Myrtle Beach Condo Sales On the Upswing

The Coastal Carolinas Association of Realtors finally has a bit of good news for those interested in Myrtle Beach real estate.

According to the local paper, they say that condo sales have started on the upswing, although home sales and prices are still down from last year in April.

April 2007 saw 865 home and condo sales compared to 520 in 2008, which is a 40 percent decline. There were, however 268 condo sales in April itself, which reflects a steady increase every month since the new year.

It's speculated that the prices are now in line with what buyers want to pay, and sellers have lowered their expectations to the same point...so more sales are happening every day. With the usual rise in sales from the summer vacationers, this is great news for the coming months.

Unlike many areas where luxury real estate stayed relatively level, the CCAR reports that the million dollar properties here are the ones suffering the most from the lag in Myrtle Beach home sales, and have a whopping 92 month supply of houses on the market right now. That is NOT good news.

They did report only an ll-month supply of homes less than $150,000, and say that the ideal market is less than 6 months. I'm not sure WHERE you would find a home in that price range except far from the beach, or perhaps a mobile home. Probably there would be nothing in a neighborhood where anyone would want to live. Certainly there is no cheap oceanfront property in that line, although you can find golf course condos for under $100K and not far from the beach.

April saw houses stay on the market for 163 days and condos much worse, for 254 days. That is over 2 months longer than 2007. However, the news column did say that one of the local appraisal companies reported as little as a 30-60 day time on the market for homes and condos in Myrtle Beach that are priced close to the appraisal value.

The market is down the most for the investment property in Myrtle Beach, such as oceanfront homes and resorts. It will be a while before we'll see the level of investor purchases that we had during the big boom of 2004-2005.

But things are looking up, finally!

Good facts to know: Over 10 years, a stock market investment that brings a normal 10% market rate of return would yield $23,600.

According to the NAR, the same investment used as a down payment on a home that appreciated only 5% would return as much as five times that same return, or $110,300.

See our Myrtle Beach real estate news blog!

Selling Myrtle Beach Homes and Real Estate

Shrubs and Strategy
Spring is the time of the year in our area when the tourists are coming down for Easter weekend. Many of them are from up north where they've spent weeks of bleakly cold and nasty weather, and the warm weather starts a month later there than it does in the south.

If you're trying to sell your home in Myrtle Beach, this is the prime time of year to get prepared. You've invested in updated appliances, cleared out personal articles, and painted and wallpapered the inside until it's squeaky clean and smells as good as a new car. What else can you do?

Don't Under-estimate first appearances
Whether it's in the photos you display for the MLS listing, the slideshow your realtor has on the website, or the first thing a potential buyer sees when they pull into the driveway, put some time and money into landscaping.

According to Southern Living Magazine, a 1999 survey conducted by Gallop Polls showed that good landscaping could add 7 to 15% to the market value of a home for sale. Smart Money Magazine advised investing 5% of the home's value in landscaping to reap a 150% percent return. If those numbers sound impressive, then read on.

Never have I seen what a difference a professional landscaping company can make until recently when the condominium complex I live in changed the HOA Board and went from having several full time amateur groundspeople to hiring a company to take over our landscaping. Our complex had grown shabby and mis-matched with attempts to make flower gardens, chopping down shrubs and just plain messing up the looks of the place.

Within a month of having a professional company take over, the look of the complex has become uniform. Plants are being placed correctly for the conditions, flowers are blooming at the entrance, trees and shrubs have been trimmed and shaped, and some of the holes created by removing perfectly good holly bushes and shrubs are being filled in for a look that is already making a difference in our overall appearance and sales potential.

Unless you've had professional training in lawn and plant care, or have the proverbial green thumb, you should hire a landscaping company to clean up your home's appearance. Don't go to Lowes and buy the little white bric-a-brac and some cheap flowers and turn your yard into Granny's pet project. Especially when it comes to real estate in Myrtle Beach or other resort areas, a buyer is expecting a certain look, and if your home isn't reflecting that look, they will look past it for the one that does.

Do have lots of colorful flowers and a green, green lawn.
But let a professional choose for you and do the all important edging and matching of colors that will add so much more than those tiny purple flowers under your yellow shutters and next to the pink hydrangias that make the neighbors wince from across the road.

Paint the porch, bring on the potted plants, and make a big ceremony out of the coming summer, but do it with a professional eye and make your house the one that gets noticed in photos and from drive-bys. Keep the walkways and other exterior elements to a single theme and watch the details.

Your potential buyers are watching too.

For more tips on selling Myrtle Beach real estate, or to get new Myrtle Beach MLS Listings in your email, visit our website at http://www.myrtlebeachcondos.net
If you're interested in 1031 Exchange information, contact us!
Also see our Beach Life Blog.

To Short Sale or Not to Short Sale....

Questions?
With no end in sight to the problems with the sub-prime mortgages, real estate owners are facing foreclosure and the damage that it does to their credit. As a last resort, sometimes a homeowner can negotiate with their bank or mortgage company to do a "Short Sale". This is when in lieu of complete foreclosure, your lender will let you try and sell the home for less than what you owe. They may or may not excuse the balance left after the sale.

