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Fantastic Idea: Market Encapsulation 101

This idea came to me as a result of Chris Lambos' remark about a new high rise condo project in Nashville. I didn't know they had high rise condo projects in Nashville; did you?

We are all very familiar with our own areas, but know little about other markets. Our Localism leads may also want to know more about them. Why don't we encapsulate our markets via blogs that describe ALL of our Real Estate products, in EACH, specitic location, complete with descriptions, price points, links and pictures?

I will produce just such a blog next week. Here is a quick encapsulation of our market, here in Myrtle Beach:

1. Concrete & steel oceanfront condos. Older buildings such as Landmark (50 yrs) and newer ones such as Avista. Price points: $ 60K-over a mil.

2. Low rise oceanfront condos. A dying breed. Older, wood, condos, usually on stilts. These have been either well kept up, or recently re-done. Price points: $80- $ over a mil.

3. Golf condos......

You get the idea (I hope). There are 10 different types of properties I will be describing. I will encapsulate the market, then do an in-depth analysis of each product (that's 11 blogs total).

How about your market? As a consumer, wouldn't you like to see such a simplification of Real Estate product? I'm curious about other markets. I have investors who buy in many different areas. This might help them also. Let's post these to our Optimist group, as well as on the Realtors' board and various others. The Optimist group is about what else? Optimism, hope, new direction, solutions.

What do you think about this idea?

Myrtle Beach Real Estate by Mirela Monte

Posted by Myrtle Beach Real Estate by Mirela Monte on 05/23/2008 10:09 AM

Comments (14)

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14 Comments on Fantastic Idea: Market Encapsulation 101

I'm excited about this idea! I can't wait to hear from you on it!

05/23/2008 10:21 AM

by Mirela Monte, Your Myrtle Beach Connection

I think that is a great idea. Will definitely involve some effort but would be a great project once it is finished.

John Thomas - Certified Mortgage Planner - Primary Residential Mortgage

05/23/2008 10:24 AM

by John Thomas (Primary Residential Mortgage Inc.)

Hey, Mirela. Great idea and we love Myrtle Beach. We actually vacation near Avista each year. Have a wonderful weekend, Jim.

05/23/2008 10:26 AM

by Jim & Maria Hart ~ Charleston, SC Real Estate (Agent Owned Realty)

John Thomas:

Q: HOW DO YOU EAT A WHALE?

A: ONE BITE AT A TIME!

Just Do It! Put something together asap, then polish it up! Be the first to show that you are the expert in your area!

05/23/2008 10:29 AM

by Mirela Monte, Your Myrtle Beach Connection

Jim and Maria: I love that area too! Say "Hi" next time you're at the beach! My office is almost walking distance to Avista.

05/23/2008 10:31 AM

by Mirela Monte, Your Myrtle Beach Connection

Actually a good idea - I'm always interested in what the market is like in other cities......I just did a localism blog for my area regarding the comparables in different subareas and types of housing - didn't quite figure out how to incorporate the photos and make it an easier read, although the numbers were interesting. Never would have thought of posting it in the Optimist Group.....but I'll do it after I ad some pics.....Also Mirela how do you add colour to your print? I tried doing it in Word and Wordpad and it just reverted back to black small print on the blog?

05/23/2008 11:21 AM

by Liz Moras- Team Leader & Managing Broker Keller Williams Valley Realty (Serving Abbotsford, Chilliwack & Fraser Valley)

Liz: I can't wait to read these! I'm working on mine. I look forward to reading yours!

05/23/2008 05:07 PM

by Mirela Monte, Your Myrtle Beach Connection

NASHVILLE: You've come a long way, baby!

We Nashvillians

got tired of logs

a few years back,

So we hired some of those 'big city' architects (you know...college fellas) to come down South and help us catch up with big fancy cities like Jackson, MS...New Orleans, LA ...Birmingham, AL...Charlotte. NC...etc.

Here's what those city slickers came up with:

The Viridian Encore Tower Icon

Terrazzo The Adelicia

Signature Tower (55 floors condo/hotel combo))

(coming soon)

Now, there is a downside to all of this here progress...something called DRESS CODES...seems like we have to wear shoes and such before going inside...Go figure.

Oh well, come on down and visit a spell to see these marvelous structures...(and be sure to throw some boots or shoes in those gunny bags before you leave the house - I reckon they won't let company in without shoes either.

Y'all Come Back Now, You Hear?

lol

05/23/2008 11:02 PM

by Chris Lambos (The Realty Association)

05/23/2008 11:13 PM

by Chris Lambos (The Realty Association)

Chris, you got me! I was laughing out loud when I checked this out on my I-phone last night (still can't comment from my I-phone).

I would love to see some interior shots, some comps, etc. How about it, Chris?

05/26/2008 12:57 PM

by Mirela Monte, Your Myrtle Beach Connection

Greetings, Mirela!

Do you want comps for the cabin? Those go for upwards around $2.43 per square log(depending on upgrades...lol) :)

Where is Murrells Inlet, SC? A friend of mine knows this guy (Wendell-something) who plays guitar at a bar called Drunken' Jack's. Though alcohol is not a part of my lifestyle plan (See 'Read My Hips' blog), I would not mind sipping on a Margarita and listening to this guy for an hour or two. He plays old Jimmy Buffett tunes, along with Gordon Lightfoot, Jim Croce (and a bunch of original material).

He's also playing on N. Ocean (3002 or 3802 is the street address) in Myrtle Beach. I'll have to check his schedule to find out the name of the place).

If you want sales comps/pics of the condos, I'd be happy to send you some.

Keep writing!

-Chris

05/26/2008 04:14 PM

by Chris Lambos (The Realty Association)

Yeah I agree, I don't do condos here they are very small in the market, but anytime you can gather a information list you are doing well and people will find it useful.

05/28/2008 11:56 AM

by Spokane Real Estate - Ross Quintana (Team Quintana Real Estate - MJ McAdams Realty Lic#3015)

Chris: ...So a 2BR/2Ba runs you about $ 250-$300K?

Are they all in downtown Nashville? How are the HOA fees?

.......

Murrells Inlet - an adorable, quaint part of the Grand Strand, home to many wonderful pubs and restaurants. Great seafood, laid back atmosphere. Jimmy Buffett rules around those parts and many places pay homage to him regularly.

If you are looking for a laid back atmosphere, Murrells Inlet is sure to please. If you come down to visit, let me know and I'll join you for a margarita.

05/28/2008 03:52 PM

by Mirela Monte, Your Myrtle Beach Connection

In the Viridian, 1BR lofts sell in the low 200s to mid-200s. 2BRs in that building are 350+

$300-$400/sf is not uncommon. I'll check on 2BR listings and email tem to you.

I will let you know when I'm in your neighborhood...Murrells Inlet sounds like ME 2 A T.

Also, let me know about the Hilton...the deal that has been offered sounds reasonable....maybe $100 off per night.

Nice to hear from you, Mirela!

05/28/2008 04:13 PM

by Chris Lambos (The Realty Association)

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