Greetings from the Grand Strand!
Of course the beaches have been packed with tourists lately but the sales activity for resort properties has been a little sluggish over the past month. This is typical as the attentions of potential buyers and sellers this time of year become focused on important upcoming seasonal responsibilities - getting kids ready for school, picking fantasy football teams...
Buying activity typically picks up again in the early fall as the golfers and "empty nesters" start showing up. There are sometimes bargains to be found, even more so as we get closer to the end of the year - although great opportunities can pop up any time.
If you're planning to sell in the near future, early fall is a great time to list, particularly if you own a vacation rental property. Most owners tend to think of their yearly cash flow as one number. In reality, because of the seasonal aspects of the income, most vacation rental properties exhibit great positive cash flows during the peak rental season while the cash flows can be quite negative in the off-season. If you are planning to sell in the near future, it might be a worthwhile exercise to isolate your anticipated cash flow for the next six months or so. The number might surprise you.
It often turns out to be a good financial decision to sell this time of year, even though the price you obtain may not be as high as you could achieve in the spring, because of the negative cash flow considerations during the off-season. There may also be tax advantages available to some owners if a sale closes in this calendar year. Please contact me if you want to discuss the pros and cons of listing now versus selling later. Remember, it doesn't cost anything to list and you will never have to accept an offer you don't want!
NEWS FLASH. Although my newsletters and website will continue to look the same, my Beach Pro Team and I have moved to RE/MAX Southern Shores. This was a tough decision since the 5 years I spent with The Hoffman Group were very productive for me and my team (as well as for my clients and customers I hope). After a great deal of research and careful consideration I decided that the advantages offered by the leading real estate brand in the world were too great for me to pass up.
I will continue to operate my Beach Pro Team in much the same way I have up until now - although I plan to utilize RE/MAX'S resources (extensive marketing, worldwide brand recognition, massive referral network, etc.) to better serve my clients. RE/MAX's powerful marketing and 100,000 worldwide agents have enabled it to hold the number one market share in the United States and Canada since at least 1999.
Locally, RE/MAX Southern Shores has been number one in total sales volume among all the real estate firms on the entire Grand Strand for each of the past three years and is leading again so far this year. The Sun News readers chose it as the "Best of the Beach"' among all Grand Strand real estate agencies in 2014. The company covers the entire Grand Strand by maintaining three full-sized offices - one in Myrtle Beach, one in North Myrtle Beach, and another in Garden City.
Pam Treadaway, my long-time assistant, made the switch with me. Our email addresses, toll-free phone number, eFax number, website, and my cell phone number remain unchanged. Both of our direct phone numbers have changed - 843-839-6975 for Pam and 843-839-6973 for me.
I firmly believe this new platform will allow me to serve my buyer and seller clients and customers more effectively.
That's it for this month. Read on for the latest monthly reports and my latest Best Buy picks.
See you at the beach!
This new monthly newsletter feature shares press releases that caught my eye in the previous month. 