MORE BUYERS are coming to Myrtle Beach looking for a deal… and they’re finding them. I see it in my business… and other agents in town confirm it.

Realtor.com is also showing an increase in web traffic for Myrtle Beach… with a 24.6% increase in search activity, year over year. Myrtle Beach now ranks 42nd in the list of 135 national markets with the biggest growth in web traffic. Realtor.com is the national home search website of the National Association of Realtors.

Home and condo prices continue to decline… driven by bank foreclosures and short sales. Other motivated sellers want to cut their losses and move on. Expect more market weakness this fall as monthly carrying costs begin to take their toll on owners.

MLS data shows that Grand Strand home prices are down 7% and Grand Strand condo prices are down 20%, year over year. It’s been a tough year for sellers… but a great year for buyers.

We’ve got some units here that are back to their original selling prices, said Coastal Carolina Association of Realtor’s market analyst Tom Maeser. In some cases with new homes, they’re selling below what they were selling for when they were first built.

There are still “hurdles to overcome” said Maeser including tight credit markets, and the uncertainty surrounding the presidential election.

Investment opportunities abound in Myrtle Beach for buyers with cash or great credit… who are willing to take a long term (3-5 year) perspective. Some of my clients have picked up amazing bargains.

For more information on “Best Buys” and to order my Special Report on “How to Maximize Your Investment in a Buyer’s Market”… go to my website BarbaraChartier.com , or call me toll-free at 1-888-494-8654.

Data Resource: Jessica Foster, The Sun News, Myrtle Beach

SELLING A HOME in Myrtle Beach is a legal transaction subject to the laws of the State of South Carolina. That’s why most property owners let a professional Realtor® and attorney handle the paperwork for them… they want to stay out of trouble.

Today’s answer in the series - “Answers to the Ten Most Common Questions Home Sellers Ask” – addresses a legal issue.*

Question #9 - “If there is something wrong with my Myrtle Beach home, do I have to tell the buyer?”

ABSOLUTELY – South Carolina has real estate consumer protection laws that benefit both buyer and seller. Not only is it in the seller’s best interest to disclose everything regarding the state of the property, it is also illegal not to do so.

Every seller of residential property is required to fill out a Residential Property Condition Disclosure Statement provided by the State. As the seller, you are responsible for giving this completed form/questionnaire to the buyer prior to signing a contract for sale. Your Realtor® is also required to disclose any material facts about the property which he/she knows.

What to do? Sellers who think they have a problem can hire a licensed Home Inspector to inspect the property prior to putting it on the market… and get the problem fixed. A seller who goes above and beyond the law’s requirements for home inspections and disclosure will make buyers more comfortable about buying his/her home and, in some cases, even pay more for it.

*This Q & A is not offered as legal advice. For specific legal advice on this or any real estate related issue consult your attorney.

Next Monday - “How can I tell a good offer from a bad one?”
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For more information on preparing your property for sale, order Barbara’s free Special Report: “7 Insider Secrets on Showcasing Your Home for a Successful Sale.” Order online at www.BarbaraChartier.com , or call her 24/7 hotline, toll-free, at 1-888-494-8654 Ext 224… for recorded directions.

SELLING A HOME is an important investment decision – one wrong step can cost the seller dearly. That’s why I’ve compiled this list of “Answers to the Ten Most Common Questions Home Sellers Ask.”

Question #8 - “What do I need to do to prepare my home for sale?”

WOW YOUR BUYERS – Selling your home involves more than simply putting a sign in the front yard, particularly in today’s highly competitive market. Most prospective buyers make their decisions based on the emotional reactions they form upon first seeing your home. You want them to establish a connection to your home and see themselves living comfortably in it.

The principle is the same for investment property. In Myrtle Beach, where most of the property is investor-owned, buyers are looking for homes or condos in mint, move-in condition. It’s difficult to have work done on property from a distance, and most investors do not want to spend their family’s vacation time in Myrtle Beach fixing up property.

