Wednesday, September 13, 2006

Developer announces plans for Bay Tree land




JENNY BURNS
The Sun News
Real Estate


Centex Homes released plans Tuesday to build an urban village with 900 homes - including a town center, 6-acre park and outdoor ampitheater - in place of Bay Tree Golf Plantation's three golf courses.

The Grand Strand's largest builder will break ground in January on the development, called RiverGrand.

The 529-acre property will include a 275-unit retirement center and shopping center, developers said at a news conference announcing the plans.

Residents living around Bay Tree fought the rezoning at County Council a year ago because many would lose their golf course views, but the plan was approved in July 2005.

Centex has designed the development as a walkable neighborhood, or traditional neighborhood development - a trend in building that gives residents a place to live, work and play.

Small retail outlets such as specialty shops and eateries will line the first floor of the town center at RiverGrand. Condos will fill the top floors, with 500 multifamily units and 900 single-family homes surrounding the center.

"We are going to build something that is totally new for the Little River area," said Ken Balogh, Myrtle Beach division president for Centex Homes. "In fact, there is nothing else like it in this part of Horry County."

Balogh said surveys of homeowners show they prefer the walkable neighborhood.
Development of the former Myrtle Beach Air Force Base is also being built as an urban village, but on a larger scale. The Market Common, and its surrounding neighborhood, Withers Preserve, break ground this fall.

Planners say these mixed-use neighborhoods are a better way to build because they help reduce sprawl and promote walking and exercise.

Horry County planners are creating a new zoning category for traditional neighborhood developments.

Right now, such developments can be built only under planned-unit development zoning.
Brad Dean, president of the Myrtle Beach Area Chamber of Commerce, said these kinds of neighborhoods attract many who are looking to live on the Strand.

The ampitheater, he added, may be the first of its kind on the Strand, and will also attract residents and tourists.

The community will have a 3-acre residents' center with three resort-style swimming pools. The two main entrances to RiverGrand from U.S. 17 and S.C. 9 will have stoplights.

The project will take eight years to build, with sales starting in March. Prices will start in the high $100,000s to the $500,000s.

Council members say they OK'd the rezoning so they could have some control over what is built and win concessions from developers, including a reduction of 200 units and a $1,000 fee for each home built. That adds up to about $2 million in stormwater improvements.

"The people that opposed it in the end will realize this will be the best way to go. There was no doubt the golf course was going to be sold," said County Councilman Paul Prince.

Contact JENNY BURNS at 626-0305
or jeburns@thesunnews.com.

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Tuesday, September 12, 2006

The housing boom is over, but creative investors still make profits




By Robyn A. Friedman
The Sun Sentinel
Special correspondent
Posted September 11 2006

Vicky Kaye is accustomed to making a double-digit annual return in the oceanfront real estate market. And unlike many other area real estate investors, she's still doing so.

"I do about two or three deals a year," said Kaye, a licensed massage therapist who lives in Pompano Beach.

Kaye is a private lender who provides short-term financing for other real estate investors. She's been investing that way for five years and making 12 to 14 percent interest on each deal, as well as the return of her principal in less than a year.

"It's collateralized, and there are no complications," she said of the transactions.

Over the past few years, South Florida's housing boom has spoiled real estate investors, many of whom unabashedly brag about the killing they made flipping preconstruction condominiums, rehabilitating foreclosed properties or buying apartment complexes to convert to condos. But now that the housing market has tanked -- the inventory of unsold homes skyrocketed and sales have screeched to a virtual halt -- investors are becoming creative, segueing into new types of deals and properties in an effort to wring out profits in a challenging market.

"The latter part of 2002 to the second quarter of 2004 was the period of time when everybody jumped on the bandwagon, and all those condo flips occurred," said Michael Y. Cannon, managing director of Integra Realty Resources South Florida in Miami. "That was when the market actually peaked."

Today, Cannon said that many people don't know where to put their money.

"They're starting to put their money back into savings accounts, CDs and treasury bills," he said. "Instead of a 2 percent return, they can now get 5.5 percent, and although that return is less than the promised return they'd get on real estate, they want safety."

