Myrtle Beach Real Estate News

Gene Carter and The Beach Pro Team

1-800-872-4488

[email protected] 

www.MyrtleBeachAdvantage.com 

February 2014
Volume 2014   Issue 02
If you would like to receive this monthly newsletter CLICK HERE
In This Issue
Everything You Ever Wanted to Know About 2013 OF Condo Sales
January 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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Greetings from Myrtle Beach,

 

First of all, welcome to all the new subscribers who've signed up for the Beach Pro Team's Real Estate News in recent weeks. I hope you find this useful and informative.

 

I've stated in previous newsletters that our local sales activity usually picks up by mid-January but this year has been different - a little slow to get started - probably because of the horrific winter weather that has battered the eastern US. In fact, the Grand Stand market statistical reports in this newsletter support my personal observations by showing significantly lower sales volume year-to-year for January and particularly for February (down over 13% for condos).

 

The slowdown in sales continued through about mid-February and then I think people just got fed up with the weather and started moving forward again. It seemed like a switch was flipped and everyone started writing up offers. For example, I sent out a list of great buys on January 23 entitled "Best Oceanfront Condo Listings of the Year". Of these 20 listings, 15 have since sold (5 to clients of mine!). As for the market reports, remember that closed sales lag pending sales. Expect to see a surge in closed sales over the next couple of months.

 

Even though many of the off-season steals have sold, there are still good opportunities out there. Also, the timing to purchase (or sell) is excellent. The peak rental season is approaching (great for buyers)and the busiest sales activity of the year is coming up too (great for sellers). Next month I'll take a look at the seasonal numbers for vacation incomes and sales prices.

 

I promised in my last newsletter that I would provide a detailed analysis of last year's oceanfront condo sales in a way that you've never seen before - by price ranges, number of bedrooms, number of sales by individual developments and more. Find it all in "Everything You Ever Wanted to Know About 2013 Oceanfront Condo Sales".

 

Finally, condotel financing continues to improve. Don't get too excited - lenders have not started offering conventional residential loans on condotels (and I doubt if they ever will). However, the terms for the portfolio programs have greatly improved and they have also expanded the number of developments they will finance. A purchaser can now find financing for almost any resort - with a little help from the Beach Pro Team. FYI, I'm still trying to find re-financing sources for condotels. Click here for our updated condo and condotel lender list.

 

My Best Buy picks this month include oceanfront  and ocean view houses as well as condos in
Anderson Ocean Club, Avista, BAREFOOT RESORT - (Arbor Trace, Cypress Bend, Dye Townhomes, Edgewater, Greenbriar, Harbour Cove, The Havens, Willow Bend, Yacht Club Villas), Bay View, Bay Watch, Beach Club, Beach Colony, Blue Water Keyes, Breakers Boutique, Breakers Resort, Camelot, Caravelle Resort, Caribbean Resort, Carolinian Beach Resort, Chelsea House, Pinnacle/Compass Cove, Coral Beach, Cottages at 7th, Crescent Keyes, Crescent Shores, Dunes Village, Grand Atlantic, Grande Shores, Island Vista, KINGSTON PLANTATION - (Brighton, Margate Tower, Royale Palms, South Hampton), Lauderdale Bay, Long Bay Resort, Magnolia Place, Magnolia Pointe, Malibu Pointe, Mar Vista Grande, Market Common, Monterey Bay, North Beach Towers, North Beach Plantation-Spa Villas, Ocean Bay Club, Ocean Blue, Ocean Keyes, Ocean Reef, Oceans One, Paradise Resort, Prince Resort, Roxanne, Sand Dunes Ph III, Sandy Beach, Seaside Inn, Sea Watch, South Wind, Sunrise Pointe, The Horizon, The Pointe, Tilghman Beach & Golf, Tuscany, Vista Del Mar and Windy Hill Dunes.

  

Come see me at the beach!  

Everything You Ever Wanted to Know About 2013 Oceanfront Condo Sales

 

As I reported in the last newsletter, there were 1271 closed transactions for oceanfront condos in 2013, up from 1191 closed transactions in 2012 and almost the same as for 2011 (1273 closed sales). The number of closed sales per year has been hovering in this range for a while - about 1200, plus or minus 50 or so.

 

It's probably just a coincidence but the number of active listings in oceanfront buildings has been in this same range for several years as well. As of today (3-20-2014), there are 1285 active listings in oceanfront buildings per our local MLS. This may seem like a lot but there are several hundred oceanfront condo complexes, each probably averaging a hundred or more units apiece. 

 

Click here for Article
January Reports

Breakers Boutique 1754 Balcony

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 - February

This new monthly newsletter feature shares press releases that caught my eye in the previous month.  Here they are for February.  (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 spreadsheets are sorted 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.