Myrtle Beach Real Estate Radio Show With Blake Sloan 09-04
Blake Sloan Hosts His Weekly Radio Show On WRNN 99.5 FM Hot Talk Radio.
This Weeks Topics Are: The Brand New Myrtle Beach Real Estate Market Stats For Last Month. Current Status of the market going into Fall 2020, And The Usual Success Stories!
He says a little bit. Thank you. It's time for the expert advantage, real estate, real estate agents not only on the ground floor, but in the world that featured in Forbes magazine, The Wall Street Journal, NBC and many other publications. And now the expert in damage real estate show. That's exactly what time it is right now. Time for the Expert Advantage Real Estate Show with little light coming up in just a second. In the meantime, let me give you some contact information.
You'll need to know if you want to get in touch with me after the show. That's for sure. Whether we get more information or if you buy and selling whatever, late today, it is obvious. Slow Realty Group for realty group. The phone number is eight four three eight eight eight four three eight zero eight as the outgoing kind of like Sloan Dotcom Sloan Dotcom overview that information a lot over the next 30 days time. So the show started here.
Good morning, everyone.
Got an awesome, awesome show. Tons of crazy stuff going in the market right now that we're seeing here locally. This is the twenty fifth Corona edition that we've had. Twenty five straight weeks of just doing this through the new covid-19. And really what we've seen in here is a perfect storm. Right? We've seen a perfect storm from every one up north continuing to move down here. We have the brand new numbers out from last month, just how the press and they're shocking again to say let's have some more records that we're seeing in regards to what's happening in the marketplace.
Inventory are dangerously low in a way where a new record we hit from for low inventory, a.k.a. the amount of homes for sale. So we're facing right now inventory crisis where we need homes to sell. And we'll talk about that as well. Huge news. Our team, again, over 20 plus properties under contract last week. We just had the single largest seven day period of homes going to contract since we've been tracking it. We were back when we started.
We started tracking each week of how many properties are going to contract. It was like three hundred. Four hundred. Well over eight hundred. Almost nine hundred properties when under contract the last seven days. So crazy, crazy stuff you're seeing right now. We also have a new report, a 20 20 home buyer wish list. We are seeing so much change right now with covid-19 and really how the whole world operates, what buyers are looking for in homes if possible.
And so that's what we'll talk about to again. And one thing that really kind of stresses how Myrtle Beach is kind of in that perfect storm, right. We're still affordable destination. We want to top beach destinations, United States of all time, low of interest rates, kind of hovering near an all time low. And so ultimately, we're in a huge, huge opportunity in regards to real estate where so many people move. We close in a couple of homes this week where the people have not seen them.
They were toward virtually through technology. They have not seen it yet as well. We'll talk about that as well. Of course. Amazing, amazing success stories, as usual, very proud of. Also, I represent a fund with millions of dollars that's looking to purchase properties outright to if anyone needs anything like that. Just a quick instant buyout had the ability to. But more importantly, listen to the show. We'll talk about how right now is unprecedented time where you get absolute top dollar for your home, much when we've seen for for over a decade.
All right. Sounds good. We're just getting started on this, but for the very first time wondering who is this guy been called? The real estate was in that region of Forbes magazine. Wall Street Journal Realtor magazine and other national publications on TV. You may have seen his face on NBC or maybe with Fox and Friends Morning Show, also personal endorsements. You've heard those on this very radio station and a report back in the box and put them all together.
It's unprecedented in the world of real estate. Now, in addition to that, each and every week, you're a little bit more about the free market system as the sellers and home buyers can't tell you all the little secrets, the details.
But more than happy to tell you, the biggest part of that free market is so important, especially you're dealing, for most people, their largest asset or one of the largest assets, a.k.a. the real estate, because the single most important variable that determines your failure or success as a home seller comes down to one thing, one thing only. That thing is the agent you choose, period. A commitment to talk about this every single week on this show because of so many horror stories that we all talk about.
