Myrtle Beach Information

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For Immediate Release

For More Information,
Contact Todd Woodard
843.357.4400 or twoodard@sitetechsystems.com

SITETECH SYSTEMS CONTINUES TO REVOLUTIONIZE HOW REAL ESTATE IS RESEARCHED

SiteTech launches new foreclosure tool for Horry and Georgetown Counties.

March 13, 2007, Garden City, S.C. - SiteTech Systems has integrated a new foreclosure tool into its existing OneSource online application. SiteTech OneSource is available by subscription to anyone needing to evaluate property in Horry and Georgetown Counties. Subscribers can view area comparable sales and on-market properties, track foreclosures from the time they are filed until sold, and print reports.

Foreclosures are occurring at historic levels creating the opportunity for investors and real estate professionals to make smart investments. Our new foreclosure tool provides the most comprehensive information available. Until now, it often required hours of legwork to analyze foreclosure property and still sometimes yielding incomplete information. With SiteTechs new foreclosure tool, you can research property faster, easier and more effectively than ever before, says SiteTech Systems President, Jim Parker. Before April 1, 2007, subscribers can receive a 10 percent discount on the new Foreclosure Tool.

Founded five years ago by real estate entrepreneurs Jim Parker and John Jobson, SiteTech Systems is dedicated to simplifying the process of gathering, consolidating and analyzing real estate information. The proprietary web-based OneSource product is the most comprehensive tool for real estate professionals in Horry, Georgetown, and Brunswick counties. For more information, visit www.SiteTechSystems.com

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Georgetown Information
Red Cross trains volunteers in disaster aid The Red Cross is offering a free training class from 9 a.m. to 4 p.m. Thursday at the Georgetown Service Center of the Coastal S.C. Chapter of the American Red Cross. The class will prepare volunteers to explain the program and provide emergency disaster assistance to clients. Longtime disaster volunteer Barbara Nuding will lead the class. Please register in advance at 546-5422 or 477-0020.

Pawleys Island Information
Meeting set on coastal oil drilling A discussion about gas and oil drilling off the S.C. coast will be held at 6 p.m. Monday. The meeting, which will be held at the Pawleys Island library, will feature Randy Maatta, candidate for state congressman in the 1st District. For information, call Bernadine Bader at 237-8677.

Murrells Inlet Information
Mall honors military vets on Memorial Day All veterans and their families are invited to Inlet Square Mall on May 29, Memorial Day, to honor veterans' service and sacrifice. The celebration will include a formal ceremony and an informal gathering for the honorees. From 11 a.m. to 3 p.m., tables will be provided for anyone who wants to share stories, photographs or other memorabilia with mall shoppers and employees. In addition, a recognition ceremony will take place at noon in the mall's Center Court. The Local Heroes Celebration is free. Call Inlet Square at 651-6990 to reserve a table. Inlet Square is located on U.S. 17 Bypass South at U.S. 17 Business in Murrells Inlet.

InterCoastal Net Designs presents their Real Estate Web Site Hosting Cam!

Real Estate Web Site Hosting -
It's a great day at the beach!

It's a great day at the beach here at InterCoastal Net Designs' main offices!
From our beautiful location by the sea in Ocean Isle Beach, NC, we are offering Real Estate Web Site Hosting for the world.

Check out the view on our beaches while you dream of Real Estate by the Ocean. Don't worry though, we always make sure we leave a few people indoors watching the servers when we are on the beach!

 

What Is a Vacation Rental?

Many consumers ask: "What is a vacation rental?" The general definition of a vacation rental is a home, townhome, or condo, owned by a private individual, that is available for rent. The primary benefits of staying in a vacation home versus staying in a hotel are:

• More Space
  Instead of small-spaced, two-bed rooms, vacation rentals allow the entire family to stay under the same roof. This kind of accommodation is well-suited for extended stays.
• More Amenities
  These properties offer more amenities than hotels, such as fully-equipped kitchens, fireplaces, and private hot tubs and pools.
• Great Locations
  Vacation rentals are often, literally, directly on the beach or on the slopes providing ski in/out access… try that from your hotel room!
• Privacy
  Free from the people and environment that comes with noisy hotels, privacy is one of the biggest benefits of vacation rentals.