This kind of sale can benefit both the buyer, the bank, and the seller. Though their credit is probably already damaged, late payments are not as crippling as a foreclosure, charge-off, or bankruptcy on a credit rating. If, and only if, the lender will agree not to report this as adverse to the credit bureau, it can be a great option to direct foreclosure proceedings.

The bank is neither obligated to agree to the short sale, nor to help your credit rating, so try all other options before you set out to short sale your home. A rate freeze might be preferable, and could allow you to keep your home until prices rise again or a buyer offers you enough to clear your obligation.

If the foreclosures are prolific in your neighborhood and the homes around you are losing equity quickly, the bank could be more agreeable to the short sale and your request to help save your credit. When this is the case, it's imperative that you move quickly, as every passing day affects the price you can ask, and the deficiency balance that will be left.

Tax Changes in 2008
One good thing this year, the IRS has changed the rules and will not treat any forgiven part of the mortgage as income. The Mortgage Forgiveness Debt Relief Act is part of the government's effort to help the beleagured homeowners.

Contact us to learn about buying homes in short sale, foreclosures in Myrtle Beach, or condos and homes in Myrtle Beach. We also service Pawleys Island, Little River, and Conway real estate.

Burroughs and Chapin Expand to Entire Southeast

Grande Dunes Marriott

Burroughs and Chapin Co. Inc is a name that anyone who has spent much time in Myrtle Beach is very familiar with. They own most of Myrtle Beach, I think it would be safe to say. They owned the Pavilion, and the strip of near beachfront land it was on. They developed and own Broadway at the Beach, Grande Dunes, Coastal Grand Mall, Nascar Speedpark, Myrtle Waves, and numerous hotels, golf courses, and other huge projects.

I think they probably owned most of the land that other things are on at one time. They control our politics and most of what goes on with Myrtle Beach as a city. They are probably the single largest owner of Myrtle Beach real estate that exists.

According to an long article in the Sun News, they are now going to expland their interests outside of Myrtle Beach and more into North Carolina, and even Tennessee, Georgia, and Virginia. Is this the Southeast's next version of a corporate Donald Trump?

B & C is also one of the county's biggest source of jobs and employment, in the past providing 1400 full time jobs and 1000 seasonal ones when the Pavilion was viable. Certainly the closing of the Pavilion will change the demographics of our summer workforce. Not sure if this will have much of an impact on the economy here or not. Most of those employees I think were teenagers, and many were imported from Russia and other far-away and sometimes exotic countries.

With our new resort status revolving so much around the high-priced Myrtle Beach condos and golf course villas, these kids would have probably been hard-pressed to find decent housing, so it might be a good thing to reduce their numbers. What most of the vacation rental companies and resorts are doing now seems to be shipping in maid support from places like Jamaica, and piling them into the old leftover beach houses, 10 to 20 deep, and then shipping them home when the season is over. Like the Hispanic populations who make up most of the restaurant staff and landscaping jobs now, it's cheaper and easier to give them the jobs for the season than to constantly be dealing with teenagers and spoiled young local people, I would imagine.

Burroughs and Chapin go on to say that they are often approached by interested parties to sell some of the giant amusement places and shopping complexes, and do not rule out selling anything for the right price. A new CEO, Jim Rosenburg, took over in August, and is the leader in the idea of transitioning over into other areas.

"We're willing to play a different role outside of Myrtle Beach," Rosenberg says. "We're prepared to bring in whatever expertise somebody needs for a joint venture. We're finding that there's families out there that own large tracts of land that don't know what to do with it, and they are starting to hear about us. They know we're a family-owned company and are coming to us knowing we're harmless."

I don't know personally how "harmless" they are or aren't, but it should be interesting to see the company grow and expand in the future, and to see how that affects the massive developments they've contributed to the economy, as well as homes and condos in MYrtle Beach, SC.

Warning: Foreclosure Scams Abound

A nasty foreclosure scam has turned up in California that federal officials have indicted 20 people for involvement.

It's complicated, but involves a scam known to include "Straw Buyers".

According to the MetroTex Association of Realtors in North Texas, Straw Buyers are described as "loan applicants that perpetrators use to obtain home loans, but who usually don't intend to occupy the properties they're buying."

Scammers will pay someone (the straw buyer) to use their name and credit information on a mortgage application to buy a home. The individual isn't buying the property and probably has never seen it. They merely sold their name and good credit.

The scam artist will then often take over the payments on the mortgage, and assume title to the home. What they do with the mortgage or home title can vary. But both are guilty of fraud, The straw buyer can also end up being responsible if the lender forecloses and there is a deficiency balance left over.

In this recent scheme, scammers have allegedly made about $12 million from over 100 victims that they tricked out of their homes. Charles Head, 33, of Los Angeles is accused of orchestrating it all, using 2 different "foreclosure rescue" companies to strip equity and take over properties from distressed homeowners, who pay the scammers extra, and end up losing their homes on top of it all.

Prosecutors say that the criminals approach distressed buyers and offer to save them from foreclosure by taking over the mortgage, making it current, and the homeowners then add the criminals to the title of the home.

Some of the 20 indicted people were used as "straw buyers"...being paid to take out equity lines on the property after being added to titles.

Eventually, the scammers may sell the homes, stop making the mortgage payments, and/or being eviction proceedings against the victims...who are now out of a home as well as their equity.

A second indictment from a federal grand jury also included Head and 2 others from the original indictment with other equity-stripping schemes that have added another $5.9 million in losses to other victims on a nationwide level.

