| Wednesday, April 18, 2007 |
| Myrtle Beach Condos For Sale |
Announcing our two new sites, The Myrtle Beach Condo Store and Myrtle Beach Condos.net .
We've got some lofty goals for these two sites.
David O'Connell's new companies are The Myrtle Beach Condo Store, The Myrtle Beach Home Store, and possibly another one or two to complete the real estate market here in the Grand Strand. Our condo store website will be the parent company site, with featured deals, MLS listings, and news about Myrtle Beach.
The Myrtle Beach Condos site is going to be the most complete encyclopedia of condos on the local web scene. We will have every important condominium complex from Little River to Pawley's Island, with photos, amenities, information, and contact forms to rent or buy.
It's going to be a very long term project, but one we are very excited about, and hope will provide a real service to our vacationers and those wishing to invest here. Visit us while we are building, and check back often. We hope to have it finished during the summer sometime.
More information soon on David's new companies and plans!Labels: David O'Connell, myrtle beach condos, myrtle beach condos for sale, myrtle beach real estate |
posted by Myrtle Beach Web Design @ 11:15 PM  
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| Monday, April 02, 2007 |
| Golf Course Condo News |
Myrtle Beach is losing several of its golf courses to condo and home developments. At least the plans were to do it last year. I heard that Centex has stalled on the development of Rivergrand in the old Bay Tree Golf course in Little River, and may even have it up for sale. Then I heard CENTEX was bought out! Both are unsubstantiated rumors, but from good sources.
Island Green Golf Course in Surfside was upgraded and placed some condos instead of part of their greens last year. I haven't heard if they are selling well or not. Our market is very sluggish right now, although it's a very good time for buyers to get some very good deals such as Leasebacks and lowered prices. Many of last year's planned condo projects have been cancelled, and some of the preconstruction condos have investors scrambling to sell at much better prices than the original ones. I think land and single family home sales are still doing pretty good. One in particular, Bay View Resort, has a couple of condos available from investors at prices from 2 years ago. This is a deal, too. Oceanfront, luxury, pools and all the amenities.
Actually, even the Myrtle Beach condos resales are still selling, since owners are not trying to get such high prices. We've always been half of what you'd pay for Florida or most of the other Atlantic coastal areas. And now if you're looking to buy a condo in Myrtle Beach or the Grand Strand, you'll get an even better deal.
Below is the latest press about the golf course condos at East Port. I'm sure there will be plenty more plans that stall out...
April 01. 2007 1:44 PM
Ruling stops developer from turning golf course into condos The Associated Press
A ruling by a bankruptcy court judge has stopped a developer from turning at least part of a North Myrtle Beach golf course into condominiums.
Eastport Golf Club homeowners have been fighting the redevelopment for close to two years. Their lawyer said the ruling sets a precedent along the Grand Strand and should be a lesson to homeowners to check covenants and restrictions when faced with possible redevelopment.
"It's an important decision as far as I'm concerned. The only other community that attempted to stop (redevelopment of a golf course) is Deertrack. All other golf courses have just closed in our area," attorney Patrick O'Dea said.
Judge John E. Waites said residential redevelopment is not allowed by the homeowners' deed restrictions, which say the property is for "golf course use only."
The golf course is owned by Eastport Golf Club, Inc., which is owned by Charlotte, N.C., businessman Mel Graham. He is disappointed with the ruling.
"I am however, happy for the homeowners at Eastport if indeed this is the outcome the majority of the residents really wanted. I must add that I do not believe that the leadership at Eastport understands the negative impact this will ultimately have on their community," Graham said.
Graham original plan in late 2005 was to turn the golf course into 1,100 condos. He could do so because the course was losing money. The earlier this year, Graham filed the course in Chapter 11 bankruptcy, and submitted a reorganization plan that would keep a smaller golf course but redevelop part of the property into 920 condos.
Now that he can't redevelop, Graham said he will attempt to sell the course. "Unfortunately, we do not know of any potential buyers at this time," he said.
