Myrtle Beach Real Estate Radio Show With Blake Sloan 09-18-20
Blake Sloan Hosts His Weekly Radio Show On WRNN 99.5 FM Hot Talk Radio.
This Weeks Topics Are: The Myrtle Beach Real Estate Market Stats, 2020 Home Buyer Preference, And Inventory Shortage Of Homes For Sale! Team Success Stories!
Radio Show Virtual Transcription Below:
It's the export of debt and real estate with like a real estate agent, not only on the grounds around the world, but in Forbes magazine, The Wall Street Journal, NBC and other publications and the real estate show coming up in just a second. Here's the thing, though. So much information over the next three months you're going to want to get get in touch with this. Well, that's easy to do. All of it is a real thing for three eight eight four three eight zero eight so that you can go online to Sloan Dotcom Dotcom.
We will give you that contact information several times that we can go and get the show started. Good morning, everyone.
Got an awesome, awesome show. Tons great information back in town. Story of a plane from California last week. A mass last week show was out there with my coach. And it's very interesting to learn about how we're going to finish this year strong, how to make adjustments, this new economy. And so a lot of great. So we'll talk a little about that on the show. Well, there are twenty seventh audition. Twenty seven straight weeks of doing this in the Korona chaos and Croner craziness.
And so we still keep the pedal to the metal. A lot of great stuff we'll talk about today. The biggest news is the micro market that is in. So what's happening in my zip code? What's going on the market and it's interesting, there's all over the place based on what you're at, the beach you're in and how far inland you are. And so we'll look at how those numbers stack up, how does your neighborhood stack up against everyone else.
And so I will also go over the macro numbers for anyone that missed last week's show. A lot of great information there. And your thing, the marketplace is still on fire. And so we've been tracking daily and it's definitely still smoking hot. And really, our growing share market is in a perfect storm. We're seeing it. We'll talk with this a little bit today is we're seeing a lot of people, mass exodus from metropolitan cities, mass exodus from states that have high taxes, high regulations.
And guess what? They're really, truly coming here. And we've seen a lot of people lately to either retiring early or they thought they were they were going to come down three or five years from now and they're coming until town now. And so we're in a huge crisis right now. The crisis where we mention a few weeks ago as an inventory crisis, super low in inventory. We'll talk about that as well. The other thing, too, is, like I said, just you're seeing a lot of high end properties move.
Was that well, that's just because a lot of the inventory has been dried up on the lower end prices. We also hit record lows and interest rates in the past week or so. They're holding pretty steady, which is pretty good. And that's one thing that we have some amazing, amazing success stories to. Our team is been smashing it the past two weeks in a row, over twenty plus properties sold just this week. And so we'll talk about that and kind of what's going on.
But really, just give us some information today on how to best position yourself to make sure you can maximize your equity and also may want to make some decisions based on what happens going forward with the election. I'll talk about one of the questions all the time is people think oil prices are going to drop because people in foreclosure and people were in forbearance. Here's the thing. We have seen anything that indicates that here at all. We get so many people asking that.
And the reality is we're unique because everyone's moving here from outside the area. And so what that does, that makes up what's going on. Inventory so short. If anyone is in a pinch, they can fill up quickly for a lot of money, usually a lot more than they want. So we'll talk about that in the show as well. Getting that question a lot, both in public and business will help address that for anyone that's wondering as well, obviously.
But you're just going to maybe for the first time and don't know what is called the Real Estate Institute or Forbes magazine, Wall Street Journal or magazine and other national publications debuts on TV with NBC, Fox and Friends Morning Show. I personally endorsed by Sean Hannity like that. There is a lot more often than others very close right here on this very radio station put together. And it is unprecedented. Every week we hear a little bit more about the free market system has home sellers at home buyers.
Thank you. Get all the details on those because, well, it's very hard to give away all the trade secrets, but he's more than happy to tell you the most important part of that system. Yes.
And this is my my life behind the show. My life behind what we do every single day is really more important than ever right now because of the pace of the real estate market. And so it comes down to one thing. The single most important variable that determines your failure or success as a home seller really comes down to one thing, one thing only. That thing is the agent you choose, period. That's it. I was that well in selling properties under 18 different variables from if each one's handled correctly, guess what that does.
