Custom Built Value: Cypress River Plantation, South Myrtle Beach

"The Lifestyle"

The homes in Cypress River Plantation, South Myrtle Beach embody the entire Myrtle Beach area. That is, these homes are relaxing, laid-back, prosperous, and make a great investment. Cypress River Plantation is known as one of the most valuable sectors in South Myrtle Beach real estate. This is due to its location and the quality of homes there.

 

Intercoastal Properties at Cypress River Plantation

Myrtle Beach has a lot to offer, and it’s quite a sprawling town. Cypress River Plantation is located somewhat inland of the ocean. Most of the homes in Cypress River Plantation are located along Collins Creek, a beautiful, winding, and well preserved creek that connects Cypress River Plantation to the Intercoastal Waterway.

Avid boaters and fishers will be delighted to know that Cypress River Plantation is located on land that contains five acres of lakes! This is one of the reasons why people love Cypress River Plantation so much. There is an abundance of freshwater lakes in this neighborhood, but it’s still very close to the ocean. One can see clearly why real estate in Cypress River Plantation continues to appreciate in value.

Why do Families Love Cypress River Plantation?

You can find quiet, peaceful living in Cypress River Plantation. In fact, it’s a great place for a family. Many families have moved into this area, and the area is gaining popularity. Another charming attribute of Cypress River Plantation is the prevalence of indigenous plants and wildlife. Here, one will find plants and animals that are native to South Carolina. In fact, there are some gorgeous birds flying in this area.

You can get a lot of space for your buck in Cypress River Plantation. Many buyers typically buy between one-half acres and  3 acres in this area. Plus, the prices are great. You pay very little, but you get a LOT of space. Some of the two and three acre lots offer great water access, walkways, and even private docks.

Cypress River Plantation is also located conveniently near the Grand Strand and Murrell’s Inlet. This means residents of this area have easy access to the shopping, dining, and other attractions of South Myrtle Beach. However, those areas are far enough away not to impact the quiet living of Cypress River Plantation. This area is really ideal, because you can live quietly, but you are very close to city life if you wish to venture over there.

Most of the lots in Cypress River Plantation offer some great amenities. Many developments have tennis courts, pools, a resident clubhouse, and much more. These large lots are also lined with beautiful trees. This makes Cypress River Plantation one of the most gorgeous neighborhoods in all of South Myrtle Beach.

What Makes South Myrtle Beach Properties a Good Investment?

If you’re looking to invest in South Carolina real estate, then take a look at Cypress River Plantation, South Myrtle Beach. This little-known community offers investors great value for a low price. Plus, the value of these homes is consistently increasing.

Investing in real estate is much smarter than investing with investment bankers, because real estate investments are tangible. A thriving market such as Cypress River Plantation, South Myrtle Beach will pay off for investors.

 

       Treasury sets guidelines to simplify “Short Sales”

NEW YORK (Reuters) – The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed “short sales” of homes and other loan modification alternatives to stem a rising tide of foreclosures.

The Home Affordable Foreclosure Alternatives Program provides financial incentives and simplifies the procedures for completing short sales, a growing practice in which a lender agrees to accept the sale price of a home to pay off a mortgage even if the price falls short of the amount owed, according to an announcement on the Treasury’s website.

Guidelines address barriers that have often sidelined short sales by setting limits on the time it takes a bank to approve an offer, freeing borrowers from debt and capping claims of subordinate lenders.

The incentives, first announced in May, expand on the government’s Home Affordable Modification Program, known as HAMP, that has seen limited success in lowering payments for distressed homeowners. The Treasury earlier on Monday stepped up pressure on mortgage companies to make permanent the 650,000 trial modifications they have started.

“While HAMP program guidelines are intended to reach a broad range of at-risk borrowers, it is expected that servicers will encounter situations where they are unable to approve” or offer a modification, the Treasury said in its announcement.

Financial incentives for completing short sales or similar deed-in-lieu transactions – in which the deed is simply transferred to the lender – include a $1,000 payment to servicers, and a maximum of $1,000 to go to investors who sign off on payments to subordinate lien holders, the Treasury said. Borrowers would receive $1,500 in relocation expenses.

Short sales are favored by real estate agents and community groups over foreclosure because they can preserve the borrower’s credit rating and leave the property in better condition than when a homeowner is evicted. While primary lenders typically realize steep losses, their recovery is typically far better than under foreclosure.

But short sales have been frustrating for borrowers and real estate agents, often hung up by negotiations with multiple lien holders and mortgage insurance companies. Real estate agents have complained that sales fall through as lenders bicker over the sales price, what they should receive from the proceeds, and whether the borrower will be held accountable for the debt in the future.

