Dolphin Bay Resort: Cherry Grove, North Myrtle Beach, SC

Even in its earliest stages, the key draws to Cherry Grove's newly offered Dolphin Bay Resort are obvious: "location, location— and views." Offered just in time for the New Year, the luxurious condominium development has already proven to be popular among buyers and would-be homeowners.

Elliott Realty/GMAC Real Estate's broker in charge, Ernie Derrick, says that with ocean oriented property so limited, this property is unique.

"On the backside, you have views of the marsh and the channels of Cherry Grove, and on the ocean side, of course, you have the Atlantic Ocean," says Derrick. "There is no other area along the Grand Strand that can offer these wonderful panoramic views."

Located on the second row, each of Dolphin Bay's 72 homes will have unobstructed ocean vistas. Each home has its own balcony, and residences will begin on the sixth floor of the 14-story, Art Deco–style building to allow optimal views. It will include 36 two-bedroom, two-bath units, as well as 36 three-bedroom, threebath units.

With prices starting at $399,900 for the two-bedroom and $499,900 for three-bedroom, realtor Glori Marion says buyers are finding the prices very attractive.

"It's a great value," says Glori. "It's a unique style to the area structure-wise, and the square footage available for each unit means the price point is very good."

The two-bedroom homes will each have almost 1,200 square feet, while the three-bedrooms vary between 1,350 for interior units and 1,480 for corner units. Building amenities include a heated glass-enclosed pool with a hot tub, an exercise and fitness center, as well as a game room.

Construction is set to start this summer to allow buyers to move in by spring of 2008. "This project is ideally situated for those individuals desiring a second home or rental property along the Grand Strand of Myrtle Beach," says Derrick. He also points out that preconstruction discounts are being offered for the first 36 buyers.