The Main Street Connector will be open for traffic as early as July 2009, but not later than Fall of 2009.

Greg Tuttle, site manager for bridge contractor Cape Romain, said that the Main Street Connector will be turned over to SCDOT for traffic in July 2009, according to a report by Jim Hulen, North Myrtle Beach Online.com .

Tuttle said, “The bridge is 71% complete. We put the last beam in place yesterday [December 15th]. There will be no lengthy blockage of the waterway from here on out. We will only be moving cranes.”

Bill Haley, SCDOT regional office, said they are hoping to have the bridge open in July but, making allowances for weather and other causes for delay, it could be Fall of 2009 but, despite some local news report, he could not foresee the opening being as late as into 2010.

The bridge has a total span length of 230 feet.

Source: North Myrtle Beach Online.com

“Merry Christmas… y’all!”

I’m hearing it all over Myrtle Beach this year. It’s the greeting of choice here in the South… where folks take their religion and football seriously (Go Gators!).

Maybe it’s because of the Christmas Linebacker? You just never know when, or where, he might pop up.

Take a look… laugh out loud… and have a wonderful Christmas!

THINKING ABOUT REFINANCING your home or investment property? I certainly am, and I’m not alone. Many people are considering refinancing because of the lower interest rates currently being offered by lenders. But I don’t want to get my hopes up too high, since I may not qualify.

Refinancing applications increased by 208% over the Thanksgiving holidays according to the Mortgage Banker Association. The dramatic increase was prompted by the lower interest rates being made available since the Federal Reserve decided to get involved in the mortgage mess.

The average rate for 30-year fixed-rate mortgages decreased to 5.47 percent from 5.99 percent, and points decreased to 1.16 from 1.23 for 80 percent loan-to-value (LTV) ratio loans, the MBA reported. Some mortgage experts even predict that rates for conventional, conforming loans will go as low as 5 percent by the end of the year.

THE PROBLEM IS: many people won’t be able to take advantage of these low rates because of tightened underwriting standards. And the standards keep changing from week to week. People with borrowing power one week can lose it the next week because of these changes.

So let’s check it out. I own an investment property with a 5-year, fixed-rate, interest-only mortgage due March, 2011. I’d like to take advantage of the lower rates and convert the loan to a conventional 30-year, fixed-rate mortgage. I also want to lower my monthly payments. Hey… you don’t ask, you don’t get.

I’ll start calling lenders this week to see what they can do for me. It may take a while, since we are moving into the holiday season, but I’ll let you know what I find out. Stay tuned….

Resource: Inman News, Thursday, December 4, 2008.

MYRTLE BEACH: Banks and developers are trying to improve their 2008 balance sheets by selling their properties at cut rate prices. Banks don’t want to be in the real estate business and developers don’t want to carry unsold property into the new year. Banks are trying to cut their foreclosure losses and developers are offering deep discounts and incentives to reduce their inventories – all by year end. Who benefits from this?

You benefit - if you are a first-time home buyer, a cash buyer, or a buyer with terrific credit. There is something for everyone – single family homes, golf and oceanfront condos, and townhomes. But make sure you have your finances lined up before you make an offer. The best properties sell quickly even in this market. One new foreclosure in my neighborhood – Barefoot Resort – sold in three days.

So what kind of deals are we talking about? Click here for some examples.

CONTACT ME - I’d be hhappy to help you find what you’re looking for.