Dargan Real Estate - Myrtle Beach, SC

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Archives for November 2013

5 Reasons You Should Relocate to Myrtle Beach

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I love living in our coastal city, so it bothers me when Myrtle Beach gets a bad rap. News stories about unsavory crime rates (or any other negative publicity) will occasionally surface, and sometimes people jump to conclusions without considering the big picture. (For the record, crime rate statistics are calculated without factoring in our visitors. The year round, resident population in Myrtle Beach is around 27,000 whereas the average number of people in the area on a daily basis is around 105,000. When you look at the number of crimes that occur in relation to a population of 27,000 and fail to consider there’s roughly 80,000 additional people in the area, the numbers are going to be significantly skewed.)

With that said, I want to share the top 10 reasons why Myrtle Beach is a GREAT place to live.

#1 – 215 Days of Sunshine

That’s the annual average in Myrtle Beach. The weather is fantastic all year long with mild temperatures and sunny skies. The average high in the months of December and January (our coolest months) is between 57-60 degrees. Donate your snow shovel before you make the move because you definitely won’t need it here.

#2 – Beautiful Beaches

Our beaches are diligently maintained, and they remain pristine and beautiful as a result of strictly enforced laws and the city renourishment programs.

 

Atlantic Ocean

 

#3 – Activities, Entertainment, and Festivals, Oh My!

There’s a TON of stuff to do in Myrtle Beach. There are more than 102 golf courses, 30 miniature golf courses, 8 entertainment theaters, over 300 outlet stores, and approximately 1,700 restaurants in Horry and Georgetown county! If that’s not enough, there’s always some type of family-friendly festival going on, such as the Blue Crab Festival, Mayfest on Main, the Beach, Boogie, & BBQ Festival, Little River Shrimp & Jazz Festival, and the Loris Bog-Off, just to name a few.

# 4 – Lower Taxes & Low Cost of Living

The cost of living in Myrtle Beach is 7% lower than the national average and our real estate is reasonably priced. In addition, South Carolina doesn’t impose a tax on Social Security benefits and offers a generous retirement-income tax deduction, as well. As a whole (housing, taxes, utilities, and daily living expenses), Myrtle Beach is one of the most affordable places to live in the country, and residents receive an impressive 88% property tax credit.

# 5 – We’re Pro-Business

The state of South Carolina is a national leader for growth in self-employment, job placement efficiency, and a business-friendly tax climate. It is consistently ranked among the top pro-business states by Forbes magazine. South Carolina rewards investment and new employment by offering the lowest income tax in the Southeast and no inventory tax. The incentive list also includes exemptions, abatements, moratoriums, credits and reductions for new or expanding companies, and our state lawmakers are committed to keeping it that way.  

 

These are just a few reasons why Myrtle Beach is an awesome place to live. Come visit and discover the endless others!

Protect Your Myrtle Beach Real Estate with Flood Coverage

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Myrtle Beach experienced a bit of unusual weather yesterday. Temperatures skyrocketed into the 70’s only a day after they dipped down into the 20’s (with wind chills in the TEENS!)  Not long after the temperature dropped, a nasty storm rolled through the area and brought a tornado watch, a gale warning, high gusts of wind, and heavy downpours with it.

It’s very uncharacteristic for our area to experience storms like the one we had yesterday during this time of year. It just goes to show we never really know when Mother Nature might throw us a curveball and how important it is to be prepared when she does.

A major concern in the Grand Strand area is flooding. Flood zones are created from ocean water and rain that is driven inland by severe storms, tropical storms, or hurricanes. The flood waters along the beachfront can rise to heights of 15-to-20 feet above sea level.

Some buyers avoid looking at properties located east of 17 Business because they fear outrageous insurance premiums. (Side Note: There’s a difference between HWY 17 Bypass & HWY 17 Business—also referred to as Kings Hwy.)  While it’s true that mortgage lenders require special coverage for wind and hail damage (that can be rather pricy) on certain properties east of 17, they don’t require it on all of them because they aren’t all located within FEMA flood zones.

