This Saturday morning the much anticipated 'property auction' was held in Myrtle Beach. We had been inundated with advertising for weeks inferring that this was the trend for selling your property. Many future Buyers were holding off looking at anything until they could get to the auction and find the 'deal of the century.' It didn't happen.
A few hundred people showed up - mostly out of curiosity. Once the opening bid for each property was stated, the excitement diminished. Buyer's walked away realizing that most Sellers are not going to give their property away.
The Sun News reported that the "real estate auction Saturday morning at the Myrtle Beach Marriott Resort at Grande Dunes had plenty of ammunition for those who want to say the Myrtle Beach housing market is in the tank. Only a few of the 50 properties offered had final bids above what the auctioneer sought as opening bids, a number were withdrawn because they had no bids at all and others likely won't make it to the closing table."
This can only be good news for the market here in Myrtle Beach. This is the second time that the results were anything but stellar. Even the promoter of the auction, Joe Exum, stated: "I think the good that happened is that our sellers saw what the market perception of value is now."
Hopefully, the media pundits will take note and realize that there is still a viable market out there and not everyone is selling because they are on the verge of bankruptcy. Now if those Buyers would just call me, I am certain I could find the perfect property for them at the price they are willing to pay.
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