| Monday, December 31, 2007 |
| Myrtle Beach Real Estate Sales Statistics |
Taken from the NAR 3rd quarter results, November 2007.
According to the SC Board of Realtors, here are the latest figures from sales of Myrtle Beach real estate, including the area of Little River to Georgetown, SC.
The first quarter of 2006 produced 2785 sales of homes and oceanfront condos. The same in 2007 was 1904. Sales were down 31.63%.
The second quarter of 2006 had sales of homes in Myrtle Beach at 3319. The same this year was 2737. Sales were down 28.50%.
Third quarter home sales in the beach area resulted in 2611 sales. 2007 had 1912. Sales were down 26.77%.
In actual numbers of sales of Myrtle Beach area real estate, October 06 produced 814 sales, as compared to October 07 and 649 sales. Down 20.27%.
The same in November resulted in 758 in 2006 to 546 in 2007, down 27.97%.
For the year, numbers of homes and condo sales in Myrtle Beach were at 10287 in 2006 to 7384 in 2007. Total reduction of 28.22%.
Prices for the two year comparison dropped 5.67%.
What you have to consider is that in 2005, SALES skyrocketed and prices went up as much as 200%. When you add that into the equation, the sales and the price reductions in Myrtle Beach property are of very little consequence.Labels: myrtle beach condos, myrtle beach real estate |
posted by Myrtle Beach Web Design @ 4:43 AM  
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| Monday, July 16, 2007 |
| Las Vegas Real Estate Looking Better |
Las Vegas home sales are off by 40 percent, prices continue to fall and home builders have cut back on construction. PMI Mortgage Insurance Co. has called the city a “top at-risk market.”
With the inventory of homes for sale on the Multiple Listing Service climbing to a record 23,642 in June, certainly, the downturn has hurt real estate professionals in all areas.
“Experienced [real estate professionals] and mortgage officers are surviving, but those with less knowledge or a small network of contacts are leaving for a more steady paycheck," Robin Comacho of Direct Access Lending told the Las Vegas Review-Journal.
But not everyone thinks the sky is falling; Real estate consultant Steve Bottfeld scoffs at the notion that this slowdown is anything but temporary because the city is creating more jobs rapidly.
“What outside observers tend to miss – and sometimes even local analysts – is that this market is in the middle of a major transition. Things are changing and we think for the better," he says.
Other analysts agreed, saying Las Vegas' job creation will help create future demand for housing.
Source: Las Vegas Review-Journal
Real estate is slow everywhere right now, but the experienced agents who know their profession are still surviving...some quite well. It's not a marketplace for beginners or those whose hearts are not in it, though. Myrtle Beach real estate is doing fairly well during the summer tourist season, but still tough for those who don't have the marketing - especially on the internet.Labels: las vegas real estate, myrtle beach real estate |
posted by Myrtle Beach Web Design @ 1:54 PM
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| Monday, May 14, 2007 |
| Myrtle Beach Condos and Real Estate News |
Spring seems to be the prime time for the unveiling of new websites, and realtors are no exception. I've seen several new ones pop up. and my partner and I have also been hard at work.
My two main sites now are linked to Myrtle Beach Condos For Sale. David O'Connell has teamed up with Mike Benton and has a brand new company called The Myrtle Beach Home Store. We're having that website farmed out to include a back-end leads management system and the best MLS Listing on the east coast. Look for that in the near future. But in the meantime, our other division is the The Myrtle Beach Condo Store, with the website www.myrtlebeachcondostore.com . I've been working hard on that one, including a nice photo gallery I'll list below, and other stuff.
Our major endeavor is a website for all the Myrtle Beach Condos from Little River to Pawley's Island, www.myrtlebeachcondos.net . This website will be the biggest undertaking that I know of in these parts, and we're about to upload the first 30 some pages. Each of the major condos on the Grand Strand will be listed with photos, amenities, and address, with an option for people looking for rentals as well as an inquiry form for purchasing. We will incorportate the MLS into this site as well, and it should be searchable by the condo project.
Condolux Vacations has a newly renovated site for Myrtle Beach Golf Packages, located at www.northmyrtlebeachgolf.com . The new site will have updated golf course information, golf package deals for Spring and Fall, and the best discounts around. They have a new golf expert now, Craig Chinn, who loves his job and is enthusiastic and anxious to service his customers.
I've started a blog on Echo Forum for Real Estate Marketing, www.echoforum.com/blog/realestatemarketing.html . I've wanted to do this for so long, but seldom have time to write in yet ANOTHER blog. But I get so much attention to Echo Forum because it's an SEO tutorial, that I really want to share tips and information on that blog.
Hopefully when it gets some rank I'll be able to get some of the other SEO people to write an article or two as well.
Still working on my Myrtle Beach MySpace page . I truly think MySpace is one of the major marketing tools around right now. I've picked up "friends" made up of celebrities and as many realtors as I can hook up with. I hope when we have something special to sell I'll be able to make an announcement on there and get some business referrals from the many real estate agents that have a page.
Condo-World has purchased a major Myrtle Beach Golf website, www.mbgolf.com. This website has been number one for many years, and I think is affiliated with Golf Holiday. At any rate, it should really prove to be a tremendous money maker for them. It's impressively comprehensive and maybe just a little bit confusing...:-) But I'm sure it will do well.
Here are the links for the Myrtle Beach photos that I've put on the Condo Store site. I hope someone enjoys looking at them!
