Selling a home in any market can be a challenge. In a buyer’s market, selling a home requires considerable marketing skill and experience. This Monday morning series draws on proven experience to provide sellers with the essentials – Answers to the Ten Most Common Questions Home Sellers Ask.

Question #5 – “Can I save money by selling my home myself?”

FINDING YOUR BUYERS - Initially the idea of not having to pay a commission to an agent may be tempting to some sellers. However, any erstwhile do-it-yourself-ers should also be aware of exactly what’s involved in selling a home and make sure they have what it takes to follow through with every step. The vast majority of home owners in Myrtle Beach choose to let a professional real estate agent handle all the legwork and paperwork for them — as well as any potential problems that may arise in even the seemingly simplest of transactions.

Since Myrtle Beach is primarily a vacation / second home market, less than 20% of the property is owner occupied. Most property owners live out of town. Likewise, most potential buyers also live out of town and rely on the internet to search for property. By listing with a Realtor®, home owners have access to the Multiple Listing Service, the marketing tool that accounts for over 95% of home sales in Myrtle Beach.

Even if sellers choose to go it alone, they should still talk with a Realtor® they know and trust. Many real estate professionals will still offer to help with paperwork and marketing for home owners handling their own sales. This way, if something unexpected does happen, the seller has already built a relationship with a professional who is ready to help.

Next Week – “Does choosing the right agent really make a difference?”

All ten answers to these common questions are available on request. Just call my 24/7 hotline, toll-free, at 1-888-494-8654, Ext 225 and follow the recorded directions. I’ll get them in the mail to you within 48 hours.

For all the current listings in Myrtle Beach – updated daily – check out the MLS Search page on my website. Enter your search criteria and… voila!

Myrtle Beach is a buyer’s market right now… and it’s a tough environment for sellers. The real estate market is out of balance, i.e. the number of properties for sale far outweigh the number of actual buyers. Many properties languish on the market for months.

Today’s Q & A in this series – Answers to the Ten Most Common Questions Home Sellers Ask – speaks directly to this issue.

Question #4 – “How long will it take for my Myrtle Beach home to sell?”

Local real estate boards keep track of the average length of time properties stay on the market in the area. In Myrtle Beach, for property actually sold over the last 30 days, the average number of Days On Market (DOM) was 182 for sold homes and 286 for sold condos. Many of the unsold properties have been on the market far longer.

Why is it taking so long to sell property in Myrtle Beach? The primary reason is overpricing - sellers are having a hard time coming to terms with sales prices in a declining market. They price their property above the current market and discover too late that buyers aren’t interested. There are too many other choices. And when sellers do lower their prices, they lower them too little, too late.

Prospective sellers should pay close attention to the time frames established in their listing agreement before they sign with an agent. In a declining market, time is money, i.e. the longer the DOM, the lower the sales price. A key question for sellers to consider is: “What will happen if my home doesn’t sell within the prescribed time?”

Next Week: “Can I save money by selling my home myself?”

All ten answers to these common questions are available on request. Just call my 24/7 hotline, toll-free, at 1-888-494-8654, Ext 225 and follow the recorded directions. I’ll get them in the mail to you within 48 hours.

For all the current listings on the Grand Strand – updated daily – check out the MLS Search page on my website.

Summary: Condos sales are down 34%; prices are down 20%. Home sales are down 27%; prices are down 7%. Buyers are finding great deals.

The downtrend in the Myrtle Beach real estate market has continued in 2008 according to MLS data. Condos sales are down 34%, while prices are down 20%. Home are sales down 27%, while prices are down 7% year over year, January through June.

The condo market has been hit the hardest because of the dramatic run-up during the 2004 – 2005 boom. Single family homes prices didn’t gain as much and haven’t gone down as much over the same period of time.

What will it take to turn the market around?

Lower prices, the mortgage market, and buyer confidence are the keys to a turnaround. At some point lower prices will attract new buyers. But they will have to be able to get loans. With the mortgage market so tight right now, “cash is king,” unless you have very good credit. The politics of the presidential election is also creating uncertainty.

How long will it take to turn the market around?

No one knows for sure… a lot depends on the economy and the outcome of the elections. Analysts predict anywhere from 2009 to 2010. It still gets down to supply and demand. When supply and demand begin to balance out, the real estate market will improve. Right now, buyers have the advantage and sellers are still lowering prices to make a sale.

