Sandy's Blog

     After talking to other Realtors around the country and here in Myrtle Beach, we all came to the same conclusion, "We've been working with the Vanishing Buyer". 

     The majority of my clients are from states north or west of South Carolina, they take the time and effort to travel to this area with the sole intent of looking for real estate.  We view multiple properties and they find the perfect place.  Then I hear, "We'll call you tomorrow if we decide to make an offer" or "We're going home to work on our finances before we make an offer".  Poof! They vanish without a phone call or email returned.

     In a few minutes I am going to send my "Vanishing Buyer's" an email, not to fuss at them for vanishing but just to let them know that I'm here when they feel comfortable and that not only do I understand their decision to wait I'm glad they made the decision.  My reason for feeling that way is simple, if I can do anything to help detour a purchase that a Buyer would quickly regret that's fine with me.  Since I believe in "What goes around - comes around" not one of my Buyer Clients who made a purchase during the "real estate boom" has serious regrets about their purchase and in the long run that will be to my benefit.   

Several years ago I thought about rolling my IRA into a Self Directed IRA because I had heard you could use your IRA to invest in real estate.   I put that idea on the shelf since my IRA fund was doing fine.  Yesterday I revisited the idea when I found information on the National Association of Financial & Estate Planning (NAFEP) web site that could help some of us who are losing money in our 401(k) and IRA plans.   I suggest you also look at other sources of information about Self Directed investments but NAFEP is a good starting point.

Since the cost of real estate is very low and many retirement plans have suffered losses it may be time to think outside the box:

Self Directed 401(k) offers a wider range of investment choices which includes tax free real estate investing. You become the Trustee of your fund and you self direct investments on behalf of your 401(k);

Self Directed IRA offers a wider range of investment choices which includes income and tax deferral for growth on investments.  Direct ownership and checkbook control of all plan assests and monies plus capital gains deferral;

I also want to mention there is a plan called Self Directed Installment Sale for selling real estate, a business, or assets from a C or S Corporation. 

All of the above plans involve setting up a Limited Liability Corporation (LLC) which is really very simple. A search in your State's official web site may bring up an on-line application.  If not look for information where to file the articles of incorporation.  There are also places that will help you get the paperwork done and filed.  On the NAFEP web site for the Self Directed 401(k) they will create an LLC or C-Corp for you.  

Even though you can not simply create an LLC and roll you IRA into or 401(k) into a bank account you've created.  The process does not involve much more effort.  In the case of the IRA you will need to find a company which is approved as a custodian for Self Directed IRA accounts.  Shop around on the web by using "Google" search.

www.sandymyrtlebeach.com                   www.real-estate-blogs.com/  

You may not think this Blog is relevant to real estate but it could be at some point in time.

Anyone who has a bird feeder will thank you for telling them about my simple and low cost squirrel proofing solution.

For many years I have had a bird feeder in my yard.  During those years the squirrels have dumped the seed out, chewed through the feeder to get the seed, and climbed into "squirrel proof" feeders that cost a fortune.  Hanging the feeder from a pole away from the house and trees wasn't the answer, neither was spraying the pole with PAM, nothing worked.  

Four months ago the latest feeder pole was beginning to bend from the weight of the smiling squirrels.   I was in a home improvement store when I walked through the plumbing section and noticed the PVC pipe.  The cost was a fraction of replacing or trying to fix the feeder pole so I just estimated its diameter and found a pre-cut 5' long piece that looked large enough to fit over the existing pole.  Our squirrels now just root around on the ground under the feeder. 

Four months and 100% effective = A squirrel proof bird feeder fix for a couple of dollars. 

Along with temperatures in the 70s it looks like a rebirth is coming for the Hard Rock Theme Park.   Hard Rock Theme Park opened in April 2008, closed five months later, and then filled for bankruptcy. 

When the Hard Rock Theme Park was scheduled to open it was promoted on my web site www.sandymyrtlebeach.com under Myrtle Beach Highlights.   I soon removed the promo because several people told me it was not worth the cost and once you went through the Park you had seen it all and there was no reason to return.  The closing was a sad event in the Myrtle Beach area that probably came sooner due to the economy but common sense told you it would eventually happen. They tried to sell the Hard Rock Theme Park through an action but that didn't work so the bankruptcy was filed. 

Yesterday it was announced that eleven groups of investors have submitted bids to purchase the Hard Rock Theme Park.  The News today is that it may only be days before the sale is ratified.  Also that the two highest bidding groups both plan to expand the Park and make it a more family-friendly place, possibly even changing the Park's name.  The reopening of the Park would be a welcome lift to Myrtle Beach.

Interconnecting Lake Front residential lot with Dock permission and Golf Course View

Approximately 180 Acres of Freshwater Lakes ~ 27 Holes of Championship Golf ~ Club House with Pro Shop, Pub, and Grille ~ Driving Range with Putting and Chipping Greens ~ Fitness Center ~ Lake Day Docks with Boat Ramp ~ 3 Swimming Pools, Splash Zone, and Water Slide ~ Lighted Tennis Courts ~ Basketball Court ~ Kids Playground Area ~ Wide Sidewalks and Lighted, Tree-lined Streets ~ About 10 Minutes from the Beach and Attractions ~ Choose Your Own Builder with No Time Limit to Build

MLS #813579    Click HERE for more Details

The sun is out today and the temperature in Myrtle Beach is going into the 60s.  Thank you! Thank you!  Went to an ocean front dinner Theatre last night to see a play called "Parallel Lives" and at 9:45 PM we were getting ready to exit the building, I was sure the air would be frigid but it wasn't. We're hopefully back to normal temperatures.

OK Mother Nature, enough is enough.  How can I brag about the weather in Myrtle Beach when it's cold and I've seen snow twice in the past few weeks.  There hasn't been this kind of weather here for at least ten winter season's.  The one winter coat I saved had only been out of the closet one day prior to this year but lately I can't leave home without it, so let's go back to normal.  Thank you in advance -