Myrtle Beach Condos in Auction This Month

One of the long-time favorite Myrtle Beach condos resorts, the Holiday Sands South is located at 2411 S. Ocean Blvd, towards the far south end of Myrtle Beach. A former hotel, the property was converted to condominiums around 2006.

On Saturday, August 22nd, 58 of these condos will be in a real estate auction managed by J.P. King Auction company. The Auction will be held at 1pm in the Myrtle Beach Marriott at Grande Dunes.

Business Wire reports there will be one and two-bedroom units, both oceanfront and ocean view offered. The one bedrooms with an ocean view were originally priced at $189,900 and will have an opening bid of $69,900, while the 2 bedrooms will open at $199,900 - down from the original price of $369,900.


Each unit is fully furnished with recently updated interiors and offer one of the best investment opportunities to come up lately in Myrtle Beach.

The Holiday Sands' amenities include two outdoor and indoor pools, indoor hot tubs, exercise rooms, and an indoor kiddie activity pool area with a lazy river. The resort also has a 100-seat restaurant, conference room, high-speed elevators, on-site parking and 24-hour customer service.

Our Condolux Myrtle Beach office manages several rentals in Holiday Sands, and our sales staff can help you with a purchase of one of these units as well as your trouble-free rental program. To see our rental information, visit Holiday Sands Resort.

Sales rep Richard Brooks will be happy to help you plan for this event. Contact him at 843-333-0470 or email NMBRealtor@Gmail.com.

The local Allstate agent Scott Todd is available to furnish H06 insurance and offers all types of Myrtle Beach Homeowners Insurance to make your purchase even easier.

Contact us soon for more information about the Holiday Sands Resort auction. Again, the auction for these Myrtle Beach condos takes place on the 22nd of this month.

Myrtle Beach Real Estate
Myrtle Beach Kids

Myrtle Beach Vacation Information

If you haven't surfed the net for Myrtle Beach lately, you may not have noticed some of the newer sites we've created for our various tourism interests.

Our parent company, Condolux Vacations, was originally servicing the resorts in North Myrtle Beach primarily. Indeed, we feel like North Myrtle is the preferred place to live and visit. There is less traffic, less crime, (not that either city has much) the beaches are wider, and the people friendlier. We are biased, of course, because most of us live here!

But many people still love to stay in downtown Myrtle Beach instead. So this year, Condolux has expanded to almost all of the best resorts in Myrtle as well. Our new website for Myrtle Beach condo rentals is called "Myrtle Beach Luxury Rentals". Give it a visit and see what you think! We still offer the best deals and only the very best upgraded condos through our rental program. But now you can stay at the great resorts like Ocean Forest, The Breakers, The Boardwalk Resort, and many more.

Even though the Pavilion is now gone, you will still find Myrtle Beach amusement parks like Family Kingdom. Our new website for Myrtle Beach Kids Attractions will help those with families and kids to find all the activities in Myrtle Beach for children. You will never have to think about what to do with your kids again! We've reviewed the Myrtle Beach water parks, mini-golf and putt-putt in Myrtle Beach, Ripleys Aquarium, Imax Theatre, and all the other places to go in Myrtle Beach with kids! We hope this new site will help you plan your days with the kids to their fullest.

We've always offered some of the best deals on Myrtle Beach golf packages around. We have a new blog now that is managed by our golf director, Craig Chinn. Craig will keep you informed about any tournaments, specials, and other Myrtle Beach Golf News here. Subscribe to our feed and keep up with all your favorite golf happenings in the area!

If you're looking to buy your own Myrtle Beach condo, be sure and check out our newly updated website that will eventually list every resort in the area with the MLS listings available. Sign up to get the new listings for your favorite resorts privately in your email. When you find the one you want, fill out the contact form, and we'll be there pronto to help you with questions and more details.

We want to be the place you go for your Myrtle Beach vacation plans, and we'll be adding more websites all the time to help you plan the best beach vacation you'll ever have!

Myrtle Beach Real Estate

Investing in Myrtle Beach Real Estate

According to Donald Trump's Trump University, there have been nine cycles in the real estate market in the last 150 years.

Each cycle averages 8 years of prices increasing, and 8 more years of prices and the market taking a downturn. If you take this average into account, then we are approximately in the third year of a downturn. Technically that means it might be 13 years before the market tops out again.