Good news for buyers.

It’s an ill wind that doesn’t blow some good. The bad news for sellers is good news for buyers. Buyers with cash and/or great credit are finding some very good deals. The longer the downtrend continues, the more willing sellers are to make concessions. But buyers have to decide on the kind of property they want and do their research in advance, so that they’ll know a good deal when they see it.

For more information on buying and selling in a buyer’s market, go to my website’s Free Reports page.

Resource: Jessica Foster, The Sun News, Myrtle Beach

Bottom Line: Home Sales down 26.77%; Home Prices down 3.48%

Myrtle Beach area home sales during the third quarter declined 26.77 percent compared with the third quarter last year, according to the S.C. Association of Realtors’ report released this week.

The median sales price in the Myrtle Beach area also fell to $194,000, a 3.48 percent decline compared with the third quarter of last year. Homes spent an average of 209 days on the market - an 11.15 percent increase.

Myrtle Beach statistics include Myrtle Beach, North Myrtle Beach, Conway and Georgetown.

Centex Homes ranks at the top of a new-home buyer customer satisfaction survey by J.D. Power and Associates that included the Grand Strand for the first time.

• Because of its building growth, Myrtle Beach was added to J.D. Power and Associates 2007 New-Home Builder Customer Satisfaction Study - identifying the Grand Strand as one of the 34 largest homebuilding markets in the country.

The addition of Myrtle Beach to the survey list was welcome news for Grand Strand builders, who said it proves that the number of building permits and home sales in the area can stack up against larger cities.

• J.D. Power looks at market share rankings and highly competitive markets when deciding which cities to include. Myrtle Beach was one of four cities added this year.

Centex took the top spot locally in every category of the study, showing that the Grand Strand’s largest builder can sell the most homes in the area and still please their buyers.

• Centex sold 1,185 homes and condos in the three-county area, giving it 10 percent of the market share in 2006, according to Market Opportunity Research Enterprises.

• For customer satisfaction, national builder D.R. Horton came in second and regional builder Bill Clark Homes third.

• Builders in this category are ranked on their warranties, their construction managers, sales staff and home readiness, among other items. Builders get more points for doing well in categories that are important to homebuyers.

For new home quality, Centex ranks first, Bill Clark Homes second and D.R. Horton third in the Myrtle Beach area. The category asks homebuyers about the amount and severity of construction problems.

For new home design, Centex ranks first along the Grand Strand followed by D.R. Horton and Bill Clark.

• Respondents say flooring, master baths and the kitchen are the most important part of the design of their homes.

• Nationally, homebuyers report that having a convenient arrangement of bathroom fixtures is more important than the size of the bathroom.

For more information on Centex Homes’ latest buyer incentives: contact Barbara Chartier by phone 843-902-0204 or email barbara.chartier@century21.com.

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

If you’re buying a home this year, you’re going to pay more in property taxes than the previous owner - double in some cases - because of what some are calling an unintended consequence of a tax reform bill passed this year.

• Taxes on homes in Horry County have been calculated based on their 2003 values, but tax bills for homes sold in 2007 and beyond will be based on the current market value - an average increase of about 50 percent in value, but more in some areas. The bigger bills will start going out in October 2008.

• That means your neighbors living in an identical home might be paying $1,884.41 in taxes for their home, but you would pay $2,760.81 if you just bought your home, according to the Horry County assessor’s office. That’s based on two homes valued at about $113,000 in 2003.

• The 2003 values were implemented in 2005, said Rendel Mincey, Horry County assessor.

The tax reform passed this year was focused on helping the permanent homeowner who stays in their home, and keep rising values from taxing them out of their home. It achieved that, by capping increases to 15 percent over five-year periods for permanent owners and by giving permanent residents significant reductions in the school millage part of their tax bill.

• So, if you stay in your home, you’ll see a healthy decrease between about 25 and 48 percent, depending on the value.

• But if you plan to buy, get ready for an increase.

Real estate experts say this is one more burden that will hurt Grand Strand investment purchases, on top of insurance spikes, a tightening mortgage market and a slow real estate market.

Informing the public

Mincey, the county assessor, has just finished learning how to figure these reassessments from the state. He said South Carolina has never before taxed homes based on a current market value. Taxpayers won’t see the big bill until October 2008 for properties sold this year, he said.

• In 2009, the entire county will be reappraised, but current homeowners are protected under the 15 percent cap, Mincey said.