To maximize your home’s appeal to potential buyers, you need your property to look its best. It’s the “WOW” factor… buyers see it and want it. Prepare your home for sale by fixing it, cleaning it, painting it, and staging it to appeal to buyers. Showcase your property so that it will stand out in the minds of buyers. Modest investments of time and money can greatly improve salability and may bring you a higher price.

Next Week - “What if there’s something wrong with my home? Do I have to tell the buyer?”
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For more information on preparing your property for sale, order Barbara’s free Special Report: “7 Insider Secrets on Showcasing Your Home for a Successful Sale.” Order online at BarbaraChartier.com , or call her 24/7 hotline, toll-free, at 1-888-494-8654 Ext 224… for recorded directions.

SELLING A HOME involves a lot of hard work and expertise, particularly in today’s market. Setting the price, marketing the property and liability concerns are the primary reasons sellers turn to a Realtor®, according to research by the National Association of Realtors®.

This Monday morning series – “Answers to the Ten Most Common Questions Home Sellers Ask” – is written with you in mind.

Question #7 – “How can I find the right Realtor® in Myrtle Beach?”

LOOKS OUT FOR YOU – Take time to interview each potential agent. Look at the professionalism of his or her marketing materials and get a feel for how comfortable you feel talking with this person. (I mentioned the importance of compatibility last week.) Don’t be afraid to ask for references.

Evaluate candidates on the basis of their experience, qualifications, enthusiasm, and personality. Most importantly, make sure you choose someone who is going to put in a lot of hard work on your behalf.

You should feel confident that the agent you choose is a trustworthy and knowledgeable individual, working full-time and representing a solid and reputable agency, who will treat your best interests as paramount. If you don’t, look for someone else.

Next Week – “What do I need to do to prepare my home for sale?”
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Barbara Chartier is a professional you can trust to put your priorities and your family first. For more information about Barbara, go to the Meet Barbara page of her website.

MORE HOME BUYERS ARE PAYING CASH for property in Myrtle Beach. In the first half of 2008, 22% of the buyers paid cash, compared to 16% in 2007 – an increase of 37% year over year.

Who’s paying cash?

 Second-home buyers of vacation / investment property… older buyers looking to diversify their investments.
 Baby-boomers looking ahead to retirement in Myrtle Beach… some have inherited the money, or taken it out of another real estate market.
 Foreign nationals taking advantage of the weak dollar.

Working the credit crunch.

The tightening of the credit market is working to the cash buyer’s advantage. It’s a lot tougher to get a mortgage these days, especially on investment property. The credit crunch has narrowed the pool of qualified buyers considerably.

Cash buyers have more negotiating power. Sellers love cash buyers because sales are not contingent on financing and they can close quicker.

Follow the money.

Is it true that people who can pay cash for vacation / investment property are better real estate investors? Not necessarily. But they do have sufficient financial resources to enable them to risk entering a real estate market a little early… before it shows definite signs of recovery. They can afford to buy low now… and wait out the market.

It’s a buyer’s market in Myrtle Beach. Right now there are some amazing deals, particularly along the oceanfront… and cash buyers are making the most of them.

Barbara Chartier - For more information on great buys, call my 24/7 hotline, toll-free, at 1-888-494-8654, Ext 1. I’ll return your call within 24 hours.

Resource: Jessica Foster, The Sun News in Myrtle Beach

Selling a home can be tricky… even for experienced home sellers. Keeping up with market changes and overcoming marketing problems can be frustrating, even overwhelming. That’s why timely information is so important for success in real estate. And that’s the purpose of this Monday morning series: “Answers to the Ten Most Common Questions Home Sellers Ask.”

Question #6 – “Does choosing the right agent really make a difference?”

FITS WITH YOU - Contrary to conventional wisdom, all Realtors® are not created equal. The key to choosing the right agent is to find someone whose personal style and methods fit in with your own. Start by getting referrals from friends or by contacting local agents and setting up interviews. Never go blindly with a referral. What works for your friend may not work for you.

