Myrtle Beach Real Estate Radio Show With Blake Sloan 09-25-20
This Week Blake Sloan Hosts His Weekly Radio Show On WRNN 99.5 FM Hot Talk Radio.
This Weeks Topics Are: The Weekly Home Sale Count That Went Under Contract. Success Stories, And Valuable Market Information!
Automated Transcription Of The Radio Show For Quick Reading.
Good morning, everyone. Got an awesome, awesome show. Tons of great stuff we'll talk about today. This is our twenty eighth straight edition during the covid-19 crisis current edition. And the real estate market still continues to thrive and do very well. We'll talk about what's going on in the brand new numbers for anybody that missed last week's show and also the real time numbers. Always looking at real time for how many properties can the contract the last seven days?
Huge, big time numbers mean the market still very, very hot, ironically, coming into after Labor Day. I mean, literally put into some of the same numbers. It was during July. And we'll talk about that kind of what's going on as well. So great news for everyone from the homeowner standpoint. Also, one thing interesting, we'll talk about a new national report out showing that homebuyer traffic is on the rise nationally, which obviously we can tell that from here.
But the key point we'll talk about is that it's expected to continue through twenty, twenty one. They kind of give some the numbers in there. But it's showing if you look at the national numbers, that bar traffic up 60 percent this year versus last year, which is crazy. And so we'll talk about that as well. Also, look at if we have time, the 20 20 homebuyer wish list. That's very, very important. You've seen buyer preference change this as you work remotely.
Now, there are a whole lot more now, and we'll talk about what that means as well and what they will talk about. You won't have time is talking about divorce situations and real estate. We've seen that come up a lot more lately, unfortunately, with covid-19. But we see there's a lot of problems with that. There's a lot of usually back and forth and anxiety and who who are going to use Agent Wise. And there's a lot of mistrust sometimes on if that agent should be helping them.
And this is something that we create a model that works very, very, very well to create Win-Win for both and something that I feel that we're very, very good at. We'll talk about that is a recent experience and success stories with that as well. As usual, perfect storm right now with everyone moving from the Northeast, escaping these urban areas. And we're suburban type areas and even stage lower cost of living. We're seeing that like crazy. You were talking last night someone about how many homes we saw recently, virtually without them even seeing it, literally having a meal the keys away before they come down.
As usual, some amazing, amazing success stories. Our team has been absolutely crushing in the past week with 20 properties under contract last week alone. And so we're still here pushing all the way to the finish line this year for sure.
Sounds good. We're just getting started. Got a long way to go in the very first time. It is known as the only real estate here along the Forbes magazine, Wall Street Journal, Real Time magazine and other national publications. You heard the personal endorsements here on this very radio station from Glenn Beck. There is a lot more maybe see them on TV, with NBC and also with Fox and Friends who put them all together, just unprecedented in the world of real estate.
Now, last week we learned a little bit and every week about the free market systems that we has for all of this. Home buyers and sellers can't reveal all of those on the air. But more than happy to tell you about the most important part of that system.
Yes, this is so, so important right now with the market being hot and kind of the pace that everything's moving, both with sales and also price. And so it really comes down to what determines your success or failure as a home sales right in the single most important variable 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. Right. You make this huge mistake of thinking that all will stay the same.
It could not be further than the truth. And so why is that? Well, in selling a property on an 18 different variables from A to Z, each one correctly, guess what that does? Puts money, your pocket, property ghiorso, anything incorrectly, a.k.a. they drop the ball that cost your hard earned equity. That could be anything from the help you price it, right. Again, we're seeing people right now who aren't selling a lot of homes, helping the client pick strategy.
And guess what? The underpricing we saw recently someone with a basically a friend who would listen at a supercheap rate of almost eighteen thousand dollars on the table, just pricing it too low because they weren't really familiar with the pace of the market. Right. Now, on top of that, many things like the quality photos or the photos in the right order, does your agent answer the telephone when a buyer calls out for sale sign or that Internet lead?
