The Federal Reserve entered uncharted waters yesterday, lowering the interest rate banks charge each other to almost zero, because banks have been so reluctant to loan money - even with each other.  The Fed also announced that it would do whatever was necessary - including printing unlimited amounts of money - to defrost the frozen credit markets.

So how did everyone react?

The stock market was up, the bond market dropped like an anvil, and, in anticipation of a flood of newly-printed greenbacks, the dollar dropped sharply against foreign currencies.

But in the real estate world, we got what we expected, and a piece of what we needed.  Today, buyers can secure a 30-year fixed-rate mortgage for just 4.75%.

NOW who wants to buy Myrtle Beach real estate?

They’ve done it again.  Actualy, they do it every few days.  If you regularly fly to Myrtle Beach (or want to) for real estate reasons or just for fun, you really should check out Spirit Air’s sales as well as DirectAir’s sales.

Direct Air has announced airfares to Myrtle Beach from every destination they serve for just $140.00 total round trip. They call it “Family Ties” but we call it, “Hurry up and grab ahold of this deal right now before they sell them all!”

Family Ties avoids the airline nonsense we all hate but have learned to live with:

1. You don’t have to pick your travel dates now.

2. You don’t have to pick your traveling companions now.

3. In fact, you don’t even have to be the one who travels at all.

You can purchase up to twenty round-trip certificates which are valid from November 1, 2008 through October 31, 2009.  Choose your travel dates and travel buddies later.

Check out the details (including the fine print) here, or call them at 1-877-432-DIRECT (3473).

If you’re coming to Myrtle Beach to check out real estate deals, or check in on your real estate portfolio, this is the deal you’ve been waiting for.  For qualified buyers, Price & Company Realty might even cover some of your travel expenses. Ask for details!

Where do old New York City subway cars go to retire?

(No, this isn’t the start of a bad joke.)

The New York City Transit Authority has donated 41 subway cars to help the environment here in South Carolina.

With their windows and doors removed, these subway cars make a surprisingly effective artificial reef about 25 miles offshore and will anchor corals, sponges, barnacles, algae and other organisms that are unable to colonize the sandy bottom of the ocean floor here.  This will, in turn, attract fish, crabs and shrimp, who will use the reef for shelter and even food.  This, in turn will attract larger species, and… well, you get the picture.

I’m sure there’s a good joke here about the New York subway and Myrtle Beach real estate… but I’ll leave it up to you for the punchline.

Thanks to the Myrtle Beach Sun News for the picture.

Hard Rock Park, the first full-size theme park to open in the United States in a decade (and where else but Myrtle Beach?) announced a number of ways to get ticket discounts, including:

Family discounts:

• One-day tickets for families of four or more are $40 each.
• Two-day tickets are $50
• Seven-day tickets are $65

The Ch..Ch..Check it out! Guarantee
This must be a first in theme park guarantees. Check out Hard Rock Park for half an hour. Don’t like it? Return to Guest Services within 30 minutes and get your money back!

Locals Only:
Through the end of June, residents of North and South Carolina can buy one-day tickets for $39 with proof of residency.

Advance online tickets (at least two days prior) are now available for purchase online for $45.

All Hail Freedom!
Hard Rock Park salutes our active and retired military with $40 tickets.

Let’s Do It Again! And Again!
Season Passes are available for $150 each.