Monday, January 4, 2021

2021 Real Estate Market Expectations

 


In 2020 the housing market faced a lot of uncertainties. The coronavirus pandemic turned the entire housing market on its head at some point. However, data suggests that there had still been an uptick in consumer activity. A lot of people were still finding ways to make buying a home possible. The way homes were marketed and sold was greatly affected. Marketers turned to digital solutions and heavily relied on online conferencing apps to create meetings without physical interaction. With the widespread availability of COVID-19 vaccines looming, there’s a lot to say about what the housing market will be in 2021.

 Housing market projections for 2021

 The housing market for buyers

 The flourishing housing market came as a surprise to industry experts especially during a time of crisis. Experts were preparing for a crash. However, the opposite had happened. Due partly to low mortgage rates, many people were still interested in buying homes and properties despite the pandemic. Data from Freddie Mac last December that 30-year, fixed-rate mortgage rate was at 2.67% which was 1% lower than the average rate in 2019. With that said, it is expected that people will continue to take up the opportunity to find a home especially when mortgage rates are at a historic low. If you plan to purchase your first home in the midst of a pandemic, always consider hiring an expert like Full Potential Real Estate.

 The housing market for sellers

 Demand for homes actually spiked last year. There has been a low supply of homes in the market in late 2020. This is primarily due to the fact that there is lesser movement as homeowners choose not to relocate. Most people with adequately-spaced homes have chosen to opt out from selling their home. Since online learning and work-from-home setups have become a major trend, a lot of homeowners no longer felt the need to relocate. This trend is likely to continue. Also, a lot of the homebuyers are opting to buy properties in the suburbs where space is more abundant. As for homeowners looking to sell their home, it is best to consult a real estate agent for a fair valuation of your property.

 Renting in 2021

 The rental market is one area that’s been greatly impacted by the pandemic. According to data last December 2020, only 75.4% of apartment households made a full or partial payment which is a considerable drop from 80.4% from the previous month. However, the outlook remains positive as a nationwide vaccine rollout is underway.

 New housing construction

 With the strong demand for homes, construction and development is eyed to increase later on this year. According to data, planned construction of homes have gone up since November. According to realtor.com, new construction and development for 2021 will see an increase of 9% compared to 2020. In general, the Myrtle Beach real estate market is still looking positive and 2021 might be better since the vaccines for COVID-19 might be rolled out sometime this year.

 Are you looking for a home or planning to sell your property? Get professional assistance from a reliable real estate agent in Myrtle Beach. Call Full Potential Real Estate today! You may reach us at (843) 236-0203.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-236-0203
http://fullpotentialrealestate.com

Wednesday, December 23, 2020

First Time Home Buyers Should Read This



 If you happen to be a first time home buyer, then you are familiar with numerous obstacles in acquiring a home, home loan, and what type of financing suits you best. However, this becomes easier when you obtain suggestions and recommendations from professionals and a licensed real estate agent. You should also remember that buying a home is a significant monetary investment which is why it is important to educate yourself on every step of the process.

What First Time Home Buyers Need To Do

  • When you decide to acquire a house, talk with licensed Myrtle Beach real estate agent that could offer you experienced suggestions as well as beneficial details. The objective of this preliminary conference is not to get an agreement immediately, rather know more about the neighborhood property you may be interested in.
  • If the representative has no time at all to talk about the home buying procedure with you, keep looking until you find one that will. Full Potential Real Estate will certainly provide you details on the neighborhood realty market as well as provide you a suggestion of the kinds of home mortgage items that are readily available to you. A home loan broker or loan provider could additionally provide you useful information when you make a decision to get a house.

What To Ask Your Real Estate Agent

  1. The inquiries you ought to ask the real estate agent or home loan provider consist of:
  • The best ways to make a deal on a residence you want to acquire
  • The specifics associated with making your first deal
  • The last approval of the deal from the home seller
  1. Inquire about the negotiation prices, the deposit amount that you might require, and how long in between the approval of your deal and also the last closing day.
  1. See to it you know your credit history circumstance and your chances of getting the home mortgage. You must understand precisely just what gets on your credit score record prior to starting the residence purchasing procedure.

These ideas will certainly provide you an excellent start in making smart choices when you buying a home. Purchasing your very first residence is one of the most amazing events in your life. Try to find out every detail of the buying process and take into consideration your real estate agent’s recommendation and suggestions. The experience will certainly be much less demanding and also you will certainly gain the understanding you have actually acquired.

