Willis Journal - Real Estate Analysis » myrtle beach http://www.willisjournal.com Real Estate Analysis for Myrtle Beach Mon, 26 Jul 2010 13:54:00 +0000 en hourly 1 http://wordpress.org/?v=3.0 Myrtle Beach Real Estate Analysis YTD http://www.willisjournal.com/myrtle-beach-real-estate-analysis-ytd.html http://www.willisjournal.com/myrtle-beach-real-estate-analysis-ytd.html#comments Mon, 26 Jul 2010 13:54:00 +0000 Larry Willis http://www.willisjournal.com/?p=94 Year to Date through June 30th, 2010 MLS Statistics

The year 2010 will be one of the most interesting years as far as most of us will see in our life time.  With the extremely low interest rates along with the Great Deals available, it is a once in a lifetime opportunity for someone to make a great investment in real estate.  People are still sitting on the side lines thinking the market may get worse while others have already made the purchase.  If you are planning to finance the property, now is the time to make the move before rates go back up.

If you were to purchase a $200,000 property at today’s interest rate, of approximately 4.75%,(payments of $834.64 on $160,000) versus waiting until the rate goes back up, to 6.75%, (payments of $1,037.76 on $160,000) and put 20% down; you will have saved $73,123 over the life of the loan.  Another interesting point is basically you could afford a home that is worth $73,123 more today.  That is an astonishing 36% increase in the value of your property.  As you can see from this analysis, if you wait, you are going to lose out on a great deal.

We have just completed doing the YTD sales for our market as reported by the CCAR MLS and have the results shown for you below:

Units Sold

% of Asking Price

% of Distressed Sales

Regular Re-sales

Residential

2,066

92.91%

25.27%

74.73%

All Condos

1,751

91.64%

37.80%

62.20%

Ocean F/V

781

90.07%

43.14%

56.86%

Land

364

81.29%

36.54%

63.46%

We still have a lot of short sales and foreclosures available and they are definitely having a huge impact on values of property here at the beach as it is probably affecting your local market.  Some of our clients need to sale a property in another area of the country before they purchase a property here at the beach.  Let us know how we can help you, we will be glad to assist you with any questions.

Be ready for some great things happening at the beach!!
Life’s A Beach and We Sell It!!
The Willis Team

Information is deemed reliable but not guaranteed

bot.html) Myrtle Beach Real Estate Analysis YTD

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]]> http://www.willisjournal.com/myrtle-beach-real-estate-analysis-ytd.html/feed 0 Boardwalk Oceanfront Tower – Oceanfront Condos http://www.willisjournal.com/boardwalk-oceanfront-tower-oceanfront-condos.html http://www.willisjournal.com/boardwalk-oceanfront-tower-oceanfront-condos.html#comments Sat, 12 Jun 2010 01:38:32 +0000 Larry Willis http://www.willisjournal.com/?p=92 Myrtle Beach has seen many changes this past year. It’s no wonder Boardwalk Oceanfront Tower has been distinguished as one of the best Oceanfront Developments along the Grand Strand!! With great rental history and accommodations in such a magnificent Oceanfront Resort, you are setting the standard along the BEACH!! To give you a better understanding of the activity at Boardwalk Oceanfront Tower, we are presenting you with a market analysis as provided by the CCAR/Multiple Listing Service as of June 9, 2010.

In 2009, Number of Bedrooms Number of Units
23 units were Sold 1 Bedrooms 18
  2 Bedrooms  5

In just the last 90 days there has been Four (4) Sales already, which is fantastic!!! The MLS shows there are a total of Eighteen (18) units Listed with Eight (8) under contract, which means there are 12 Sales projected already for 2010 and this is in line to surpass all of last year!!!

bot.html) Boardwalk Oceanfront Tower Oceanfront Condos

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]]> http://www.willisjournal.com/boardwalk-oceanfront-tower-oceanfront-condos.html/feed 0 The Ashworth – Oceanfront Condos http://www.willisjournal.com/the-ashworth-oceanfront-condos.html http://www.willisjournal.com/the-ashworth-oceanfront-condos.html#comments Sun, 06 Jun 2010 18:52:49 +0000 Larry Willis http://www.willisjournal.com/?p=88 Being a resident of The Ashworth, which is considered one of the most Upscale Oceanfront Developments along the Grand Strand, we wanted to let you know about the activity in your Resort. We are presenting you with a market analysis as provided by the CCAR/Multiple Listing Service as of June 6th, 2010.

