Good news for fisherman, boaters and channel-front property values in the Cherry Grove section of North Myrtle Beach.
After eight years of legal wrangling over ownership of the canals, it’s official: ownership belongs to the State of South Carolina, and the City of North Myrtle Beach plans to dredge the main canal and 28 channels.
Sediment in the channels has increased from 4 inches to 15 inches in the last five years, and as a result, boaters must time their outings with high tide.
(Click image to enlarge)
Approximately 1,100 property owners along the channels risked loss in real estate value and rental value. As we reported back in April 2012, “If dredging is not completed, rental properties along the channels could lose their appeal to vacationers causing property values to decline.”
The City of North Myrtle Beach plans to begin dredging in the fall of 2014 and estimates it will take six months to complete the work.
Posted October 14, 2012
By Kay Van Hoesen
Phone: 843-497-9155, Ext. 103
Kay Van Hoesen is founder, senior appraiser and owner of Certifax, Inc., real estate appraisers in Myrtle Beach, specializing in appraisals of channel-front homes and condominiums, oceanfront, and resort real estate in North Myrtle Beach and the entire Grand Strand. With local appraisal experience since 1986, she and her staff have developed more than 35,000 appraisals for 3,400 clients.
Kay is a state certified residential real estate appraiser in both South Carolina and North Carolina as well as FHA-approved. Additionally, she is a licensed real estate broker in South Carolina, a participating member of the National Association of Realtors, the Coastal Carolinas Association of Realtors, and an Associate Member of the Appraisal Institute.
Stay informed about the Myrtle Beach real estate market:
Become a premium Certifax Report member and you’ll receive rock-star treatment, all our research, and expert consultation.
Every day the trusted experts at Certifax scour the market, analyze and report the best real estate bargains
Most are 10% to 25% below recent sale prices
Are you a member of The Certifax Report?