Myrtle Beach Real Estate News

Gene Carter and The Beach Pro Team

1-800-872-4488

[email protected] 

www.MyrtleBeachAdvantage.com 

April 2015
Volume 2015   Issue 04
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In This Issue

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 from the Grand Strand!

 

The focus of last month's newsletter was the tremendous growth in our area. The day after I wrote the newsletter, the Sun News headline announced, "Myrtle Beach Area Second Fastest Growing Region in U.S." The US Census Bureau, which released the 2014 population estimates a few days prior to the article, said our metro area had 417,668 residents, up nearly 41,000 people since the 2010 census. The MSA includes Horry County and, for the first time, Brunswick County, North Carolina which boosted the overall total by 118,836. Georgetown, which is not in a federally-defined MSA, saw its population rise to 60,693. Click here for the entire article

 

I reported last year that spring sales, particularly for oceanfront and resort condos, were down from the historical norm (although the summer and fall were busier than usual - which made up most of the difference). This year, spring is back to its typical crazy-busy pace. In the last 30 days, I've had 12 sales (new contracts) totaling just under $4 million and it hasn't slowed down yet. All of these sales were in either oceanfront buildings or within walking distance to the beach. Other agents are reporting brisk business as well.

 

I forgot to announce this in last month's newsletter but we have added the 2014 closed sales information to the Closed Sales Lists on our website. For those unfamiliar with this service, detailed info on all of the closed sales from 2009 until 2014 for over 60 developments is accessible through my website. You can go to the website and click on Closed Sales List to find these. If the list which appears only goes through 2013, click the refresh icon at the top of your screen. Here's a shortcut to get to the Closed Sales List. Incidentally, we will be adding over 30 more developments to the closed sales list in the next few months.

 

I have been asked numerous times in recent years if there was anyone that would refinance condotels. One of the local lenders has recently started offering refinancing for condotels. Please keep in mind that the maximum amount that can be refinanced will be 75% of the appraised value of the property. In other words, unless the current value of your property is at least 25% higher than what you owe, you will have to bring cash to the closing to refinance. This means that the market value of your property is a critical factor in determining whether or not this is worth pursuing.  For more information regarding this lender and for an estimate of your current market value, please contact me.

 

That's it for this month. Read on for the latest monthly reports and my Best Buys.

 

Come see me at the beach!

March 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.


News to You

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