That could well be true if you are comparing normal markets to what happened in this country in 2005-2006. But being at the rock bottom as we are right now, it won't be necessary to wait that long to make a good profit with real estate, especially Myrtle Beach real estate.

You will probably never see prices as low as they are at this time, nor as many foreclosures as are available. From short-sales to REO's, which are unsold bank foreclosures, they are everywhere right now. Some places like Las Vegas are as low as 30 cents on the dollar for those fine luxury condos that were such a prime commodity 3 years ago.If you want to make money in real estate, this is your time, and it may not come again for another 16 years!

Contact us and let us tell you the best properties available in Myrtle Beach condos and vacation homes. Prices are starting to go up again...so waiting can cost you money!

Real Estate in Myrtle Beach Reflects a Nationwide Trend

We got together last week with some of our Realtor friends in Sarasota, Las Vegas, Los Angeles, and Greenville, South Carolina to do a press release about the state of the real estate market in our respective areas.

Since we are having such a good spring as far as tourism, and Myrtle Beach real estate sales are also doing much better, I wasn't surprised to hear things were similar in other resort areas. There were a few things I hadn't thought of though.

Diann Tonnesen says that investors are watching the foreclosures and low-cost deals in Vegas and snatching them up quickly...sometimes to the annoyance of regular buyers! She says that many of the houses are half the price that they were in the boom, and multiple property offers are not unusual. She said that even some Trump Tower condos were going for 30 to 50 Cents on the dollar.

Lee Cunningham in Greenville, SC reports that they have seen an increase in sales, but their property values have actually increased slightly. Money Magazine predicts that Greenville will be one of the first areas to recover from the current housing crisis.

Fran in Los Angeles says they are number three in the nation for the highest foreclosure rates, and it's bringing in the investors as it is in Las Vegas. I think California probably had the biggest increases in price, and have the most far to fall. However, with their perfect weather and the world's technology headquartered in the state, it's always going to be a preferred place to buy and live.

Beautiful Sarasota Florida is once again coming to life, according to Annette Smith. The luxury golf communities are continuing to prove the most popular in an area where the scenery is so eyepopping everywhere.

Myrtle Beach golf is always at a peak in the spring as well. Those living in the cold north are always anxious to see the sunshine and warmth of the south.

See the full press release about our Resort Real Estate Trends.

Myrtle Beach Golf in the Spring

The most glorious time of the year is now here, and waking up in the morning to the bright sunshine on the beach couldn't be nicer. The humidity is still low to none, the days are in the high 70's, and the golf courses remind every golfer why they love the game. This is why Myrtle Beach golf is the best in the nation.

In a few short weeks the hotel prices will start increasing in price for the summer season. Traffic will pick up with families and spring breakers. Restaurants will begin to form lines, and the beach will hunker down for another four months of hard work and heat.

This is when a golfer will find the best that the Grand Strand has to offer in prices, weather, and enjoyment. So leave your cool weather and come on down! Call the golf specialists at Condolux and ask about Malibu Pointe and the best deal to be had in Myrtle Beach golf packages.

Myrtle Beach Real Estate

Myrtle Beach Vacations

Condos and Rental Income

How to Calculate Cash Flow on Investment Rental Property

Because of government rules and regulations, no realtor or real estate agent will be allowed to forecast or give you any idea about cash flow or ROI when it comes to investment real estate or rental condos. This can leave you frustrated and wanting more information. We can, however, tell you the formula to use so you can get a general idea of your investment possibilities.

If you have not purchased the investment property and are trying to decide the potential returns, you can often find out the rental income from another unit of the same size (if it is a condo) or from neighboring properties. (If it is a home)

What is your taxable income or loss from the investment property?

Taxable Income or loss is the amount of your rental income, less operating expenses, depreciation on the property, and mortgage interest costs.

Depreciation can only be figured on the cost of the building. So with a house, you will need to separate the land cost from the building cost to do this. Depreciation is spread over 27.5 years, and not paid out in cash each year. Divide the cost of your building by 27.5 years, and that is your depreciation expense.

Figure your Interest Expense for the year on the mortgage and any borrowed funds used to purchase the property.

Operating expenses would include property taxes, condo insurance, repairs or losses from maintenance problems, and any charges from rental management companies and cleaning costs. One thing to think of- On site rental management usually charges around 50% or one-half of your rental income. Outside services for condo rentals in Myrtle Beach, such as Condolux, charge around 25-30%. Big difference!

