Smart People Find A Specialist
Tom Taylor, the original Condo Specialist, has been the broker for more new Oceanfront condominium buildings than any Realtor in North Myrtle Beach. Tom has the knowledge, experience and skill to achieve your real estate goals and objectives.
If you are an Oceanfront Homeowner planning to sell your condo, nothing is more important than knowing a fair asking price for a willing and able buyer. Tom Taylor will send a Free Market Analysis using recent comparable sold listings to determine the accurate value of your Oceanfront second home. New buyers arrive every day, so Contact Tom now for the best opportunity. Contact Tom now at 800-238-4848 for information on sales in your condo building.
Realtors have honored Tom Taylor as a Resort and Second Home Specialist and many more awards. Tom has more specialized education in condominiums than any Myrtle Beach area Realtor.
Where to Buy & Why
Oceanfront high rise construction on the North Myrtle Beach oceanfront began in 1981 with a building called Crescent Sands. For the next 15 years similar buildings with a construction process called EIFS , were built along the beach with only one swimming pool for water amenities. Any condo from this era could be considered 'second tier' with regard to construction type and the higher expectations of today's owners and guests.
Starting in the late 1990s, new condo projects featured a water amenity called the Lazy River. It floated people sitting in large tubes along a narrow course of water. Whirlpool tubs were also added. EIFS was replaced by solid concrete end walls reinforced with steel. Condominiums from the 1990s era serve the homeowner who is not as concerned about rental income and appreciation.
Water amenities desired by owner and guest were greatly improved in the next decade. Multiple Pools , Lazy River, Hot Tub, and Fitness Room became standard in the last projects built before the stock market plunge put an end to the housing boom. These condominiums command higher resale values and receive more frequent vacation rentals at higher rates. Top condo buildings include Mar Vista Grand, Bluewater Keyes , and North Beach Towers. Projects like these comprise the top tier condominiums and there is no competition for them - now or or more than a decade into the future due to a lack of funding for highly leveraged condo construction and the scarcity of large oceanfront land parcels.
Any new condo construction would require a 40% down payment by each pre-sale buyer as banks are no longer willing to shoulder a huge majority of the risk. Over the last 20 years, there were new condo projects being built every year. Such a rapid increase in supply eventually outgrew demand. However, the increase in sales at North Beach Towers alone shows demand is now there for the right product.
When North Beach Towers sells out the 2 and 3 bedrooms condos they are selling at a rate of 15 per month (one every 48 hrs), the supply of top tier condos - with the most desirable amenities and features, will soon consist entirely of resales. New buyers will be dependent on finding homeowners willing to sell their prestige condos at some reasonable price. Of course, this will produce a sellers market and nothing can stop the trend once it emerges and is recognized by the owners at Bluewater Keyes, Mar Vista Grand and North Beach Towers, and eventually all of the Top 20 Properties.