The federal income tax credit of $8,000 for first time home buyers is set to expire on December 1, 2009. The American Recovery and Reinvestment Act of 2009 authorizes this credit for persons who have not owned a home during the previous 3 year period and want to purchase a primary residence. Congress is debating the issue of extending this credit into 2010 because of the positive effect it has had on the real estate market. Here in Myrtle Beach and across the nation, there has been a measurable increase in home sales over the last 4 months, with many foreclosure and REO properties being snapped up by eager buyers. With the tax credit available immediately to use for a down payment or closing costs through a short term loan program, many people who otherwise would not qualify for mortgages are able to get into a home and this boost is fueling the resurgent market. All the paperwork for this credit and closing must occur before December 1st, so anyone wanting to take advantage of this program need to begin the process as soon as possible.

Earlier this month Horry County hosted what is believed to be the largest foreclosure auction in county history . Site Tech Systems, a Garden City company that specializes in gathering, consolidating and analyzing real estate information, estimates that over 600 lots, homes, condos, commercial real estate and land parcels were up on the foreclosure auction block. Many people in attendance could not remember an auction this size at any time in the past. The nearly 6 hour ordeal found buyers snapping up bargain real estate and lenders buying back REO properties from foreclosed loans. The recent attempts by the government to modify loans to prevent foreclosure is not going as smoothly as planned adding to the mounting home crisis. Sales have been climbing over the last few months this summer,  but many analysts continue to believe the crisis has not seen its last days.

Carolina Forest Commerce Center

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The subject property sits on a single tract of land located in the third phase of Carolina Forest Commercial Center. The Carolina Forest Commercial Center is located on the south side of Carolina Forest Boulevard and is just outside of the “City Limits” of Myrtle Beach. This is beneficial because tenants do not need a city business license.

The subject is located in the unincorporated 12,000-acre community of Carolina Forest. This neighborhood is located between Conway and Myrtle Beach, and is bounded on the east by the Intracoastal Waterway (with about six miles of frontage), on the south by Highway 501, on the west by vacant land owned by International Paper Realty, and one the north by the Conway Bypass. Carolina Forest is about 4 miles northwest of Myrtle Beach and 6 miles southeast of Conway. With easy access to Highway 501, the location is convenient to either major employment center. It is also newly accessed by Robert Grissom Parkway and Postal Way,  putting the eastern portion of the township within minutes of  downtown Myrtle Beach.

The subject parcel contains .886± acres or 38,594± square feet. It has approximately 150 feet of linear frontage on Carolina Exchange Drive and 190± feet along Carolina Commercial Drive. The proposed improvements to the site will consist of a 16,293± heated square foot building with a tenant mix that building will include multiple retail/restaurant units on the first floor and multiple office suites on the second floor. Plans provided indicate 4 retail/restaurant units on first floor and 6 office units on the second floor. The design of the units allows combination/division of units for adaptable floor plans.

The Facts
17,000 Total square feet
16,293 Leasable square feet
Designed for 10 Suties  
4 First Floor retail or restaurants
6 Second Floor office units
All units are adaptibile 

The Features
Myrtle Beach address outside of city limits (no city tax)
Seam Metal Roof
Superior Wall System (Green Energy Efficient) 
Hydraulic “Otis” Elevator
Built to the latest ADA standards

The Location
High traffic area
Close proximity to Highway 501 (ADT 55,000) 
Easily accessible to HWY 501, HWY 31, and Postal Way
At the Southwest end of Carolina Forest (total build-out 65,000 people)
Walking distance to Post Office, Restaurants, Convenient Stores, Grocery Stores, and numerous Banks.