Success in real estate involves honest, open, communication between the seller and the Realtor®. That’s why compatibility is so important. I have found, in working with clients over the years, that when we connect personally I am better able to understand their priorities and needs and help them realize their real estate goals. When there is a fit between the home seller and the agent the whole process goes smoother.

Next Week – “How can I find the right Realtor®?”

Are we compatible? For more information about me, go to the Meet Barbara page of my website, or call my 24/7 hotline, toll-free, at 1-888-494-8654, Ext 112 to order my Personal Brochure.

Falling home prices are attracting savvy buyers to the Myrtle Beach real estate market. In June, home sales prices decreased further (down 11.1%)… but averaged fewer days on market (DOM) (down 10% to 222 days) – primarily because of bargain hunters. Lower priced homes (under $350,000) are benefiting the most.

It’s a buyer’s market.

Sellers are slowly coming to terms with the realities of a buyer’s market. If they want to sell their property, they have to offer buyers a bargain. That often means lowering prices to pre-boom levels, near or below the seller’s original purchase price. And that’s just what buyers are looking for.

What does the future hold?

S.C. Realtors® expect further decreases in home sales and prices over the next six months according to July’s S.C. Market Confidence Report. Issues of concern are foreclosures, taxes, negative media coverage, and the election.

How can I find the bargains?

Order my Special Report – How to Maximize Your Investment in a Buyer’s Market (and Avoid the Mistakes that Cost Home Buyers Thousands of Dollars). Order online on my website’s Free Reports page, or call me, toll-free, at 1-888-494-8654, Ext 212 and follow the recorded directions.

Take a look at my Best Buys page when you visit my website – www.BarbaraChartier.com.

Barbara Chartier

Data Source: Jessica Foster at myrtlebeachonline.com.

Selling a home in any market can be a challenge. In a buyer’s market, selling a home requires considerable marketing skill and experience. This Monday morning series draws on proven experience to provide sellers with the essentials – Answers to the Ten Most Common Questions Home Sellers Ask.

Question #5 – “Can I save money by selling my home myself?”

FINDING YOUR BUYERS - Initially the idea of not having to pay a commission to an agent may be tempting to some sellers. However, any erstwhile do-it-yourself-ers should also be aware of exactly what’s involved in selling a home and make sure they have what it takes to follow through with every step. The vast majority of home owners in Myrtle Beach choose to let a professional real estate agent handle all the legwork and paperwork for them — as well as any potential problems that may arise in even the seemingly simplest of transactions.

Since Myrtle Beach is primarily a vacation / second home market, less than 20% of the property is owner occupied. Most property owners live out of town. Likewise, most potential buyers also live out of town and rely on the internet to search for property. By listing with a Realtor®, home owners have access to the Multiple Listing Service, the marketing tool that accounts for over 95% of home sales in Myrtle Beach.

Even if sellers choose to go it alone, they should still talk with a Realtor® they know and trust. Many real estate professionals will still offer to help with paperwork and marketing for home owners handling their own sales. This way, if something unexpected does happen, the seller has already built a relationship with a professional who is ready to help.

Next Week – “Does choosing the right agent really make a difference?”

All ten answers to these common questions are available on request. Just call my 24/7 hotline, toll-free, at 1-888-494-8654, Ext 225 and follow the recorded directions. I’ll get them in the mail to you within 48 hours.

For all the current listings in Myrtle Beach – updated daily – check out the MLS Search page on my website. Enter your search criteria and… voila!

Myrtle Beach is a buyer’s market right now… and it’s a tough environment for sellers. The real estate market is out of balance, i.e. the number of properties for sale far outweigh the number of actual buyers. Many properties languish on the market for months.

Today’s Q & A in this series – Answers to the Ten Most Common Questions Home Sellers Ask – speaks directly to this issue.

