I've emailed two midmonth messages since my September newsletter (a flood report and an announcement of a new development), so I'll keep this one brief.
First, here's an update on the "1000 year" flooding. As I reported, the beach areas generally recovered rapidly, in most cases resuming normal operations within a week. Other areas, however, have been hard hit and are still reeling. In particular, neighborhoods in low-lying areas near streams, rivers and the Intracoastal Waterway faced flooding which continued for several weeks after the initial storm. Houses, vehicles, and some businesses were severely damaged or destroyed. There was widespread damage throughout the state with some inland areas being truly devastated. I haven't seen a total figure yet but the statewide cost of the damage will certainly total in the billions.
The vast majority of the beaches of the Grand Strand avoided significant erosion and, in fact, most areas now look just about like they did before the storm. A few sections, however, experienced notable damage. Several feet of dunes were lost in
spots in Cherry Grove in North Myrtle Beach. The
southern tip of the Garden City peninsula, which has always been prone to erosion, had the worst damage with most of the beach washed away from the seawalls.
For more info on the flooding and its aftermath, take a look at the press releases on my website. PRESS RELEASES As I mentioned in the September newsletter, resort sales seemed to pick up right at the end of September but the subsequent weather event put a damper on things. Showing activity on my listings has increased over the last week or two so I'm hopeful the year will end on a positive note.
My listing clients have started receiving some additional reporting in the past month. We purchased ListHub Pro, a service which provides detailed info on Internet activity for each listing. Did you know that your listings are published in more than 900 online search services? Recent studies show that 94% of all real estate purchases begin with online searches. For resort properties, I suspect it's closer to 100%. You might be surprised just how often your listings are viewed by potential buyers throughout the country and the world. I'll cover this in more detail in a future newsletter.
I said it would keep it brief so that's it for now. Of course all the usual market reports and my Best Buys are included.
See you at the beach!
This new monthly newsletter feature shares press releases that caught my eye in the previous month. 