For Sale - Single Family Home at Polo Farms

***MOTIVATED SELLER***

No HOA!! Enjoy the country setting of this 3 bedroom, 2 bathroom home sitting on a corner lot. Conveniently located off Highway 905, near Highway 22. This house is located about a 20 minute drive to the beaches at North Myrtle Beach. View the complete details, more pictures and the visual tour of 760 Alexis Drive.

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Search the Grand Strand MLS

Search the Grand Strand MLS for the most up-to-date properties for sale. From this link, you can search by MLS number, Area, Subdivision, Address, Property Type, Property Features and more. Register a unique username and password on the site and save your searches and your favorite properties. Easily communicate with me your favorite properties, and I can "Help You Find the Sandcastle of Your Dreams" even faster!

If you have any questions about a property you see, please call me at (843) 267-2710 or email me at Kathy@KathyRukat.com.

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Market Commons Progress

Thursday, October 11, 2007 marked the one-year anniversary of work beginning at The Market Commons on the old Air Force Base. Construction on the townhouses and the store fronts has begun. To read the complete story written Friday in the Sun News, click here. You can also view a video of the construction. Three companies announced on Thursday they would open stores at The Market Commons. Those stores include Victoria's Secret, Bath and Body Works and Travinia Italian Kitchen. Other planned tenants are listed in the Sun News article.

The Market Commons remains a large undertaking for all involved. If you have any questions about the progress or purchase opportunities, let me know.

Bank of America Chief Economist: "No Recession in Sight"

12 Oct 2007

In a featured op-ed piece published in Tuesday's The Wall Street Journal, Bank of America chief economist Mickey Levy provided a thought-provoking and informative outlook on the United States economy, and articulated his view that despite some near-term challenges, the economy remains fundamentally sound and is unlikely to go into recession. The full text of his article is included below.

Levy also was a featured guest on CNBC's "Squawk Box" program Oct. 11, discussing his editorial.


No Recession in Sight

Despite recent financial turmoil and a dismal housing market, there are key reasons why the economy will continue to expand, albeit at a modest pace, and not go into recession. Businesses are well poised to absorb a period of weaker product demand and are unlikely to significantly alter their hiring and investment behavior. Consumer spending is supported by rising incomes. Exports are strong. And monetary policy is consistent with sustained growth in domestic demand. Next year, we will look back and once again marvel at the flexibility and resilience of the economy.

To be sure, there is bad news. Housing construction and prices will continue to fall at least through 2008. There is an 18-year high in the inventory of unsold homes and soft sales that are constrained by several factors, including expectations that home prices have further to fall.
The surge in home ownership, which rose dramatically to nearly 70% in 2005 from 64% in 1994, has proved just as unsustainable as the reliance on subprime mortgages. That surge has begun to recede, and lower prices and onerous adjustable-rate mortgage resets point toward a modest further decline — each one percentage point represents about one million homes. That decline, along with foreclosures, will elongate the housing inventory adjustment, exert downward pressure on prices, keep builders on the sidelines, and shrink employment in construction and the home finance sector.

The good news is that other factors will provide an offset. First is international trade.
Strong U.S. exports and less reliance on imports, reflecting healthy economies overseas and the weaker U.S. dollar, are boosting production and job creation here. During the housing boom years 2002-2005, residential construction added an average 0.4 percentage points per year to real GDP as the widening trade deficit subtracted 0.6 percent. That's now reversing. Since mid-2006, while the decline in residential construction has subtracted 0.9 percentage points from GDP growth, the narrowing trade deficit has added 0.5 percentage points. Expect more of the same.

Second, U.S. businesses are poised to withstand contraction.

During the late stages of prior economic expansions, as product demand slumped in response to excessive monetary restriction, firms tended to maintain production and employment growth, resulting in large inventory overhangs. Business capital spending also tended to grow too rapidly — witness the late 1990s investment boom. Consequently, most of the decline in real GDP during prior recessions was attributable to inventory liquidation, which meant cutbacks in production and jobs, and sharp reductions in capital spending. Presently, those conditions don't exist.

