Myrtle Beach Real Estate News

New Law Makes Myrtle Beach Real Estate More Affordable

Richard M. Sander — Tue, 16 Aug 2011 02:44:53 +0000

The 2006 point-of-sale reassessment law that produced so many unintended consequences after the real estate crash has been amended today by Governor Nikki Haley. Real estate in Myrtle Beach is reassessed for tax purposes every five years. But the 2006 law added an additional reassessment whenever a property is sold. At the time, when the [...]

Why Real Estate Brokers Won’t Disappear

Richard M. Sander — Fri, 05 Aug 2011 22:09:41 +0000

I know… I know… I’ve heard them all too… real estate brokers are dinosaurs… The internet will kill the traditional real estate model… people want to do it themselves… blah blah blah. Here’s the real truth. 92% of all real estate buyers (and I believe that it is higher for Myrtle Beach real estate) begin their [...]

Is California Leading The Way in Foreclosure Prevention?

Richard M. Sander — Wed, 03 Aug 2011 18:33:24 +0000

California has a long history of successful innovation. California tries new ideas and methods, finds them successful, weathers the scorn of the rest of the United States, and then very slowly the ideas catch on and rest of the nation follows. Now it looks like California is out in front again with a foreclosure prevention [...]

Bank of America Forecloses On Itself!

Richard M. Sander — Mon, 06 Jun 2011 19:11:54 +0000

Bank of America filed a foreclosure suit last month against the owner of an office building in Florida. The anchor tenant of the building? A Bank of America branch. Maybe they could do that here in Myrtle Beach, too. They certainly own enough real estate! I wonder if Bank of America will offer itself a Cash-For-Keys [...]

Loan Modification Investigation Reveals Lies & Fraud

Richard M. Sander — Tue, 12 Apr 2011 15:18:03 +0000

The National Fair Housing Alliance released a scathing report on their year-long investigation of dozens of loan-modification companies. The Alliance’s undercover work revealed that many of these loan-modification companies are actually scammers demanding up front payments and then conducting minimal, if any, work on behalf of the homeowner. The report says 55% of the companies scrutinized [...]

(Considering) Buying a BofA Short Sale? Watch This NOW!

Richard M. Sander — Sun, 20 Mar 2011 13:52:20 +0000

“Short sales” (a real estate transaction in which a property sells for less than the seller owes the lender) continue to gain market share month after month here in Myrtle Beach. If you are a buyer in today’s market, it is inevitable that you will come across a desirable property that is a short [...]

Is Mortgage Credit Beginning to Ease?

Richard M. Sander — Sun, 27 Feb 2011 15:21:24 +0000

Over the last two years, we’ve watched in disgust as banks tightened their lending standards over and over again, until some banks wouldn’t write a mortgage for anyone with a credit score under 680. In a reversal of previous policy, Wells Fargo has announced that they will begin underwriting FHA mortgages for buyers with credit [...]

Angry Homeowner Forecloses On Bank

Richard M. Sander — Fri, 18 Feb 2011 04:59:31 +0000

Patrick Rodgers wrote a letter to Wells Fargo Home Mortgage in 2009, in response to notification from the bank that he increase his homeowners insurance coverage – by five times. Rodgers’ purchased the home in 2002 for $180,000 and in 2009 Wells insisted that he maintain insurance coverage of $1 million. When Wells Fargo didn’t [...]

Why The Home Mortgage Interest Deduction Matters

Richard M. Sander — Tue, 01 Feb 2011 18:20:22 +0000

Mortgage Interest Deduction Vital to Housing Market The home mortgage interest deduction saves the average home owner thousands of dollars at tax time, supports home values at the community level, and helps American home buyers get into their first house. Read Visit houselogic.com for more articles like this. Copyright 2011 NATIONAL ASSOCIATION OF [...]

Your Property Tax Bill Could Be Going Down

Richard M. Sander — Sat, 11 Dec 2010 13:52:35 +0000

A bill now pending in the South Carolina legislature proposes a tax break for Myrtle Beach real estate owners whose primary residence is elsewhere. The bill says if you own a second home in Myrtle Beach (or anywhere in South Carolina) that is not being used as rental property, your property tax rate could go [...]