Myrtle Beach Real Estate by Mirela

I NEED YOUR INPUT, PRETTY PLEASE !!!  SHOULD I "REALTOR.COM" IT?

I am considering sinking another $ 1,000+ into front page placement on Realtor.com.  I currently own two featured listings for this area and they are getting plenty of hits and a decent amount of leads. 

How many of you are using the Realtor.com Featured Listings vehicle, and have you found another advertising venue that garners you better results for about the same cost? 

Where should I put my money?   The Real Estate Book, Homes & Land, the Local Newspaper, The Wall Street Journal, Google optimization, web enhancement, web design, direct mail, signage.  So many choices, such limited funds.  I need the most bang for my buck!!!

Please share your best Advertising Venues with me!  I am in desperate need of counsel!

I would love to have your input on this, as I overspend my advertising budget yet again; I do it every year; I can't afford not to...

Your Myrtle Beach Real Estate Connection, Mirela Monte

Join The Optimist Group!

A little known tool called a "rescission" can be a consumer's best friend when trying to renegotiate with a lender.   A Truth In Lending Act loophole is starting to gather momentum, helping borrowers wiggle out of tough situations. 

If your loan is a refinance loan on a primary residence made within the past three years you may want to pay close attention here. 

If your lender did not dot his "I's" and crossed his "T's", you may be able to find a snafu and upend your loan.  It can be as small of a mistake as a $ 35 dollar difference between the preliminary and final loan documents, or a fraction of a point difference in the APR, or even something like the lender not giving you two copies of a document informing you of your right to cancel the loan for up to three days.

I'm providing the link to the Wall Street Journal article that describes this loophole in detail.  Here it is: 

http://online.wsj.com/article/SB119827613663245847.html?mod=todays_us_money_and_investing

Good luck!

Your Myrtle Beach Real Estate Connection, Mirela Monte

http://www.myrtlebeachhomes.us/

In 2005 Real Estate Agents in Myrtle Beach were swamped.  If you had a license you'd make money just by showing up.  The market was ripe with Buyers eager to spend their 'dough' on "investment properties", because they had read or heard of others making a fortune by "flipping" properties in this area. 

Everyone had a brother, aunt or uncle who made a fortune in this market.  What those Buyers failed to recognize, is that the success stories they had heard about transpired months before. 

The market can turn on a dime.  Within a few short weeks you can have meteoric rises, a la 2004 and 2005, or amazing plummets, a la 2007...   Just because your brother, aunt or uncle made a buck, doesn't mean that you will also...

Buying when everyone else is buying is simply not good practice.   All my savvy investors are buying now, when the media is feeding us all the bad news fodder.  Sellers are desperate, deals are a plenty, and the smart investors are gobbling up as much property as they can. 

YES, I did buy this year and I will most certainly buy in 2008, and so will my clients!  Care to join me?

Your Myrtle Beach Real Estate Connection, Mirela Monte

http://www.myrtlebeachhomes.us/

Myrtle Beach Real Estate Sales for the 4-th Quarter of 2007

October 1, 2007 through December 28, 2007 Activity

Single Family Homes: 

Active Listings:                       6,150

Sold:                                        774

12.63% of our home inventory sold during the last quarter of 2007.  That's 4.21% per month. 

At this rate, it will take about 2 years, to deplete our current home inventory.

Condos:

Active Listings:                       8,259

Sold:                                        775

9.38% of our condo inventory was sold during the fourth quarter of 2007.  That's 3.13% per month. 

At this rate, it will take 2 years and 8 months to deplete our current condo inventory.

Land:

Active Listings:                       5,630

Sold:                                        190

3.37% of our land inventory was sold during this last quarter.  That's only 1.12% per month.

At this rate, it will take 7.5 years to sell out of current inventory.

Multi Family:

(duplexes, triplexes, quads, apartments)

Active Listings:                       147

Sold:                                        11

7.48% of our multi family inventory was sold during this quarter.  That's 2.49% per month.

At this rate, it will take 3 years and 4 months to deplete the current inventory.

Commercial/Industrial:

Active Listings:                       662

Sold:                                        19

2.87% of our commercial/industrial properties were sold during this quarter.  That's .96% per month.

At this rate, it will take 8 years and 8 months to sell out of current inventory.

Market Over-All:

Total Active Listings (Available Properties for Sale)

In our MLS system:                                                       20,848

Sold Properties during the 4-th Quarter, 2007:             1,769

8.49% of all available properties within our local MLS, servicing the entire Grand Strand Area, were sold during this last quarter.  That's 2.83% per month.

