From the WBTW New 13 Website:

Here are tips for those who hope to buy a home…

As part of News13′s special report “Boom to Bust,” an in-depth look at the problems plaguing the real estate market, here are some tips for those of you who are trying to buy a home, from certified credit counselor Toby Smith:

1) Any time you are engaging in the process, whether its your first time or fiftieth time, make sure you check out your realtor. Make sure he or she actually is a realtor, and has a solid record of customer service to date.

2) Make sure you understand the buying and/or selling process from start to finish. If this is your first time, make sure you ask other people who have done it before.

3) Don’t buy a home based on emotion; don’t drive by a “for sale” sign and say, ‘I’m buying that home no matter what!” Always evaluate all of your finances and all of your obligations before thoughtfully and fully considering buying a home.

If you’re in a home, no matter how long you’ve been living there, here are some things Smith says you should remember to avoid any problems.

1) Try not to make any major purchases right after you move into your new home. Make sure you have your finances set, and your monthly budget in working order, before you go make a major purchases.

2) At the first sign of any trouble with your monthly mortgage payment, make a call to the lender. Don’t hide from the lender. If they call you or send you mailings, don’t ignore them. Smith says 50% of the people who lose their home do so because they fail to keep that line of communication open with the lender.

Here are the dates for the Credit Counseling Clnics:

Wednesday, November 28, 6:00-8:30 p.m.
204 Legacy Way Apartments (Community Building), Conway

Saturday, December 1, 10 a.m.-12 p.m.
Waccamaw Regional Council, 1230 Highmarket Street, Georgetown

Wednesday, December 5, 6:00-8:30 p.m.
United Way of Horry County, 761 Century Circle, Conway

Saturday, December 8, 10:00 a.m.-12:00 p.m. and 1:00-3:00 p.m.
United Way of Horry County, 761 Century Circle, Conway

If you are interested in more tips or have questions about buying or selling Myrtle Beach Real Estate, please contact us!

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After deciding the general area that you want to buy, he suggests listing 10 developments that offer the amenities and lifestyle that you feel are important.

Avoid getting caught up in bidding situations that create a “buyers frenzy” or being misled and rushed by the marketing brochures and “buy now or never” schemes.

Finally, go to the tax assessor’s office and find out exactly what the most recent homes SOLD FOR…not the listing price. Davis says to use the exact term and ask for the “velocity of deed transfers” for the particular development. If there are fewer deed transfers, then sales are slower there. Look for the best deal, and plan to keep the property for a realistic period of time.

“For a buyer who has cash either to buy a home outright or put enough down to qualify for a loan below the $417,000 limit for conforming mortgages and an attractive interest rate, a down market like this one is a ripe time to buy undervalued properties.”

“People have been saying, ‘I’ll buy it, and even if I don’t like it, I’ll sell it and make money,’ ” says Davis, whose show will next track Trademark’s maneuvers in Charleston’s softening real-estate market.

“That party’s over,” Davis says. “Credit is too tight. I can remember the last time this happened. I was over at Kiawah Island buying foreclosures seven or eight years ago. It wasn’t any indication of the quality of the properties there. It was a reflection of the money situation. That’s where we’re at right now. There are some
tremendous bargains out there. Ten years from now, you’re going to look back and say you can’t believe how you got your place for 50 cents on the dollar.”

Our Myrtle Beach condo experts can advise and assist in choosing a golf course home, oceanfront property, or any of the hundreds of Myrtle Beach resorts, condominiums, and townhomes. If you are interested in any kind of Myrtle Beach real estate, we are here for you.