Businesses in a wide range of industries outside of the housing sector have nimbly adjusted their production processes, and inventories are very lean. That significantly reduces the potential impact of any slowdown in demand on production and employment. Similarly, firms have constrained investment spending while maintaining high cash balances. Following the capital spending boom of the 1990s, the unwinding of the capital stock, net of depreciation, also lowers the probability of a jarring reduction in business investment spending.

Third, Fed monetary policy points toward sustained growth in nominal spending. Despite the financial turmoil, credit remains available to basic businesses and the vast majority of households, and a general "credit crunch" is highly unlikely to unfold.

Historically, real disposable personal income has been the dominant factor driving consumer spending. As long as businesses maintain employment, and wages continue to rise, reflecting tight labor markets, rising personal income will outweigh the negative impacts of declining home prices, declines in mortgage refinancing, and even the recent increase in energy prices, on consumption.

This assessment presumes that businesses will not cut net jobs. No doubt, jobs will be lost in some industries — real estate, mortgage brokers and related finance, to name a few. But that's minor in the context of 138 million U.S. workers.

Fourth, my discussions with a wide array of business executives in an assortment of non-financial industries suggest that they have not materially altered their hiring plans, despite heightened concerns about general economic conditions. The majority plan to maintain employment levels or increase them in the next year, with most of the planned increases in export and international-related activities. September's reported rise in employment, covering the period of maximum financial crisis, is encouraging.

Once again, turmoil on Wall Street doesn't necessarily translate to contraction on Main Street.
Remember, following both the stock market crash of 1987 (which involved a cumulative 35% decline in equity valuations) and the 1998 financial crisis, the economy continued to expand. In both cases the Fed eased, financial markets absorbed the shock, and the economy proved resilient. The same will unfold this time; recession is not in the cards.

Myrtle Beach Highlights

Myrtle Beach Highlights

Live Shows
Alabama Theatre, Carolina Opry, Dixie Stampede Dinner and Show, The House of Blues, Legends in Concert, Medieval Times Dinner and Tournament, Palace Theatre and the Tribute in Concert

Beaches
Over 60 miles of pristine beaches in the Grand Strand

120 Championship Golf Courses
Myrtle Beach is the Seaside Golf Capital. Over 4.2 million rounds are played annually

1,800 Full Service Restaurants
If you would eat at a different Myrtle Beach area restaurant for every meal, it would take you over 1.5 years to cover all of them. That is, unless you’re like us and have more than 3 meals per day!

Fitness
There are dozens of fitness centers in the Myrtle Beach area including two Gold’s Gyms. There are more than 200 tennis courts with a variety of surfaces in Myrtle Beach.

Over 300 Outlet Stores
Coach, Polo Ralph Lauren, J. Crew, Liz Claiborne, Nike, Eddie Bauer, Guess, Jones New York, Tommy Bahama, Tommy Hilfiger, Cole Haan, Timberland, Rockport, Johnston & Murphy, Columbia Sportswear, Aeropostale, Brooks Brothers, Nautica, Rue 21, Nine West Perry Ellis, Fossil, Movado, Ann Taylor, Banana Republic and the list keeps going…

Coastal Grand Mall
The largest mall in South Carolina and still growing. Featuring numerous specialty shops, restaurants and a 12 screen movie theatre.

Myrtle Beach Pelicans
An Atlanta Braves Carolina League Class-A team

Grand Dunes
A 1 billion 500 million subdivision stretching front the Atlantic Ocean to the ICW. Offering a marina and planned upscale shopping and dining.

Hospitals
*Grand Strand Regional Medical Center – 1 of the state’s top rated heart centers, located on 82nd Avenue North
*Conway Medical Center – located 6 miles West in Conway, SC
*Wacammaw Medical Center – located 8 miles south in Murrells Inlet, SC. The area’s newest facility with the most modern equipment.

Town Centre
1000 acres in the heart of Carolina Forest with house mixed retail and professional offices (doctor’s offices, shopping, possible eateries)

Myrtle Beach Speedway
Professional and Amateur racing sanctioned by NASCAR. There are also other attractions for the racing enthusiast including NASCAR Speedpark.

Fishing
Freshwater, Inshore and Offshore fishing is available in Myrtle Beach. There are also eight ocean fishing piers, head boats and charter boats that can be utilized! Everything from Bream to Swordfish can be taken.

