| Sunday, May 29, 2005 |
| Preconstruction Investment News |
Myrtle Beach Still Rides The New Condo Construction Tsunami with North Carolina Condos and Real Estate Following Closely Behind...
Myrtle Beach Preconstruction is still the hottest market for investment real estate, continuing to offer lower prices than its Florida sister, and rivaling Las Vegas and Arizona for baby boomers and investors looking for a fast return.
Unlike many of the older "bubble" areas, most of the developers of Myrtle Beach condos will still allow the buyer to "flip" the investment, meaning to re-sell the reservation on paper before the project is closed and the deed issued. In Las Vegas, the high-end preconstruction condo projects will no longer allow this, and according to several realtors there, if the condo is resold before two years time, the profit actually goes back to the developer! There are complicated ways around this, such as buying the property under an LLC corporation and then selling the corporation, but this is beyond the ability of most part-time investors. Coupled with the still reasonable oceanfront condo sale prices in Myrtle Beach, this is a strong draw for the Grand Strand investors.
Preconstruction in Myrtle Beach is booming, with new properties going up in all areas. Number one in the area for marketing these resorts is The Myrtle Beach Condo Store.
The company’s founder, David O’Connell, is Myrtle Beach’s leading expert in the oceanfront preconstruction market and indicates that the company presently has more than six hundred million dollars of resort property in various stages of planning, preconstruction and development. One of his higher profile projects is the Prince Resort Myrtle Beach at the Cherry Grove Pier in North Myrtle Beach. The first of 5 planned complexes is breaking ground at this time, and the second, across the street is planned to begin pre-sales in the next few weeks. Three more will follow them, both oceanfront and across the street again, for a total of 5 complexes. In addition to them, but unrelated are two smaller condominium buildings on the south side of the pier.
In North Carolina, Carolina Beach is in the middle of a renovation and hopes to innervate the city with several luxury resorts. Park Place is a water-front condominium complex presently in preconstruction stage and offering luxury units with all the amenities and beautiful water views of the various inlets that winds through Carolina Beach like liquid arteries.
With no end in sight to the many preconstruction opportunities, New Resorts is the number one source for investors and those desiring vacation condos. For more information, and to get on the mailing list to be informed of new construction developments, visit http://www.myrtlebeachcondostore.com or call David O'Connell at 843-455-5500.Labels: myrtle beach condos, myrtle beach condos for sale, preconstruction condos, Prince Resort |
posted by Myrtle Beach Web Design @ 6:53 AM  
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