A Few of our clients offer Myrtle Beach Vacation Rentals. These clients specialize in: Myrtle Beach Vacation Rentals, Myrtle Beach Real Estate, Myrtle Beach Attractions , Lowcountry Vacations

Senate to debate new plan for tax relief

Senate to debate new plan for tax relief

'The property tax problem is largely not a statewide problem.' Sen. Chip Campsen | R-Isle of Palms# HTMLInfoBox~~School taxes School operating taxes on owner-occupied homes, business personal property and other personal property:

Horry County | $29.8 million; sales tax to replace: 0.42 cent Georgetown | $9 million; 1.09 cents Marion County | $590,425; 0.24 cent Williamsburg County | $812,750; 0.33 cent

COLUMBIA - An increase of less than half a penny in sales taxes would ease property taxes on homes in Horry County under a plan the Senate began reviewing Wednesday night.

A little over a penny would do the same for Georgetown County.

Debate, and probably a vote, is expected on the proposal today.

It is a substitute for the plan passed by the House that imposes an additional 2 cents of sales tax statewide and uses the 7 cents of sales tax to replace property taxes for operations of schools, cities and counties.

The proposal is a local option, meaning voters in each county would be asked to approve it before it would go into effect. The plan is similar to the existing local-option sales tax to pay for some county taxes.

Both Horry and Georgetown counties have rejected the local-option sales tax in the past.

But supporters think voters will bite this time.

"It preserves home rule, and it's a home run for Horry and Georgetown and Charleston counties," said Sen. Ray Cleary, R-Murrells Inlet.

Sen. Dick Elliott, D-North Myrtle Beach, said he was not so sure.

"They just don't like sales tax in Horry County," Elliott said.

The sponsors removed a provision in the original version that allowed voters to use the sales tax to lift school debt as well as operating funds.

A penny of sales tax would have more than covered all the school taxes in Horry County under the earlier version.

Cleary said the real estate industry persuaded sponsors to remove that provision. The real estate brokers feared it would cause a spike in house prices.

But Cleary said that ignored the larger picture. Home buyers in places such as Horry County would benefit from long-term lower taxes even if they had a slightly higher purchase price, he said.

The plan came late in the day after the Senate defeated other proposals, including the House plan.

Sen. Jake Knotts, R-West Columbia, pushed for approval of the House plan after other proposals failed to get a majority. Although senators don't usually like House proposals, "even a blind pig can find an acorn sometimes," Knotts said.

Many members said they did not like the House plan because it takes local money and redistributes it to the local governments. They also did not like the redistribution formulas in which some school districts would get more than others.

Those concerns were one reason Sen. Chip Campsen, R-Isle of Palms, came up with the local-option proposal, he said.

"I would rather have a statewide solution," Campsen said. But it appears the Senate can't agree on one.

One reason for the lack of agreement is that "the property tax problem is largely not a statewide problem," he said.

It is more prevalent in fast-growing areas such as coastal Horry and Georgetown counties, where property values have surged.

The school funding problem is another that the Senate could not seem to solve, Campsen said. So "instead of going home with nothing," the local option plan offers a way for local property tax relief, decided by each county, he said.

 

 

Regulatory takings bill a potential disaster for our state

BY HUGH LANE JR. The Post and Courier Charleston.net

MONDAY, MARCH 13, 2006 12:00 AM

The South Carolina House is currently debating a bill that could do irreparable harm to our communities, our economy and our environment. Sponsored by Rep. Tracy Edge from Myrtle Beach and promoted by the South Carolina Association of Realtors, the so-called "just compensation for land use" legislation should be renamed the "bail out program for land speculators." If it passes, the costs to the state and local governments could be staggering and would quickly strangle planning and environmental protection efforts statewide.

Rep. Edge has attached his compensation legislation to a bill that addresses legitimate concerns about the manner in which government agencies exercise eminent domain. It is noteworthy that the proponents of the compensation measure have refused to separate the two issues so that each can be debated on its own merits. I am certain they realize that if the public has an opportunity to learn about the compensation measure, they will reject it as yet another power grab by developers and speculators.