At this rate, it will take almost 3 years to sell out of our current inventory.

In other words:  Buy!  Buy!  Buy!   Now is the time to garner a good deal in one of the hottest real estate markets in the world.  God does not create any more Beach...  

Your Myrtle Beach Real Estate Connection, Mirela Monte

www.MyrtleBeachHomes.US

A big "THANK YOU !" to all the contributors to the blog I posted earlier today on Real Estate designations   http://activerain.com/blogsview/319562/Do-You-BS-or     Your input is extraordinary and it will help guide many readers towards finalizing decisions regarding upcoming education. 

The dedication to professionalism prevalent here on Active Rain is unparalleled!  I've been a member since 9/28/07.  I am now the 6-th most popular blogger in South Carolina, with 77 posts under my belt.  This blog will officially propel me to the number one spot for North Myrtle Beach, right next to Chris Webster, my associate and good friend, who introduced me to AR. 

The spirit of sharing of our AR members is unique and extraordinary.  I am amazed at the opportunities conferred by membership in this unique organization of visionaries and leaders.  Although I have made a valiant effort to acquire as much education as possible since my 1988 induction into Real Estate, I have learnt more here than in any of my classes. 

My Google & Yahoo placements have improved dramatically since joining AR and Localism.  My website is 100% better, more potent and garnering momentum every day.  Reading the AR blogs has been instrumental in this ascent.  Posting my blogs has also contributed greatly to it.   I garnered 12 new clients as a direct result of AR, all of them savvy investors (my favorite kind).  Active Rain has been the best gift of 2007, a gift that will keep giving throughout the many years to come.  I will stay here and contribute, share and learn for the rest of my days.  Thank you AR! 

Since this blog was meant to augment the original blog on Real Estate Designations, by including designations not mentioned in the previous post, here is the official NAR list of designations, complete with all the pertinent links:   http://www.realtor.org/runivers.nsf/pages/designation

Here is to a prosperous and satisfying New Year!   Here is to AR! 

Mirela Monte

http://www.myrtlebeachhomes.us/

I garnered my GRI in my first year of Real Estate.  I wanted to know as much as possible, as quickly as possible.  I was in class for three weeks (it's shorter now), took a few tests, and voila:  I garnered those three magic letters after my name, which served me quite well for the rest of my career. 

This year I attained my ABR designation and I am taking classes for my ALC (Accredited Land Consultant) designation, which I will finish next year.  The coveted CRS designation is also on the horizon for 2008. 

Why not?  Statistically speaking, every designation you garner nets you quite a generous "salary increase".   Knowledge is power, and in this, or any market, that is the most important component.  Knowing how to successfully navigate the seas of a volatile Real Estate market is quite an asset, don't you agree?

I've compiled a list of worthy designations you actually have to work for in order to obtain.  The easiest one, the ABR is a good one to start with, GRI is a great one to graduate from, and the CRS seems to be the Mac Daddy of Residential Real Estate.   If you work with land, you owe it to yourself and your clients to garner the ALC designation. 

If you are thinking of selling commercial real estate, the coveted CCIM label is the ultimate designation for the inveterate professional.  There are only a handful of those agents in any given market.  The last time I priced it - in 1988 !!! - it was about $ 20,000 and it entailed traveling to several places around the country and staying for training a week at a time.  The exams are real tough, I hear (thus the small number of CCIM's).

Let me know which ones you are working on and why. 

CRS           There are over one million REALTORS® in business today. So if you want to find that one-in-a-million REALTOR®, start with the over 37,000 who hold the Certified Residential Specialist Designation. CRS is the symbol of excellence in residential real estate. Our members have proven they have the experience, training and commitment to be among the best in their profession. Find out how you can become a CRS                     http://www.crs.com/

CCIM                   A Certified Commercial Investment Member (CCIM) is a recognized expert in the disciplines of commercial and investment real estate. A CCIM is an invaluable resource to the commercial real estate owner, investor, and user, and is among an elite corps of more than 9,000 professionals who hold the CCIM designation across North America and more than 30 countries. Nearly 10,000 additional professionals are pursuing the CCIM designation.       http://www.ccim.com/about/ccim.html

ABR           The Accredited Buyer Representative (ABR®) designation is the benchmark of excellence in buyer representation. This coveted designation is awarded to real estate practitioners by the Real Estate Buyer's Agent Council ("REBAC") of the National Association of REALTORS® who meet the specified educational and practical experience criteria.     http://www.realtor.org/realtororg.nsf/pages/abrdesignation

