Greetings from the Grand Strand,
I know everyone is in the midst of the holiday season and the beach may be the farthest thing from your mind but please take a few moments to consider the information in this month's newsletter. I've got some interesting new market data that may influence buying and selling decisions (see below). But first, here are several important updates regarding new offerings.
Villas at North Beach: I sent out an email about this a couple of weeks ago but please read carefully for an important update. Quick review: First new condo tower in an oceanfront resort since 2006, pre-construction pricing, great for a second home or vacation rental property (sky-high rental incomes with 25% management fee), luxury resort (AAA Four Diamond rated), furnished, conventional financing (not condotel). See link to detailed info below.
Update: If you think you may have any interest in this building at all, you should really take a look at this current price/availability grid as of Wednesday afternoon (link to grid). As you can see on the grid, even though the project has yet to be formally released, there is obviously very strong demand. If you think you may want to purchase, it is imperative that you contact me immediately. Please contact me DIRECTLY for any info and for current pricing and available inventory.
Lakeview at Market Commons: I sent out an email regarding this on October 12, just prior to the official release of the development. This new condo development will be located a short walk away from the popular shopping/dining district, home to dozens of upscale shops and restaurants.
Update: Here's the big news for you fans of Market Commons (count me and my family among them!) - short-term/vacation rentals will be allowed at Lakeview.
I've talked to many potential buyers in recent years who love Market Commons but they didn't want to buy a second home there because they would not have the option of vacation rental income to help cover their ownership costs. This is the first development to my knowledge in the entire Market Commons district to allow short-term rentals. Please contact me directly for more information.
The Cloisters at the Ocean: Brand new detached luxury homes in the upscale northern end of the city of Myrtle Beach ("The Avenues"). Just across the street from the ocean. 4 bedrooms and 3.5 bathrooms. Ready to move in today! Almost all of the houses in this part of town are either new million-dollar-plus mansions or 50-year-old homes in the $300K to $600K range which need to be torn down or completely renovated. The homes at The Cloisters are large new houses which start at only $479,900. 2900 heated square feet, 10 FT ceilings, wood-look tile floors, two car garage, granite counters, stainless steel appliances, elevator (can be installed for an extra fee), natural gas, and the list goes on and on. Oceanfront pool access can be arranged (contact me for details). Great as primary residences or second homes. These are also zoned to allow for short-term rentals - a rarity for a detached house in the city of Myrtle Beach. Low monthly HOA fee ($89) covers yard care. There are actually six of these available but I have access to all - as well as the lowest priced listing - so please contact me directly for info on any of these. A link to my two listings is below. Much more info is available upon request (floor plans, feature list, over 100 pictures, etc.).
Okay, now for the cool new market data I promised. I've been using the same graph for years to illustrate the normal seasonal sales pattern for oceanfront condo sales (see below). By the way, I think this pattern is shared by all resort-style properties in our market.
I generated this graph in early 2012 based on averages of five years of sales data. My personal experiences and observations over the last couple of years caused me to question whether the seasonal sales pattern on this graph was still relevant. Check out, "Seasonal Oceanfront Condo Sales" to see what I found about recent sales and, more importantly, how to use this info to your advantage.
That's it for now. Be sure to check out the market reports and my Best Buys.
See you at the beach!