Just Sold

Good news! This single family home located at 1021 Autumn Drive in the Pines of St. James has closed. The house went under contract on June 19, 2007 and the buyers and seller successfully closed on July 13, 2007. This home has three bedroom and two bathrooms. The sale price was $151,500. Additional information about this home can be found at http://1021autumndrive.kathyrukat.com/.

If you currently have a home in the Myrtle Beach area that you would like to sell or you are looking to move to Myrtle Beach or purchase an investment property in Myrtle Beach, please give me a call!

Just Sold

Good news! Houses are selling in Myrtle Beach! A buyer client of mine recently purchased this three bedroom, 2 bathroom home for $174,900. If you are interested in purchasing a home in the Myrtle Beach area, please give me a call!

Foreclosure Information

Headlines about foreclosure and the growing problem cover newspapers both on a local and national level. What can you do if you are facing foreclosure, think foreclosure is in your future or are in the middle of the foreclosure process?

REALTORS can help with the problem. Depending on where you are in the foreclosure process, you may be able to sell your home and avoid foreclosure all together. A REALTOR can help you price your home for a faster sale and help stage your home to attract homebuyers. If you are behind on your payments, a REALTOR can work with your bank on a short sale.

If you think foreclosure is in your future or you are having trouble making your payments, talking to your lender is the biggest piece of advice I have for you. Making that call and admitting you have a problem can be tough, but most lenders will work with you to come up with a payment plan that you can afford. Lenders are in the lending business, not the real estate business.

The National Association of REALTORS has several informative brochures on foreclosure and predatory lending. The best way to avoid foreclosure is to get into the right kind of loan for your financial needs. Read through the attached brochures to inform yourself, and let me know if you have any questions or if I can help you with a foreclosure or pre-foreclosure situation.

How to Avoid Foreclosure and Keep Your Home
How to Avoid Predatory Lending

My motto is "Helping You Build the Sandcastle of Your Dreams!" Homeownership can help you build long-term wealth, but foreclosure can hurt your credit, your future and your community. If you need help, call me today and let's work together to find the best way out of a bad situation.

Homeowners' Insurance Bill Signed into Law

As any coastal homeowner can tell you, homeowners' insurance premiums were a hot topic of conversation over the last year. Many policies were not renewed and those that were renewed carried higher premiums. Most hard hit were condo complexes between Business 17 (Kings Highway) and the Intracoastal Waterway. State Legislature worked hard to remedy the situation. A temporary fix was put into place in March 2007. The wind pool line was expanded to the Intracoastal Waterway.

Recently, the House and Senate agreed on amendments to H.3820, the Omnibus Coastal Property Insurance Reform Act, making insurance reform permanent. The passage of this bill was a big "win" for the citizens of South Carolina's coast. Among other things, the bill would create catastrophe savings accounts, establish incentives for insurance companies to write additional policies in the wind and hail zone, expand the cancellation notice period and force insurers to reveal catastrophe models to the Department of Insurance. The Senate made the wind pool expansion that took place in March 2007 permanent. The bill was signed into law on Monday, June 11, 2007 by Governor Mark Sanford. Bill signing ceremonies were held in Myrtle Beach and Charleston.

June 2007 MLS Stats

At the end of each month, I am going to post the end of the month MLS stats. I am a member of the Coastal Carolina Association of REALTORS that serves Horry and Georgetown counties plus a few surrounding areas.

I defined residential homes as single family detached homes and single family new construction as these are the most popular residential properties.

Total Active SFH - 4,906
Average Listing Price - $508,403
High Price - $26,500,000
Low Price - $6,000

Total Pending SFH - 944
Average Listing Price - $290,174
High Price - $3,800,000
Low Price - $234,900

Total Sold SFH - 301
Average Sold Price - $297,509
Average List Price - $310,663
High Price - $4,350,000
Low Price - $36,500

New SFH Listings Added in June - 1,009

As you can see with the number of sold listings versus total listings, the Myrtle Beach market is a Buyers' Market. However, when you compare the sold price versus the list price, homes are selling for an average of 96% of the listings price. This percentage has held over the last few years.

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The condo and townhouse category includes condos, townhouses, 1/2 duplexes and new construction projects.

Total Active Condos/Townhouses - 7,880
Average Listing Price - $285,259
High Price - $2,995,000
Low Price - $46,500

Total Pending Condos/Townhouses - 1,603
Average Listing Price - $281,925
High Price - $2,300,000
Low Price - $45,000

Total Sold Condos/Townhouses - 325
Average Sold Price - $377,189
Average List Price - $383,682
High Price - $875,000
Low Price - $46,000

New Condos/Townhouses Listings Added in June - 1,008

The condo market is similar to the single family home market in that we currently have a high level of inventory. Specifically, we have about a 24 month inventory based on current sales. Our sale price versus list price is holding high. Sellers are receiving, on average, 98% of their listing price.