Oceanfront Condos In Myrtle Beach
Myrtle Beach SC Condos
Myrtle Beach Condos For Sale
Condos In Myrtle Beach
Condos For Sale in Myrtle Beach SC
Condos In Myrtle Beach South Carolina
New North Myrtle Beach Condos
New Condos in Myrtle Beach
Myrtle Beach Oceanfront Condos
Condos Myrtle Beach SC
Myrtle Beach SC Real Estate
Myrtle Beach Real Estate
North Myrtle Beach Real Estate
North Myrtle Beach Condos
Myrtle Beach South Carolina CondosLabels: condos, condos for sale, golf packages, Myrtle Beach Golf, myrtle beach real estate |
posted by Myrtle Beach Web Design @ 3:09 AM
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| 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, March 17, 2007 |
| Las Vegas Real Estate News- Verge Condominiums |
News from Diann Tonnesen in Las Vegas... VERGE, downtown’s newest mid-rise, mixed-use condominium community, had its Grand Opening ceremony on Thursday, March 15th. Mayor Oscar Goodman was there for the ribbon cutting and to give his insights on the exciting downtown redevelopment. Mark Stark, CEO of Prudential Americana and Darren Dunckel, the developer, were keynote speakers talking about VERGE's potential as part of the new downtown urban living environment. Downtown Las Vegas is currently undergoing an epic $14 billion revitalization to cultivate the first pedestrian-friendly, urban experience Las Vegas has ever seen. This comprehensive plan consists of new commercial, residential, retail, live-entertainment and dining establishments for the local patron to live, work, and play. VERGE, one of the first downtown Las Vegas condos to be finished, will be affordably priced from the mid $100s.  At the VERGE ceremony, housed under a massive white tent, hundreds downed free drinks and crab cake hors d'oeuvres while waiting in line to tour unit models in Verge's sales office. The crowd - 1,200 people RSVP'd for the party - was younger, maybe "hip," and definitely serious, with lots of talk about buying a condo for investment or living. And unlike the scene at similar parties for the multiple other condo projects around the city, this one was decidedly local. That, said Lance Bazil, director of sales, is what Verge was hoping for. "Our marketing campaign said, 'Before we go public, we go Vegas,' " Bazil said. "When you look at high rises going up, a majority of them, if you drive by at night, there are no lights on. VERGE’s location is walking distance to all the action, including the newly renovated Fremont Street casinos, the Block, Union Park’s World Jewelry Mart and World Market Center, the Smith’s Performing Arts Theater, The Lou Ruvo Brain Institute, Fremont East’s Entertainment District and much more. VERGE’s 296 residence community offers the latest in modern living, state-of-the-art architecture and design. There are 39 impressive floor plans including studios, one, two, three bedroom condominiums and spectacular lofts with 23-foot ceilings. Many residences have remarkable views of Downtown Las Vegas. Other onsite amenities include 2 rooftop pools; rooftop restaurant; on-site boutique grocery store; indoor racquet ball courts; fitness center with steam and locker rooms; secure access-controlled underground parking and entry; and a rooftop pet park. The VERGE development was inspired when the developer found an architect whose patent-pending design for modular building would decrease construction costs 30 percent from comparable projects. The preformed sections, carried to the site and put together like a puzzle, also speed up construction without sacrificing structural quality. Some estimates have put construction time for the building at just over 12 months, a record for any condo project in the Las Vegas real estate community. Starting Monday, March 19th, VERGE will be accepting first round reservations with a refundable deposit of $2,000. Unit selections and contracts will take place sometime in late May or June, at which time first round reservation holders, as a special incentive, will only need the balance of a 5% total down payment until close of escrow which is estimated to be in late 2008. To view sample floor plans and estimated price ranges, please go to: VERGE floor plans. Or for immediate assistance, please call the Tonnesen Team of Prudential Americana Group Realtors at 702-985-7654. VERGE is being marketed by the Prudential Americana High Rise Division. ## Labels: las vegas highrise condos, las vegas real estate, las vegas realtor, myrtle beach condos, myrtle beach real estate, prudential realtor las vegas, real estate marketing myrtle beach |
posted by Myrtle Beach Web Design @ 5:23 PM
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| Saturday, February 24, 2007 |
| Myrtle Beach Real Estate Agents |
I got a copy of something today that astounds me to no end.
The Coastal Carolina Board of Realtors sent out a mass email announcing some "affiliate" (a guy who used to work for them, I was told) has created 36 of a proposed 76 local real estate "directory" type sites - SEVENTY SIX of them! We NEED 76 more Myrtle Beach real estate websites, don't we? Although it didn't say so directly and encourage members to sign up, the email itself has sanctioned it.
It will be interesting to see how Google likes this little ring of power when they get going.
Matt Cutts, where are you? Read this, please!
For a list of the sites in the system visit www. MLSMyrtleBeach.com/sites.htm - By the end of 2007 there will be an additional 40 sites added to enhance the system. This will bring the total number of sites working to bring YOU clients, to a whopping 76.
I would guess that they'll be interlinked in some kind of triple or 4-way linking scheme.
Of course the realtors have to pay...and pay dearly.
Look at what one of the pages of the main site says about how to get involved....
www. MLSMyrtleBeach.com/future.htm.
No...I'm not about to throw them a link.
Not anymore, when someone finds your listing in their search and they desire more information, they will click on a link, fill in their name, city of residence and their email address, nothing else will be required. At that point we will test the email address to insure that it is valid. After we receive validation an email will be sent to you with the above information including the MLS# of the listing for which they have an interest. You will be charged a small fee of $9.99 only. That is it, no more large percentage referral fees, no more additional charges. You will see results by only paying for results, not paying for promises. At the time of signing up you will be charged a one time setup fee of $27. Since there are no other fees involved you will remain a subscriber for as long as you are active in real estate.
I have got to say this is one of the most outrageous things I've ever seen. A nice fat $10 per lead.
Then add to that the website people will be quite capable to be banking a copy of those leads for themselves...to sell a dozen times over. I'm in the wrong business!!!!
Not to say they will...but the option is there, and not too many people resist those kinds of options.
The realtors I worked with at New Resorts used to tell me they would sell about one out of every 30 leads. They aren't even doing that, now. That's a steep price to pay for a 3.3% or less chance at a sale.
Ah well..I guess if you can't afford to pay for your own website, it might be your next best option.
Then again, I don't think so.
There are too many other ways that cost a tenth of that. www.backpage.com
www.craigslist.com (free) and even some of the best real estate directories out there, such as www.Reals.com only charge $99 a year for an advertising listing.
But I think the part that upsets me the most is the BOARD OF REALTORS promoting this.
Talk about a captive audience. Or maybe even a conflict of interest. I just can't believe that any organization that is supposed to represent the best interests of realtors and the public would would single out something like this and send it out to all its members.
Unless, of course, there was some kick-back to them....
There are so many Myrtle Beach condo and real estate sites now that the search engines are just saturated. There must be 50 or more sites that have MLS search functions on them. What the heck...let's add a quick 76 more....with the same information re-worded and put out there 76 times.
This stinks in my book. Of course, I'm not a realtor. As a person who respects the search engines for the service they provide, I just hate stuff like this.
Real Estate Marketing
Great new Myrtle Beach Condo Leaseback Offer!
Myrtle Beach Hotels and CondosLabels: board of realtors, myrtle beach real estate, real estate SEO, real estate websites, realtors |
posted by Myrtle Beach Web Design @ 9:42 PM
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| Wednesday, February 07, 2007 |
| Myrtle Beach Real Estate Sales News |
According to our resident real estate expert at the Sun News, Jenny Burns, our real estate agents are seeing an increase in sales interest from January. My clients and websites are reflecting that as well.
