Myrtle Beach Real Estate News

Gene Carter and The Beach Pro Team

1-800-872-4488

[email protected] 

www.MyrtleBeachAdvantage.com 

October 2013
Volume 2013   Issue 09
If you would like to receive this monthly newsletter CLICK HERE
In This Issue
Save on Taxes with a 1031 Exchange
September Reports
News to You
Best Buys

Gene Carter CDPE
Gene

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
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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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Quick Links...

 

Greetings!

Greetings from Myrtle Beach!

 

First of all, I want to welcome all the new folks receiving my Real Estate News for the first time. Several hundred have joined my email list in the past month alone. Whether you are a current owner on the Grand Strand or are interested in purchasing, I hope this newsletter provides information of value.

 

If you are hoping to find a real "deal" on a resort property, particularly an oceanfront condo in any of the newer, more upscale buildings, I would strongly suggest trying to purchase in the next 2 months. At this moment, there are a number of high-quality developments with only a few listings left in price ranges that will soon cease to exist if current market trends continue. As soon as the New Year arrives, any remaining "low-hanging fruit" will be picked off very quickly - within a few weeks. Not only that, but interest rates appear to be ticking up again. I know everyone has football games and basketball games and holiday events going on but it's also a great time to visit the beach (shows, shopping, festivals, and more!). To see some of the bargains currently available, take a look at my "Best Buys". Remember that with every month that goes by, there are opportunities we won't see again.

 

The return of positive equity, profitable re-sales and good old-fashioned appreciation has led to a comeback for the 1031 Tax-Deferred Exchange. I've encountered more of these in the past 3 months than in the past 5 years combined. This perfectly legal and relatively simple arrangement allows a seller, under certain circumstances, to sell a property at a profit and roll the proceeds into another property without having to pay taxes on the gain at the time of the transaction. If you have equity in your beach property - and many current owners do - this is a perfect way to trade up to a bigger, better beach property. Also, this could enable the seller of an investment property (anywhere) to use the profit from the sale of an apartment building, rental home, or even raw land to purchase a vacation property at the beach (way more fun being a landlord!). Check out my article below for an overview.

 

Financing options for condos and condotels continue to improve. Although purchasers for most condos and all condotels still must generally utilize local portfolio lenders, the terms are getting more flexible as additional lenders compete for business. Contact me for details.

 

Finally, check out "News to You" for info on exciting recent announcements - Myrtle Beach breaks ground on a huge indoor sports complex, hundreds of millions in new roads and highway improvements and much more!

 

My Best Buy picks this month include oceanfront  and ocean view houses as well as condos in
Anderson Ocean Club, Atlantica III, Avista, Barefoot Resort - Edgewater, Greenbriar, Ironwood and The Dye, Bay View, Beach Club III, Beach Colony, Beach Cove, Breakers Boutique, Breakers Resort, Brighton, Camelot, Caribbean Resort, Carolinian, Chelsea House, Compass Cove, Coral Beach, Cottages at 7th, Crescent Keyes, Crescent Shores, Dunes Village, Grand Atlantic, Grande Dunes-Marina Inn, Grande Shores, Harbour Cove, Island Vista, Laguna Keyes, Lauderdale Bay, Long Bay Resort, Magnolia Pointe, Malibu Pointe, Mar Vista Grande, Margate Tower, Market Common, Monterey Bay, North Beach Towers, North Beach Plantation-Spa Villas, Ocean Blue, Ocean Creek, Ocean Keyes, Ocean Reef, Oceans One, Paradise Resort, Pinnacle, Prince Resort, Roxanne, Sandy Beach, Seaside Inn, Sea Watch, South Wind, The Horizon, The Pointe, Tilghman Beach & Golf, Willow Bend, Windy Hill Dune and Yacht Club Villas.

  

Come see me at the beach!  

Save on Taxes with a 1031 Exchange

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A 1031 Like Kind Tax Deferred Exchange (or just "1031 Exchange") offers a way for an owner of an investment property to sell his or her property for a profit and defer the payment of capital gain taxes. As prices have increased and more and more sellers have equity, these transactions have become more common. The focus of this article is on the many situations in which 1031 Exchanges can save you money. If you are already familiar with these transactions, you may want to skip ahead to "How can a 1031 Exchange Help Me?" For a basic explanation, read on.  Click here for full article 

September 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 - October

This new monthly newsletter feature shares press releases that caught my eye in the previous month.  Here they are for October.  (These articles are on my website under "News/Useful Info"). 
Best Buys (My Picks)
 

The following current listings are exceptionally well-priced and represent great values.  The condo spreadsheets are sorted by development, then by number of bedrooms and then by price.  The home spreadsheet is sorted by area, then by price.  These are live links to listing details and they will change according to changes in the MLS (Pending, Sold, etc.).  The listing details are in the same order as the spreadsheets. 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
Email:  [email protected]
Website:  www.MyrtleBeachAdvantage.com

The material provided is for informational and educational purposes only and sometimes contains current or forward-looking statements on real estate market conditions, and should not be construed as legal, investment and/or real estate advice.  Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors, and is not necessarily the opinion of The Hoffman Group or its agents.