SOLD in 30 days or less!

Looking over the market information today one interesting number jumped out at me, especially given the fact that we are in the Holiday Season.  234.  That is the number of homes and condos that came on the market to sell on or after November 1st that are already under contract!  Of the 234 properties only 31 of them were distressed properties.  If you remove the Distressed properties that means that almost 7 properties of the 30 that sell everyday sell within 30 days of hitting the market.

203 property sellers that are not desperate to sell, but are motivated to price their properties correclty for the market will be celebrating the end of the year without another mortgage payment, or HOA payment or taxes for 2015!

It proves that when a property comes to market and is priced correctly it doesn't matter what month it is or what the temperature is outside - it will sell.

If you have been on the market for a long time take a god look at the ONLY three reasons properties don't sell and evaluate yours -  Price, Condition or exposure.  Something isn't working and needs to be changed.

Our market doesn't stop in November and December, so don't allow this to be an excuse for you or the agent you are working with.

If you would enjoy seeing any of the market information please let me know and I'll drop it in your inbox without question.

Thanks for reading!

Is Waiting For Spring Your Best Strategy To Sell?

This is an age-old question that continues to be asked even in the 21st Century.  I believe this question must have started back in the 1950's (or before) when potential buyer's had to drive around to see every property and they didn't want to do so when the weather was cold.  I have heard the question enough that it finally caused me to do the research to see if it is still better to wait until spring like it was a few decades ago.  The market facts for the Grand Strand show two very interesting things; First the spring quarter (1st quarter) is the slowest period for sales in our market.  Second, the difference between the worst quarter and the best quarter is almost insignificant.  When you look at the total number of properties sold broken down over the four quarters we see that our area is very consistent.  Probably most areas are now, unless you have to contend with 4-5 feet of snow on the ground.  I beolieve there are a couple good reasons for this and the best one is that the Grand Strand has a large enough population now that it isn't so seasonal anymore (have you been on Hwy 17 lately since September?).  We have a large enough buyer pool to support year-round real estate sales.  Sure, the market is still seasonal for bathing suits, restaurants and gold courses, but not real estate.  The second reason is due to the advancement in technology.  Shopping for real estate starts on a couch somewhere and grows into a visit to the property.  If a potential Buyer is sitting in Toms River, NJ thinking of buying in Myrtle Beach and sees a property of interest they won't wait until beach weather to come see it.  

So, is it better to wait?  Waiting or moving forward to sell a property should be decided by your desire to sell, financial information and the other properties you'll compete against - but not the weather.

If you would like to see the quarterly report for selling volume email us at info@benguyton.com with Quarterly Report in your subject line.

What you should demand from any real estate agent you consider

Are you thinking of selling your house? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge just like a great doctor or great accountant.

You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one.

Here are the top 5 demands to make of your Real Estate Agent when selling your house:

1. Tell the truth about the price

Too many agents just take the listing at any price and then try to the ‘work the seller’ for a price correction later. Demand that the agent prove to you that they have a belief in the price they are suggesting. Make them show you their plan to sell the house at that price – TWICE! Every house in today’s market must be sold two times – first to a buyer and then to the bank.

Every house in today’s market must be sold twice: 1st to the buyer, then to the bank.

The second sale may be more difficult than the first. The residential appraisal process has gotten tougher. A recent survey showed that there was a challenge with the appraisal on 24% of all residential real estate transactions. It has become more difficult to get the banks to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the listing.

2. Understand the timetable with which your family is dealing

You will be moving your family to a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan.

This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. You agent cannot pick the exact date of your move, but they should exert any influence they can, to make it work.

3. Remove as many of the challenges as possible

It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.

Remember: If you have an agent who was weak negotiating with you on the parts of the listing contract that were most important to them and their family  (commission, length, etc.), don’t expect them to turn into Super hero when they are negotiating for you and your family with your buyer.

4. Help with the relocation

If you haven’t yet picked your new home, make sure the agent is capable and willing to help you. The coordination of the move is crucial. You don’t want to be without a roof over your head the night of the closing. Likewise, you don’t want to end up paying two housing expenses (whether it is rent or mortgage). You should, in most cases, be able to close on your current home and immediately move into your new residence.

5. Get the house SOLD!

There is a reason you are putting yourself and your family through the process of moving.

You are moving on with your life in some way. The reason is important or you wouldn’t be dealing with the headaches and challenges that come along with selling. Do not allow your agent to forget these motivations. Constantly remind them that selling the house is why you hired them. Make sure that they don’t worry about your feelings more than they worry about your family. If they discover something needs to be done to attain your goal (i.e. price correction, repair, removing clutter), insist they have the courage to inform you.