Radha Herring, Owner of Myrtle Beach Realty Firm, Wins State’s Top Business Award

May 9, 2012 By

Adaptive Business Strategies Helped Firm to Thrive in the Recession

COLUMBIA, S.C. – Radha Herring, owner and broker-in-charge of Myrtle Beach area firm Watermark Real Estate Group, is the SBA’s 2012 South Carolina Small Business Person of the Year. The SBA selected Herring based on her growth in sales, financial performance, response to adversity and community involvement.

A Myrtle Beach native, Herring started Watermark Real Estate Group in 2007 after a ten-year corporate telecommunications career in Raleigh, N.C. Watermark was the first totally web-based real estate firm in the Myrtle Beach area. Its virtual structure gave the firm the flexibility to help clients buy and sell residential and vacation properties along the 60-mile Grand Strand.

The year that Watermark opened for business was also the year that the housing market imploded and the recession began, deflating the real estate industry. Undeterred, Herring decided to approach the industry’s struggles as business opportunities. For example, while many realtors at the time avoided distress properties, Herring realized a chance for clients to find coastal properties at reduced prices. Watermark quickly began offering potential buyers free access to lists of bank-owned properties.

Herring also realized that the tightening financial markets offered another niche for Watermark to fill. Because cash transactions were now accounting for 50 percent of all real estate sales, Watermark started focusing on the major Myrtle Beach area real estate product that required cash: condominium units within luxury hotels, known as “condotels.” At the same time, Watermark’s agents worked on strengthening relationships with area lenders in order to match clients with the banks best equipped to handle their mortgages.

Herring’s optimistic approach to the recession’s obstacles paid off. In 2009, Watermark’s sales were 15 times higher than the previous year, and sales continued to through 2010 and 2011. Watermark also grew from two agents in 2008 to nine agents today.

Watermark is a member of the Myrtle Beach Area Chamber of Commerce, where Herring serves on the Legislative Policy Council. A Clemson University engineering graduate, she also serves on the Clemson Extension advisory board and is a member of the university’s Alumni National Council. In addition, Herring is active in her local Association of Realtors, where she serves on the board of directors and as vice-chair of the Real Estate Leadership Program.

 

Filed Under: Awards, Feature Stories

WATERMARK REAL ESTATE GROUP RECOGNIZED BY US CHAMBER OF COMMERCE WITH BLUE RIBBON SMALL BUSINESS AWARD

March 8, 2012 By

March 6, 2012, Washington, D.C. — Watermark Real Estate was selected to receive the Blue Ribbon Small Business Award today by the U.S. Chamber of Commerce. The company was recognized for their dedication to the principles of free enterprise and their contributions to restoring jobs and prosperity. Watermark Real Estate also received this award in 2010.

Two other South Carolina companies also received the award. These include Pino Gelto of Hilton Head and South Atlantic Bank of Myrtle Beach.

“The recipients of this year’s Blue Ribbon Award excelled in business amid great uncertainty and thrived despite difficult economic times,” said Thomas J. Donohue, U.S. Chamber president and CEO.  “More important than profits, their successes have provided much-needed jobs and hope to the people in their communities.”

The awards program, sponsored by Sam’s Club®, honors companies that demonstrate excellent business practices in several areas, including strategy, employee development, community involvement, and customer service.

“These award winners embody the spirit of American free enterprise,” said Donohue.  “Today, the Chamber celebrates the positive impact made by these South Carolina companies and is proud to recognize them for their outstanding achievements.”

This year’s 75 Blue Ribbon winners were selected from a record number of nationwide applicants and will be honored at America’s Small Business Summit 2012, May 21–23, in Washington, D.C.  On March 15, seven of the Blue Ribbon recipients will be announced as award finalists, and one will be named the DREAM BIG Small Business of the Year during the summit.  The winner will be presented with a $10,000 cash prize courtesy of the U.S. Chamber.

Blue Ribbon businesses are also eligible for the Community Excellence Award, which will be decided in March through online public voting.  All area residents are encouraged to visit www.uschambersummit.com/ceaaward to cast votes on behalf of our area businesses. Additionally, 25 Free Enterprise Honorees were commended for their strong business practices and contributions to the economy. Watermark Real Estate Group was recognized with this award in 2011.

