Listing Update

The price on Landmark Resort, Unit 514 has been reduced to $75,000.

The seller is extremely motivated to sell this condo. If you are interested in owning a condo in Myrtle Beach, please call me today at (843) 267-2710.

This condo was renovated in 2006. Renovations included granite counter tops in the mini-kitchen, tile in the bathroom and new designer carpet in the bedroom area of the condo. New furnishings and custom upholstery complete this condo.

The Landmark Resort is a well-known, family friendly resort with a good rental history. The resort has many on-site amenities including indoor and outdoor pools, hot tubs, lazy rivers and on-site restaurants. The parking garage is across Ocean Blvd. and is connected to the condos by an air-conditioned walkway.

Democratic Debate

The Democratic Party held its debate in Myrtle Beach last night, Monday, January 21. This debate was held at the Palace Theatre located at Broadway at the Beach. As with the Republican debate, the Democratic debate featured a sand sculpture of the candidates. CNN aired the debate.

Listing Update - Price Reduction

The price on unit 1107 at the Monterey Bay Resort has been reduced to $149,900. This condo is a one bedroom, angled ocean front condo in a great resort in the Golden Mile section of Myrtle Beach. This condo sale is a short sale, and my seller is very motivated to sell. If you or anyone you know would be interested in this condo, please contact me at Kathy@KathyRukat.com or (843) 267-2710.

GOP Debate

All eyes around the nation will be on Myrtle Beach today. The Republican Party will be holding a debate tonight at the Myrtle Beach Convention Center. Fox News will be broadcasting the debate at 9 p.m. Candidates at tonight's debate include Ron Paul, John McCain, Mitt Romney, Mike Huckabee, Rudy Giuliani and Fred Thompson.

A group from Team Sandtastics have been working on "Mount Myrtle Beach" since Monday morning. The sand sculpture was completed Thursday morning prior to the debate Thursday night. The sculpture features a bust of all six candidates in tonight's debate. Once the debate is finished, the sculpture will be demolished and the sand will be moved to the site of the Democratic debate later in the month.


Traffic will be re-directed on Thursday prior to and during the debate. If you will be traveling in the area of the Convention Center, check the Debate Traffic Map.

The Democratic Party will hold their debate at the Palace Theatre in Myrtle Beach on January 21, 2008.

Listing Updates

***Just Reduced***

The seller of 6804 North Ocean Blvd., Unit 1107, Myrtle Beach (the Monterey Bay Resort) has reduced his asking price to $155,000. This condo is a one bedroom with an angled ocean front view. The seller is very motivated. Call today for details if you are interested in owning a condo in Myrtle Beach.

Alexis Drive, Longs (Polo Farms Community)

The three bedroom, two bathroom home located on Alexis Drive in Polo Farms has been taken off the market.

November MLS Stats

I defined residential homes as single family detached homes and single family new construction as these are the most popular residential properties.

Total Active SFH - 5,065
Average Listing Price - $496,498
High Price - $26,500,000
Low Price - $15,000

Total Pending SFH - 545
Average Listing Price - $291,779
High Price - $3,195,000
Low Price - $32,500

Total Sold SFH - 279
Average Sold Price - $281,954
Average List Price - $303,474
High Price - $1,900,000
Low Price - $5,000

New SFH Listings Added in November - 740

As you can see with the number of sold listings versus total listings, the Myrtle Beach market is a Buyers' Market. Currently, we have over a year supply of single family homes to sell. However, when you compare the sold price versus the list price, homes are selling for an average of 93% of the listings price. This percentage is slightly lower than in months past.

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The condo and townhouse category includes condos, townhouses, 1/2 duplexes and new construction projects.

Total Active Condos/Townhouses - 7,246
Average Listing Price - $284,619
High Price - $2,900,000
Low Price - $48,000

Total Pending Condos/Townhouses - 1,245
Average Listing Price - $298,922
High Price - $849,900
Low Price - $49,000

Total Sold Condos/Townhouses - 38
Average Sold Price - $340,715
Average List Price - $342,223
High Price - $710,000
Low Price - $78,500

New Condos/Townhouses Listings Added in November - 755

The condo market is similar to the single family home market in that we currently have a high level of inventory. Our sale price versus list price is holding high. Sellers are receiving, on average, 99.5% of their listing price. While our listing inventory has skyrocketed, Sellers are receiving a higher percentage of their listing price.

Listing Update - The Landmark Resort

My listing, Unit 514, at The Landmark Resort has had a price adjustment. The asking price has increased to $82,000. If you have any questions about this property or any other property, please call me at (843) 267-2710 or email me at Kathy@KathyRukat.com.

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