Others say that moneymaking real estate opportunities still abound in South Florida.

"There are more opportunities now than there have been in years," said David Dweck, a real estate agent with Re/Max Professionals in Coral Springs and an active investor the past 14 years. "With the market shifting, sellers are becoming more realistic and motivated. A motivated seller can mean a buying opportunity for an investor."

Where are area investors putting their real estate dollars now?

Commercial properties. Cash flow is the name of the game. Since investors can't count on short-term appreciation and a quick sale, many are seeking an income stream.

Michael S. Weiner, a zoning attorney in Delray Beach, has been purchasing buildings since 1991. He owns several buildings on Atlantic Avenue in Delray Beach that have retail and office space. He targets properties with "intrinsic value" and always buys to hold long-term. Weiner only buys properties in Palm Beach County. He recently bought a medical office building and is considering a post office.

"Real estate's the most intensive investment you can possibly have," Weiner said. "You've got to watch it."

Foreclosures
Michael Perlmutter has been a full-time real estate investor for more than six years. He's referred to in the industry as a wholesaler -- someone who spots homes in foreclosure or preforeclosure and then resells them to one of the 3,000 investors in his database, typically at a profit of at least $15,000. The buyer then rehabs the property and resells it for an additional profit. Even with his well-oiled machine, Perlmutter has had to adapt his buying strategy.

"Eighty percent of the part-time weekend investors who dabbled in real estate have folded," he said. "Now, I've got to work harder." Still, Perlmutter said he gets five to seven calls a day from people in financial difficulty looking for someone to buy their houses. "There's never been a better time than right now because of the supply," he said.

Preconstruction condos (yes, preconstruction condos).
Gone are the campers, the speculators who lined up -- sometimes for days -- to snap up prime condo units at early prices. At least one local expert thinks a market still exists for some of these condos. Mark Zilbert, president of Zilbert Realty Group Inc. in Miami Beach, said that half the buyers who hold contracts on preconstruction condos -- most of them real estate speculators -- don't want to complete the purchases on their condos.

"They just want their deposit back to get out of it," he said. "So an opportunity lies for someone approaching a buyer who bought an apartment in 2003 or 2004 and offering them their contract price."

Zilbert said that the investor has to be prepared to settle on the unit and hold it for a year or so. After that, he says, they should be able to resell the condo at a profit. "They'll probably see a 50 to 60 percent return on their money, which is a far cry from the 200 to 300 percent we used to see," he said.

Invest in a vulture fund. Many people are putting aside money to plunge into the real estate market in an attempt to swoop up bargains when they think the market has hit bottom. One of these is Deerfield Beach real estate analyst Jack McCabe, who has formed McCabe Acquisitions LLC for such investments. McCabe said that accredited investors of high net worth, institutional investors and other entities can participate in his acquisition firm as nonmanaging members. A minimum investment of $5 million is required. He plans to acquire blocks of condos in multifamily developments -- or entire projects -- in many markets in the country, with a special emphasis on Florida. And he hopes to purchase these properties from anxious sellers at a discount. "My acquisition group will acquire at early 2004 prices from developers and builders, or debt value from lenders," he said. McCabe said he's prepared to hold these properties for up to 10 years.

Invest in your own property. Consider remodeling your own home but do it wisely. With the right remodeling project, you can increase your home's value. According to Remodeling magazine, the average price of a midrange bathroom remodel is $10,499. When you sell, however, you'll recoup 102.2 percent of the cost of that remodeling job. Kitchen and bath remodels, as well as siding replacements and home additions, yield the highest return on your investment. Add a sunroom, on the other hand, and you'll recoup just 74.5 percent of your cost.

Look into other regions. Although South Florida is experiencing a housing market slowdown, markets in other parts of Florida and the United States remain robust. Many investors are flocking to Orlando to purchase condos and vacation homes for investments. Some are investing in commercial properties in Ocala and Jacksonville. While other areas may offer opportunities not currently available here, experts warn investors to be careful.

