Myrtle Beach Real Estate Report

Gene Carter and The Beach Pro Team


July 2013
Volume 2013   Issue 06
In This Issue
June Reports
Condotel Financing-As Good As It Gets?
Holiday Sands Bank Owned Opportunity
Website - Facebook Upgrades
New SC Real Estate Documents
Best Buys

Gene Carter CDPE

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
Hoffman Logo


2200 Premier Resorts Blvd

North Myrtle Beach
South Carolina  29582

iPhone Property Search App

CLICK HERE (Code 9030)

iPhone Image

This iPhone app will allow you to search for Myrtle Beach Properties.
News Flashes





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




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



Quick Links...



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

Avista, Bay View, Beach Colony, Breakers Boutique, Breakers Resort, Brighton, Camelot, Caribbean Resort, Compass Cove, Cottages at 7th, Crescent Keyes, Crescent Shores, Dunes Village, Edgewater, Grand Atlantic, Holiday Sands, Island Vista, Laguna Keyes, Long Bay Resort, Magnolia Pointe, Malibu Pointe, Mar Vista Grande, Margate Tower, Market Common, Monterey Bay, North Beach, Oceans One, Ocean Reef, Paradise Resort, The Pointe, Prince Resort, Sandy Beach, Seaside Inn, Sea Watch, Southwind, The Horizon, Tilghman Beach & Golf and Windy Hill Dune.


Come see me at the beach!  

June 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.  


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
Condotel Financing-As Good as it Gets?

I have been asked numerous times over the last several years, "When will condotel financing get back to normal so buyers can get conventional financing?" Most often, I am asked this by owners who bought at the peak of our local market (2003 to 2006).  To quote Jack Nicholson.....Click here for article

Financing Your Condo
Lender List 
Holiday Sands Bank Owned Opportunity


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.

Website - Facebook Upgrades

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


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

New SC Real Estate Documents

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.

Best Buys (My Picks)
North Beach Towers  

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

OF/OV Condo Spreadsheet:    Link to Spreadsheet

Non-OF Condo Brochures:        Link to Listings  
Non-OF Condo Spreadsheet:   Link to Spreadsheet 
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

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