Myrtle Beach Real Estate by Mirela

Myrtle Beach Hotels see slow start

Myrtle Beach Hotels on the Oceanfront and those around Broadway at the Beach are seeing a slow start to Summer rentals.  With the economic reversals of Fall 2008,  Myrtle Beach experienced a slow end to rentals in the period that ran from October through December as well.

"We have seen a soft beginning to 2008", said J Goldstein,  manager of Coastal Golf Away.  Coastal Golf Away is one of the premier golf vacation companies in the area that runs from Ocean Isle Beach to Pawleys Island.  "We are hoping that consumer confidence will grow with the new administration in place."

"The misery index is real high right now", said Christina Taylor,  a sales account executive for Myrtle Beach Hotels.

"We are waiting for March". stated Bruce Kligman,  owner of Kligs Kites.  "For our business,  we really don't know the effects until the tourists either come and spend,  come and don't spend,  or don't come."

Many hotels in Myrtle Beach, SC are seeing reservations for Summer months booked at half of what was on the books at this same time in 2008.  "People are just waiting longer this year to make reservations", said Bob Cline,  owner of Cherry Grove Realty,  a company that does sales and vacation rentals.

While the new administration is promising hope,  Myrtle Beach vacation rentals and area hotels just aren't feeling it yet. 

Myrtle Beach Real Estate sales have seen a small blip up according to the Sun News recent blog about Condo Lux.

Perhaps we are nearing the bottom of an economic decline or perhaps the bottom is just ahead.  It does appear that consumers are worried in general and vacation spending will happen last minute this year,  if at all.

 

What's your opinion?  Has the economic recession moved beyond the real estate industry in your area?

 

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Comment balloon 8 commentsMirela Monte • January 26 2009 05:41PM

Comments

We were really busy this past week-end. We had several sales, the phone was ringing and I hope it continues. 

Posted by Connie Lou Barnett, GRI,CRS,CRB,SRMM,ARA,PRS,SFR,QSC (Real Living/Home Realty) over 11 years ago

Here we are see layoffs, but 6 hotels have closed and 4 are being built so I don't know what that says. We have no forward thinkers in this county. They think we're a tourist town but want allow gaming or cruise ships. Industry tried to come to town but they run em off.

Posted by Charles Stallions, 800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl. (Charles Stallions Real Estate Services ) over 11 years ago

Personally my business is doing well, but I think there will be more "misery" to come.  Unfortunately, five of our friends are unemployed right now, and we know more lay offs are coming.  Things will be tough for a lot of people for some time.

Posted by Carol Lee, Realtor - Agoura, Oak Park, Westlake CA Homes (Dilbeck Real Estate) over 11 years ago

Mirela, Did I read somewhere that they were going to cancel Bike Week?  I may be wrong but, I thought I saw that somewhere. 

Posted by Larry Story, Total Care Realty, LLC, Greensboro, NC Real Estate (Total Care Realty) over 11 years ago

I think all hotels are feeling the pinch. I know guests are down here in Charleston and the economy needs as many visitors as possible right now

Posted by Randall Sandin, 843-209-9667 - Search for Charleston SC Real Estate (Carolina One Real Estate) over 11 years ago

We visited Myrtle Beach about 5 years ago, maybe we should do it again if it's so cheap! We loved it.

Posted by Josh Holt, Southern Maine and NH Real Estate - Your Source of Info on the Berwicks (RE/MAX Coast To Coast~ Dedicated to You!) over 11 years ago

I have not heard anyone talk about our local Summer rental market.. Now you have me currious! People pay a small fortune to rent a home near the beach here...

Posted by Robert Rauf (HomeBridge Financial Services (NJ)) over 11 years ago

Mirela: Most definitely.  It is not only real estate, but restaurants, people are losing their jobs.  You name it..........Real Estate is not the only thing that has had its bumps in the road.

Posted by Dianne Barody, Pensacola Florida Real Estate (Century 21 AmeriSouth Realty) over 11 years ago

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