If you are considering purchasing a home east of HWY 17 Business that is located within a FEMA flood zone, have an elevation survey done on the property before you purchase a coverage policy. The elevation levels can vary drastically from one property to the next, and the policy’s rate can vary by hundreds of dollars.

Also, another thing to consider when you search for an insurance policy is that some companies don’t offer coverage for ANY property east of the Intracoastal Waterway.  For property owners who can’t obtain flood insurance coverage through the standard insurance market, policies are provided by the SC Wind & Hail Underwriting Association. Our best advice is to check with a LOCAL insurance company for questions regarding these types of policies. It’s always best to consult a professional (i.e. lawyer, mortgage lender, insurance agent) for area specific questions.

The following links have some useful information regarding flood zones, insurance coverage, and the SC Wind & Hail Program (also known as the “Wind Pool”).

http://www.scwind.com/index.html

http://www.floodsmart.gov

http://msc.fema.gov

http://dnr.sc.gov/flood.floodmaps.html

 

If you have additional questions about flood zones in and around Myrtle Beach or would like a list of local insurance agents, please contact us at Dargan Real Estate.

843-712-2585

Fall/Winter Maintenance

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During the fall months, it’s important to prepare your home for the colder weather to come. By taking the time to tackle a few (quick and easy) maintenance chores, you can save money on utility bills and protect your investment from the effects of harsh weather.

Fall/Winter Checklist

  • Hire a technician to check your heating system and water pump to verify they are clean and working properly. If you choose to skip this step, you might regret it when you find yourself last in a long line to have it repaired on the coldest day of the year.
  • If your ceiling fan has a reverse switch, change the direction of the blades (from counterclockwise to clockwise) after you turn on your heat. Changing it will create an updraft and push the warm air down (as heat rises) into the room. This can be especially helpful for homes with tall ceilings. As a result, you might even be able to turn down the thermostat a degree or two.
  • Caulk around all doors and windows. Silicone caulk is best for outdoor use because it doesn’t shrink and can withstand the natural elements outside.
  • Inspect storm doors and windows for cracks and/or broken glass.
  • Clean the gutters. Clogged gutters can cause leaks, as well as damage the roof, siding, or wood trim.
  • Check the attic or basement insulation for signs of moisture.
  • Turn off outside faucets and put away any hoses. Water that hasn’t been properly drained from pipes can freeze and cause them to burst.
  • Clean out your inside drains by adding ½ cup of baking soda, followed by ½ cup of white vinegar. Let it sit for ten minutes and then flush with boiling water.
  • Mow leaves instead of raking them. Mowing leaves into small pieces will help them decompose and nourish your lawn during the winter months. Also, properly store your mower by draining any fuel remaining in its engine. After time, fuel left sitting in a mower can varnish the carburetor and cause you trouble when you try to start it in the spring.  
  • Clean, cover, and store outdoor furniture.
  • If you have a pool, make sure to have it properly serviced and winterized. Install a pool safety cover to protect both children and pets. In addition, make sure the pool fence is in good repair and securely locked.
  • Walk around the outside of your home and check the crawl space vents at the foundation. Close any open vents.
  • Keep firewood away from the home to prevent termite and other pest infestations.

Can you think of something we’re missing? Share it with us!

 

The Reality of Flipping Houses

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what-are-flipping-houses

Flip This House on A&E, Flip That House on TLC, Flipping Out on Bravo. This list could go on, but you get the picture: TV shows about flipping houses are a dime a dozen.

House flipping is the practice of buying an undervalued home with the sole intent to resell it for a substantial profit. Shows about flipping houses send viewers the message that they can easily renovate a property and resell it for a huge profit… and all before the first mortgage payment is due! If that isn’t enticing enough, they make it seem like they could make more money flipping one property than they’ve made in the past year.

These shows fall into the category of “reality” TV; the reality is that it’s not as easy as it looks. They often fail to mention how hard it can be to bounce back and make a profit when all of the things that can (and frequently do) go wrong, and you’re trapped with a house you can’t sell. This includes anything from poor budgeting to a timing issue to a spike in nearby crime.