In 2009, Number of Bedrooms Number of Units
5 units were Sold 3 Bedrooms 4
  4 Bedrooms  1

In just the last 90 days there has been Two (2) Sales already, which is fantastic!!! The MLS shows there are a total of Eight (8) units Listed with Two (2) under contract, which means there are 4 Sales projected already for 2010 and this is just the 1st half of the year compared to all of 2009!!!

bot.html) The Ashworth Oceanfront Condos

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]]> http://www.willisjournal.com/the-ashworth-oceanfront-condos.html/feed 0 Myrtle Beach MLS Stipulation of Sale Analysis http://www.willisjournal.com/myrtle-beach-mls-stipulation-of-sale-analysis-2.html http://www.willisjournal.com/myrtle-beach-mls-stipulation-of-sale-analysis-2.html#comments Thu, 27 May 2010 14:59:49 +0000 Larry Willis http://www.willisjournal.com/?p=48 We have had many questions concerning our sales here at the beach about Short sales, Foreclosures, and Regular Sales. Some people think because it is a buyer’s market that they can offer 50% on the dollar for a property. There are some great deals still left but the steals are gone. The correction has been dramatic for a lot of seller’s; and people that thought they could not afford a property here at the beach a few years ago can now get something in their price range.

I will go through the Sales YTD by group and category and the percent that they were sold based on listing price according to our Coastal Carolina Association of Realtors MLS.

Residential

% of Asking Price
Aver. Days on Market
% of Total on MLS
Pre-Foreclosure or short sale 88.68% 291 05.24%

Foreclosure

93.97% 114 17.84%
Lender Approved Short Sale 95.76% 231 02.37%
Auction     00.08%
Regular Sales/ No Stipulation 92.51% 194 74.47%
       
       
Condos
% of Asking Price
Aver. Days on Market
% of Total on MLS

Short Sale

96.00% 303 10.42%
Foreclosure 96.77% 101 26.51%
Lender Approved Short Sale 93.36% 362 02.29%
Auction     00.18%
Pre-Foreclosure 99.89% 208 00.27%
Regular Sales/ No Stipulation 89.07% 199 60.33%
       
       
Land
% of Asking Price
Aver. Days on Market
% of Total on MLS

Lender Approved & Short Sales

80.31% 280 05.13%
Foreclosure 86.58% 139 26.50%
Auction     00.43%
Pre-Foreclosure     00.43%
Regular Sales/ No Stipulation 79.56% 186 67.51%

We hope you find this interesting. If you have any questions, give us a call and we will be glad to help.

The Willis Team wishes you, your family and our troops a very happy, relaxing, and safe memorial weekend and pray for peace and safety! We have attached a You Tube Video that is appropriate for this Holiday! We hope you enjoy it.

http://www.youtube.com/watch?v=hkGzqpGx1KU

bot.html) Myrtle Beach MLS Stipulation of Sale Analysis

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]]> http://www.willisjournal.com/myrtle-beach-mls-stipulation-of-sale-analysis-2.html/feed 0 Anderson Ocean Club – Myrtle Beach Condos http://www.willisjournal.com/anderson-ocean-club-myrtle-beach-condos.html http://www.willisjournal.com/anderson-ocean-club-myrtle-beach-condos.html#comments Sun, 18 Apr 2010 16:23:13 +0000 Larry Willis http://www.willisjournal.com/?p=85 Myrtle Beach has seen many changes this past year. It’s no wonder Anderson Ocean Club has been noted one of the most Luxury Oceanfront Developments along the Grand Strand!! With far superior bedding and accommodations in such a magnificent Oceanfront Resort, Anderson Ocean Club is setting the standard on the BEACH!! To give you a better understanding of the activity at Anderson Ocean Club, we are presenting you with a market analysis as provided by the CCAR/Multiple Listing Service as of April 24, 2010.

In 2009, Number of Bedrooms Number of Units
3 units were Sold Efficiency 1
  1 Bedrooms  1
  2 Bedrooms 1

There has been Three (3) Sales already in 2010, which is fantastic for just the 1st Quarter of the Year. The MLS shows there are a total of Twenty (20) units Listed with Six (6) under contract, which means there are 9 Sales projected already for 2010 and this is just the 1st Quarter compared to all of last year!!!

bot.html) Anderson Ocean Club Myrtle Beach Condos

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]]> http://www.willisjournal.com/anderson-ocean-club-myrtle-beach-condos.html/feed 0 The Bluffs on the Waterway – Carolina Forest Real Estate http://www.willisjournal.com/the-bluffs-on-the-waterway-carolina-forest-real-estate.html http://www.willisjournal.com/the-bluffs-on-the-waterway-carolina-forest-real-estate.html#comments Sun, 28 Feb 2010 19:42:18 +0000 Larry Willis http://www.willisjournal.com/?p=69
Now Accepting Listings
Kick off 2010 the right way by teaming up with THE WILLIS TEAM!