"If you're a small investor, you should never invest in anything that you can't visit in one day," said Integra's Cannon. "Stick to the neighborhood that you know or else invest in a REIT (real estate investment trust) or mutual fund that invests in real estate. Use common sense."

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Tuesday, September 05, 2006

Slowdown in Real Estate and Condo Sales Spurs Internet Marketing




While the present real estate climate helps buyers with incentives, and sellers are willing to lower prices, desperate real estate agents look for magic bullet from the net.
(PRWEB) September 5, 2006 -- Just a year ago, real estate and resort condos for sale were the hottest thing going. If you advertised one with a price even near appraised value, or offered a preconstruction condo loaded with amenities, investors couldn't buy it fast enough. Realtors were happily making huge commissions, and the investors happily anticipated huge profits from "flipping".

Prices increased in the resort areas like Florida and Las Vegas, while huge high-rise developments took over and carpeted the landscape with bulldozers and construction workers.

Then hurricanes came, the war progressed, interest rates and gas prices went up, and the so-called real estate "bubble" became a reality.In the summer of 2006, developers have more condos than they have buyers, prices on homes and condos are coming down, and realtors are suddenly hurting for sales.

One thing is obvious - the internet is the lifeline. But those fancy websites known as "flash sites" are dangling in cyberspace, and the money required to advertise with the search engines is hard to come by.

Real estate web designers that are skilled in search engine optimization are the answer, but they are a rare breed. Most web designers go for the most high-tech look, and have no idea what the search engines require to rank a site in the natural search results.

There are so many developments now that ranking for all may be impossible.And there are a few areas where real estate didn't top out last year. Prices remain affordable, and the hometown agents are now gearing up for their share of the pot.

"These developers and real estate marketing firms are looking for the fruit of their investments in internet advertising." says Bryan Pearl of Pearl Web Marketing.

Myrtle Beach Web Design, a real estate search engine optimization company owned by Jan Chilton, has teamed up with Pearl Web Marketing to offer the solution.

Websites specialized for realtors and property developers can be attractive to buyers and search engines alike. Between the two companies, Pearl and Chilton have a large number of clients who benefit from referrals, can provide press release services and advertising blogs, and have several real estate directories to provide a complete internet marketing experience.

Pearl modestly tells his prospective customers,
"Out of twenty-seven million results on the internet our website, CondosAndResorts.com, is in the top ten search engine results for the term 'condos for sale.'"

Chilton maintains several condo websites that are near the top for most Myrtle Beach search terms.

Angela Privett Treadway, Co-owner of Privett and Associates Realty in Sevierville, Tennessee has been with Pearl Web Marketing for three years.

"Internet advertising is a significant part of our marketing and it drives hundreds of leads per month to our office," Treadway explains. "The internet is certainly the best and most cost effective way to generate sales, providing you get with the right company."

Pearl Web Marketing and Myrtle Beach Web Design currently service realtors in South Carolina, Alabama, Tennessee, Hawaii, Kentucky, Arizona, California, and Florida. For ethical reasons, they will seldom work with more than one agent per city.

Although their primary focus is in real estate, they have together designed a mortgage company site, a condo insurance site, a lake front property site, and have customers in interior design, engineering services, construction, and resort rentals.

Pearl does website design primarily with developers and realtors for search engine placement especially geared towards selling the dream of owning vacation homes and condos. Myrtle Beach Web Design has been helping realtors and Myrtle Beach condo rental companies with search engine placement since 2003.

The merger of these two talents has been a perfect match, even though they are several states apart. Learning what each search engine expects, enticing prospective home buyers, and keeping up with the constant algorithim changes is what, together, they do best. Pearl and Chilton share their knowledge and confer daily to keep each other informed. Chilton is presently working on a Real Estate marketing tutorial site to help with Google placement, called EchoForum.com.

There are many other tools to use in driving traffic to websites. Online ads in the right places, trading links with other quality websites, and creating press releases which span the globe are just a few. All of these factor into your placement in the search engines. There are many things which can be done to generate traffic. It isn't rocket science, but requires time and constant monitoring of the trends.

