CAN OCEANFRONT & SECOND
ROW PROPERTIES REALLY HOLD THEIR VALUE???
Today
I was thinking to myself; with whole financial debacalestill in full swing,
fresh Foreclosuresstill
coming into the market and Short Sales creeping higher and higher into
the Market Share for all Active Listings, does Oceanfront or Second Row
Propertiesstill
have what it takes to hold their escalated Values??
I pulled statistics for just the North Myrtle Beach area and found that
currently, there are 23 different listings for sale that are both
Oceanfront & Second Row to the Beach. The Lowest
Priced House
is amazingly $360,000 and Second Row. ( 207 N 55th Ave. ) The
Highest priced House is "not surprising" $ 1,995,000 and of
course
sitting Direct Oceanfront!( 804 N Ocean Blvd. )
Next, I pulled what has SOLD since the First of the 2009.
Sadly
but not shocking, only 6 Homes have Sold. The Lowest Price
Home
that has sold is Second Row at ( 3801 N Ocean Blvd. ) and went for $
449,000 . The Highest Priced Home that sold was Direct
Oceanfront
at ( 1500 N Ocean Blvd. ) and it went for $ 1,000,000 even!!
The Average Sold price out of the Six is only $ 679,666 at this point
and the Median price point runs about $ 720,000. The most
recent SOLD property was at 1918 N Ocean Blvd. It is a 5 Br /
3Ba, about 1800 SqFt Oceanfront Foreclosure home that Sold
for $ 835,000.
Looking at just the Oceanfront Homes that have Sold since January, the
Average Sold price should be about $ 828,333. It's amazing to me that
you could acquire and Oceanfront Beach home for well under a Million
dollars now and there are no signs that we have reached bottom pricing
for the Myrtle Beach SC/ North Myrtle Beach SC Market.
Considering how the Market has shifted
so far, this Fall season could be the absolute BEST time to garner
yourself that amazing Oceanfront or maybe a Second Row Beach Home
overlooking the Atlantic Ocean.
I have a Great story to share and maybe you have had this experience yourself! A few weeks ago, me and a "Same-Office" Agent were in the office together. She was walking out the door when the Main phone line rang. I picked up and a woman on the other end asked to speak with whomever she had recently spoken to in our office. "A woman" she said. I asked if she knew her name since we have more than one female Agent working in our office. The woman claims she didn't know (or remembered) her name so, I rattled off names and she picked one. Let's call her "Susan". Once she recognized her name I stated that "Susan" had just left the office but that I could catch her before she got away. The woman said "No, that's ok I just need to tell her that 10:30 AM is ok for us to meet tomorrow" I asked the woman what her name was so I could relay the message. She said her name was ( let call the prospective Client, "Debbie" ) I told "Debbie" that I would past on the information to "Susan" and make sure she get's the time right.
Now, as I was hanging up with "Debbie" I realized that her name sounded extremely familiar to me. Just then, "Susan" came walking back in the office to get something she had forgot. I informed her about "Debbie's" call and told her about the confirmation on the time she had set up with her for the next day. Right after, I asked "Susan" how long she had been working with "Debbie" and what type of property they were looking for. During this conversation, I realized, at that moment, that we were working with the same person!!!! "Susan" proceeds to tell me that she has been conversing with "Debbie" and her husband since June of this year and has been sending them lots of information about homes throughout the Myrtle Beach area and has been trying to narrow homes down for quite sometime.
I started working with "Debbie" as an Agent, since the middle of August when I had Floor duty and answered a lead call that came in on one of our Listings. After a long conversation with "Debbie" she mentioned that she has been looking for some time now and had talked to several different Agents but none of them had seem to be able to help her find exactly what she was looking for. I asked her several different questions a began to get a better idea of what she was looking for. I told her that I would send some specific current Listings and asked her to look through them and give me some feedback on her "Likes & Dislike" so I could start to crystallize a better idea of what she wants.
Now, in my conversations with "Susan", she explained to me that she started off the same way, only it began with "Debbie's" husband. Later on after sending them several listings and asking some of the same questions I asked, "Susan" was starting to get a good idea of what they wanted. At some point, all communications were deferred to "Debbie". So "Susan" continued her work and spent a great deal of time with "Debbie" researching several properties over the past few Months.