Plus one of your pocket property. So if anything's handled incorrectly, a.k.a. they dropped the ball somewhere, some point that cost you money and of course your hard earned equity. And so that could be anything from the quality of the photos, the order of the photos. Does the agent answer the telephone when a buyer calls that for sale sign? Does the agent respond to a Web lead, a Web inquiry? And if they do respond, how long does it take them to respond all the way down to negotiation strategies, all of the aspects?
And so those are things that make or break you in the home sale. And so. What you find is most agents are just doing the three PS one, they promise the world get listing from you two, they put it into the MLS, and three, they pray that someone else brings a buyer. Meanwhile, they're down at your neighbor's house trying to get their house and lose their house just to survive the business. How do I know that?
Because I grew up in the business. I've seen that over and over and over. And so the reality is that does not work anymore. That's why you see so much frustration and so many homeowners right now, they're leaving money on the table. And so what's what makes us different is first thing we did is we identified every single variable and create a system that's proven repeatable, that creates maximum leverage for our clients. And so we create point one.
We have zero point one, point two point three. We line up those dominoes and we create a small gap at point one, a small gap, point two. And so you stack those up. It creates a massive competitive advantage for our clients and that systems called the guaranteed solar system, the only proven system is almost twice as fast and for up to 20 percent more money than traditional methods. And it works very, very, very well. Right.
We really kind of relate that to a marathon. Everyone takes off at a marathon at the starting line here, shotgunned start. Everyone starts running. Everyone looks like they're close together until you give it a little time to spread out. And what you find is some finish two and three hours ahead of other people and some do not finish at all. That's the same exact thing that we do with the marathon of your home sale. And so the reality is you definitely don't want someone who's not experienced in running those marathons.
And so, well, us we sell hundreds and hundreds of homes and negotiate thousands of deals and really perfected this system here that allows us to give clients huge competitive ranges. So, again, I designed it. We licensed to other agents, other parts of the country, but it's exclusive to us, will not find that anywhere else. And so on the flip side, the buyers. Right, there's one hundred plus variables. When you're buying that make or break your home purchase saves you money.
Does it cost you money? Do you lose out in the home that you want? So we create a system there, the same exact process. It's called the unfair being shown by TISM gives you priority access to foreclosures, distressed sales, desperate sellers, the absolute best negotiation and purchase price, and all the way through the home inspection to the closing table. And so most, you don't realize, are so many nuances and ins and outs when you're purchasing these things that you want to have somebody with a system that's proven repeatable to make sure every single variable is manageable.
Here's the reality. One single person can't do it. Not possible. So there's going to be something dropped in some place that there's not a system and a team of people to help them do that. So if you want to know more about that, reach out to us. Reach out to my office. Eight, four, three, eight. Okay, so but you owe it to yourself not to make that huge mistake. All right.
Sounds good. We're just excited about the show, just like market numbers. What's happening in your very zip code? Also, we'll look at what the interest rates are looking like. Good for the down. Very important stuff coming your way. We're just getting started on the show. We'd like to get in touch with love. You can call them. It is on the phone. Realty group phone number is eight for three weeks old, eight for three.
Anyway, so we're going to play slow down. Slow down, Dotcom, if you were in the market to make the most money of your home. Sean Hannity here with some important advice. I love coming back to the properties. And one of the lessons I learned is that those had three in this market. There's only one thing that I needed to sell my home services to attract hundreds of buyers on average every home for the most money possible. If your home doesn't sell for the price that you agree to, people have a responsibility to know that what you demand your home right hand man home today and be home with a poll or online comments, high shopping marketing strategy online.
I love this information so much that it would be too late for my partner with my go online or get your home sold like this.
We are going to come up with a way look like this week. It's always a work number. Find out about the place. Got all the numbers right now. Give me an update on what the market.
