Happy New Year !
Archives for December 2013
Homebuyers are often shocked to learn the number of costs included with the closing of a loan. The bulk of mortgage closing costs are related to third party charges accrued by the lender and passed on to the borrower. Because all fees (mortgage fees included) are settled at the closing table, they are all referred to as closing costs.
On average, closing costs account for 2-5% of the home’s sale price (this percentage can vary drastically depending on the circumstances) and usually include the following:
- Obtaining a credit report
- Evaluation of the property to be purchased and the borrower
- Title search and title insurance
- Loan origination fees (the processing of paperwork)
- Home inspections and appraisals
- Escrow deposit
- Documenting the transaction in city/county records
The homebuyer almost always pays the majority of closing costs. Sometimes lenders will advertise mortgage loans without closing fees, but buyers should be leery of such advertisements. If a bank is offering a loan without fees, borrowers should be aware that fees are likely included in the structure of the mortgage.
It’s important for buyers to be aware of the amount of closing costs they will be expected to pay because it affects the amount needed to purchase the home. Lenders are required by the federal government to provide an estimate (Good Faith Estimate or GFE) of the closing costs once the homebuyer applies for a loan. GFE laws state that the final settlement cannot deviate from the estimate given by more than 105% (or not at all on certain loan products).
One tip on how to determine the individual costs from the sum total of the closing cost is to have your lender add up the lender costs (which are the costs he/she estimates on page 2 of the GFE form), as well as provide you with the loan interest rate for which you are qualified. This is a great way to determine which lender is offering the best deal.
For example: If Lender A estimates their lender costs will be $5000 for a 45-day loan lock at 3%, find out how much Lender B estimates for a 45-day loan lock at 3% for your specific credit profile and compare the two estimates.
To read more about mortgage lending and the new regulations that will take effect on January 1, 2014, consumerfinance.gov is a great resource.
We hope everyone had a wonderful Christmas with family and friends. Please contact Dargan Real Estate with any Real Estate Needs you may have in 2014!
Here’s a summary of what you can expect for real estate market in the new year and how you can work trends to your advantage.
Inventory is improving. The number of homes on the market has risen by 1.8% since last year.
30-year fixed mortgage rates are expected to rise. Current mortgage rates are currently around 4.5% and are expected to rise to rates over 5%.
Loans will be easier to obtain but closings may take longer. You should be able to speed up the closing process by sticking with a local lender who has ties to nearby appraisers.
Sellers are likely to receive multiple offers from interested buyers. Make credible offers because sellers won’t need to come back with a counteroffer if others are on the table.
Take advantage of your rising home equity if you’re not quite ready to sell. Add value to your home by borrowing money against the property. Take on any home renovations you’ve been putting off or complete any needed maintenance to secure a higher offer when you’re ready to sell.
Price your property right the first time. Buyers are pretty wise in today’s market. They won’t agree to a higher list price than those of similar homes in the same area.
Keep an eye on inventory trends and list your home accordingly. Ask your agent for a monthly report on the number of listings compared to the number closing. Assume price gains are about to slow when you see a small increase in listings compared to closings and that’s the time you should act.
Back in March, the Professional Golfers Association (PGA) announced that the Dunes Golf & Beach Club has been selected to host the 47th Annual PGA Professional National Championship presented by Club Car, Mercedes-Benz, and OMEGA.
The championship will take place between June 22nd and June 25th of 2014 and will field 312 professionals to compete over four rounds for the Walter Hagen Cup title. The top 20 finishers will receive an invite to compete in the 96th PGA Championship in August at Valhalla Golf Club in Louisville, KY.
The championship next year will be the second time South Carolina has hosted the PGA event (it was previously held at the Ocean Course on Kiawah Island), and it’s a great honor for both South Carolina and the Grand Strand area.
The 1948 masterpiece created by Robert Trent Jones, Sr. has hosted several PGA events in the past, including six Senior PGA Tournament Championships, the US Women’s Open, and the PGA Tours Q-School finals. In order to prepare for the upcoming event, the club underwent renovations orchestrated by Robert Trent Jones Sr.’s son—Rees Jones—this past summer.