Facts that prove house flipping isn’t as easy as it looks on TV:

1. There are tons of others who dream about flipping houses and taking home huge paychecks. This competition means that obvious deals on undervalued homes are gone almost as fast as they’re available, and finding the right property is very time consuming.

2. You’ll need access to a significant amount of cash for down payments, repairs, and updates.

3. Every day you own the house equals additional costs in interest (if you took out a mortgage), utilities, taxes, and insurance.

4. The IRS might not make it worth your while.

Example:

If you buy a house, renovate, and resell it while you are working another full-time job, the purchase is considered an investment and the proceeds are taxed as short-term capital gains (if you own it for less than a year) or long-term capital gains (if you own it more than a year). Short-term capital gains are taxed at the same rate as your annual income, and long-term capital gains are taxed at 15%. However, if you’re flipping houses year-round and the income pays your bills, it’s considered a business. This means the profits will be taxed as ordinary income regardless how long you own the property, and you’ll have to pay a self-employment tax of 15.3%. PLUS, you won’t be able to utilize the IRS section 1031 like-kind exchanges, which help with taxes when you have a property that sells for substantially more than you paid for it. Only investment properties qualify for this type of tax break, and while the code doesn’t specify a time frame, the rule of thumb is that you need to hold it for at least a year.

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With that said, flipping houses can be profitable for the right people with the right resources. If you choose to try your hand at flipping property, you should learn everything you can about the industry. Don’t consider making a career out of it until you’ve made double what you make a year in your current job. Also, it is possible (but undoubtedly exhausting) to moonlight as a house flipper.

Myrtle Beach Neighborhoods & Communities: The Villages of Arrowhead

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Arrowhead

The community known as the Villages of Arrowhead is located off Highway 501 in Myrtle Beach and borders the Arrowhead Golf Course & Country Club. Residents enjoy a convenient location that’s only a short drive away from nearly every area in Myrtle Beach.

Arrowhead is actually comprised of nine unique villages that are connected through one Homeowners Association. Some of the homes are even located along the Intracoastal Waterway in Arrowhead Grand and those residents enjoy the perks of different boating activities.

The homes consist of two to five bedrooms from just under 1000 to 3500 heated square feet. There are both single-story homes and two-story homes with one or two-car garages.  Many of them are full of upgrades and customized details. These custom details include patios, crown molding, screened porches, granite, and tile. If you are looking to build your own home to fit your style, there are a few remaining lots available.

The amenities offered to residents of Arrowhead include a poolside pavilion, a junior-Olympic swimming pool, walking trails, and lighted tennis courts.

School Districts: Lakewood Elementary, Forestbrook Elementary, Carolina Forest Elementary, Bridgewater Academy, Forestbrook Middle, Myrtle Beach Middle, Ocean Bay Middle, Socastee High School, Myrtle Beach High School, Academy of Arts Science & Technology

To check out the properties available within the Arrowhead community, click here.

Horry County Schools

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Today we’re sharing information about our county’s schools. We know parents want to feel comfortable sending their child to school everyday when they move to a new area.  This information can have a huge impact in a buyers decision and can make one neighborhood a better fit over another.

We looked at student-to-teacher ratio statistics, parent reviews, and average test scores. The following is a summary of the highest ranked schools in our area.