ALC           Accredited Land Consultants are the recognized Land REALTOR® experts.  The designation is awarded by the Board of Directors to members who have completed a comprehensive program of education and service to the Realtors Land Institute. http://www.rliland.com/AboutTheAlcDesignation.html

GRI        The Graduate REALTOR® Institute (GRI) symbol is the mark of a real estate professional who has made a commitment to providing a superior level of professional services by earning the GRI designation. REALTORS® with the GRI designation are highly trained in many areas of real estate to better serve and protect their clients. Learn about other benefits of earning the GRI designation.   http://www.realtor.org/griclear.nsf/pages/futdesigmain?opendocument

Mirela Monte, GRI, ABR, BIC

WWW.MyrtleBeachHomes.US

Princeton Place Subdivision, Little River, SC

Home Sales for 2007

Princeton Place, a cute, little subdivision of about 100 homes, located on the North end area of the Grand Strand, has always been a favorite of mine because of it's proximity to the beach (only a 3-4 minute drive) and it's unique flavor.  With rolling hills and curving streets, plenty of trees and colorful patio homes, Princeton Place is a perfect enclave for the second home buyer, the retired couple, or the one parent family.  The homes are 16-20 years old, "patio style" (stick built on monolithic slab), mostly two bedroom, two baths, with small yards.  Some of the lots back up to the Preserve, some adjoin the lovely lake adorned with a fountain, and some back up to the little creek, which is navigable and spills into the Waterway.  It is a charming neighborhood, bubbling with kids and activity (two of the three schools are within walking distance, and all three are only a 2-5 minute drive). 

In February 2004, I broke the $ 100,000 barrier for Princeton Place, by representing the seller in the transaction of a 3BR/2BA home, for, at the time "unheard of" price of $ 102,000.  Since then, prices and sales activity have varied greatly, mirroring the ebbs and flows of the Myrtle Beach market.  Studying the prices and activity of Princeton Place is a good vignette of the single family home market here at the beach.

2004 Sales Activity at Princeton Place:

Total Sales:                              12

Lowest Price:                          $ 84,000                      2BR/1BA Home

Highest Price:                          $ 114,400                    3BR/2BA Home

2005 Sales Activity at Princeton Place:

Total Sales:                              7

Lowest Price :                         $ 94,500                      3BR/2BA Home

Highest Price:                          $ 129,000                    2BR/1BA Home

2006 Sales Activity at Princeton Place:

Total Sales:                              11

Lowest Price:                          $ 125,000                    2BR/2BA Home

Highest Price:                          $ 177,500                    3BR/2BA Home

2007 Sales Activity at Princeton Place:

As of December 28, 2007, when this report was compiled, here is the activity of Princeton Place for the entire year of 2007:

We currently have two active listings, one priced at $ 149,000, for a 2BR/2BA home, which has been on the market since the beginning of July, when it was listed for $ 900 more.  Since then it has had two price reductions: one for $ 400 and another price reduction of $ 500.  The other home for sale is a 3BR/2BA home priced at 164,900, initially offered at the end of August for $ 174,900, now reduced by $ 10,000 and still on the market. 

In 2007, the listing prices at Princeton Place have ranged between $ 148,000  to $ 179,900.  Four listings were withdrawn, and five listings expired. 

In 2007, only one home was sold at Princeton Place.  It was a top of the line, completely updated home, beautifully decorated, 2BR/2BA home, complete with a sunroom, large back deck and fenced in yard.  It was offered at the lowest price of $ 148,000 and had a contract pending on it in less than a month, closing within less than two months for $ 143,000.

Anyone interested in "speculating" in the Myrtle Beach area, should seriously consider Princeton Place as a good choice for investment property.  With it's proximity to the Beach and all the schools, a good demographic mix of inhabitants, Princeton Place should do well long term, and you could probably solidify a good buy.  Follow this subdivision, as the homes become available for sale and make an offer. 

With low HOA dues (only $ 23 per month), a community pool and cabana, located only yards away from the city of North Myrtle Beach, but without the extra taxes of North Myrtle Beach, Princeton Place is perfect for the "cost conscious" consumer.  Some of the homes rent for $ 795 - $ 1,200 per month.

For more on my theory of "Paralysis in Real Estate, the Calm Before the Price Plummet", please read my blog at:  http://activerain.com/blogsview/223105/Listing-Agents-in-La

www.MyrtleBeachHomes.us

Brie, my office manager, brought me a beautifully wrapped Christmas present.  I asked her if I could open it on Christmas Day.  She had put so much care into wrapping it, that I wanted to look at it some more before tearing into it.  She sweetly said: "I'd rather you open it now."  Reluctantly I did.  Inside I found something that brought tears to my eyes:  it was a lovely, silver card holder with this inscription on it:  "You're An Inspiration". 