Question #4 – “How long will it take for my Myrtle Beach home to sell?”

Local real estate boards keep track of the average length of time properties stay on the market in the area. In Myrtle Beach, for property actually sold over the last 30 days, the average number of Days On Market (DOM) was 182 for sold homes and 286 for sold condos. Many of the unsold properties have been on the market far longer.

Why is it taking so long to sell property in Myrtle Beach? The primary reason is overpricing - sellers are having a hard time coming to terms with sales prices in a declining market. They price their property above the current market and discover too late that buyers aren’t interested. There are too many other choices. And when sellers do lower their prices, they lower them too little, too late.

Prospective sellers should pay close attention to the time frames established in their listing agreement before they sign with an agent. In a declining market, time is money, i.e. the longer the DOM, the lower the sales price. A key question for sellers to consider is: “What will happen if my home doesn’t sell within the prescribed time?”

Next Week: “Can I save money by selling my home myself?”

All ten answers to these common questions are available on request. Just call my 24/7 hotline, toll-free, at 1-888-494-8654, Ext 225 and follow the recorded directions. I’ll get them in the mail to you within 48 hours.

For all the current listings on the Grand Strand – updated daily – check out the MLS Search page on my website.

Summary: Condos sales are down 34%; prices are down 20%. Home sales are down 27%; prices are down 7%. Buyers are finding great deals.

The downtrend in the Myrtle Beach real estate market has continued in 2008 according to MLS data. Condos sales are down 34%, while prices are down 20%. Home are sales down 27%, while prices are down 7% year over year, January through June.

The condo market has been hit the hardest because of the dramatic run-up during the 2004 – 2005 boom. Single family homes prices didn’t gain as much and haven’t gone down as much over the same period of time.

What will it take to turn the market around?

Lower prices, the mortgage market, and buyer confidence are the keys to a turnaround. At some point lower prices will attract new buyers. But they will have to be able to get loans. With the mortgage market so tight right now, “cash is king,” unless you have very good credit. The politics of the presidential election is also creating uncertainty.

How long will it take to turn the market around?

No one knows for sure… a lot depends on the economy and the outcome of the elections. Analysts predict anywhere from 2009 to 2010. It still gets down to supply and demand. When supply and demand begin to balance out, the real estate market will improve. Right now, buyers have the advantage and sellers are still lowering prices to make a sale.

Good news for buyers.

It’s an ill wind that doesn’t blow some good. The bad news for sellers is good news for buyers. Buyers with cash and/or great credit are finding some very good deals. The longer the downtrend continues, the more willing sellers are to make concessions. But buyers have to decide on the kind of property they want and do their research in advance, so that they’ll know a good deal when they see it.

For more information on buying and selling in a buyer’s market, go to my website’s Free Reports page.

Resource: Jessica Foster, The Sun News, Myrtle Beach

Information is a valuable commodity for anyone selling a home today. This Monday morning series – Answers to the Ten Most Common Questions Home Sellers Ask – is designed to provide you with the information you need to make good real estate decisions in today’s market. More information is also available on my new website - BarbaraChartier.com.

Question # 3 – “How much can I expect to get for my home in Myrtle Beach?”

Know Your Competition – For the most part, pricing will depend on how much similar homes are selling for. It’s important to know your competition, even though each home is different. The best price is one that takes all of the property’s advantages and disadvantages into account as well as market trends and the goals of the seller.

Market trends have a big impact on sales prices. When the market is trending up, patient sellers may set a price slightly higher than that of similar property. In a buyer’s market, when prices are trending down, the homes that sell are priced slightly below similar homes in order to generate buyer interest. In general, you can expect to get less for your property in Myrtle Beach today than you could have six months or a year ago.

Next Week – “How long will it take for my home to sell?”

All ten answers to these common questions are available on request. Just call my 24/7 hotline, toll-free, at 1-888-494-8654, Ext 225 and follow the recorded directions. I’ll get them in the mail to you within 48 hours.