• The Assessor’s Office will start putting examples of the increases on its Web site, www.horrycounty.org, to inform residents about the change, he said, but didn’t say when the examples will be added.

Effect on investors

Realtors are concerned this will discourage people from moving to a new home to upsize or downsize and discourage second-home purchasers.

• “The investors don’t need to be zapped again after the insurance debacle,” Maeser said, adding that investment buyers make up about 60 percent of the Grand Strand market.

• “If Myrtle Beach didn’t have a 60 percent investment market, it wouldn’t be a big deal,” said Steven Neeves, government affairs director for the Coastal Carolinas Association of Realtors. “It has to affect it somehow and whether that is small or large, we don’t know.”

• Neeves also expects rents to rise after investors who bought properties get their tax bills. CCAR is planning a summit in October to bring brokers and lawmakers together to talk about the issue.

• At a home closing, taxes are usually calculated based on last year, but because that’s no longer the case, Neeves said CCAR is encouraging agents to have their clients call the Assessor’s Office directly to get the exact figure.

What to do now

Clemmons said the full effect of the tax relief isn’t really known yet - as far as how much permanent homeowners will save and how much new buyers will pay extra.

• “We don’t have all the answers yet because we don’t have all the questions yet. We haven’t yet experienced the tax relief. I think there’s likely to be more issues on the table than what we are even aware of now,” he said.

• Clemmons also is concerned about the impact on the investor buyers. “We want South Carolina to be the first place people think of when thinking of buying investment property. We need to keep that in mind as we take a look at changes in tax structure,” he said.

• As Clemmons has started to talk with lawmakers around the state, many didn’t realize the impact that part of the new law would have. “Horry County is on the front end. It’s something that has not yet come to their attention,” he said.

• Kremydas said the state Realtors are keeping close watch.

• “If we see that it’s blocking deals, we have to take action immediately,” he said. “Our markets need all the help they can get, and we don’t need to hurt it.”

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

Home prices on the Grand Strand are now showing declines for the first time, according to July sales statistics from the Multiple Listing Service.

• Analysts had been baffled for months about why the Strand’s home prices continued to show year-over-year increases.

• An adjustment was inevitable, and some analysts say it could be a sign the bottom is near, while others are less certain.

PRICES & SALES DOWN ~ Good news?

• Average single-family home prices in Horry and Georgetown counties fell more than 9 percent, from $294,135 to $266,926.

• The median price - meaning half sold for more and half for less - dropped about 2 percent to $220,000 from $224,155.

• The good news is that stability in the market wouldn’t happen until this price correction showed up, said Tom Maeser, president of the Fortune Academy of Real Estate.

CREDIT CRUNCH ~ How long it will last?

Maeser isn’t sure how much longer, and Mark Vitner, economist at Wachovia in Charlotte, said the last few weeks of tightening in the lending industry won’t help things.

• “I’d like to think the market is near bottom. We had projected that sales would bottom out this year, but the abrupt lending tightening means we could see more” sales drops, Vitner said.

• Buyers will have a hard time finding interest-only loans and may have to put down at least 20 percent of the purchase price, hurting the price of a home they can qualify for.

• Rates on jumbo loans, which are often used to finance beach properties, have risen dramatically in the last week, he said.

FEWER BUYERS

“The pool of qualified buyers is smaller than it was a month ago and much smaller than a year ago,” Vitner said. “We’ll see sales weaken over the next several months depending on how long this credit shake out takes.”

While Vitner does think we’re “very close” to the bottom - he says that just means that prices will stop falling.

“That doesn’t mean all is well in the housing market,” he said, because some buyers who have contracts on homes may not be able to get the loan they thought they could.

SELLERS CUTTING PRICES ~ Buying opportunity?

Sellers are finally getting the message that they have to cut prices to sell. They’re either doing that or if they don’t have to sell now, they’re taking their homes off the market.

With prices down, now may be a great time to buy.

BOOMER RETIREMENT

In the long term, Vitner says Myrtle Beach’s appeal and retiring boomers will keep the market on the upswing.

“There’s no question the housing market will recover. It’s just a question of when.”

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

Century 21 Coastal Lifestyles has partnered with Brentwood Homes, Inc. to market eight luxury homes which are currently being constructed in Myrtle Beach area neighborhoods.

