Inventory

Inventory - April 2012

Closed Sales

Closed Sales for Single Family Residences - April 2012

Median Sales Price

Median Sales Price for Single Family Residences - April 2012

Download:  Grand Strand Real Estate Market Statistics – April 2012

Inventory

Inventory - March 2012

Closed Sales

Closed Sales for Single Family Residences - March 2012

Median Sales Price

Median Sales Price for Single Family Residences - March 2012

Download:  Grand Strand Real Estate Market Statistics – March 2012

Inventory

Inventory - February 2012

Closed Sales

Closed Sales for Single Family Residences - February 2012

Median Sales Price

Median Sales Price for Single Family Residences - February 2012

Download:  Grand Strand Real Estate Market Statistics – February 2012

Similarly, the condominium inventory rose seasonally by 5% but remain down 4.2% as compared to January, 2011. The median sales price for a condo is $94,900, a decline from January 2011. This decline is fueled by distressed sales and cash transactions.

Overall, the housing market continues to improve, albeit slowly, across Horry and Georgetown Counties. As consumer confidence rises and the employment rate improves we expect to see a better market as the year progresses.

Inventory

Inventory - January 2012

Closed Sales

Closed Sales for Single Family Residences - January 2012

Median Sales Price

Median Sales Price for Single Family Residences - January 2012

Download:  Grand Strand Real Estate Market Statistics – January 2012

Single Family Residential (SFR) continues to exhibit signs of stabilization. SFR inventory continued to decline as December marked the seventh straight month of inventory reduction. For December 2011, SFR inventory is down 5% from its level a year ago. However, distressed SFR inventory increased in December indicating a growing concentration of distressed inventory. SFR sales for 2011 were up 5.2% versus 2010 levels. However, December SFR sales were down 13.9% and 7.0% from their 2010 and 2009 levels, respectively. SFR median sales price continued to stabilize at $170-175,000. For 2011, SFR median sales price was down 6.1% which is ‘in line’ with our forecast. Similar to SFR inventory, condo inventory has declined for seven months and is down 7.8% from December, 2010 levels. Condo sales activity has remained steady since mid 2009. For 2011, condo sales were flat with 2010. Although demand for condos has remained steady and inventory has declined, the pricing remains weak. Overall, 2011 median sale prices for condos are down 10.3% due to limited financing and distressed sales. Finally, 2011 presented a ‘mixed bag’ for residential lot activity. For 2011, residential lot sales are up 29.1% while the median sales price fell to $30,000, a 33% decline from 2010.

Inventory

Inventory - December 2011

Closed Sales

Closed Sales for Single Family Residences - December 2011

Median Sales Price

Median Sales Price for Single Family Residences - December 2011

Download:  Grand Strand Real Estate Market Statistics – December 2011

August real estate performance was a mixed bag for the Grand Strand. Single Family Residential (SFR) inventory continued to decline as it is down 8.3% over the last 12 months. Although SFR distressed inventory is up vs. August 2010 and represents 17.2% of the inventory, it has declined for 3 consecutive months. SFR sales were up 13.3% from July and up 9.9% as compared to August 2010. Year to Date (YTD) sales are up slightly versus 2010 evels. Median Sales Price for SFR was flat to prior month and prior year levels. YTD, SFR median sales price is down 6.2% versus 2010 level. Cash transactions have been a growing share of SFR activity and represents about 35% of transaction activity. Condo activity remains at lackluster levels as inventory has declined 12.2% over the past year. Distressed condo inventory continues to decline as it has dropped 14.9% over the last year. Condo sales activity was virtually flat with July but down 13.6% versus August 2010. YTD, condo sales are up slightly (2.7%) as compared to 2010. Median sales prices for condos continue to erode and are down 8.6% from July and 12.6% versus August 2010. Year to date, the median sales price for condos is $107,250. This decline is driven by the high percent of distressed sales activity and cash transactions.

