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How Do You Claim the Mortgage Interest Tax Deduction?

Sat, Oct 14th 2023 10:00 am by Rosette Garcia Buyer Tips

When you make your mortgage payment each month, a portion of your dollars will go toward paying down your loan's principal balance. But a good chunk of your payment will also go toward paying the interest that your loan accrues.

During the earlier days of your mortgage, more of your payment will go toward interest and less will go toward paying down your loan's balance.

The good news is that you can deduct from your taxes the interest you pay on the first $750,000 of mortgage debt. And if you bought your home before Dec. 16, 2017, you can deduct the interest you pay on the first $1 million of your mortgage debt.

How much will this deduction save you?

How much you save because of the m...



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October Hurricane Season

Fri, Oct 13th 2023 10:00 am by Rosette Garcia Local Advice

Did you know that the latest a major hurricane has ever made landfall in South Carolina is Oct 15th and the latest any tropical system has hit SC is Oct 31st? That said, the only named hurricane to make direct landfall in Myrtle Beach was an unnamed category 2 storm that hit October 31, 1899. 

October storms and McClellanville seem to have an interesting relationship:

Hurricane Matthew in 2018 made landfall in McClellanville as a category 1. Our area had larger impacts from flooding after the storm than the hurricane itself. Before we named hurricanes, two other storms hit McClellanville in October: a category 3 in 1893 and  a category 1 in 1913. If you’re keeping score… only 6 named st...



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September 2023 Versus September 2022

Wed, Oct 11th 2023 11:31 am by Rosette Garcia Market Updates

Comparing last September to this September shows some surprising similarities and differences.

In 2022, the average sales price of properties in our area was $356,124. A year later, the average price is up by almost $20,000 with an average price of $374,968.

September 2023 saw 7.4% fewer closings than last year with 1,465 sold properties versus 1,582 sold properties in 2022. 

Total supply of properties for sale continues to creep up with 3.4 months of inventory for sale in 2023 versus only 2.7 in 2022. 

Last year, there were 1,448 new construction properties for sale in September. This number peaked in December at more than 1,800 new construction properties on the market. Last month, ...



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How Flood Insurance May or May Not Help Homeowners

Mon, Oct 2nd 2023 10:30 am by Rosette Garcia Local Advice

As the name suggests, flood insurance is a type of insurance policy that will pay out if your home is damaged by flood waters.

If you are taking out a mortgage to buy a home in a federally designated flood zone, you are required to buy a flood insurance policy. These zones are in parts of the country in which the risk of serious floods is high. Your lender won't give you a mortgage in these parts of the country if you don't first buy flood insurance.

To find out whether the home you are buying sits in one of these areas, enter your ZIP code in FEMA's flood map service center. Your mortgage lender will also be able to tell you whether you are required to buy flood insurance.

If your hom...



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Frequently Asked Home Decor Questions

Sat, Sep 30th 2023 9:00 am by Rosette Garcia Just For Fun

As home professionals, we're often asked questions about design, how to make improvements work and the resale value of decor ideas like kitchen renovations or bathroom updates. Here are some of the most frequently asked questions:

What is the best way to decorate a small room?

The key to small spaces is to make the size work. Don't overcrowd it with too much clutter. Use a rug to create floor boundaries, add plenty of lighting and use mirrors to reflect the light in the space.

How do I choose the right paint color for my walls?

There is no wrong answer when it comes to choosing a color. Whatever color you love, go with that. There are no rules saying you have to use a light shade in a...



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Walking the Grand Strand, Part 1

Fri, Sep 29th 2023 2:00 pm by Rosette Garcia Local Advice

We started on the south end of Pawleys Island and parked in the largest public beach access in Georgetown County. To get to the point, we walked further south and there’s a small creek that separates Pawleys Island from Debidue Beach (easily confused with Debordieu Colony). As we reached the point, we both spied Debidue Beach and realized one day we’ll need to coordinate access to the gated communities of Prince George and Debordieu to walk even further south. 

Pawleys Island is a pristine, quiet coastline. With fewer people, there were more seashells and we even came across a few starfish. With an average sold price of $2.4 million, the oceanfront homes are gorgeous. Most homes are olde...



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Create a French Country Kitchen

Wed, Sep 27th 2023 10:00 am by Rosette Garcia Just For Fun

French country is a traditional design style that delightfully blends continental European sensibilities with rustic country charm. A French country kitchen can be perfect for anyone seeking the effortless yet refined look of this style. Here are some ways to incorporate French country design into your kitchen:

Colors

Choose warm, earthy colors, such as cream, beige, off-white or light yellow, for your walls and cabinets. You can also add some splashes of color with accents like curtains, dishware or linens.