Actually, two of them today that we've also heard. And so the reality is people think don't make this mistake of thinking they're all real sage are the same. It could not be further true, just like any doctor, any lawyer, if you have an open heart surgery. Well, somebody who's the absolute best, who lives, eats, breathes that and knows they're doing right the same thing. You're charged a crime you did not commit. You don't want to part time attorney who someone said may be able to help you out.
Right. You want the absolute best. And so you should have that same commitment and desire for having someone to help represent you when you're looking to sell your home and buy. And so why does it matter? OK, when you're selling your property, there's one hundred eighteen different variables from A to Z of each one is handled correctly. Plus one your pocket property is sold. Anything incorrectly. Akay, they drop the ball that Kalisha your hard earned equity or the property does not sell.
And so that's something that we see happen over and over. And the problem is most ages don't even know what the variables are. They're just winging it. They do the three. PS one, they promise the world get listing to. They put it to MLS. And three days pray that someone else brings a buyer, meanwhile, they put it there down the street trying to get the next listing from your neighbor because they're trying to survive in the business.
Right. And that's what leaves so many homes that are just hanging and not getting a result they want. And so what we did is one of the first things I did is, hey, look, let's identify every single variable in that process and let's put it on paper, on paper. And then what we did is we create a system that's proven, repeatable, backed up by technology and people on the team to create maximum leverage, every single voice.
So we do is we create a gap at point one, a gap in point two. And what we do there is stack the dominoes. So at the end, there's a massive gap between us and everyone else. And what that does there, it gives our client a huge competitive advantage because we proactively manage each variable so that it does not get dropped. And that could be anything from the quality of your photos, which is why we have in-house professional photographer.
It could be anything from the order your photos. It could be. Does your agent answer the phone when somebody calls out for sale sign? Does that agent responsible online leave once it comes in off the Internet? Right. How long does it take them to respond? And so there's all these different variables that matter, especially right now. Do you have access to the data to help you make the best decision so you don't leave ten or fifteen thousand dollars on a table?
And so those are things that matter. So what I did there, reverse engineer every single one and put that system that systems called the guaranteed solar system the only proven system. So almost twice as fast and for up to 20 percent more money than traditional methods. And it works very, very, very well. I designed it is exclusive to us here. Anyone. So you have something similar there? Felt flat out lying because I created it. But we do license it out to other agents, other parts of the country.
And so the reality is it works. It's just like having a marathon. Everyone takes off at the shocking start. People start running. Looks pretty normal the beginning. What happens is over time, people spread out. I'm finished two and three hours and other people, it's the same exact thing that we do with your largest asset. And so make sure you have someone who has a proven, repeatable system. And so that's just something that's super important.
And here's a thing like when you're dealing with this level of assets and it matters who you have, you're not buying a Best Buy TV or every single variable matters and makes your breaks. Five, ten, fifteen, twenty thousand dollars in what you're doing. We talked about last week show the horse or the guy who didn't like realtors who talk to us on the phone, did not meet with us, end up doing it himself and calls himself ninety thousand dollars instantly.
Right. And so we'll talk about that here in a minute. But it's the same exact thing on the buyer side. Usually they're the opposite variables. And so what we did to reverse engineer a system, they're called the unfair advantage home buying system gives you probably access to foreclosures, distressed sales, desperate sellers, the absolute best negotiation or purchase price also through the closing process in the home inspection all the way to that closing table. And so the key is you want to have a true expert.
Everyone, our teams are certified expert. We're very good at what we do. And it matters. Right? You need to have someone who's there to help you. I'll talk about a horror story in a minute or someone that listens to this show actually had called in, talk to us in a listening house to someone. We looked it up. That person has never, ever sold a house before. Never. Right. The last thing you want to do, could you imagine being someone who does say that there a doctor doing the first open heart surgery, they have no one there to help them, an individual, and they're just testing out on you.
The last thing you want to do with your largest asset is do that. And so the bottom line is, if you listen to the show right, you owe it to yourself to get that level of service, to make sure all those variables are handled. And that's we'll talk about here the rest of the show in a few minutes. All right.
Sounds good. We're just getting started. Lot of places to go. And just we'll find out what the interest rates are looking like right now. The market is looking like right now as well anyway. But the very important numbers don't go anywhere as real estate should look like fun. Like today it is on the phone numbers. The Group of eight four three eight eight eight four three eight zero eight, as if you were in the market to make the most money of your home.
