Myrtle Beach Real Estate Blog - Myrtle Beach Real Estate News - Myrtle Beach SC Real Estate Blog

myrtle beach real estate news
Welcome Page for myrtle beach south carolina real estate news
myrtle beach sc real estate news
myrtle beach real estate news County Select
myrtle beach sc real estate news MLS Search
myrtle beach south carolina real estate news Associates
myrtle beach real estate news Mortgage Companies
myrtle beach sc real estate news mortgage Calculator
myrtle beach south carolina real estate news Insurance Companies
myrtle beach real estate news office locations
myrtle beach sc real estate news Contact
myrtle beach south carolina real estate news Career Opportunities

Myrtle Beach Open House
Click to view our open houses in Horry and Brunswick Counties.
myrtle beach real estate news
Real Estate Buyers Guide
Click to download your
Free Carolina Coast
Buyers Guide.
myrtle beach sc real estate news
myrtle beach south carolina real estate news

Market Movoment - An up-to-the-minute communication for the Weichert sales team

Two encouraging bits of real estate news brightened my morning today.

First, pending home sales, based on contracts signed in August, jumped unexpectedly to the highest level since June 2007. According to Lawrence Yun, chief economist for the National Association of Realtors, this improvement was a result of improved affordability and lower interest rates.

In addition, the Mortgage Bankers Association reported that mortgage applications increased 2.2 percent last week due to lower home loan rates.

More pending home sales and loan applications mean more closed business. Paired with the expectation of freer credit moving forward and the $7,500 buyer tax credit, this is all promising news for the real estate industry.

"It pays to ask" and it also pays to tell. Pick up the phone and share this news with your prospects and clients. Let them know that now is the time to buy.

Let's move this market, 

 

The sky in NOT FALLING!

Credit Update!

 

Do not believe everything you hear on the NEWS! You are witnessing a POLITICAL tug of war right now.

 

I have had several of my business partners (Agents) call and ask me if it is getting harder to lend money…here is the bottom-line, you can pass this information off to your clients & prospects if you wish.

 

 

FHA is financing 97% of the purchase price. SunTrust is STILL financing 95% second home. The Mortgage Insurance companies have put higher credit score requirements in place, but the biggest challenge would be on 2nd home and investor properties with most of what I have been seeing for second homes credit scores being over 680…NO PROBLEM… otherwise we FHA for lower scores on primary home, and get a better rate anyway.

 

THE SKY IS NOT FALLING!

 

  • USDA & VA is lending 100%. For information on Rural Development, feel free to call me. You will be surprised to know how much of our area qualifies for that product.

 

  • Fannie & Freddie…Like I said, we still do 95% financing on both Primary & Second home

 

  • Jumbo Money…Still available and strong.

 

I saw a report the other day that showed that the national sale price had only dropped 2.2% over the last couple months. (CNBC) That is great news, and shows a potential bottom.

courtesy of ed bucchino

Selling Tips

Today’s market is a buyer’s market due to the surplus of housing. This creates a lot of competition between sellers to attract buyers. In many communities around the U.S. sellers are having problems trying to sell their homes. Here are a few tips that you could consider and speak with your Myrtle Beach realtor about. The best way to entice buyers is financially. Offer to pay all or part of the down payment or closing costs. Obviously the more money down will result in a smaller loan. This smaller loan will save the buyer money due to less accrued interest. Also, since closing close can represent 2 to 3 percent of the loan amount helping with this could be quite attractive to a buyer. Another option to consider is acquiring a home warranty. A one year home warranty could be several hundred dollars but provide the buyer with a sense of security. Home warranties can cover major mechanical defects such as the A/C or heating system. Think about how the buyer would feel to know that they are free from the financial responsibility of any major issue with their new home.

Contact Southern Coast about selling your real estate in Myrtle Beach.

myrtle beach real estate news
Myrtle Beach Web Design by InterCoastal Net Designs
This Myrtle Beach Real Estate website Copyright© 2006-2007 Weichert
Each WEICHERT® franchised office is independently owned and operated.