Find your projected rental income if possible, or if you've already passed your first year, use the rental income figures. Subtract the Depreciation, Interest Expense, and Operating Expenses from this amount, and the result is your CASH FLOW for this real estate investment property.

If you have a LOSS, and if you're not a real estate professional, here's how your rental loss could affect your income tax, as of present 2005 tax laws.

If you actively manage the investment real estate and your adjusted gross income does not exceed $100,000, the rental loss (up to a maximum of $25,000) could be deducted from other income such as salary, interest, and dividends. Multiply the rental loss by your federal income tax rate. You will now have avoided a certain amount of income tax, and this can be figured into the cash flow.

New Cash Flow Calculating Process:

Rental Income
Plus: Tax savings
Less: Operating expense
Less: Mortgage payments
Equals= CASH FLOW

Assuming the investment real estate now just about "breaks even" on cash flow, your equity in the property increases each year as the mortgage loan is paid down. Any increase in the value of the property during the years of ownership will increase the owner's ultimate return.

Calculating the cash flow on a real estate rental property investment you're considering will help you decide whether the investment is a good one. You may want to avoid investments with a negative cash flow unless you can come up with additional money to cover operating costs and debt payments.

What is 1031 Tax Exchange, and how can it help me?

We want to help make your investment real estate transactions as economical and as efficient
as possible. That's why we believe that the "tax deferred exchange" is an approach that should be considered by anyone who owns investment or business related property.

Learn how a 1031 Tax Exchange works, or contact us for more information.

The Myrtle Beach Condo Store
Myrtle Beach Real Estate

Myrtle Beach Vacation Business is STRONG!

I keep seeing reports in the Sun News that rentals are off for this year. Well, I have once again inquired, and Martin Brown, owner of Condolux of North Myrtle Beach tells me that he is up from last year about 20%, and from what he has heard, Condo World is also up a little bit or even with last year. So it appears there are possibly two things creating this discrepancy.

In Myrtle Beach, the Sun News is going mostly by reports from the company that owns Myrtle Beach Hotels.com. Now they are the most powerful family company in the area and have been for many years. They have a dozen or more very powerful websites, and rank number one in Google for Myrtle Beach Hotels. They also own websites for most if not all of the resorts that they service, and many of these also come up under that term in Google. This, however, is fairly recent...maybe no more than from 2008 until now.

But there are other very important terms such as condos that get at least half of the business. I have been affiliated with Condolux in some form or fashion for about 6 years. They pretty much rule every phrase that tourists might type in, having anything to do with Myrtle Beach vacation rentals.

I feel like through the last few years, many of the customers have discovered North Myrtle Beach through "our" websites, and now prefer Ocean Drive, Cherry Grove, and Crescent Beach to the crowded beaches in Myrtle Beach proper. They are also 99% very pleased with the service that Condolux offers, and both owners and vacationers return to the website each year. They no longer feel it necessary to search for a place to stay.

Those that are not familiar with the area and Condolux type in search phrases with many variations. Although "hotels" is the most popular term itself, if you add up all the variations, the total of them is as large or moreso than the one term. If they search for Myrtle Beach Condos, Myrtle Beach Rentals, rental condos, oceanfront condos, etc., Condolux is always right at the top.

That provides a high rate of rentals for the owners, a super large number of leads for sellers, and a nice inventory of condos to browse for those looking to buy. They also have websites for those looking at golf in Myrtle Beach.

Anyway, my point is that the market is not down for everyone in Myrtle Beach this year. Those who have the excellent reputations and reviews along with the best internet presence are reaping the rewards of hard work and market insight.

Myrtle Beach Real Estate

Investing in Myrtle Beach Real Estate

According to a new article on Realtor.org, more vacation property owners are turning their homes and condos over to rental management companies than ever before.

One management company said that owners could earn more money renting out a vacation home than in the stock market.

Myrtle Beach vacation rentals certainly hold true to that. In the case of condos that have been purchased recently with the discounted prices, owners not only end up getting enough in rentals to pay their expenses, but are actually making tidy sums from several thousand to $10,000. We will know for sure by the end of 2009.

That is one reason why it is such a great time to buy Myrtle Beach real estate.

Without counting a mortgage payment, the expenses for owning an average 2 BR oceanfront condo in Myrtle Beach are around $8000, and the average rental per year is around $16,000. (This is a huge estimate) When you turn the property over to a rental management company such as Condolux, they will charge you approximately 25 percent of the rental income, or in this case, $4000.00. Subtracting all that, an owner would have around $4000 left as profit.