Sales of Myrtle Beach condominiums are still low, but that is to be expected until the glut of building and large amount of available new condos is taken care of.
Myrtle Beach condo rentals are at an all-time high. My friends at Condolux had the best year ever in 2006, and are geared up for 2007 with about 10 new projects to add to their rental lists...from Kingston Plantation (seemingly the hottest place down here for rentals) to the recently completed resorts like Bay View Resort in Myrtle Beach.
This could very well translate into a better environment for sales...and certainly more traffic to the condos that have on-site sales offices.
According to Jenny, new homes sales fell more than the prophets expected it to. I guess even though they "created" the bubble in the first place, they aren't always powerful enough to control the market just by the word of their predictions. And yes, I said they created the bubble. I am firmly convinced that it never would have happened anywhere if they hadn't kept screaming about it ad nauseum for the whole year that sales were so high. It was a self-fulfilled prophecy.
They report that single family home sales fell 24 percent to 296 from 389 last January. Sales of condos in Myrtle Beach and the Grand Strand fell 35 percent to 276 units from 425. This according to the local MLS people.
It was also noted that some home prices dropped, but CONDO prices jumped 32 percent in average and 25 percent in median.
Days it takes to sell a condo increased from 160 to 345 days, while homes seem to sell much faster...only increasing to 160 from 143.
My friend Diann Tonnesen in Las Vegas predicted the turn around to take about 17 months from last summer. She's been in the business for more than 20 years, so I value her opinion. My group around here are perhaps a bit more optimistic. Myrtle Beach real estate sales tend to run much differently than some place like Las Vegas...or even the Florida beaches.
Also, our insurance crisis on condos is so in the news that I think buyers are waiting to see how that turns out. I'm seeing the leads and the interest, but there is more hesitation to buy unless they are looking for a personal vacation condo and feel like they can handle the price. And with rentals being so good, perhaps they can increase the price for them to help assuage the extra costs for HOA and insurance fees. People are going to come and vacation at Myrtle Beach regardless. It may slow down the spring breakers (no loss there) and maybe limit the number of days people stay. Perhaps in the future these condo rental places may need to make an availability for 3-4 day stays instead of requiring a weekly deal.
At any rate, it's very heartening to see more leads coming in and the various real estate websites doing well. Since I do real estate marketing, I appreciate it!
 Labels: condos, condos for sale, myrtle beach condo rentals, myrtle beach condos, myrtle beach homes, myrtle beach real estate, new condos, preconstruction condos, real estate marketing |
posted by Myrtle Beach Web Design @ 2:55 PM
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| Myrtle Beach Condo Market Drives Rental Rates Up |
These kinds of articles will certainly be very common in the years to come. The availability of even medium cost rentals close to the beach is so bad right now.
I live in Little River, about 4 miles from the beach, in one of the least expensive condo projects here. Our condos rent for $750 a month for a one bedroom! I don't know how any regular working stiff here could pay that much. And cramming many people into a one bedroom apartment will end up damaging the units in the long run.
I asked one of my clients who is a developer if they couldn't build some inexpensive condos on this big stretch of land beside us on Hwy 17. He did the addition, and with the cost of the land, he said you couldn't BUILD a 2 bedroom condo complex and sell them for under about $160,000.
That is amazing. With condo insurance rates rocketing this year, this is going to be such a problem for everyone.
Here's an article I found on WPDE Tv's website...
Rents could rise in Myrtle Beach
2/5/2007 6:37:47 PM
Myrtle Beach is the most expensive city for renters in South Carolina according to one local marketing analyst, and he says the prices could get even higher.
An article in USA Today says landlords are expected to raise apartment rents this year by 5%."No matter where we go, we want to hide," said Seymour Cass.
Seymour Cass left New York to escape the high cost of living. And now, he's not thrilled rent could go up."For people like us, who live on a fixed income, it's difficult, and it's only going to get worse," said Cass.
Market Analysis Tom Maeser says we're not seeing a hit right now, but rising insurance costs could change that and really affect the workforce.
"Our average rent for a two bedroom is around $712," said Maeser. "That takes an income of $13.65 an hour, but our main income in the area is $8.65 an hour, so there's quite a big step."
Right now, state lawmakers are considering increasing minimum wage from $5.12 an hour, to $7.25. But even if it changes, Maeser doesn't think it will be enough to handle the high cost of rent.
Newschannel 15 called several apartment complexes, and most haven't raised their prices as of yet. Lisa Brown is the property manager at Alexander Springs. She doesn't expect an increase greater than 10%. She says many apartment communities are waiving security deposits and keeping rates down to steer people away from condos.
"Last two years, we've had 11,000 condos and 2 or 3 apartments go through a condo conversion," said Brown. "We thought that would help us, in turn, investors have them on the rental market, and that hurt us."
But when apartment complexes must compete for business, it can mean a lower cost of living for renters, like Seymour Cass. Tom Maeser says a special task force was recently formed in Horry County, to look at making myrtle beach homes and apartments more affordable.
It's made up of people who live in the area, county council members, realtors, and developers.
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Try Condolux for an alternative to Myrtle Beach hotels.
Read about preconstruction investing.
Myrtle Beach Web Marketing at work...Labels: condo insurance, homeowners insurance, myrtle beach apartments, myrtle beach condos, myrtle beach homes, myrtle beach real estate, myrtle beach rentals |
posted by Myrtle Beach Web Design @ 2:13 AM
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| Thursday, February 01, 2007 |
| Real Estate Marketing News |
We've recently launched a couple of new websites for some talented young agents.
One, selling Myrtle Beach Real Estate, is Mike Benton. Formerly selling preconstruction with New Resorts, Mike branched out on his own with a condo conversion in Myrtle Beach out off Hwy 501. Coastal Villas was an inexpensive apartment complex used by many of the students with Carolina Coastal University and Horry Georgetown Tech. Mike and partner James Cole are renovating the apartments from top to bottom, and pre-selling from $109,900. These are some excellent low cost investment condos and are perfect for parents of kids going to the university for several years. Definately worth looking into.
In addition, Mike is selling a fantastic Myrtle Beach Oceanfront Lot in Grande Dunes, and has a friend who wants to sell a condo in Grande Dunes. Mike is also affiliated with a real estate agency out of Charleston.
