Posts by : Adrianne Anderson

Thankfully, we will have inventory and more homes to sell this year. Of the new inventory that is being added to the market, a significant portion of available properties are coming from new construction. 2023 is going to be a great year to take advantage of builders offering incentives to buyers and their agents.

Fighting inflation will continue to impact mortgage rates. If inflation numbers remain high, the FED is committed to raising interest rates. Some analysts predict rates could drop into the low 5’s while others say it could climb as high as 9%. The most important factor in interest rates will be inflation.

This year, folks will continue to need help finding a place to live. Peo...

December is a tricky time for buyers and sellers. Few sellers want to list their home if they have a Christmas tree up. A lot of buyers are waiting until the holidays are over before making any moves. Attorney’s offices will close the last week of the year so real estate closings are not occurring either. These factors create a seasonal slowness that is experienced every year.

December 2022 closings: 1,108. That is significantly less than December 2021 (1,836) and December 2020 (1,825). It’s the lowest number of closings in our area since May 2020 (1,043).

December 2022 average sales price went up! Last month the average sales price was $367,064 which is an almost $6,000 increase from N...

Do you need a bigger home? 

Is a job making you move? 

Are you looking for more space, a more open floor plan or an at home office?

When your situation changes and it is time to buy or sell your property, it is critical to have a professional that you trust and who is going to work hard for you. But how do you know who that is? Only you can answer that, but when you start looking for an agent to work with, there are some things you should consider. 

When interviewing agents, consider and ask the following questions. Keep in mind, this is a big deal, and you need the right person in your corner.

How long have you been in real estate?

There is no right or wrong answer for this one, it...

What is a lowball offer?

A lowball offer is an offer significantly less than asking price and/or an offer price lower than the market value of a property. 

From a seller’s perspective:

Low ball offers are insulting. In today’s market, your property has been on the market longer than anticipated. Some of your neighbors are sharing stories of how quickly homes sold 6 months ago and other neighbors are listing their home lower than your asking price, driving your home price down. Already frustrated by the lack of showings, you finally receive an offer. And it’s for less than any home has sold for in your neighborhood in 5 years. You are furious. What do you do?

Allow yourself to be frust...

Real Estate Market and Math
 

The following information is based off of the average price of a 3 bedroom, single family home in the Coastal Carolinas Association of Realtors Multiple Listing Service and mortgage rates published by Freddie Mac.

January:

Average Price: $321,054

Down Payment (20%): $64,210.80

Mortgage Rate: 3.45%

Monthly Payment: $1,146.18

Market: Most buyers participated in multiple offer situations when purchasing a home. This competition drove buyers to offer more than list price and remove contingencies such as home inspections and appraisals. Sellers mostly dictated the terms of the sale and buyers met those demands. 

Today:

Average Price: $380,650

Down Paym...

The market always comes down to supply and demand. Those factors drive price. At the moment, higher interest rates are reducing the number of people interested in buying. Not only primary home buyers but second home buyers and investors have decided to put their plans to purchase on hold until interest rates come back down. The FED has said they are most likely raising the rates again before the end of the year so be prepared to see another increase in interest rates. There’s no guarantee that rates will not continue to climb next year. 

This decrease in demand has allowed supply to catch up. Our inventory in the Coastal Carolina Association of Realtors MLS has more than doubled. However...

Southern Palmetto Farms

Owners Heath and Stephanie Squires are long time friends, and I am thrilled for the amazing agro-tourism business they have developed just down the road from where I grew up! In October you can enjoy the pumpkin patch, corn maze, wagon rides, inflatables, animal exhibits, food trucks, and of course, my favorite, Fright Nights! There is something for everyone and a truly fun-filled day!

Georgetown Wooden Boat Show

The 33rd Annual Wooden Boat Show returns October 15 and 16 in Downtown Georgetown with all proceeds benefiting the SC Maritime Museum. The Georgetown Wooden Boat Show – always held on the third weekend in October – features one of the Southeast’s best w...

