Myrtle Beach Real Estate News

Gene Carter and The Beach Pro Team


August 2013
Volume 2013   Issue 07
In This Issue
July Reports
News to You
Where Have All The Listings Gone?
Flood Insurance Reform
Best Buys

Gene Carter CDPE

Professional, Courteous Service /
28 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,


I've had a pretty good sales year so far, especially for oceanfront condos. My 53rd sale of the year will be closing later this week and almost all of these have been oceanfront condos. Out of 3600 active agents, I am currently in the top 40 in overall sales volume and number 8 in overall condo sales. If you exclude sales "teams" (each of which actually has multiple agents) and Brokers in Charge (who are typically credited with all of the "company" listings within their firms), I am currently at #3 in overall condo sales volume. Last year I finished at number 15 in overall condo sales (#9 if you exclude teams and BICs).


I mentioned in my last newsletter that sales activity seemed to slow down in mid-July, at least for oceanfront condos. My perception has since been supported by conversations with other real estate agents as well as local lenders and closing attorneys - all of whom noticed the same phenomenon. Fortunately, it didn't last long. By mid-August, inquiries and offers started rolling in again.


Even though the buyers are back, sales may slow down a bit this fall simply because of the lack of listing inventory in some of the more popular developments. Check out "Where Have All the Listings Gone?" for some interesting facts and figures.


Major changes in the National Flood Insurance Program (NFIP) were signed into law in 2012. As these changes start phasing in this year some homeowners in our area will be affected. I've covered the highlights in this newsletter.


I will probably say this every year about this time but if you've never visited the Grand Strand in the fall, you don't know what you're missing. The weather is just about perfect with warm days, cool nights and low humidity. The summer crowds are gone but all the major attractions are still active. And there are so many festivals each weekend it's tough to decide which ones to go to. It's my favorite time of the year! For details, click on the "Calendar of Events" on the left side bar.

My Best Buy picks this month include
oceanfront  and ocean view houses as well as condos in
Anderson Ocean Club, Avista, Bay View, Bay Watch, Beach Colony, Breakers Boutique, Breakers Resort, Brighton, Camelot, Caravelle, Caribbean Resort, Compass Cove, Cottages at 7th, Crescent Keyes, Crescent Shores, Dunes Village, Edgewater, Grand Atlantic, Grande Dunes, Grande Shores, Harbour Cove, Island Vista, Laguna Keyes, Long Bay Resort, Magnolia Pointe, Maison Sur-Mer,  Malibu Pointe, Mar Vista Grande, Margate Tower, Market Common, Monterey Bay, North Beach, Ocean Keyes, Ocean Reef, Oceans One, Paradise Resort, Pinnacle, Prince Resort, Roxanne, Royale Palms, Sandy Beach, Seaside Inn, Sea Watch, South Shore Villas, Southwind, The Horizon, The Pointe, Tilghman Beach & Golf, Windy Hill Dune and Yacht Club Villas.


Come see me at the beach!  

July 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
News to You - August

This new monthly newsletter feature shares press releases that caught my eye in the previous month.  Here they are for August.  (These articles are on my website under "News/Useful Info"). 
Where Have All The Listings Gone? 

OK, this title may be a little misleading. There are still plenty of properties available to buy - and the prices are still great. What has changed is that the abundance of exceptionally low-priced distress sales we've become accustomed to is disappearing. Of course this is another sign that we are transitioning into a "normal" market. One of the consequences of this transition is that the sales pace for oceanfront condos seems to be slowing down despite increasing demand and better financing opportunities. 
Flood Insurance Reform


Federal flood insurance for high risk areas (representing about 20% of policy holders) has been subsidized by the government for many years. Congress has now decided it wants the federal flood insurance program to pay for itself and has passed the Bigger-Waters Flood Insurance Act of 2012 to accomplish this. Per a government info release (attached), the reforms are designed to "make the National Flood Insurance Program (NFIP) more financially stable, and ensure that flood insurance rates more accurately reflect the real risk of flooding. The changes will be phased in over time, beginning this year." The details of this topic are far too complicated to tackle in this newsletter but the attachments at the bottom of this article will give you some insight.


The homeowners who will see the biggest changes are the ones owning structures in high risk areas that were "grandfathered" at lower rates than the most recent program would have mandated. Other owners in flood-prone areas could see more modest increases.


I spoke with an insurance rep who handles numerous local condominium master insurance policies about this new law. He didn't think it would have much, if any, effect on local condo master flood policies. He works with one of the largest property management companies in our area, representing dozens of homeowner associations, and he said most of the associations he represents have already switched to more affordable private insurance carriers if the buildings are in high risk areas.  This means their policies should not be directly affected by these upcoming changes to the federal program.  


FEMA Reform Act of 2012 

FEMA Changes 

Changes Mandated for Federal Flood Insurance 

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.