Posts

Myrtle Beach has a rather mature public transportation system that is safe and affordable.  Known as “Coast RTA”, their Fixed Route bus system has relatively broad coverage, consisting of 10 regularly scheduled routes servicing Horry and Georgetown Counties. The fixed routes include Andrews, Bucksport, Conway, Garden City, Georgetown, Loris, Murrells Inlet, Myrtle Beach, Pawleys Island and Surfside Beach.  The Fixed Route service operates seven days a week, 362 days per year. Coast RTA observes the holidays of New Year’s Day, Thanksgiving and Christmas so its employees may spend time with their families.

Many area attractions from shopping and restaurants to amusements and accommodations...

The road projects in Horry County are defined as Ride Improvement & Development Effort (RIDE).  There have been two previous “road project phases” (RIDE 1 and RIDE 2) that have already been completed.  Current road projects are included in the RIDE 3 road project phase.  RIDE 3 is being funded by a one cent capital project sales tax.  Horry County maintains a detailed RIDE 3 “Dashboard” such that residents can view the current status of all RIDE 3 road projects.  Plans for a subsequent RIDE 4 are already being discussed.

To see the recently completed, ongoing and planned road projects in Horry County, please visit:

Horry County RIDE 3 Dashboard

The Carolina Forest Community is a popular place to live.  As a result, the new housing market in Carolina Forest is exploding.  There are now over 30 new home communities either (1) in progress or (2) approved whereby ground not yet broken.

Visit New Homes Carolina Forest for a list of all of the new home communities either in progress (19 communities) or planned with approved zoning (15).

Visit the Horry County Planning and Zoning Department for the latest statistics on Carolina Forest new housing.

Visit Vansant Realty Group, a Carolina Forest based real estate company, for the current list of Carolina Forest homes for sale and the list of new home communities available in Carolina F...

The South Carolina State Housing Finance and Development Authority (SC Housing) is a self-sustaining agency committed to ensuring that South Carolinians have the opportunity to live in safe, decent, and affordable housing.  SC Housing is offering up to $8,000 in what they are calling *Forgivable Down Payment Assistance (DPA) to borrowers that meet certain requirements.  This DPA may be used towards a borrower’s down payment, closing costs and/or prepaid items. Borrowers must meet sales price and income limits, in addition to SC Housing’s first mortgage requirements. This offering is available on both new and existing homes. Technically this is considered a second mortgage with either a te...

Property taxes are a factor when deciding where to reside.  The state of South Carolina consistently ranks as a state with one of the lowest property tax “rates”.   There is no single tax “rate” across all of South Carolina, but the tax rate can be deduced for a given property in Horry County by multiplying the fair market value, times the “assessment ratio”, times the millage rate.

Generally speaking, the fair market value is the amount for which the property can reasonably be expected to sell on the open market with a willing buy and a willing seller.

The “assessment ratio” in Horry County is 4% for owner occupied primary residences – 6% for all others.

The millage rate will vary bas...

On January 19, 2022, the government sponsored entity, Federal National Mortgage Association (Fannie Mae) announced that, effective March 19, 2022, it is implementing an update to their Desktop Underwriter product/process that will provide an option for “Desktop Appraisals”.

Requirements to use this approach are tight (one-unit  principal residence, loan-to-value ratio less than or equal to 90% and several others), but in essence a key component of this change will allow an appraiser to conduct analysis and develop an opinion of value with “no physical inspection of the subject property”, while utilizing data that may be provided by various parties (buyer/seller agent, homeowner, builder,...

The Myrtle Beach area has made such significant progress over the past few years – it’s a beautiful thing to see.  The commitments being made by local government are a key part of this growth and improvement of the area.

Case in point is the recent purchase of land downtown by the city.  They bought this land as much for public safety as they did for any specific redevelopment plan.  They plan on demolishing the buildings in the area of this purchase as quickly as possible to prepare the property for its next life.  This kind of the city commitment and agenda should make newcomers (and existing locals) feel very comfortable about the future of Myrtle Beach and the surrounding area.