Elementary

Carolina Forest Elementary

CF Elementary

Grades: K- 5

Students: 948

Teachers: 71

Carolina Forest Elementary District Lines

CF Elementary District Lines

Lakewood Elementary

Lakewood Elementary

Grades: Pre-K – 5

Students: 788

Teachers: 44

Lakewood Elementary District Lines

Lakewood Elementary District Lines

Forestbrook Elementary

Forestbrook Elementary

Grades: K – 5

Students: 825

Teachers: 48

Forestbrook Elementary District Lines

Forestbrook Elementary District Lines

Socastee Elementary

Socastee Elementary

Grades: Pre-K – 5

Students: 618

Teachers: 40

Socastee Elementary District Lines

Socastee Elementary District Lines

Middle Schools

Forestbrook Middle

Forestbrook Middle

Grades: 6 – 8

Students: 1,048

Teachers: 60

Forestbrook Middle District Lines

Forestbrook Middle District Lines

Ocean Bay Middle School

Ocean Bay Middle

Grades: 6 – 8

Students: 1,024

Teachers: 60

Ocean Bay Middle School District Lines

Ocean Bay Middle District Lines

St. James Middle School

St. James Middle

Grades: 6 – 8

Students: 1,046

Teachers: 53

St. James Middle School District Lines

St. James Middle District Lines

High Schools

Carolina Forest High School

Carolina Forest High

Grades: 9 – 12

Students: 1,912

Teachers: 77

Carolina Forest District Lines

Carolina Forest High District Lines

Myrtle Beach High School

MB High

Grades: 9 – 12

Students: 1,217

Teachers: 75

Myrtle Beach High School District Lines

Myrtle Beach High

St. James High School

St James High School

Grades: 9 – 12

Students: 1,367

Teachers: 72

St. James High School District Lines

St. James High

 

To read reviews from parents of students who attend the above schools (or any other schools in the area), you can view them at Trulia.com.

*All photos are screenshots taken from research done on Trulia.com & PublicSchoolReview.com.

Featured Property: 179 Sugar Mill Loop

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Sugar Mill Loop

This beautiful home is newly constructed and located within Sugar Mill Plantation in the Forestbrook area of Myrtle Beach. It features three bedrooms, two full baths, an attached two-car garage, and a covered porch.

This property has tons of custom features and upgrades like stainless steel appliances, granite counter tops, upgraded cabinets, hardwood and tile. The kitchen’s features include a pantry and breakfast nook.

Kitchen

Kitchen Sink Angle

The living area is spacious with tall windows that let in tons of natural light. Other features of this great property include tray ceilings with fans and his and her walk-in closets. The bathrooms feels luxurious with its dark cherry cabinets, double vanity, and large garden tub.

Den

Bathroom

Tub

The property’s exterior has many attractive features too–a covered porch, great curb appeal, and lake views. This home is one you definitely don’t want to miss checking out because it’s move-in ready and located in a great community!

Yard

Call Dargan Real Estate to schedule a showing today! This featured property won’t stay on the market for long!

843-712-2585

Tips for a Successful Open House

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You’ve set a date for an open house, and you want to be sure the right people show up. You have the basics down: declutter and ensure the home is clean and well-maintained, but what else?  Don’t worry; these insider tips should do just the trick.

Open House

Consider hosting an early showing of your home for locals only. If you’re planning an open house between the hours of 1 and 4 pm, invite your neighbors to stop by between noon and 1 pm. The invite will make neighbors feel appreciated and needed, but it will also allow your agent to focus on serious and interested buyers during the actual hours of the open house.

PROMOTE, PROMOTE, PROMOTE. Bring awareness to your open house by uploading tons of photos, passing out flyers, and advertising in the local newspaper. Make sure your property is listed on the MLS and be sure to advertise the open house on websites like Trulia.com and Zillow.com. An added bonus: post an “Open House” sign in the yard a week before the event to let potential buyers that drive by the home know when they should come back.

Be absent. If you’ve hired an agent, there’s no real reason for you to attend the open house. Buyers need to be able to picture themselves in your home, as well as feel they can speak their mind freely, and it might be hard to do that if you’re there.

Secure your home and belongings. It’s okay to set some ground rules when you’re opening up your home to strangers. Require a signature and proof of ID (if you skip it, you run the risk of getting fake names and numbers) from every person who stops by the open house. Bathrooms are off limits–you never want a closed door between a stranger and your home. Dispose of any prescriptions you are no longer taking and/or take them with you, lock up and hide away all valuables, and ensure all guests have a chaperone at all times.

Consider choosing an “off” hour. Most open houses take place on Saturday or Sunday afternoon between the hours of 1 and 4 pm. Host your open house between 3 and 5 pm instead. An “off” hour ensures less open house competition and draws more attention to your property. An added perk: most buyers hit up several open houses in one day. At the beginning of the day, buyers are excited about the properties they are planning to see and fly through them because they’re eager to see what’s next. By knowing your property is the last open house of the day, the buyer can take their time viewing the property–and if they’re still looking–give you serious consideration.