A new Myrtle Beach, a new South Carolina, a new South.

That’s how officials are pitching the Grand Strand to decision-makers in Washington, hoping the message will resonate with those looking toward a new America.

The city is thick in a race for two presidential primary debates, likely to be held in January 2008, and on Thursday the Myrtle Beach Area Chamber of Commerce held a strategy meeting.

“What we want to do is show the great Southern hospitality and show the new Myrtle Beach to the world,” said Wayne Gray, a city councilman and a former chamber chairman.

Myrtle Beach has to overcome a number of obstacles in selectors’ minds: It has the wrong image for a presidential debate; it is not a major media market; there is not a huge political base here; and there are not many large corporations that could be sponsors.

City and county officials have been heavily lobbying the state Republican party, which said it will hold another debate but has not announced where.

The Congressional Black Caucus Institute, a nonpartisan Washington group, will sponsor an S.C. debate for the Democratic Party.

The benefits to the city are immeasurable, officials say. Myrtle Beach will be a part of history at a critical time and will be exposed to a national and international audience.

“This is not about whether you’re a Democrat or Republican,” Myrtle Beach Mayor John Rhodes said. “This is about what is the best thing for Myrtle Beach and Horry County.”

Source: Lisa Fleisher, The Sun News, Myrtle Beach, SC

By Barbara Chartier, CENTURY 21 Coastal Lifestyles

A BUYER’S MARKET is a tough environment for sellers. Sales are few and far between because the market is out of balance. There’s a lot more property for sale than interested buyers… and prices keep drifting lower.

That describes the condo market in Myrtle Beach. In June, over 8000 condos were listed for sale, while only 355 condos actually sold. That’s a seller / buyer ratio of 22 to 1. Most experts believe it will take a couple of years for the market to rebalance itself.

Right now, buyers control the condo market: they believe prices are going lower… they have a lot of choices… and they are in no hurry to buy. They are cherry-picking only the best buys. So what does it take to sell in a buyer’s market?

SELLING in a BUYER’S MARKET: Do you have what it takes?

1. Motivation: You may be a motivated seller if… your monthly payments are a stretch… you bought to flip… you want to protect your gains… your personal circumstances have changed (e.g. health, family issues). Most of today’s sellers are not highly motivated… that’s why their properties don’t sell.

2. Timing: Motivated sellers want to sell quickly… time is working against them. The prime spring selling season is over and prices are likely to drift lower over the summer and fall… and on into next year. Most experts agree that it will take a couple of years for the market to improve.

3. Location: Some locations are more desirable than others. Golf condo buyers want 1st or 2nd floor end units, unless the building or townhouse has an elevator. Beach condo buyers want direct oceanfront units. You can’t change your location, but motivated sellers can overcome a location disadvantage with pricing.

4. Condition: Beautifully decorated units in mint move-in condition sell… it’s the “WOW” factor. Buyers see it and want it. Motivated sellers are willing to… fix it, clean it, paint it, and stage it in order to attract buyers. Modest investments of time and money can greatly improve salability.

5. Pricing: Motivated sellers price to sell now… at today’s market prices. Most properties on the market are overpriced… that’s why they’re not selling. Buyers look at price first. The biggest mistake sellers make in a buyer’s market is to lower their prices too little, too late.

THE FINAL TEST – OK, you’re motivated to sell quickly. Your condo is in a great location… shows beautifully… and is priced to sell. And – in the meantime – you’re getting good rental income. Oops!

Buyers won’t buy what they can’t see. If your condo is on an active rental program, it will be much less likely to sell… even if everything else is positive. Rental programs are a major problem for sellers. With so many condos on the market, buyer agents only show condos that are available on short notice.

If you’re really motivated to sell, then take your unit off the rental program this summer. You’ll get a lot more showings and greatly increase your chance of selling.

If you’d like some help with all of this, just call… or email me.

Barbara Chartier, phone: 843-902-0204, email: barbara.chartier@century21.com

The City of North Myrtle Beach is improving beach services by offering chair and umbrella rentals, as well as roving concession carts for beachgoers.

• The rental rates are $10 for chairs and $15 for umbrellas per full day. Other rental rates and combinations were available.

Providing these services frees lifeguards to do the one job that is most important to anyone on the NMB beaches – keeping the visitors safe and saving lives.

• The intent is for the lifeguards to be strictly responsible for the safety of our citizens from now on. They no longer will have to think about renting beach chairs.

• Lifeguards hired for this program have completed rigorous training in lifesaving, first aid and public safety. A full staff of qualified lifeguards will be protecting swimmers this summer, with approximately ninety percent being hired from the local population.

Also newly available to those visiting NMB beaches will be concession vehicles that will cruise the sand during the season. This ATV-type vehicles look much like a beverage cart as found on golf courses.

• They will offer a variety of sandwiches, beverages, candy, sunscreen and frozen lemonade. The City has strived to keep the prices of items reasonable, with no items costing over $3.

