Sandy's Blog

I'm trying out the slideshow feature from Picasa and it seems to work great plus it's free. Photos seem to draw attention to my web site and blogs so I was happy when I finally figured out how to embed the slideshow. I am trying to dedicate several hours per day on the improvement of my website and blogs so any suggestions would be greatly appreciated. www.sandymyrtlebeach.com

According to lenders a condotel is just about any condo that has an on-site short-term rental (daily or weekly) with a check-in / check-out service involved.  Some lenders even consider off-site check-in / check-out for short-term rental as a bad mortgage risk.  For those who are considering the purchase of a condo on the ocean there are some fantastic values available but loans for a mortgage have become a day-to-day event.

When considering an ocean front condo purchase in Myrtle Beach or anywhere else plan ahead.  If planning to obtain a mortgage first ask your Realtor if they know of a lender who is local to the area of interest.  If unable to locate a lender located in the area of the potential condo purchase try the present principal home mortgage company or a company used in the past.  Some may also want to consider a home equity loan if they qualify.

I know of two places where you might try to get a mortgage on a condo in Myrtle Beach:

Investors Mortgage and RBC  

Myrtle Beach SC Real Estate

 

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During the past year many conversations I've had and even blogged about focused on the fact that many real estate buyers changed their mind about a purchase after they heard the evening news.  Then a few weeks ago I was talking with several people who said they no longer watched the news on TV because they did not want to hear only bad news.  We all agreed that you never hear anything positive on the News.

A couple of days ago I heard something about a TV News Anchor that talked about good things that had happened to his viewers.  I thought I was hearing things wrong but I was not.  Brian Williams deserves a big THANK YOU!

 

 

www.SandyMyrtleBeach.com

Anyone who has had to relocate, purchased a vacation home or investment property knows that it is not easy to find a perfect place when you do not have complete knowledge of the real estate search area. Many times even if we have visited a place for years we really do not know as much as we think we know. I became aware of not really knowing the area several times, once moving to Florida and the second moving to Myrtle Beach, South Carolina. Both locations were routine vacation favorites but I found out that there was still a need to find someone with more knowledge of the area.

Your search on the internet is only the beginning because the listings you see are usually links or feeds from the actual Multiple Listing Service (MLS) plus they may not contain the information you need for comparisons such as, heated square footage or monthly POA/HOA fees. In most States, if not all, only those who are paid members of their local Board of Realtors have access to the real-time complete information contained in an MLS real estate listing. As you know, every real estate listing is an "advertisement" to entice you to want that property so treat them as your first step in your purchase process.

What should you do when the time comes to physically look at real estate? (Choose A. or B.)

A. Make an appointment with each of the Seller's real estate agents to view a property knowing that by law they must act in the best interest of their client.

B. Find a Realtor who will act in your best interest at no cost to you, who can show you all the properties that you want to see and, if you have made a wise choice, will normally save you time and money on your real estate purchase.

If "B." was your choice you have done your homework and you will soon be the envy of the real estate know-it-all that has regrets.

Your Realtor will now help you search based on the criteria you provide.  Viewing properties may take days, weeks, or even years but somewhere out there is your perfect piece of real estate at the perfect price.  One thing to remember is stay in contact with your Realtor and tell them your likes and dislikes about the real estate you view.  Without that knowledge you may get bogged down with property listings of no interest.

If you plan to mortgage a property in an area away from your present primary residence you will need a lender with an office in the area of your new purchase.  Ask your Realtor for a list of resources.

Your Realtor should coordinate activity between the lender and (South Carolina) a closing Attorney.  If closing is done in-person your Realtor should also accompany you to carry out their purpose of acting in your best interest.

If you have found yourself a terrific Realtor they remain available to help by accepting deliveries or meeting service people when you are out-of-state or in the process of relocating.

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