Now, if they submit Internet lead, how long does it take them to follow that bahle? Because it's. To long, guess what, they don't answer or they found something else, and so there's so many variables that make or break their home, so they have to manage. A problem with that is the old school business model is you have one single agent trying to juggle all the balls. It's just not possible to do that. And so what you find is most agents do the three P's when they promise we'll get listening to they put it to email us in three days, pray that someone else brings a buyer.
Meanwhile, they're down the street knocking on your neighbors door, trying to get their home as a listing. And so the problem is they just get stuck in the Middle East and just hope someone brings a bar. So what we did differently is, first of all, we create a system that's proven repeatable, that basically broke down every single those variables and creates a system that creates leverage every single point. So point one is like a domino point to like a diamond.
You stack those dominoes up. What it does is it creates a massive gap between you and basically your competition. So that gives our client a huge competitive edge. So the system doesn't called the guaranteed told system the only proven system. So it's twice as fast and for up to 20 percent more money than traditional methods. And it works very, very, very well. I designed it. We license all the other parts of the country and exclusive to us here.
And so that's a huge advantage for home sellers. Now, on the flip side, it's the same exact thing for homebuyers, right? What determines your success or failure is the agent you choose and how the that process basically they're the opposite variables. Right, because you're on the flip side of the equation there. And we create a system. They're called the unfair advantage. Home buying system gets priority access to foreclosures, distressed sales, desperate sellers, the absolute best negotiation in purchase price all the way down through home inspection to the closing table.
And so the reality is, when you're dealing with most people, one of the largest assets who use matters, I can't tell you how important. And I see this over and over. Perhaps we use a friend who does it part time or a friend who claims to do a lot and you look them up. They only sold five or six houses on the past four months. The marketplace right now is so much faster than that. You got to be able to adapt real time and know what's going on.
So if you think about buying or selling, obviously you listen for a while. I'll reach out to us and take a look at our system. Anybody we show it to absolutely blows your mind. We show to agents who been the business from other areas ten, fifteen years in the business. It absolutely blows your mind to have as anything like it. So if you wanted more, reach out. Give us a call, a four three eight. Oh, wait.
So the only way to get that information is on the day for three days to wait solely for three weeks. So don't have an update on what's happening in the real estate market right now in this area. And also look at some of the most important numbers that you're going to be hearing throughout the entire weekend. Mortgage rates, interest rates as in just a and get a sense of belonging to that aforementioned phone number eight four three eight eight four three eight zero eight as well.
They go online to Slome Dotcom. If you are in the market to make the most of your home, I have bought and sold a lot of properties in more moderate markets. And one of the lessons I have learned is this a agent that knows how to create the most demand for your home. I need you to create demand in this market. No question. There's only one real estate agent I trust if I needed to sell my home. I'm talking about all the services, the entire Myrtle Beach area of the buyers.
Every week it sells a home on average every twenty four hours to get a hold of themselves. The price that you are free to have cash will be right here in the Great Lakes today and being sold, the state will be sold online at place. Hi. I'm looking to sell those things to me online. Grillings from their own money on the line here. I would hire someone to find my go online and home.
So this is for the advantage real estate show with Lakes one coming up in just minutes. At the most important numbers you going to hear all weekend long, what are the interest rates looking like right now? And have it for you and your home buying right now to find out what's happening as far as other numbers. And, yes, real estate update.
What's crazy crazy out there right now? If we have two types of numbers, we have like the real time numbers that we've really got dialed in during covid-19 to see what's happening right now. How many buyers are in town, how many are buying, what's happening? We were we started doing that when the shutdown started because I went from, like, super fast to nothing. And so we really kind of switch it up. If you look at the overall market numbers we talk about each month, those are homes that sold in arrears.
And so what you find is, let's say that homes close. This market probably went under contract 30 to 60 days ago. Usually right now there's financing about forty five to sixty days. And so what you see there is that really tells us what happened. Month two months ago and said, oh, look at two things, one, how many properties under contract last seven days? That's what I have my finger on, the pulse of how many buyers are on sale and buying right now, how he helped you strategy for our clients.