Inventory

Inventory of Single Family Residences

Closed Sales

Closed Sales Chart (August 2011)

Median Sales Price

Median Sales Price (Non-Distressed, Distressed & Combined)

Download:  Grand Strand Real Estate Market Statistics – August 2011

At the end of July, single family residential (SFR) and condo inventory declined 7.2% and 11.3% respectively as compared to July, 2010 levels. The decline appears to be equally distributed in non‐distressed and distressed inventory as distressed inventory still comprises approximately 17% of total inventory. SFR sales maintained consistent levels to July, 2010 (up 2%). Year to date, SFR sales are flat to 2010 production. Median sale prices for SFR sales were $170,250. Year to date, median sales prices are down 4.7% versus 2010 levels. We maintain our 2011 forecast of flat SFR sales and median sales price decline of 5-7% vs. 2010 levels. Condo sales activity declined 14.7% versus June and off 6.3% versus July 2010. This is the fourth consecutive month of sales decline. Condo median sales price was $110,000 which is driven by distressed sales and limited financing. Distressed condo sales represent 33% of all sales volume and cash purchase transactions comprise 60% of all transactions.

Closed Sales

Closed Sales Chart (July 2011)

Median Sales Price

Median Sales Price (Non-Distressed, Distressed & Combined)

Sold to List Price Ratio

Sold to List Price Ratio (June 2011)

Download:  Grand Strand Real Estate Market Statistics – July 2011

Single Family Residential (SFR) sales activity increased as compared to may. However, sales production declined approximately 19% versus June, 2010. This marks the hird consecutive month of year over year sales decline. Year to date, SFR sales activity remains flat to 2010 levels. June’s SFR median sales price increased vs. prior month and was 6% greater than June, 2010. This increase was driven by lower distressed sales (as a % of total). We maintain our 2011 forecast of median sales prices to be off 5‐7% vs. 2010 levels. Similar to SFR sales, condo sales activity was off approximately 6% vs. May and June, 2010. Year to date sales production is up 4% versus 2010 levels. June’s decline in sales volume was driven by lower distressed sales. This decline resulted in higher median sales prices vs. prior month levels. Year to date, 2011 median sales prices continue to lag 2010 levels.

Closed Sales

Closed Sales Chart (June 2011)

Median Sales Price

Median Sales Price (Non-Distressed, Distressed & Combined)

Sold to List Price Ratio

Sold to List Price Ratio (June 2011)

Download:  Grand Strand Market Report – June 2011

The difference between a profitable smooth transaction and a break even, miserable experience is often a fine line. In the majority of cases it comes down to the subtle know how of your professional. By utilizing the knowledge of a well-trained real estate investor, you’ll ensure the quick, profitable sale of your home. This report is designed to arm you with the knowledge to avoid 11 common mistakes that cost sellers serious money.

Refusing to Make Profit Inducing Repairs
It always costs you more money to sell ‘as is’ than to make repairs that will increase the value of your home. Even minor improvements will often yield as much as three to five times the repair cost at the time of sale. Your agent will be able to point out what repairs will significantly increase the value of your home. Seemingly small fix up jobs can have quite an impact.

1. Not Considering Other Financing Terms

Cash is not always the most advantageous transaction. Income level, tax benefits and current legislation are all critical factors when considering purchase terms. Professional Real Estate Investors are experts at home transactions and can lead you down the path that will give you the highest yield.

2. Provide Easy Access for Showings

Accessibility is a major key to profitability. Appointment-only showings are the most restrictive, while a lock box is the least. However there are certain considerations to take into account: your lifestyle, time frame for the desired sale and the relationship with the person representing your interests. The more accessible your home is, the better the odds of finding a person willing to pay your asking price. You never know if the one that couldn’t get a viewing was the one that got away. By developing a trusting relationship with an investor, he or she will show the home with your best interests in mind.

3. Priced Too Low/Priced Too High

One critical reason to find an experienced professional real estate investment professional is to make sure the property is priced appropriately for a timely and profitable sale. If the property is priced too high it will sit and develop the identity of a problem property. If it’s priced too low it could cost you considerable profits. The real estate market has subtle nuances and market changes that should be re-evaluated by your representaive every 10-14 days to help you maximize your return.