Yes, the market's crazy. You know, it's like there's so many pieces to look at. It's like, what clothes? Right. We have last month's numbers. If you look at our in September now, if you look at August numbers, they really happened in June. A lot, right, because it's 30, 40, sometimes 60 days before these deals closed. And so you will look at different aspects. We really advise our clients in three main places, really look at what's happening real time, a.k.a. how many are going to contract each week of volume in your area.
You look at the close sales, which shows you kind of what's happening price wise. It's kind of your your rearview mirror type look, but you want to look as real as you can. You look at the micro market, so I'll touch it all for you a quick for everyone to see. So if you look at one of the most important numbers we've been tracking since covid-19 started was new properties under contract each week, because that gives us a gauge of everything with the initial lockdown down.
It's like everything just stopped. The time stopped and people stopped and everything stopped. And we went to basically we're having three and four hundred properties a week that we want to contract, which is still pretty decent. Right. And that was also when interest rates are super low, then it bumped up to five hundred and six hundred over the past month, about August, we were hovering about eight hundred properties. We had two weeks there, whereas like eight hundred twenty, twenty five going under contract each week.
We were at two hundred, ten million. So we passed Labor Day. Things slow down a little bit. The good news is the real estate market is still smokin hot. My team not track this metric every single day. We were mourning huddle at Nottingham. We got this number together. So we say, look, what's the polls right now? What are buyers doing? What are sellers doing? So just like the previous seven days right now.
Seven hundred and eighty properties under the contract for one hundred ninety nine million six hundred seventy six thousand and fifty six dollars. So what's that mean? There's still a ton of people coming in town right now, buying a lot of properties. Still people in town right now buying a lot of property right now. For example, last week, North Ocean Boulevard, Myrtle Beach, two point one four seven million under contract, another one point nine million Myrtle Beach under contract.
And so there's a lot of stuff you're seeing happen all over, which is great news for us. Now, we talked a little bit about the challenge with inventory. And so what that tells me is like we're going to see that window probably closed a little bit. One more season on Marketplace, too. There's some uncertainty going forward, actually, things like that. And so you want to make sure that you're able to capitalize while people are buying right now, you know, record low interest rates, the all time low interest rates have kept things moving through this process.
And we're in a perfect storm in the Myrtle Beach area because people are escaping with Rat to come here. And so we see it every day. We close multiple properties last week who people had never, ever even seen the property before. There's one closing today that just happened that basically never seen it before with Brandon. Our team even closed virtually. And they did the the video virtually. And so that just shows you kind of what's going on, what type of pain is out there up north.
So we'll quick recap for anyone that missed last week's show of like, hey, what's going on and how many properties closed last month and close deals. Look at close deals, still smoking hot on the resale homes, which is what the majority of the marketplace is. Right. Single family homes that are resale sales up ten point five percent from the same month last year, which is also, if you look at August last year, five hundred sixty one homes sold August this year.
Six hundred twenty homes sold up ten point five percent, which is awesome, because what's happening there is what's really a challenge is inventory. Inventory is the lowest I've ever seen it since it's been tracked right now, three point zero months of inventory, a forty three point four percent decrease from the same month last year, which is just insane. And so basically half the properties available and you're seeing ten percent increase in the amount of sales. Guess what that puts pressure on?
That puts pressure on price. And so that's what we've seen really been going crazy month after month. Right now, the median price for our area, two hundred seventy thousand dollars of fourteen point nine percent from just August last year, which is great. The average sale price, three hundred thirty five thousand four ninety three dollars, which is also a thirteen point one percent, down slightly just a little bit from July. So July was three thirty eight and August three.
Thirty five a lot. It has to do with just inventory what's selling and where. And that's just overall, which is something. And one thing to look at too, we've been tracking real times how many showings this past month per listing? It's up 20 percent. And so that means you're twenty percent more buyers looking right now than there was the same month last year. And so guess what that means? There are still people buying, which goes back to the first metric I shared, which is how many properties under contract each week.
And so if you're thinking about selling, you want to hit the window, right? Don't wait till more chaos comes. I think everyone's going to predict is going to be chaos after the election. Either way, obviously, how big that's going to affect things. But it is something you may want to think about as people are still moving here like crazy. And so that's been great news. Overall, condo sales pretty much been very similar. Real quick, I'll give you new construction, new construction, close sales of seventeen point two percent last month, which is awesome news overall.