Find licensed and trusted real estate agents in Myrtle Beach when you call Full Potential Real Estate, LLC. You may reach us at (843) 492-4537.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com

Wednesday, December 16, 2020

TOP 3 QUALITIES OF A GOOD LISTING AGENT


 Say for instance you need to undergo a complicated surgery and you have the insurance coverage that allows you to choose any surgeon in your area. Regardless of who you will choose, you will be paying the same amount for their services. So, will you go with the one who just finished his or her residency? Or will you go with someone who has been in the medical field offering medical services for decades? Although selling your home is not a life or death proposition, it is still considered as an important financial transaction. It deserves to be given enough time for you to conduct the needed research so you can find the best listing agent who can help you achieve your financial goals.

In case you are in search of a reliable and trustworthy listing agent Myrtle Beach who will help you sell your home, here are the top three qualities that you need to look for:

Years Of Experience

Expert psychologist John Hayes identified 500 “masterworks” from the thousands of symphonies made between 1685 and 1900. The 500 symphonies were made only by 76 composers including Mozart and all except three of these composers wrote the pieces after being in the industry for at least a decade. Hayes referred to this 10 years of education and hard work as “a decade of silence,” which he discovered was also applicable to artists, poets, and other professionals. Another research revealed that a person can be an expert in his or her chosen field after spending a minimum of 10,000 of work. So, what does this all mean? Simple, for a professional to be an expert in a certain field, he or she needs deliberate practice.

A great Myrtle Beach listing agent does not become a master negotiator or marketer by working overnight or during weekends. The listing agent who possesses the skills to sell your property quickly and for a good price spend time and effort to study not only today’s housing market but also the local economy and determine how these affect their client and the property. The listing agent has employed many different negotiation techniques over the years and mastered and perfected this part of their business.

Entertains Questions

The way the listing agent handles your questions is also important. Keep in mind that new and experienced home sellers will always have questions concerning the listing as well as the selling process. A good agent will take the time to address and explain everything in simple English so you can understand the process. Experts such as Full Potential Real Estate can make the process a lot easier for you.

Creates A Plan That Works

A listing agent has several responsibilities, which includes marketing. Make sure that the real estate agent that you end up hiring has a proven and effective marketing plan. He also should have the funds needed to implement it. Ask for the potential real estate agent a list of his or her last three listings with photos. They must be clear and compelling. You should also check out the remarks of the agent regarding each presented listing. Is it enticing? Remember that real estate agents may try various strategies to make you list your property with them. Be sure to hire one you feel most comfortable with and you believe can best market your property.

 

Call Full Potential Real Estate, LLC if you want to work with a reliable listing agent.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com 

Tuesday, November 3, 2020

2020 US PRESIDENTIAL ELECTION AND THE REAL ESTATE MARKET


 As the hour draws near for the American people to choose their next president, uncertainty awaits the U.S. economy. Every sector in the economy will be affected. Election years typically draw a cloud of confusion over the stock market and others. The real estate market is no exception. Housing prices and mortgage rates will all be affected in some way. But how does this translate for the average homebuyer? What does this rocky economic stretch lead to?

How election years affect the real estate market

If you look at history, you can find that election years are good for home buyers and there’s a reason for this. The year before, during, and after an election, appreciation typically drops. Housing prices are slow to rise. The slow growth will affect the housing industry but will be a boon for bargain buyers alike.

It will be harder to sell during an election year

Despite the slow growth of home prices, many buyers will still hold off on making a purchase. This is typically due to the uncertainty that’s brought about by the election. The Myrtle Beach real estate market will be disrupted. There will be a decline in home sales before, during, and after the elections are over. This slump, however, will not last long and expectations will return to normal eventually soon after.

Property tax, deductions, and credits could be altered

Right now, property owners are enjoying tax deductions because of the Trump administration’s Tax Cuts and Jobs Act. However, these deductions that homeowners take advantage of can be thrown out the window as a new administration could undo the tax reductions. Removal of the tax reductions could deter homebuyers especially those who are only looking to buy their first-ever property.

Consumer confidence might get hurt

The overall health of the U.S. economy in 2016 saw an uptick. It is the health of the economy that drove consumer confidence in that particular year. The housing market and economic health are basically intertwined. This means that when the economy is looking good, consumers feel more confident to make large purchases like buying a home. On the other hand, the exact opposite could happen if the economy hit a bump in the road or if there’s a glum outlook ahead.

