Prepping and Staging a House

December 7, 2007 by winnergirl68

Prepping and staging a house. Every seller wants her home to sell fast and bring top dollar. Does that sound good to you? Well, it’s not luck that makes that happen. It’s careful planning and knowing how to professionally spruce up your home that will send home buyers scurrying for their checkbooks. Here is how to prep a house and turn it into an irresistible and marketable home.
Difficulty: Average
Time Required: Seven to 10 Days
Here’s How:
Disassociate Yourself With Your Home.
Say to yourself, “This is not my home; it is a house — a product to be sold much like a box of cereal on the grocery store shelf.
Make the mental decision to “let go” of your emotions and focus on the fact that soon this house will no longer be yours.
Picture yourself handing over the keys and envelopes containing appliance warranties to the new owners!
Say goodbye to every room.
Don’t look backwards — look toward the future.

De-Personalize.
Pack up those personal photographs and family heirlooms. Buyers can’t see past personal artifacts, and you don’t want them to be distracted. You want buyers to imagine their own photos on the walls, and they can’t do that if yours are there! You don’t want to make any buyer ask, “I wonder what kind of people live in this home?” You want buyers to say, “I can see myself living here.”

De-Clutter!
People collect an amazing quantity of junk. Consider this: if you haven’t used it in over a year, you probably don’t need it.
If you don’t need it, why not donate it or throw it away?
Remove all books from bookcases.
Pack up those knickknacks.
Clean off everything on kitchen counters.
Put essential items used daily in a small box that can be stored in a closet when not in use.
Think of this process as a head-start on the packing you will eventually need to do anyway.

Rearrange Bedroom Closets and Kitchen Cabinets.
Buyers love to snoop and will open closet and cabinet doors. Think of the message it sends if items fall out! Now imagine what a buyer believes about you if she sees everything organized. It says you probably take good care of the rest of the house as well. This means:
Alphabetize spice jars.
Neatly stack dishes.
Turn coffee cup handles facing the same way.
Hang shirts together, buttoned and facing the same direction.
Line up shoes.

Rent a Storage Unit.
Almost every home shows better with less furniture. Remove pieces of furniture that block or hamper paths and walkways and put them in storage. Since your bookcases are now empty, store them. Remove extra leaves from your dining room table to make the room appear larger. Leave just enough furniture in each room to showcase the room’s purpose and plenty of room to move around. You don’t want buyers scratching their heads and saying, “What is this room used for?”

Remove/Replace Favorite Items.
If you want to take window coverings, built-in appliances or fixtures with you, remove them now. If the chandelier in the dining room once belonged to your great grandmother, take it down. If a buyer never sees it, she won’t want it. Once you tell a buyer she can’t have an item, she will covet it, and it could blow your deal. Pack those items and replace them, if necessary.

Make Minor Repairs.

Replace cracked floor or counter tiles.
Patch holes in walls.
Fix leaky faucets.
Fix doors that don’t close properly and kitchen drawers that jam.
Consider painting your walls neutral colors, especially if you have grown accustomed to purple or pink walls.
(Don’t give buyers any reason to remember your home as “the house with the orange bathroom.”)
Replace burned-out light bulbs.
If you’ve considered replacing a worn bedspread, do so now!

Make the House Sparkle!

Wash windows inside and out.
Rent a pressure washer and spray down sidewalks and exterior.
Clean out cobwebs.
Re-caulk tubs, showers and sinks.
Polish chrome faucets and mirrors.
Clean out the refrigerator.
Vacuum daily.
Wax floors.
Dust furniture, ceiling fan blades and light fixtures.
Bleach dingy grout.
Replace worn rugs.
Hang up fresh towels.
Bathroom towels look great fastened with ribbon and bows.
Clean and air out any musty smelling areas. Odors are a no-no.

Scrutinize.

