Holy Smoke.... I knew things were going to change,I just didn't think it would be this soon!! Great post by Mirela Monte and anyone considering buying an Oceanfornt condo should heed her words. The time to act will be now, not two or three months down the road!! Call me to find out what the most current deals are on Oceanfront Condos in both Myrtle Beach and North Myrtle Beach SC!!
In 2005 I told all my Investors to stop buying Oceanfront. I've always been able to see patterns in numbers. I didn't like what I saw, so I blew the whistle. I moved my investors on to other products like single family homes in the path of growth. We did well. The Clients who listened and sold, fared quite nicely. The ones who didn't, now wish they had...
I am now blowing another whistle: the BUY whistle. With prices at an all time low and inventory still ample, now is the time to start delving in. There are lots of things to consider and a careful analysis is mandatory. If you perform your due diligence and work with a top notch Oceanfront Buyer's Agent, you should do extremely well.
God does not create any more Beach... Today we just had another 260 foreclosure properties being auctioned off at the Courthouse. Those properties will soon be available as Bank Owned super deals... The interest rates are still at an all time low... The gloom and doom is depressing most consumers and clipping the wings off the novice Investors... To make money you always move against the grain...
I just pulled numbers on Oceanfront Condos in North Myrtle Beach. What I found made my hair stand up: 24% of the North Myrtle Beach Oceanfront condos are now "Pending Sale". 24%!!! Twenty-Four Percent!!! Compare that with the typical 2.5% activity per month and you start seeing what I'm seeing: 10 times the activity almost overnight! That's BIG! That's REALLY BIG!!!
You heard it here first!
(Why are you still here? Get on the phone with your Mortgage Broker!)