Among requirements, mortgage servicers have 10 days to approve or disapprove a request for short sale, and when done the transaction must fully release the borrower from the debt.

It also prohibits mortgage servicing companies from reducing real estate commissions on the sale, a practice that has dissuaded many agents from taking short sale listings.

In one of the most contentious issues gumming up negotiations between lenders, the guidance caps the aggregate proceeds to subordinate lien holders at $3,000.

Second lien holders in recent months have begun demanding more money from the first lender, seller, buyer or agent in exchange for releasing their claim, agents have said. Because primary lenders would face larger losses in a foreclosure, some subordinate lenders have felt empowered, the agents said.

The largest second-lien holders are Bank of America Corp, Wells Fargo & Co, JPMorgan Chase & Co and Citigroup Inc.

Second lien holders may proceed with a short sale outside of the Treasury program, if they felt the cap was too low, a Treasury official said in October.

“If there was a short sale program that didn’t recognize the second lien holder position, it could have pretty damaging consequences for the industry,” Sanjiv Das, chief executive officer of CitiMortgage, said in an interview last week.

(Editing by Leslie Adler)

 

 

 

 Why do I see the Myrtle Beach market picking up?

For the ones of you who can remember the old days when life was good, economy flourishing let me say this. Some of the wealthiest men on earth built their fortunes on “Gut Feelings”. Don’t get me wrong, these people had Smarts as well, they just happened to have intuition to round out the whole package.

 Today’s real estate market has been bad, no one will deny it, still not as bad as the mid 80’s. Hell, interest rates in the high teens and low 20’s, not that will take the wind out of anyone’s sail. Gut feelings make a lot more of life’s decision than people like to think. For instance, look at poker players, stock investors, professional golfers, athletics of all kinds, Trump Enterprises for a few.

Alright, enough of my rattling on, jabbering away and so-on.

Three Points to Ponder:

1. We have had increased units sold now for more than 6 months. Why you might ask? It’s not because we have more realtors hauling people around, in fact we’re losing them like rats on a sinking ship.

2. Obviously homes are beginning to move in the Northeast by the tremendous increase in traffic from them there folks lately. What’s really amazing is the number of folks who ain’t never even been to South Carolina little on the Myrtle Beach area.

3. Activity has jumped through the sky on websites recently, so that’s somewhat of an indicator. Yea, I hear you, some people are “Internet Junkies” and have to search every free minute they have. I’ve got a couple like that myself, shucks, this one client is already on their third trip thru the complete MLS property inventory and ain’t never answered an email yet. God Bless Um, they don’t know it yet but I’m a very patient realtor and we’ll be sittin across the table when they least expect it.

4. Last but not least, Don’t forget, the American Dream will always prevail as it has through all the bad times before. You see, there will always be folks looking to buy that very first home, upgrade from their present home or just get a yearning to have a nicer place. Some are even looking for a GET-A-WAY from their hectic lifestyles somewhere else for a couple times a year. To make it even better, we’ll never run out of folks who want or need to sell their homes.

Let me end by saying this, it may not be today, next month or even next year but when you do get that hankering to check out our Beautiful Lifestyle, don’t forget this “Old Redneck Retired Navy “Seabee” at RE/MAX Southern Lifestyles cause I’ll be here to help your Dreams Come True.

Ya’ll come see me, ya hear,

Doug

www.FindYourMyrtleBeachHome.com

The New and Improved Home Buyer Tax Credit

The much-anticipated extension to the home buyer tax credit has finally been approved.  The Senate’s vote yesterday resulted in a 98-0 win and today it was passed in the house.  The bill now moves to the President’s desk for a final signature. 

First-time home buyers have been eligible for tax credits of up to $8,000 since last January as part of this year’s economic stimulus package.  The newly backed program will expand the credit to include existing home owners.  

Under the revised program, those who have owned a home for at least five years will be able to apply for tax credits of up to $6,500 when they purchase their next home.  To qualify, buyers will have to sign a purchase agreement by April 30, 2010 and close by June 30. 

The maximum purchase price on a home will be $800,000 with vacation homes not eligible. Income limitations are $125,000 for single tax payers and $225,000 for joint filers. 

The National Association of Realtors (NAR) and the National Association of Home Builders (NAHB) have been lobbying hard for the extension and expansion of the tax credit.  NAR claims that so far, about 1.4 million first-time homebuyers have qualified for the program and they estimated that 350,000 of these buyers would not have otherwise purchased. 

The tax credit is also set to be extended for another year for military personnel serving outside of the United States until June 30, 2011. 