Natural materials

Blend natural wood, stone and clay into your kitchen design. Consider wooden beams on the ceiling or a stone backsplash. You can add natural textures with woven ...



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How Much Home Can You Afford … Realistically?

Mon, Sep 25th 2023 10:38 am by Rosette Garcia Buyer Tips

If you're like many Americans, your home will be the most expensive thing you own. It will be a key part of your estate as you plan for the long term. So you need to think strategically from the outset.

To start with, if you want to know how much of a mortgage lenders think you can handle, get preapproved for a mortgage before you start shopping for a home.

What is preapproval? That's when you work with a mortgage lender to determine how large of a loan that lender is comfortable giving you. To begin, you'll provide a lender with copies of your last two paycheck stubs, last two months of bank account statements, last two years of tax returns and last two years of W-2 forms.

Lenders wil...



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Should I live in North Carolina or South Carolina?

Tue, Sep 12th 2023 11:29 am by Rosette Garcia Buyer Tips

The stats below are compiled from a variety of sources. Surprisingly, NC and SC differ significantly with South Carolina having a significantly lower tax burden. Since it’s the middle of Hurricane Season, I also wanted to share storm numbers. Again, South Carolina wins! We have cheaper gasoline too! That said, I love my northern neighbors. Please don’t hesitate to ask if there’s any way The Anderson Team can you help you learn more about the area

 

NORTH CAROLINA’S TAX BURDEN 

Real estate tax rate: 2.82% (19th in U.S.) 

Vehicle property tax rate: 0.45% (32nd in U.S.) 

Income tax rate: 2.87% (36th in U.S.) 

Sales and excise tax rate: 4.36% (27th in U.S.) 

 

Number of Direct hits by...



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JUST LISTED! 289 Wedding Ln. Conway

Tue, Sep 12th 2023 11:00 am by Rosette Garcia Listings to Check Out


Opportunity awaits just outside downtown Conway! This 3 bedroom, 1 bathroom home is in a no HOA, well-established neighborhood. With stunning live oak trees this property offers a fenced in yard and a lovely covered back patio. From the front porch, you enter the home into a spacious living room that is the heart of the home. To the right are three bedrooms, and to the left is a dining area that leads to the galley style kitchen. The gas range and washer and dryer are 2020 and the HVAC was installed in 2019.

 

Check out the 3D Matterport Tour and schedule your appointment today!



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OPEN HOUSE THIS WEEKEND!

Fri, Sep 8th 2023 10:30 am by Rosette Garcia Listings to Check Out

OPEN HOUSE! Join us this Saturday, September 9, 2023 from 10:00 am to 12:00 pm for an open house at 310 73rd Avenue North, unit 3B, in Myrtle Beach. This spacious 2 bedroom, 2 bathroom condo is just a short walk to the beach in the exclusive Palm Ridge II community. Make sure you stop by to see this beautiful condo! Luke will be hosting and giving away Stella’s Homemade Ice Cream and Cakes gift cards for attendees.

Click to view details for 310 73rd Ave N, Myrtle Beach



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The Three Red Flags of Mortgage Applications

Wed, Aug 30th 2023 10:00 am by Rosette Garcia Buyer Tips

When you apply for a home loan, your lender will review your credit reports, check your credit score and pore over your finances to make sure you can afford your monthly mortgage payment. Along the way, your lender will look for certain financial missteps that might make him or her nervous about approving your application.

Late payments: Ever pay your credit card bill late? Maybe you skipped a car payment one month. The bad news? Those late payments will show up in your credit reports, which are maintained by the national credit bureaus of Experian, Equifax and TransUnion. And when you apply for a mortgage, your lender will have access to these reports to review.

Late payments remain on...



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Tips for Keeping Your Refrigerator Clean and Organized

Mon, Aug 28th 2023 3:31 pm by Rosette Garcia Just For Fun

Refrigerators are often breeding grounds for unintended science experiments and forgotten food. But it doesn't have to be that way. Getting into a routine with better refrigerator organization can help you stay on top of the food you have, reduce your grocery bills and even facilitate healthier eating. Here are a few tips to get you started.

Invest in Organizers

The best way to keep something from getting lost in the back of your fridge is to invest in organizing containers. A Lazy Susan can help you access items often pushed to the back. Soda organizers can optimize space, giving you even more room.

Use Your Vacuum to Help Clean Drawers

The mess left behind by produce in your refrige...