And so here's the deal in following during the overall crisis have about 600, 700 properties. We going to contract all the way down to like five hundred one time as one for went back up has been hovering in between six and seven hundred. And the peak we hit last month, it did get up in the eight hundreds. Right. So that's how many properties in our entire MLS that were under contract the previous seven days. And so right now we just broke it from the last seven days.
Eight hundred and one properties under contract, two hundred twenty three million six hundred sixty four thousand five hundred and sixty dollars. Huge numbers. Anything over two hundred dollars, two hundred million on a contract has been huge. And so that's one thing that we were seeing. That's a big number that there's a lot of people buying right now. And so we have 12 properties right here, over a million dollars that's going to contract, plus tons and tons of other ones you're seeing right now.
The past seven days, the median price is or twenty eight thousand nine hundred average sale price, two hundred seventy nine to thirty one. So what that means is markets still super, super hot, surprisingly very hot. There is going to be some types of uncertainty between buyers and people I've talked to here and across the country with elections and obviously winter and the flu season along with Koban. So there's no telling what's happened. We're seeing a lot of people still make these moves.
So if you're home, are you still want to take that jump with that advantage? What things are at the peak? Right. You always want to strike while the iron is hot. It's uncertain what's going to happen post-election, even into the winter, especially this market. And so we also got to take into account interest rates. So that's key number. They're real time if look at last month's numbers. So you kind of get a gauge of what's happening or prices, things like that.
Last month, sales were up eleven point one percent for resale single family homes, which is great overall news there. So that's one thing that we're seeing that's really good into sales price, which is the other part of that sales price, up fourteen point nine percent last month for median price, which is awesome, two hundred seventy thousand for that, which is great, even if your price was up thirteen point one percent at three thirty five five twenty one.
And so it's crazy. If you look at back in January, twenty eighteen, the average price was two hundred forty four thousand. Now we're up to three thirty five. That's a lot of extra equity that people have right now that don't realize. I was reading an article last night actually about just talks about how so many home sellers, even if they're distressed right now, have so many more options. They did previously because the market's so hot, right?
They have more equity, more homeowners have equity. They did before. And so that's something you want to take into account. But the one mistake I'm seeing right now with most people, their houses in the market is they're usually under pricing in some cases or overpriced and some. But what you're seeing is if you have an agent who only sells about four homes near the average or MLS is about four homes a year. And so the reality is they're not really understanding of how fast things are going to looking at data from two or three months ago, you're not making the best decision for real time right now.
And so that's what if you do make that decision, you want to look at real time data, plus obviously the trend that was happening before. So one thing driving all this is inventory. Inventory has been crisis level low. Right now it's down forty one point five percent from the same month last year, which is huge. So you got sales up double digits and you got inventory down forty one point five percent. You can see well, that puts pressure at that puts pressure on price.
And so that's one thing. We're seeing a lot of appraisal challenges right now, which we've been able to help combat pretty well for our clients and negotiate pretty well. It also what you're seeing that's driving, that is just overall buyer traffic. So our traffic this past month was up 20 percent from the same month last year, which is obviously why you're seeing sales up close to that. And so that's for single family home sales into Kardos Caldari sales are great news of seven point nine percent last month versus same month last year.
Six hundred sixteen candles sold into sales price, median sales price of eight point three percent last month at one fifty seven even, and the average sale price up thirteen point two percent at one hundred ninety thousand. You're also seeing a similar challenge with condos. Guess what? Also less inventory, down six percent from the same month last year at four point seven months. So what does that mean? We're seeing a lot of lot of traffic. I mentioned before that perfect storm.
Interest rates been hovering around all time lows. We have obviously, the overnight teen crisis is driving a lot of people from up out of northern states. We've had a lot of people take early retirement or work remotely making the move earlier than they expected based on their frustration with government, also based on fear of covid-19 in more densely populated areas. And so that's something to watch out for yourself and take advantage of that. Again, you want to strike while the iron is hot?