And there was an important advice. I am an active investor. I have bought and sold a lot of properties in moderate markets. And one of the lessons I have learned is this Category three demand in this market. No question there's only one real estate agent. I thought I needed to sell my home area of fighters every day on average, every twenty four hours. Now that you sell your home for the most money possible home doesn't sell, you have a responsibility to manage your home.
Great demand for today and people being sold and sold to the market strategy for most of the money on the line. I would have flown this international market. And if you own this place, you're going to partner with the agent I trust, go online or cool and get your home sold and.
It is the answer to that is a little big show coming up in just one minute, we'll find out what the mortgage rates are looking like right now. But in the meantime, let's find out what some of the numbers look like. The real estate market like in the area. It's so crazy, that's for sure.
I mean, it's been a wild ride the last few months. And just kind of looking back all the way through March and April, May, we had the shutdown. And so there's two important numbers. Look at this month. This week, we're going to talk about the overall macro numbers for the whole Grand Strand last month, fresh off the books. And so that's a key part because let's just look at what's happening overall in our granddaughter and how it will be stacking up to how we were last year and also to other areas of the country.
But the second metric we've been tracking is real time. How many properties are going to contract each week? I've been listening for a while. We started doing that just because I wanted to know, like real time data. If you look at the macro numbers, they're usually a month behind. And also, if you look at what that means is usually if something goes under contract 45 to 60 days later is when it actually closes. Why that would go through a financing process, underwriting title, search all this stuff.
And so I want to know what's happening real time and also what's happening in deals closing. And so we look at both those metrics. It's become very powerful here during the show to kind of watch each week. My team and I look at it every morning for the previous seven days just so we can get a pulse of what's happening so we can better advise our clients on what to do. And so, for example, if you remember when the thing started shut down around March and April, there was about three hundred eighty four hundred properties per week on to contract.
Once we open back up, back up five hundred and six, 600, we were averaging between six and seven hundred. There was mid to high 70s for the past month or so this past seven days. Eight hundred and sixty nine properties under contract, the largest that we've seen in the seven day period since we started tracking this in March. Two hundred and fifty one million dollars under contract, one of fifty one million six hundred thousand three hundred fifty one dollars.
So what's that mean? A ton of people buying right now, especially here, a lot of high end stuff to look at. Those 18 million dollar piece of property has been on the market for so long. It's a large tract of land on the waterway, just one to contract, two point eight dollars million property. Palis Island, two point four million dollar property here, Black Creek. And that was only in the market a few days. And so the reality is we're seeing a lot of high end properties.
We just closed on a two hour property on the waterway this past week on Monday. And so the reality is a super hot right now. So when you forecast out 45, 60 days from now, you're going to see a ton of big upswing in regards to how many properties closed as well. So looking at the overall macro numbers from last month, they just came in looking at August. So single family home sales compared to the same August last year of five point seven percent.
Nothing like we saw last month where if you look at last month, July, seven hundred eleven properties closed this month. Five hundred ninety three still up from last year was a bit less because inventory super low. Right now, there's just less properties available. What's really causing that? Let's talk about if you look at this amount of supply, the amount of supply is down forty five point three percent. So we have forty five point three percent less homes available for sale than we did the same exact time last year.
And so you can see how that's creating massive pressure on price. Right now, there's two point nine months of inventory. And so what that means is if there is not a single home listed in two point nine months, we'd be run out fully dry. And so we're seeing a lot of properties that are even like problem properties that couldn't sell before. They're getting offers, they're getting sold. But we're in a crisis and inventory crisis is lowest. I've seen it since we've had technology to do.
So I go all the way back into the data. It was October. Twenty six was the last time it was this low. But think about how many properties have been built here since October. Twenty six. And it's still that low. And so it's is wild to think about the all development, both condos, houses in all those areas and we're still at two point nine months. Inventory right now is one hundred percent full blown crisis. And so we're still not seeing anything let up.