Neighborhoods included are Tidewater Plantation, Washington Walk, Willow Springs and Plantation Lakes. Innovative designs showcase upgrades in cabinets, counter tops, flooring and porches along with relationships committed to developing family neighborhoods.

Brentwood Homes, Inc., the largest private builder in Charleston, recently received the “Sustainable Charleston” award for small business in recognition of its commitment to green building standards as certified by EarthCraft. Brentwood is the largest green builder in SC and among the top in the country.

EarthCraft certified homes are not only healthier to live in, but overall more comfortable, sustainable, and more energy efficient than standard constructed homes. In addition to the money saving features, the homes are built with high quality building practices to retain their value.

Edward L. Terry, president of Brentwood, builds neighborhoods in Atlanta, Jackson Hole and Sarasota and has been in the business for 35 years.

Century 21 Coastal Lifestyles is available to assist with relocation planning for families seeking new homes, for Baby Boomers rethinking their lives and for investors interested in learning about the market.

For more information contact Barbara Chartier at Century21 Coastal Lifestyles by phone: 843-902-0204, or email: Barbara.Chartier@century21.com .

The luxury home market has been booming on the Grand Strand in the past several years, but fewer million-dollar homes were sold this year compared with last year.

• So far this year, 115 homes costing more than $1 million have sold, compared with 124 in the same time period last year.

• Still, that’s way up from 2004, when 50 homes priced at more than $1 million were sold.

• The sales drop is not due to a lack of inventory. About 400 homes currently on the market are listed for at least $1 million.

Analysts say the drop is likely because many buyers are waiting to see what will happen to prices.

• “In this kind of market, you’re going to have a little [sales] downfall in all price ranges. Everyone I’m talking to says this is a short blip, and it will rebound in the spring. Many people are waiting until the first of the year to see what happens to prices,” said Tom Maeser, market analyst and president of the Fortune Academy of Real Estate.

• Maeser said the addition of luxury property is good for Myrtle Beach because the area now offers something for all income brackets. Luxury home purchases also stimulate the economy, he said.

In the luxury condo market, sales have been about equal to last year although more higher-end products have been added in the past year.

• Thirty-five condos costing at least $1 million have sold so far this year compared with 33 in the same period last year. That’s also way up from two that sold in 2004.

Analysts note sale prices are increasing by small amounts for single-family homes instead of large jumps like last year. Condo values, however, are falling.

• Investors have been watching the market and waiting to purchase during the past 14 months.

• Buyers are purchasing more as a second home than strictly as a rental property.

• Buyers recognize that in today’s market their rental income won’t cover their mortgage payments.

• Rental income now covers investors’ out-of-pocket expenses like taxes, utilities and insurance.

• Buyers are now purchasing for appreciation and personal use.

Source: Jenny Burns, Myrtle Beach, SC

It’s a BUYER’S MARKET on the Grand Strand as condo sales continue to slide, making little dent in a ballooning inventory. But single-family sales have held their own, topping last year’s record sales.

QUICK STATS- Third quarter 2006 compared with third quarter 2005:
Sales:
• Condos down 31 percent to 5,003
• Single-family homes up 1 percent to 4,506
Listings:
• Condos up 112 percent to 10,493
• Single-family homes up 60 percent to 5,291
Days on Market:
• Condos up to 186 from 89
• Single-family homes up to 143 from 104

PRICES - Real estate brokers say some condo prices are being cut, but single-family prices are holding steady.

• Insurance increases have especially hurt an already slow condo market where agents say they’ve lost sales in part because of a spike in homeowner’s association dues.

• Analysts said they expect renters to consider buying as condo prices fall.

INVENTORY

• Condos ~ Analysts say it will take more than a year to clear out the 10,493 condos on the market.

• Single-family homes ~ The market’s 5,291 single-family homes may take 10 months to be absorbed.

ANALYSIS - “I don’t look at it as a bad market. There are just two kinds of markets - buyers markets and sellers markets,” Maeser said. “We’re just going through a correction right now.”

• Sellers are having trouble backing away from the price their home would sell for in 2005.

• Buyers are aware the market has softened and aren’t willing to buy at any price.

• September and October have historically been good sale periods for condos on the Strand, but brokers aren’t seeing it pick up this year.

BUYER PROFILE - Maeser said the market is losing its rental income investor. Some have turned to the stock market after several years of investing in real estate.