To learn more about America’s Small Business Summit, visit www.uschambersummit.com

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

 

Filed Under: Awards, Press Release

Vote for Watermark !!

March 5, 2012 By

We are excited to announce that Watermark Real Estate Group has been awarded the 2012 Blue Ribbon Small Business Award by the US Chamber.

The recipient that receives the most votes by March 12th, wins the Community Excellence Award! If you could take a moment to vote for Watermark, we would truly appreciate it. Voting link:  http://goo.gl/zymAE

 

The U.S. Chamber is honored to announce the 2012 Blue Ribbon Award Winners! These 75 small businesses were selected from a nationwide pool of applicants for their innovative business practices and strong contributions to their communities. The Chamber also applauds these 25 Free Enterprise Honorees. “These award winners embody the spirit of American free enterprise,” said Thomas J. Donohue, U.S. Chamber president and CEO . “Today, the Chamber celebrates the positive impact made by these companies and is proud to recognize them for their outstanding achievements.”

Filed Under: Awards, Feature Stories

Myrtle Beach SC welcomes the 2012 GOP Debates

January 16, 2012 By

A sand sculpture will greet the GOP’s presidential candidates when they arrive for the debate in Myrtle Beach SC on Jan. 16. Sand Sculpture Artists built the massive sculpture across from the Myrtle Beach Convention Center on Oak Street and featured all of the candidates.

The debate starts at 9 p.m. Monday at the Myrtle Beach Convention Center, five days before South Carolina’s Jan. 21 primary. It will air on FOX News.

Filed Under: Feature Property Top Right, Feature Stories

South Carolina law change aims to stimulate real estate

August 16, 2011 By

MYRTLE BEACH, SC (WMBF) South Carolina Governor Nikki Haley says a new bill will help revive the state’s real estate market. Monday morning in Charleston she held a ceremonial signing of the bill that changes how much some people have to pay for property tax.

Haley actually approved the law in June, but Monday’s signing gave realtors a chance to celebrate.

Specifically, the new bill changes South Carolina’s Point of Sale law, which set property tax at the point when a property was sold. Some people, particularly realtors, have said it made taxes unfair, they hope the change will boost real estate across South Carolina.

“Let’s get real estate moving in South Carolina,” Haley said after signing the bill.

She said she believes changing the Point of Sale law can do that. The law began in 2006, and it set property tax based on the purchase price rather than the value of the property.

“So we had many situations where you would have two identical houses side by side in a neighborhood where one property owner was paying a drastically higher tax bill than his neighbor,” explained Radha Herring with Watermark Real Estate Group.

Again, that is because the new home buyer was paying tax based on how much he paid for the home, while his neighbor was still paying based on the assessed value from years earlier.

“We actually have had clients during the boom elect not to purchase property in South Carolina because the tax bill would be significantly higher than neighboring states,” Herring said.

So the change aims to make a real estate purchase less financially intimidating because of the high tax based on the purchase price. The new law now gives a 25 percent discount to anyone who buys property taxed at six percent. That does not include the primary home of an owner, but it does include commercial, rental or second-home property. That is a huge percentage of real estate in the Grand Strand Herring said.

“You own a second home, your parents own a second home, your grandparents, your friends, your neighbors, they own a second home, it’s important to them,” Herring said. “It affects you in the pocketbook.

“It’s a win for the real estate community, but more importantly it’s a win for property owners in South Carolina because they can purchase property here on the Grand Strand or anywhere in the state and know that the tax that they’re going to be paying is fair, or at least more fair than it had been with point of sale.”

The new law is retroactive, so it applies to commercial, rental or second-home purchases since the beginning of the year.

Some local governments have opposed the change, saying it means less property tax money going toward public services.

Copyright 2011 WMBF News. All rights reserved

Filed Under: Feature Stories

Myrtle Beach HUD Properties

August 15, 2011 By

Start You Hud Property Search Here! This is one type of foreclosure property that you should know about if you are a buyer who plans to occupy the home (as opposed to an investor). That category is the HUD foreclosure or “HUD home”.  HUD homes are homes that have had an FHA buyer who defaulted on the loan. Remember that FHA is a program that insures the lenders against risk when they participate in this low-down-payment government program. Therefore, when an FHA home is foreclosed, the lender submits a claim to HUD, who pays the claim, takes possession of the property, and puts the home on the market as a HUD home.