And check out my new real esate information center for MLS Searches and Special Reports.

ANSWERS TO THE TEN MOST COMMON QUESTIONS HOME SELLERS ASK. Selling a home or condo can be daunting, even for experienced property owners. That’s why information is such an invaluable commodity… and that’s why I’m writing this Monday morning series of ten common questions and answers.

Question #2 - “How do I find out what market conditions are like in Myrtle Beach?”

Do Your Homework - After sellers know why they want to sell, the next step is to get a clear picture of the current Myrtle Beach real estate market to determine whether factors favor them achieving their goals. Potential sellers can compile this information themselves by researching sales to find out what comparable properties are selling for, or they can talk to a Realtor® they trust who can provide them with this information as well as current insights on the market.

The general market trend is easy enough to discover on your own, e.g. right now it’s a buyer’s market in Myrtle Beach – there is a lot more property for sale than there are interested buyers. It’s a tough market for sellers, and that makes accurate research on sales of comparable properties all the more important. Most property owners, particularly those who live out of town, rely on an experienced Realtor® to do the research for them – it saves them time, reduces frustration, and eliminates costly mistakes.

Next Week – “How much can I expect to get for my home?”

If you just can’t wait for this series to unfold, all Ten Answers are available on request. Just call my 24/7 hotline, toll-free, at 1-888-494-8654, Ext 225 and follow the recorded directions. I’ll get them in the mail to you within 48 hours.

SELLING A HOME. For most people, it’s a little like being on trial: They’re faced with more questions than they could imagine, and one wrong answer could cost them dearly. For first-timers, the decisions and implications of selling their most important investment can seem overwhelming. Even for experienced home sellers and investors, keeping up to date with the changes in the real estate market — or perhaps finding ways to overcome the problems they ran into last time — can be daunting. That’s why information becomes such an invaluable commodity for anyone selling a home today.

Answers to the Ten Most Common Questions Most Home Sellers Ask. That’s the title of the new series that I’ll be featuring every Monday morning on my new website’s Ask Barbara blog. So let’s get started.

Question #1 - “How can I be sure now is the right time to sell?”

Clarify Your Motives - For some property owners, the decision to sell at a particular time is necessitated due to job relocation or some other personal factor that makes the answer to this question an easy one. However, for the majority of sellers, selling property is a more subjective matter. Therefore, one of the most important first steps any potential seller can take is to decide exactly what his or her own personal motivations for selling are.

Selling in our current buyer’s market requires motivated decision-making. If you are thinking, “Well, I don’t really have to sell right now,” then you are probably not sufficiently motivated. But make sure you count the cost of holding on to your property for another year or two… including carrying costs and the possibility of further price declines in a weak market.

Next Week - “How do I find out what market conditions are like in my area?”

OK. If you just can’t wait for this series to unfold, all Ten Answers are available on request. Just call my 24/7 hotline, toll-free, at 1-888-494-8654, Ext 225 and follow the recorded directions. I’ll get them in the mail to you within 48 hours.

“The way you live in your home and the way you sell your house are two different things.” Barb Schwarz, author “Home Staging”

Most sellers think of their homes as a place full of memories… they’ve personalized their living space to fit their lifestyle. Buyers, on the other hand, are looking for a house that they can move right into… they’ll personalize it later on.

Let go and move on. Let go of your home and begin to think of your house – a product that will attract buyers and sell because it’s priced right and looks better than the competition.

Five Simple Steps to sell your home faster… at the best possible price. Here’s what you can do.

1. Pack Up Early ~ Most people pack after their home has sold… but why not get a head start now? You’re going to have to pack anyway. Rent storage space or set aside a place in the garage. You’ll be moving soon, so this is your chance to box and label your belongings to make your move to your new home a lot easier.