By Angela Barwick- NorthMyrtleBeachOnline.com

Homeowners in South Carolina, especially the hurricane-prone coast, can now receive grants and tax credits for making their homes more wind resistant, thanks to a bill signed into law Monday.

Website:

How to take advantage of these credits will be outlined in a new Web site - www.scsafehome.com - that the Department of Insurance should have online by Wednesday, said Ann Roberson, insurance department spokeswoman.

The first applications to apply for grant money will be available August 15, she said.

Workshop:

On June 27, the insurance department will be offering two workshops on how to retrofit your home at the Home Depot on Oak Forest Lane in Myrtle Beach. The Federal Alliance for Safe Homes will explain how to install shutters, roof tie-downs and garage door track reinforcements at free afternoon and evening workshops. The times haven’t been set yet.

The state’s insurance department has $2.3 million in grant money and hopes to look for more through federal matches, Insurance Director Scott Richardson said.

Some of the bill’s details:

• Offers homeowners tax credits of up to $1,000 for the cost of making their home more wind resistant.

• Offers tax credits of up to $1,250 for low income property owners who pay more than 5 percent of their income toward insurance premiums.

• Reduces sales tax by 3 percent for building supplies used to make homes more wind resistant.

• Requires insurers to give consumers a list of all discounts they can get for retrofitting their property and requires them to offer such discounts.

• Requires insurers to give 90 days notice for cancellation in hurricane season and 60 days notice for the rest of the year.

• Provides matching grants for single family, modular or manufactured homeowners to retrofit their properties. Homes must be owner occupied and be valued at $300,000 or less, and have undergone a wind certification and hurricane mitigation inspection.

The bill offers incentives to insurance companies for covering property in the wind pool, the state’s insurer of last resort. They get a credit of 25 percent against the premium tax.

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

IT’S AN OLD-FASHIONED STANDOFF… with large inventories, picky buyers and frustrated sellers.

• Sellers don’t want to give away their property - but that’s exactly what buyers are itching for them to do.

• Buyers, on the hunt for slashed prices, great deals and the best price tag in the subdivision, are being patient - because they can - with a huge amount of inventory on the market

RESALE PRICES… on condominiums and townhomes have dropped since last year, but single-family prices are showing gains.

• Sales are down from last year… falling 59 percent for resale condos and 33 percent for single-family homes in Horry County.

• The median price - meaning half sold for more and half sold for less - of resale condominiums dropped 5 percent in the first quarter of 2007 from $178,350 last year to $169,000 this year in Horry County. Resale townhomes also dropped 9 percent to $135,000 from $148,000.

• Yet resale single-family homes are still inching up - increasing 9 percent to $205,000.

RESALE MARKET HIT HARDEST… “As we continue going through this period of correction, it’s hitting the resale market much harder,” said Don Schunk, research economist at Coastal Carolina University.

• That’s because builders are able to offer free TVs, upgrades or no payments for a year to get buyers interested. New home sales are dropping by smaller margins than resales.

• Sellers are wrestling with how much they can afford to cut their home price versus having to rent the home out and risk it being damaged.

BUYERS EYE PRICE DROPS… Buyers are expecting a discount and making offers below list price.

• Buyers are more educated now than ever. They know value.

• Buyers are waiting for prices to go down.

• Buyers are looking for bargains.

THE NEW MARKET… sellers are in competition with builders and their neighbors. Sellers have to monitor what local builders are doing - and their fellow sellers - to keep their prices right.

• Sellers who bought homes a few years ago still have gains.

• Sellers who bought over the last 18 months will do well to break even.

THE MARKET CHANGED QUICKLY… Two years ago, there were 3,036 homes on the market on the Strand. Today, there’s 6,450, according to the Multiple Listing Service for Horry and Georgetown counties. That doesn’t count the number of houses for sale by owners not using agents.

WHAT’S TO COME… The first quarter statistics, with its large sales drops and price declines, were worse than anticipated.

• The single-family market is expected to stabilize by year end.

• The condo market looks like it will continue to slide… because of the larger imbalance of inventory.

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

The National Association of Realtors revised forecast calls for 1.3% drop in median existing-home prices, following a downward adjustment last month.

SALES: Existing-home sales are expected to fall 4.6 percent this year to 6.18 million, compared with 6.48 million in 2006, with new single-family home sales dropping 18.2 percent and housing starts dropping 20.4 percent. Housing starts for single-family units are expected to decline 23 percent this year compared to 2006.

PRICES: Median existing-home prices are expected to drop 1.3 percent this year to $219,100, while new-home prices are expected to fall 2.3 percent to $240,800, according to the association’s latest forecast. The forecast calls for home prices to recover in 2008, with the existing-home price rising 1.7 percent and the new-home price rising 2.6 percent compared to 2007.

2008 FORECAST

Existing-home sales are expected to rise to 6.41 million in 2008, while new single-family sales are expected to rise from 860,000 this year to 901,000 in 2008 and total housing starts are expected to rise from 1.43 million this year to 1.49 million in 2008, the Realtor group reported.

Source: Inman News