In 2007, at least four major projects - the likes of which the area has rarely seen - and several crucial leadership changes promise to transform the Grand Strand as we know it.

By the end of the year, the place will be well on its way to having a higher-end, more year-round identity with fresh faces leading the charge and trendy developments sprouting. There’s the Hard Rock theme park, Market Common and yet-to-be-announced developments at the former Myrtle Square Mall and Pavilion Amusement Park, just to name a few.

“[These] major projects … will shape our economy for at least the next 20 years, maybe longer,” said Brad Dean, president of the Myrtle Beach Area Chamber of Commerce. “Combined, they amount to nothing short of an explosive economic environment for the next several years.”

• The area’s first pedestrian-friendly mix of apartments and stores will start to take shape at Market Common, ushering in the “urban village” concept where residents will stroll from their homes to Brooks Brothers, P.F. Chang’s or to catch a movie.

• Across town, Myrtle Beach could finalize plans for the first arts district as part of the development of the former Myrtle Square Mall site - a cultural amenity many have wanted for years, saying it will help Myrtle become more metropolitan.

• Then there’s the Hard Rock Park off U.S. 501, the first theme park to be built in the United States during the past decade. It will open in 2008, but locals will get the first glimpse of the entire park plan this year.

• Details also are expected, possibly in 2007, on two unknown, yet highly anticipated projects at the former Myrtle Square Mall and Pavilion Amusement Park.

Gone are those longtime landmarks that once defined this place: The Pavilion, the Grand Prix Family Thrill Park in North Myrtle Beach, the mom-and-pop motels lining the oceanfront.

Population growth - in permanent residents and those that stay six months - has helped fuel the development spurt, said Al Parish, an economist at Charleston Southern University. For residents, the Grand Strand will start feeling more like a bigger city - with the good and bad.

“It’s going to mean more traffic. It will mean a greater demand for public services. … But it will also mean more places to shop and grocery stores closer to where you live,” Parish said.

Source: Dawn Bryant with Jessica Foster, The Sun News, Myrtle Beach, SC

Excerpted from article by Ilyce R. Glink - Inman News.

What’s coming up for 2007? Interest rates should continue at the current, historically low level although some mortgage industry observers are forecasting that the Federal Reserve Bank will lower the Federal Funds rate, and long-term interest rates will fall as well. There will be good deals on existing homes and perhaps even better deals on new construction.

In all, it should be a good year. If you’re planning to buy a home in 2007, here’s my annual list of New Year’s resolutions you should consider making:

1. Get my credit and finances in order.

If you keep one resolution this year, choose to clean up your credit.

2. Get my credit in shape.

Put a lid on your spending, perform “plastic surgery” on your credit cards, and don’t max out any one card or your credit score will suffer. Don’t forget that good credit also means job stability.

3. Know how much I can afford to spend before shopping for a home.

Your lender will look at your income, debt, assets and liabilities, and come up with the maximum amount you can spend on a home. Once you know how much you can afford to spend, you’ll avoid making a common, heartbreaking, home buyer error: looking at homes you can’t afford to buy.

4. Know my neighborhood, and be comfortable with it, before I buy a home there.

Everyone wants to live on the best block in the best neighborhood. Unfortunately, that location may not be in your budget. Balancing affordability with location means you may have to compromise. Get to know the neighborhood and its residents inside and out before you buy.

5. Interview at least three brokers before hiring one.

Many buyers today opt to use buyer agents, or buyer brokers, who represent the interests of the buyer rather than the seller. One study showed that buyers using buyer agents or exclusive buyer’s agents paid 5 percent less for their home than those who use traditional agents. That’s $5,000 saved on every $100,000 spent.

6. Read and understand all documents before signing them.

Take the time to read all documents thoroughly. Ask an attorney or broker to explain things that don’t seem to make sense. It’s important that you understand what promises have been made and what warranties have been granted, and what implications these documents have for your personal financial and emotional well-being.

If you are looking for a realtor to represent your interests in Myrtle Beach, contact Barbara Chartier at 843-902-0204. She’ll look out for you!