Justin Chambers is involved with Kingman Arizona Real Estate with his family, and their agency plan is to have one person specializing in each area, from investment real estate, residential homes, and retirement property. I haven't been as closely involved with Justin as my partner Bryan has, but he is very impressed with Justin and plans to promote his projects using the www.condosandresorts.com website, which specializes in condo sales.
We are soon going to be doing some redesign and SEO on a couple of Myrtle Beach vacation sites as well.Labels: conversion condos, grande dunes, investment condos, investment land, myrtle beach, myrtle beach condos, myrtle beach real estate |
posted by Myrtle Beach Web Design @ 10:04 PM
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| Thursday, October 05, 2006 |
| Myrtle Beach condos in the news |
Permits for new Myrtle Beach condos down sharply Resale market slow; single-family homes still sell
Associated Press
Myrtle Beach, S.C.
The softening real estate market in the Grand Strand has slowed condominium building.
The number of condo building permits in Horry County dropped 34 percent in the second quarter, from 1,105 last year to 724 this year.
New condo sales fell 31 percent and the resale of condos fell 26 percent, according to Market Opportunity Research Enterprises, a regional real estate market research firm in Rocky Mount, N.C.
But some analysts don't see the slowdown as a long-term problem."We don't see this as an extended downturn. Although it seems sharp right now, it is sharp only in the very short term as builders try to adjust from the excess of their starts late last year," said Bernard Helm, president of Market Opportunity Research Enterprises, which tracks real estate markets in the Southeast.
There are also a lot of condominiums on the market. A number of concerned developers have called Tom Maeser, market analyst and president of the Fortune Academy of Real Estate, because there are about three times as many condos on the market this year compared to the same time last year.
Developers are cutting back on what they build because they may have trouble meeting bank requirements that say they should sell 80 percent to 100 percent of the units before getting a construction loan.
Meanwhile, the market for single-family homes in still going strong in Horry County.
Single-family building increased 7 percent over last year to 1,535 homes, even though sales of new houses stayed flat and resale homes fell 6 percent.
This could be good for home buyers, some analysts say.
"Builders will have some excess inventory, and that will end up being good news for consumers. They have to work out that inventory and that means softening prices," Helm said.
"In Georgetown County, sales of existing homes have declined slightly, but new home sales are up 60 percent, to 104 homes this year."
Georgetown County is getting ready to do what Horry County has already done. It's good on new houses but has problems in resales," Helm said.
"The decline will happen in new home sales."
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My thoughts:
We've got a HUGE amount of condos in Myrtle Beach that have to be consumed before they continue to build more. The land owners that got on the bandwagon too late need to hold off for a year or two and let the present glut sell before they take on yet another new development.
Myrtle Beach condos are still the best investment real estate on the east coast. Right now is probably the best time of all to BUY a condo...there are incentives everywhere and prices have dropped a bit since last year. You should be prepared to hold on to it for a year or so. But you can make so much on rentals that it's not a lot of out-of-pocket expense during that holding time. And you can use the condo yourself instead of shelling out $1000 everytime you want a beach vacation. The conversion condos like Sea Mist Resort and Patricia Grand may be some of the best deals anywhere for this kind of investment.
I also hear first hand that real estate in Charlotte real estate and Raleigh, North Carolina are hot as a firecracker right now. Looks like last year's hot spots are cooling down and sharing the wealth with the ones who were slack then.
The economy is strong and us baby boomers rule. If you can afford a vacation condo or home, go for it. This beach has never seen a long term downturn in real estate prices. We've got beautiful new developments like Prince Resort Myrtle Beach and great bargains like Coastal Villas at CCU. Give us another year or two and we'll be back in the sun again!Labels: myrtle beach condos, myrtle beach real estate, patricia grand, sea mist resort |
posted by Myrtle Beach Web Design @ 5:51 AM
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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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| Thursday, August 17, 2006 |
| Myrtle Beach Real Estate |
Myrtle Beach Condos and Investment Real Estate
I guess everyone is aware that the big real estate investing boom of last summer has subsided somewhat.
Last year reminded me of a twice a year happening we have in Myrtle Beach, when an unbelievably large school of fish makes a migration through here. In March and October, a small and "tasty" fish called "spots" come through the entire area in HUGE schools, close to the shore, and right under and around the piers. Pier fishermen (and women) bring huge garbage cans, coolers, barrels, and anything they can find to put ice in, and literally throw out a line and bring in 3 and 4 fish at a time, often without even baiting the hook. I did it myself one year, and while it's cool to catch 200 fish in 30 minutes, there was no sport or challenge to it, and then you're stuck cleaning all those fish!
That's the way it was with condos and any other kind of resort real estate last summer.
Myrtle Beach condos were so easy to sell that there weren't enough to go around for all the people looking for investment real estate. All you needed to do was talk about a new resort and there were buyers begging for the product.
Of course this was going on in Florida and many other areas, too. Developers went crazy everywhere, and the market became saturated. As the months passed, interest rates climbed with mortgage companies, all the investment gurus kept predicting doom and gloom in the press, and eventually it became somewhat of a self-fulfilled prophecy. Sales slowed, and investors got scared and backed off. The ones that got in on the condo boom in the beginning made gigantic profits, and the ones that waited either lost out, or may now be facing a choice of closing on the preconstruction or losing their deposits.
By no means has there been a real estate bubble or crash. I think every bit of this has been caused by the doom predicters. And the agents and people who know what they are talking about are all saying that this is only a slow-down, and another wave will hit in about a year and a half from now. My only other concern is how high condo insurance may end up going.
The good news is that now it's more of a "BUYER'S MARKET". For those who don't choose to believe all the pessimists and invest in condos and resort property now, they will get even bigger discounts and perks, and when it picks up again, they will be in the same boat with the ones who bought in the beginning of the other boom. Real Estate investing is not for the worriers or the wimps...I think you have to have the nerve to take a chance and get in early to reap the profits.
A guy who is near and dear to me never stops buying. It would terrify me to borrow and spend right and left on every kind of real estate in Myrtle Beach, but he is building so much wealth that I doubt even HE knows what he has. And in about 10 years he will be so rich that we will all be shaking our heads in disbelief. If you've got the money, the credit, the right intuition, and the nerve to commit everything you have, you'll come out on top. I see him doing this every day, and my admiration for him knows no end.
Myrtle Beach is still underpriced compared to Florida and the other hot vacation spots. The developers are offering incentives right and left. Anyone who is looking to invest in real estate and can hold their investment for a year or two will be smiling then.