2. Clean Everything ~ Clean floors, baseboards, ceiling fans, kitchens, exhausts, appliances, cupboards, bathrooms, tubs, showers. Clean the windows. Clean every exposed surface in the house. Clean inside and outside. Eliminate all odors. Clean houses are more appealing… buyers assume that clean houses are well cared for.

3. Eliminate Clutter ~ Getting rid of clutter is just as important as cleaning… in fact, they go together. You’ll have to move your clutter anyway in order to clean your exposed surfaces. Why not move them only once? If you haven’t used an item in the last month, pitch it… or pack it away. Remember, you are selling space, not your things.

4. Remove Excess Furniture ~ Less is more when it comes to furniture. Keep the basics and get rid of the extras. Then rearrange the remaining furniture to create more space. Try different room arrangements until the room looks spacious and open to you. Less furniture means more space… that’s what buyers are looking for.

5. Paint It ~ A simple, coordinated, neutral, color scheme will make your house look larger… brighter… more appealing to buyers. Why? Because buyers can move right in without having to do anything. You may be able to clean, patch and touch up your walls if you already have a neutral color scheme. However, consider re-painting rooms with bright colors and bold patterns… buyers consider these rooms as more work for them.

FOR MORE INFORMATION on how to sell your house for more money, call me at 843-902-0204. BARBARA CHARTIER, Century 21 Coastal Lifestyles

Resource: “Home Staging” by Barb Schwarz.

By Barbara Chartier, CENTURY 21 Coastal Lifestyles

A BUYER’S MARKET is a tough environment for sellers. Sales are few and far between because the market is out of balance. There’s a lot more property for sale than interested buyers… and prices keep drifting lower.

That describes the condo market in Myrtle Beach. In June, over 8000 condos were listed for sale, while only 355 condos actually sold. That’s a seller / buyer ratio of 22 to 1. Most experts believe it will take a couple of years for the market to rebalance itself.

Right now, buyers control the condo market: they believe prices are going lower… they have a lot of choices… and they are in no hurry to buy. They are cherry-picking only the best buys. So what does it take to sell in a buyer’s market?

SELLING in a BUYER’S MARKET: Do you have what it takes?

1. Motivation: You may be a motivated seller if… your monthly payments are a stretch… you bought to flip… you want to protect your gains… your personal circumstances have changed (e.g. health, family issues). Most of today’s sellers are not highly motivated… that’s why their properties don’t sell.

2. Timing: Motivated sellers want to sell quickly… time is working against them. The prime spring selling season is over and prices are likely to drift lower over the summer and fall… and on into next year. Most experts agree that it will take a couple of years for the market to improve.

3. Location: Some locations are more desirable than others. Golf condo buyers want 1st or 2nd floor end units, unless the building or townhouse has an elevator. Beach condo buyers want direct oceanfront units. You can’t change your location, but motivated sellers can overcome a location disadvantage with pricing.

4. Condition: Beautifully decorated units in mint move-in condition sell… it’s the “WOW” factor. Buyers see it and want it. Motivated sellers are willing to… fix it, clean it, paint it, and stage it in order to attract buyers. Modest investments of time and money can greatly improve salability.

5. Pricing: Motivated sellers price to sell now… at today’s market prices. Most properties on the market are overpriced… that’s why they’re not selling. Buyers look at price first. The biggest mistake sellers make in a buyer’s market is to lower their prices too little, too late.

THE FINAL TEST – OK, you’re motivated to sell quickly. Your condo is in a great location… shows beautifully… and is priced to sell. And – in the meantime – you’re getting good rental income. Oops!

Buyers won’t buy what they can’t see. If your condo is on an active rental program, it will be much less likely to sell… even if everything else is positive. Rental programs are a major problem for sellers. With so many condos on the market, buyer agents only show condos that are available on short notice.

If you’re really motivated to sell, then take your unit off the rental program this summer. You’ll get a lot more showings and greatly increase your chance of selling.

If you’d like some help with all of this, just call… or email me.

Barbara Chartier, phone: 843-902-0204, email: barbara.chartier@century21.com