As you see, people are buying as fast as they can build them in most cases. Ever see a price for new construction at four point nine percent last month at two thirty five zero six seven. And so that's doing very, very well. And supply of new construction homes down. Thirty three point nine percent, that's the biggest metric that I've seen in both new homes and resale homes, is the amount of inventory. So literally something I never seen before here since I got in the business, probably two thousand five is that there is just nothing available to sell.
Right. And so we're trying to find it. We're selling stuff within minutes and within hours to buyers that we already have in many cases. And so that's what we're seeing, multiple offers driving properties up the price of property up, which is great. So very helpful for a homestead out there in the condos. Really quick, if your condos close sales last month of seven point seven percent. Great news. I mean, huge, John, if you look back and say May is 303 this last month.
Six hundred and fifteen condos close. It's recovered very, very, very well. Remember, it's a kind of a hit during the lockdown because people could not access condos to even look at them. And so great news, their average sale price last month of thirteen point one percent, one hundred and ninety thousand seventy two dollars, which is great news, median price of eight point three percent at one fifty seven. And the same thing there. You're seeing showings stay pretty steady on those as well.
And so what's that mean? The market is still super, super hot, if you want really quick. And we'll dig into the micro market numbers, just some key areas and a lot of people. This is the one question I get, but I do have to fly through it. So just bear with us on this because everyone wants to know the one thing like, hey, what's my area do and what's happening? It kind of tells you what's hot, what's not in certain areas.
Like, for example, we'll start Myrtle Beach two four seven two two, not five seventy seven zip code sales last month, up twenty four point seven percent. Huge jump, right. Minus your price last month at one point seven percent. Right now, Myrtle Beach median price is three hundred forty thousand dollars. And that aspect, which is are getting on average right now ninety seven point six percent, which is huge. The amount of inventory for sale in Myrtle Beach down twenty eight point five percent.
And so you can see what's driving price up there. And really, one of the biggest limitation we're seeing lately is just the ability to to be able to appraise. Right. And so that's something that's been going on, been challenged. You've been able to fight that pretty good to make sure we give our clients top dollar. Condo sales last month were down in the city, Myrtle Beach down eight point one percent from one ninety eight to one. Eighty two prices, though, up from one forty to one fifty three five, a nine point six percent increase, which is awesome news there for condos and overall beach sales actually down last month, 10 percent went from sixteen on a fifty four.
That's do with one challenge inventory inventory probably still forty point one percent. And this is kind of example here. So last year it in August in twenty nineteen there are three hundred forty two homes for sale and overall beach two five to zip code this year, only two hundred and five. And so you can see the challenge there. The good news is the sales are holding pretty steady. And so what you're seeing that do is drive price up. Price was up eleven point two percent last month alone in order to sell a lot of stuff in Myrtle Beach lately.
There still is a lot of value there. People like it in golf carts of the beach pretty much anywhere around. And so that's a great opportunity for anyone selling because buyers, we like that. You said up to three ninety seven. Five hundred from three fifty seven, which is great, great news. Condo sales will be up thirty one point eight percent. Huge jump there from one thirty two to one seventy four. Median sales price of three point three percent last month alone to nineteen twenty five.
So doing great there in Newport Beach, obviously into a little river sales, up seventeen point five percent last month. Great news there. Prices actually went down a little bit, seven point seven percent decrease. That just has to do with the different types of properties. You're seeing a lot of stuff move into little river law development, things like that. And so you don't want to dig into your neighborhood because you're still seeing prices as a whole continue to climb up.
That's just kind of what's sold in those six, seven houses there. The one thing that you're looking at is take a little bit longer to sell in La River. Twelve percent increase from one twenty seven days on market to one forty three. So if you're a little we were thinking about selling, make sure you have a good agent in that area. Our days on market are super, super low because we're selling those super quick, which has been great in a surf's up Surfside Beach.