An oversupply of golf courses has contributed to the closing of 16 other Strand courses for planned redevelopment since January 2005. Three courses at Bay Tree Plantation have closed within a few miles of Eastport, and at least two others intend to close nearby.
"There really isn't a market for selling these courses," said Rick Mendoza, attorney for Eastport Golf Club Inc. "It's going to remain closed."
Residents of the golf club are glad the condos won't be built and are waiting to see what happens next, Eastport Community Association president Don Metzger said.
"We're very encouraged that our community will be able to remain intact and continue as it now exists," Metzger said. "We hope that things can get back to normal."
Labels: golf course condos, myrtle beach condos, myrtle beach condos for sale, myrtle beach real estate, oceanfront condos, preconstruction investing, preconstruction pricing |
posted by Myrtle Beach Web Design @ 4:43 PM
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| Saturday, August 19, 2006 |
| Condo-hotels come to smaller cities |
Posted on Sat, Aug. 19, 2006
By VINNEE TONG
The Associated Press
CHANGING SKYLINES
When urban dwellers think of condo-hotels, they usually imagine sky-high city apartments that come with daily maid service, mints on pillows and the option to order chilled champagne for delivery at any hour.
In New York perhaps, their fantasy would not be far from reality.
More often, though, condo-hotels are proliferating into midsize and smaller cities across the nation and, in some cases, transforming the places where they’re being built.
Condo-hotel projects can be found in different stages of development in cities such as Myrtle Beach; Berkeley, Calif.; Provo, Utah; Pittsburgh and Little Rock, Ark. And they’ve been proposed for towns as varied as Yankeetown, Fla.; Asheville, N.C.; and West Wendover, Nev.
The founder of the Phoenix-based hotel chain Inn Suites decided about a year ago that condo-hotels might work for his 11 properties. Since then, chief executive James Wirth has started converting the company’s Arizona properties in Yuma, Tempe, Tucson, Flagstaff and Phoenix, nearly half of the company’s total portfolio. The conversions should be completed in six to 12 months.
More condo-hotels are being built because they simply make financial sense, experts say:
• Hotel developers can spread risk to condo owners and earn income from condo sales at the time projects are finished.
• In some cases, developers can break even upon completion.
Further, condo-hotels by nature are better suited to surviving than hotels on its own, experts say. “Condo-hotels earn like commercial hotels and appreciate like residential condominiums,” said Dante Alexander, the founder of the National Association of Condo Hotel Owners. Condo buyers investing in condo-hotels buy the unit and allow the hotel management to rent it out when they’re not using it, sharing the revenue. This arrangement makes the most sense in cities that get more traffic from travelers. In certain smaller cities, developers instead build hotels with residential units.
Projects of both types are in development in 31 states throughout the United States, said Jan Freitag of Smith Travel Research. This almost certainly is a rise, although industry watchers say it’s difficult to estimate by how much, since little historical data exists. “That’s been a concept that’s worked in places like New York, San Francisco, Chicago for a long time, and that’s now filtered into other areas,” said Chris Meyer, director of the Milstein Center for Real Estate at Columbia University. While resort and vacation destinations are getting their fair share of condo-hotels, developers proposing them for smaller towns meet greater resistance. In McCall, Idaho, a group called Save Our Skyline opposes a $25 million plan to build a 50-foot-tall hotel with condos and retail space on the shore of nearby Payette Lake. “My guess is that this is going to turn this town upside down,” a member of the group, Tuck Miller, told the Idaho Statesman. The developer of a hotel with residences in Idaho Falls, Idaho, proposes a 13-story, 800-unit project that would be the tallest structure around, beating out a water tower. And in Raleigh, N.C., a local developer plans to build two hotels with condos, 21 stories and 25 stories in height, at opposing ends of its downtown. A June 20 headline in the News & Observer of Raleigh read, “Builders want to lift the skyline,” and the story notes that the projects would change the face of the downtown area. Proponents of smart growth — characterized by greater density and development that more closely integrates work and home life — say the popularity of condo-hotels validates the idea that more Americans want an urban lifestyle. “We’re at a time right now of a great deal of change. ... I would say the traditional urban subdivision paradigm is breaking down,” said Adam Gordon, editor in chief of the magazine The Next American City. “We have much more complicated patterns of where people are moving.”