Not sure how long that will sustain itself. So far, so good. We're pretty well insulated here because there's just so many out-of-state buyers there. So coming one thing driving that, like I mentioned, is interest rate were the same. Exact interest rate it was on last week's show, literally, so last week's show for 30 year fixed rate, three point zero two percent right now, guess what, three point zero two percent. That was reading an article this week that they kind of called it mortgage rates in drift mode.
And so that's kind of what we saw this past week. We're looking back and forth, up and down. It's still super, super cheap, which is why you're seeing so many people lock in right now, make moves, 15 year fixed rate right now, two point six four percent, a 30 year FHA loan, two point three eight percent. And that's a huge, huge opportunity right now. I'd say the past few weeks, the first time buyers would get in three percent down and they can own for so much less they can rent for and don't even realize it.
Most cases a jumbo loan, three point three seven percent and a five year adjustable rate mortgage, two point seventy five percent. So that's one thing. If you have a friend, Denenberg, that's ruining that that was thinking about owning that they can get in with such a low interest rate. Now for FHA loans, three percent down. A lot of times they can ask for closing calls back. We have some people on our team that specialize in that and we're happy to help them out.
So anyone, you know there, how to reach out to us, of course, as well. Bottom line is, things are smoking. Eight hundred and one properties under contract in the last seven days. Two hundred twenty three million. And that's a big time number. So if you're a seller, you're listening and you've been listening for a while and you haven't called me yet. Reach out. Give us a call. 843 attaway.
So that's the easy way to do it. Or three, Natalicio or three anyway. So don't go anywhere. Coming up in just a moment, we'll have all the success stories and maybe a couple of stories as well. Here's the thing I always remember. If you want to be a success story, you don't want to be a story. How can you do that with eight or three weeks old, eight four three eight zero eight as well? The important things like how we look at our time.
When I was that, I won the award for HCF Song of the Year, they were pretty good research to say we got like ten minutes left. OK, well, we got plans to talk about. Thank you. When it comes time to sell the home that you're losing on, your real estate agent will be selling your home and stress free agent out of pocket. That's what I can tell you.
That won't really work at your time on a whole different level. Allison Blake is so confident in his ability to sell your home and the more money you can use to buy and sell if you're moving on, trust Blake to provide your family a stress free home sales by Blake Sloan online and Blake, slow dot com or you can call wait for three weeks. So start and.
So a lot to show we get to this one, but, you know, here on the export advantage, real estate shows like Sloane fliers alert Blake and his team working with just a ridiculous amount of homebuyers looking for homes in the Myrtle Beach area, anywhere from one hundred fifty thousand to three point five million. It's pretty big range for you, is that right? And you're thinking of selling these contact in the same phone number we were telling you about eight four three eight eight.
Oh, that's cool. How many people are out there looking for the mortgage area has already told you about the fact that there's such a limited amount of inventory out there, but there are so many people looking for homes on his website right now. Fifty eight thousand seven thirty five. That's the number I wrote down right before the show started. And that's where we are right now. Like, those are active homebuyers. People are looking maybe every hour of every day or every week.
They're looking constantly.
Yes, there are thousands of people right now searching like they mentioned. These are username, password, account people. These aren't like, you know, just 50000 hits. These are separate people with separate username passwords. And so if you remember back when the pandemic started, I was telling stories my night and I told I was scared out of my mind. But I said, look, here's the thing. I'm not pull my foot off the pedal during this whole thing.
I said basically that the market is hot and thank goodness that real estate has been so resilient through this. But on top of that, it's this massive problem where we have massive amounts of buyers, but inventories at almost an all time low at a crisis level low right now. And so we need properties. So and I get this question a lot, especially people that maybe listen to the show and they call us and they call a friend or whatever it is a hey, look what makes you different.
