Coastal Carolina News & Views Real Estate, Foreclosures, Fishing. 7/2013

                                                                                 HAPPY JULY 4TH 2013!  

Wish you were here!!!Wow, June seemed to last about a week. Weddings, graduations, vacations, rain, and work. Well no vacation for me but it seems everyone has come to the beach to enjoy our rain. We have had a lot of rain recently. My older daughter lives here and the younger one with a June birthday lives in Ohio. SSOOOoo older daughter provides her sister with round trip air fare as a birthday present and surprise Father’s Day gift. One happy dad here! Twin grandsons arrived in June for a few weeks at the beach. One happy grandfather. They will soon be 11 and will miss them when they go back to Ohio. We have had more company and more coming this month. Work has been a bit busy too. Life is great at the beach!

Interest Rates are always on the mind of buyers and sellers. Sadly, they have inched up slightly but are still in very low territory. Mortgage rates have been going up very slowly over the past 6 weeks. Let’s hope they retreat a little soon.  The 1st indication they may continue to increase is the benchmark 10 year US Treasury Bonds. During the month ending June 27 the rate was up nearly 1/2 point. No one expects rates to stay at this level forever. The impact is higher mortgage payments (possibly finding a lower loan qualify amount) for buyers and fewer buyers for sellers. Let’s hope the economy grows faster than actions of Mr Bernanke and the FED.

Looking for a great condo buy? I recently listed a 2 bedroom / 2 bath 2nd floor condo that was never rented. The owner has a growing family and needed more space and bedrooms. He recently completed a fantastic remodel and has put the condo up for sale at a fantastic price. It is located in Little River SC, just a couple minutes from North Myrtle Beach. It is only a few minutes longer to Calabash NC too. Check it out here:

Foreclosures everyone still wants to see so here they are. NC first this time. Since May 1 only 10 homes have gone into foreclosure in the most popular areas of SE Brunswick County. They can be found here:     Now in Horry County SC the most popular areas near Myrtle Beach has seen only 23 DETACHED homes come on the market as foreclosure or bank owned over the same time period. Those listings can be found at:  . Only 22 condos and townhouses have come on the market as foreclosures since May 1st also. Those listings can be found at: . Remember these are just the most recent foreclosed listings. There are more in other areas of both counties that have been on the market longer. I’m always happy to search upon request for older listings and expanded areas.

Dolphins were playing with us one day while we took a boat ride to Holden Beach. Hopefully, this will work:

McMansions?? Most have heard the word describing large homes. From about 2009 until late 2011 or early 2012 smaller, less expensive homes was the rule. During the recession the average size of a new home shrunk by 6% over 2 years. Many called the trend as the new wishes of buyers forever. A new era for baby boomer with an empty nest has arrived they said. In 2012 the median new home has hit an all time high of 2306 square feet, up 8% from 2009. I had received a call from a buyer stating they wanted to downsize and sent them several listings. Downsizing to them meant they still wanted a home over 2500 square feet. It seems people just want more space. Recession– well during the recession the sale of large SUVs dropped and sales have not seen a great increase. Locally, sales of homes under $200,000 have picked up. Prices of existing homes are stabile while builders are increasing prices. I have seen builders raising prices by $5000 or more and in one case a model I’ve sold 2 of had a base price of $199,900 has risen twice by $10,000 each time- new base is $219,900! When you hear prices are rising locally it is mostly new construction. There is still a huge supply of building lots with little building going on other than developers.

Where NOT to boat —   boats do not run well in mud.

Fishing not much I can say 1st hand. Between work and rain I have trouble finding an hour to empty crab pots every 4 or 5 days. The reports I’m hearing and reading all indicate Neptune has turned up the fan and the waves are keeping everyone inshore or at the dock. Even the big boats that do get out at times say it has been rocky. The rain has darkened the nearshore waters and scattered the Spanish mackerel and bluefish. The cobia bite was great but no one knows now. Offshore mahi and wahoo have slowed but are still biting. Grouper are on everyones list out there now. Those fishing inshore between the rains are finding days hit or miss. The miss days are often zero. The hit days are finding a few flounder (about 50% legal) along with red and black drum feeding. The trout have moved outside the inlets but a few stragglers are still being found. If you can find the shrimp with a cast net they are the best bait going now– or OIFC has them at $7 per dozen (that should get you practicing with a cast net). All muddy water I’ll not miss trying to fish over the holiday week– better working. Besides – I’d not got out except to empty crab pots as required on any holiday. The water is just too busy. Sadly, many will be inexperienced, some will be drinking, and a few just stupidly inconsiderate.

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