Condo-hotels are part of that changing landscape, and they are multiplying because they make market sense, said John Norquist, president of the Congress for New Urbanism and a smart-growth advocate. “We’re kind of moving from an era where cities were building huge convention centers, and now they’re actually doing something that the market wants, blended with a hotel,” Norquist said. “These are all things that are healthy. It shows common sense. Cities and consumers and developers are all getting something without having to subsidize each other.” ABOUT CONDO-HOTELS • Condo-hotel rooms make up 19.5 percent of the hotel rooms under development in the United States, according to Smith Travel Research. • The top markets are Las Vegas Condo-Hotels, representing nearly one-third; followed by Miami/Fort Lauderdale; Orlando, Florida Condo-Hotels.; New York City; Chicago; Tampa/St. Petersburg, Fla.; Myrtle Beach Condo-Hotels; Boston; and San Diego. NOTE: Data as of March 2006 Investing in Preconstruction Real Estate
Myrtle Beach Real Estate
Myrtle Beach Condos Labels: myrtle beach condos, myrtle beach condos for sale, myrtle beach real estate |
posted by Myrtle Beach Web Design @ 6:04 PM
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| Sunday, May 29, 2005 |
| Preconstruction Investment News |
Myrtle Beach Still Rides The New Condo Construction Tsunami with North Carolina Condos and Real Estate Following Closely Behind...
Myrtle Beach Preconstruction is still the hottest market for investment real estate, continuing to offer lower prices than its Florida sister, and rivaling Las Vegas and Arizona for baby boomers and investors looking for a fast return.
Unlike many of the older "bubble" areas, most of the developers of Myrtle Beach condos will still allow the buyer to "flip" the investment, meaning to re-sell the reservation on paper before the project is closed and the deed issued. In Las Vegas, the high-end preconstruction condo projects will no longer allow this, and according to several realtors there, if the condo is resold before two years time, the profit actually goes back to the developer! There are complicated ways around this, such as buying the property under an LLC corporation and then selling the corporation, but this is beyond the ability of most part-time investors. Coupled with the still reasonable oceanfront condo sale prices in Myrtle Beach, this is a strong draw for the Grand Strand investors.
Preconstruction in Myrtle Beach is booming, with new properties going up in all areas. Number one in the area for marketing these resorts is The Myrtle Beach Condo Store.
The company’s founder, David O’Connell, is Myrtle Beach’s leading expert in the oceanfront preconstruction market and indicates that the company presently has more than six hundred million dollars of resort property in various stages of planning, preconstruction and development. One of his higher profile projects is the Prince Resort Myrtle Beach at the Cherry Grove Pier in North Myrtle Beach. The first of 5 planned complexes is breaking ground at this time, and the second, across the street is planned to begin pre-sales in the next few weeks. Three more will follow them, both oceanfront and across the street again, for a total of 5 complexes. In addition to them, but unrelated are two smaller condominium buildings on the south side of the pier.
In North Carolina, Carolina Beach is in the middle of a renovation and hopes to innervate the city with several luxury resorts. Park Place is a water-front condominium complex presently in preconstruction stage and offering luxury units with all the amenities and beautiful water views of the various inlets that winds through Carolina Beach like liquid arteries.
