jason morris

Where are most vacation condos located?

Most vacation condos are located in tourist areas such as beaches, lakes, golf course and ski resorts.

They are typically in place where people would go to spend a weekend or week to enjoy nearby attractions. Other areas would include near major attractions. In Orlando, Fl there are many vacation condos because of all of the nearby attractions. Myrtle Beach Condoshave also been extremely popular.

In the last few years there have been several developers such as the Ginn Company who have owned land that was not by nearby natural attraction, so what they done was create their own. This was done buy digging lakes and ponds, water parks, restaurants and other features to make their resort a destination you could go relax and take the entire family.

When is the best time to purchase a vacation Condo?

Often the best prices and purchasing incentives are available during the pre-construction offering before the condo is actually built. During this time developers are often taking reservations and are in need of reserving a certain percentage of the development in order to secure a construction loan to build the property.

Many developers are offering guarantees on myrtle beach rentalsright now as well as a tremendous amount of other incentives.

But if you miss out of the Pre construction condosyou can often find great deals in older resorts. Many older myrtle beach condoswere built in prime locations and have all the amenities of new resorts, but have had time to mature and appreciate leaving room for a buyer to be able to purchase an existing condo that has a stable track record of vacation rentals.

The best time of year to purchase in many areas is during the off season. Usually in the off peak season ocean front condos don’t have a large income and most condo owners are more willing to let there myrtle beach rentals go for a cheaper price. During the off season many vacation owners will have already received the bulk of their yearly income and the condo will be producing very little to support itself. During this time of year inventory levels are a little higher than during the busy season and because of the lower incomes may be more inclined to sell at a discount.

Now is also a great time to look at buying myrtle beach condo foreclosures

Starting a property management company Starting a property management company can be an extremely rewarding adventure. Real Estate Property Management is something that is highly needed no matter what cycle of the market we are in. Myrtle Beach Rentals are fairly challenging because being in a tourist area things are constantly changing. Myrtle Beach condos are very dependant on how well the economy is doing. The reason is because most of the area is highly dependant on tourist dollars to drive the retail industry, hotel industry and restaurants. There are different kinds of Myrtle Beach rentals, the market has a lot of room for annual property rentals, but also vacation rentals are a huge business. Millions of people come to the Myrtle Beach area every year. Many of these people are interested in weekly rentals or nightly rentals. The difficult part of starting this business is it is very seasonal. During the summer months you will be extremely busy. Now the winter months can be difficult. Vacation rentals can be extremely labor intensive. Every week you have to do check in and check outs, not to mention you have to deal with room cleaning, 24/7 guest complaints and a list of other issues. The other option is doing annual rentals. Annual rentals are just what it sounds like. These people actually live in the area and plan to stay year round. This is the least labor intensive choice. You also have some properties like Dunes Village Resort that has condos and time share. This even ads more challenges. In the state of South Carolina you have to have a property management license or a real estate license to be able to manage real estate for other people. Most cities and counties will also require you to have a business license also. Now property management is defiantly not a business for the faint of heart. Dealing with people and the place they live is always interested. We have said many times you don’t really know someone until you rent to them. Starting a Myrtle Beach rentals business managing Myrtle Beach real estate is defiantly something that is needed no matter what cycle of the economy we are in. We always recommend the follow things are must have items before you get started. A Post Office Box – this can save a lot of time by requiring all tenants to mail rent in. Letting people come to your home or picking up rent from people can be dangerous, not to mention you don’t want someone coming in your home while you are trying to spend time with your family. A Fax machine – A fax machine is a must, there are always things needing to be faxed to people and you don’t want to have to hunt one down every time you need one. Internet connection – Most people find it easy to communicate through email. Email also gives you a paper trail if it is needed later on. A cell Phone – You don’t want to miss a call from a potential renter – the quicker you can answer or call back the quicker you can show your property and get someone to move in. That is the basics for starting a property management company. Of course when showing property you always want to remember to be safe. You also will want to make sure you follow your state guideline for a liscense

I saw something very intresting recently. I was not the listing agent or the buyers agent, but I know the buyers agent very well and even know the actual buyers.

here is what happened....

There was a home that was sitting on the market, it had been on the market for over 2 years. The asking price started at about $750,000 and over time the price kept getting reduced.

Finally the price was lowered to $475,000 which was probably pretty close to its actual value, but at $475k it was a short sale.