Go outside and open your front door. Stand there. Do you want to go inside? Does the house welcome you?
Linger in the doorway of every single room and imagine how your house will look to a buyer.
Examine carefully how furniture is arranged and move pieces around until it makes sense.
Make sure window coverings hang level.
Tune in to the room’s statement and its emotional pull. Does it have impact and pizzazz?
Does it look like nobody lives in this house? You’re almost finished.

Check Curb Appeal.
If a buyer won’t get out of her agent’s car because she doesn’t like the exterior of your home, you’ll never get her inside.
Keep the sidewalks cleared.
Mow the lawn.
Paint faded window trim.
Plant yellow flowers or group flower pots together. Yellow evokes a buying emotion. Marigolds are inexpensive.
Trim your bushes.
Make sure visitors can clearly read your house number.

Check out New Developments at Hard Rock Park

November 30, 2007 by winnergirl68

Check out all the new developments and by tickets for Myrtle Beach’s new Hard Rock Theme Park.

Stocks Skyrocket on Falling Oil and Hopes of a Fed Cut

November 28, 2007 by winnergirl68

The Dow Closes Up 331 Points After the Price of Oil Falls 7 Percent This Week

By MADLEN READ
AP Business Writer
Nov. 28, 2007—

NEW YORK (AP) — Wall Street barreled higher Wednesday for the second day in a row, giving the Dow Jones industrial average its biggest two-day point gain in five years after a Federal Reserve official hinted that the central bank may lower interest rates again.

Investors’ renewed hopes for a rate cut added to their relief that companies that made losing bets on subprime mortgages, such as Citigroup Inc. and Freddie Mac, are coming up with ways to raise cash. The market was clearly optimistic that at least some of the damage from the months-long credit crisis was finally being mitigated.

Click Here to See How Your Stocks Did Today

However, Wall Street has been fickle in recent months, and no one is betting that the mortgage crisis that tripped up the nation’s financial industry this year is over, or that the market’s huge gains so far this week will stick. Despite its spectacular advance this week, the Dow remains 6 percent below its Oct. 9 record close over 14,000, having plunged due to worries that the housing market’s slump will lead to further losses for banks, and that the Fed can’t keep slashing rates.

“The market’s perception of whether the Fed cuts or not really changes by the day,” said Michael Sheldon, chief market strategist at Spencer Clarke LLC. “We still have more data to come.”

Early Wednesday, Fed Vice Chairman Donald Kohn told the Council on Foreign Relations that recent financial turbulence has reversed some of the improvement seen in markets in previous weeks, and could squeeze credit for households and businesses. He said tight financial conditions may merit “offsetting” policy from the central bank.

The possibility for lower rates seemed more compelling to investors than persistent concerns about a slowdown in economic growth. The Fed has already reduced rates at its last two meetings, and continues to inject billions of dollars into the financial system through repurchase agreements to help calm the shaky markets. The central bank will hold its final rate-setting meeting of the year on Dec. 11.

Plunging oil and gold prices also lifted investors’ hopes for a rate cut — if inflation is in control, policy makers have less reason to keep rates high. The Fed’s Beige Book of economic activity around the country said with the economy expanding at a reduced pace, most core prices are stable or down slightly.

According to preliminary calculations, the Dow soared 331.01, or 2.55 percent, to 13,289.45, adding to the blue chip index’s 215 point gain on Tuesday and giving the market’s best known indicator its largest two-day point gain since Oct. 11, 2002.

The broader Standard & Poor’s 500 index jumped 40.79, or 2.86 percent, to 1,469.02, while the Nasdaq composite index shot up 82.11, or 3.18 percent, to 2,662.91.

Government bonds slipped as stocks rallied. The yield on the benchmark 10-year Treasury note rose to 4.04 percent from 3.95 percent late Tuesday.

Crude oil posted its own two-day milestone Wednesday, falling $3.80 to settle at $90.62 a barrel on the New York Mercantile Exchange after dropping $3.28 Tuesday. The $7 two-day plunge was the second-largest since the Nymex introduced a futures contract 24 years ago.

