Coastal REO Solutions Real Estate Blog for Myrtle Beach, South Carolina | Coastal REO Solutions: REO Asset Management Service

Jul

Myrtle Beach Real Estate is moving – Check out these GREAT values!

The Grand Strand market is moving, values are holding at current levels and there are tremendous buying opportunities. For those not familiar with The Grand Strand it is a 60+ mile stretch of the Eastern Coastline from Little River to Pawley’s Island. The Grand Strand includes Myrtle Beach, Surfside Beach, Garden City, Murrells Inlet, North Myrtle Beach, Cherry Grove and several other cities.
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Coastal Solutions is a firm dedicated to helping stabilize The Grand Strand Real market by offering risk-management & assessment services of distressed assets. We achieve this by utilizing our staff’s superior knowledge of market conditions & strategies. Working with a network of contractors, inspectors & builders we provide you with a team dedicated to maximizing saleability of your assets.

Not all of our properties are distressed assets — Some are just great deals — Take a look at some of our featured properties and call or email us with any questions. Please do not forget to try our one of a kind custom Bank Owned and Short Sale Property Search Feature >>

FEATURED PROPERTIES >>

9780 Estep Court | Myrtle Beach, SC 29579
This is a must see. Not a short sale or bank owned home. Has it all, sitting on one of the best golf course home sites in the Members Club Section of the Grande Dunes. Almost 5300 Heated Square Feet and just under 8000 total square feet.
4 Bed, 5 full 2 half bath, study, loft w/wet bar and so much more.
Price $999,900
» View details

9340 Modena Court | Myrtle Beach, SC 29579
Great home located in the Members Club section of The Grande Dunes. Granite, Tile, Hardwood, Fireplace, Viking Appliances, Subzero Refidge, and a Master Bath Room to die for – Floor to ceiling tiled shower is a must see.
4 Bed, 4.5 Bath, Study, 3 car garage, 3650 heated square feet
Price $799,900
» View details

2006 Kilkee Drive | Myrtle Beach, SC 29579
If you own land in Horry or Georgetown County this home owner will consider a trade. Large home located on Parkland #11 golf hole. No detail was left out on this home. Viking Appliances, Wet bars with beer kegartors, Zodiac Counter tops, Sonace sound system, and every other toy you want.
4 Bed, 3.5 Bath, Study, Screen Porch, 4572 Heated Square Feet
Price $799,900
» View details

117 A N. Dogwood Drive | Surfside Beach, SC 29575
Awesome raised beach house with tons of upgrades. 42 inch Plasma TV, Granite, SS appliances, Tile throughout 1st floor, smooth ceilings, private pool with paver deck, TV room with X-box, and much more. Great vacation home – Rent out while you are not using!
4 Bed, 3.5 Bath, 2100 Square Ft
Price: $399,900
» View details

184 Low County Loop | Murrells Inlet, SC 29576
Bank Owned home sits on 2.7 acres and back up to Collins Creek. This beautiful Low Country inspired home Upgrades include hardwood flooring, granite countertops, travertine tile, tile shower, large rooms, home automation prewiring throughout, large 54′x12′ back porch, tech shield roof sheathing, upgraded insulation, solid core doors & more.
4 Bed, 4.5 Bath, Study and great covered back porch, 3200 Heated Square Feet
Price $539,900
» View details

4104 Girvan Drive | Myrtle Beach, SC 29579
Awesome home with a study & large open kitchen on a great fenced golf course home site. Hardwood floors, granite, stainless steel appliances, 2 fire places. Large Master Bedroom has his & her closets, tile shower with rain head, fire place and sitting area. Great covered porch that could be easily screened.
4 Bed, 3.5 Bath, 3400 Square Ft
Price: $449,900
» View details

2030 Kilkee Drive | Myrtle Beach, SC 29579
Bank Owned not a short sale… A MUST SEE AT THIS PRICE! TRUE VALUE. Lot Location: On Golf Course…Oversized 2 car garage…stainless steel appliances…full bonus room with full bath, easily could be 4th bedroom…large screened in porch…
4 Bed, 3.5 Bath, 3000 Square Ft
Price: $449,900
» View details