Well these buyers put in an offer on this Myrtle Beach short sales at $450k even. The back waited the normal 90+ days to respond and decided they were not going to accept the offer, so the buyers walked.

With Myrtle Beach Short Sales this seems to be normal that they take so long to get back to the buyers that the buyers move on.

Well the home ended up in foreclosure which wasn't a suprise. The bank got it back after the auction and listed it with one of the local REO agents.

The same buyers ended up come back and buying the home after the foreclosure for $385k

My question is why didn't they accept the offer of $450k before foreclosing?

I would love to hear other peoples opinions on this? please post your comments

Breakers Resort

2006 N Ocean Blvd

Myrtle Beach, SC 29577

The Breakers Resort in Myrtle Beach, SC offers some of the best amenities of any Myrtle Beach resort. The resort has a 70 year tradition of having the best staff and best service on the grand strand. The ultra-modern and beautiful accommodations are some of the best on the beach. They also off a lot of on-site activities that are great for the kids.

Its no wonder The Breakers Resort is one of Myrtle Beach's best resorts on the grand strand. They offer facilities for small meetings The resort is set up as individual Myrtle Beach condos. The Breakers resort is located just 3 blocks from the Myrtle Beach convention center. Seven towers make up the Breakers Resort

The Breakers Resort offers a wide array of meeting rooms, including the Oceanfront Ballroom, which accommodates up to 150 people.

Swimming pool - indoor Swimming pool - children's Bar/lounge Room service (limited hours) Parking (free) Fax machine Photocopy machines 24-hour front desk Laundry facilities Vending/Ice Machines Elevator/lift

Swimming pool - outdoor Fitness equipment Restaurant(s) in hotel Breakfast available (surcharge) Banquet facilities Audio-visual equipment Number of rooms: 635 ATM/banking Air-conditioned public areas Bell Service

The resort offers 635 condos total.

On-site restaurants include:

Papa's Restaurant - Located across the street from the resort, they serve steaks, seafood, ribs and other American food

The Red Parrot Café - This restaurant is on-site and serves lunch and dinner daily and has a great selection of sandwiches, seafood, salads and the best burgers and fries on the Grand Strand

Best of all we can book your Breakers Resort Vacation or any other Myrtle Beach rentals on the Grand Strand

Doing property management we hear this all the time!

I can't get my property rented - The rental market is bad - blah blah blah

Well we have no problem at all getting properties rented. Actually I'm busier than I have ever been with all of these Myrtle Beach condos on the market. We are getting calls every day, believe it or not we are renting out properties and doing showings every day.

The only reason I'm not out showing properties right now is because I made a decision a while back to not do showing for rental properties on Sundays.

But my purpose on writing this post is I wanted to tell you exactly why you can't get your properties rented.

well first of all there are only a few reasons why your property is not renting

1. The property is not priced correctly. Its tough to price a rental sometimes. Especially now days, most renters are looking to number of bedrooms and price. If you price your property too high, you won't get calls on it and if you price it too low everyone assumes it is in bad shape, a scam or just a first month special.

2. You need to have a phone number in all of your ads. So many times I see people with ads on craigslist (friends of mine) that don't understand why they are not getting people to respond, well its simple, you have to put a phone number in your ad. We get less than 1 email for every 10 to 15 calls we get. People looking to rent have a lot of Myrtle Beach rentals choose from right now and they dont want to wait to have their questions answered. Oh and you need to actually answer your phone. We have a lot of calls that do not leave messages, so we call them back from our caller ID. 90% of them want information on a property they just chose not to leave a message or call the next ad they were intrested in.

3. Your property is in bad shape. Say you are doing showing constantly but no one is giving you a deposit or doing an application. Chances are your are priced right but something is wrong. Many the rooms are odd colors or the kitchen needs up dating.

4. You are not setting appointments. Most people when looking for a rental they are looking for something safe, clean, big enough, in their price range and close to work. Chances are if they are calling you half of those questions were answered when they read your ad. So all you have to say is "when would be a good time for you to go see it?" and try to set an appointment for as soon as possible. If you try to set an appointment for 2 or 3 days from now just because you don;t want to go show the property, that prospect will probably rent from someone else.

Normally if I am just sitting around with no appointments and nothing urgent to do and someone calls, I don't ask to set up an appointment I say "I can show it to you right now?" or "I can be there in 10 minutes to show it to you."

Normally by making sure your rental is priced correctly, is good shape, you have a phone number on your ad and are answering you phone and you are setting up appointments, you will rent your property.