Check this out. Sales up fifty eight percent last month. The survey side, that's where I grew up. My mom still lives there. Close sales are from fifty up to seventy nine in one single month, which is awesome. Prices last month up two point eight percent from two thirty to five hundred to thirty eight nine fifty six. The amount of inventory in Surfside down thirty one point one percent. That's another spot hot spot. Meaning that we need in.
Right. We've got properties under contract in Surfside right now. We sold within a matter of days. If you're thinking about selling that area, reach out to us. We have buyers and sellers have also buyers in Gaza demurrals in the tune of five, seven, six close deals last month, up nine percent, which is awesome price last month of eleven point eight percent. So from two ninety three twenty four. What we're finding is a lot of these homeowners have way, way more equity than they think that we're getting.
We're seeing again, it's been a long time since I've experienced this, but people say, look, you know, I probably want two hundred thousand for my house. We do the cops a lot. We can probably get you to twenty two. Thirty for your house and we're actually getting it, and so definitely don't leave on the table even right now, like, I wouldn't necessarily trust a lot of the online evaluations because the data is moving so quick.
And what you're finding is bars are really pay more than is sometimes showing in the arrears numbers. Right. And so you want to know more about that delicate human valuation? My team and I are here to help you all day, every day to do so with that. So inventory in Garden City rules in that guess what? The same exact problem, their inventories down thirty seven point eight percent. So if I'm four hundred twenty one down to two sixty two, you can see my problem.
Right. We need more properties yourself in a show of force. One of the hottest areas on the beach right now. Sales last month, the Carolina force of fifty point six percent. So check us out in August 2013. There are seventy seven sales August twenty twenty one hundred and sixteen sales. So you can see the difference there, which is also price for the year is up three point nine percent from 2003 to 2005, which is great. The other challenge in coming for us is inventory also down down twenty four point seven percent.
So last year, three or eighty five houses for sale this year, two hundred ninety properties for sale, even though sales were up 50 percent. And so you can see once again, that's putting pressure on price. Sakti sales almost identical, which is crazy to point one percent. Ninety seven sales last year, nine on sales this year. In that month, the good news is year to date, sales and socks up at eleven point six percent.
Check this out. This is one of the biggest jumps we saw in median sale price last month alone. Stock prices jumped up twenty point six percent, which is huge. So, for example, August last year, two hundred fifteen thousand. This year, two hundred sixty thousand. If you're in stocks, you got a lot more equity than you think you do in most cases. So definitely reach out to us. You want to find out? We were probably under contract for my clients named Ginger and Socks.
You right now, Greathouse Inventory down twenty six point one percent. Same problem we're seeing in every single zip code is we need more property for sale, down twenty six point one percent almost done here. Cosway close deals last month, down six point four percent. What calls that inventory inventory is down thirty point six percent. Overall, the great news is price is still up. Prices went from one eighty nine to one ninety six to a three point two percent increase in Nepali's.
And Paul is on Leitchfield. Check us out. Clothes sales and Paul Leitchville last month up twenty six point three percent. And that's been huge for us. We saw a lot there lately. Median sales price of nine point seven percent. Broca four thousand range, one of the most valuable areas on the beach. Obviously price with the three sixty six five to four hundred two thousand one twenty two, which is great news. You're also seeing the same challenge applies to Leitchfield inventory down twenty nine point three percent from two seventy three to one ninety three last couple of months year long.
Dolores sales last month up four point three percent, median sales price up 11 percent and into einer close sales went from four sales to ten sales total 180 percent jump. But just not enough data there to make that make sense. Right. The one thing there are you're seeing a few more houses in the market, but the best thing looking at year to date. So year to date, price is pretty, even looking at two hundred twenty seven thousand, just not a whole lot.
We're still selling. We got a horse property in aigner right now that we just got on acreage. So long story short, the market is super hot. If you notice two main things. Sales are up, inventory is down, which is putting pressure on prices. So I've not seen a better term. No, you hear me say this very few weeks, but it just keeps getting crazier and crazier in regards to the amount of property for sale, just simply because there's a mass exodus from other places all time.
Low interest rates, if you want to know more, are the one thing to take away from the show is that you probably have a lot more equity, you think, and you probably have more equity than the online evaluation to sell. You reach out to a true professional who can tell you exactly how much we've seen.