To accommodate the large field for the championship, a second course is always used for the first two days of play, and The Grande Dunes Resort Club will have the honor of hosting that.
We are thrilled that two of our top courses have the opportunity to host this exciting event and welcome all of the many visitors the event is sure to bring to our area!
Golf Digest, Golf Magazine, and Golfweek (along with virtually every other major golf publication) rank the Dunes Golf & Beach Club as the #1 Golf Course in Myrtle Beach and one of the “Top 100” courses in the world! It has hosted many PGA tours, as well as other amateur, national, and state events.
The Dunes Golf and Beach Club was envisioned and established in the late 1940’s. In the years that have passed since it was established, renovations have been made, traditions have been rooted, and its membership has steadily grown to over 750 members!
photo credit: golfpacmyrtlebeach.com
The prestige and popularity associated with the Dunes Golf & Beach Club is no surprise because it has A LOT to offer its members.
- 8 lighted tennis courts (6 clay courts and 2 hard courts)
- Oceanfront 700′ pool with diving area
- Kiddie pool under a shaded cabana
- Poolside snack bar
- Showers, lockers, and changing areas
- Active youth programs in the form of swim lessons, swim teams, and summer camps
- Private beach access
Tennis Programs Offered:
- Social and competitive leagues and tournaments
- Currently hosts two USTA sanctioned tournaments for members and sponsored guests (The Dunes Waccamaw Cardiology Junior Tournament & the Adult Labor Day NTRP and Open Tournament)
- Private lessons, leagues, and tournaments for children aged 4-8
- USA Tennis 123 and clinics for every skill level available for children aged 8-18
Full Membership – includes the use of all facilities; no greens or tennis fees
Social Membership – includes the use of clubhouse, pool, and beach facilities; use of golf course 4 days per calendar year, per member number (within available time slots and cart fees apply); use of tennis courts 2 days per month (days do not accumulate or roll over into the next month) with $0 court fees
Tennis Membership – includes the use of clubhouse, pool, and beach facilities; unlimited tennis play with $0 tennis fees; use of golf course 4 days per calendar year, per member number (within available time slots and cart fees apply)
For additional information about the Dunes Golf & Beach Club or if you have questions about how to become a member, please visit the club’s website at thedunesclub.net.
Located within close proximity of Coastal Carolina University and downtown Conway, the available property located on Amber Lane is full of old-fashioned charm. Plus, this traditional styled home is located just minutes from the beach and outside of a subdivision–which means the new homeowner won’t need to worry about HOA (Home Owner Association) fees or restrictions.
The property houses four bedrooms (three on the ground floor and one on the upper level), two full baths, and a detached two-car garage. The large room upstairs has laminate flooring and would be a great option for a bonus room, game room, or guest suite. The ground level displays its original (and beautiful) hardwood floors that have been well-maintained.
Other notable features: a front porch perfect for rocking chairs or a swing, back patio, large concrete driveway (in addition to the detached two-car garage), spacious yard with mature trees and shrubbery, brick fireplace, and large bay windows that bring in generous rays of sunshine.
This charming home is in a great location, has tons of space, and is priced to sell! Don’t miss out on this amazing deal by calling Dargan Real Estate to schedule a showing today!
While decorating our homes for the holidays, it’s crucial that we remember to protect our investments–and more importantly–our lives. Hospital emergency rooms treat approximately 12,500 people a year for injuries (broken bones, lacerations, electrical shocks) received while decorating for the holidays, according to the Consumer Product Safety Commission (CPSC).
Ensure your home, yourself, and your family are safe by following these helpful tips.
- Always keep burning candles within eyesight and away from trees and wrapping paper. Speaking of wrapping paper, never throw it into the fireplace. It ignites suddenly and burns intensely, which may cause a flash fire.
- Check your holiday lights before putting them up to make sure they have been tested by a recognized lab and meet safety standards. A red label means the lights can be used both indoors and out. A green label means they can be used indoors only.
- Make sure lights (new or old) are free of broken or cracked sockets, frayed or bare wires, or loose connections. Discard any lights that are damaged.
- Use no more than three standard-size sets of lights per each extension cord.
- Ensure all lights on trees or other items are unplugged before you go to sleep or leave the home.
