Air service has dipped 30 percent and the number of passengers has fallen 20 percent this spring at Myrtle Beach International Airport, according to airport officials.

That has caused a cloudy financial outlook at the airport, despite some good news Friday that Spirit Airlines will expand service to Myrtle Beach.

A new Spirit route to Boston and additional seats on existing flights could help fill the service hole left when Hooters Air pulled out of the airport earlier this month.

Still, more carriers and service are needed to pump up business to previous levels.

Many see the airport as key to expanding tourism beyond its heavy dependence on drive-in visitors.

Traffic at the Myrtle Beach airport dropped off drastically after the 2001 terrorist attacks in the United States and has climbed back to previous levels since.

While the search for new service continues, the county will consider hiring a private company as a fixed-base operator to handle airport services such as fuel, baggage and hangar management. The county is now in charge of the operations.

Source: Travis Tritten, The Sun News, Myrtle Beach, SC

April 28, 2006 ~ Several coastal Carolina golf courses have closed, plan to close, are contracted to be sold, are in sales negotiations, or have requested a zoning change to allow for possible redevelopment in the past seven years.

HORRY COUNTY

• Burning Ridge West | Myrtle Beach, closed 9 holes in June 2005 for housing, the other 9 contracted to a developer

• Robbers Roost | Myrtle Beach, closed in 2003, undeveloped

• Crown Park | Longs, closed 9 of 27 holes in 2003, contracted to become homes

• Gator Hole | North Myrtle Beach, redeveloped in 1999

• Raccoon Run | Myrtle Beach, closed in Aug. 14 for housing

• Belle Terre | Myrtle Beach, closed Nov. 4 for housing

• Bay Tree Plantation | North Myrtle Beach, all 54 holes expected to close for housing May 16

• Colonial Charters | Longs, submitted plan to alter course for redevelopment

• Eastport | Little River, expected to close for redevelopment in spring 2006

• Deer Track South | Surfside Beach, owner negotiating sale to home builder

• Island Green | Myrtle Beach, owners negotiating with developer that is mulling building homes on at least 9 of 27 holes

• Wild Wing Plantation | Conway, will redevelop into housing 45 of 72 holes beginning in June

• Cypress Bay | Little River, submitted a zoning change request to Horry County to build a housing development that would close the course

• Green Acres | Aynor, submitted a zoning change request to Horry County to allow for homes and possible retail businesses

• International World Tour | Myrtle Beach, requested zoning change to allow the possibility of condos on 9 holes

GEORGETOWN COUNTY

• Winyah Bay | Georgetown, closed in January 2005 for housing

BRUNSWICK COUNTY, N.C.

• Calabash Golf Links | Calabash, N.C., closed Nov. 15 for housing

• Marsh Harbour | Calabash, N.C., closed in 2002, undeveloped

• Ocean Harbour | Calabash, N.C., closed in 2001, undeveloped

• Ocean Isle Beach Golf Club | Ocean Isle Beach, N.C., closed Aug. 14 for redevelopment

• Angels Trace Golf Links | Sunset Beach, N.C., sold to Coastal Communities, plans not announced

Source: The Sun News, Myrtle Beach, SC

Spirit Airlines will fly one trip daily from Boston to Myrtle Beach that leaves and returns early enough to get in a round of golf, both when going and coming back. The discount airline with business class seats, is launching service starting Aug. 15.

Spirit is trading in its old airplanes for two new fuel-efficient models. The new Airbus jets consume up to 30 percent less fuel, which could help the airline move back into the black.

Spirit, much smaller than JetBlue Airways or Southwest Airlines, is trying to appeal to the traveler who wants low prices but doesn’t want to give up the old-line carrier benefits. It offers a rich frequent-flier package along with its all-leather seats.

Source: Jennifer Heldt Powell, Boston Herald

An emerging housing trend among seniors has given “halfback” a new meaning.

Senior housing insiders use the term to describe retirees who moved to Florida from northern states, then relocated halfway back to the Carolinas because they found Florida’s weather too hot or the state too crowded, industry figures say.

“North Carolina is fifth in the country in getting other states’ retirees,” says Dan Owens, senior housing consultant for builders and towns, Carolina’s Active Retirement Association.

Florida has always been the “800-pound gorilla” of retirement destinations, but that’s changing now. North and South Carolina combined now receive more relocating retirees than Florida, Owens said.

That’s just one difference between today’s aging baby boomer and yesterday’s seniors, known as the G.I. Generation. Don’t bother looking for similarities in the two when it comes to retirement housing.

Baby boomers shape future housing trends by location, lifestyle

The size of the baby boomer generation — roughly 78 million people born from 1946-64 — puts this generation’s habits on everyone’s radar.

