The housing market in the Grand Strand area continues to improve, as described today on the front page of The Sun News! The Coastal Carolinas Association of Realtors monthly report shows that single family home prices were at their highest recorded levels this year! The average selling price of a single family home in July 2008 was down only 4% from the average in July 2007. Things continue to look up in the condo market as well. While the selling prices of condominiums continued to trend downward in July, so did the inventory of condominiums on the market, meaning less competition for current sellers!
Horry County Council will meet tonight at 6pm in the Horry County Government and Justice Center in Conway. Among the hot topics will be how to lure new airlines to our market, and how to encourage those currently here to stay. The incentive package for airlines will be introduced today, and details are being kept under wraps until the meeting this evening. Local business leaders correlate the high fees that the airlines must pay to fly here with the high rates passengers must pay for tickets flying into Myrtle Beach International Airport, which in turn keep many tourists from choosing the Grand Strand for their vacation destination. While fees are not the only factor that airlines consider when adding an airport to their regular routes, it is an important contributing factor. In addition to the incentive package for airlines, the Council will be discussing the possible development of an Airport Authority, as well as the possibility of spending tax dollars on environmental studies for a possible east terminal expansion. The discussions and decisions made by the Council at tonight’s meeting will hopefully have a direct effect on the areas future tourism and overall growth!
Help is on the way for many homeowners struggling to pay their mortgages in these tough times. President Bush has signed into law the Housing & Economic Recovery Act of 2008. The high points of this bill are a reform of Fannie Mae and Freddie Mac, permanent increases to FHA and GSE loan limits, a $7500 first-time home buyer tax credit, and the expanding of FHA that would allow more homeowners to refinance their mortgages. Hopefully this is just the first step to turning around the housing market in the near future.
It was announced on May 23 that RE/MAX associates raised $9.5 million for the Children’s Miracle Network in 2007. Each agent gives a contribution out of every closing to the Children’s Miracle Network. This is just another reason why you should choose to buy or sell your property with a RE/MAX agent. If it happens to be in the Myrtle Beach area make sure you give me a call at 843-424-6900 or you can visit my Myrtle Beach Real Estate website.
Congratulations to Coastal Carolina University’s baseball team for landing a number one seed in the NCAA tournament for the second straight year! Coastal Carolina will host the regional round of play at their field in Conway, South Carolina. The games begin on Friday, May 30th at 1pm with Coastal Carolina going against Columbia. The second game of the day will be Alabama versus East Carolina and will begin at 7pm. Games will continue through Monday if necessary with game times being 1pm and 7pm each day.
I attended a few of the games last year and would highly recommend checking it out if possible. It was a lot of fun and a great atmosphere for watching baseball.
I've been working in Real Estate for years, and was here in Myrtle Beach to witness the boom in 2005, as well as the steady downward spiral which occured in 2007. In our local real estate market, I have seen the prices finally hit bottom this year. Beginning in January and February, some of the national builders steadily stopped dropping their prices in our area, and this Spring most of the big guys have stopped negotiating and have bottomed out their pricing. I have even sold a few ocean front condos recently that are cash flowing. My friends in the business and I have noticed how it seems that our market has finally begun to settle.
Nationally, the same trend is occuring. After months and months of headlines declaring the gloom and doom of real estate, the Wall Street Journal published an article on May 6, proclaiming "The Housing Crisis is Over". While the article does state that housing prices will not be returning to those experienced in 2005 for many years to come, the important fact is that the current downward trend is over!
Horry County Council held a ribbon cutting yesterday inaugurating the long awaited continuation of Postal Way in Carolina Forest. The road, which runs between the BB&T and the Post Office, will connect Carolina Forest Parkway to Gardner Lacy Road somewhere close to Carolina Forest Middle and High Schools. The new road is slated to open by August 1, alleviating the majority of the school traffic on Highway 501 which has increasingly plagued local commuters over the last five years. The road is also certain to bring more housing and commercial development to this growing area.
The Market Common has opened with a bang! My wife and I were meeting a group of friends for dinner and arrived early just to walk around. We were first amazed with the ease of parking! Easy access to to the parking garage, and it was well pointed out. The complex itself was very nice! The beautifully landscaped street centers, fountains, and interesting building facades kept us walking. Wide walkways made it easy for us to walk at our own pace, without feeling trapped behind slow people or feeling as though we were hindering other shoppers. A breath of fresh air in contrast to the concrete jungle of the outlet malls! We popped into several stores, all of which were full of smiling staff ready and eager to help. The well known anchor stores such as Williams-Sonoma set the tone for smaller boutique style shops like Copper Penny Shooz, as well as national brands like Banana Republic, all blended together. We noticed that P.F. Chang's was already open as well as Travania's, but we opted for Gordon Biersch Brewery. The atmosphere was fantastic, and the patio was packed with tons of people meeting for happy hour. Our food was very good and the beer was satisfying also. Each of us mentioned how nice it was to be somewhere new instead of always going to the same places. We anxiously await what other stores and restaurants will be coming to the complex - and my wife is busy shopping.
For information about real estate surrounding Market Common contact me at 843-424-6900 or email me. You can also search all available properties at my Myrtle Beach South Carolina Real Estate website.
Excitement continues to build around the world's first Rock & Roll Theme Park in Myrtle Beach, SC. The highly anticipated Hard Rock Theme Park will begin it's "Sound Check", a three week dress rehearsal, on April 15th. For these three weeks, visitors will be able to sample rides, attractions, and shows that will be part of the Parks' main line up after the Grand Opening! During the Sound Check, the park will be open daily from 4pm to 7pm, and admission will be $40 - including a $10 meal voucher! On the weekends of April 26-27 and May 2-4, the park will be open 10am - 10pm for full day access, and the price of admissin will be $50. Anytime that you attend the Sound Check, your ticket price can be applied toward the cost of a Season Pass! Brace yourself for wild rides and excitement! See you at Hard Rock!
If you are interested in buying investment property near the Hard Rock Theme Park please contact me today at 843-424-6900 or email me. To search for properties visit my Myrtle Beach Real Estate website.
Directions: Take Carolina Farms Blvd. to Scarecrow Way. Make a left onto Scarecrow and then a right onto Fieldstone St. House will be on the left.
This beautiful Rosewood plan has it all. Home features hardwood floors throughout first floor, stainless steel appliances, huge bonus room, large walk up attic, formal dining room, sitting room, oversized laundry room, covered patio, and more. First floor master bedroom features tray ceilings, large walk in closet, separate garden tub & shower, and double sinks. Great onsite amenities including two pools, a fitness center, a basketball court, & community clubhouse, and security. The Farm at Carolina Forest offers easy access to Grissom Parkway & Highway 31, and is also within walking distance to the new Ocean Bay Elementary & Middle schools.
Open House in The Farm at Carolina Forest