Here's a recent article about the local market and some of the discounts and perks the developers are offering. If you are thinking about investing at all, you should read it and think hard about taking the plunge before it starts back hot and heavy and prices jump again...
Home builders offering incentives on S.C. coast
Special deals aim to pick up sales among wary buyers in shaky market
By JENNY BURNS
jeburns@thesunnews.com
MYRTLE BEACH — Big builders, taking cues from the auto industry to sell their oversupply of homes, are offering big incentives along the S.C. coast.
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 buy.
“(National builders) are seeing sales falling in general, seeing cancellation rates pick up, and they’re using the incentives to help drive sales and use it to sell inventory that they didn’t plan on having,” said Todd Vencil, analyst for BB&T Capital Markets, who covers eight publicly traded home builders.
For consumers, the payoff is in lower monthly payments and less upfront cash to get into a new home.
While incentives are normal, Vencil said this summer’s incentives go beyond the typical appliance upgrade and free closing.
“They’ve clearly picked up,” he said.
One example is Centex Homes, the Grand Strand’s largest builder. The company is offering 4.25 percent financing with an adjustable rate mortgage. On a $150,000 home, that would make monthly payments about $738 before insurance and taxes are figured in.
That rate is only on spec homes that close by Oct. 31 in most Centex neighborhoods, said Ken Balogh, Myrtle Beach division president.
For a 30-year fixed mortgage, that rate jumps to 6.5 percent.
Balogh said Centex wants to take rates down to last year’s level to help buyers fight rising rates.
The builder is seeing an uptick in cancellations compared with last year, especially in condos, he said.
Builders also are looking at ways to ease the pain of skyrocketing insurance rates along the Grand Strand.
For instance, Centex is paying homeowners association fees between $3,000 and $9,000 in most of its condo and town home projects.
Some Strand condo complexes have seen double and triple increases in their fees because of insurance hikes.
“We can’t fix the insurance challenges but we can help our customers to overcome a year or two of that increase,” Balogh said.
Builders aren’t saying how long they’ll be touting incentives, but analysts expect the enticements to stick around a while.
myrtle beach real estate
Jenny Burns is a reporter for The (Myrtle Beach) Sun News, a McClatchy newspaper.Labels: myrtle beach condos, myrtle beach real estate, real estate investment |
posted by Myrtle Beach Web Design @ 2:19 PM
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| Sunday, February 26, 2006 |
| Myrtle Beach Restaurants Target a Wealthier Clientele |
Bargain hunters doomed to frustration - hot resorts nationwide “Going Gourmet”.
By Jan Chilton, Myrtle Beach Web Design
Myrtle Beach, SC (PRWEB) February 25, 2006 -- As budget hotels give way to luxury condo resorts in Myrtle Beach, pricey themed restaurants are becoming the new trend in the Grand Strand. The upscale chains like Bonefish Grill, Carrabbas, and 5 star steak-houses such as “New York Prime” are nudging out the small local hideaways.
Nationwide, the wealthy baby boomers are changing the landscape and the typical vacationer in the major resort areas looks for the gourmet dining experience instead of country buffets, fast food, and inexpensive family diners. High-end fresh seafood and steaks, grilled and prepared with unique sauces and salads, make restaurants like “Bonefish Grill” fill to capacity nearly 7 days a week. Italian classics with only the best ingredients pile hungry diners into “Carrabbas” and “Olive Garden”, while the smaller places find it hard to compete.
With the many new Myrtle Beach condos causing an increase in lodging prices, there are concerns about the area becoming less of a family beach and catering to the affluent, such as the towns like Sarasota and South Beach have done. Retirees and large families on a budget are likely to find a week at the beach more costly than ever.
A typical meal at any of these Myrtle Beach restaurants can run anywhere from $20 to $30 a person. A family group will end up with a bill equal to a night's stay in the budget hotels in Myrtle Beach just a few years ago.
Locally, luxury resort sales show few signs of a slow-down. Indeed, this month, CNN Money predicted home prices in Myrtle Beach to increase more than 7% in 2006.
David O’Connell of The Myrtle Beach Condo Store, the area preconstruction marketing expert, maintains that Myrtle Beach condo sales are as strong as ever, and expects this year’s numbers to exceed 2005.
Joe Russo, a broker with Exit Grand Strand Realty says states, "In 2005, Myrtle Beach, Orlando, and Naples, FL were touted as the three top areas for income producing real estate. When you consider the lifestyle diversity offered by the many coastal towns on the Grand Strand; it's no wonder that real estate values have increased substantially. With no end in sight, Myrtle Beach real estate is still an excellent investment.”
A native of New York and Connecticut, Joe says that the restaurant business has always been fiercely competitive in the northeast, but never as fierce as today.
“The New York metropolitan location is a prime example," he adds. "This area is so ethnically diverse that you can find restaurants offering gourmet delights from all four corners of the earth. With excellent food being the norm rather than the exception, restaurateurs have begun to emphasize amenities such as alfresco dining, theme decor, and enhanced atmosphere, all of which increases the real estate value of their establishments. In addition, baby boomers are now reaching retirement age and often relocating to resort areas. They bring their taste for high quality cuisine with them. Restaurant owners in Myrtle Beach are now facing fierce competition."
Diann Tonnesen, top Las Vegas Prudential real estate broker agrees.
“Out west the rush is on to lure the biggest names in the restaurant industry to staff the elaborate and lavish Las Vegas high rise condo restaurants being built. Last year more restaurants opened in Nevada than in any other American state.”
“The booming Las Vegas real estate industry has created an insatiable demand for high end eateries as the "Strip" transitions away from all-you-can-eat buffets to elegant gourmet dining. Currently Las Vegas is home to five of the eight James Beard award winning chefs. A search for Las Vegas restaurants on the Internet shows over 19,000,000 results."
Over in the far west out in the Pacific Ocean, Hawaii tourism brings the same results. Jeff Manson of American Dream Realty on Oahu, reports,
“According to Pacific Business News, February arrivals are up 2.5%, and Honolulu arrivals are up 6.3% compared to 2005. The Hawaii hotels have been averaging around 80% - 85% occupancy this year. This boom in domestic travel is fueling a hot Hawaii real estate market as well.”
“The Oahu Luxury real estate homes have been selling at a record rate, increasing the demand for fine dining. Restaurants such as Roy's, Alan Wongs, and Hoku's at the Kahala Maderine Hotel maintain full reservation lists. There are 3,800 restaurants in Hawaii, and 14% of the states employment is in 50,000 restaurant jobs.