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Published in Coastal Properties, Market, Newsletter Archive, REO

Mar

Coastal REO Solutions & Beach Realty team up on Short Sales

Myrtle Beach & Garden City Short Sales and Foreclosures Coastal REO Solutions of Myrtle Beach, South Carolina is proud to announce a new partnership with Beach Realty of Garden City, South Carolina to administer their short sale and distressed asset properties. This arrangement will bring together two of the Grand Strand’s top real estate companies to aid clients in potentially difficult situations, while offering buyers increased access to value oriented beach homes. This strategic alliance combines many decades of experience in the real estate field to serve you more effectively and more efficiently.

Jason Ellis literally grew up in the real estate business. His family has been in the realty field since before he was born, and real estate runs in his blood. For more than a decade, Jason has carved out an impeccable reputation among Grand Strand and Myrtle Beach area real estate professionals. He instinctively understands the true value in making the correct decision in a real estate deal, and has been involved in all aspects of the business from straightforward homes sales to complex million dollar foreclosure proceedings. Jason will handle all aspects of distressed assets, short sales, and foreclosure properties for Beach Realty through his current company, Coastal REO Solutions.

Coastal REO Solutions specializes in Myrtle Beach short sales, bank owned homes, property preservation, and other distressed real estate. CRS is devoted to stabilizing the Myrtle Beach real estate market by offering property assessment, risk management services, sales and marketing of short sale property and other real estate assets in any stage of foreclosure. They are the Grand Strand’s leading REO and Troubled Asset Real Estate Firm, and no matter what stage of foreclosure you find yourself in, they can assist you with the process.

Beach Realty agents are ‘native sons’ of the Grand Stand and Myrtle Beach region; their knowledge and understanding of its distinctive culture, economy and resources are unmatched. Working with Beach Realty, you get the reliability and dedication that comes from a team of seasoned professionals who are willing to go beyond the call of duty for you or your family. They specialize in maintaining one of the largest inventories of direct oceanfront and first row houses in the Garden City, Murrells Inlet and Surfside area of Myrtle Beach.

The addition of Distressed Asset & Short Sale Manager Jason Ellis means Beach Realty is poised to extend further into the Grand Strand real estate market in a manner that many other companies cannot equal. Beach Realty agents will be better equipped to help you sell a troubled property with Jason’s expert guidance, and of course they are already experts at finding you the perfect oceanfront home or vacation rental from which to enjoy the glorious summers and mild winters here on the Grand Strand.

(contact information here-not sure if you want all info from both companies or not- i would though)

On behalf of Coastal REO Solutions, we would like to welcome all the fine agents and staff from Beach Realty into our family and we look forward to Coastal REO Solutions becoming part of the Beach Realty family.

Coastal REO Solutions specializes in Myrtle Beach short sales, bank owned homes, property preservation, and other distressed real estate. CRS is devoted to stabilizing the Myrtle Beach real estate market by offering property assessment, risk management services, receivership management, sales and marketing of short sale property and other real estate assets in any stage of foreclosure. They are the Grand Strand’s leading REO and Troubled Asset Real Estate Firm, and no matter what stage of foreclosure you find yourself in, they can assist you with the process.

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Published in Foreclosure, REO, Short Sales

Tags: Beach Realty, Garden City Foreclosures, Garden City Short Sales

Feb

Myrtle Beach Foreclosure Should Be Myrtle Beach Short Sale

Myrtle Beach Short Sales Coastal REO Solutions is committed to bringing strategic counsel, creative solutions and timely, responsible services to our clients. Through accountability and strong relationships our mission is to return economic stability to our coastal Real Estate market.

A recent list on CNN Money rank Myrtle Beach as 6th in the highest percentage of Foreclosure increase in the nation. As a resort destination the vast majority of these foreclosures are second homes. Many of the properties were purchased by speculators and “flippers” that found themselves without a seat when the music stopped. This has presented a great opportunity for the many buyers that were priced out of the real estate market during the boom of 2006 and 2007.