Fortunately, the South Carolina Legislature has consistently rejected regulatory compensation bills almost every year for the past decade. A rigorous fiscal impact study of a compensation proposal in 1998 concluded that the bill would burden taxpayers with more than $100 million in expenses the first year it passed, with the added insult that more than three-fourths of the costs would go to lawyers and administrators rather than to landowners. We were very grateful that the Legislature chose not to pass that particular compensation bill.

Defending his bill in The State newspaper, Rep. Edge says, "... there will certainly be new regulations on the horizon. The House bill would permit those in only the most extreme circumstances, but government regulation never comes without a price tag. Someone has to pay that price. If government decides to impose regulations that devalue property, then it is government that should bear that cost ..."

This is either a remarkably naïve misunderstanding of property, or Rep. Edge holds a view not shared by 99 percent of the American public. Most Americans purchase houses in neighborhoods where uses are substantially restricted, where your next door neighbor does not have the right to build mini-warehouses in his front yard and you do not have the right to erect a billboard in yours.

You are denied these rights even though you and your neighbor would both make substantial profits on mini-storage and a billboard. In this case, Rep. Edge's legislation would require the town or city imposing these restrictions to compensate everyone in the neighborhood in order to remove the rights to build mini-storage and billboards.

In his column, Rep. Edge praises the recent legislation that curbs local governments' power to regulate billboards. He considers that legislation, which Gov. Sanford vetoed only to be overridden by the General Assembly, a model for land regulation of all sorts. He believes that any time a town, city or the state - acting on behalf of the greater good - would like to control a particular use, they should have to pay every property owner who is affected.

Only one state in the nation, Oregon, has passed a sweeping law like the one the House is now considering. Their experience should be a warning to South Carolina. An article in Portland's daily newspaper states, "Three months into Measure 37 (Oregon's compensation bill), people on both sides of the new property rights law agree on one thing: Oregon is a state in chaos." Real estate activity has been dampened because of the lack of certainty surrounding the uses of property.

As a businessman, I can tell you that commercial certainty is one of the most important elements of a thriving economy. The last thing South Carolina needs to do is adopt a radical new program that turns conventional planning and zoning upside-down and throws into question the legal status of property around the state.

Property rights are also essential to a thriving economy. Acknowledging this fact, Sen. Glenn McConnell sponsored property rights legislation in 2003, Senate Bill 204 (Act 39), which was enacted on June 2, 2003. Act 39 provides a more expedient and cost-effective way for landowners to challenge unfair regulations. This was a reform that all landowners and taxpayers can applaud.

Rep. Edge and his allies should divide the issues of eminent domain from regulation compensation. Only if that happens can the public be assured of careful consideration of an extremely important and potentially disastrous legislative action.

Hugh Lane Jr. is president of the Bank of South Carolina and a former president of the South Carolina Chamber of Commerce.

Current Myrtle Beach Real Estate Market Analysis

Reported by Ben Turner, REALTOR

MONDAY, MARCH 13, 2006 12:00 AM

As of March 13, 2006. The current market is in transition now and is shifting towards a buyer's market from the very strong seller's market we experienced in 2004 and 2005. The seller's market along the Grand Strand has now become more neutral, as homes are remaining on the market for longer periods of time. During the first quarter of 2006, there has been an increase in inventory for the first time in over 2 years. With the increase in inventory the market has converted over into a buyer's market. Prices continue to rise but not as rapidly as before.

Todays buyer should be aware of the current market and not get sucked into buying a property that is priced at last years prices. That is why you should employ me as your real estate consultant. I have spent the last 20 years involved in the residentual home building industry and currently hold contractor's licenses in both South and North Carolina. I know what the land values are and the cost per square foot to construct the home on that land. It's your money, why leave any of it on the table or in someone else's pocket.

ZIP Code: 29577

Location Characteristics: The Grand Strand, with its miles of beautiful sun-kissed beaches and more than 100 world-class golf courses, offers a very coveted lifestyle. We are situated along coastal South and North Carolina just about midway between Charleston, SC and Wilmington, NC and flanked on the east by the Atlantic Ocean and the west by the Intracoastal Waterway. Just to the north and across the border are the neighboring North Carolina coastal communities of Ocean Isle Beach, Sunset Beach, and Calabash. With its natural beauty and abundant recreational opportunities, this is known as the Grand Strand.