The one thing makes us different is probably this part right here is I outspend the average agent one hundred to one for marketing. So I'm sure you see a lot around town on the billboard years on radio, see us on TV. But what you don't see, a lot of times we spend massive, massive amounts of money driving traffic online and we get buyers from all over the country. And so on top of that, a few years ago, that created another problem where we had all these buyers, all these sellers.
And what we did is we helped create an algorithm that takes any new listing we get and we reverse engineer. That listing gets all the fifty eight thousand buyers we find the most likely buyer for that property based on their previous search pattern. So it's almost like Facebook and you like it said the word about something a day ago about, let's say a blender also in a blender shows up on your street. Right. It's very similar to that word just calculates based on what they've been doing, who it is, where our team of salespeople do you know, twenty basically experts tell out there on the phones all day everyday talking to buyers.
They're matching them up with that property. And so before you ever pick up and call the phone to call us, we've already been marketing for buyers because I'm outstripping the average agent to one. And so the reality there, though, is that what happens is we more inventory. And so right now we have Deborah Rogers. She's on the site. She's been here one hundred thirty visits with one hundred seventy properties. She's from Lexington, Kentucky. And obviously she came from one of our massive paid advertisements online, Google paper, click all these things that we spent a tremendous amount of money on.
Robert Blackwelder, he's from Sanford, North Carolina. Eight visits, looked at. Ninety two properties we have had from Cherry Hill, Maryland. I got Ron R.H. Ironi just from Charlotte, North Carolina. I got Amy from Wilmington and from all over the place. I got a lot of I got Albany, New York here on my right here, Jersey City. I can't say his last name single, but long story short, tons of people. And so we did have our share this because it's important.
Like we talk about facts, right, with our clients, with everyone else. Like we just show you the buyers, like here's the buyers, here's they're searching in real time. You can watch what they're looking at and we can match your house up to that. Why would it make any sense to do anything else? And so if you've been listening to this show for a while, you have called me reach out and call us when you see it.
It'll absolutely blow your mind. But Obama will be here. This is an attempt to reassert his forty one percent decrease in the amount of homes sold. On top of that, sales are up double digits. And so we need homes to sell and we're selling them within hours for a tremendous amount more money than a lot of home sellers have been wanting. And this is something that's not necessarily been used to for a while because I was obviously in the market before in 2005, then it went down after 2008.
And so there are so many times that sellers want to do much more than they can ever get. Now, what's happening is you're seeing hey, look, I want to get maybe one seventy on my look. We can get you one ninety nine. Two hundred. And so that's the conversations we're having right now. So whatever you do, don't leave money on the table. Reach out. Call us for sure to quick success stories. I guess going to.
I'm good. All right. So this is what led me to mention earlier. So recent example, had a great couple on the because situation, but they're going through a difficult divorce. They need to sell their high and home rules and they're beyond frustrated with each other. With the listing process. They use one of the spouses, friends, an average agent in the market for over six months, nothing of empty promises, more frustration and no, obviously no offers.
And so, thankfully, the wife heard all the success stories on this radio station. It was her turn to pick the agent. She reached out, called us. We came in, create a custom. Here's the thing, though, we raise the price because the challenge was marketing was marketed, I think that came in the marketplace, professional photos, virtual reality walk through and drone photography and video launched that program that first met with these people myself.
I had eight showings the first week, two offers, multiple offers, put it under contract, non-operative asking price with a cash offer close in less than a month. And so that's the reality of what happens here. And that was what made me think about this. I've been doing this for so long. And one of the things I notice any time I'm going through a divorce situation is there's this mistrust right at the husband. Take me. The wife doesn't trust me or the wife kick me the husband, vice versa, whatever that is.
And so, like I remember, I've been so good at identifying, hey, look, what do you guys want? Let's work on this together. Let's make it a win win, because if you win, I win. We all went right. And so just doing this for so long, we put such a amazing system together where the communication is great to both parties and we've been able to help get a lot of money in instances where people need that money.