Here's where it came to a Head. After I answered the call to our Office Line where "Debbie" was trying to confirm her appointment with "Susan" for the next day (Thursday) and I realized we were working with the same person, I also figured out that "Debbie" had planned to meet with "Susan" on Thursday to be shown several different properties. Then, the next day after tomorrow (Friday), she was trying to confirm with ME to schedule several additional properties to look at! WOW..... I sat there in a small state of shock as it all started to come together. I remembered I had asked "Debbie" if she was currently working with another Agent and she simply said that she has been talking with different Agents but had not decided with whom to work with yet. Man O Man, I got the feeling that I just got PLAYED and I wasn't alone!! It's such a horrible feeling when take time to work with people and you realize that they have strung you along, possibly lieing to you and making all your efforts to simply help them feel like a complete waste of time!!
Where exactly is problem here..?? Did "Susan" and I do anything wrong? Am I so naive to simply think that people are going to extend a degree of "Mutual Respect" & "Courtesy" when they interact with a Realtor??
I was pulling some statistics
for one of my Clients and notice something very interesting about Grande
Dunes
in Myrtle Beach, SC. As you will see below, in the Past Six
Months, 18
Homes have SOLD throughout the Grande Dunes. Sadly, 11 of those 18
Transactions were Distressed properties: Foreclosures &
Short Sales !!
LIST PRICE:
SOLD PRICE:
DOM:
HIGH
LOW
AVERAGE
MEDIAN
TOTAL
PRICE
LISTING
COUNT
$1,800,000
$540,000
$954,438
$824,500
$17,179,900
18
$1,430,000
$500,000
$802,472
$700,000
$14,444,500
633
35
218
144
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OCEANVIEWS & MARSHVIEWS NEW FORECLOSURE IN MURRELLS INLET
Amazing 6Br / 6Ba 1 Half Bath Raised Beach Home located South of Atlantic Ave and just off of S Waccamaw Dr, this beautiful Beach Home could be your next "Vacation Getaway"!! Can you picture yourself and all your friends & family spending their Vacation mere Steps to the Beach as well as the Inlet?? Well, now is your opportunity to make that dream a Reality! Take advantage of this Chance of a Lifetime!! Back in 2004, this beautiful Home was first built and SOLD for $659,000 giving someone the "Ultimate Beach Getaway" in the Heart of Murrells Inlet. Perfectly situated, this house is positioned a mere walking distance to the Beach but also give you wonderful views of the Inlet Marsh just behind it. Days of lounging at the Beach soaking up the warm Sun with the sounds of the Atlantic Ocean washing away all your troubles can be spent just steps away from this magnificent home! Care to take a Boat out for a Fun Filled Day cruising along the Inlet and local Waterways? Well, your in luck because just a short distance down the road is the wonderful Marlin Quay Marina
Once again, the beautiful Beach Home came on the Market in 2006 and SOLD for an Amazing price of $ 1,100,000. Now that is a good return on your investment, garnering that lucking Investor $441,000!!
Now the Market has turned down and this could be Your chance to get this wonderful Raised Beach Home for a price close to what it SOLD for back in 2004!!!!
CALL me Today and lets discuss a Strategy on how to get you this " Ultimate Beach Getaway" for Pennies on the Dollar!!! Don't wait to Long or this one might slip away!!
Have you given much thought to Investing in Real Estate in the Myrtle Beach areas? Have you been following the market recently? Have you caught yourself thinking, about FINALLY getting that Place at the Beach after Vacationing here Year after Year?
Well, you are in Luck. Prices on Properties throughout the Grand Strand have been dropping month after month. We are seeing Properties sell for less than what they were purchased almost 10 Years Ago..!!!
Below is a List of Recent Sold Transactions that have happen since January this Year. All the Lisitngs below are located either 2nd Row from the Beach or less than a few blocks. If you have interest in the Myrtle Beach Area, call me now and let me help you find that Perfect Beach Home you have always Dreamed about having.
LIST PRICE:
SOLD PRICE:
DOM:
HIGH
LOW
AVERAGE
MEDIAN
TOTAL PRICE
LISTING COUNT
$1,399,500
$245,000
$638,421
$494,950
$8,937,900
14
$1,330,000
$245,000
$578,430
$505,563
$8,098,026
1167
103
288
183
Disclaimer
This information is deemed reliable, but not guaranteed. Neither the Coastal Carolinas Association of REALTORS, nor the listing broker, nor their agents or subagents are responsible for the accuracy of the information. The buyer is responsible for verifying all information. This information is provided by the Coastal Carolinas Association of REALTORS for use by its members and is not intended for use for any other purpose.