Elections can negatively impact home value

According to industry experts, home prices normally rise 1.5% less during an election year. Although it may not seem much the overall accumulated value will show that homeowners lose thousands of dollars per year.

Despite the fluctuations and confusion in the market, there will always be movement. If you wish to take your chance and find a good deal, talk to your real estate agent. When you look for a home, especially during these times where the elections and pandemic have greatly impacted the market, it is best to seek the advice of a market professional. Experts like Full Potential Real Estate can fill you in on the information that’s relevant to today’s real estate market. Without insider knowledge, buying a home would be like taking a step in the dark; you wouldn’t know what to expect.

Don’t know what to expect in today’s housing market? Buying a home isn’t entirely difficult if you get the right advice. Call Full Potential Real Estate today for more information on our services. You may reach us at (843) 236-0203.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com

Friday, October 30, 2020

Buying A Home – Hurdles Of Refinancing Amid The Pandemic

 


As a prospective homeowner, it’s normal to face a lot of challenges when buying a home. However, going into the real estate market is a lot harder during this time of pandemic particularly when it comes to mortgages. According to data reports, mortgage rates have fallen to record lows this year. However, refinancing has slowed down significantly as lenders became more stringent with their lending standards. Read on to know more about what to expect:

Mortgage refinancing in the time of COVID-19

Since the pandemic has hurt the economy, a domino effect of sorts is upon the everyday citizens of United States. Unemployment rate has skyrocketed and many Americans have lost huge amounts of money or lost their jobs entirely. But what has this got to do with people who are looking to refinance their home loan? What about people buying a home Myrtle Beach?

The very best thing that every homeowner and soon-to-be homeowners should do is to know what to expect. As unemployment rises, so are the standards set by lending firms. According to experts, borrowers may be required to take extra steps in order for them to qualify for a loan or to refinance their existing one.

Credit providers are going to look for higher credit scores

It wouldn’t come as a surprise for lenders to tighten mortgage loan standards especially in a key moment such as this pandemic. It’s not that they are just trying to make it harder for their clients but rather protecting their interests. With high unemployment rates, lending money comes with a greater risk. It’s these risks that lenders are trying to lessen by setting the bar higher. Federal Housing Administration (FHA) loan refinancing has required a credit score of 679 starting last July 2020. That’s up 11 points from one year ago. Whether you are refinancing your loan or simply trying to get a loan application approved, a higher credit score will be much better. It will help to ask your local real estate agent for some assistance in case you run into a wall with your finances.

Loan refinancing might be delayed

As previously stated, refinancing loans will be a lot harder. Other than that, customers need to expect delays along the way. It should be noted that many homeowners will try to refinance loans. This will give credit lenders plenty to work on which will undoubtedly cause delays.

Self-employed individuals will face more paperwork

 A few months back, Fannie Mae and Freddie Mac have introduced extra documentation requirements for borrowers who are self-employed. This is a precaution set in place by lenders to ensure that borrowers have healthy, stable finances and can make payments on time.

Everything will be done digitally

Many workplaces are now running on a remote location and operate wholly on online platforms. This is basically a measure to prevent furthering the spread of COVID-19. As for making the entire process of applying for a loan or refinancing, it is best to talk to your lender about it. You could also seek the advice of experts like Full Potential Real Estate regarding these matters.

Are you planning on buying a home but don’t have a concrete plan on how to? Call Full Potential Real Estate today! You may reach us at (843) 492-4537or more information on our services. 

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com


Monday, October 26, 2020

Buying A Home – Things Buyers Need To Know

 


The process of buying a home may vary depending on where you live. Some of the real estate laws in other states may not be applicable in the state you live in. That’s why you should always take your time in making sure everything is in order when purchasing a home. Aside from that, you should also hire a real estate agent to help you out along the way. While you can do your own research, a second opinion and some helpful insights from a real estate agent can make a difference.

 Here are the steps that you should follow when buying a home

 Make sure your finances are in order

 If you are like most people who don’t have millions of dollars in the bank to pay for a house upfront, you should keep your finances straight as an arrow. Your credit score will play a huge role with your mortgage applications. Sometimes, it could even be a determining factor if you could get a particular home or not. Always settle any debts and payments on time.

 Be familiar with how the mortgage industry works

 When buying a home Myrtle Beach, you should familiarize yourself with the entire process of searching for a home down to how mortgage companies work. All of the information you gather and learn will be useful when you purchase a home. If you can’t commit to learning everything, you could always hire experts like Full Potential Real Estate to help you out. Hiring a real estate who knows the housing market like the back of their hand will be of great help.