The heart of Myrtle Beach is situated approximately 15 miles south of downtown North Myrtle Beach. Home of the Alabama Theatre, Carolina Opry, House of Blues, Hard Rock Cafe, Nascar Cafe, Broadway at the Beach, Barefoot Landing, and many other attractions. Myrtle Beach is the heartbeat of the Grand Strand. The travel channel named Myrtle Beach one of America's Best Beaches for 2003 - 2004.

Cherry Grove's scenic salt marshes are home to colorfull and fascinating wildlife. Many of our vacation homes are situated along channels that connect to the ocean and the meandering creeks of the inlet's salt marsh. Relax on the deck of your channel home and watch the pelicans and egrets dive for food. Even better, grab your crab line and net and catch your own fresh seafood dinner. There's even a local fishing pier where you can try your luck.

Bernanke issues warning to small lenders

REAL ESTATE - The Post and Courier

BY JOHN MCDERMOTT

 

South Carolina native and Federal Reserve Chairman Ben Bernanke turned up in Las Vegas last week, not to put the nation's treasury at risk but to sound an early warning about commercial real estate lending practices at smaller banks.

And what Bernanke said in Vegas almost certainly won't stay in Vegas.

While most so-called community banks are in good shape financially, they also are likely to face greater oversight from regulators, the nation's top monetary policy official told his captive audience.

"In recent years community banks have become more focused on commercial real estate lending, leading to a significant shift in the balance sheet and risk profiles of a growing numbers of banks," Bernanke said, according to transcript of his speech to the Independent Community Bankers of America.

Dillon High School's most famous graduate stressed that most of these loans so far "have performed well."

"Our examiners tell us that lending standards are generally sound and are not comparable to the standards that contributed to broad problems in the banking industry two decades ago," Bernanke said. "In particular, real estate appraisal practices have improved."

But the rapid growth in transaction volume at small lenders bears close watching, he said, mainly because recently "there have been signs of some easing of underwriting standards."

"The rapid growth in commercial real estate exposures relative to capital and assets raises the possibility that risk-management practices in community banks may not have kept pace with growing concentrations and may be due for upgrades in oversight, policies, information systems and stress testing," Bernanke said.

In response, bank regulators are proposing "guidance" that would focus attention on loans that are "particularly vulnerable to adverse market conditions," namely ones that rely primarily on the sale, lease or refinancing of commercial property as the source of repayment.

"I emphasize that ... supervisors are not aiming to discourage banks from making sound loans in commercial real estate or in any other loan category," Bernanke said. Rather, lenders need to recognize the risks of having a large concentration of real estate loans on their books and to have the proper safeguards in place, such as adequate capital reserves.

Inn coming

The owner of the Carroll Building cleared the first hurdle in his proposal to turn the downtown office building into a 50-room inn.

With little discussion, a city zoning board last week unanimously approved the special exception that Karl H. Kuester needed for the conversion. Lee Batchelder, Charleston's zoning administrator, recommended approval, and no one spoke in opposition to the new use.

Despite its high-profile corner location at East Bay and Market streets, the 51,000-square-foot property has suffered from a chronic case of high vacancies ever since anchor tenant LS3P Associates Ltd. relocated to the newly built Victoria Center a few years ago, Batchelder said. Part of the problem is that the East Bay-Market area is now viewed as more of a tourist destination than a business address. The Carroll Building's main drawback as an office locale is its limited on-site parking, Batchelder said.

"While that might not have been much of a problem when it was built, it is a problem today," he said.

Any vehicle overflow for the proposed inn would be handled though a valet service with access to 34 off-site parking spaces. The lodging would include a lounge and 3,250-square-foot fitness center, according to plans filed with the city. The Noisy Oyster restaurant, which occupies the ground floor corner space, would stay.