Myrtle Beach Foreclosures

Are you an Open House junkie? If you are, don’t feel bad, I guarantee you, there are thousands more that suffer from the same thing. In fact, many years ago my wife and I were addicted to going to open houses. Every Sunday, we could hardly wait for 1:00 to arrive. I really think that we both thought spending time researching the market would absolutely be wasting our time. You have to understand that in those days, the days without computers, there were pretty much open houses on every street. Realtors in those days did not have the luxury of tapping into literally hundreds of buyer prospects with the click of a button.

In today’s real estate market the open houses represent such a very small percentage of the available homes available that finding that perfect home is virtually impossible. You can today, with some neighborhoods not allowing yard signs you could be within 20 feet of that one home that would fit your family’s need perfectly and never realize it. Realtors, the savvy ones, realize that when preparing an open house one of the most valuable assets they have is the ability to mass email literally thousands of prospective clients. Not only this, but with the click of a button I can touch over 2000 realtors who have buyers throughout their buyer databases that may be looking for that one particular home.

The one thing that I have discovered in my many years experience in this business is that if my clients are willing to spend just 30 minutes to an hour in my office gathering information and establishing a good well thought out buying plan we can accomplish great things. We can find that one home that fits their needs and find it in a much shorter time, saving them literally days of wasted time. We are also able to get their home at a fair market value and in many cases even below fair market value’

You see, when I go that extra mile really caring about their wants and needs, together we accomplish their dreams and goals. In return they help me accomplish my goals, that being, building my business entirely based on referrals. That’s right, my clients are a very high priority with me, not only during the search process and the escrow period but for years afterwards. This business is about lasting friendships so let’s get started.

Doug

Title: Credit card debts have added to the financial woes of consumers
Credit cards debts have escalated following the subprime mortgage crisis. In fact the entire real estate market received a bolt from the blue due to mortgage crisis. Not only that all sectors of the economy faced the wrath of the subprime mortgage crisis that originated in United States and sent tentacles to all the major economies of the world.

So strong was the financial crunch in its initial phases that it affected consumer confidence, consumer spending and investor sentiment. There was a series of reactions that resulted from the mortgage crisis and it gave rise to one of the toughest economic times witnessed ever by consumers lately.

What role did credit card debts have to play in the financial crisis?
The irregularities in the credit card industry were surfacing for quite sometime now. Subprime mortgage crisis shook the entire real estate sector as housing prices plunged, sale of single unit homes, condominiums etc nosedived. In fact the mortgage rates are still at an all time low. Owing to liquidity crunch, lenders adopted very rigid lending norms. It may be recalled that the subprime mortgage crisis was mainly triggered by irregularities in subprime lending activities. So, lenders exercised increased caution in approving fresh credit.

Since consumer spending was affected, business entities didn’t earn the profits they did. To compensate for the loss, many employers as a cost cutting measure laid off its employees. As the severity of the liquidity crunch grew, consumers started using their credit cards to pay off even their grocery bills and utility bills. They were unable to meet expenses. Meanwhile, credit card issuers changed their credit card payment policies and reduced credit limits. However, credit cardholders continued using their credit cards as per older terms of usage since they were not aware of the changes. This caused increase in the number of delinquencies that eventually forced credit card debts to grow at an alarming rate.

Since the economy was already fragile, credit card debts added to the woes of the fragile economy. Although the government stepped in by introducing new credit card regulations, these credit card regulations are expected to bring in some relief for the consumers. It was earlier decided that these credit card regulations will come into effect in February 2010. But reports suggest that it is quite likely that the regulations may be implemented by the end of December 2009.

Read more  http://www.debtconsolidationcare.com/credit-card.html

Racing to complete their purchases before a tax credit for first-time owners expires, home buyers pushed sales up last month by the largest amount in more than 26 years.

After jumping 9.4 percent in September, home resales are up nearly 24 percent from the bottom in January, as of Friday October 23, 2009. But the housing market’s momentum could easily stop if Congress doesn’t extend the credit of up to $8,000 for first-time buyers beyond its current Nov. 30 deadline.

Nationwide sales rose to a seasonally adjusted annual rate of 5.57 million last month, from a downwardly revised pace of 5.1 million in August. It was the strongest month in two years and beat economists’ forecast of 5.35 million, according to Thomson Reuters. Sales, however, are still down 23 percent from their peak four years ago.

In another positive sign, the inventory of unsold homes on the market fell almost 8 percent to 3.6 million. That’s less than an eight-month supply at the current sales pace, and the lowest level since March 2007.

If you haven’t had a chance tp visit my newest website you really need to. Some new ideas, Radio Channels, You Tube Video Channel, Setup your own Property Alerts, Save Your Favorite Properties and much more:

www.FindYourMyrtleBeachHome.com