Baby boomers now entering their retirement years are the healthiest and wealthiest group to ever hit this life stage. These seniors will place heavy emphasis on affordability when making retirement housing decisions. People are moving in vast numbers to the Carolinas because of affordable homes, and seniors are among them.

Today’s seniors don’t want to discuss “aging” or “retirement” in those terms and home builders have caught on – creating a burgeoning market for active adult communities that offer seniors physical activities, a sense of community and homes that will accommodate them as they age in more subtle ways than the intrusive steel railings and chair lifts built into yesterday’s senior homes.

Source: Jessica Swesey, Inman News

Oceanfront condos ~ each with a magnificent view ~ are still available for real estate investment at North Beach Towers, located on the southernmost end of North Myrtle Beach.

The North Beach Towers design is stunning: twin towers connected by two arches, offering breathtaking views of the Atlantic. The towers will reflect a southern coastal architectural style reminiscent of Charleston and Savannah.

The arches that connect the converging towers are modeled after the famous “Atlantis” Resort in The Bahamas. The upper arch at the 14th floor will contain a two-story restaurant/bar over-looking the ocean.

North Beach Towers will overlook the Atlantic through a spectacular 2-½ acre Caribbean waterpark featuring an unprecedented array of water amenities including outdoor fountains, swimming pools, spas, lazy river and swim-up pool bar.

The twin towers will contain a mixture of one, two, three, four and five-bedroom villas; all directly oceanfront.

Special features include nine foot ceilings; double door entrances, 8’ solid core doors, granite kitchen and bath counter tops, custom cabinets, upgraded appliances, large walk-in closets, sound insulated walls between units, porcelain tiled entries, kitchens, and baths, and floor to ceiling glass spilling onto massive oceanfront balconies.

Special project features include oversized high-speed elevators, owner storage closets within the homes, enclosed, centrally-conditioned entry corridors, and wireless internet capable communications.

For more information (availability & prices) contact Barbara Chartier at 843-902-0204.

Source: prweb.com newswire

Most home buyers first learned about the homes they purchased through a real estate agent or the Internet, according to a survey conducted in Northern California.

How they learned about the homes they eventually purchased:

• Real Estate Agent 36%

• Internet 31%

• Yard Sign / Drive By 18%

• Friend 9%

• Newspaper 5%

About 91 percent of respondents said they most enjoyed using the Internet for their home search because “it saves time,” while 45 percent said “it empowers you in the transaction.”

Reasons buyers visit real estate web sites:

• Photos 89%

• Search 85%

• Mapping 77%

• Financial Info 31%

• Locate Agent 26%

• Career Info 11%

Source: Inman News

Whether we’re at the popping off point of a housing bubble or not, we may have turned a corner in our long-standing love affair with debt.

Housing Bubble

According to the latest Experian-Gallup Personal Credit Index survey, 71% of consumers say it is likely that a housing bubble and collapse of prices could occur in the United States within the next year.

But most people don’t think it’s going to happen to them – 60% of all homeowners say they still expect home prices to rise in their areas in the coming year. Only 32% expect the collapse of a housing bubble within their own area in the next year.

About half of all Americans, 53%, recognize the term “housing bubble” without explanation — up from 35% a year ago.

However, the stats only prove that the media hype that has surrounded real estate in the last year or so is working. It’s not really evidence that a housing bubble even exists.

Borrowing Less

Over the next six months, just 2% of all U.S. homeowners plan to borrow against the value of their house either through a home-equity loan or line of credit.

And only 2% plan to refinance their current mortgage, a process during which they might also extract cash from their equity.

The evidence, at least in the Experian-Gallup survey, points to a growing aversion of households to take on new debt of any type.

Only 15% of consumers in the Experian-Gallup survey say now is a good time to borrow more money, down from 20% just a month ago.

Source: MarketWatch

WASHINGTON - Sales of previously owned homes edged up in March, but the backlog of unsold homes still hit a record high, raising concerns that the once-booming housing market could be in for a rougher landing than expected.

Analysts predicted that home prices will come under more pressure in coming months if sales slow more and the inventory of unsold homes keeps rising.

The number of unsold homes on the market at the end of March hit a record of 3.19 million units. At the March sales pace, it would take 5.5 months to eliminate the backlog of unsold homes, the longest period since 5.6 months in July 1998.

Some analysts expressed concern that the rising level of unsold homes would soon start putting more downward pressure on home prices.

David Lereah, the Realtors’ chief economist, said he was still looking for a gradual slowdown in housing that would result in a drop of around 6 percent in home sales this year and a slowing in price gains to around 6 percent, compared with the double-digit gains in prices in recent years.