However, this trend could easily be stopped with a process called a “Short Sale”. A short sale in real estate occurs when the outstanding debt (mortgage) against a property is greater than what the property can be sold for. Short sales are a way for homeowners to avoid bankruptcy or foreclosure proceeding by convincing the bank to accept a discounted payoff, meaning the lender will release the lien that is secured to the property upon receipt of less money than is actually owed. With a successful short sale you can avoid the public notification of a foreclosure and more importantly keep the foreclosure off of your credit report.

There is absolutely no reason to let your property go to foreclosure. At Coastal REO Solutions one of our asset managers will assist you through the Short Sale process. Through a short sale you still maintain some control and we can negotiate the deficiency (money still owed to Lender after the sale) down and even sometimes away. If you do nothing and let the lender foreclose on your property they will dictate how much money is owed.

Don’t forget to sign up for our monthly newsletter to stay informed and feel free to use our custom one-touch short sale and bank owned property search application. Timing has never been better to purchase property in Myrtle Beach.

If you are headed towards foreclosure please call or email us!! We can HELP! 843-839-8046 or info@coastalreosolutions.com.

Coastal REO Solutions specializes in short sales, bank owned homes, property preservation, and other aspects of distressed real estate, in Myrtle Beach, North Myrtle Beach, Surfside Beach, Garden City Beach, Murrells Inlet, Pawleys Island, Grande Dunes, Plantation Lakes, Plantation Point, The Dunes Club, North Beach Plantation, Legends Resort, Ocean Front Condos, The Grand Strand and many other areas along the Coastal Carolinas.

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Published in Foreclosure, Short Sales

Tags: Asset Management, Myrtle Beach Short Sales

Feb

January Newsletter ~ Here’s To a Happy & Successful New Year!

COASTAL REO SOLUTIONS JANUARY 2010 E-NEWSLETTER

Here’s To a Happy and Successful New Year!
view newsletter »

Special Thanks to the following people for their referrals and direct support:
Debbie Guyette, Bryan Lenertz, Harry Bates, Justin Lee, Robert Hucks, Randy Salmon, It’s a Core Thing, Flooring by Design, Letourneau Builders, Divine Design Luxury Homes, Sago Plantation at Legends, Bradley Developers, Myrtle Beach Direct Air

FEATURED PROPERTIES

117 A N. Dogwood Drive | Surfside Beach, SC 29575
Awesome raised beach house with tons of upgrades. 42 inch Plasma TV, Granite, SS appliances, Tile throughout 1st floor, smooth ceilings, private pool with paver deck, TV room with X-box, and much more. Great vacation home – Rent out while you are not using!
4 Bed, 3.5 Bath, 2100 Square Ft
Price: $450,000
» View details

4886 Bermuda Way | North Myrtle Beach, SC 29577
Great Home in central Myrtle Beach – All Brick – Just painted complete inside – New Stainless Steel Appliances – Hardwood Floors in great room and carolina room – Double sided Fireplace – Home Inspection done by “WIN Home Inspectors” and can be viewed upon request.
4 Bed, 3 Bath, 2400 Square Ft
Price: $354,500
» View details

8609 Caldee Court | Myrtle Beach, SC 29579
Mediterranean Masterpiece¦. Situated on cul-de-sac lake lot in Plantation Lakes. Floor to ceiling cast stone fireplace. The large kitchen features custom cabinets, two dishwashers, gas range, built-in coffee & espresso machine. Hand scraped hardwood floors, large walk-in closet.
5 Bed, 5 Bath, 4500 Square Ft
Price: $699,900
» View details

4104 Girvan Drive | Myrtle Beach, SC 29579
Awesome home with a study & large open kitchen on a great fenced golf course home site. Hardwood floors, granite, stainless steel appliances, 2 fire places. Large Master Bedroom has his & her closets, tile shower with rain head, fire place and sitting area. Great covered porch that could be easily screened.
4 Bed, 3.5 Bath, 3400 Square Ft
Price: $511,511
» View details