Brie's gift touched my heart.   She is a person I greatly admire and it means a lot to me.  I can not think of another present I could have enjoyed more. 

Giving someone that "Magic Gift" speaks to the heart.  It lets the person know that you "get them".  You understand who they are; you understand what makes them tick.  The thought that goes into garnering that perfect gift is a lot more important than the amount of money spent on it.  I would much rather receive a well thought out present, one that lets me know that the person put a lot of thought into it, than getting a gift card, or cash, regardless of the amount...  Isn't that the reason behind gift giving?  Showing the other person that you cherish them?

What are some of your "Magic Gifts", things received that really spoke to your heart?  Things remembered and treasured forever?  I'd love to hear from you on this!  It might give others some extraordinary last minute ideas...

www.MyrtleBeachHomes.US

I had this nightmare:  My boyfriend bought me this 8 carat diamond.  I freaked out. 

"How did you pay for this?" I asked. 

"Don't worry about it; it's only $ 499.99 a month", he calmly responded.

"How long did you finance it for?"

"70 Years!" he said.

OK.  Maybe not 70 years, but what's with these 50 years loans? 

Can someone please explain to me, why the boys in the suits and fancy offices keep devising new plans to keep the general populace in debt, instead of creating new ways to get them out of debt? 

Can anyone explain the value of the 70 year loan? 

Just don't tell me that it's interest only with negative amortization...

www.MyrtleBeachHomes.us

January, 2007:  I brought a seller an offer of $ 175,000 on his condo.  In spite of my best efforts, he turned down the offer.   The condo is now marked down to $ 139,900, and it is still lingering on the market with no offers, in spite of my best marketing efforts.  He missed the boat...

September, 2007:  Past clients of mine who had their condo listed with a family friend for $ 279,900 for six months, came back to me and asked what I could sell it for.  I told them I could get them $ 210,000.  They said they needed a drink, but signed the listing anyway.  I got the job done within a few weeks.  Their neighbors, who had an identical unit on the market for $ 259,900 at the time, have now reduced to $ 189,900 and they still can't sell it. 

There is a lesson to be learnt here:  Discount now and sell, or sell later for a lot less...  I am now on a major price reduction campaign that goes like this:  take the lowest priced unit in that development and price your listing 3-5% lower and advertise, advertise, advertise! 

Whenever I present a low offer, I caution my sellers to give it a great deal of consideration.  Don't look at it as an insulting offer!  The fact that we even have an offer is actually a big compliment!  This may be the best offer we'll get in years!  I ask my sellers: "If you don't accept this offer today, how long can you afford to carry your property for?  What happens if you don't have another offer like this for the next few years?  Can you financially handle that?"  If the answer is no, they better take this one and bring money to closing!

Your Myrtle Beach Real Estate Connection   Mirela Monte

www.MyrtleBeachHomes.us

I've raised two sons.  I could buy the most expensive toy for one of them, and he'd play with it for five minutes, then he'd ask for a newer toy.  My other son would make a big deal out of anything I bought him, regardless of how small it was.    He was so appreciative for the smallest of gifts.  Naturally, I wanted to give him more and more, because he was so appreciative.  I think God is like that too.

I see so many people take their health for granted, take their families for granted and all the wonderful gifts life bestowed upon them simply go unnoticed.  They only pay attention when the good stuff is gone.  If you don't notice it while you have it, what good is having it?

Do you ever think of how lucky you are to wake up in the morning?  It's a miracle: millions of cells have to work synergistically, perfectly; thousands of systems within your body have to co-ordinate in perfect harmony in order for you to simply exist.  Think about it! 

If you are reading this in the cozy atmosphere of your home, do you stop and think of how lucky you are to be there?  To have a roof over your head, warmth in your room, a computer, and all the other accoutrements you are currently enjoying?

If you have healthy children, are you thankful for that?  I saw parents with their sick 8 year old in a wheel chair yesterday.  He was very pale, had lost all his hair and was visibly ill.  If your son or daughter is in your home right now, bubbly and happy, are you appreciative of that?  When was the last time you gave your son or daughter UNDIVIDED ATTENTION for a half an hour? 

When was the last time you PASSIONATELY KISSED your significant other and told them: "Have I told you lately that I love you, and that you mean the World to me?"