The Metrotex BOR list several red flags that consumers should watch for in general to avoid being involved in a real estate fraud scheme. In these cases, three listed would have indicated a problem:

*Amended Contract to Reflect a New Purchaser.
*Multiple Transactions Between Affiliated Parties
*Agreements to be Performed "Outside or After Closing"

Buyers and homeowners need to be on their guard against any company that promises unusual help or a magic way to avoid foreclosures. Try everything you can to work things out with your bank or mortgage company, and don't believe everything you hear.

For information on foreclosures in Myrtle Beach SC, visit our Myrtle Beach Foreclosures website and contact us for a listing of available properties. Search the MLS for Myrtle Beach Real Estate at www.myrtlebeachcondos.net

Myrtle Beach Real Estate Market Improving Slowly

When ex-President Bill Clinton visited Myrtle Beach recently, he spoke about Hillary having a plan to help the housing crisis by requiring a moratoriam on foreclosures. Though it would have been ineffectual by the time the November elections come around, it may have sparked an idea in President Bush to implement a similar government control.

The Bush administration has announced "Project Lifeline", which has assembled 6 of the country's largest mortgage institutions and had them to postpone foreclosures on qualified homeowners for 30 days. The financial entities will hopefully go out of the norm to help with re-writing and refinancing the past due mortgages...thus saving at least a few foreclosures from happening.

The lenders involved were JPMorgan Chase, Bank of America, Countrywide, Citigroup, Washington Mutual, and Wells Fargo. They have agreed to contact homeowners that are 90 days or more past due, and attempt to lower payments and work to help them keep their homes.

While this could offer help to a select few, a large number of buyers are letting their homes go back due to negative equity and the fact that the home they purchased is unable to be sold for what they financed. Lenders were far too liberal with giving "down payment loans" (which are no more than 2nd mortgages) and financing homes to the point that the buyer has no money to lose by letting them go back - in fact making them feel like foreclosure is the wiser choice.

Myrtle Beach foreclosures are not that high for primary home buyers. The majority of Myrtle Beach real estate problems are with with investment properties, and resulting from those who entered the preconstruction game too late. Several of the resorts in Myrtle Beach and North Myrtle Beach condos had escalated in price by the time of closing that they are no longer appraising at those prices. But from Pawleys Island real estate to Little River, our market is stablizing now, and prices have reached a plateau.

We will hope that the usual upsurge in purchasing and prices will happen as always when our season kicks in, and vacationers fall in love with our area enough to want to have their own place at the beach.

Foreclosure Bug Bites the Millionaire Market, too

.................................................Marco Island, Fla.
..................................................................$1.05 million
In South Florida, on the Western side of the state, Marco Island is a resort community, filled with beachfront hotels. This four-bedroom, three-and-a-half bathroom home was built in 2004 and has 2,700 square feet of interior space. The red-tiled, Mediterranean-style house also has a backyard pool. It is listed through First Preston.

According to Forbes.com, the foreclosure problem is now starting to affect the very wealthy, and to include many million dollar plus properties in ritzy neighborhoods. It seems that the shady mortgage companies also loaned money for luxury properties to those without the luxury bank accounts.

They used a couple of well-known foreclosure websites, specifically searching for homes and condos for sale that were in any stage of foreclosure, including the REO, or bank-owned listings.

The surprising findings included owners with strong credit scores and qualified in that category, but with excessive loan amounts, little or no money down, and income that could not support the expenditures. Quoting a demographics and housing research company executive, they reported that people with $100K annual incomes were granted million dollar loans. That was obviously not going to fly if the properties had to be held instead of reselling...which of course happened when the market suddenly cooled in 2006.

Humorously, these homes were referred to as McMansions. (McDonalds pocketbooks sporting movie star properties one assumes!)

When property prices jumped so high in 2005, it was a good thing for those who had purchased them the years before and then sold for double and ran with it. But for those who got in too late and BOUGHT at the inflated prices, it presented a real problem. Myrtle Beach real estate had some cases of this, particularly in several of the preconstruction resorts going up at the time. We preached and preached about "getting in early", but there are always those that wait just a little bit too long and miss the boat.

This will happen with Myrtle Beach foreclosures and this buyer's market that exists right now as well.

Too many people are waiting just a little too long, trying to gauge the market to the very last penny...and that is not always prudent. Myrtle Beach condos that are right now at rock bottom prices are going to escalate at least a bit when our vacation season is in full swing, and the deals that are there in February and March will probably be much better than those in June and July.

And we hope that the upward pricing will kick-start the market and prices will continue to rise. The article went on to cite a home in Washington DC that had dropped in equity by $140,000, and with the bank foreclosure pricing, it declined in value by $300,000. That is what hurts the market and further lowers the prices. The more foreclosures that are listed or sell at these below value prices, the more it erroneously causes the statistics on regular housing to appear higher than what consumers are expecting it to be.

Thankfully, banks don't like to drop prices below the loaned amount, or things would be even worse.

Florida has the second highest foreclosure rate in the country, but brokers say that even as it pulls in more traffic from speculators looking for that low price, sellers are refusing to buckle under the pressure and give their properties away. I think that is true with our upscale Pawleys Island real estate market, as well as the high end homes for sale in Myrtle Beach, such as Grande Dunes or some of the waterway mansions. If the owners can afford to sit tight, the market is going to eventually bounce back and not cause such a loss in value for the wealthy as well as the regular residents and vacation home buyers.