Annette Smith of RE/MAX Properties in Sarasota Florida adds, "The booming luxury Sarasota real estate market has created new gourmet restaurants in the city and along the waterfront. Sarasota has long been known for its culture, shopping and upscale cuisine. Complimenting the waterfront dining venues, a new downtown Sarasota condo market has created a more cosmopolitan atmosphere in our city. After attending an Asolo or Van Wezel performance, hotel guests and performers drift over to the Hyatt Hotel’s Boathouse Restaurant which offers a late night fare. Also, Sarasota’s first downtown Starbucks is bustling with tourists and residents alike. "
As the baby boomers proceed to take over the economy, their pursuit of plush surroundings and a trendy atmosphere will continue to affect entertainment and dining venues.
The king of all baby boomers, Donald Trump, expresses it well when quoted as saying,
"I wasn't satisfied just to earn a good living. I was looking to make a statement."
We’re a hedonistic generation, that’s a fact.
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Myrtle Beach Web Design handles Internet marketing for several area real estate agencies and vacation rental companies, as well as providing search engine and marketing assistance for a network of friends and clients in the real estate field all over the US.
For real estate information in these resort areas, contact the below contributors:
David O’Connell
The Myrtle Beach Condo Store
Myrtle Beach, SC
843-455-5500
www.myrtlebeachcondostore.com
Diann and Glen Tonnesen
Prudential Americana Realtors
Henderson, Nevada
702-596-7821
www.greatlasvegashomes.com
Joe Russo
Exit Realty
Garden City Beach, SC
866-651-0500
www.jorusso.com
Jeff Manson
American Dream Realty
Kailua, HI
808-792-7000
www.adrhi.com
Annette Ashley Smith
Re/Max Properties
Sarasota, FL
941-308-3814
www.annettesellssarasota.comLabels: Hawaii real estate, las vegas real estate, myrtle beach condos, myrtle beach real estate, Sarasota Real Estate |
posted by Myrtle Beach Web Design @ 6:37 AM
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| Wednesday, January 25, 2006 |
| Myrtle Beach Real Estate Is HOT! |
Say what they will, Myrtle Beach condo sales are still flying high. My own opinion is that the resales of older condos has dropped off substantially because they increased the prices to match the new construction. It just doesn't work like that. I don't think our NAR records will ever be correct because of them adding preconstruction figures in on it, simply because they don't close for a year or two years after they start pre-selling. That skews all the figures, and they shouldn't be listed on the MLS at all. Florida accepts this and doesn't. Anyway, accurate or not, this article shows what kind of increases we are dealing with. A 12 year record, to be exact!
Home appreciation in MB sets state record
JENNY BURNS
Grand Strand real estate set a record year for price appreciation - higher than any seen in South Carolina in the past 12 years.
That's as far back as the S.C. Association of Realtors has kept records.
For 2005, condominiums and single-family homes combined appreciated 26 percent in median price on the Strand, according to the association's statistics.
The median price - meaning half of the homes sold for more and half for less - jumped from $137,000 to $172,000.
Second place wasn't anywhere near that: Beaufort came in with a 15 percent increase.
"That is the kind of appreciation you've seen in the really hot markets in California and Florida where you've seen properties escalate at significant amounts. I mean this is not just double digits," said Jim Peters, chief executive officer of the S.C. Association of Realtors.
MORE...Labels: condos for sale, myrtle beach real estate |
posted by Myrtle Beach Web Design @ 1:52 PM
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| Sunday, November 20, 2005 |
| Myrtle Beach Condos Still Seducing Investors |
New Resorts LLC of Myrtle Beach keeps real estate sales and resort condo developments soaring, despite reports of slowdown in other areas.
Myrtle Beach, SC (PR WEB) November 14, 2005 --The demand for preconstruction condos in Myrtle Beach is still surpassing everyone's expectations, even in what would normally be the slowest time of the year.
“Good quality resort condominiums like the Anderson Ocean Club or the Prince Resort Myrtle Beach, will always stand above the garden variety projects that are so often seen along the coastline”, says David O'Connell, of New Resorts.com in North Myrtle Beach.
“We have seen no evidence of a “bubble”, and in fact, sales of Myrtle Beach condos are still moving at a brisk pace. We’re having a hard time finding enough good agents to hire so we can handle the amount of leads that are coming in”, he adds.
Ernst and Young, a national housing authority, recently announced to the San Francisco NAR that despite such warning signs as housing sales slowing, and prices falling in some Florida cities or Las Vegas, they do not expect any bubble in the housing market to pop.
E&Y's director of housing, Steve Friedman, was also quoted as saying, “There’s no national housing bubble, only ‘bubblettes’ in markets like Las Vegas.”
O’Connell is often contacted by buyers and brokers that would normally be re-investing in areas like Florida or the west coast, but are choosing Myrtle Beach real estate instead. Even as those other areas of the country seem to have reached a peak, Myrtle Beach real estate still seems to be under-priced and the SC coast continues to be one of the hottest areas for real estate investments.
What took other companies 15+ years to achieve, New Resorts.com has done in the first 12 months of operation and touts itself now as the “Number One Source for Preconstruction in Myrtle Beach”.
Indeed, he has just signed a marketing agreement for the single largest resort condominium project on the Grand Strand, the new Sea Mist Resort.
The company bases its marketing efforts on a high internet profile, newspaper and magazine saturation, and an ever-growing number of satisfied investors. Many of them have been getting in early and purchasing multiple units and putting them up for resale, “flipping” them as soon as the developer sells out his inventory.
“I’ve done extremely well with the 6 units I’ve purchased in the last 13 months”, says Dr Steve Miller of Florida. He goes on to say, “Compared to other markets around the country, I get a lot more for my money in Myrtle Beach.”
Partnering with ACC Investments, who specializes in 1031 exchanges and other investment services, New Resorts.com is able to offer a complete package of real estate investments and capital gains management programs for every type of investor.
“We represent the leading developers and the finest resorts in the Grand Strand,” O’Connell states. "And oceanfront investment condos will always be in high demand.”
Strand Capital Group LLC is one of the most prestigious resort developers in the Grand Strand area, and has commissioned New Resorts to market what Mayor Mark McBride described as the largest condominium resort development in the city limits of Myrtle Beach. The New Sea Mist Resort redevelopment encompasses 12 acres and promises to improve downtown Myrtle Beach in a major way, providing as many as 1700 new and conversion condos for the crowd of vacationers that arrive at the beach every year.