Start the day with gratitude and spend your days with gratitude for all the little and big things you now have, and you'll get more of them.  If you need a head start, simply drive yourself to the nearest hospital or nursing home.  Just walk in and spend some time there.  You'll walk out with immense thanks for what you now have. 

Try it tonight!  And in the morning when you wake up, utter a "Thank you!" for being able to wake up for yet another day!   

Your Myrtle Beach Real Estate Connection, Mirela Monte

www.MyrtleBeachHomes.us                  Join The Optimist!

My sister practiced "The Secret" for almost two years.  She practiced it diligently, consistently, relentlessly.  She made her list, her "wish board", her "wish box".  She watched the movie weekly.  She listened to the CD daily.  Within that two years' span, she actually accomplished EVERYTHING on her list.  She completely transformed her life within less than two years by doing "The Secret".   She is a living testimonial to that movement.  For those of you who have never heard of "The Secret", please check out the website.  You too, will be impressed.   The Secret:   http://www.thesecret.tv/

As a gift to you, I compiled a list of all my favorite "Success Coaches":

Tony Robbins http://www.tonyrobbins.com/Solutions/EventsHome.aspx

Mike Ferry:   http://www.mikeferry.com/

Zig Ziglar:  http://www.zigziglar.com/

Empower You:   http://www.empoweru.net/people.html

Harold Kushner:   http://www.randomhouse.com/author/results.pperl?authorid=48314

Ed Foreman:   http://www.edforeman.com/front.cfm

Dale Carnegie:   http://www.dalecarnegie.com/

Norman Vincent Peele :   http://www.thinktq.com/welcome/tqs_registration_CDs.cfm?sa=109101&ac=000562&lp=000178&gclid=COfVncKgq5ACFQhdgQodKl8EJQ

The "featured" label means that you will have your blog read by lots and lots of people.  It will stay on the front page for quite a long time, and you will get lots of attention, responses, answers, etc.  How do you garner "membership" into this "featured" exclusive club? 

I've had ONE featured post.  I have no idea how I got it, it's still all a mystery to me. 

Does anyone know HOW a post becomes a "featured post"?

I typically get lots of responses to my blogs, but they don't become "featured".

I have many subscribers to my blog, but that still does not do it.

How does a blog posting garner the coveted "featured" label?

If anyone knows, please do share!  

I love Christmas!  In the spirit of this glorious celebration we see the best in people come out... donations, altruism, many acts of kindness...       

"Adopt A Family", feed the poor, etc.   Here is an idea:  why not use this Christmas as a springboard for a year-long commitment, which will hopefully parlay into a lifelong commitment to making this World just a little bit better?  Instead of adopting a family at Christmas, adopt a family for 2008!  Help only those who want to help themselves, teach them how to fish, instead of bringing them "fish", etc. 

Daryl, a good friend of mine was given a book by one of his teachers upon his graduation.  On the inside cover, the teacher wrote a single paragraph about how he thought Daryl was very special and destined to accomplish great things in life.   Daryl read that book cover to cover many times over (it was a motivational/inspirational book).   He believes that book taught him a lot and credits it with a large portion of his success.  To this day, that book means a lot to Daryl, who did go on and accomplished great things, just as his teacher had predicted.  That little act of kindness may have changed the direction of Daryl's life.

Little acts of kindness can make a world of difference in someone's life.   Don't ever underestimate the power of a simple, well intended, small act of kindness.   In the spirit of Christmas, practice random acts of kindness throughout 2008!

A couple of days ago, Annie, one of my agents, received a phone call from a woman who was being evicted.  The call came in at about 9:30 pm.  The woman told Annie that she had been praying for a solution to her family's problems, and in her desperation, since she couldn't sleep, she just picked up the phone and called our company at random. 

Annie called Dena, one of her clients first thing in the morning.  Dena is a lovely Christian woman who always prays for people and believes in miracles.  She agreed to let the desperate woman and her family move into one of her vacant units, a furnished condo.   No deposit, no rent, nothing.  Just gave her the keys and asked her to start paying rent when she can afford to. 

Dena has seen some good days and some bad days.  She is a deeply spiritual woman who prays for people in need and always tries to do the right thing.  Although Dena is up there in age, she looks much younger than her years, and her face is beautiful beyond belief.  Her eyes sparkle with a certain glow, peace and tranquility and she makes you feel right at home the very first time you meet her. 

I am proud of Dena!  I am proud of Annie!  We're so lucky to have roofs over our heads and food on our tables!  We're so lucky to have our health!  This is a wonderful life!  It sure feels right to share our good fortune!  Merry Christmas!