Mixed uses

A bank economist who tracks business activity in the Southeast will take a crack at the question that seems to be on every homebuyer's mind: "The Nation's Housing Market: Will the 'Bubble' Burst?" Mark Vitner, senior economist with Wachovia Corp., will make his case on March 21 at the Sheraton North Charleston. The breakfast forum is sponsored by the Charleston Metro Chamber of Commerce's Developers Council. The event gets under way at 7:30 a.m. The cost is $15 for chamber members, $20 for others. ... Hitt Contracting Inc.'s North Charleston office was awarded a nearly $6.6-million contract to build a new communications facility at Shaw Air Force Base near Sumter. The project includes a new air operations center and an administration building. Work is expected to be completed by August 2007. Hitt beat out five other bids solicited by the Naval Facilities Engineering Command's Southern Division in North Charleston.

Myrtle Beach: The Good Life

by Courtney Ronan -Realty Times.com

As our thoughts turn to Spring Break, warmer climates and R&R, Myrtle Beach becomes the stuff daydreams are made of: white, sandy beaches; golf, fishing and other recreational pastimes; shopping; unique architecture and a relaxed lifestyle. Greater Myrtle Beach, South Carolina, offers more than 60 miles of shoreline stretching from Holden Beach in North Carolina southward to Georgetown, South Carolina. The area was called Long Bay until the early 1900s, when vacationers took note of the region's natural beauty and began their yearly migration here. Myrtle trees are native to this area of the coastline; thus, the name Myrtle Beach was born.

But sandy beaches aren't the only draw to Myrtle Beach. The region is well-known for its spectacular golf courses. In fact, greater Myrtle Beach, dubbed "The Grand Strand," is noted as among the world's best golf destinations. Some 90 golf courses in the region were designed by such legendaries as Jack Nicklaus, Robert Trent Jones, Dan Maples and Ron Palmer. Myrtle Beach's Dunes Golf and Beach Club has hosted the PGA Senior Tour Championship each year since 1994. Golf courses continue to be constructed in Myrtle Beach; approximately 10 more are currently in the works.

Myrtle Beach has been called "The Branson (Missouri) of the South," and with good reason. The city has more than 100 amusement parks, approximately 1,800 restaurants, top-notch fishing (of the deep sea, pier and surf varieties), and a wide variety of retail shops. With more than 60,000 units are available for vacationers and a year-round mild climate, Myrtle Beach has a booming tourism business.

When you're ready to take a break from the beach, Myrtle Beach has plenty of attractions to keep you busy -- most of them related to the area's natural resources and architectural history. Among them: Brookgreen Gardens, a wildlife park and garden; Bellefield Nature Center, featuring exhibits on local history, coastal ecology, including a "touch tank" of aquatic life; Historic Georgetown Tours, a series of riverboat tours including a plantation excursion and a trip to nearby Shell Island; Kaminski House, an 18th century colonial landmark-turned-museum; Hampton Plantation, an 18th century mansion filled with relics of architectural history; and Boone Hall Plantation, "America's most photographed plantation."

Retirees have settled here in increasing numbers during recent years. Myrtle Beach boasts many high-quality health-care facilities to accommodate its residents. Golf communities are located in abundance throughout the area, many of them with private gates; and oceanfront condominiums are another popular choice both for retirees and second-home seekers. Planned communities are appearing right and left in Myrtle Beach and are an extremely popular choice for relocating families and move-up buyers. These communities represent what is best about Myrtle Beach: a relaxed, hassle-free lifestyle, accessibility to the water, low maintenance, and a social life with fellow residents that usually is centered around a beach house or clubhouse and a variety of recreational activities -- most notably water sports and golf.

It's little wonder that Myrtle Beach now ranks as the country's second-fastest growing destination in terms of population growth and job creation. Whether or not businesses are based in Myrtle Beach, the evolution of technology has made telecommuting an increasingly tempting option for professionals. This region of the South offers a vital and diverse economy, a healthy real estate market and an oceanfront lifestyle that appeals even to the most die-hard city slicker. All of these factors combine to produce a quality of life that ranks among the nation's best.

Ocean Isle Beach Real Estate

Ocean Isle Beach Real Estate is still booming. Contrary to what some of the news articles say, real estate sales are still hot in the Brunswick County Beaches coastal area.