And so if you listen to the show out there, we did inventory and that's we don't want to share this and talk about that's a crisis we're dealing with. And it's been listening for a while. I need you to do me a favor. Anybody talk to a friend, relative, aunt, uncle Cousins? We like them, don't like them, whatever it is, they mention anything about real estate. Have them call me. Pull your phone.
Hey, look, you got to call my buddy Blake. His number is eight sold because we can get it matched up with buyers for top dollar right now because we have so many buyers for Cross Country. I'll talk about that in a minute. Sales price up thirteen point three percent last month, three hundred thirty five thousand is the average sale price for the overall restaurant, the median price of fourteen point nine percent at 217. So prices are still climbing steadily, pretty much as high as they can.
That the appraisers allow are the biggest challenges we've run into is that appraisals can't keep up with the amount of demand and how high prices are going. So that's what we want to keep watching. And really, that's kind of what's limiting it a little bit overall. And so the one thing that you're also seeing is how many showings per listing, how much more traffic. This year, this month versus the same month last year, it's up twenty two percent, and so right now it's 22 percent more buyers looking at properties accessing them than there was the same month last year.
And so that means we're still going strong into these next few months. I have some friends all across the country that are that are pretty highly concerned that we may see some type of economic challenges going forward. You start looking at what's happening with our commercial real estate right now. Have a good buddy in Dallas, a man who's just talking about how they shut down the big giant hotels. Next, his high rise office building. He said his high rise office building was 100 percent capacity parking lot for he said it hasn't even been close to halfway full since April.
And so you're going to see, I think, a trickle effect. And so if you're thinking about selling cash in right now at the top, especially, you're looking at moving loudly or up or down because interest rates at an all time low, you can really capture in and obviously take a lot of the equity out. We have so many homeowners who basically didn't realize they get as much money as they can, sometimes. Thirty thousand more dollars they thought they could get in many cases.
And so that's just something interesting to watch as well. New construction still been smoking this much. Their sales are up twenty one percent last month alone. And so into condos, you're seeing very, very similar thing as well. Condo sales are up two point three percent last month in the same month last year. But the key part here, you're seeing prices also up, prices up thirteen point six percent at one hundred ninety thousand. If you look back in twenty seventeen, the average sale price was one hundred thirty two thousand.
Now it's one ninety. And so that's kind of how you're seeing the overall increase. Their inventory also down in a condo is down eight percent at four point six months. But the one thing I see this time is the market. I mean, the business since January 2005, my whole family's real estate, mom, dad and uncle, grandpa, grandma. And so the reality is this time is different, right? Two thousand fathers, so many flips and people flipping condos.
And just it was so much different this time. We're seeing single family occupant's and second homes moving in and migrating from other areas. And I'll talk about that perfect storm. We're seeing so much pain in the northeast, in these large cities. They want to escape covid and all the different restrictions that they're very frustrated. I've never seen such a frenzy before where people literally are buying these large assets via phone. They're shipping their stuff in containers down here just to be able to get ahead of time to make sure everything's handled, because especially in New York, New Jersey, there's been a concern where people can't go back unless they quarantine.
We have a lot of clients to just say, hey, forget it, we're not even paying attention to it. They go anyways. Have had anybody that's gotten in trouble yet. We didn't advise to do that was hey, look, we advise that, but they're still doing it. But the reality is it's a whole different ball game I've ever seen right now. And so if you're home or take advantage of that right where everyone's moving to and you have the product they want, take advantage and strike while the iron is hot, as my mom used to always say.
And so that's what we'll keep watching. One thing this keeps driving this overall is, again, interest rates on top of that. And that goes back to that perfect storm, massive pain in the metropolitan areas. People want to escape that. And obviously people having new desires what they want and look at people who enjoy life a little more or if they're locked down somewhere. I like interest rates right now. If you look at last week's show, there are two point nine five percent this week.
Right now, two point eighty five percent, which is awesome. We're very close to the all time low of two point eighty one percent, a fifteen year fixed rate right now, two point three nine percent, which is super, super low, very close to the all time low. A 30 year FHA loan, two point four six percent. That's a steal for anybody out there looking for your first time home. You're getting three percent down, two point four, six percent.
