Myrtle Beach Real Estate: Are we still saying the F-word?

By
Real Estate Agent with Condolux Real Estate & Vacation Rentals

ForeclosuresIs now the time to buy in Myrtle Beach? What about two weeks ago? What about next month?    When IS the right time to buy?  When are we going to stop saying the "F-word"?

It depends.

There has been a sales burst recently in Myrtle Beach.  Will it continue? Who knows.  But there are some excellent deals being made right now in the Myrtle Beach real estate market. Deals that probably won't come around again for quite some time. (Talking decades here.)   Think about it. The sellers really want OUT. They keep lowering their prices and taking less and less for their condo or home. Of course, this isn't always the case, but keep in mind, desperate times call for desperate measures.  And Myrtle Beach has some motivated sellers, especially when we are talking about oceanfront condo short sales or foreclosures.

Oh, no, I said the "f-word". FORECLOSURES.  As common as they are, there is still a piece inside of me that cringes when I hear that word (or short sales) for that matter. The downturn in the economy has seen plenty of foreclosures at Myrtle Beach real estate economy. Many of the owners of properties are unable to keep with their mortgage payments. Some timeshares have also collapsed due to a paucity of occupiers even in the prime vacation rental time. However this is also the best time to beat the prevalent price hike and own a piece of paradise with the real estate commonly known as the Grand Stand. And maybe Myrtle Beach foreclosures are just the way to do it.

Many planned their finances based on the continuing economic growth, little realizing that their financial commitments and planning may be skewered by events beyond their control. (Ehrm, we're talking the economy here.) Then they had little option but to think about reducing their burden and cutting their losses. This has put a large number of properties on the block in Myrtle Beach. Well, actually, anywhere for that matter.

With the seller being squeezed for time, and the buyer aware of this disparity on the part of the seller, this is one of the rare transactions, which aims to go on smoothly in all cases.

Even with Myrtle Beach real estate, such form of buying and selling as foreclosure are common. As a new buyer or the new incumbent, that you can generally get whatever sort of requirement you might have, be it a house, condo or whatever!

The simple bottom line is that we do NOT know what the economy will bring. We can see where it might be headed in the near future, but we just need to be sure we are ready for anything. Foreclosure or no foreclosure, it's time

Comments (1)

Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"

Now is the best time to have extra cash...there are so many deals out there... and at the beach no less...

Jun 11, 2009 02:03 PM