Greetings from Myrtle Beach,

The summer tourists are still packing the beaches, restaurants and shops but after a fast and furious first half of the year (47 sides under contract), my real estate sales slowed down a bit in July. I think this had little to do with market forces and mainly resulted from the fact that most of my listings sold during the rush and I haven't replaced them yet.

I used my "downtime" to make some long-awaited upgrades to my website (including the addition of a list of condotel lenders) and social media. The details are covered in the article below.

I promised in my last newsletter to address various buyer and seller scenarios in light of the "new normal" market conditions. One of the questions I have been asked frequently by condotel owners and prospective buyers of condotels is "When is condotel financing going to get back to the way it was?" My opinion in the article below might surprise you. Check it out.

The South Carolina Association of Realtors has adopted a new standard Purchase Agreement and a new Seller Property Disclosure. The changes, especially for the Purchase Agreement, are significant and could affect you if you buy or sell any real estate in South Carolina. For a look at these new forms and a brief overview, see the article below.

There's a new batch of bank owned oceanfront condos on the market, the first big group we've seen in a long time (and maybe one of the last). See the article below for the details on Holiday Sands.

A local company, SiteTech, puts out a very comprehensive quarterly economic report for our area. Lots of interesting info. Here's the first quarter report. We should have the second quarter report for the August newsletter. Link.

News to You: This new monthly newsletter feature shares press releases that caught my eye in the previous month. Here they are for July. (These articles are on my website under "News/Useful Info"). 

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.  

There haven't been many new large groups of distress sales in the last year or so and I doubt if we will see many more. These 29 bank owned condos were just entered in MLS on July 22 and 5 have already sold. Holiday Sands is an oceanfront condotel development on the south end of the downtown section of Myrtle Beach. It was completed in 2007 and has many of the features only seen in the newer buildings such as enclosed corridors, indoor and outdoor water amenities and more. Holiday Sands Brochure Link. 

The direct oceanfront deluxe 1BR condos (715 total sq ft with washers, dryers, and full kitchens) are priced at $109,900. The side view 2BRs are priced at $144,900 and $149,900 and the oceanfront 2BRs are priced at $160,900. There is one side view 1BR left, priced at $97,900. These are great prices!

Onsite rental management is available. Financing is currently not available through any lender that I am aware of so this would have to be a cash purchase. There are some quirks that are a little too complicated to go into in this newsletter so please contact me directly if you are interested. As previously mentioned, these are selling very quickly so please call me ASAP for best selection.

As I mentioned in the intro, I have been very busy recently making changes to my website: www.myrtlebeachadvantage.com.

I have added a "Lender Contact Information" page , updated my personal information in "About Me" and made numerous changes to the content and how it works. Please take a look and let me know what you think.

I have plans for much more in the near future, including adding more images and video.

Also, we have set up a Facebook page which will be a new avenue for me to explore. Please check it out at https://www.facebook.com/beachproteam.

Beginning August 1, 2013 South Carolina Association of Realtors has issued new versions of several standard documents.

The big change for the Purchase Agreement is the addition of the Due Diligence Addendum. This concept will probably be familiar to anyone who has purchased commercial property. Many other states utilize Due Diligence Addendum but this is the first time in South Carolina.

In addition to some minor changes to the Residential Property Disclosure, a condo addendum has been added.

1. Condominium Purchase Agreement  
2. Residential Purchase Agreement 
3. Due Diligence Addendum 
4. Residential Property Disclosure Statement 
5. Residential Property Disclosure Condo Addendum 

Please call me if you have any questions.

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 

OF/OV Condo Brochures:         Link to Listings