The dollar fell against the euro and pound, but rose against the yen.

“Everything we’re seeing in the market is revolving about credit and encouragement that the Fed is going to bail us out again,” said Alexander Paris, economist and market analyst for Chicago-based Barrington Research. “Investors are kind of ignoring the economic news like housing and durable orders that were all weaker than expected.”

Copyright © 2007 ABC News Internet Ventures

Sellers Decide to Rent Properties

November 28, 2007 by winnergirl68

When summer ended, several sellers were faced with a dilemma. “Do I keep my property on the market possibly through the winter or do I rent the property out until the market turns around”. My listing inventory dropped nearly 20% in the past several weeks from people making the decision to lease the property until next Spring. Carolina Forest Real Estate is being affected more than several areas around Myrtle Beach, because many investors bought new homes in a flipping frenzy. Add these investors to the investors that bought with an intention of renting and you have a major surplus of inventory to lease. Not only have the values of the homes come down, but now we are seeing the rental incomes come down as well, while these investors lower the prices in order to secure a tenant. Many areas of Myrtle Beach are not suffering as much as Carolina Forest with rentals, because the properties have been around longer and hasn’t had as much of the pre construction investor occur. I personally feel that if the sales market doesn’t turn around soon, we will witness several foreclosures in the Carolina Forest Area. People tend to walk away from their second homes and investment homes before their primary homes. Therefore, we will witness several bank owned properties in the Carolina Forest Area soon. The market most likely will turn around in a few years, but it simply has to correct itself first. I think that we will never again witness the boom of the new home construction that we witnessed over the past 3 years. Several local new home builders are witnessing the same market affects as the national builders. Spec homes have been built at an unprecedented rate and are not selling. Some of these homes are not very easy to rent. Myrtle Beach does not support the need of executive rentals. It will be interesting to see what the Winter of 2007 brings, but let me make one thing clear. Don’t reject any offers on your properties. It may not be what you are looking for, but you can always counter-offer in an attempt to bring the buyer back to reality.

Market Corrections

November 28, 2007 by winnergirl68

Where will the market be in 2008?

In 2007 we have witnessed major pricing adjustments as the market continued to correct itself from the over inflated pricing and buying in 2005. The correction started early in 2006 but really didn’t take hold until 2007 as many sellers in 2006 continued to demand prices equal to, or higher than, the 2005 prices.

Buyers still reluctant to purchase during a downtrend held fast but sellers refusing to ‘give” their properties away stayed firm at what they felt were reasonable prices. Thus a stale mate for most of 2007. Seller’s who had continued to demand higher prices for their properties finally realized that they either had to reduce their prices below the 2005 market prices or take their properties off the market. Eventually many sellers choose to reduce their prices until their properties were sold while others choose to take their properties off of the market. Both of these actions helped to reduce the inventory thereby causing prices and the market to finally stabilize.

Add to this an increase of buyers looking for that perfect property at a reasonable price, interest rates close to a forty year low, and you get an entirely different market for 2008. A “Stable Market”. What this means is that buyers will continue to have a nice selection of inventory available to them, reasonably priced, with close to history low interest rates that may not be around much longer. And sellers will finally be able to sell their properties, if they are priced reasonably and in decent condition.

Smart buyers should recognize that this market is changing and with the New Year just around the corner the fence sitting is over. The buyers who choose to wait much longer may be saying, in years to come, what all of us heard in 2005 “I should have purchased this property when I had the chance two years ago”! There is no more need to wait for prices to drop below already marked-down prices nor to low ball an offer on an already reduced property. Therefore a reasonably price property combined with low cost interest rates could be a potentially great deal.