Some people call himself ten, fifteen, twenty thousand dollars right now, but underestimating the amount of properties on the market and the amount of buyers in the market right now to do that, we're going to do we've got some interest.
Yes. About, say, interest rates is one thing that's just driving that they jumped a little bit up since last last week show. So last week's show was at two point eighty five. We were very, very close to an all time low of two point eighty one. But we're still at three right now, 30 year fixed rate, three point zero two percent, a fifteen year fixed rate right now, two point five three percent. A thirty year FHA loan, two point three eight percent.
That's one of the biggest values right now for anyone, is that you can own three percent down and you're literally owning your own property for much less. You can rent four because rates are so low. A jumbo loan right now, three point five zero percent and a five year adjustable rate mortgage is two point seven nine percent. And the bottom line is why? I think so. And so if you look back, your rates were particularly higher, like four or five percent not long ago.
There's just so much more affordability right now. Basically, somebody who could afford a hundred thousand a house a few years back and now for about one hundred sixty six thousand, our house of the same money. And that's why you're seeing people move and make those moves. And so you wanna know more about that, take advantage on the buy side. Why raise your superior? Below, our prices continue to climb on the seller side, take advantage and strike while the iron is hot.
You know more about that. Reach out. Call me eight, four, three, eight.
Wait, so you want to take a little break here right now when we get back to work? We've also got some success stories where we have time for you to play some on this group.
I think we're three eight away, so we're probably short on time right where we want that.
MacroMarkets is hard to get through it and won the award for Song of the Year. You have a have of bars and one success story at nine. All right, up. This is perfect. Well, we can cancel out that last commercial if you want.
There's only one way I look at our level. Allison Blake is so confident I would rather do that quickly and some more money that you can use to sell it or you buy and sell if you're moving on, trust Blake to provide the things like a stress free home sales. Or you can call make a little bit of real estate show that plagues so many people on his website right now. Fifty eight thousand six hundred and ninety four people who have had to account for your home now in the area.
Yes. I said real quick, we're asking the average agent 100 to one. From marketing standpoint, we need your property. And so real quick, got one minute left are really cool. Success story to wait. Your reason received a job transfer to Florida and only two months we had to go. It was appalling to sell, but they needed top dollar. Here's the cool part. Thankfully, their son Jordan used us to sell his home. Joey, the other son purchased home through us, came to us.
We launched a global blitz. Fashion photos have massive traffic had to offer for 90 percent of asking price within the first week and a closing date that matches exactly what they need in Florida as well.
So how much time I got? OK, so real quick, Garrett, another example. We get a lot of these lately on investment property. Myrtle Beach, his tenant moved out. He said he no longer wanted to be a landlord. So basically, we need to sell things. We heard all the success stories on this radio station, reached out to us, called us. We came in is our coastal marketing plan. Watch our global market with special photos.
Here's a cool part in a virtual reality walk. Through the first few hours, we had three offers on Gary's property over asking price. Now we have to worry about any upkeep or investment property cashed out with maximum equity pockets. So if you want to be a part of that, have a smooth transaction. Don't cost yourself money. I gave the example last week. The guy who calls himself ninety thousand dollars, his name's Terry. I'll never forget Terry.
Terry calls himself ninety thousand dollars by not using us. And so the reality is, don't be a Terry ReachOut. Call me 843 A2A.
So yes, we are definitely need people for our team.
That's one thing that, again, we have mentioned with sixty thousand active buyers from all over the country and we're matching up buyers and sellers, probably the craziest time that we've seen in a very, very long time right now. And so if you're an eight player, if you like, given how little service, reach out and give us a call four three A2A.
So don't hesitate for three weeks. So the rewards are high, the work is intense. But yes, definitely really make a name for yourself. The Myrtle Beach area, if you're interested in eight for three weeks, we're whether you're looking for that, whether you're looking to buy, whether you're looking to sell. Thanks as always. Thank you. I'll be in here next week. Absolutely. I like that phone number for three feet away from downtown at the Export Advantage Real Estate show with Lazlo.