Help on the Way for Myrtle Beach Real Estate Market

Forbes.com recently reported that there was good news coming for the real estate market, and particularly in areas such as California's San Diego and others whose home prices are bordering on the outrageous.

Coldwell Banker's annual Home Price Comparison Index listed areas in all 50 states with average home prices. California was pretty conspicuous in that it was in with only a handful of places where the same home that costs $200,000 - $300,000 all over the country is over a million dollars.

Point being, that a new provision in the Economic Stimulus Act of 2008, Bush's attempt to do something to help the economy, calls for the Government Sponsored Enterprise, or GSE lenders Fannie Mae and Freddie Mac to increase their loan limits to 125% of a city's mediun home price.

If the Coldwell Banker figures are accurate, that would amount to a whopping $312,750 increase to the mortgage cap for Beverly Hills, whose average home was listed at $1,656,500. That is a lot of money for the government's already empty coffers to take responsibility for. It would help San Francisco, whose average is 1.3 million, and Boston at 1.2 million as well.

Previously the government loans had a maximum cap of $417,000, and still won't cover more than $729,750. But that would allow 32% of homes in Los Angeles to be included, and 18% of San Diego. With credit less risky for banks, they will be able to offer more mortgages in this capacity, which right now is badly needed. Since the blow-up of the sub-prime lending, mortgages have toughened to the point of being a hardship on everyone except those with stellar credit and six digit incomes.

And it is good news for the rest of the country as well. The average price of a home in Myrtle Beach, SC is $191,584, according to Coldwell Banker, so now a government guaranteed loan of $239,480 would be possible on that same property, if used as a primary home.

Forbes goes on to say that the provision will help to lower interest rates. Conforming loans will carry lower rates, and will make home buying more affordable, as well as opening the door to re-finances, and hopefully pulling some of the ARM loan victims out of their dilemma.

Perhaps that will limit some of the Myrtle Beach foreclosures, spur the sales of Myrtle Beach condos, and boost the overall beach real estate market.

Lowered Prices in Florida and Myrtle Beach

Baywatch Resort

Fortune Magazine's reporter Jon Birger recently announced that beachhouses and condos for sale in Florida have been pushed to drop their prices by 25 to 30 percent, with plenty of oceanfront condos in the $400,000 range.

He goes on to say that prices in Cape Cod and Hamptons up north have seen little change. The wealthy in these northern beach areas are SO wealthy that their real estate prices are insignificant. It seems to be that true luxury property everywhere is unaffected by the whims and pricing of regular homes.

Myrtle Beach real estate has certainly seen prices drop somewhat, but taking into consideration how much they increased several years ago, the overall picture is not as bad as one might think.

Traditionally, condos for sale in Myrtle Beach have been several hundred thousand dollars cheaper than a comparable Florida beachfront condominium. Where their averages were usually a half million or more, ours are about $350,000.00. Now there are quite a few available for right around $300,000... Baywatch Resort in North Myrtle Beach comes to mind. They have come down a bit, but are still holding their value, due to their overall popularity as vacation rentals.

Likewise our new resorts such as Bayview Resort, Prince Resort, and the recent condo-conversions such as Coral Beach Resort are holding their prices fairly well.

Our insurance is lower than florida. Our property taxes are definately lower than Florida.
Our cost of living is low, and our winters mild. If you are dead-set on permanent warm weather and miserable summers, then perhaps Florida is worth the extra several hundred thousand.

I do think that more and more of the northern retirees are looking at homes in the Carolina's instead.

We've got more to offer at a better price than almost anywhere on the eastern seaboard. Browse through our listings of Myrtle Beach condos at www.myrtlebeachcondos.net

You may be eligible for a tax exclusion, but do your homework first

Interesting Q & A from an article in the Bellville News Democrat

Q. In response to a reader who owned three rental properties in addition to his primary residence in Irvine, Calif., you said he could not do a 1031 exchange on his personal property. We've got title companies and aggressive CPAs here in San Jose, Calif., who are suggesting this scenario for highly appreciated properties.

It's pretty commonplace that someone bought a property for $400,000 and now it's appreciated to a $2 million house. Say you've bought a house for $400,000 years ago here in Northern California. You bought in a good community and now the same property is worth $2 million. So you've definitely lived there for five-plus years, although I guess two years should be enough for our example. You move out of the property and rent it for two years, or a year if you're aggressive. You then sell the property as an investment property.

Because you've lived in it for two of the last five years, it should be eligible for a 121 exchange. Since it's also been an income property for two years, after taking your 121 exclusion, you should be eligible to take the balance in a 1031 exchange since it does qualify under a like kind exchange. So you've now pulled $250,000/$500,000 out under a 121 exchange and you're pulling the balance out and deferring gain into another property in a 1031 exchange. I know this is aggressive, but will it hold water?

A. Yes, the strategy that you have outlined will work, but you must be careful to establish investment intent. Because you have lived in the property for two out of the last five years, you will qualify for the 121 exclusion providing tax-free profits on the sale of a personal residence of up to $250,000 for a single person or $500,000 for a married couple.