565 Linton Park | Myrtle Beach, SC 29579
Awesome new construction in Covington Lake… Great lake lot.. Granite, Custom Cab, Granite, Fireplace, and much more situated on cul-de-sac lot!
4 Bed, 3 Bath, 2400 Square Ft
Price: $389,900
» View details

2030 Kilkee Drive | Myrtle Beach, SC 29579
Bank Owned not a short sale… A MUST SEE AT THIS PRICE! TRUE VALUE. Lot Location: On Golf Course…Oversized 2 car garage…stainless steel appliances…full bonus room with full bath, easily could be 4th bedroom…large screened in porch…
4 Bed, 3.5 Bath, 3000 Square Ft
Price: $499,900
» View details

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Published in Newsletter Archive

Tags: Featured Properties, Newsletter Archive

Jan

Grande Dunes – Myrtle Beach Real Estate – Short Sales

For those of you familiar with the Grande Dunes no explanation is necessary.

This beautiful well appointed community is one of the most dynamic master planned communities on the East Coast. Spanning 2200 acres from Intracoastal to Ocean along the Grand Strand of Myrtle Beach this stunning Mediterranean community has World Class amenities in place.

Fashioned after Addison Reserve in Boca Raton FL, Grande Dunes offers an unparalleled choice of single family homes, cottages, villas, and condominiums with Ocean, Intracoastal, Marina, and Golf Course views. The Real Estate activity from January 2009 through February 2010 is a testament to the value offered at Grande Dunes.

During the calendar year of 2009 there was over $50,000,000.00 (fifty million) in Real Estate sales at Grande Dunes. Many of these sales were Short Sales (see below for a description) or REO/Bank Owned Homes. Regardless of the homes status this is a large amount of volume considering the current state of the housing market. Year to date, January 28 2010, there have been 19 properties contracted or sold totaling $10,150,000.00 (ten million one hundred fifty thousand). Don’t miss out on this great buying opportunity.

A short sale in real estate occurs when the debt (mortgage) against a property is greater than what the property can be sold for. Short sales are a way for homeowners and or builders to avoid bankruptcy or foreclosure proceeding by convincing the bank to accept a discounted payoff, meaning the lender will release the lien that is secured to the property upon receipt of less money than is actually owed. This situation is a great opportunity for Buyers. Many of the property sale prices at Grande Dunes are less than the replacement cost. Meaning you could not rebuild or duplicate the property you just bought for the same amount of money. There has never been a better time to become a home owner at Grande Dunes.

Short Sales may not be the most attractive thing for Sellers, however it is a way to salvage your credit, avoid or reduce the chance of a deficiency judgment, and/or avoid a costly foreclosure. If you are a Grande Dunes homeowner and need short sale help Contact Us now.

Coastal REO Solutions is a troubled asset liquidation company specializing in Short Sales, REO/Bank Owned Sales and Marketing, Property Preservation, Receivership Management, and other aspects of distressed Real Estate. Contact Us if you are a servicing manager, investor, hedge fund professional, lender, or asset manager so we can put our expertise to work for you.

If you are a Buyer or just thinking about purchasing please take advantage of our one touch proprietary search application. It’s free and you do not have to register to use this service.

Coastal REO Solutions 843-839-8046

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Published in Community Spotlight, Market, REO, Short Sales

Tags: Grande Dunes, Myrtle Beach Short Sales

Jan

The UNFAIR Tax – It’s not too late to help!

Coastal REO Solutions, one of Myrtle Beach’s top troubled asset liquidation firms, has seen an unfortunate increase in REO (bank owned homes) and Short Sales along the Grand Strand. There are many factors for this and they can all be debated. You can fault the economy, the real estate bubble, the fact that credit was too easy to obtain, and so on. However, one of the main things holding back the real estate recovery along The Grand Strand is the Point of Sale (POS) Tax Assessment also known as “The UNFAIR Tax”.

The long and short of this legislation is this – Two property owners own identical homes or investment property on a similar plot of land, one purchased before the POS and one after…

Purchase before POS assessment
$350,000 (assessed value) x 6% = 21000 (assessment) x .2119 (tax rate) = $4,449.90 Tax Bill

Purchased after POS assessment
$500,000 (purchase price) x 6% = 30000 (assessment) x .2119 (tax rate) = $6,357.00 Tax Bill

FOR THE SAME PROPERTY!!

