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!