S.C. Insurance Director Scott Richardson expanded the wind pool to the Intracoastal Waterway - and beyond in some areas - on Wednesday, the second expansion in three months aiming to ease the coast’s insurance crisis.

• Homeowners can go to the wind pool Web site at www.scwind.com and put in their address to see if they are now in the wind pool.

• The new line expands the wind pool past the Intracoastal Waterway following S.C. 31 to River Oaks Drive and then follows the waterway into Georgetown County.

• The expansion now includes all of the Waccamaw Neck and parts of the city of Georgetown including the historic district, where Richardson said he learned there was “significant trouble” getting coverage.

• He expanded the wind pool, the state’s insurer of last resort, in March to U.S. 17 Bypass.

The wind pool was also expanded in Charleston County, but the change will be most helpful in Horry and Georgetown counties, he said.

The news came as a surprise to insurance agents and Grand Strand homeowners.

• Richardson said consumers who currently have a policy with a surplus lines carrier should see a reduction in their insurance costs if they obtain coverage through the wind pool.

• But the cost of coverage may increase for those who already have a standard carrier and the wind coverage is excluded.

The expanded wind pool will offer two rates - one in Zone 1, which includes the original expansion, and the other in Zone 2.

• Owners in the second tier, Zone 2, will pay about 20 to 25 percent less than those in Zone 1. This addresses the complaint that people two or three miles back from the beach would be charged the same rates as oceanfront property, he said. People in the new area can buy coverage at current rates after it takes effect June 1, he said.

But in September, the wind pool rates will increase significantly, about 30 percent. The rate increase has been expected - because additional amounts of exposure require new rates.

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

Withers Preserve, a walkable community coming to the former Myrtle Beach Air Force Base, will be the first in the nation to use General Electric’s new Ecomagination products - a line of appliances that save water and energy.

• Each home will save at least 20 percent on energy costs and on indoor water consumption. A control panel on the wall will let homeowners monitor how much water and energy they’re using.

• The eco-friendly appliances - including dishwashers, refrigerators and washers and dryers - come standard in the houses, and at least half of the indoor and outdoor lights will use lamps that use up to 75 percent less electricity than standard incandescent lighting.

• Solar panels will be an option in the homes, and homeowners can get financial incentives from GE Mortgage for purchasing a green home. The first phase of 60 single-family homes at Withers Preserve are selling for $500,000 to $600,000.

The 900-acre neighborhood of single-family homes, townhomes and condos will be within walking distance of shops and restaurants at The Market Common. Model houses are under construction.

Developer Robert O’Neel will join GE officials and California Gov. Arnold Schwarzenegger in Los Angeles on Thursday to announce the deal. The event will broadcast live in Myrtle Beach at the Withers Preserve sales center at 2 p.m.

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

For more information on Withers Preserve – prices, availability, timing – contact Barbara Chartier by phone: 843-902-0204, or email: Barbara.Chartier@century21.com.

The Grand Strand’s economy will keep growing this summer - especially the number of jobs - though tourism will tick up only slightly and housing starts will continue to drop, according to a local economist.

By Barbara Chartier, Century 21 Coastal Lifestyles

BUYERS CONTROL SALES PRICES IN TODAY’S MARKET. If you want to sell your property, you have to price it to attract buyers.

Of course, sellers set the asking price… and they can refuse to sell if they don’t get it. That’s why the inventory of homes and condos is so high here in Myrtle Beach… there’s a buyer / seller standoff. And that’s why so few condos and homes are selling… they’re priced too high.

Buyers are shopping for “best buys”… and price is their starting point.

HOW TO PRICE “BEST BUYS” – Four Factors

• LOCATION: You can’t change your location, but you can price your property to make it the “best buy” in its location. That’s why a comparative market analysis of recently sold properties like yours is essential. Make sure you aren’t comparing apples and oranges. An experienced realtor can provide you with that information. Price must reflect location.