He said the fact that home prices have shown increases in the past two months was a good sign that sales are stabilizing after the five consecutive monthly declines.

“This is additional evidence that we are experiencing a soft landing,” he said.

This year’s rise in mortgage rates is dampening sales of both existing and new homes and forcing builders to cut back on construction of new homes. Housing has been one of the standout performers in the current four-year-long economic expansion.

Source: Martin Crutsinger, The Associated Press

A federal study shows personal income grew faster in the Myrtle Beach area than anywhere else in South Carolina, but experts say the statistics mask a growing dichotomy between well-to-do retirees and low-income workers.

Personal income includes income from all sources, including wages; dividend income; interest income; money from investments and rentals; and government entitlements, such as Social Security.

Retirees typically have more investment, dividend and entitlement income, experts say, and it’s that influx of money - not an increase in wages - that is boosting the Myrtle Beach area’s personal-income level.

The report, released Tuesday by the federal Bureau of Economic Analysis, shows combined personal income in the Myrtle Beach metro area, which includes all of Horry County, grew by 7.5 percent - to $5.69 billion from $5.29 billion - between 2003 and 2004.

Per-capita personal income in the Myrtle Beach area increased 4.2 percent during the same time period, to $26,170 from $25,118.

In Georgetown County, combined personal income increased 6.1 percent from 2003-04, to $1.68 billion from $1.58 billion. Per-capita personal income increased 4.3 percent during the period, to $28,103 from $26,944.

Source: David Wren, The Sun News, Myrtle Beach, SC

Centex is proposing a 680-acre development with up to 4,000 housing units ~ the community of Providence ~ off U.S. 701 on Pitch Landing Road.

The proposed Providence development would include affordable housing, townhomes, condos and upscale custom built homes.

The project would include single-family homes and condos, a golf course, other amenities and commercial development at the front of the property, which would be developed by other companies.

City officials estimated that if there were three people per household, the city’s population would grow by 12,000 once the new community is completed, which could take up to 15 years.

If 3,500 housing units were built and annexed into the city, at an average value of $250,000, it could mean a $3.2 million boost to city tax revenue and about $4.8 million to the school district.

Officials hope to annex the development into the city, and developers offered to donate 36 acres in it to the city for public safety and school development.

Source: Tonya Root, The Sun News, Myrtle Beach, SC

Home staging can help you earn the maximum sales price for your house or condominium. Barb Schwarz’s new book ~ “Home Staging” ~ tells you how with words and pictures.

The author, a professional home decorating stager, shares her secrets for making a home listed for sale show its best. In other words, her goal is to make your ordinary home into a model home.

Most home buyers have zero imagination, until a home is staged and professionally presented. They won’t be able to spot the potential of a home offered for sale. Schwarz’ new book explains the tactics of presenting a home to look its best, even on a limited budget.

Schwarz emphasizes both the visual changes home staging makes, and its resulting dollar benefits in the form of quicker home sales and for more money. She backs up her statements with facts rather than just opinions.

“As the creator of home staging, I have never seen it not work. Sure, overpriced properties may sit, but it’s price that holds them back, not the staging. Two things sell a house: one is price, and the other is home staging,” Schwarz modestly explains.

Chapter topics include: “So You’re Selling Your Home”; “Ready, Stage, Sell: Home Staging Guidelines That Work”; “Staging Magic: How to Stage Each Room in Your House”; “Take the Staging Magic Outside”; “Getting It Done: It’s Commitment Time”; “Tagging on a Dime”; “Showing Your Staged House: Lights, Music, Action”; “What Do You Do When You Need Help?” “Staging Tales from the Trenches”; “How to Work with Your Real Estate Agent”; and “How Home Staging is Changing the Real Estate Industry.”

Resource: “Home Staging,” by Barb Schwarz (John Wiley and Sons, Hoboken, NJ), 2006, $19.95, 205 pages.

Source: Bob Bruss, Inman News

About 85 percent of Americans view their homes as a reliable source for funding their retirement, beating out other options such as IRAs, savings, and working in retirement, according to a report by Prudential Real Estate Affiliates Inc.

The report, Building Security at Home, found that American homeowners believe the increase in the equity in their homes has been the most effective means of improving their retirement prospects.

To access the equity in their homes and also to reduce living costs, 62 percent said they expect to move or downsize sometime in their retirement.

A second study, Roadblocks to Retirement, asked Americans between 30-69 about their financial priorities, retirement preparation and their retirement concerns and challenges.

About 65 percent of survey participants said historically high real estate values have significantly helped their outlook for a financially secure retirement, while about 28 percent said that job security have assisted their retirement preparedness and 20 percent credited increases in the stock market with retirement preparedness.