The project begins with a conversion of the existing 268 Oceanfront/Ocean-View studios in the Driftwood and Tide Buildings, which are now pre-selling at unbelievably low prices starting in the low $100,000’s.
Phase A of the pre-construction redevelopment is also releasing as the "New Oasis" tower, with 1, 2, 3, and 4 Bedroom deluxe condominiums from $399,900 to $700,000+.
Ernst and Young reported, “Many baby boomers have paid off the mortgages on their primary homes and are investing some of the equity in second or vacation homes.”
Friedman was also quoted as saying, “With 79 million affluent boomers, demand for second homes will continue to grow as more boomers reach retirement age.”
David O’Connell confidently shares this opinion, and says that he expects Myrtle Beach and New Resorts.com both to continue to grow and improve for many years to come.
UPDATE: David O'Connell has since partnered with Mike Benton and founded The Myrtle Beach Home Store and The Myrtle Beach Condo Store. The new companies specialize in resale condos in Myrtle Beach, as well as residential homes and investment property in Myrtle Beach.
See our other press releases:
Myrtle Beach Waterway Condos
Preconstruction Condos
Preconstruction News
Preconstruction Condos Directory
Coral Beach Resort CondosLabels: myrtle beach condos, myrtle beach investment property, myrtle beach real estate |
posted by Myrtle Beach Web Design @ 3:58 AM
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| Friday, October 14, 2005 |
| Real Estate SEO tips |
I got an email from a realtor that I exchanged links with the other day and answered it. It was a pretty good Q & A, so I thought I might post it here.
From: A Realtor
To: Jan
Sent: Monday, October 10, 2005 8:14 AM
Subject: RE: My Realtor® agent site links to your site
First off I sincerely appreciate the fact that you have taken the time to share your knowledge with a total stranger. I would be more than happy to exchange home page links with you.
If I could quickly ask you a few more questions you may be able to steer me in the right direction.
Here is a list of things I am trying now to promote my site. Please tell me if they are a waste of time.
1.Generating XML sitemaps and submitting them to google weekly
Excellent, except you don't need to "submit" them. That's what RSS and XML do automatically.
2. Using web position4 to optimize my site for certain keywords and to track my performance
Would not use any kind of software at all. It's against the TOS of all search engines.
3. Just starting to use RSS Feeds to display my listings for newsreaders.
Excellent
4. Thinking about writing real estate blogs or using a real estate message board on my site.
The very best thing you can do is a real estate blog. See mine...
www.myrtlebeachwebdesign.com/blog/real-estate-web-blog.html
5. Reciprocal linking with every large directory I can find like Reals.com and Realestateabc.com etc...
Not every one. Be sure the links are straight html anchor text and not redirected or javascript. Most are.
6. Linking to a handful of top 100 lists
I've not seen any that helped or were very good PR. Only good if they are permanent.
7. Paying a few local web directories for animated gif links www.directory.com www.another-directory.com I doubt if any graphic link does you much good. Maybe a little if you be sure to use Alt text with keywords. Probably a waste unless it's for advertising and not SEO.
8. Paying realtor.com to be able to "enhance" our listings (add more photos and text)
Again, be sure it's not a redirected link. Check the PR of the page your link is on. That said, Realtor.com is a very highly popular website, so for advertising potential, it might be worth alot. I don't advise my customers to do it, but many do. I don't advise against it if the links are done right. I think REALS.com and most of its affiliate sites are the best directory links, and they are free. There are some other excellent free real estate directories out there, too.
9. Submitting to every free search engine I can find.
Directory maybe...search engine, I wouldn't. See above.
Is google still using PR links? Where can you find out your PR Rating.
Download the Google Toolbar from Google site and you can see the PR of every site in your browser. Yes, links are just as important as ever with Google, if that's what your question is.
I've been using Alexa to get a general feel for how well my competitors are doing. Are there any other methods you would recommend for tracking both your progress and that of your competitors?
I don't use Alexa nor track progress. When it shows, it shows...and I cheer...:-)
Thank you for the suggestions. It is difficult learning all of this from scratch, never knowing if the things I read on the web from various sources will actually help promote my site or are a waste of time. One last question, how much should I expect to pay a good real estate SEO and how often will they have to update the site?
I have been paid as much as $10,000 on one site that wanted me bad enough. Thank God I was able to do the job! It was a scary few weeks. I wouldn't take full payment until it was done, either. A good average might be about $1000-5000, depending on whether they do the site from scratch or just go over yours for you or your webmaster to make the changes.
There are not very many (if any) good real estate SEO companies per se. There are a several outstanding SEO companies that don't necessarily specialize in real estate. They can do an excellent job, but some still use interior link pages and charge an ongoing fee to obtain hundreds of links. Getting a company to optimize your text is a good idea. Getting an SEO copywriter is even a better idea. The links you should either do yourself or even better, do press releases, post on forums, write articles, and other ways of getting your links out there. Be sure to get on Google and Yahoo LOCAL listings.
I do not recommend interior links pages for real estate site optimization any more. That's just my personal opinion, as I see pages full of links being downgraded by Google every day. Yahoo despises large numbers of links, too. You can check the PR of the page your site would be on, but it's just as likely to be dropped to near nothing in the next update. The best thing to do other than what I mentioned above is to contact fellow realtors and create a referral network.
That way it serves you both ways. Most web-savvy realtors are now doing this.
It doesn't hurt to have SOME interior page links, but I wouldn't waste my time and money having an SEO company to do them. I don't even create links pages on my new sites. Haven't for over a year.
Make sure your titles use the correct keyphrases, research WHICH keyphrases to use for your city/area, and make sure each individual page has it's own metatags.
Newsflash for Newbies: Google does NOT count Metatags except for the title and possibly the description tag. Yahoo is the only one that does, as far as I know.
Hope this is good information for those who might ask the same questions....:-)
Most of my stuff is about Myrtle Beach Condos. Pay attention to the links in this blog. That's why blogs are so good!Labels: myrtle beach real estate, real estate marketing, real estate SEO |
posted by Myrtle Beach Web Design @ 12:58 AM
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| Saturday, October 08, 2005 |
| Preconstruction Boom Creates Statistics Problems in Myrtle Beach |
For once I have decided to list my own rant about things that I see, being exposed to realtors and real estate people day in and day out.
I'm not a realtor, agent, broker, seller, or even a buyer. I just do websites and real estate marketing and SEO advice, mostly to real estate agents.