Located East of Hwy. 17 in North Myrtle Beach, Seven blocks from Main St. and just a short distance to the Beach itself!!
This beautiful home is postioned perfectly. Right in the Middle of what all The Beach has to offer, yet tucked away enough to keep things peaceful and quiet.
Have you ever dreamed about having that wonderful place at the Beach where you could run-away to and enjoy the laid-back atmosphere that only a Beach Side Community can offer? Well, now is your chance. This house is in a Pre-Foreclosure situation and the Seller says Bring all Offers..
Originally Listed back in Febuary for $769,000 this home has been on the Market for quite some time and has drop in price now by $240,000!!!!!
This small Community has no HOA fees and No Restriction so you can bring your Boat, Motocycle, Golf Cart or whatever and enjoy it to the Max!!
Professionally decorated & finished This Home has it all...literally!!
Luxurious Master Bedroom with private balcony, heated Bathroom floors, Jacuzzi tub, marble flooring in the shower and Dual vanity area.
Kitchen has custom cabinets, granite countertops and top of the line Stainless Steel appliances as well as boasting an open design that flows into both the Living Room & Dining Room
A Large Bonus Room that overlooks the Living Room can be good for just about any use or make it into a 5th Bedroom.
Bottom level offers separate Bedroom, Bath, kitchenette and a large entertainment area currently being used as a game room with a private entrance.
Other features include, elevator, security system, Central intercom/radio, Surround sound, upgraded bronze hardware & plumbing fixtures to just name a few.
I seem to come back to this question more and more often these days! In my interactions with both fellow Realtors and potential Buyers, I find myself asking the Question:
Are you/they, "people Motivated"?
Please allow me to explain a little more of what I'm getting at. When both meeting and/or talking with potential clients, nine times out of ten I'm going to hear about a previous experience with another Realtor and it typically is not a Positive interaction. Story after Story, people consistently share with me experiences that put them on the Defensive or have made them highly suspicious of interacting with another Realtor. Why do you think this is? Why does there have to be so many " Used Car Salesmen" type Realtors out there leaving a negative mentality for the world to see?
While listening to all these stories, I keep asking myself the same Question: Were these fellow Realtors "People Motivated"? Well, I'm sure that anyone with Common Sense can answer that question: NO, they weren't and probably never will be. These type of so-called " Realtors" are obviously motivated by one thing and one thing Only; MONEY....!!
These " Money Motivated" Realtors are strictly focused in dealing with a client based on how much Money they can get out of the Transaction and not so much what's right for the Client!
You know which ones I'm talking about: The Agent that happens to show a Client only Listings within their own Company, maybe even a few of their own Listings; Not so much what the Client was interested in !! Or maybe they show only Listings that, just so happen to have a "Buyers Agent Bonus"!! I think you are getting my point!
What would you think it means to be "People Motivated"??
My thought is, that as a Professional, your main focus is on the well-being of your Client! Humm, "well-Being" what does that mean exactly? A dictionary definition states it as :
–noun
a good or satisfactory condition of existence; a state characterized by health, happiness, and prosperity
Now, as Realtors, we are more familiar with the term "Fiduciary Responsibility" in the relationships between us and our Clients.
noun. pl.fi·du·ci·ar·ies
One, such as an agent of a principal or a company director, that stands in a special relation of trust, confidence, or responsibility in certain obligations to others.
I like showing these definitions because this where most people are going to search for explanations on the terms and words that we use on a daily basis and it should help us to understand where our Clients point-of-views sometimes come from.
Now, my belief is that by focusing on my Clients "Wants & Needs" and using both my experience and knowledge, I will be able to help them find and purchase the right property for the right price in the current Market. Properly paying attention and "truly" listening to my Clients is what will fully insure that they get both what they want and need in a Property. My commission (pay) off of the Transaction should be thought of as simply a "By-Product" of doing the right thing for my Clients. Being true to them and their needs is what I believe makes me a "People Motivated" Realtor and not "Money Motivated" !!
I don't set Goals for myself based on how many Transactions I plan to close this Month or Year. I set them based on how many people I plan to help when making a Real Estate Transaction. "Educate & Advise" should be our motto as Realtors. We're supposed to be here to help people with one of the largest financial decisions they will ever make. Should they make that decision with just any Realtor they stumble across??
Please feel free to chime in on this topic. I would love to get as much feedback on this as possible. Share your experience as well as your advice!
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