- Never place lights on a metallic tree. The tree can become electrically charged and cause electrocution if the tree is touched.
- Fasten outdoor lights securely to protect them from wind damage.
- For artificial trees, make sure the label indicates it is “fire resistant”. For real trees, keep them well hydrated and fresh.
- Place trees away from fireplaces and radiators, as well as out of the doorway and high traffic areas.
- Use thin wires to secure a large tree to the walls or ceiling. These wires are nearly invisible and will prevent the tree from toppling over. This is especially important if you have mischievous pets.
- Keep children and pets in mind by placing non-toxic and unbreakable ornaments on the lower branches of the tree. Use ribbon instead of metal hooks to prevent choking or injury.
- Keep your inflatable outdoor decorations from blowing away by securing them properly. They can easily become dangerous, flying objects. Shut off fan blowers when it’s windy outside or when you aren’t going to be home for long periods of time.
DARGAN REAL ESTATE has sold over 1.3 million dollars in Commercial Real Estate in 2013. DARGAN REAL ESTATE has also leased over 10,000 Sq Ft of commercial space in 2013. Call us today with all your Commercial Real Estate Needs. 843-712-2585
Exclusive, prestigious, charming, and luxurious are adjectives commonly used to describe the community of Dunes Cove.
Dunes Cove is conveniently located just two miles south of Highway 22. Its exact location is slightly north of the intersection of Highways 17 Business and Bypass—just north of the Grande Dunes community and south of Arcadian. It is one of the oldest and highly regarded neighborhoods in Myrtle Beach, and features large, wooded lots with gorgeous views of Lake Arrowhead. The homes are between 2500 and 6000 heated square feet and range in price from $395,000 to $6.9 million. Dunes Cove truly has so many amazing things to offer homeowners—a safe location within walking distance of the beach, rare and extraordinary estate homes, and tennis or golf right at your fingertips.
View available homes within Dunes Cove and contact Dargan Real Estate to schedule a showing or answer any questions you may have!
While it’s highly unlikely that we’ll see snow, December is such a fun time to live in Myrtle Beach! There are so many amazing Christmas and holiday events, festivals, shows, and activities going on in our area. We thought we’d share them so you’ll be sure not to miss out on them!
Broadway at the Beach Christmas Parade & 19th Annual Holiday Tree Lighting
December 7, 2013 |11 am until 8 pm
Experience a bit of holiday magic at the annual holiday tree lighting and parade at Broadway at the Beach. The parade will begin at 11 am near Hard Rock Café and will wind around Broadway at the Beach, ending near WonderWorks. Stick around after the parade and enjoy a holiday production of spectacular music and dance—courtesy of the Carolina Forest Performing Arts Academy. There will also be special performances from Legends in Concert and the Palace Theatre, followed by the lighting of the tree at 6 pm. After the tree lighting, take in the fireworks extravaganza over Lake Broadway at 8 pm—courtesy of Helicopter Adventures.
Conway Chamber of Commerce Christmas Parade
December 10, 2013 | 10 am
The parade will begin at 16th Avenue in Conway, between Main Street and Sherwood Street.
Surfside Beach Annual Christmas Parade
December 10, 2013 | 2 pm
There are more than 100 entries in this year’s parade, and there will be bleachers/viewing stands available at the intersection of Ocean Drive and Surfside Drive. The parade will begin on Ocean Boulevard at 10th Avenue South.
Breakfast with Santa Claus at Ryan’s Steakhouse in Surfside Beach
December 17, 2013 | 9 am until 10:30 am
Children 10 and under can enjoy a free breakfast and have their photo taken with Santa Claus. Reservations are required, and you can reserve your spot by calling 843-650-9548. Ryan’s Steakhouse is located at 8671 U.S. 17 Bypass in Surfside Beach, SC.
Photos with Santa at Inlet Square Mall
Now until December 24, 2013 | 11 am until 7 pm
Have your children’s photo taken with Santa Claus at Inlet Square Mall. Pets can also have their photo taken with Santa on December 12th and 19th from 5 pm until 8 pm. Inlet Square Mall is located at 10125 Highway 17 Bypass in Murrells Inlet, SC.