• CONDITION: Your property must be well maintained and in good condition… that’s your responsibility. Fix it, clean it and paint it to bring it up to “move-in” condition. Buyers don’t want “fixer-uppers” unless they’re offered at deeply discounted prices. An experienced realtor can recommend cost effective improvements that will appeal to buyers and make your property a “best buy.” Price must reflect condition.

• INCENTIVES: You can attract more potential buyers by offering a home warranty, or by paying some of the buyer’s closing costs. Incentives can be property specific, e.g. reduced golf fees, or even a golf cart. Buyer agent selling bonuses can result in more showings. An experienced realtor can suggest incentives that would be appropriate for your property. Price must reflect incentives.

• MARKET: You can’t change market conditions… they are what they are. Inventories are high, sales are slow, and prices keep drifting lower. Time is working for buyers… the longer they wait, the less they pay. If you want to sell, price your property to sell quickly. Sellers typically lower their prices too little, too late. An experienced realtor can help you stay ahead of the market. Prices must reflect the current market.

DECIDING TO SELL – it’s not an easy decision in today’s market. Many owners remember a few years back when they controlled prices. They set their asking prices above the market and sold their property in a few weeks. But, those days are gone and won’t return for another few years. Real estate markets go in cycles.

In this market, owner’s need a realtor friend who will give them an honest assessment of their property’s worth in today’s market. This market does not favor sellers. You may just want to hold on to your property and wait for it to turn around in a few years. But, if you do decide to sell, price it to sell quickly.

MYRTLE BEACH IS MY BUSINESS. Century 21 Coastal Lifestyles has been in business here for 30 years… we know the market. If you are not currently working with a realtor, I’d be happy to work with you. You can expect personal attention and professional service. And I’ll help you price your property as a “best buy” in today’s market.

You’ve got a friend in me.

Call me at 843-902-0204, or email me at barbara.chartier@century21.com . Or, visit my website at www.BarbaraChartier.com .

In a market where inventory keeps growing and sales keep slowing, sellers and builders are turning to feng shui, the unseen world of energy, and Catholic saints to get their homes sold.

INVENTORY: The number of homes on the market today has grown 28 percent since the end of 2006 to 6,203 homes.

Condo inventory is up 11 percent from the end of 2006 to 9,598 condos, according to the Multiple Listing Service.

PRICING: “Any time you get a changing market where we’ve got a heavy inventory, you see all of these things come out,” said Tom Maeser, president of the Fortune Academy of Real Estate. “I hate to disillusion everyone but there’s only one reason a house doesn’t sell and that’s price.”

Offer to pay your buyer’s closing costs even if you have to raise the price of the home. Buyers usually need more help with upfront costs than they do on their monthly mortgage payment.

STAGING: Home stagers on the Grand Strand are seeing a surge of interest from real estate agents, who are filling up staging classes in order to learn how to make a home “pop” for guests.

The goal is to make the home feel good, so buyers stay longer, and focus their attention on the home’s best points.

Michael Corbett, author of the book “Ready, Set, Sold!,” talks about home staging: the importance of curb appeal; making it smell good; adding flowers and plants.

Corbett says the main thing is to make those needed repairs, declutter and depersonalize, and take your pets out. He says, “Save it, store it, sell it or chuck it.”

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

Developers have submitted plans to redevelop the entire 18 holes of Crown Park Golf Club in Longs with single-family and multifamily homes.

If the rezoning to a planned development district is approved, the golf course would become the 18th since January 2005 to be closed for development or proposed redevelopment on the Grand Strand. It would be the newest to close, having opened in 2001.

The proposed plan calls for 414 single-family homes and 244 multifamily homes on the 191 acres, said Lou Conklin, land planner with Castles Engineering, who’s working for the developer, Lexon Homes.

The entire 18 holes will eventually go away under the plan.

Lexon Homes is already developing a separate nine holes of the property with 200 single-family homes called Calabay at Crown Park.

Source: Jenny Burns - The Sun News