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Best Way To Store and Display Books

Tue, Aug 22nd 2023 9:00 am by Rosette Garcia Just For Fun

Book lovers understand the need for sufficient storage space for their favorite books. You want a place to celebrate the knowledge within and access what you need when you need it. But books take up a lot of space and are more likely to accumulate than dissipate. The best way to store and display books depends on several factors, including the size of your collection, the available space and personal preferences. Here are some ways you can store and display your books.

Use bookshelves

Bookshelves are an excellent way to store and display books. You can choose from various materials, such as wood, metal or glass, and sizes that will fit your collection. Depending on your space, you can u...



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Loan Estimate and Closing Disclosure: Key Docs

Thu, Aug 17th 2023 10:00 am by Rosette Garcia Buyer Tips

Your lender is required to send you a loan estimate after you complete your mortgage loan application. This three-page form is important: It lists the important financial details of your mortgage loan.

The loan estimate will list your loan's interest rate and monthly payment. It will also estimate how much you'll pay in closing costs, the fees charged by your lender and other third-party providers to originate your loan.

The loan estimate will also list any penalties you might face for paying off your loan too early and provide an estimate for how much you might have to pay in homeowners' insurance and property tax payments.

Why does the loan estimate matter?

Once you receive your loa...



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Expensive Mistakes To Avoid in Your Bathroom Remodel

Tue, Aug 15th 2023 11:00 am by Rosette Garcia Just For Fun

Are you thinking about remodeling your bathroom? Whether you plan to do it yourself or hire someone to complete the work for you, it can be wise to educate yourself about the most common mistakes so you can make an effort to avoid potential long-term headaches.

Here are some of the most expensive mistakes people commonly make as well as how you can take measures to avoid them:

Opting for DIY when a contractor is a better choice

When remodeling your bathroom, the odds of running into unexpected issues are considerably high. Unless you're doing something for purely cosmetic reasons, it's worth speaking to a professional before you tear down any walls or make changes to the plumbing. Whil...



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JUST LISTED and OPEN HOUSE! 230 Harbison Circle in Myrtle Beach

Mon, Aug 7th 2023 10:00 am by Rosette Garcia Listings to Check Out

Upon entering the main level of the home, you will see additional living space that can easily be an office, play room or gathering area. There is a half bath, laundry room and storage closet tucked away for convenience and ease. the kitchen flows into the family room that also has a dining area and gas fireplace. Outfitted with a spacious pantry, stainless steel appliances and granite countertops, this is an entertainer's delight. The family room leads to a large screened porch allowing you to enjoy summer evenings longer. The primary suite is ideally located on the first floor with tray ceilings and a spacious ensuite bathroom with double vanities, standing shower, linen closet, water c...



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July 2023 Market Recap

Sat, Aug 5th 2023 1:00 pm by Rosette Garcia Market Updates

New Single Family Listings: 939 homes were added for sale in our area which is a drop of almost 25% from last month and almost 30% fewer new listings than last July. Of those single family homes added to the market for sale, 398 of them are new construction.

Closed sales for all property types took a sharp dive from 1,652 closings in June to 1,133 in July.  

We have less inventory to sell in July than we did in June but we have 30% more inventory than last July so overall, we’re headed in the right direction to have a balanced market. 

Average sales price went down for the second month in a row and the average price is almost $10,000 less in July than it was in May of this year.

Pendi...



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JUST LISTED and OPEN HOUSE! 1727 2nd St. in Loris

Fri, Aug 4th 2023 4:00 pm by Rosette Garcia Listings to Check Out

This home features two bedrooms and two bathrooms in the main home and also has an unfinished apartment or mother-in-law suite with another full bathroom! This home is a perfect blend of country charm while also being updated with granite countertops, crown molding and beautiful flooring throughout the home. Equipped with a 50 year metal roof that was installed in 2020 and a water heater that was replaced in 2021, this home has been lovingly improved with new windows and doors. Even the studs used to build the home are cedar providing a natural resistance to pests. The kitchen is a chefs dream outfitted with stainless steel appliances including two ovens and a large eat in dining area. Pl...



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JUST LISTED! 145 Dots Court, Conway, SC

Fri, Jul 21st 2023 5:37 pm by Rosette Garcia Listings to Check Out

Fantastic opportunity to own your own slice of heaven and it comes with so many extra features! This 4 bedroom, 2 bathroom manufactured home includes more than 2800 heated square feet and has a huge 12 x 20 covered back porch. The copper metal roof was installed in 2019 and the HVAC was replaced in September 2022. The back yard is fenced and the lot is just over 1 acre so there's plenty of space to park your RV, boats and all your toys (along with two 30 amp outlets in the rear of the home), and there is no HOA! With a circle driveway that goes around the entire property, parking will be easy! This home is a split floor plan with the primary bedroom being on the far right and the other th...



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