Water Activities
Sailboats, Jet Ski, Pontoon Boats, Canoe and Kayak rentals are available. Scuba Diving, Parasailing, Surfing, Boogie Boarding and Windsurfing are popular as well.

Kids and Family Activities
Family Kingdom Amusement Park, Myrtle Waves Water Park, Ripley’s Aquarium, Ripley’s Believe It or Not, IMAX Theater, Children’s Museum of South Carolina, Huntington Beach State Park, Brookgreen Gardens, Ghosts and Legends, Magiquest, Wild Water and Race Theme Park, Lazer FX, Build a Bear, Great American Riverboat Tours, Alligator Adventure and much more!


Broadway at the Beach
South Carolina’s most visited attraction. It is a collection of shops, restaurants and entertainment options. A must see!

Barefoot Landing
Very similar to Broadway at the Beach but located on the Intracoastal Waterway with free dockage! Alabama Theater and the House of Blues are there. If you’re longing to see an alligator, go there to visit Alligator Adventure.

Colonial Mall
Featuring the largest Bass Pro Shops in the US!

Ripkin Experience
Cal Ripkin’s baseball and training facility. Just Opened!

Hard Rock Café Theme Park
It’s official…the only one in the world… will be in Myrtle Beach, SC. Look at Disney!


There is much more, but I will get Carpal Tunnel Syndrome if I type all of the Myrtle Beach Highlights. Here are some of Myrtle Beach’s Accolades:

One of America’s Best Beaches Travel Channel

Best Family Beach Travel Channel

One of Best of America Reader’s Digest

No. 1 Golf-Home Community Golf Digest

Best of the South Meetings South

Great Places to go Coastal with your Kids USA Today

No. 2 of Top 10 Beaches Yahoo Travel & Nat’l
Geographic Magazine

A Favorite Travel Destination Southern Living

Top 10 Winner Southern Accents

Favorite Southern City Southern Accents

Favorite Golf/Spa Destination Southern Accents

Favorite Beach Destination Southern Accents

No. 1 of 10 Most Desirable 2nd Homes www.escapehomes.com

One of the Top 5 Most Popular Drive Destinations AAA

SPORTSTOWN USA Sports Illustrated

One of 10 Great Retirement Towns Travel 50 & Beyond
No. 1 in United States for Growth Potential Restaurant Business

One of 100 Best Retirement Towns in America Where to Retire

No. 29 of 200 Best Places for Business & Careers Forbes

For Sale - Ocean Front Efficiency at the Caravelle Resort

***MOTIVATED SELLER***

Recently renovated ocean front efficiency at the Caravelle Resort. This high rise building is located in the highly sought after "Golden Mile" section of Myrtle Beach. See the pristine beaches from your private balcony.

To view more pictures, a virtual tour and more details on this condo, please visit http://621CaravelleResort.KathyRukat.com.

"The Only Market That Matters Is Yours"

For months now, the national media has been bombarding watchers of the news and readers of the newspapers with "real estate experts" stating that the housing bubble has burst nation wide. Many of these experts are not real estate agents or in the field working with buyers and sellers daily. Also, real estate markets are local, not national. Any questions you may have about your real estate market should be directed to a real estate expert in your hometown.

Here’s what Gary Keller, co-founder and chairman of Keller Williams Realty has to say about waiting out the current market:

First, residential real estate is not a national market product — it is a local one. To say from a national position that this is either a good time or a bad time to buy real estate is like saying the national forecast for the U.S. today is 92 degrees — it is a useless and irrelevant perspective. What is happening in your local market is all that matters.

Second, trying to predict when it is a good time to buy, or not, means you’re trying to time the market. Staying on the sidelines is the surest way for most people to never time anything correctly.

Last, and maybe most important — there are always two markets in every market. There is the market of properties that are good buys and there is the market of properties that are not a good buys. Interestingly enough, this is true in either buyer or seller markets. To categorically say that this is the time to buy or not is absolutely ignoring the fact that every market really has two markets inside it.

If you have any questions about the condition of the Myrtle Beach area real estate market, I am your local real estate expert, and you can ask me. I will be happy to help you with any real estate questions - whether you are a buyer or a seller!