Shadrack’s Christmas Wonderland
Now until January 5, 2014 | Dusk until 10 pm
Immerse yourself in thousands of LED Christmas lights by taking a drive through Shadrack’s musical light show. After the show, stop by Santa’s Village for festive refreshments and photos with Santa! There’s a ton of other fun stuff to do at Santa’s Village too—a free petting zoo, carnival games, pony and camel rides, as well as a train ride. Shadrack’s Christmas Wonderland is located at the Myrtle Beach Pelican’s Ball Park at 1251 21st Avenue North in Myrtle Beach. Open nightly, including holidays. Admission into Santa’s Village is FREE. Rates for the drive-thru light show are as follows: Cars or Family Vans $25.50; Activity Van or Mini Bus $40; Limo $50; Tour/School Bus $5 per person.
The Palace Theatre presents Jersey Nights Christmas Special
Now until December 21, 2013
Four male vocalists and six spectacular dancers showcase favorite hits from Frankie Valli and the Four Seasons with a spectacular mix of holiday classics. Hit songs include Walk like a Man, Candy Girl, Jingle Bells, White Christmas, and Oh, What a Night. The Palace Theatre is located at Broadway at the Beach at 1420 Celebrity Circle in Myrtle Beach.
The Carolina Opry Christmas Special
Now until January 4, 2013 (regular evening performances and selectively scheduled matinees)
Referred to as “The Holiday Show of the South,” the Carolina Opry’s Christmas Special is filled with music, comedy, and dance from long-standing Opry favorites. The Opry has also added newer performers, such as American Idol’s LaToya London and the infamous “All That” stars of NBC’s America’s Got Talent. Ticket prices range from $27.19 to $54.12. Calvin Gilmore’s Carolina Opry is located at 8901 North Kings Highway in Myrtle Beach.
Alabama Theatre’s “The South’s Grandest Christmas Show”
Now until December 31, 2013
An award-winning show featuring song, dance, and plenty of comedy—this southern, family tradition instills the true meaning of Christmas with its combination of traditional Christmas classics and contemporary holiday favorites. Ticket prices range from $39.95 to $49.95. The Alabama Theatre is located at 4750 U.S. 17 South at Barefoot Landing in North Myrtle Beach.
The Taste of Christmas Show at Christ United Methodist Church
December 19, 2013 | 7 pm
Christ United Methodist Church is located at 2901 Fantasy Way in Myrtle Beach, SC.
“The Nutcracker” presented by the Coastal Youth Ballet Theatre
December 6, 2013 at 7 pm, December 7, 2013 at 4 pm, December 8, 2013 at 4 pm
The show will be presented in the Beach Church Auditorium located at 557 George Bishop Parkway, Myrtle Beach, SC.
OTHER HOLIDAY EVENTS
Brookgreen Gardens presents Nights of a Thousand Candles
December 5, 7, 12, 14, 19, & 21 2013 | 3 – 10 pm
Brookgreen Gardens comes to life as more than 5,500 hand-lit candles and countless sparkling lights light their beautiful paths. Celebrate the beauty of the season with your family and friends as you sip warm cider, walk through the gardens, and enjoy the sounds of hand bells ringing and carolers singing. Individual and family member tickets are $12 for adults and $6 for children 3+. General admission adult tickets are $16 and $8 for children 3+. Brookgreen Gardens is located at 1931 Brookgreen Garden Drive in Pawleys Island, SC.
photo: courtesy of myrtlebeachonline.com
Ripley’s Festival of Trees at Broadway at the Beach
Now until December 31, 2013
More than 50 trees have been put on display throughout the aquarium, and a 20 foot red, white, and blue tree can be found on the outside plaza. Each of the 50+ trees is decorated to represent a different area of the United States. Regular admission to Ripley’s Aquarium is $21.99 for adults, $10.99 for children ages 6 – 11, and $3.99 for children ages 2 – 5.
Snow Globe: Winter Holiday Festival
December 7, 2013 | 10 am until 7 pm
A winter, holiday festival at Valor Park in Market Common offering free family entertainment in the form of food, games, prizes, raffles, give-a-ways, and lots of shopping. The Market Common is located on Farrow Parkway in Myrtle Beach.
Do you know of a great Christmas event that we’ve missed? Let us know!