Tag Archives: Garden City Foreclosures

Natural Cork Flooring

Flooring

Natural Flooring

With the myriad of flooring types available, shoppers tend to lean toward those that are most popular at the time. Unfortunately, this practice can cause a consumer to miss out on some great flooring options.

One of these hidden gems is cork flooring. Imagine a floor covering that is attractive, comfortable, environmentally friendly, durable and affordable. When most people think of cork, they think of a wine bottle or a cork board, and due to this lack of consumer awareness, this product is commonly overlooked. In order to appreciate this material, you really need to understand its unique characteristics.

Origin

Cork is actually the bark of the cork oak tree found in the Mediterranean. Portugal is the largest supplier with over 30% of the world’s cork trees and 70% of the world’s cork production. Every nine years the bark is harvested by hand with the average tree yielding about 4,000 corks.

The bark is honeycomb in nature, containing 90% air that can be compressed to 40% and then quickly returning to its original shape. This feature creates a natural shock absorber.

Benefits

Due to its air like composition, walking on cork is like walking on air. Its comfortable walking surface is perfect for kitchens where you are standing for lengthy periods of time.

Cork has a natural beauty with a rich, varying grain, similar to wood. It also comes in many different patterns and tile sizes from various manufacturers.

The same feature that makes the floor comfortable creates a natural noise reducer. It’s extremely quiet to walk on and reduces the impact if an object is dropped on its surface. It’s insulating effect make cork a great choice in a bathroom over radiant floor heating or even installed over cold concrete floors.

Cork is an environmentally friendly product in many ways. Since the bark from the tree grows back nine years after harvest, it’s a reusable and sustainable product. It also contains suberin, a substance that is resistant to insects, mold and protects cork from rotting when exposed to moisture. Suberin is naturally fire resistant and cork doesn’t release any toxic gases when it burns.

The durability of cork makes it a perfect choice for virtually any room in the house, including those high traffic areas. It has been successfully used in churches and other public buildings since 1898.

Disadvantages

Due to its resilience, heavy furniture can dent the flooring, so it’s important to use castors or furniture pads under table legs. Just as with wood, an excess of water can damage the finish. It shouldn’t be used where you have problems with moisture or flooding.

Costs

The cost of cork flooring compares to high-end laminate or hardwood and runs approximately $4 to 6$ per square foot.

Maintenance

Cork floors are extremely easy to maintain with regular sweeping or vacuuming. Damp mop the floor monthly with a mild detergent and very little water and avoid using abrasive or ammonia-based cleaning products.

The flooring requires up to five coats of urethane sealer, which will last several years. A dulling floor can be refreshed with another coat.

Visit Land on Water Realty, your one-stop resource for Myrtle Beach real estate Have all your questions answered by Preston Guyton, a professional Myrtle Beach Realtor

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Atlantic Luxury Homes

Luxurious House

Luxurious House

The moniker “Atlantic Luxury Homes” likely conjures up images of crashing waves and majestic beach homes perched atop sand dunes overlooking miles of pristine beach. This image was likely birthed by pictures of Myrtle Beach in South Carolina. This scenic destination resort town is one of the most dramatically beautiful spot on the east coast and is home to a real estate market that showcases a variety of new construction and older historic homes. Of the new construction properties, perhaps the most popular home choices are the fantastic condo developments that line the coast.

Recent years have seen the evolution of Myrtle Beach into one of the most popular destinations on the east coast. This has resulted in the creation of a thriving investment atmosphere with vacation rentals forming a solid backbone for the real estate industry. This takes nothing away from a historically active and stable residential core that also has created a secure and thriving business sector. It could be said that Myrtle Beach possesses “the full package” when considering a location for a new home or investment property.

Is it time to treat yourself to that dream home that you deserve? There is really no better place to look than Myrtle Beach. This area can boast excellent choice for entertainment and recreation. Of course the ocean provides any number of sporting options as well as great fishing and and the most breathtaking scenery available. There are really any number of reasons to consider a move to Myrtle Beach, but then again, you likely already have your own reasons….

Preston Guyton is a professional RealtorĀ® serving the Myrtle Beach real estate market. For more information on Myrtle Beach homes & properties, contact Preston today or visit http://www.prestonguyton.com

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What is a Short Sale and How Does it Connect to the Foreclosure Process?

Myrtle Beach Foreclosures

Myrtle Beach Foreclosures

The term short sale has been brought up more and more in the real estate world as the property market has corrected to a more sustainable growth level. Depreciation of home values over the last few years has led to homes that are worth less than the mortgages that were used to finance the purchase. This situation coupled with a nationwide recession that has created the need for people to sell their homes despite being “underwater” has led to the recent popularity of short sales.

What Is an Underwater Loan?

A home loan or mortgage that is higher than the actual value of the home is said to be underwater. Over the last few years this situation has become a common occurrence as homeowners who bought at the peak of housing prices with little or no money down have seen their property values decrease, sometimes dramatically. They began with a $300,000 loan on a home that appraised around that value, and now their mortgage amount is around the same, but that same house appraises for less than $250,000.

With the rise in unemployment, many homeowners who have found themselves in this difficult situation have been forced to sell their home because they can no longer afford the mortgage. The problem that occurs is that even if the homeowner sold their home for $250,000, they would still owe the bank the additional $50,000, which holds up the sales process. This hurts everyone involved because the original owners cannot pay the mortgage, so they default on the loan. The new buyers who are excited about the home are not allowed to buy it at the new market price. Finally, the bank that holds the mortgage will not let the original owner sell, does not receive a payment each month for the mortgage, and must now go through an expensive and time consuming foreclosure process to get possession of a home they will only be able to sell for less anyways.

Buying and Selling a Home with a Short Sale

This is where short sale comes into play. In a short sale the original homeowner who is underwater will get an agreement from the bank to complete a short sale and put their home on the market at the current local price. When a buyer decides to purchase the home, the bank agrees to let the sale take place and take a loss on the original mortgage. Ultimately, this type of legal settlement allows the homeowner and bank to avoid a costly and credit damaging foreclosure process. The owner will still take a hit on their credit score and the bank will lose some money on the transaction, but the overall solution is much better than foreclosing on the home.

Foreclosures and Short Sales

Short sales are becoming more common with our current correction in home prices and high unemployment, but many bands still make the process very difficult for the owners because they do not want to take a loss on the loan. For this reason, many banks will not consider the option of a short sale until the homeowners are already several months behind on their mortgage. In addition, banks reserve the right to not accept the price the new buyer offers for the home if they think it is too low. This creates tension between all parties involved, and if unresolved leads to the eventual foreclosure of the home.

Preston Guyton is a professional Realtor serving the Garden City, SC Real Estate market. For more information on Garden City, SC homes and property, contact Preston today or visit http://www.prestonguyton.com.

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