Greetings from Myrtle Beach,

I wrote an article a while back about how big announcements for new developments and other exciting projects had started appearing again on a regular basis after a lull during the recession. The trend is accelerating. In the past few weeks alone, there have been announcements for several new oceanfront hotels and a large proposed oceanfront time share resort (link to article). The city of Myrtle Beach just voted to move forward with a 100,000 square foot indoor sports facility (See the article below on sports tourism). Also, the long-awaited next phase of Highway 31 is getting ready to start construction as well as several other large-scale road construction projects. I can't wait to read tomorrow's newspaper to see what's coming next! If you want to keep up with the latest announcements, check out the News/Useful Info section of my website for up-to-date press releases. Link to Press Releases 

Our real estate market remains very busy. June was the best sales month I've had since the heady days of the market peak back in 2005. The comments in the various market reports included in this newsletter are all pretty similar - Prices are edging up, listing inventory is decreasing and the inventory of distressed properties has dropped dramatically. It's still a great time to buy but there aren't nearly as many "steals", particularly in high-demand neighborhoods and developments. In other words, market conditions are "normalizing". Meanwhile, interest rates, although still near historic lows, have spiked in recent weeks. What does all this mean you should do in the "new normal"?

The answer varies, of course, with your individual situation. Over the next few newsletters, I will address this question for a number of different scenarios - an owner that wants/needs to sell, an owner that would like to upgrade, an investor buyer, a new second home buyer, a current second home owner that would like to move up into his/her retirement or permanent home. I'll cover seasonal sales patterns (When to list? When to buy?), ways to save money with 1031 tax-deferred exchanges, local retirement communities and much more. All of this will be highlighted by specific observations and recommendations specific to our unique market.

My Best Buy picks this month include oceanfront  and ocean view houses as well as condos in

Come see me at the beach!  

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.  

By some accounts, sports tourism, one of the fastest growing segments of the industry, represented 27% of travel in the nation in 2012. The future of sports tourism is looking bright indeed for the Grand Strand. One huge facility nears completion and another has just been announced.

Construction of the $15 million North Myrtle Beach Park and Sports Complex is on schedule for completion in February of 2014 and advance bookings for the facility are even stronger than anticipated. The complex will feature a 27-acre lake, 6 baseball-softball fields, up to 8 soccer-football-lacrosse fields, an amphitheater, playgrounds, a dog park and picnic shelters. In addition, the city wants to partner with a private company to build a water park on the site in the future. Link to article.

Meanwhile, Myrtle Beach has just decided to move forward with construction of a $12.4 million state-of-the-art indoor sports facility. The 100,000 square foot structure, to be built adjacent to the Myrtle Beach Convention Center, will include 8 basketball courts, each cross-lined to hold two volleyball courts.  

Construction is slated to begin in February of 2014 and be completed in February of 2015. Link to article.

These new facilities will complement the 7-field Ripken Experience in Myrtle Beach, the new Grand Park Complex at Market Common (1 football-soccer field and 7 baseball fields) as well as the numerous municipal fields, gyms, and pools and other sports venues throughout the area.

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.

OF/OV Homes Brochures:       Link to Listings 

OF/OV Homes Spreadsheet:  Link to Spreadsheet 

Condo Brochures:       Link to Listings