The 1031 tax-deferred rules are based on the premise that the property that you own is eligible if held for investment or used in a business. It is important to understand that the IRS will consider the intent of how the property is used at the time of the exchange. This allows the owner the opportunity to change the use of the property from a primary residence or vacation property to an investment property.

As part of demonstrating intent, you should rent or attempt to rent the property for fair market value, report rental income on your tax returns, and depreciate the property. The tax code does not address any required amount of time that this must be met to qualify for 1031 tax status. My 1031 exchange intermediary friends feel that logic dictates a two-year holding period or two-year tax cycle as a reasonable amount of time.

Dr. Thomas Musil is the director of the Shenehon Center for Real Estate in the Opus College of Business at the University of St. Thomas in Minneapolis. He has more than 25 years of experience in real estate as a broker, analyst, consultant and expert witness in real estate litigation and arbitration disputes.

Myrtle Beach Real Estate Market Expected to Rebound in 2008

According to a recent article in the Sun News, a research economist with Coastal Carolina has optimistic hopes of the Myrtle Beach real estate market coming out of its slump by the end of 2008.

The economist, Don Schunk, explained that with home prices staying low or perhaps falling lower, sales will increase, which should use the present inventory of homes and condos for sale. Providing mortgage rates stay low, this should help the market balance with supply and demand by the second half of the year.

According to the SC Association of Realtors, homes and condos in the Myrtle Beach area rose 4% in 2007, but the slow sales since then have caused some sellers to reduce their prices low enough to induce sales and reduce the amount of homes on the market. Other owners removed them from the listings rather than to take such a reduction in price. According to the Association, the number of listings dropped from 14,720 to 14,150 from November to January.

Foreclosures in Myrtle Beach may continue to escalate due to the mortgage crisis in the nation, and William Harrison, director of the center for Real Estate at USC feels that this could make prices remain unnaturally low through the year until 2009.

He explains that resort areas and communities can "become stigmatized" by having high levels of foreclosures, and the lowered sales prices of the forced sales can add pressure to regular sellers to lower their prices as well.

Investor and speculator buying has decreased dramatically, which leaves most sales coming from those who intend to actually use the homes and condos for vacation purposes, which is a good thing for the economy in the long run, but also adds to the more sluggish market presently being experienced. Harrison estimates that there is about a 23 month supply of condos and a 15 month supply of single family homes presently on our market, from Little River to real estate in Pawleys Island and Litchfield.

There are still numerous excellent options for potential buyers at this time, and some brand new communities such as Market Commons, Withers Preserve, the new Westgate Resort, and North Beach Plantation in North Myrtle Beach are available for those who prefer preconstruction and new homes to previously sold real estate. Tom Maesar, who is the market analyst for our local CCA Board of Realtors predicts prices and sales to rebound this year as well, and cautions buyers to be careful when waiting until the very end for prices to bottom out. Prices and inventory can begin to increase, and mortgage rates could rise enough to offset any extra savings that might come from waiting to get that rock bottom price that may not happen.

The inventory to choose from at this time is as good as it gets, and those interested in purchasing property in Myrtle Beach should seriously consider taking advantage of today's market for buyers while it lasts. We invite you to use our new MLS presentations and web resources to find the best deals on the best resorts and homes available in the Grand Strand.

Contact us for information and advice from the most experienced agents in Myrtle Beach condos and homes.

Expansion of Convention Center Can Pep Up Myrtle Beach Real Estate Market

The Myrtle Beach Convention center was built in 1967 as a simple civic center. Starting in 1976, it's added a 100,000 sq ft exhibit hall, grew an extra 50,000 ft, and added the Sheraton Hotel, a 400 room top quality facility.

According to city spokesman Mark Kruea, the center hosted 104 events last year: 42 trade shows, 17 consumer shows, 19 corporate conventions and 26 other activities such as concerts or competitions.

In city fiscal reports, it was indicated that this brought in more than 520,000 visitors, and annually it typically brings in around $35,000 to the area.

In 2004, the state of South Carolina granted Myrtle Beach $7 million to buy land for expansion, with the caveat of beginning work by 2009 and doubling the size of the center by 2014. Architect Steve Usry has recently submitted designs for a total 1,350,000 sq ft mega-complex that will provide space to host at least two conventions at the same time, and add another hotel with parking facilities.

Brian Monroe, director of marketing and sales told the Sun News that if we can improve our roads and air traffic abilities, the convention center can increase monetary contributions to Myrtle Beach, and bring even more people to the city. There are plans to add a performing arts center that can be used for shows, lectures, guest speakers and more. This is exciting news that will put Myrtle Beach ever closer to being a culteral resort such as Sarasota or even New York City.

It is conceivable to picture the downtown Myrtle Beach area, with its plans for other widespread renovation becoming an urban culteral mecca that increases the price of Myrtle Beach real estate and should heat up the market of home and condos in Myrtle Beach to levels of several years ago. Our overloaded concentration of resorts in North Myrtle Beach can use the boost of visitors, and even Surfside, Garden City, and Pawleys Island condos and homes can benefit from their proximity to the convention center.

The future of Myrtle Beach and the Grand Strand is an exciting one, and our beautiful coastal town is about to become a national vacation resort with jobs, attractions, and a lifestyle that is second to none! We are experts in property and Myrtle Beach condos for sale. Let us help you explore the possibilities of living in our paradise.