About 54 percent of participants said employment-based retirement plans improved their retirement outlook, and 42 percent said income growth is a contributing factor to their retirement future security.

The biggest threats to a secure retirement come from the increased cost of living (71 percent) and health care costs (70 percent), according to survey responses.

Source: Inman News

The South Carolina Golf Course Owners Association recently received a report on the economic impact of golf in South Carolina. The study was conducted by Julie Flowers, state tourism economist for the S.C. Department of Parks Recreation and Tourism.

Report highlights:

• In 2004, golf courses and the off-course expenditures of visiting golfers had a total economic impact (direct, indirect and induced) in South Carolina of $2.261 billion in output or sales, 30,938 jobs, $713 million in personal income and $180 million federal, state and local taxes. Greens fees and club membership dues generated $11.9 million in admission tax revenue alone, accounting for over 41 percent of state admissions tax collections.

• South Carolina has 375 golf courses, the highest number of holes per capita in the U.S. Overall, the average number of rounds played was 32,512 per 18-hole course, and the highest average was in the coastal region with 35,237. The average revenue from membership dues, green fees and cart fees per paid round was $48.41, while in the coastal region the average was $60.03.

• There were 923,000 trips to South Carolina in 2004 that included a round of golf. These trips generated $0.9 billion in visitor expenditures ($0.2 billion spent on the golf course and $0.9 billion spent on off-course items such as hotels, restaurants and other retail and entertainment venues).

• The top out-of-state origins were North Carolina and Virginia, both at 12 percent, followed by Ohio and Massachusetts (7 and 6 percent). The median age of golf visitors was 45 with a median household income of $80,000.

Source: Tommy Braswell, The Post and Courier, Charleston, SC

Planned development on the former Myrtle Beach Air Force Base could change Myrtle Beach more than any single effort in the city’s 50-year-history.

Live-and-work communities, together totaling 920 acres, are making headway for the first time on previously undeveloped land. Developers have collaborated to create a model for projects that will incorporate retail shopping, residences, parks and an urban-village concept that officials say promotes a healthful lifestyle.

The former base is the last major undeveloped parcel within city limits and gives the Grand Strand the chance to compete with the type of high-end restaurants and shops found in Charleston.

“Geographically, it’s the single biggest piece that we’ve done,” City Manager Tom Leath said. “It’s going to force other areas to stay competitive.”

Nationally, planners and developers are keeping an eye on the smart-growth initiative in Myrtle Beach. Locally, the redevelopment could be an economic boon, creating jobs and generating taxes. It’s also an example of the city’s efforts to clean up the south end of Myrtle Beach, where residents complain of crime and lower property values than their north-end neighbors. City leaders say the sole problem they foresee is increased traffic.

The 3,800-acre former base could eventually house 15,000 residents.

Of the former base’s total land area, the Myrtle Beach International Airport occupies 2,100 acres. McCaffery Interests has stepped up to build an urban village on 113 acres, RWO Acquisitions will build retail, hotels and residences on 560 acres, and Lennar Corp. has residential plans for 250 acres of the Ross Tract.

Developers say The Market Common, Withers Preserve and Lennar projects aren’t simply competitors: They say the three projects will complement one another.

The urban village drew RWO Acquisitions, which will develop a similar style of coexisting housing and retail in Withers Preserve. RWO Acquisitions and Lennar will also develop neighborhoods of modern housing, which Walker said is a key component because not all residents want to live near commercial areas.

The 113-acre Market Common will usher in an era of new sophistication for the Grand Strand, said Clayton McCaffery, vice president of leasing for McCaffery Interests.

“We are the primary social core. The city of Myrtle Beach has invested significant capital over the past decade or so to create this special environment,” McCaffery said. “Others will surround it, but all roads will lead to The Market Common.”

There’s not much left to purchase and develop on the former base. The redevelopment authority has four parcels of land left to sell that are less than 30 acres combined. Those pieces are under contract to be sold.

Source: Emma Ritch, The Sun News, Myrtle Beach, SC

New agents who thought real estate was an easy way to make big money are learning it’s not necessarily so.

Agents on the Grand Strand made an average income of $17,438 in 2005, according to a study by Tom Maeser, president of the Fortune Academy of Real Estate. And that is up from $14,996 in 2004. The average includes agents who may not sell real estate full time, Maeser said.

Statewide, average incomes have dropped as the number of agents has grown. The average income was $22,000 in 2003 and dropped to $12,500 in 2005, said Jim Peters with the S.C. Association of Realtors.

About 75 percent will quit after two years, according to the National Association of Realtors.

Source: Jenny Burns, The Sun News, Myrtle Beach, SC