For this reason, most realtors would prefer to have a professional handle this important aspect of their business.

If you would like more information, contact Bryan Pearl at (256)550-1333 or through his website, Pearl Web Marketing.

Jan Chilton can be reached by phone at (843)602-0000 or through her website, Myrtle Beach Web Design.


Pearl Web Marketing265
Irby CircleUnion Grove, AL 35175
www.pearlwebmarketing.com

Myrtle Beach Web Design
2423 Hwy 17 SouthNorth Myrtle Beach, SC 29582
www.myrtlebeachwebdesign.com
###

Press Contact: Janet Chilton-Bryan Pearl
Company Name: MYRTLE BEACH WEB DESIGN-PEARL WEB MARKETING
More Information: http://www.prweb.com/releases/2006/9/prweb432220.htm

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Capitol Hill Blue - Has Bush gone over the edge?




Totally off-topic and stictly the webmaster's opinion. I feel this is an important bit of news...


Capitol Hill Blue - Has Bush gone over the edge?

Has Bush gone over the edge
September 5, 2006 06:06 AM

An increasing number of Republicans, ranging from former conservative Congressman Joe Scarborough to former President George H.W. Bush, worry that President George W. Bush's tenuous hold on reality is slipping away and the leader of the free world may be sliding into a full-fledged mental breakdown.

Scarborough sounded the warning recently when he devoted an episode of his MSNBC talk show to the topic "Is Bush an Idiot?" Other published reports say Bush's own father is worried about his son's mental state. Psychiatrists who have observed Bush during his presidency share this concern.
Writes Jeffrey Steinberg in Executive Intelligence Review:

The word is circulating in high-level Republican Party circles that former President George H.W. Bush is profoundly worried about the mental state of his son, the current President. According to the sources, Bush has been communicating with his own intimate circle, including former National Security Advisor Brent Scowcroft, and former Secretary of State James Baker III, along with former President Bill Clinton, about G.W.'s over-the-top support for Israel's current self-destructive assault on Lebanon.

The ex-President has reportedly conveyed to his close associates that he fears that G.W. is in a messianic state and is "unreachable," even by such close advisors as Secretary of State Condoleezza Rice. Insight magazine, the online publication of the Washington Times, buttressed this account, reporting in early August that, for the first time, a rift has developed between Rice and President Bush, over the President's one-sided support for Israel, in the ongoing Israeli Defense Forces invasion of Lebanon.

Bush family insiders say the former President's concern over his son's mental state was a primary reason why the President made a rare appearance at the family home in Connecticut during August. Bush rarely visits his father. In fact, NBC news anchor Brian Williams recently reported that former President Bill Clinton, who defeated the elder Bush after one term, visits his former rival more often.

White House aides point to the President's increasingly bizarre behavior: an inpromptu "massage" of a foreign leader at the recent G8 conference, his penchant for farting in front of new West Wing aides and his rambling, often incoherent answers to reporters' questions.

John Dean, the White House counsel who helped bring down another deranged President: Richard M. Nixon, shares the concern.

In his book, Conservatives Without Conscience, Dean calls Republican-controlled Washington a bullying, manipulative, prejudiced leadership edging the nation toward a dark era.

"We have returned to the imperial presidency (that existed in the Nixon era)," Dean says. "We have an unchecked presidency."

"Are we on the road to fascism?" he adds. "Clearly, we are not on that road yet. But it would not take much more misguided authoritarian leadership, or thoughtless following of such leaders, to find ourselves there.

"I am not sure which is more frightening," he adds, "another major terror attack or the response of authoritarian conservatives to that attack."

Dr. Justin Frank, the prominent George Washington University psychiatrist who wrote Bush on the Couch: Inside the Mind of the President, says Bush has lost touch with reality:

With every passing week, President Bush marches deeper and deeper into a world of his own making. Central to Bush's world is an iron will which demands that external reality be changed to conform to his personal view of how things are.