Myrtle Beach Animal Shelters Need Help!

I just saw an article in the Sun News that said the company who usually donates the dog and cat food to our 3 animal shelters has put their donations on hold for as long as 6 weeks, and it will put a crunch on the shelters' ability to help our homeless animals.

According to the Sun News:

Mars' Masterfoods USA has temporarily stopped providing animal shelters and centers with pet food while the works put in place a new system to more efficiently track its donations, company officials said.

At least 80 to 90 percent of the pet food used at area humane societies comes from the company, according to officials at the local agencies.

"Before, each individual plant gave donations," said Debra Fair, public relations manager at Mars Petcare US. "It was harder to grasp and collect data. We want to centralize the product and monetary donations. It will allow the process to go faster and we will know instantly where donations were given."

During the suspension period, officials from the Grand Strand, North Myrtle Beach and Horry County humane societies say they will rely on what they have on hand, and some already have applied to other pet food providers for donations.

Please open your pockets and make donations or bring some food to your local shelter. These pets have it hard enough without possibly having to make do with inferior food or less treats than they already have. Donations to the Humane Society are tax deductible, and they will help your Karma along, too. I have always found that whatever you give, you will get back three-fold.

Please help if you can. Here is the contact info for all three shelters. Choose one and make a difference in an animal's life. And while you're at it, you might want to consider giving one of these beautiful animals a home.

Horry County Humane Society 843-915-5172

http://www.horrycountyhumanesociety.com/

Grand Strand (Myrtle Beach) Humane Society 843-448-9151 http://www.grandstrandhumanesociety.com/

North Myrtle Beach Humane Society 843-249-4948

http://www.humanesocietynmb.org/

Bringing Your Pets to Myrtle Beach

I ran across an interesting website that should be publicized because we get so many questions about tourists bringing their pets on vacation.

Particularly in the winter when northerners and Canadians like to come and spend several months with us, they are often wanting to bring their dog or cat with them...and who can blame them? I couldn't live without my cats that long! There are several large hotels in Myrtle Beach that will allow them, but most are not oceanfront. I have seen a couple of the very small mom & pop motels in North Myrtle Beach that accept them. Most are privately owned and the owners also have pets. But it's hard to find one.

Here's a website that will help. This is how they describe themselves in their press releases:

BringYourPet.com allows hotels and travelers to connect in a way unlike any other. For instance, if a traveler is looking for a pet friendly hotel in the heart of Myrtle Beach, they simply click on South Carolina, scroll down to Myrtle Beach, and then choose the hotel that best fits their needs. Retreat Myrtle Beach and Majestic Shores are just a couple of hotels that travelers can find listed on BringYourPet.com. Looking for a little history while visiting the beach? Then head on down to the Ashley River Inn where you're just steps away from the historic district of Charleston. Need a pet friendly vacation rental on Kiawah Island, SC? KiawahVacationRental.com is also an option listed on the South Carolina lodging page. No matter where you want to go in South Carolina, BringYourPet.com is sure to have you covered.

Check them out. Looks like a good resource for pet owners that come to our beautiful beach.
A word about condo rentals as vacationing spots... Most of the condo HOA's allow owners to have pets, but not renters. Be sure you ask before you bring your pet!

Better yet, let us help you buy your own Myrtle Beach condo so you can enjoy your vacations completely without worrying about finding a pet-friendly condo or hotel. We are the experts in Grand Strand homes, from Little River condos to Pawleys Island real estate.

Myrtle Beach Real Estate – Selling Advice

We’ve all heard of curb appeal. A couple flowers here and there can really make a difference on your bottom line. But, what about the inside of your house? Could you take a couple of hours and transform a room to make it more attractive to potential buyers? What if you had to use mainly what was already in the room and had only a small budget of $250.00?

In February Realtor Magazine did just that. Two professional stagers, along with a camera crew and some helping hands went to a Chicago area home and staged three rooms: a home office, a bedroom and a living room.

The stagers were able to demonstrate how a little imagination, some well-placed accessories and reorganizing can make a property shine and stand out in today’s slow market. In resort areas such as Myrtle Beach, real estate sales must compete with hundreds of properties. Every little thing could make the difference between a sale or a pass over.

A sales person for Coldwell Banker Residential Brokerage in Chicago, Mark Jak, ABR, told Realtor Magazine that buyers were increasingly relying on the internet to narrow their choices, so staging was important not only for showings, but for internet photos as well.

A relatively small investment can net big increases in value.

HomeGain conducted a survey in 2003 and found that staging could increase the sales price by $2,725 to over $2800. Getting rid of your clutter and deep cleaning could add between $2,093 to $2,389 to your bottom line.

There are several companies that now specialize in staging. One of those companies, StagedHomes.com found that staged home sold for almost 7% more than homes that weren’t staged. An oceanfront condo in Myrtle Beach can look like a masterpiece with the right furnishings and touch-ups, or a neglected, seldom updated rental unit with the wrong ones.

These statistics have lead to a upswing of homeowners interested in staging. StagedHomes.com offers an credited Staging Professional designation course and has had an increase in enrollment of 49% in the 6 months ending in March 07, compared to the six months before.