My advice to sellers: take your time and listen to the market. It’s most likely going to take more time and some negotiating to get your property sold. Pricing your home correctly is a moving target in a changing market. Comparable properties are tough to pick because the market conditions have changed significantly. Base your price on recent sales and adjust as needed.

It’s important to have professional photos, 3D tours, and high quality marketing materials so your listing looks better than your neighbor’s. We’re back to competing against homes in your area now that there are more homes on the market.

Scarcity has helped prices increase. With more supply and less demand, prices are go...

Short answer: Buyers are waiting. According to the United States Department of Housing and Urban Development (HUD), prices for new homes jumped $80,000 in two years. It normally takes a decade or longer for prices to increase by that much. Mike Tyson says everyone has a plan until they get punched in the mouth. That price increase is an $80,000 punch in the mouth. Interest rates are balancing out to a historically low 6%. Yes, they have increased from 3% during the pandemic. But that was an extra-ordinary set of circumstances. We’re back to business as usual (only better because 6% is really low.)

Buyers haven’t given up on their dream of owning, they are just recovering from a significa...

So many people think of Myrtle Beach area as just the rides, nightlife and entertainment of Downtown Myrtle Beach, when in reality Myrtle Beach sits in the middle of 60 miles of uninterrupted shoreline that encompasses all of Horry County and parts of Georgetown County. There is so much more the Grand Strand than just the area officially known as Myrtle Beach. At the upper end of Horry County, bordering North Carolina, are the towns and communities that make up the coastal North End. Including towns like Little River, Cherry Grove, Atlantic Beach, and North Myrtle Beach, the North end is a little quieter than the hustle and bustle of Myrtle Beach. A vacationer and resident's paradise, thi...

So many people think of Myrtle Beach area as just the rides, nightlife and entertainment of Downtown Myrtle Beach, when in reality Myrtle Beach sits in the middle of 60 miles of uninterrupted shoreline that encompasses all of Horry County and parts of Georgetown County. There is so much more to the Grand Strand than just the area officially known as Myrtle Beach. Just down the road from the high rises of Myrtle Beach, the South end beaches and adjacent communities are truly the best of all worlds. You will find world renown golf, plantations, historic gardens, some of the best fishing in the South and excellent schools. Surfside is known as the Family Beach, with a fun, clean atmosphere. ...

August Market Update:
The news of the market’s demise has been grossly exaggerated. Did you know that single-family home prices went up in July? Did you know that mortgage rates have only gone up 0.5% since March of this year? And they are almost 0.8% LOWER than they were in June. FYI- the Federal Funds interest rate increases in the news ARE NOT the same thing as the prevailing Mortgage Interest rate.
It's easy to be attracted to market busting, the sky is falling, calamitous news. But… I look at numbers and facts. Here are a few figures and stats from our latest report from the Coastal Carolina Association of Realtors.
Supply is up. Praise the Lord, hallelujah, we have more homes on the ma...

Price Improvement - 4903 Yaupon Circle, Myrtle Beach, SC 29575

Location, location, location! This home is ideally situated in Lower Long Bay Estates, a tucked away Oceanfront neighborhood that neighbors Myrtle Beach State Park. This beautiful single level home boasts over 3500 square feet with 4 bedrooms, 3 bathrooms, ample storage, a bright Carolina Room and a well appointed kitchen. With great outdoor entertaining space, 10 foot ceilings throughout the home, and a voluntary HOA neighborhood, you need to take advantage of the recent price reduction on this home!

Let me take you on a personal tour of this home!

Country Estate - 5417 Privetts Road, Conway, SC 29526

This magnificent pro...