4. Relying Solely on Traditional Methods To Sell Your Home

The real estate professional who is innovative and willing to offer new strategies of attracting home buyers will always outperform those who rely on traditional methods. Demand around the clock advertising exposure, innovative lead generation methods and lead accountability. These services exist and should be offered on your home sale.

5. Market Timing/Seasonal Selling

Just as a broker who continually follows the trends of a stock, your real estate professional continually follows trends of your home market. They will know if the market cycle is poised to net you the most money. Avoid believing that property sales are seasonal – property is always selling.

6. Refusing to Make Cosmetic Changes

The prospective home buyer’s first impression is the most important. Hundreds of thousands of home sales have been lost to unkempt lawns, cluttered rooms, bad stains, unpleasant odors… all the seemingly little things. Imagine you were the home buyer and clean your place from top to bottom – military style.

7. Wasting Time With An Unqualified Prospect

Your representative’s responsibility is to screen a prospect’s qualifications before valuable time is lost. Be sure to align yourself with the right professional and eliminate negotiating with unqualified prospects.

8. Don’t Test The Market

Never put your property on line to sell unless you are serious. The right professional will find you buyers and if you are harboring indecision… you will blow the sale.

9. Believing You are Powerless to Make a Difference

Be a part of the team! Take an active role with your real estate professional to see what you can do to facilitate your sale. Networking with professional peers and personal friends often results in the sale of a home. It’s surprising how many homes are sold this way.

10. Believing All Realtors, Brokers & Others are the Same

With all the intricate details and critical decisions to be made concerning your home sale, should you rely on anyone but an experienced real estate investment professional? Many friends and family members have been estranged as a result of failing to meet expectations. Your home sale is a time consuming, effort related, difficult task. Maximize your profit by utilizing a experienced real estate investment professional.

Tax incentives for real estate investors can often make the difference in your tax rates. Deductions for rental property can often be used to offset wage income. Tax breaks can often enable investors to turn a loss into a profit.

For which items can investors get tax breaks? You could claim deductions for actual costs you incur for financing, managing and operating the rental property. This includes mortgage interest payments, real estate taxes, insurance, maintenance, repairs, property management fees, travel, advertising, and utilities (assuming the tenant doesn’t pay them). These expenses can be subtracted from your adjusted gross income when determining your personal income taxes. Of course, these deductions cannot exceed the amount of real estate income you receive. In addition to deductions for operating costs, you can also receive breaks for depreciation. Buildings naturally deteriorate over time, and these “losses” can be deducted regardless of the actual market value of the property. Because depreciation is a non-cash expense — you are not actually spending any money — the tax code can get a bit tricky. For more information about depreciation and various tax alternatives, ask your tax advisor about Section 1031 of the U.S. Tax Code.

Have a Positive Cash Flow

There are two kinds of positive cash flows: pre-tax and after-tax. A pre-tax positive cash flow occurs when income received is greater than expenses incurred. This sort of situation is difficult to find, but they are usually a strong and safe investment. An after-tax positive cash flow may have expenses that outweigh collected income, but various tax breaks allow for a positive cash flow. This is more common, but it is generally not as strong or safe as a pre-tax positive cash flow.

Regardless of what kind of real estate you choose to invest in, timely collections from your tenants is absolutely necessary. A positive cash flow — whether it be pre-tax or after-tax — requires rental income. Be sure to find quality tenants; a thorough credit and employment check is probably a good idea.

Use Leverage

One of the most important factors in determining a solid investment is the amount of equity you are purchasing. Equity is the difference between the actual worth of the property and the balanced owed on the mortgage.

Benefit from Growing Equity

While investing in real estate is relatively complex, it is often worth the extra work. When compared to other financial investments, like bonds or CD’s, the return on investment for real estate purchases can often be greater.

The key to real estate investing is equity. Determine an amount of equity that you want to achieve. When you reach your goal, it’s time to sell or refinance. Determining the proper amount of equity may require the assistance of a real estate professional.