In the month if November sales of existing homes rose to the highest levels since February 2007. However the median sales price fell 4.3 %. What this means is that buyers more than ever need the assistance of a qualified agent to help them sift through the good buys to find the great buys. It also means that buyers need to be prepared to buy and buy now, because those great deals don’t last long. With lower interest rates and the expansion of the first time home buyer credit, now more than ever is the time to buy. What it means for sellers is that, you want an agent who will be upfront and honest with you about true market conditions. You might like the agent that will list the home for the highest price, but this agent might be just wanting another listing to advertise their services, and it might just sit on the market costing you money. Whereas an honest upfront agent will tell you the true value. It might not be pleasant news at first but when your homes sells fast it will be well worth it.
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We have all experienced and heard others express how real estate agents can be cut throat and down right dirty….  REALLY… I DON’T believe it!!!  Is it all about the sale and that commission?  I always try and do what is right … help people… the money is great but helping others is most important. I once had my neighbor as “How is being a Realtor helping people?” WOW!!! This is the most or one of the most important decisions people make in their lives. Having good leadership and someone you can trust is most important for a buyer. My job is just as helpful as being a teacher or a counselor.

 As humans we are competitive creatures and we want to not only stay on top of the food chain but to extend our own personal wealth and growth. I want to be the best agent I can be. I want to sell the most homes I can sell and make people happy when they find the perfect property. Their happiness and referrals are MOST IMPORTANT!!!

 Agents love  competition. They want to  be the best.  In the office today , we have an office decorating competition. It was great; everyone was going around and looking at each others décor and laughing and offering suggestions and all in all having a good time.  We even had agents from other offices coming in and commenting. Real estate is much like a decorating contest… we all want to win… AND it’s fun… I don’t know how my workshop of Elves is going to compete with the trailer park that is down stairs. We’ll leave it to the judges!!!

Afterall,,win some and lose some. Happy Holidays!!!

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On November 6th President Obama signed the first time home buyer credit into law. The previous first time home buyer credit was going to expire at the end of November. The new first time home buyer tax credit is a little more improved than the first one and includes others, not just first time home buyers. Under the old tax credit, first time home buyers that had an income below $75,000 for singles and $150,000 for couples would receive an $8,000 tax credit if they purchased and closed on a home before November 30th. Under the new tax credit first time home buyers that have an income of $125,000 or less for singles and $225,000 and below for couples will receive a tax credit of $8,000 if they are under contract by April 30th 2010. The home being purchased must also be under $800,000 The buyers then have 60 days to close. This is good especially with the real estate market being full of short sale properties that can sometimes take months to close.
Who else is included?
The new tax credit also includes buyers who have lived in their home over 5 years. These buyers are under the same income and timeline restrictions as first time home buyers. While they will not recievce an $8,000 tax credit, they will receive a $6,500 tax credit.
This is a great time to buy in Myrtle Beach, there are a lot of great deals for first time home buyers and for buyers who made need a little more or less space than they currently have, but time flies now is the time to start talking to a real estate professional to see how your needs can be best met and to find the best property for your money.

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The First Time Home Buyer Credit is set to expire on November 30th 2010. The Credit grants a tax credit to first time home buyers of $8,000. Many first time home buyers are seeing this $8,000 as a cushion to help them get through the first year of home ownership, or they are using it to decorate and make their house truly a home. As all Real Estate and Finance professionals know home ownership is one of the main keys to building long term wealth.
In Myrtle Beach in recent months we have seen a rise in home sales in terms of sure number of homes sold and in terms of the prices they sold for. Will the expiration Credit affect Myrtle Beach negatively or should the First Time Home Buyer Credit be extended?
In a recent article from the Washington Post concerning the extension of prices in MA, “If the first-time homebuyer tax credit expires as scheduled on Nov. 30, many analysts expect a drop in home sales and prices, though they disagree on how big the drops will be. The situation looks even more dire once swelling unemployment numbers and related delinquencies and foreclosures are factored in.”
However, Myrtle Beach won’t be affected as much as many people may think. There are a few reasons for this. We are a resort town; yes, we have benefited from the first time home buyer credit, but we have also benefited from having sellers become more aware of the reality of the market. This has lowered prices and brought investors and people looking for vacations homes from all over the country- many who are buying second homes. These buyers in no way shape or form benefit from the first time home buyer credit.
In the end we should all want the First Time Home Buyer Credit to be extended and even expanded to include ALL buyers because we all know that one sale is better than no sales, but the sky will not fall if it is not extended and we will all continue to work hard and drive through the storm and come out on top.

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Promising News

Home values rising for the first time since 2005. All over the country the housing market is seeing improvements. Now more than ever is the time to jump on a great deal while you still have the chance.
“ Home values in 20 U.S. cities climbed in July by the most in almost four years, helping stem the record plunge in household wealth that’s depressed spending.
The S&P/Case-Shiller home-price index rose 1.2 percent in July from the prior month, the biggest gain since October 2005, the group said today in New York. Home values are rebounding as low borrowing costs and government tax credits lift home sales
Combined sales of new and existing homes have risen for four out of the last five months, signaling the worst of the housing crisis is over. The Obama administration’s $8,000 tax credit for first- time buyers, which is due to expire at the end of November, combined with lower prices as foreclosures soared, have helped lift sales this year. The National Association of Realtors and the National Association of Home Builders have lobbied to extend the credit on concern demand will wane after it lapses. “ Bloomberg News

While these fact and figures might not reflect the exact state of the Myrtle Beach market, they do show trends all across the country, and that trend is the market is improving. Soon the train of a Buyer’s market will turn back into a seller’s market, do not miss the train, and get on board while you still can. Talk to a mortgage professional today about how home ownership can help you build long term wealth.

It is also the time to call a professional real estate agent who can guide you not only to the home of your dreams, but who will also negotiate on your behalf, and to help you not only in the days building up to your closing but that will be there to answer your real estate questions and concerns for Life.

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