Sellers, on the other hand, should not take this as a turn in an upswing in market pricing. It is not. Seller’s attempting to price their properties for what they might have commanded in 2005 or even much higher than what comparative properties sold for in 2006 and 2007 will be pricing their properties out of the market and come up empty handed.

In 2008 – A Stable Market. Sellers Sell … Buyers Buy Prices Stabilize. A Win Win for all.

Myrtle Beach, SC–New Growth Projections

November 28, 2007 by winnergirl68

The downturn in the real estate market has barely touched the Grand Strand. Although prices have not grown at the explosive 2005 rates experts suggest that they are correcting to a normal rate. Growth predictions bode well for real estate investment in the area. Adding to the Grand Strands attractiveness to investors, home buyers and visitors are 60 miles of some of the most pristine beaches in America, great shopping, live Broadway style shows, music for all types of fans and restaurants for every taste. The moderate year round temperatures entice outdoor sports enthusiasts from all over the world.

Affordable prices have long drawn families looking for an inexpensive vacation to SC beaches. The Myrtle Beach city government and the Chamber of Commerce have worked hard to lure conventioneers to the city. The push to bring in high-end commerce and luxury residential development is paying off in a new look and feel for the Grand Strand.

Local developers, expecting continuous growth, are working to create projects that appeal to family and urbanites. With 14 million visitors a year the market is ripe for sales of residential, vacation or investment property along the Strand. Property in the area is holding its price or increasing. Although not bullet proof, Myrtle Beach is not suffering the price drops found in other parts of the country.

New Developments
Anticipating more growth and the influx of business to the area developers are pushing to stay ahead of the curve.

Market Common, a $150 million urban village of 113 acres that will include 181 apartments, 1,441 townhomes and condominiums, and 600,000 square feet of high-end retail and restaurant space; the project is part of the redevelopment of the former Myrtle Beach Air Force Base.

The Hard Rock Theme Park, scheduled to open in 2008, is a 140-acre, $400 million project designed and developed by HRP Myrtle Beach Operations. The first-of-its-kind park will include more than 40 attractions, an amphitheater, shows, roller coasters, playgrounds, dining, and retail.

Population/Growth
Myrtle Beach’s projected population for 2007 is 252,000. Job growth for 2006 was 6.3 percent. Employment grew by 5 percent in 2006 and is expected to increase another 3.9 percent in 2007. The area’s population grew 21 percent between 2000 and 2006.

From 2005 to 2006, the Myrtle Beach area was the fourth-fastest-growing area in the nation, according to data from the U.S. Census Bureau.

With millions of baby boomer retirements on the horizon, continuing growth, development and rising prices of real estate seems inevitable.

New Residents
Florida has become less attractive to retirees since the disastrous hurricane seasons of the past two years. Retirees, especially, are drawn to the coast for the diverse population and availability of affordable housing. Non-retirees, including families with children are attracted to the areas shopping, beaches, year round sports and availability of jobs.

The Horry County school district is projecting a need for between nine and 19 new schools in the next decade to accommodate between 11,000 and 20,000 new students.

Local residents are adjusting to the new growth. The benefits that come with growth include better shopping, more attractions and a larger tax base to help support and repair the infrastructure. With the benefits comes crowded highways and longer lines in stores and restaurants.

It’s a Buyer’s Market!

November 28, 2007 by winnergirl68

With real estate market correcting itself, and prices coming down, it has become a great buyers market. Let us know any questions you might have regarding investing in the Myrtle Beach Area.

Happy Holidays!

November 27, 2007 by winnergirl68

Thanks for visiting and here’s hoping you’re having a great holiday season thus far. We’re here 24/7 to address your real estate needs. If you have any questions regarding property in the area, please feel free to use our blog and we’ll address your needs ASAP.

The folks at Myrtle Beach Real Estate

Myrtle Beach market picks in up in last quarter

November 27, 2007 by winnergirl68

Interest in the Myrtle Beach market, both at home and overseas, is picking up briskly in the last quarter of 2007.