 Getting pre-approved for a mortgage loan

 When you are in the market for a home, it’s best to have yourself pre-approved for a loan. This will help you in determining what you can afford. Sellers will also choose the bidder with the documents to back up their bid.

 Work with a real estate agent

 The first thing that you need to acknowledge when buying a home is that you can’t own all of the work. You can’t micromanage the amount of work that needs to be put into purchasing a home and at the same time living your life normally. You need to work with a real estate agent to make your life a lot easier and your purchase much faster.

 Begin your search

 When searching, you can let your real estate agent do all the work and just filter through the listings that’s given to you. However, the process will be faster if you work alongside the agent to make the search faster. Define what you want, need, and expect. This way, there’s a criteria that both of you can share.

 Make an offer

 In case you finally find a home that you want, make an offer. However, don’t be hasty. Talk to your real estate agent before making a bid. Check with your agent about seller disclosures, what they mean, and how they affect your offer.

 Proceeding to a closing

 When you’ve finally managed to find your way through the end of the process, you will face one more hurdle and that’s closing the deal. If it is your first time buying a home, you can check with your realtor with what to do. They will explain to you everything that you need to know about transfer of ownership of the property and other essential information.

 Are you looking to purchase your first home? Avoid some of the common mistakes with buying a home! Hire Full Potential Real Estate to help you with buying your dream house. You may reach us at 843-236-0203.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com

Friday, October 23, 2020

REAL ESTATE AGENT IN MYRTLE BEACH IN FACING SELLERS’ FEARS

 


According to many realty professionals and real estate agent Myrtle Beach, selling a home entails lots of challenges and hindrances. In addition to the financial trials, a home seller may also feel lots of different emotions. He also needs to go through a number of decision-making processes, which will be easier if he works with a real estate agent from Full Potential Real Estate, LLC. If you are selling your home, the best way to prepare for it is to increase your knowledge and learn about the fears that sellers commonly face.

Seller’s Fear According To Real Estate Agents

Fear of not selling

One of the top fears of sellers is their house sitting on the market for a long time. The other houses that were listed at about the same time that their house was listed had already been sold. But their house is still in the market. This can be a huge problem especially if you need the money from the sale to buy another house. You should know, however, that any home regardless of its size, structure and location will sell if it is priced right and is in the right condition. Current market conditions also play a role in whether a home will sell or not. You should get important advice from Full Potential Real Estate to not miss out on the best deals.

And to ensure that your house will sell, you should consider working with a Myrtle Beach real estate agent. It helps if you start planning with your real estate agent before you decide to list your house. Keep in mind that it could take months before you can get an offer for your house. Planning early with your real estate agent, on the other hand, will help your house sell faster.

Fear of having to do a major renovation to sell the house

If you want to quickly sell your house at the right value, you will need to do some work on the house. You have to make it look inviting and appealing to your target buyers. But you do not have to spend a fortune on home renovations. Sometimes, all you need to spend is your time.

When preparing your house before you list it on the market, you should focus more on cleaning and in organizing your home. Luckily, with the help of a listing agent, consider doing some staging and replacing your furniture, appliances, and decorations. Remember that you do not have to do all the home renovations. You can leave some for the buyer, just do not forget to mention it to the buyer as you are negotiating the sale.

Fear of not selling by the due date

Some sellers have a due date for when they need to sell their house. This is true for sellers who are facing a job transfer or other major life events such as a death in the family or divorce. These events put a strain to the sellers that they need to sell quickly. If you are in a similar situation, you should know that this is not only stressful or you but it can also be disruptive.

There are lots of strategies to help you sell your house quickly. Work with a real estate agent in Myrtle Beach to help you sell your house before your due date. One thing you can do is to set the purchase price of the house near the range of recent home sales in the neighborhood.

Fear of setting a very low price for the house

You can easily tell if you have set a low price or not by comparing with the price of similar houses that are currently listed. You can also look at the prices of the houses that have recently sold in the neighborhood. When selling a home, it helps if you expect sudden price reduction especially if you are looking to sell before a certain date.

One thing you can do to ensure that you are setting the right price for your home is to work with your real estate agent in conducting research and creating strategies on how best to sell your house.

Looking for a real estate agent in Myrtle Beach to work with? Call Full Potential Real Estate now. You can also get a hold of them in the local directory Myrtle Beach Home Services. You may reach us at (843) 492-4537.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com