Juliann Bushaw RE/MAX Town & Country

532 Bridgeport Dr. in Bridgeport is Sold!

Bridgeport, Myrtle Beach  -  The single story at 532 Bridgeport Dr. has been sold.  After having the property listed since April of 2008 Juliann Bushaw sold the home herself for $187,500.

Property information

Price Reduced on 55 Hamby Drive in Allston Point

Allston Point, Pawleys Island  -  Announcing a price reduction on 55 Hamby Drive, a 2,484 sq. ft., 2 bath, 3 bdrm single story "Traditional". Now MLS® $399,900 - .

Property information

Price Reduced on 421 Greenwich in The Village

The Village, Conway  -  Announcing a price reduction on 421 Greenwich, a 1,857 sq. ft., 2 bath, 3 bdrm 1 1/2 story. Now MLS® $239,000 - .

Property information

Easy Ways To Green Your Home

Summer is a great time work on projects around the home that reduce your environmental impact, as well as the impact on your bank account. Even if you are not making big changes, such as replacing old leaky windows or installing ceiling fans, there are still small things that can be done around the house to minimize energy consumption, reduce your carbon footprint and save money in the long run. Read on to learn more about how to make simple, sustainable adjustments to your home.

• Plug household appliances such as computers, printers, televisions and microwaves into a power strip that can be turned off at night. Even when these items are not in use their "standby" consumption can be equivalent to that of a 75 or 100 watt light bulb running continuously.
  
  
• Use the dishwasher. Newer dishwashers typically use only 4 or 5 gallons of water, while washing a sink full of dishes by hand can require up to 15 gallons of water. Not only will you avoid wasting water, you'll also save the energy your water heater would have used on those additional gallons.
  
  
• Adjust your thermostat. A difference of just two degrees you could reduce your household's carbon dioxide emission by 2,000 pounds, in addition to providing significant savings on your utilities bill. In the summer, keep your thermostat at 76 ° F or higher. 
  
  
• Keeping household appliances clean and up to date can significantly curb your household's energy consumption. Schedule your heating and cooling system for a checkup at least every 2 years. Check for any air leaks at ductwork to avoid wasted energy into the attic or crawlspace. Be sure to clean the filter or coils monthly on your air conditioner/ heat pump and refrigerator to ensure they are working efficiently.
  
  
• Prevent energy leaks. Insulating your water heater and weather-stripping or caulking around windows and doors in your house could save up to 420 lbs of carbon dioxide emissions a month.
  
  
• Switch to Compact Fluorescent Light (CFL) bulbs. CFLs use significantly less energy and can last up to ten times longer then standard incandescent bulbs. Replace five of the most-used lights in the house with CFLs and enjoy reductions in heat production, energy use, and electricity bills!

Courtesy of Pillars to Post

www.PillartoPost.com

Freddie Mac helps BGS3 REALTORS

This is the single biggest news story for anyone involved in Real Estate. Whether you are a real estate agent, investor, seller, or buyer with an interest in the current housing market, hear is the news you’ve been waiting for. The ripple effect from the new housing bill that President Bush just signed into law is now underway. One of the provisions in the new legislation gives an unlimited line of credit to Freddie Mac and Fannie Mae to prop them up to stabilize the economy. Freddie Mac has now allocated an unprecedented amount of money to pay banks for each successful Short Sale! Let me explain…

Banks are not really the “lenders”. They are what we in the industry refer to as the “servicer” or the “loan servicer” . Bank of America, Countrywide, Wells Fargo, HSBC, etc. – these institutions merely “service” the mortgages for other investors by collecting payments, sending notices, processing foreclosures, and working out forbearance plans, loan modifications, and Short Sales. Up until recently the Banks hands have been tied. The actual lender of the real money is the investor. So they are the ones that really make the decisions. You’ve heard a lot of talk about them in the news recently. I’m talking about the nations largest investors Freddie Mac and Fannie Mae. These companies are referred to as GSE’s (Government Sponsered Enterprises).