Why should you consider a HUD home?

With a HUD home, you stand a better chance, for several reasons. First, it’s a matter of HUD policy to give preference to owner-occupants. If you are prepared to stay in the home for one year or more, you will have the first chance to bid on HUD homes. For the first few days a HUD home is on the market, it’s “No Investors Allowed” — HUD only wants to look at bids from owner-occupants.

Second, if you’re a first time home buyer especially, you should know that HUD offers extremely attractive terms. Some HUD homes are available with FHA financing, and some of these are eligible for FHA 203K rehab loans, meaning you can finance the repair work that needs to be done to bring the home up to FHA standards. On some HUD homes, HUD will pay up to 3% of the price of the home toward your closing costs, and on some, you can bring in a down payment as little as $100. So for $100 and the remainder of your closing costs, you can own a home.

To find out what HUD Homes are available in our area, your best resource is HUD’s official web site, www.HUDHomestore.com. New HUD homes come on the market every day, so be sure to sign up for email updates in the areas you’re interested in. HUD is its own beast, and many folks have found that these email updates will serve you even better than the MLS.

Watermark Real Estate Group is one of the few agency in our area that can work with HUD Properties. If we can answer any questions for you about HUD homes that you see in the MLS or on the HUDHomeStore web site, please send us an email at info@watermarkagents.com or give us a call at 843-314-4284. To learn more about HUD homes and other foreclosures, subscribe to our Bargains at the Beach today.

Filed Under: General

I73 Corridor to Myrtle Beach

August 9, 2011 By

The Myrtle Beach area is the busiest vacation destination in America without interstate access according to the Myrtle Beach Chamber. As Myrtle Beach puts plans in motion to attract an additional 3 million to 4 million visitors per year, traffic congestion will only get worse. I-73 can attract new industries and higher paying jobs, providing an economic lifeline to the Pee Dee and economics diversification to the Grand Strand. In the event of a major hurricane, I-73 will provide an alternative hurricane evacuation route. Widening Highway 501 is a nice gesture but I-73 will provide jobs, create economic growth, boost wages, attract industries and save lives.

Now is the time to voice your opinion concerning I73. You can visit www.i73.com to provide comments and to review alignment plans.

Filed Under: Feature Stories

SC State Tree – Sabal Palmetto

July 26, 2011 By

Walk around Myrtle Beach or anywhere along the 40 miles of the Grand Strand and this is pretty much the image you will see. Sun rising over the blue Atlantic, surrounded by the state tree, the palmetto. Sometimes the locals get a little upset when this tree is referred to as a palm. But, in fact, a palmetto tree is merely one variety of over 2000 varieties of palms in the world. But, we locals still like to call it by it’s true name, the Sabal Palmetto. This tree has been a symbol for South Carolina since the American Revolutionary War. There, it was used to build a fort on Sullivan’s Island that withstood British attack. The palmetto tree appears on the first symbol of the state, the seal created in 1777. It was officially named the state tree in 1939.
Filed Under: Things to do in Myrtle Beach

Prince Resort, Oceans One, and Sandy Beach Resort

May 22, 2011 By

Filed Under: Watermark's Choice Properties

Southern Cuisine & Paula Deen

April 29, 2011 By

Coastal Uncorked…Enjoy Wine, Southern Cuisine & Paula Deen!

Coastal Uncorked Food and Wine Festival featuring Paula Deen is the Myrtle Beach, S.C. area’s premier food, wine and spirits festival.

The festival features a restaurant week starting May 8th; a wine tasting trolley tour of Myrtle Beach; Paula Deen featured event; outdoor entertainment at Market Common and the Myrtle Beach Boardwalk and Promenade; the Coastal Uncorked Golf Tournament; and the Coastal Uncorked Food Fight Gala.

All funds raised during the festival will be used for future events and a portion will be donated to the Horry-Georgetown Technical College Culinary Arts School and the Coastal Carolina University’s Clay Brittain Jr. Center for Resort Tourism.

Click Here For Calendar of Events

Filed Under: Myrtle Beach Things to Do, Things to do in Myrtle Beach
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