Because of the unfair point of sale tax, some companies have said they will not relocate or open new businesses in South Carolina. Our state has lost hundreds of millions in economic investment and that means businesses are taking their jobs to other states.

South Carolinians feel strongly about attracting new businesses and jobs to the state, and believe the point of sale law is hurting our economy.

To make matters worse, city and county governments can spend the money they collect from point of sale any way they want without local governments. And while most local governments have not cut back on spending—like the rest of us—the point of sale tax is hurting our economy, the housing market, and working families.

However, there is a fix it’s not too late, there is a bill before the Legislature. So it’s time to tell the politicians in Columbia to fix this law and get our economy back on track. Take action today!

Point of Sale Tax Assessment

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Published in Economy

Tags: Point of Sale Tax

Dec

Myrtle Beach Foreclosures Driven by HOA Delinquency

Coastal Reo Solutions is a Myrtle Beach Reo property preservation and REO management firm, and today our thoughts turn to the Myrtle Beach foreclosure market and a startling new trend in foreclosures that is creating a high number of the bank owned properties here in the Grand Strand area.

A recent article in The Sun News stated the number of Myrtle Beach foreclosures filed by Home Owners Associations (HOA’s) have more than doubled from 181 Myrtle Beach foreclosures in the year 2007 to 481 Myrtle Beach foreclosures last year in 2008, figures they obtained from local Garden City real estate information company, Sitetech Systems. Sitetech also found 260 Myrtle Beach foreclosures in the first nine months of this year by HOA’s. A Home Owners Association is comprised of all the people who own a house or condo in a given neighborhood or building. It is usually started by the developer of the property, and turned over to a committee of homeowners to enforce any covenants, laws or restrictions that are agreed upon by property buyers. They also collect fees for maintenance of common areas, landscaping and any neighborhood amenities, such as pools, walking trails, tennis courts, gyms and playgrounds. Every property owner must abide by the HOA agreement and pay these dues, and failure to do so creates a situation where the HOA has to take action to enforce the rules and collect the outstanding fees. This is where the foreclosure option comes into effect and increases the number of Myrtle Beach foreclosures on the market.

A great many condos, manufactured houses, and townhomes that are on the Myrtle Beach foreclosure market are not primary homes, but rather second homes for people from other areas of the country purchased during the past decade when the U.S economy was riding high. With the current economic downturn, people aren’t able to continue to pay for luxury items, like second homes at the beach, when the cost of necessities has sky-rocketed and out-of-control government spending threatens the small signs of economic recovery that we are experiencing the last few months. Home values continue to trend downward, even as sales have shown an increase from the Home Buyer’s Tax Credit, and many owners could find themselves underwater on not one, but TWO mortgages.

HOA’s are seeing a marked increase on the number of owners who are behind on their association dues, and under South Carolina laws they have the right to place a lien on the property, and in extreme cases they have the option to file foreclosure proceedings against the delinquent owner. A quick check of any Myrtle Beach foreclosure listing will turn up a significant number of short sales on second homes to try to avoid foreclosure as well. HOA’s are also reportedly seeing an increase in the numbers of owners who simply hand in the keys to the property and just walk away from their second home obligations to secure on their primary residence’s mortgage. Lenders are then sidled with a growing number of bank owned properties that aren’t selling and aren’t producing income.

This is where Coastal Reo Solutions can be of assistance. Our Reo Services team can take the burden off the lender, and our Reo Management agents can secure, preserve, market and capitalize these properties. Visit our contact page to leave us a message or call us concerning Myrtle Beach foreclosures, bank owned and realestate owned properties, or to see how our easy, low-cost comprehensive services compare to other reo asset management companies in Myrtle Beach, South Carolina.

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Published in Coastal Properties, Foreclosure, Market, REO

Tags: Bank Owned, Economy, Foreclosure, Hoa's, reo services

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COASTAL REO SOLUTIONS JANUARY 2010 E-NEWSLETTER

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