Tuesday, April 27, 2010

Myrtle Beach Hopes Golfers and Families Pour In During May

CondoLux recently reported on a press release that Myrtle Beach golf packages were up this summer over 40% from early 2009.

The golf director, Craig Chinn, attributed the increases to additional direct flights in and out of the Grand Strand, and to more Myrtle Beach condo rental companies and hotels oiffering golf packages as incentives to vacationers. Check out their latest press release titled, Myrtle Beach Golf Company Reports Another Record Year.

The city of Myrtle Beach is spending big advertising bucks this year. attempting to promote tourism to make up for a still slow economy and the loss of Harley Biker week during May. The new motorcycle laws implemented by the city are still causing constant sniping and critique by commenters in the local online newspaper articles and news agencies. With the new Myrtle Beach Boardwalk now open and marketing for families increased, it should be interesting to see just how much is lost by the biker restrictions overwhelmingly supported by local residents.

North Myrtle Beach is still welcoming the black bikers during Memorial Day, and along with Surfside Beach, they are soliciting the Harley bikers to overlook the controversy and stay in those locations without restrictions. Right or wrong, Myrtle Beach wants to give the month of May back to families and couples, and change the area's reputation from the oft-quoted "redneck Riviera" to a more Boca-Raton-ish upscale image. With all the much higher priced resorts that require a higher vacation rental income, this is probably a wise course of action.

May is one of the months with the most gorgeous weather of the entire year, and especially suited for golfers and young children who don't particularly care for the extreme heat and sun of full summer. It would be a good thing to see a change in the type of tourism in the Grand Strand for this important month of the year. Good luck to all concerned during the upcoming Cinco De Mayo!

Monday, April 19, 2010

Myrtle Beach Condos - Good News and Bad

The Sun News spoke with the President of our local Board of Realtors recently, and reported his remarks about our real estate market, and in particular, Myrtle Beach foreclosures.

Tom Maeser says there was a 72 percent in sales of condos in Myrtle Beach, but they are almost exclusively foreclosures and short-sales. (actually 25% according to Tom - I think it's probably more like 75%!)

I don't think that comes as a surprise to anyone, and I don't see the point in his gloom...as he goes on to say that without those sales, regular condo sales are down lower than in 2009. Well, of course with all the foreclosures THEY are going to be the ones people buy. That's the same all over the US. My friend in Las Vegas, Diann Tonnesen, told me that her sales were booming too...and just about all foreclosures.

We've got to get through the foreclosures in order for the regular sales to begin again. So this is GREAT news! The faster they sell and get out of the way, the faster our prices will increase again and the market will return to normal.

This is also pretty amazing when you take into consideration that it's nearly impossible to finance an oceanfront condo in Myrtle Beach right now! That means there are enough buyers with CASH that it still makes a 72 percent increase in sales. Wow!

Rentals are booming with both CondoLux and Condo World for the summer. Other area businesses are doing well, also. My friend that does tree services in Myrtle Beach, Duncan McInnis, is being kept hopping. My Myrtle Beach car insurance agent, Scott Todd, is pleased with business and had a friend of his with Allstate in Conway talk to me about a website. Most all of the restaurants are doing better, and lines are actually forming already at the popular ones like TBonz and Olive Garden.

This week begins another SOS get-together, and soon the dreaded Memorial Day Bike Week will be happening (or not) They keep threatening to boycott...and we keep hoping they do...:-) Another summer in Myrtle Beach begins!