The HOA fees, taxes and insurance would also be tax deductible in most cases, as would depreciation. So it's usually at least a break-even situation if not more. Since the prices right now are way below normal, when Myrtle Beach real estate prices start returning to normal the equity that builds up will be considerable.

It doesn't take a rocket scientist to see that buying a Myrtle Beach condo right now is a smart move. Stocks have their time, and so does real estate. Right now putting your eggs in the real estate basket is a smart move. And Myrtle Beach is the best place to do it.

Myrtle Beach real estate in the top 15 Healthiest Markets

More Good Real Estate News!

Just in time to add some oomph to the recent press release that some friends and I put out about our respective markets improving noticably in 2009, the National Association of Realtors® also issued a press notice today titled Existing Home Sales Show Surprising Gain.

The NAR release began with and expanded on this opening paragraph:

Existing-home sales rose unexpectedly while inventory declined, led by a surge of sales in the West, according to the National Association of Realtors®.

Highlights of their notice also include the following good news...

1. Existing-home sales – including single-family, townhomes, condominiums and co-ops – jumped 6.5 percent to a seasonally adjusted annual rate of 4.74 million units in December.

2. [a quote from Lawrence Yun, NAR Chief Economist]
“It appears some buyers are taking advantage of much lower home prices. The higher monthly sales gain and falling inventory are steps in the right direction, but the market is still far from normal balanced conditions. Buyers will continue to have an edge over sellers for the foreseeable future.”

“We’ve added 25 million people to our population over the past decade and housing affordability conditions are the best we’ve seen since 1973, but household formation is much lower than expected,” he said. “Consequently, there is a pent-up demand which could be unleashed with the right stimulus, including a non-repayable home buyer tax credit. The Obama administration and Congress need to move fast to stimulate a spring sales upturn which will help to stabilize home prices and set the foundation for a sustainable economic recovery.”

3. Single-family home sales: ROSE 7 percent to a seasonally adjusted annual rate of 4.26 million in December from a level of 3.98 million in November.

4. Existing condominium and co-op sales: Increased 2.1 percent to a seasonally adjusted annual rate of 480,000 units in December from 470,000 in November.

5. Existing-Home Sales By Region

Northeast: slipped 1.4 percent to an annual pace of 720,000 in December.

Midwest: increased 4.0 percent in December to a level of 1.04 million.

South: rose 7.4 percent to an annual pace of 1.74 million in December.

West: jumped 13.6 percent to an annual rate of 1.25 million in December and are 31.6 percent higher than a year ago.

6. Final Summary: A Good Time to Buy

NAR President Charles McMillan said it’s an excellent time for first-time home buyers with good jobs.

“The typical buyer plans to stay in their home for 10 years, which is the correct approach in today’s market,” he said. “With historically low mortgage interest rates, flexible sellers, a large inventory, and homes that are selling for less than replacement construction costs in much of the country, buyers who’ve been on the fence should take a closer look at today’s market.”

McMillan added that first-time buyers may want to consider an FHA loan, which offers downpayments of 3.5 percent on a safe 30-year fixed-rate mortgage.

Myrtle Beach real estate is showing the best signs ever of picking up and serving our vacationers. Florida oceanfront property is also gathering momentum, from Daytona Beach to Sarasota and the Keys. I think we can all be hopeful for a better 2009!

Hard Rock Park Public Auction

Our failed Hard Rock Park, having filed for bankruptcy earlier in the year, was supposed to have gone up for public auction today.

According to the city's newspaper, there was not much indication of a buyer present, even though city officials had shown the park to several potential investors. Most said there was not enough time to research the park and its potential income, and asked to delay the final auction.

Bidding started on Friday, and bidders were required to show proof of a 10 percent down payment and a net worth of $10, among other requirements.

One amusement company called PARC Management has recently purchased the Nascar Speedpark and Myrtle Waves waterpark, and has shown interest in purchasing hardrock, possibly finding a financial partner to help absorb the minimum $35 million pricetag. They say the "Hard Rock" branding would be changed to something more family-friendly, tickets would be much more in line with pricing, and they might do package deals with with other area businesses to increase sales. They also say that they do have the financing available to purchase the park, and have "submitted a letter of interest".

The shutting down of Hard Rock put yet another strain on the Myrtle Beach real estate market. Hopefully this can be worked out quickly and will work out to improve our local economy.