• But the loss of the flippers - attracted to a hot condo buying frenzy - isn’t a bad thing, he said.

• “It’s not healthy to have that for too long. This has been good for the market,” he said.

Source: Jenny Burns, The Sun News, Myrtle Beach

Myrtle Beach ranks in the bottom half of the nation on the likelihood that prices for single-family homes will decline in the next two years, according to a study by The PMI Group.

RISK INCREASING

But the potential for a price drop has doubled since last year, the report says. Myrtle Beach’s chance of a price decline increased from 8.2 percent in 2005 to 17.5 percent in 2006.

• That’s because a 21 percent increase in home prices between second quarter 2005 and second quarter 2006 has hurt affordability.

• “That’s really high - a 21 percent increase,” said Beth Haiken, spokeswoman for The PMI Group. “Prices are increasing much faster than people’s incomes.”

• “A lot of the areas appreciating very quickly in the 20 [percent] to 30 percent range have slowed down. But Myrtle Beach its still going up. It could continue, since unemployment is low and employment growth is good,” Haiken said.

• But the market can’t sustain 21 percent appreciation forever, she says.

• “People’s income cannot keep up. That’s what we’re seeing in other areas around the country,” she said. “That’s not necessarily a bad thing. It’s a situation where houses and incomes are in balance.”

APPRECIATION SLOWING

Single-family home appreciation already has showed signs of slowing from its double-digit pace on the Strand.

• For the third quarter, the average price of single family homes is up 7 percent from last year, according to the Multiple Listing Service for Horry and Georgetown counties.

• “We’re already noticing price appreciation slowing. It’s conceivable that we could be a little above the national average [4 percent to 6 percent] next year because of the number of out-of-state buyers buying high-end product,” said Tom Maeser, market analyst and president of the Fortune Academy of Real Estate.

NATIONAL TRENDS

Nationally, the potential for price drops increased from 28.8 percent to 32.8 percent.

• And 18 of the 50 metropolitan cities ranked in the study face a greater than 50 percent chance that home prices will decline. That’s up from 13 cities in the first quarter.

• Year-over-year appreciation remained in the double digits in 20 cities and topped 20 percent in four - Phoenix and Orlando, Miami and Tampa, Fla. - while the rate of appreciation slowed in 41 of the 50 cities.

• The risk of price declines is concentrated in California, the Northeast, Fort Lauderdale, Fla., and Las Vegas.

Source: Jenny Burns, The Sun News, Myrtle Beach

There were 420 homes in the Myrtle Beach area with price tags of more than $1 million listed last week. Thirteen of them had prices in excess of $4 million.

They ranged from Georgetown to Conway to North Myrtle Beach. While there has been a slight slowdown in the local luxury home market, they are nonetheless continuing to sell.

At Grande Dunes, an upscale development between the Intracoastal Waterway and the ocean sales continue to do well.

• The development includes Mediterranean architecture, two golf course clubhouses, two 18-hole championship golf courses, a tennis and fitness center, a 25,000-square-foot Ocean Club, and a 126 slip marina within Marina Village.

People buying on the Grand Strand aren’t just looking for new homes, they are buying into a lifestyle. An increase in luxury home sales is expected next year.

Source: Garrison Wells, The Sun News, Myrtle Beach

For more infrmation on luxury homes, contact Barbara Chartier at 843-902-0204.

Myrtle Beach ranks 11th in the nation in one-year price appreciation for single-family homes, according to a study by the Office of Federal Housing Enterprise Oversight. Single-family homes appreciated year over year by 23.8 percent in the second quarter.

Myrtle Beach also topped the nation in quarterly price growth - ranking third in appreciation between the first quarter and second quarters of 2006 with a 6 percent increase. Only Bend, Ore., and Grand Junction, Colo., were higher.

• The metropolitan statistical area of Myrtle Beach-Conway-North Myrtle Beach hasn’t ranked in the nation’s Top 20 for appreciation since 1997, said Andrew Leventis, economist with the Office of Federal Housing.

• “It means that the super high end of the U.S. real estate market - the cities that have had tremendous high appreciation rates - are starting to come down. And places like Myrtle Beach appear to be continuing on,” Leventis said.

• “In general, markets in Florida are deciding to decelerate pretty rapidly. Based on this new data, it looks like the Myrtle Beach market and other areas are not decelerating as much as the south Atlantic,” Leventis said.

Nationwide the numbers show a different trend.