As far as Bush is concerned, he is telling the truth; as Madeleine Albright recently said to Columbia Magazine: "the most serious problem is that George Bush now believes what he says." Like many of my hospitalized patients, Bush has created a vast, detailed but vague delusional system he feels compelled to maintain at all costs. This system helps him manage the terrifying anxiety that threatens to make his already endangered inner world more chaotic.

Psychoanalytic theory suggests that Bush's true enemy is an aspect of himself -- the overwhelming anxiety he works so hard to manage. For Bush, lying remains a central defense mechanism in managing his fears; he lies foremost to himself, altering his perception of external or internal reality to fulfill his psychic need to maintain order. His anxiety is so great that he cannot shift his thinking to account for new information --especially the fact that patriotic families of patriotic soldiers demand that he speak with them.

Taking responsibility has always been hard for George W. Bush. And taking responsibility for inflicting harm on others, a major step in the development of maturity, is a step President Bush has yet to make. Instead, he persists in lying to himself, surrounding himself with people who agree with him. And now he is not safe even inside his own closed circle.

Dr. Frank has studied Bush's actions and personality extensively and believes the President needs extensive analysis and help.

"It is not too late for President Bush to have the second half of his medical check-up: psychological testing," Dr. Frank says. "After his recent press conference in which he kept talking about finishing the job while attacking Democrats for wanting an exit strategy, Bush showed even more telltale signs of a particular kind of mental disturbance which medical professionals call thought disorder."
Writing in The Huffington Post, Dr. Frank continues:

I had always felt that his inability to respond to crisis, as seen in his response to 9/11 and Katrina and Israel's bombing of Lebanon, was because he suffered from something called affective flooding, where overwhelming anxiety paralyzes any ability to think or even function. Such a response is similar to denial.

Those who observe the president at such moments - thanks to smuggled film clips and his historic April 2004 press conference when he was asked if he had made any mistakes as president - see that he starts rapid blinking movements before his eyes glaze over and become almost fixed in a blank, mindless stare. This massive disconnection from inner self and outer world is called "splitting."

But a recent press conference (August 21, 2006) showed that when he is in control he is not flooded in this way. Rather, his splitting takes the form of hatred of reality. I use the term hatred purposefully. When he was pushed by a few increasingly frustrated reporters, he behaves like the untreated alcoholic he is - summarily dismissing material reality.

When offered a chance to re-think the Iraq war he becomes obstreperous, using sarcasm to both mask and express his internal rage at being challenged. When back in control he patronizes members of what he calls the "Democrat" party, saying that they are "good people" and that he doesn't question their patriotism. In control he is a poor man's Cicero, saying what he's not going to say anyway. Reading between the lines, he calls his critics quitters.

All of this behavior is in the service of defending himself against reality - something he actively hates. At times, his attempts to ward off reality make him appear stupid. He is not. Rather, internal and external realities are too threatening for him to face. When asked whether he had been surprised or frustrated by all the bad news from Baghdad he didn't even understand the question. This is because the very act of facing such questions threatens to destroy his tenaciously held preconceptions. This he cannot risk; he employs various coping mechanisms to attack such questions in any way he can. Instead of acknowledging personal frustration he said that the war must be frustrating for the national psyche. But his hatred of reality required a more violent approach - the day after his conference he sent more of those poor marines back into a world of horror.

His ability to dismiss reality is profound - more than the simple method used by his mother Barbara, who said she wasn't going to watch the TV news during the war because watching body bags would spoil her "beautiful mind". No, he has a rugged inner strength - unless confronted by surprise - that enables him to dismiss and destroy personal perception.

His mental pulse needs to be taken, not just his physical one. I think that what prevents his doctors from doing so is their fear of what they'd find. Without such an examination, we are left with no medical terms to describe his mental functioning, his private global war on terror which extends to attacks on his own capacity to perceive reality. I have not examined the President, so it is not proper for me to offer a diagnosis. However, my observations lead me to believe that he is psychotic.

Copyright © 2006 Capitol Hill Blue. All rights reserved

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