The American dream is still alive and well, and owning a home is one of the biggest parts of that Dream. As a resident of The Bluffs on the Waterway you are fortunate to live in such a premier community, living the dream. It’s no wonder that The Bluffs has been one of the most active communities along the Grand Strand!! To give you a better understanding of the activity, we are presenting you with a market analysis according to the CCAR MLS as of February 26th, 2010.

Homes – There has been 10 homes sold in the last twelve months. 8 interior homes sold with an average of $131.05 per heated square foot. 2 waterway homes sold with an average of $147.60 per heated square foot. There are currently 21 homes listed for sale and 4 of those homes are pending contract. 2 waterway homes are listed with an average of $201.10 per heated square foot, while 15 interior homes are listed with an average of $148.61 per heated square foot.

Land – There has been 15 lots sold in the last twelve months. 3 waterway lots sold with an average price of $211,633 and 12 interior lots sold with an average price of $63,416.67. There are currently 65 active lots listed and 3 of those lots are pending contract. 10 waterway lots are listed with an average price of $334,960 and 52 interior lost are listed with an average price of $103,677.56.

bot.html) The Bluffs on the Waterway Carolina Forest Real Estate

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]]> http://www.willisjournal.com/the-bluffs-on-the-waterway-carolina-forest-real-estate.html/feed 0 Plantation Lakes – Carolina Forest Real Estate http://www.willisjournal.com/plantation-lakes-carolina-forest-real-estate.html http://www.willisjournal.com/plantation-lakes-carolina-forest-real-estate.html#comments Mon, 22 Feb 2010 01:16:15 +0000 Larry Willis http://www.willisjournal.com/?p=72
Now Accepting Listings
Kick off 2010 the right way by teaming up with THE WILLIS TEAM!

Myrtle Beach has seen many changes this past year. As a resident of Plantation Lakes you are fortunate to live in such a premier community here in Paradise. It’s no wonder that Plantation Lakes has been one of the most active communities along the Grand Strand!! To give you a better understanding of the activity, we are presenting you with a market analysis according to the CCAR/MLS as of February 17, 2010.

HOMES-There has been 36 homes sold in the last twelve months from February 17th, 2009 with an average sold price of $439,328 which is an average of $132.68 per heated Sq. Ft. There are currently forty-nine homes listed for sale with an average list price of $514,823 which is an average of $156.56 per heated Sq. Ft. and 9 of those are Pending Contract.

LAND-There has been 9 lots sold in the last twelve months from February 17th, 2009 with an average sold price of $92,311. There are currently 76 lots listed for sale with an average listed price of $135,456 and 2 of those are Pending Contract.

bot.html) Plantation Lakes Carolina Forest Real Estate

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]]> http://www.willisjournal.com/plantation-lakes-carolina-forest-real-estate.html/feed 0 Margate Tower – Myrtle Beach Oceanfront Condos http://www.willisjournal.com/margate-tower-myrtle-beach-oceanfront-condos.html http://www.willisjournal.com/margate-tower-myrtle-beach-oceanfront-condos.html#comments Tue, 16 Feb 2010 17:16:07 +0000 Larry Willis http://www.willisjournal.com/?p=76 Myrtle Beach has seen many changes this past year. It’s no wonder Margate Tower has been one of the most active Oceanfront Developments on the Grand Strand!! To give you a better understanding of the activity at Margate Tower, we are presenting you with a market analysis according to the CCAR MLS as of February 16, 2010. Below is a graph of the number of units SOLD by quarter for the year 2009.

As you can see from this graph, it has been an eventful year for 2009 with the increasing amount of Buyers coming to the Grand Strand; it is looking even better this year!! In 2009, Margate Tower closed 4 Two Bedroom Units, 23 Three Bedroom Units, and 12 Four Bedroom Units. With this trend continuing, NOW is a perfect time to list your condo!

bot.html) Margate Tower Myrtle Beach Oceanfront Condos

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]]> http://www.willisjournal.com/margate-tower-myrtle-beach-oceanfront-condos.html/feed 0 Market Analysis – Comparing 2006 to 2009 Part 1 of 2 http://www.willisjournal.com/market-analysis-comparing-2006-to-2009-part-1-of-2.html http://www.willisjournal.com/market-analysis-comparing-2006-to-2009-part-1-of-2.html#comments Wed, 27 Jan 2010 18:30:04 +0000 Larry Willis http://www.willisjournal.com/?p=33



bot.html) Market Analysis Comparing 2006 to 2009 Part 1 of 2

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