Myrtle Beach Real Estate Report

Gene Carter and The Beach Pro Team

1-800-872-4488

[email protected] 

www.MyrtleBeachAdvantage.com 

April 30, 2012
Volume 2012   Issue 04
In This Issue
Condo Financing Choices Abound
Rental Cash Flows Never Better
March Reports
Best Buys
Upcoming Bank-Owned Listings
Foreclosure Auction

Gene Carter CDPE
Gene

Professional, Courteous Service / 25 Years Experience / Oceanfront, Waterway & Golf Real Estate Specialist in Myrtle Beach, North Myrtle Beach, Little River, Surfside, Garden City, Murrells Inlet, Litchfield, Pawleys Island, Carolina Forest
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2200 Premier Resorts Blvd

North Myrtle Beach
South Carolina  29582
 

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News Flashes

   

 

IMPROVED CONDOTEL FINANCING

 

Interest rates continue to drop and more options have become available.  Contact me for details.

 

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Click on the "Calendar of Events" below for more happenings. 

 

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The current 30 year fixed interest rate is approximately  4% for our oceanfront developer owned condos in Sandy Beach II and Holiday Sands.  Over 50 buyers took advantage of the 65% price discounts and super-low interest rates in 2011.  Contact me for details.

 

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Quick Links...

 

Greetings!

Greetings from Myrtle Beach!

This April has been the busiest sales month I've had personally in years - 8 new sales worth well over $2 million. Even more amazing is that they were all condos and 6 of the 8 were financed purchases. Lenders are finally lining up to finance condos again. For more details, check out the article in this newsletter.

 

Last month I wrote about how surprisingly affordable the luxury North Beach condos are because of their high rental incomes and the current low interest rates. The fact is that there are a number of condos that are producing exceptionally high returns for resort properties. For more details, see the article below.

 

I've mentioned before how the downtown Myrtle Beach area is changing. If you haven't visited this area in recent years, you will be amazed. The following editorial in The Sun News gives an excellent overview. "MB's Downtown Phoenix"

 

And finally, summing this month's comments up on a couple of fun notes, the Coastal Uncorked Food and Wine Festival was this past week - new events, different venue - and the new owners of the Myrtle Beach Speedway are now offering racing experiences to the public.  "Coastal Uncorked to make MB Downtown Debut", "NASCAR Racing Experience Debut"

 

Hope to see you at the beach soon!

Condo Financing Choices Abound - Finally

North Beach Towers

What a difference a year makes. This time last year I was advising any potential buyers that they would
have to pay cash if they wanted to purchase just about any kind of resort condo. In recent months this
has all changed. I've had more financed sales in the first four months of this year than in the last three
years combined.   Click here to read more     

 

Link to "Financing Your Condo" 

Vacation Rental Cash Flows Never Better 

I've been specializing in resort property sales for over 25 years and I've never seen better returns on vacation rental properties. The combination of low prices, stable or even decreasing HOA fees, increasing rental incomes and, now, available financing at the lowest interest rates ever, has resulted in numbers....Click here to read more
March Reports

Below are links to several detailed reports on the current state of our local real estate market complete with statistics for just about anything imaginable.  Please keep in mind that these statistics cover a broad range of properties and that particular areas or developments may behave quite differently.  

 

Here are a few of my observations:

 

In March there were double digit increases in sales for homes and condos for 2012 over 2011 accompanied by double digit decreases in new listings.

 

"Best 1st quarter (# of sales) along the Grand Strand since 2007."

 

The average % of sale price to list price continues to hover around 93% to 94%.  I've seen the same percentage reported nationwide.  In other words, most of the price-dampening effect of distress sales is already incorporated into the asking price for listings that are priced at "market" value (These are the listings that are receiving offers and actually selling).  

 

As always please contact me if I can be of service in any way.

See link below to interpret terms used in these reports.

Myrtle Beach Market Update
North Myrtle Beach Market Update
Grand Strand Market Report
SC Monthly Indicators
Housing Overview

Real Estate Terms
Best Buys (My Picks)
Caribbian
Caribbean

The following current listings are exceptionally well-priced and represent great values.  This is a live link to listings and will change according to changes in the MLS (Pending, Sold, etc.)  Please call me directly if you find something of interest to you.

Listing Brochures:      Link to Listings
Listing Spreadsheet:  Link to Spreadsheet
Upcoming Bank-Owned Listings

Ocean
The following properties (see list) were recently purchased by various banks at our most recent foreclosure auction and I can arrange for you to be notified the moment any one or more of these properties are listed in MLS.....Click here to read more
Monthly Foreclosure Auction
(May 7th) 

I can arrange for you to acquire the property of your choice (see list) at  upcoming monthly Horry County foreclosure auctions.  My contact can purchase a property of your choosing at the auction within pre-determined parameters, allowing you to buy a "foreclosure" property before it is ever listed in MLS to avoid the inevitable bidding war if it is priced well.  Please contact me for details.

The following are my picks (see list) for best buys at the upcoming May 7th auction....Click here to read more
If you are considering buying or listing any property on the Grand Strand, or if I can be of assistance in any other way, please contact me.  Also, please feel free to forward this newsletter to friends or acquaintances and of course I will be happy to add them to my email list.

Finally, please let me know if you are going to be in the area and would like to get together.

See you at the beach!

Gene Carter
Beach Pro Team
Cell Phone:  843-455-4785
Email:  [email protected]
Website:  www.MyrtleBeachAdvantage.com

This newsletter expresses the opinion of Gene Carter CPDE.  Specific property information is deemed reliable but is not guaranteed.