WOW! If you have been thinking about moving to your own little slice of heaven in the country, look no further than this breathtaking listing at 376 N. Cox Road in Loris. Just outside downtown Loris, this custom built home sits on over an acre. This is truly one of the most gorgeous homes I have seen and I am thrilled to have the opportunity to list it. This inside is gorgeous, you will love the vaulted shiplap ceiling in the living room and the light pouring in from the doors overlooking the backyard. The kitchen is a chef's dream, and I would love to cook on the ample 36 inch gas range. Out back is paradise, an oversized back porch leading to the pool with cool decking, and a pool house...

Beautiful, expansive home now available in the private Oceanfront community of Long Bay Estates, situated beside Myrtle Beach State Park. 4903 Yaupon Circle is a single level home with 4 large bedrooms and 3 bathrooms. With over 3,500 sq. ft. of living space and 10 foot ceilings throughout the home (12 ft. vaulted in the living room), you will have plenty of space to entertain, relax and enjoy. This home features a large Carolina Room off the living room, beautiful chef's kitchen, formal dining and office area, and lots of large closets and thoughtful storage space. The master suite is stunning with his and hers closets, large windows overlooking the patio, and an ensuite bathroom that go...

For single-family homes, the average price dropped $30,000 in June 2022. We experienced a similar drop in October 2020 and thought it was a market correction. Then, over the course of 19 months, the average price of single-family homes increased by more than $100,000. Good news: the inventory of homes has increased slightly for 3 months in a row.

As a listing agent, I'm experiencing slightly longer pending times and clients are no longer able to pick their price. What has taken days to sell is taking weeks. As a buyer's agent, sellers are more inclined to negotiate repairs, price, etc.

For those waiting for a crash or a bubble to pop... I'm not sure that's happening. I think we're heade...

I am thrilled to let you all know that 416 Wallingford Circle is now available! This beautiful 3 bedroom, 2 bathroom home is in the highly sought after Socastee school district and conveniently located between Hwy. 544 and 17 Bypass. Featuring easy access to area beaches, amazing restaurants and fun retail, this home is ideally situated close to Myrtle Beach, the Intracoastal Waterway, the Market Common, and the South End beaches and towns. You will appreciate the spacious fenced in backyard that overlooks a quiet lake. Inside the home, every space is both well thought out and accommodating. You do not want to miss the opportunity to see this home, it is truly an incredible value to be Ea...

Full Article
First, I am excited to present 1446 Winged Foot Court in the beautiful Indigo Creek Golf Plantation. This home features a wooded lot, mature landscaping, and private road. As you enter the home, you will love the vaulted ceilings that allow light to flow from the formal dining room, into the living room, and onto the Carolina Room. With a large eat in kitchen and All Seasons Room off the kitchen, this home is full of opportunities to entertain inside, before moving out to the exterior patio. The split floor plan offers a large master bedroom with his and hers closets, and an ensuite bath with stand up shower and whirlpool tub. The opposite side of the home holds the additional...

Memorial Day- Vietnam Draft Lottery

On December 1, 1969, the first Vietnam draft letter was held. An estimated 850,000 young men between the ages of 19 and 26 would be randomly selected by their birthdays. A giant glass jar contained 366 capsules (every day of the year plus Leap Day). A representative from the Armed Services Committee pulled each capsule out and that random drawing determined the draft order. If the first capsule pulled had your birthday on it, you were first in line to go to Vietnam. 

I’m struck by the method. It's so simple but it has such lasting consequences. Draftees accounted for 30% of combat deaths and they were selected by their birthday. The day that they had ...

Last, but certainly not least, Dave Ramsey's Baby Step Number 7 is the freedom from debt to be able to build your wealth and give back! You are out of debt and have already started building up your retirement, so let's continue building up your wealth and live generously!

As we discuss the final Baby Step, you have essentially paid off your debts, saved three to six months worth of expenses, are saving for your retirement and your children's higher education, and you have paid off your mortgage. With no debts, you have the freedom to truly use your hard earned dollars to be able to live and give like no one else!

This step is the most fun! 

Now it's time to live and GIVE like no one el...