With no end in sight to the many preconstruction opportunities, New Resorts is the number one source for investors and those desiring vacation condos. For more information, and to get on the mailing list to be informed of new construction developments, visit http://www.myrtlebeachcondostore.com or call David O'Connell at 843-455-5500.Labels: myrtle beach condos, myrtle beach condos for sale, preconstruction condos, Prince Resort |
posted by Myrtle Beach Web Design @ 6:53 AM
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| Saturday, February 12, 2005 |
| Prince Resort At Cherry Grove Pier |
New North Myrtle Beach Luxury Condos
The Cherry Grove Pier has been a landmark in North Myrtle Beach
for over 50 years, thrilling fishermen and sight-seers alike with its breathtaking views of the beautiful Atlantic Ocean. Cherry Grove offers a less crowded family beach atmosphere, while still surrounded by the best restaurants, shopping, and boasting the sparkling beach that North Myrtle Beach is so well known for. Now, buyers can enjoy this landmark, and own a luxury vacation home at the new Prince Resort Myrtle Beach.
Prince Resort will offer 1, 2, and 3 Bedroom oceanfront and ocean-view
suites and lock-outs. The amenities will include indoor/outdoor pools,
a lazy river, designer furnishings, and the sought-after premiums such
as crown molding, granite countertops, extra-large oceanfront balconies,
and every extra for the perfect Myrtle Beach Vacation.
For More Information, visit the website at Prince Resort or call:
The Myrtle Beach Condo Store
843-655-0555
Myrtle Beach Condos For Sale
Myrtle Beach Condos Encyclopedia
Labels: myrtle beach condos for sale, myrtle beach real estate, prince resort myrtle beach |
posted by Myrtle Beach Web Design @ 6:01 AM
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| Monday, November 01, 2004 |
| Where's the Hottest Place for Preconstruction? |
Some Beautiful Sarasota Florida Condos
Preconstruction real estate is big almost everywhere right now, but some areas are definately hotter than others. Myrtle Beach preconstruction is burning a hole in the sand right now...but it's much less expensive than most. An average 2-3 bedroom oceanfront condo here will go for under $400,000. The same real estate in Sarasota Florida would be twice that.
Las Vegas condos are really doing great as investments as well...and, again, are usually several hundred thousand dollars more than anything in South Carolina. But Myrtle Beach real estate will continue to rise in price until someday it will equal them. I would invite anyone to post an article about the preconstruction condos in their area here. The more information, the better.
Those of us who live in Myrtle Beach are seeing the prices of everything increase every day. Our golf condos are going up in value about $5000 a year. They are building everything up on the Intracoastal Waterway now, and this type of real estate is commanding as much as the oceanfront property. If you have the money, now's the time, because it is as low right now as it will ever be again. I truly believe that. Every day I am more astounded to see the volume of preconstruction real estate that is being built and sold. Our bordering NC beaches (Brunswick County) are said to be even more in demand now.
Last summer a condo project went up called Crescent Shores. It was not that large, but oceanfront and very impressive to look at. When it was pre-selling, it started out as much as $20,000 less than what it was finishing at 5 months later. Consumers were fighting over them, and the units were so hot as rentals during the summer that the tourists were renting them before the amenities were finished. They commanded and GOT top dollar for the rentals as well. I think anyone who invested in them came out with a big smile and a pocket of money...both from the price increase and from the rental income.
Condolux of North Myrtle Beach is in the middle of a preconstruction condo project right now, called Ocean Winds. It will be built on 48th Ave South, beside of the Barefoot RV Resort, and across from Barefoot Landing. The area in behind there is some of the most beautiful and pristine marshland that is left in North Myrtle Beach. These condos will overlook the marsh, be a block or so from the ocean, and will be unique and luxurious. Again, they are pre-selling like hotcakes...40-some units were snapped up in a little over a month, and at $250-$320,000 each. THAT is impressive!
From everything I've seen, anyone who can afford it needs to be looking into this kind of investment. Do a little investigating about the location, be sure the company that is developing the property is well established and respected, and get in it while it's still affordable.
Labels: myrtle beach condos, myrtle beach condos for sale |
posted by Myrtle Beach Web Design @ 10:24 AM
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To speak with a condo expert in Myrtle Beach, please call David O'Connell at 843-455-5500, or visit our new (and ongoing) website, 