Myrt...

Average Mortgage Amounts Top $423,000 (Record High) for New Home Purchases according to December 2021 data from the Mortgage Bankers Association (MBA).  The December 2021 MBA Builder Application Survey (BAS) data indicated that the average loan size set another survey record at $423,102.

Mortgage Bankers Association (MBA) is a leading advocate for the real estate finance industry and is the only association representing all segments of the real estate finance industry.

MBA's Builder Application Survey (BAS) tracks application volume from mortgage subsidiaries of home builders across the country.

For more information visit Mortgage Bankers Association.

There will be 2 new home communities coming to River Oaks Drive that will be developed adjacent to Berkshire Forest. D. R. Horton will be developing “The Villages at Berkshire” and right next door Chesapeake Homes will be developing “The Traditions at Carolina Forest”.  Contact Vansant Realty Group for more information.

2022-01-11 - Marion County Council Unanimously Approved Resolution in support of Interstate 73

Marion County Council Resolution

2021-12-14 - Myrtle Beach City Council voted unanimously to approve a resolution to fund the construction of Interstate 73. Under the resolution, the city would commit $4.2 million annually over 30 years for the project.

Official Statement from S.C. Rep Case Brittain

2021-12-06 - North Myrtle Beach City Council voted unanimously to commit $1.7 million each year to fund the proposed interstate. Other qualifications must be met each year before the city commits the money, but the hospitality tax will be used for the contribution.

News 13 Report

2021-10-04 - G...

Surfworks, South Carolina's first surf & adventure park, will be opening in the heart of America's favorite family beach destination, Myrtle Beach.

As of January 2022, Surfworks is going through the permit drafting process to be ready for earthwork towards the spring/summer of 2022.   This would have them making waves towards the end of summer 2023.

Myrtle Beach welcomes over 20 million annual visitors. Many of these visitors book surf lesson during their stay. A surf park, powered by Wavegarden, will offer perfect waves all day, every day. This facility will be the ideal place for learning to surf and progressing rapidly.

​For more information see https://www.surfworks.com/

From fine to casual dining, participating restaurants will feature special menu items, promotions and discounts.

Restaurant Week in Myrtle Beach 2022 is January 13 - January 22

Fannie Mae requirements have been revised in December 2021 for comparable sales when the subject property is one of the first sales in a new or recently converted condo project, subdivision, or PUD containing 2 to 20 properties.  Fannie Mae now will allow the appraiser to use comparable sales from outside the project that meet the following:

▪ the comparable sales must be from a similar type of project, subdivision, or PUD; and

▪ the comparable project, subdivision, or PUD must be another development that has similar units, amenities, and is a similar size to the subject.

If the subject is not the first unit under contract in the project, the appraiser must also include one “under cont...

U-Haul provides an annual listing of “growth cities” – by calculating the net gain of one-way U-Haul trucks entering a city/market versus leaving that city/market in a calendar year.

U-Haul listed Myrtle Beach 17th in the country for one-way moves using U-Haul trucks. The one-way truck trips rose 32% from the same metric in 2020, according to the "U-Haul Growth Index" released from the company.

The one-way moves are one metric to contextualize rapid growth in the area. Myrtle Beach continues to be one of the fastest-growing areas in the country, proven again by the 2020 U.S. Census. With a remote-work revolution brought on by the pandemic, relocating has exploded throughout the last two...

Horry County has officially finalized the purchase of the property for the future Augusta Plantation Interchange along SC 31 connecting Augusta Plantation to Revolutionary Way.

A Request for Qualifications is currently going through the County’s procurement process with the selection of an Engineering Design Firm anticipated in January 2022. Following those negotiations, the County will have more information regarding the construction cost and project timeline.

Contact Horry County Government for more information and timing.