Just a little bit of background on GSE’s…The government sponsored enterprises (GSEs) are a group of financial services corporations created by the United States Congress. Their function is to enhance the flow of credit to targeted sectors of the economy and to make those segments of the capital market more efficient and transparent. The desired effect of the GSEs is to enhance the availability and reduce the cost of credit to the 3 primary borrowing sectors: agriculture, home finance and education. Well, the residential mortgage segment is by far the largest of the borrowing segments in which the GSEs operate. Together, the three mortgage finance GSEs (Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks) have several trillion dollars of on-balance sheet assets.

Freddie Mac has told the banks that they will now pay them $2,200 for each short sale it successfully negotiates.

But the great news is that the banks we work with – the Servicers - will have more incentive to work a Short Sale and there will now be more resources available to staff loss mitigation departments appropriately because the value to the Bank of doing a Short Sale just increased dramatically.

It is absolutely beautiful news that proves that the workout solution of a Short Sale is not only seen as valued, but the preferential method of a pre-foreclosure solution. These changes will undoubtedly translate to shorter processing times and better transactions for all parties involved. We have seen the writing on the wall for months, because it has always made monetary sense for the investor, but it is nice to see some action finally giving BGS3 big momentum as we continue on our trek to becoming the most relied upon foreclosure solution in America.

Despite the headaches we have all had to deal with since the banks were not set up to handle this housing landslide, the money has been appropriated to get some real estate moving. This is truly the best news real estate has received in more than 2 years!

 

courtesy of www.BGS3.com

Price Reduced on 421 Greenwich in The Village

The Village, Conway  -  Announcing a price reduction on 421 Greenwich, a 1,857 sq. ft., 2 bath, 3 bdrm 1 1/2 story. Now MLS® $259,000 - .

Property information

Price Reduced on 239 Simplicity Dr. in Prince Creek

Prince Creek, Murrells Inlet  -  Announcing a price reduction on 239 Simplicity Dr., a 2,450 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $275,000 - "Short Sale".

Property information

Price Reduced on 629 3rd. Ave. South in Ocean Terrace

Ocean Terrace, Surfside Beach  -  Announcing a price reduction on 629 3rd. Ave. South, a 1,750 sq. ft., 2 bath, 3 bdrm 1 1/2 story. Now MLS® $199,000 - This is a STEAL!!!.

Property information

News from the National Association of REALTORS

Still A Buyer's Market

by Lawrence Yun, NAR Chief Economist

Modest near-term movement is expected in existing-home sales, with a recovery in sales seen during the second half of the year. The Pending Home Sales Index, NAR’s forward-looking indicator based on contracts signed in May, fell 4.7 percent to 84.7 from an upwardly revised reading of 88.9 in April, and remains 14.0 percent below May 2007 when it stood at 98.5. Some pullback after a sharp increase in the previous month was expected. The overall decline in contract signings suggests we are not out of the woods by any means. The housing stimulus bill that is still being considered in the Congress is critical to assure a healthy recovery in the housing market, jobs and the economy.

But location has never mattered more than in the current market. Look at the pending home sales index for the West. While it’s true the index slipped 1.3 percent to 97.5 in May in that region, it was 2.0 percent higher than it was in May of 2007. Indeed, some markets have seen a doubling in home sales from a year ago, while others are seeing contract signings cut in half. For instance, double-digit pending sales gains in May from a year ago were noted in Colorado Springs CO, Sacramento CA and Spartanburg SC. In addition, price conditions vary tremendously, even within a locality, depending upon a neighborhood’s exposure to subprime loans.

Current real estate market conditions are positive for most buyers: still-attractive interest rates, a large inventory of homes available for sale, and many sellers willing to negotiate their prices – sometimes significantly. And in spite of the headlines surrounding issues with Fannie Mae and Freddie Mac – as well as the recent federal “takeover” of IndyMac – there is still mortgage capital out there. Credit may be tightened, but lenders are still happy to originate a mortgage loan to households who qualify. And remember: owning a home still provides long-term value – and most buyers today plan to remain in their homes for five or more years. Home buyers can get a great deal right now.

Concerns Remain

Yes, there are some concerns on the horizon. Although inflationary expectations appear to be under control for the time being, sharper consumer price gains could lead to notably higher mortgage interest rates in 2009. Based on current indicators, the 30-year fixed-rate mortgage is forecast to rise gradually to 6.5 percent by the end of this year, and then hold at that level for most of 2009. But note – that is still well below the “threshold” level of 7 percent. In spite of a month to month decrease from April to May, housing affordability – as measured by NAR’s housing affordability index -- is improving this year and is likely to rise 15 percentage points to 127.0 for all of 2008.

