Myrtle Beach Area Foreclosure Deal of the Week
This Condo Complex is called A Place at the Beach II. The Building is Direct Oceanfront which provides such an Ease of Access to and from the Beach. Not having to cross the busy main drag "Ocean Blvd." makes for a Big Plus when deciding which Myrtle Beach Condo you choose throughout the Grand Strand.
This 2Br/2Ba Oceanview Condo is Currently Listed for $88,800! That's an Amazing price considering the Building sits directly on the Sand. It was Originally Listed for $199,900 back in June of 2008 as a Potential Short Sale and has changed Listing Agents 3 Times . It's no longer a Short Sale and has become a Foreclosure Listing, plus now that it has fallen into the Highly experienced and capable hands of a wonderful local CCAR Agent, I'm sure it will Sale in no time Flat.. Especially since the Price has Dropped a Whopping 55%
There are currently only two Active Listings, including this Foreclosure Listing with no Pending sales at all.The other active Listing was fresh on the Market 1/14/2010 and is an identical 2Br/2Ba Condo Priced at $119,900.
The Sold comparables for the past 90 days show no activity
at this Complex. Looking back
further,120 days, I found only One SOLD
Comp which was a similar unit: 2Br/2Ba Oceanfront that Sold for CASH at
Looking at these Statistics, it's plan to see that this Myrtle Beach Area Foreclosure Listings is a Great Bargin! It's current listing price is 23% below the most recent SOLD Comparable. If you're thinking of this Condo as a potential Investment, Average Gross Rental Income for these units is about $10,232 per Year over the past 3 yrs. Thier HOA fees run a tad high at $480 per Mo. but DO include Building Insurance along with Water/Sewer.
Consider that this Myrtle Beach Area Foreclosure Listing has been on the Market since August 2009 and has been reduced 3 times since. It's been at it's Current price since November 2009 and hasn't dropped a dime so far. The Bank has got to be getting antsy and following thier previous pattern, should be up for another drop in price. Maybe all thier waiting for, is for YOU to make an offer.