The great thing about the makeovers is that they don’t have to take a lot of time or cost a lot of money. One stager relied on things she already had. Another professional stager says that first impressions count, and she only stages the main hallway and areas that can be seen from the entryway. The main living area, kitchen, master bedroom are the areas where the buyers usually base their decisions.

Getting rid of clutter is important and Professional Stager, Lori Matzke says to tuck away anything smaller than a football.

Real Estate agents are starting to include staging as part of their services, either doing small jobs themselves or hiring a professional stager. The cost of a professional staging can range from $500 to over $1000 for an average-sized home. Prices normally include carpeting, painting, accessories and labor. Costs can go higher depending on the extent of the work necessary and the size of the areas to be staged. Occasionally stagers will rent furniture if the situation warrants it.

Convincing a seller that their home needs sprucing up has to be handled with kid gloves. Barb Schwartz of Staged Homes.com uses an example of detailing your car before you get ready to sell it. Your home is an asset and detailing it is a smart choice.

One realtor says that sellers have been living with clutter for years. They don’t even see it anymore. A great way to get past that obstacle is to bring pictures of similar homes with clutter and it makes the issue more apparent when you show the homeowner the similarities.

If you are having a hard time selling your Myrtle Beach condo or home, call The Myrtle Beach Condo Store and let us help to market it in a way that will make the most of your investment.

***Posted by Mitty. Visit her blog Beach Life Blog for more articles.

Pawley's Island Real Estate and Debordieu Colony

Only minutes from Georgetown is one of South Carolina's most prestigious neighborhoods, DeBordieu Colony. Miles of coastline, golf, tennis, and Carolina charm combine to make this one of the East Coast's most extraordinary private communities. My wife Lisa started vacationing at DeBordieu with her family over twenty five years ago, and has always said some of her fondest childhood memories were at DeBordieu. It's also only minutes away from the fine restaurants and shops in Pawley's Island.

It has always been known for having some of the most beautiful scenery in South Carolina, combined with the best amenities a community could offer!

DeBordieu has some of the most luxurious homes in Pawley's Island. Whether you are looking for a primary residence, second home, or investment property DeBordieu has something for everyone with the finest taste in mind!

DeBordieu is well known for having some of the most exclusive homes for Pawley's Island Real Estate. You can now pick up a home with ocean views for around $2, 500,000.

The community has only 1,250 homesites on 2,700 acres and hundreds of undeveloped acres that have been established as a wildlife preserve.

Myrtle Beach Condo Store represents anyone who is interested in real estate in Myrtle Beach.

Greatest Real Estate Agents in the World Contest

Mike Benton from Myrtle Beach has just entered the Greatest Real Estate Agent in the World contest

The Myrtle Beach Condo Store and Myrtle Beach Condos.net
will be the sponsor.

We wish Mike and his team the best of luck.

"SPRING" is on its way and the there will not be a better time to buy a piece of oceanfront in Myrtle Beach. Developers, Builders, and Sellers are more motivated than ever to unload condo inventory. With long term interest rates on the way down and prices at three year lows, now is the time to buy. There will be people walking around Myrtle Beach in two years saying "Would of" "Could of" and "Should of". Don't be in the would of, could of, should of club.

Why would investors want to wait until prices started to to climb again to get back into the market? By that time you would have missed the move. Great investors such as Robert Kiyosaki and Donald Trump made most of their fortunes during down markets.

Areas like the homes in Pawleys Island and Litchfield Beach attract both families and retirees. These areas have some of the best health Care and schools along the Grand Strand and have not always been affordable until now!

Between the golf course homes in Little River and the oceanfront Myrtle Beach Condos we have so much to offer to all!

Our team has over 30 years of real estate experience here to serve you!

East Coast Real Estate

Poll: Where You Want to Live

Miami might be a nice place to visit, but only 3 percent of those polled by Zogby International would like to live there.

San Francisco led the pack among cities where people would like to live with 13 percent saying they would move there if they could. It was followed by Chicago, Orlando, New York, Las Vegas, and Houston.

The national poll, which was focused on Miami, rated the city’s high and low points and compared it with other major cities in the nation.

About 42 percent of those polled had visited Miami, but they ranked the city sixth out of eight major American cities as a vacation destination. The first choice was San Francisco, garnering 19 percent of the sentiment. Orlando came in second with 14 percent choosing it.

Source: Reuters News (01/31/08)

Other than in the east, people are just not that familiar with Myrtle Beach. That's a shame, too.
I think we have more to offer than Miami...other than year round heat. And Orlando is utterly miserable in the summer. Maybe our new Hard Rock park will put us more on the map.

Check out our Myrtle Beach Real Estate offerings with our new Myrtle Beach MLS search tools.

SC Trying to Prepare for Hillary's Insurance Reforms?

Saw this in the news. Governor Sanford is suddenly trying to help small businesses with employee insurance costs. Kind of seems like the message is getting through that people are going to have insurance whether it's through the government or not.

I found it interesting that the SC Board of Realtors provides their employees with insurance.

Having lived in North Carolina, I have to say that this state (SC) is not up to par with health insurance. The emergency rooms stay full because of it, too. And the tax payers end up paying for it anyway...higher insurance premiums because the hospitals charge more to make up for the ones that don't pay because they have no insurance.

Although Realtors can get insurance through the board, it's very costly.

