It will be a buyers market soon. Ive been playing this game for three decades.
@RagedContinuum
3 ай бұрын
don't know - the carolinas are a top destination for out of staters, so the market trend should continue for years
@timothybilsky3023
7 ай бұрын
Yup. Our SC condo insurance alone on the master Flood/HO policy went from 3600/yr to 4800 in one year 22 to 23. That doesn’t include our own personal policy which is another 2200 itself so when a renter is looking at rent and saying it’s crazy, yes, it is, and that’s a major part why. That’s one time assessment in addition to the $470/mo HOA assessment. And our board is fiscally responsible. 😮
@timothybilsky3023
7 ай бұрын
We had another instance in the resort our property is located at which was deemed structurally unsound. Each owner was assessed about 330k for that work. Need to research very carefully before you take the beach condo plunge.
@jeremyblanton
7 ай бұрын
WOW! That's definitely a lot!
@Sbach342Guy
7 ай бұрын
Each owner? What was done that needed that much work?
@terrencecescon102
4 ай бұрын
So we sold our place in Bermuda run and our place at lake Wynonah in PA. No more HOA fees. Bought a lot on a pond("heart lake") in ocean drive and built our dream home. No more noisy neighbors, especially the drunken summer renters. Harley bike week much quieter now. Love MB even more now!
@emilys4ppy
2 ай бұрын
There’s TONS of units for sale at Myrtle Beach Resort. Ours has been on the market for over 6 months. 2b/2ba unit, building is oceanfront, roughly $160k. Many units are available. Not sure what you’re on here other than insurance/hoa, which is insane yes
@catherinepratt6026
4 күн бұрын
Is your condo still available for sale? Looking to buy a 2 bedroom condo in Myrtle.
@emilys4ppy
4 күн бұрын
@@catherinepratt6026 yes! Search Zillow for Myrtle Beach Resort. Lots of options there. Our unit is 227A, make an offer!
@tommays56
4 ай бұрын
Rebar and concrete buried in the sand he’s just gonna age out with no repair possibilities
@MonarchRoofing
4 ай бұрын
Great video! Thank you for sharing.
@toyarj37
13 күн бұрын
Also it’s the same ocean up and down the east coast. In Delaware the same condos are millions as in New Jersey so in sc the hoa is keeping property values down
@Keto_Mike
7 ай бұрын
The hoa fees are crazy on the water.
@canisdeumnox4925
4 ай бұрын
HOA laws do not side on the owner. If you get an HOA board who doesn't respond to owners (not provide monthly financals, allow to attend board meetings, allow some owner to skip paying dues) - you have to get a lawyer and sue. An honest inspection of the building / exterior siding / pools and ammenties is not done until it breaks or SHUTDOWN by the health dept (SCDHEC). then the board rushes to slap a cheap fix just to say it fixed. My old building had a steam sauna w a drainage problem.. fixed it a week before the feb 2024 election.. a week after elections the steam sauna was broken again.
@griswald7156
7 ай бұрын
Do condo buyers realise how annoying their neighbours can be ?? A lovely view dosent give you peace of mind… If you look at the flat and think you’ve got a ready made social life,that will be a mistake..they might all be lovely though.
@timothybilsky3023
7 ай бұрын
That’s another potential issue.
@griswald7156
7 ай бұрын
@@timothybilsky3023 give me a lawn to mow…..any day of the week..
@glory70x
7 ай бұрын
Exactly!
@glory70x
7 ай бұрын
Ocean Creek is still affordable. But small square footage!
@jeremyblanton
7 ай бұрын
That is definitely sometimes a con when living in a condo complex!
@kathyrosen2593
7 ай бұрын
What sbout the "garden home" type single story type condos? Seems structural issues would be similar to single family homes.
@jeremyblanton
7 ай бұрын
So a lot of these type of properties function as a condo as well where you own wall to wall, but not the dirt. In a lot of these instances, HOA includes insurance which means those fees are increasing right now as well!
@kathyrosen2593
7 ай бұрын
@jeremyblanton homeowners should budget for insurance, care, and maintenance increases yearly, whether in an HOA or or not. Over the last 20 years the only constant has been out base mtg payment. If you are in a 1 flood zone vs. A 7 flood zone would you expect a smaller insurance increase or are the insurance companies spreading the risk across all customers?
@jeremyblanton
7 ай бұрын
It seems like they are spreading it out among everyone! @@kathyrosen2593
@deanc.5984
6 ай бұрын
CONDO: OVERPRICED Apartments at the mercy of electrical, plumbing, gas, rude loud neighbors..you can have it. I'll be in the woods, wood stove, away from chaotic mob mass of people.
@jeremyblanton
6 ай бұрын
We can find those too here for the right price!
@toyarj37
13 күн бұрын
Is this guy for real? There is condos everywhere on the beach for sale. And the prices are low. The issue is the assessments and the hoa fees. Some of the monthly hoa fees I saw were 2 k a month. Only an idiot who hasn’t been watching things why buy those condos. At this point you can’t give them away
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