Condo developers in New York City have run into the perfect storm.  Buoyed by foreign money and a wild-west mentality at the turn of this century, developers figured they could not go wrong by buying up and renovating existing hi-rise buildings or plowing over older buildings and putting up new hi-rise condos.  Many of those projects began selling units earlier this year, just in time for the financial market meltdown and the massive job losses on Wall Street.
    Real estate is all about supply and demand, and right now in New York City, as it is in most markets nationwide, there is too much of the former and
Like Wall Street, real estate markets abhor uncertainty.

too little of the latter.  Stories are rampant of Wall Street workers walking away from their contracts and their down payments.  The few buyers on the streets are in a state of high-anxiety about future price drops.  Who wants to put down $1 million on a place whose market value could slip to $800,000 in a matter of months?  Just like Wall Street, real estate markets abhor uncertainty.
    Developers holding dozens of unsold new condos have to do something more than offer a few upgrades in kitchen appliances or a part of closing costs in order to entice the nervous.  According to an article in the Real Estate section of the Sunday New York Times this weekend, those developers are beginning to mimic electronics and other retailers with a series of "price protection guarantees" that anyone contemplating property in the southern U.S. might do well to consider.  The way it works is straightforward and contractual:  If you sign up to pay $500,000 for a unit, for example, and the same (or almost the same) unit elsewhere in the building sells for $475,000 before you close, you get the lower price.
    The guarantee is a little easier to execute in a condo complex where units are essentially the same size and configuration than, say, for properties in a golf community.  But if two parties to a real estate transaction agree, you can write just about anything into a contract (short of violating local zoning laws).  For example, if you are interested in a lot adjacent to a golf course but want some price protection, you could negotiate a clause with the developer that would reduce your purchase price if another lot on the golf course sells for less than yours (on a dollar per acre basis).  Barring that, you could try for a contingency that says if similar properties sell for less than the price you signed up for before your closing, you can back out of the deal. 
    If you are that relatively rare person in the market for a home or property, don't be afraid to get creative.  You have all the leverage, and you would be foolish not to push for the best possible deal.    

Planning the Ultimate Myrtle Beach Golf Vacation
As to be expected, the justifiably lauded Caledonia Golf and Fish Club in Pawleys Island, SC, makes the Myrtle Beach Golf Vacation guide list of recommended places to play.


    Chances are good that at some point in your golfing life, Myrtle Beach, SC, has been on your itinerary.  The combination of reasonably priced accommodations and dozens of fine golf courses packed into about a 100-mile stretch attracts hundreds of thousands of golfers every year.
    But for those who have never been to the Grand Strand, or have but let someone else make the arrangements, traps await (in more ways than one).  Of the 100+ golf courses 50 miles on either side of

It is hard to put a price on a memorable golf vacation, but how does $19.97 sound?

Myrtle Beach, a few are clunkers, and one or two of those in your rotation could cast a pall over an otherwise enjoyable week.  Accommodations can run the gamut from comfortable to tawdry, despite the fancy brochures and on-line come-ons.  And although I would never define any of the area's restaurants as gourmet, a few are excellent, but many others are overpriced and overrated.  Figuring out which are which is not a job for a neophyte golf vacation planner.
     It is hard to put a price on a memorable golf vacation, but I will -- $19.97 -- the price of a comprehensive guide, Planning the Ultimate Myrtle Beach Golf Vacation by David Baum and the editors of the only unbiased golf travel newsletter on the market, Golf Odyssey.

Nice work, taken seriously
    The newly published guide breaks down the Grand Strand into north, central and south sections.  Each section includes reviews of the best golf courses, lodging accomodations and restaurants in the eyes of the editors.  They have played all the courses they recommend, eaten in all the restaurants and visited all the lodging options.  It is nice work if you can get it, but they take their work very seriously, and each of their recommendations is well argued.
    I consider myself well acquainted with Myrtle Beach, having made dozens of trips there since my first visit in 1968, when a room at the oceanfront Sea Mist Travelodge, 36 holes of daily golf (with cart), breakfast and a late afternoon oyster roast set me back a total $99.  I own a home at the south end of the Grand Strand, at Pawleys Plantation, and I agree with the editors' assessment of the golf course there (although in the time since their visit a year ago, conditions have improved).  The editors highlight most of the courses I would put on my own "best of" list, and they do a convincing job of explaining their choices.  More importantly, they provide tips about how to access a few courses, like the famed Dunes Club, that make non-member tee times difficult to attain.  And if you have ever been victimized by -- surprise -- aerated greens, the Myrtle Beach Golf Vacation guide provides a handy list of dates each course plans to punch holes in their sod.  That alone is worth the modest cover price of $19.97, but the guide provides many more money-saving and, potentially, vacation-saving tips.

Too good to be true?  Not   

    A few slight missteps take nothing away from the value of the guide.  For example, in a review of the outstanding Resort Course at Grande Dunes, the editors ignore the signature 14th hole, a long and beautiful par 3 that plays alongside the Intra-coastal Waterway and over water to a large sloping green protected by a yawning bunker.  They tout two other nice one shotters in lieu of the 14th.  Okay, that's a subjective call, but not so their description of the daunting 16th at Pawleys Plantation, a long par 4.  I've played it dozens of times, and I can testify it moves hard left, not a "dogleg right" as the editors indicate.  And although some of their golf reviews carry a "born-on date," I wish they all did.  Conditions on Myrtle Beach's courses are a function of season (winter and summer tend to be the iffiest), and it would be especially helpful in planning a trip to know the months the insiders played each course.
    Those few niggles aside, at $19.97 the Myrtle Beach Golf Vacation guide is that rare animal that seems too good to be true but isn't.  It will pay for itself the first time you use it.
    To order your downloaded digital copy of the Myrtle Beach Golf Vacation guide, go to www.golfodyssey.com/myrtle_beach.
grandedunesmemberclubforecaddie.jpg

The Myrtle Beach Golf Vacation guide explains how you can play the private Nick Price designed Members Club at Grande Dunes, where a caddie or forecaddie is mandatory.