In the Myrtle Beach real estate market right now, there are as many as 15 condo resorts going up at the same time. It takes about 2 years from sales release to closing, and there are numerous ones in different stages right now. I may be underestimating. Maybe there are 25-30 or even more that are either "reserved" or being purchased right now.
On average there might be 300 units in each building...usually 1, 2 or 3 bedroom units both on oceanfront and on the sides. Most often they will be furnished, so they'll all basically look alike.
Just to simplify, lets say out of the 300 there are 50 of each kind...(1 bedroom oceanfront, 1 bedroom oceanview, etc) So 50 of them are identical in most cases.
When a nice project is released, an company like New Resorts LLC in North Myrtle Beach can often sell them out in less than a week. It varies according to the project, location, and whether it's a new preconstruction or a hotel conversion. New construction often sells faster, although to me, a hotel conversion is the better deal...even though the units may be smaller.
Personally, (and I was a tourist for 30 years before I was a resident in Myrtle Beach) I think most vacationers are most interested in the location and the amenities...not whether their rooms have 400 sq ft or 700 sq ft. After all, they aren't going to live in them...just stay there for a week or less. Granted, if you are among those lucky enough to be able to afford to buy an oceanfront condo in a grand resort for your own personal enjoyment, then it matters. But even with that scenario, I've seen the majority of the owners still be more concerned with that rental income than they are with their family being less cramped for a week. Seldom do THEY stay more than a week at the time either...so it's all the same.
Again, I think a hotel conversion in Myrtle Beach is the best investment. My opinion. Take it for what it's worth. Find out what the rental income is on a one bedroom in Coral Beach Resort after it's converted, as versus a one bedroom in Avista Resort in Ocean Drive. Not a completely fair comparison due to their locations...but I'll bet there won't be alot of difference. Coral Beach units are 200K plus. Avista is probably 400K plus right now.
Anyway, back to my original subject...the way the condos are being built right now....
If there are even 10 resorts going up at the same time and they have 300 units, then that is 3000 condos that are for sale...or DOES IT?
A recent article in The Sun News, Condos Crowd Listings, drew quite a bit of attention from the people I know who are presently investing in preconstruction.
To quote:
More condominiums are for sale on the Grand Strand than at any
time in the past 10 years, according to the Multiple Listing
Service.
The increased supply was caused in part by a slowdown in
the frenzied condo market, leaving condos on the market longer, Realtors and
analysts say.
A clampdown by the Coastal Carolinas Association of
Realtors two months ago on agents who weren't entering listings also played a
role. Officials say that problem has been resolved, increasing the number of
properties on the service.
"A clampdown by the Coastal Carolinas Association of Realtors two months ago on agents who weren't entering listings also played a role." NO KIDDING!
Real estate investors are a breed apart. I know quite a few of them now. With preconstruction investing, it's not who you are or how much money you have, but who you know. The ones who do this do it for a living. They talk amongst themselves. They have made close friends with the largest developers. I would say that often over half of the best units in a preconstruction project are sold over the phone and on paper for 3 months before the project is even made public.
So now lets estimate that there are actually only 1500 of these units that will actually be offered to Joe Blow who casually looks in the MLS to see what's for sale this week.
But wait...maybe not. The internet is the hottest commodity to real estate sales that exists right now. I haven't seen the numbers lately, but MY OWN OPINION would be that a good 70% of all homes and investment properties are sold right now at least in part from internet exposure. I would even say in this area it could be as high as 80%. I deal with most of the most important real estate websites in the area, and I've seen several small Myrtle Beach condo rental companies become multi-million dollar real estate sales machines because of their website.
The many smaller investors out there have not formed a relationship with a developer...they don't even know the developers in a particular area. But what they have done is to get on the mailing list of this same top preconstruction marketing company (New Resorts) and every time a project is released, emails are shot out immediately announcing it, and notifying this group of its upcoming availability. I would estimate that another 50 units per project are reserved and no longer available from this method...again in only a day or two after release or sometimes BEFORE release. So there goes another 500 units. We're down to 1000. We've got 10 projects, so that's 100 units per project left, and maybe 6 kinds of rooms mixed in that. So let's estimate 17 units of each type per resort that are actually ON the market as it's being actively released.
Our local Board of Realtors just raised a stink and are demanding that preconstruction developers or marketers list all the units, INDIVIDUALLY in the MLS listings, every time they have a new project. That means listing the amenities, square footage, all the details on 3000 units at any given time. That also means maintaining them...removing the ones that are sold out of those individual listings. If they are sold prior to release, then they need to be listed and then marked sold and removed. It represents hours and hours of computer work, and a virtual paperwork nightmare. They are actually FINING the sales companies everytime they don't list a project. Some are reacting by withdrawing their membership to the local board...and I can't blame them a bit. It's a ridiculous situation...all so they can write articles about "bubbles" and spout statistics about prices escalating and foreclosures being emminent. Enter John Stossell on 20/20 or 60 Minutes or whatever show he's on, who tells all the masses that REAL ESTATE AGENTS are driving up costs of homes now. Utter crap.
Check a Myrtle Beach MLS listing for a condo right now and all you see are pages and pages of duplicate entries. The BOR is telling the world there are 3000 new condos for sale right now in Myrtle Beach. There's probably not 1/3 of that available. Joe Blow gets tired of trying to search for a condo by digging through 5 pages of the same thing. He may miss out on a nice investment condo. Nothing is accomplished, and nobody is helped except the BOR, and they may publish inflammatory statistics and dire warnings of impending markets crashing.
Yes, Virginia, there IS a bubble...and it's an AIR BUBBLE in the minds of the ones who set the rules and publish this kind of stuff.
Meanwhile, the investors are doing just fine, the developers are doing just fine, the public is getting scared to take advantage of the opportunity to make really good profits, and the agents are left to deal with the problem.
And to back up my rant, the Board of Realtors in Miami, which is 25 times the size of our Myrtle Beach market, has FORBIDDEN agents from listing preconstruction projects. Why? Because of exactly what I've talked about here.
Again, this is just my under-educated opinion. Take it for what it's worth. I can say this with pretty good authority. Articles like this one in the newspaper and on tv are half the problem. They can create a "bubble" almost by themselves just from insisting or even insinuating that there is one.
Though sales of older condos and houses have slowed in Myrtle Beach, preconstruction and new resorts are as strong as ever, and internet marketing is part of the equation...a big part. I truly believe that Myrtle Beach has the best investment real estate in the nation right now.Labels: myrtle beach condos, myrtle beach real estate |
posted by Myrtle Beach Web Design @ 2:02 PM
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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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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, 