This estate home is in the heart of Myrtle Beach and has been COMPLETELY renovated… Over 4100 heated square feet featuring 5 bedroom 3 full 1 half bath 3 car garage and study… Sitting on a 1 acre golf course homesite this lot is ideal for a pool…

The Facts
4150 heated Square Feet
5 Bedroom 3.5 bath 3 car garage
Study, Bonus Room, Screen Porch
List Price $1,100,000

The Features and Renovations
Hardwood Floors
Custom commercial grade kitchen
Gas range
New custom cabinets
All Counter tops are granite
Master bath redone in Marble
Marble Front porch and screen porch
Venetian Plaster custom paint downstairs

Builder has special financing worked out with local lender…  100% financing – 3.75% – 30 year fixed – No PMI 

Subject to verifiable income and credit score…

http://video.google.com/videoplay?docid=-9201456289607881408

Awesome open floor plan on the Parkland #12 – 4 bedroom 3 bath 2 car garage – This custom built home features Insulated Concrete Form (ICF) exterior walls, travertine floors, granite counter-tops, large kitchen w/ work island, fireplace w/ granite hearth, screen porch, security system, intercom and much more sitting on a fenced in Golf Course homesite…  Professionally Decorated – Furnishings are negotiable!

Click on picture for more information

This home sits on a large golf course lot – Directly across the fairway is a conservation area that can never be developed… There is tons of upside potential with this home.  The ICF construction makes this a very energy efficient home and affords you better insurance rates than stick built homes.

The facts
2600 Heated Square feet
4 bedroom 3 bath 2 car garage
Screen Porch
ICF construction
$549,900

The features
Travertine floors
Granite Counters
Fireplace
Custom cabinets
Security Sys, Intercom

http://video.google.com/videoplay?docid=-8372657114454870895

The Development
There’s no place quite like Legends. Everywhere you look it’s easy to see that Legends has created an extraordinary environment. Within our 1300 scenic acres, we have master-planned a superb selection of real estate opportunities to complement the beauty of the land and grandeur of the golf courses. With 3 award-winning golf courses, a stunning Scottish clubhouse, an Old World pub, a 30-acre lighted practice facility, 3 pools, 2 hot tubs, tennis courts, walking/biking trail, and two restaurants, Legends has truly first class amenities in place.

Real Estate Opportunities

PARKLAND – Private residential enclaves of beautifully designed custom homes. Depending on your time frame you may elect to build your dream home, purchase an existing home, or simply buy the homesite.

GLENEAGLES – Designed for permanent or second home living, Gleneagles brings a new standard of spaciousness and year round living comfort to condominiums and townhomes. 6 floor plans to choose from.

TURNBERRY PARK – These perfectly designed golf villas make a great vacation home. You may even have our on-site management company lease it out while you are away.

This sought after 1st Floor 3 bed 2 bath condo is ideally located near 2 pools, hot tub, and The Aisla Pub. A large open split bedroom floor plan… This condo has been used as a second home and is in picture perfect shape… One of only twenty 1st floor 3 bedroom condos in Legends Resort…

Click For More Information

The facts
3 bedroom 2 bath
1528 Heated Square Feet
9ft ceilings
Screen Porch

The features
Eat in kitchen
Walk in closet
Screen Porch
Fully furnished

http://video.google.com/videoplay?docid=3005460533310113616 

The Development
There’s no place quite like Legends. Everywhere you look it’s easy to see that Legends has created an extraordinary environment. Within our 1300 scenic acres, we have master-planned a superb selection of real estate opportunities to complement the beauty of the land and grandeur of the golf courses. With 3 award-winning golf courses, a stunning Scottish clubhouse, an Old World pub, a 30-acre lighted practice facility, 3 pools, 2 hot tubs, tennis courts, walking/biking trail, and two restaurants, Legends has truly first class amenities in place.

Real Estate Opportunities

PARKLAND – Private residential enclaves of beautifully designed custom homes. Depending on your time frame you may elect to build your dream home, purchase an existing home, or simply buy the homesite.

GLENEAGLES – Designed for permanent or second home living, Gleneagles brings a new standard of spaciousness and year round living comfort to condominiums and townhomes. 6 floor plans to choose from.

TURNBERRY PARK – These perfectly designed golf villas make a great vacation home. You may even have our on-site management company lease it out while you are away.