We've had so many first time buyers buy and we're blown away. How much less? Their monthly payment was in the rent prior. If you have a family member or yourself, we have a specialist on our team, also a we're partnered with to get maximum leverage for you there. If you look into that, a jumbo loan, a 30 year jumbo loan, three point five four percent, and a five year adjustable rate mortgage is two point seven five percent.
What's this mean? Money is cheap, right. And people are moving here like crazy. I haven't seen anything like it. Like I mentioned before, our team has kept that pedal to the metal since the whole thing started. And the reality is we're burning at both ends, pushing to make sure we keep up our largest month ever in history of our company last month because we're just trying to keep up with what's going on. But we need homes.
And we'll talk about in a second. If you know anyone out there thinking about selling, have them call us eight four, three, eight.
So go on the show. Don't go anywhere. We've got thousands of people and great success stories about stories coming your way in just a minute. We want you to be a success story. We want you to come to this office right now. Group that we're three days away for three are going to slow. When I won the award for Song of the Year, it struck a chord with folks who understand the challenges that come with life. For many, that happens when it comes to.
Some of these agencies won't let you out of the conference. You're not happy with the service. That's why Myrtle Beach, I can tell you that a group home on a whole different level.
Now, listen, Blake is so confident in his ability to sell your home quickly and for more money that you can choose to sell it and sell if you're moving on sale experience online or you can call it a three star real estate show.
And then we've got some great success stories. We get to it. First of all, I want to let you know how many people are out there looking for your home as you're going to go like has a problem with inventory. We need that. And if you've got a home that you're even thinking of selling, contact them immediately at eight four three eight eight. So why there are thousands? Take that back. There are tens of thousands of people on this website right now, fifty eight thousand seventy one.
I looked at how many people have active accounts looking for a home in the Myrtle Beach area. They're looking for your.
Yes. And these are like they mentioned, username, password, account. You go back to some of the YouTube videos where we stream this back on the overall lockdown started happen. I say, look, we're to keep pedal to the metal. We should a massive amounts of money driving traffic online and we literally outspend the average Asian one hundred one for marketing standpoint. So what gives us an advantage? Let's say you wanted to you're thinking about calling me or Theama calling in, like, why should I call you?
OK, here's the thing. I'll spend tens of thousands of dollars driving traffic online before you pick up that phone. And so one of the first things we did way back is we really got dialed in to buyers in the Northeast. And so we said, hey, look, here's where the money is coming from. And guess what? The first place most people go straight to Google. Right? And so we spent a lot of money online driving traffic.
And so we have buyers from all over the country, like they've mentioned, tens of thousands of hours in regards that almost. Right. Sixty thousand bars are very close to. And so the reality here right now on the site, how John Clotfelter from Newport News, Virginia, Amy from Charlotte, I got Mary from Waynesville. I go all over and they're all four properties. And these you've been here like seventy nine visits. Tammy here. She's been on site seven times that she has fifteen favorite properties right now.
And here's a problem. I need inventory. We need properties to sell. This is not somebody in here. Just sales is the lowest ever has seen it since I could track it. And that's the biggest crisis we're facing right now. And again, you have somebody thinking about it, take advantage and strike while the iron is hot. But I definitely my radio warriors out there, anybody you run into that mentions it, just do me a favor and say, look, you have to call Blake number one for their sakes.
We can make sure we can get them top dollar. And here's the thing. We have that many buyers were able to take our fifty eight thousand five hundred seventy one active buyers and match them up. We have technology that we built out that will take all the the buyers we have take their property, your property and reverse engineer, the most likely buyer of that property based on the features and based what they've been searching for. And so that's a difference what we have.
That's many buyers in the technology to match it up and a sale seems experts who can actually push it for you versus just having somebody puts MLS and lets it sit there. And so I want to rewrite that again, because that's our number one challenge right now. And we don't know how long this is going to last, because obviously the uncertainty with elections, a lot of uncertainty with vaccinations and there's a lot of uncertainty right now. At the same time, real estate's at the highest we've seen in a very, very long time.
