The real estate boom of the early 2000s has seen hundreds of small hotels disappear, only to be replaced by the grand resorts that are being built every day. Truthfully, very few hotels or motels can be found on the oceanfront in Myrtle Beach now. Fabulous resorts such as The Caribbean Resort, The Patricia Resort, The Anderson Ocean Club, Bay View Resort, and many other high-rises line the oceanfront now.
From the far north end in Little River, which borders North Carolina, to about 50 miles south in Garden City Beach, the Grand Strand offers thousands of condominiums to choose from. Price is, of course, a consideration - with oceanfront condos and Intracoastal Waterway condos usually the more expensive. If you're looking to buy a condo in Myrtle Beach that brings a rental income with it, you should probably search these types first. Having our agent’s expert advice can come in handy here. They have the knowledge to tell you which resorts have the best HOA fees, which resorts are popular amongst vacationers (who rent), and areas which will deliver the best Myrtle Beach experience.
Contact us for guidance before you make any decisions on condos of this type, as many resorts also have problems resulting from the number of foreclosures at present. Some that we recommend? Try Dunes Village, Anderson Ocean Club, and The Boardwalk in Myrtle Beach. In North Myrtle Beach we particularly like Baywatch Resort and Barefoot Resort on the Waterway.
Now, as never before, investing in Myrtle Beach condos and resort real estate may be one of the smartest moves for baby boomers or those that can afford to live or vacation here. This may be the last chance to take advantage of its low cost of living and low purchase prices before the market starts to rise again.
Myrtle Beach Real Estate has been more popular than ever in the last few years. With the Myrtle Beach Oceanfront condo explosion, there are many people who bought properties with arm loans and interest-only loans that are now adjusting to much higher interest rates.
Many buyers overestimated what the potential incomes would be and needed this projected income to support their purchase. As a result, many of these beach condos have gone to foreclosure or will sell these Beach Front Condos at substantial discounts.
Foreclosures in Myrtle Beach are increasing. However, this gives many buyers the opportunity to purchase Myrtle Beach Foreclosures and have a lot of equity. This time period won't last forever, as most of us have seen, Myrtle Beach Real Estate will eventually come back and prices will rise again.
If you are interested in Myrtle Beach Condos for Sale or investing in a Myrtle Beach Oceanfront vacation condo, call Jerry at 843-839-9870
Comments (0)Subscribe to CommentsComment