Existing-home sales are expected to grow from an annual pace of 5.01 million in the second quarter to 5.75 million in the fourth quarter. For all of 2008, existing-home sales should total 5.31 million, and then increase 5.0 percent next year to 5.58 million. That is less than 100,000 unit sales off the annual pace last year.

The speed at which home prices have declined in a few select markets is unprecedented, but the large price declines in those areas have enticed bargain hunters back into the market. Interestingly, there have been reports of multiple bidding after the large price cuts, so it is possible that most of the price declines have already occurred in those markets. The aggregate median existing-home price (on a national basis) is projected to fall 6.2 percent this year to $205,300, and then rise by 4.3 percent in 2009 to $214,100.

New-home sales are a different story. They are likely to fall 32.3 percent to 525,000 in 2008 and decline another 3.4 percent next year to 507,000. In light of high inventory conditions, rising commodity prices and construction costs will curtail new home construction deep into next year. Housing starts, including multifamily units, will probably fall 28.7 percent to 966,000 this year, and then drop another 9.0 percent in 2009 to 879,000. The precipitous drop in starts is due in part to some overbuilding during the “boom” years, as well as the rising costs of construction. The median new-home price is expected to decline 3.2 percent to $239,300 this year, and then rise 5.3 percent in 2009 to $251,900.

Officially, the U.S. economy has still not drifted into recession. In fact, GDP growth in the first quarter of this year was revised upward from preliminary estimates – albeit at a slow 1.0 percent rate. Growth in GDP is forecast at 1.6 percent for all of 2008 and 1.4 percent next year – not spectacular, but still positive. Inflation, as measured by the Consumer Price Index, is forecast at 3.7 percent this year and 2.4 percent in 2009. Unfortunately, personal income gains are unlikely to keep pace with rising prices. Inflation-adjusted disposable personal income is projected to grow 1.5 percent in both 2008 and 2009.

Conclusion

So, what does all this mean for housing consumers? It will continue to be a buyer’s market for a while. Obviously, we will need to watch developments with credit markets and the GSEs, but if a potential buyer can qualify for a mortgage, there is plenty of choice out there.

Price Reduced on 239 Simplicity Dr. in Prince Creek

Prince Creek, Murrells Inlet  -  Announcing a price reduction on 239 Simplicity Dr., a 2,450 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $275,000 - "Short Sale".

Property information

Price Reduced on 295 Wateree River Road in The Lakes

The Lakes, Surfside Beach  -  Announcing a price reduction on 295 Wateree River Road, a 2,050 sq. ft., 3 bath, 4 bdrm single story. Now MLS® $260,000 - .

Property information

Price Reduced on B-2270 Andover DR. in Southbridge

Southbridge, Surfside Beach  -  Announcing a price reduction on B-2270 Andover DR., a 1,025 sq. ft., 2 bath, 2 bdrm single story. Now MLS® $99,900 - First Floor Unit.

Property information

1 1/2 Story For Sale in The Village

• 1,857 sq. ft., 2 bath, 3 bdrm 1 1/2 story - MLS® $270,000

The Village, Conway  -  This 1857 htd. sq. ft. home is in excellent condition and features three large bedrooms and two and a half baths. The master bedroom is on the first floor and boasts tray ceilings with recessed lighting and a huge master bath w/stand up shower, whirlpool tub, tile floors, and double vanity sink. Storage will not be lacking with ample closets throughout and an enormous master bedroom closet. Wood laminate flooring in dining and kitchen as well as corian countertops, 42 inch white cabinets, recessed lighting, and a large kitchen pantry. Other features include crown molding, upgraded fixtures, irrigation system, 2 car garage, full attic, and an amazing front porch. The Village in Conway is a very quaint, quiet place that anyone would love to call home.

Property information

Price Reduced on 532 Bridgeport Dr. in Bridgeport

Bridgeport, Myrtle Beach  -  Announcing a price reduction on 532 Bridgeport Dr., a 1,450 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $214,900 - .

Property information

Guide to Home Buying Step-by-Step