Right. Looking to move on and start fresh and put as much money as you can. Don't leave an extra fifteen thousand dollars on the table. Don't just go with a friend who may just put it in MLS and let it sit there. And obviously you're not going to get your full equity that you earned in that situation. So if you know anybody going to Astrachan, here's the thing. Super discreet, very, very open to both. And I'm able to really, after doing this so long to a thousand negotiations and studying a lot of true psychology even, is that I'm able to make it work.
And if there's a very tense situation, I'm able to be the middleman there and make it work for both and be able to get on the same page because again, I don't win less. You win, and it makes us both go on the right path. And that's something I feel that we've got to create a great system in place that we've been able to help make sure everyone's happy. So if you know someone that situation, if you're in that situation, reach out to me, call me.
I'm more happy, chat with you about it. And I kind of show you what we've done before, a four three A2A. So another cool story here really quick, is that Kathy had her house in the work for six months, no offers, only had two showings. And basically she told us to do. I don't think those two buyers can afford it anyway, so I don't know. But the reality is she'd already bought another home. She does make it to payments.
Thankfully, she had all the amazing success stories on this radio station. She was also referred by a vendor to us. We came in immediately, identified her problem to marketing, design, customer plan. Los Lobos fashion photos of massive traffic had to under contract within two weeks. We just closed this week. I was really cool, though, and she did a video testimony for this on our Facebook page and check it out. But the cool thing she said, she goes, oh, my God, it is just like the radio says, you know, so I called it you guys came in, showed me what to do on a contract in two weeks because why is that?
Because we were proven repeatable system. If you don't leave, you're welcome to go to our Facebook page. The video there. She's a great testimonial, but I'm very, very thankful for her choosing us. Don't call somebody else first and obviously go through that part. So that's one thing that that's super cool as well. Really quick, another really cool story. We have to John, his wife. I want to move down to Myrtle Beach for years.
Unfortunately, wife was diagnosed with cancer three years ago, put their plans on hold a few months ago. She passed away right. For basically totally one dream. Come down here. So long story short, he came in, made the decision, reached out to us through our site online, helped him find a place virtually. And all of a sudden we got to close on his wife's anniversary. Now he's living their dream down here. It all that virtually threw covid-19.
And so a man on our team, he'll John. And so that's something that we're super proud of as well. And one last one, super superimportant is making our team up with some great clients, trying to start fresh cheeriness on Preston Base. You're going to rent. Here's the thing. After she show them as well, saw him earlier. Actually, the difference in what can own for and report, we got to sit on our VIP lenders got two point nine percent interest rate and basically you can own for much less.
They can rent for. And he's obviously talented. So we got our property. He came with twenty thousand dollars in equity and he can fix up a little more. So he's an acre property in Myrtle Beach. No way. And in ground pool. And this is a dude that was about to go rent somewhere. And so if you want to know more about that, reach out and call us for sure how much time we got. So one crazy.
I'm not sure there's I'm with you guys. This is from National Home Buyer Survey. It says, Home buyer traffic jumped in July at a record sixty point seven percent year over year increase nationwide. And it talks about the south is up forty six point seven percent year over year. And so what it talks about is that our economists predicted that home sales increased by eight to 12 percent next year. And there's strong evidence that he'll be he'll be right in that.
So more things to come, but don't wait too late until rates go up. If people get scared about for sure.
Yes. Our team looking to our winners, eight players, one of them working as googlies and obviously Blake's Thunderstone Realty Group and make sure cost is well for three eight. So success story. Yes. Don't be like Terry.
All right. So you want to find out more about. First, they was like, you need to do is call him at his office, very him for three eight eight four three eight zero eight SLV or go on like slum dotcom, like Sloane Dotcom. A lot of great stuff like that. Yes, sir. I'll be here. Sounds good. Is the export advantage real estate show with hey, if you are in the market to make the most of your home, it was an active investor.
I have bought and sold a lot of properties in bull markets and one of the less.