Sanford calls for small-business health care, DUI, illegal immigration reforms

Monday, Jan 28, 2008 - 06:32 PM Updated: 10:59 AM
By Charles Tomlinson
E-mail

FLORENCE — Gov. Mark Sanford visited a Florence business Monday to discuss three reforms — one of which aims to help small companies lower their health care costs — that he hopes are passed within the first 30 days of this legislative session.

Sanford spoke at Adams Steel on Sandwood Avenue during one of four stops across the state Monday.

“Small businesses are the front line of job creation in South Carolina", he said.

"A bill that has passed the Senate would allow small business owners to band with at least 10 other employers to form nonprofit cooperatives that could negotiate cheaper health care rates.", said state Rep. Phillip Lowe, R-Florence, who joined Sanford along with state Rep. Kris Crawford, R-Florence.

Realtor Aubrey Richardson of Florence, who attended on behalf of the S.C. Association of Realtors, said health care costs for his employees are more than $2,500 a month.

“We’ve got to sell a nice house in order to pay that bill,” he said.
Lowe estimates employers could save at least 13 percent, Richardson said.
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The Myrtle Beach Condo Store and all of its partners are licensed as SC and Myrtle Beach Realtors . Visit our Myrtle Beach real estate condo site and check out our new MLS tools!

Myrtle Beach Real Estate Websites

We have several new websites and updates to the regular sites to announce.

A brand new site about 1031 Exchange is up and running at http://www.1031commercial.com/. It's not complete. We are conferring with Doug Clayton, my partner and a 20 year veteran experienced in the field, to see what he feels is the most helpful information to put on the site, and to better coordinate it with his company.

The IDX and MLS listings for condos in Myrtle Beach (http://www.myrtlebeachcondos.net/) is coming along very well, and we are getting what few bugs remain, ironed out. The Personal Condo Locator, or Automated Myrtle Beach MLS Emailer is proving to be VERY popular. We are getting quite a few signups and inquiries from interested buyers. The Coastal MLS was extremely messy, with multiple duplications and mis-spellings that we are working through.
If you are interested in browsing through our homes for sale, be sure and check it out.





An older site, New Myrtle Beach Resorts is being re-designed and we will have new featured properties on there. We have a small hotel in Myrtle Beach that we need some long term rentals for, and several beach houses that we'd like annual renters in. We'll be listing them and hopefully getting some interested applicants.

We are trying to decide exactly what to do about a general Myrtle Beach real estate site. For right now we are still thinking about the Homestore site. It's not a definate decision, though.

Avoiding Foreclosure

From our local CBS tv station, WBTW
Monday, Jan 14, 2008 - 06:35 PM

By Michelle Carolla
E-mail Biography

Across the country the foreclosure rate remains high. If you're facing foreclosure, there are options. It may seem like there's nothing you can do if you're multiple months behind on your home mortgage payments. Fortunately, you can possibly fix the problem with a little help.

We asked mortgage advisor Bill Blackburn of Myrtle Beach for some advice. He said the most important thing you can do is address the problem.

“If you're not responding to the letters, you're not responding to the phone calls, what is a lender to do? They're going to turn it over to the collection department,” said Blackburn. The collection department is going to turn it over to an attorney." This will tack on attorney fees and more penalties.

Some of the options to avoid foreclosure include:

Reinstating your loan--This is paying your past due amount in a lump sum.

Forbearance--This allows you to delay payments for a short time.

Repayment--can allow you to catch-up by adding a dividing the past due amount and adding to new payments.

Along the Grand Strand area, foreclosures are mainly affecting the investor market. The average home price is also holding steady at $271,000 dollars and not falling like many areas of the country. Even with homes staying on the market longer, industry experts say the resort area status is once again helping the grand strand.

If your loan is with the Veterans Association or HUD, they offer counseling services that will look at your particular situation.

VA Regional Loan Centers-- 1-800-827-1000

You may receive mail or calls from companies looking to buy your house or loan. Make sure to check them out thoroughly with the Better Business Bureau and ask for references.

The other fallout of the foreclosure market is bad credit. Non-profit credit counseling agencies can assist you with repairing your credit.
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If you are interested in finding foreclosures in Myrtle Beach or attending a real estate auction, visit our website for Myrtle Beach Real Estate for Sale.

Some Internet surfers buy houses sight unseen on real estate sites.

Web changes way homes are bought
Some Internet surfers buy houses sight unseen on real estate sites.
By Sanford Nax / The Fresno Bee
12/29/07 17:43:07

It's not often that someone buys a new house sight unseen, but that happened recently at Lennar Homes in Fresno. It was an unexpected consequence of the Internet age.

A Visalia native now living in Phoenix was eager to return to the central San Joaquin Valley. He clicked onto Lennar's Web site at 11:26 a.m. Nov. 10 and engaged in a live chat with Shelly Slaven, the builder's Internet sales coordinator.

"I'm interested in the home on homesite 202," the Phoenix man said. "I was wondering what the price is on that home at this time?"

Slaven responded, "The price listed is $269,025. It will be ready this month."

The duo chatted online for 22 minutes, with Slaven noting that models were available for viewing. "I don't need to see the models," the would-be buyer said. "Everything I need to know was on the Web site. ... It has the floor plan and pictures online, so that's good enough for me."
He bought the house within a week.

Buying a