Congratulations RE/MAX Southern Lifestyles for being named Best of the Beach Real Estate Agency on the Grand Strand 2009!  The annual Best of the Beach contest held by the Sun News allows locals and visitors to vote and determine the best business in every category of businesses all along the Grand Strand.  A true reflection of consumer opinion, the recognition of Best of the Beach is very highly regarded in Myrtle Beach.  Typically, long standing local agencies and business are awarded the Best of the Beach after consistent and continuous excellence in products or services.  Congratulations to Mandy Becker and her excellent team at RE/MAX Southern Lifestyles, for becoming the local stand out in such a short time!

Well I missed July, but here are the August stats for the Coastal Carolina Association of Realtors MLS.  One piece of good news for sellers is that the number of listings declined once again. 

Active listings in our MLS = 19,214
Average days on market of current listings = 276
Sales in August = 509
New listings in August = 1,830
Sale Price/List Price Ratio = 90.94%

Visit my Myrtle Beach Real Estate Website to search the entire MLS.

Here is new legislation that might affect all of you looking to purchase a foreclosure sometime in the near future.  The Protecting Tenants at Foreclosure Act became effective May 20, 2009. It is applied to foreclosures through December 2012. The new federal law enables a legitimate tenant who is leasing a property that is foreclosed on to continue occupancy through the full term of the lease unless the new owner intends to use the property as his primary residence (in which case the new owner still must give the tenant 90 days notice to vacate). If the lease has expired or is month-to-month, the tenant is still entitled to a 90 day notice to vacate. The tenant still has to abide by the terms of the lease and pay rent, and the new owner (the buyer at the foreclosure sale often a lender) has to abide by the lease and other applicable law. The Act applies to foreclosures of all residential property not just federally related mortgage loans. It applies to multifamily property, and even mobile homes (that are legally attached to foreclosed land.

DATE: 7/21/09 

JEFF CASTERLINE EARNS PRESTIGIOUS DESIGNATION TO HELP HOMEOWNERS IN DANGER OF FORECLOSURE

Jeff Casterline of RE/MAX Southern Lifestyles has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

In the Myrtle Beach area alone, there are huge numbers of homes in danger of foreclosing. It is happening in all price ranges. Experts say that even high-priced homes are not immune.

“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” said Casterline. “It is so rewarding to be able to help sellers save their homes from foreclosure.”

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Jeff Casterline with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

The Distressed Property Institute opened in January 2008 and provides training on-site and online. The CDPE is the premier designation for Realtors helping homeowners in distress and handling short sales.

“Our goal is to educate as many people as possible so we can help as many homeowners as possible,” Charfen said.

Contact Jeff Casterline at 843-424-6900 or visit the Myrtle Beach Foreclosure & Short Sale website for more information.

Here are the Coastal Carolina Association MLS stats for June 2009.  Listings went up slightly from May and sales are up again.

Active listings in our MLS = 19,938
Average days on market of current listings = 265
Sales in June = 521
New listings in June = 1,922
Sale Price/List Price Ratio = 92.10

Visit my Myrtle Beach Real Estate Website to search the entire MLS.

Well….Better late than never.  Here are the stats for May 2009.  Listings are down and sales are up again from the month before.

Active listings in our MLS = 19,808
Average days on market of current listings = 264
Sales in May = 521
New listings in May = Not Available
Sale Price/List Price Ratio = Not Available

Visit my Myrtle Beach Short Sales & Foreclosures website for additional information about buying or selling property.

Being the huge baseball fan that I am, I am very excited to see that the ACC tournament will be coming to BB&T Coastal Field for three years beginning in 2011.  It is an eight team five day tournament.

Active listings in our MLS = 20,045 (down from 20,184 in March)
Average days on market of current listings = 257
Sales in April = 432
New listings in April = 1,931
Sale Price/List Price Ratio = 89.06%

Sales were up again in April!  That means every month this year sales have increased in our area.   There were 432 properties sold compared to just 400 in March.  Another great sign is that over 350 less properties came on the market in April than in March.  Hopefully these trends will keep up the rest of the year so we can eliminate some of the inventory. 

Visit my Myrtle Beach Real Estate website for additional information about buying or selling property.

The massive fire that ripped through Horry County last week destroyed 70 homes and 19,600 acres and is still smoldering.  Right now the Sun News is reporting the fire is 85 percent contained. 

It was kind of surreal on Thursday night as I looked out the upstairs window of my home in The Farm at Carolina Forest and saw an orange glow peaking between the homes across the street that was definitely too close for comfort.  It really was a very scary situation and we were packed and ready to leave in a moments notice.

It truly was a tense week for property owners here in the area.  Some of Myrtle Beach’s most well known communities were affected by the wildfires.  Recognized top resort communities like Barefoot Resort and Grande Dunes were ablaze and footage of burning homes and golf courses were broadcast on the national news.  Both North Myrtle Beach and Carolina Forest schools were closed, and major roads were shut down in reaction to the fires and the huge plumes of smoke that were generated. 

The fire is still burning, and the smoke still lingers especially on those early morning commutes.  Portions of Highway 90 remained closed even today. 

A huge and heartfelt thanks goes to all the firefighters who continue to work so hard to contain the fire so no other homes are affected.   For those who lost everything, your community is praying for you.

Active listings in our MLS = 20,184
Average days on market of current listings = 251
Sales in March = 400
New listings in March = 2,287
Sale Price/List Price Ratio = 90.82%

Sales were up in March.  There were 400 properties sold compared to just 325 in February.  Hopefully that trend will keep up the rest of the year. 

Visit my Myrtle Beach Real Estate website for additional information about buying or selling property.