• U.S. home prices continued to rise in the second quarter but showed the biggest slowdown in three decades.

• Average home prices rose 1.17 percent in the April through June period, compared with 3.65 percent in the second quarter of 2005 - the biggest decline in price growth since the Office of Federal Housing started keeping track of home prices in 1975, the report showed.

• The agency cited higher interest rates and rising inventories of homes for sale as factors in the slowdown in price growth.

Leventis called Myrtle Beach’s appreciation an anomaly compared with the rest of South Carolina.

• Local analysts contend the national study proves that the Grand Strand single-family market has a strong future - despite a spike in inventory and slight drop in sales.

• In Horry County, sales of resale single family homes dropped 6 percent in the second quarter but the average price jumped 7 percent, according to Market Opportunity Research Enterprises, a real estate research firm in Rocky Mount, N.C.

“The crystal ball says that we’re in an adjustment period. We’re not headed for disaster and not in that bursting bubble. We’re in an adjusting market,” said Tom Maeser, local market analyst and president of the Fortune Academy of Real Estate.

• Helping the local market are baby boomers, who are moving in increasing numbers to the Carolinas.

• “I think you are going to see continued strength in the housing market in Myrtle Beach as retirees flock to the area,” said Al Parish, economist at Charleston Southern University.

• Parish added he doesn’t expect single-family appreciation to be as high as 23 percent next year. He says prices will increase about 8 percent.

• “Despite the appreciation, Myrtle Beach is still a good buy [compared with other coastal cities],” Parish said.

Meantime, single-family building continues. Permits for single-family homes increased 7 percent in the second quarter, while condo permits dropped 34 percent from last year.

But single-family lot sales fell 11 percent, signaling a downshift in land acquisition by developers, Maeser said.

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

Myrtle Beach’s big builders are offering big incentives to sell their oversupply of homes this summer. Buyers can get 4.25 percent financing, no payments until 2007 or free homeowners association fees for a year.

The deals are aimed at making cautious buyers during this real estate slowdown take the plunge and purchase. The payoff is in lower monthly payments and less upfront cash to get into a new home.

Incentive summary

• Centex Homes
4.25 percent financing on spec homes
$3,000 to $9,000 in HOA fees at several multifamily properties

• Lennar
No payments until 2007 in Brighton Woods
No closing costs

• D.R. Horton
5.875 percent financing with a 30-year fixed rate
Free HOA fees for a year at two multifamily properties

• Portrait Homes
Free HOA fees for a year and up to $2,000 in closing costs

• Ryland Homes
4.99 percent financing, a free bonus room and $15,000 in design options in Creekhaven at Prince Creek

• Independent Builders Development (local builders)
Financing starting at 4.75 percent in Sommerset Cove at The Gates, Tiger Grand, Bucksville Oaks and Southborough

Excess inventories

Some builders are seeing up-ticks in cancellations compared to last year, especially in condos. The single-family market is also taking a hit, but has seen fewer cancellations and has less excess inventory.

Builders are not only competing with each other, but with ballooning inventory. In the second quarter, condo inventory nearly doubled over last year and home inventory jumped 50 percent, according to the Multiple Listing Service for Horry and Georgetown counties.

The flurry of incentives is making it difficult for the Strand’s smaller local builders to compete. To fight back, one group has teamed up to offer a “buy down” - or lower interest rate - like the national builders.

Buyers benefit

Builders can also offer large incentives that homeowners trying to sell their home can’t, said Tom Maeser, president of Fortune Academy of Real Estate.

But such savings - which will be common as the buyers market continues - should be passed on to the consumer, not given to the real estate agent.

“These incentives should be providing discounts to buyers because they are the ones being impacted with the higher interest rates,” he said.

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

For your best buyer incentives: call Barbara Chartier at 843-902-0204.

Pre-construction reservations are now being taken for Balmoral, the first neighborhood within Withers Preserve - a single-family-home community. Homes will have three or four bedrooms and ground-floor master bedrooms, exterior porches and double garages.

Withers Preserve is a 560-acre project with 1,950 residential lots on the former Myrtle Beach Air Force Base.

There are also 70 acres zoned for commercial use, including 450,000 square feet of retail space, 300,000 square feet of office space and three hotels.

For more information, or to make a reservation, contact Barbara Chartier at 843-902-0204.

Source: The Sun News, Myrtle Beach