Do not miss out and let that window shut down for sure. So bottom line is, we're an inventory crisis two point nine months down. Forty five percent from where it was last year, with buyers still streaming in here like crazy. And so we're selling a lot of properties for tens of thousands dollars more than they thought they could get and doing it within hours. And so that's also turnkey. And we can help advise you on what to do, what not to do, to get the most amount of money.
So real quick, we got a few minutes left. I want to get to some awesome success stories. Also on top of that big shout out to both Dan and Carrie. Super smart people listen to this show you listen to every weekend and are called us this week to get it sold for them ASAP. Beautiful house, right. Or the ocean or Myrtle Beach. And he bought it, had had a horror story with the previous agent a couple of years ago to say he did not want to go that again.
So he called us first super smart people out there as well. So bigshots shot to Jake and Angelina. They're looking to move closer to family in North Carolina to help them with their having children. And so they need to build a house here ASAP and for top dollar so they can close their house in North Carolina. And they called us after they already had that one lined up. They wanted to be there close before the baby arrives. Thankfully, Jake was referred to us by a listener of this show who had all success stories.
We came in design coastal marketing plan to get him top dog barking blitz. Professional photos of massive traffic in one day had him all for three thousand dollars above asking price. Now Jake and Angelina can move to the North Carolina without having to worry about anything. Fancy mortgages. And they put maximum dollar in their pocket, which is cool, really quick commercial to Cliff and Kim have their houseless. Another agent for over six months, zero offers, and they had a new home being built.
The river need to get top dollar so quickly. Thankfully, obviously, they called us they heard us about on this radio station we came in is that we identify the problem, which was marketing. It did not look as good as it should have online compared to how the House looked in real life, which is not a customer strategy or marketing professional photos. Virtual reality walk through just a couple of weeks ago, had just a couple of weeks on the market, massive traffic offer.
Ninety eight percent of asking price, and that's something that supercool as well. And I wanted to get here. This one that's interesting, Katie on our team, she's one of our buyer experts. She told a story about Kuriki, meaning they're from Maryland. They came down during the pandemic and they wanted to celebrate their their honeymoon. They also they felt a great deal, about three hundred seventy two thousand. They got it for three fifty because she negotiated off in this crazy market.
And the one more, Jackie and Mike, here's a coupon. They would work with Amanda on our team, but they want to move to Myrtle Beach from New York before they have a trip plan in July to buy. Mike's doctors advise against it since he was in remission from cancer. So Amanda went and did virtual tours of properties with video for them able to go. Property, property sense homes are flooded the market really quick. They near the top five, they found one on the market.
She was there within three hours and they got under contract the same day. And so all without Jackie and Mike ever seeing it. And so this is like a new world we're in right now, man, people buying houses off of cell phones. And so this is something that we want to take advantage of. I don't think it's going to last as long for sure. But if you think about selling how much time I got now, don't be the guy to situation.
And when we talked about Terry briefly last week, this is something that is just still irks me for this person. Somebody who called in, spoke, but he said he hated realtors. We're not able to kind of meet with him and go through the whole process. But he said he hated realtors and work with it. Long story short, before we could work with him. And I think he listened to the show before he could work with him, is that he ended up listing with a flat fee online, meaning you basically represent yourself, the MLS, where you came in.
We fall back up. He said, look, I got my household like, oh, man, what do you sell for? He got five hundred and twenty thousand dollars. And the problem was whenever we got Jeremy, my team did a full market analysis. He valued at six hundred and ten thousand dollars all day, every day can sell within days. And so he left ninety thousand dollars on the table because he was trying to save three percent.
Right. Ninety thousand, I'd say. Well, that's something that still keeps me up at night thinking about it. You better believe that he does too. And so don't be the right reach out to us. Use an expert in this same thing I see happen over and over with agents. Right. Agents don't have the data. They give you a number. They just kind of make it up and guess. And next it sells in a few hours and you could have got twenty thousand dollars more.
Don't make that mistake with largest asset. Anyone you know haven't called me for three eight.
So yes or no pay for three eight eight four three eight zero eight. Recap everything that we talked about here today. Yes, sir. Thank you guys for realization that we're having to pay these.