Over the past few months I have received numerous calls from buyers interested in purchasing some sort of rental property here in Myrtle Beach, South Carolina. Usually after a few days of phone calls and and emails, I receive the ominous reply....
"We just don't think buying a rental property is a wise decision at this time."
What?!? Now is one of the best times to purchase Myrtle Beach Real Estate! Is my normal response. I then begin to share how prices have dropped here. For example, Sand Dunes III in Myrtle Beach has seen over 21% decrease is price! Listing prices are now lower than they were in 2004!!!
"But rentals have to be down due to the enconomy...nobody can afford a vacation!"
Well, you would think that, but did you know that for the forcasters predict there to be a 90%-99% occupancy rate on for lodging this week! That means vacationers are still visiting Myrtle Beach! In fact, our midweek occupancy rate is up over 8% from last year! Here are a few reasons why people have been attracted to visiting Myrtle Beach:
- Beautiful Weather- The past few weeks Myrtle Beach has seen a lot of sunny skies with warm temperatures in the upper 80's/low 90's
- New Attractions- This year Myrtle Beach opened up two wonderful new attractions with The Market Commons & Hard Rock Theme Park which was named one of the top 10 parks to visit this year!
- Location- Most of the people who visit Myrtle Beach are either from the Carolinas or Northeast. While in past years they may have visited Florida, the added fuel expense to drive another 8 hours each way may have deterred that. That is a savings of probably $300-$400!
- Appeal to the whole family- Myrtle Beach has something to offer to every age range of the family. There is Hard Rock Amusement Park, Golfing, Dinner Shows, Loads of Shopping, Thousands of wonderful restaurants, and of course, the beach!
So what are you waiting for? Now is the time to buy rental properties in Myrtle Beach, South Carolina. Contact me today to start your search for your piece of Myrtle Beach!
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Jeremy- Now is such a great time to buy real estate with a smart plan of action especially in vacation areas. There will always be people going on vacation, and in stressful times that is as it should be.