Myrtle Beach Condos–Beware Developer Closeout Inventory
You've probably seen real estate ads for Myrtle Beach condos and "developer closeout inventory" touting "best deals" and prices "better than foreclosures." WARNING: That is often not the case. Yes, it's true, developers have slashed their prices, in...
Myrtle Beach Real Estate: Condos & Townhouses Priced under $40,000
Yesterday I stumbled on a two-bedroom, one-and-a-half-bath townhouse-style condo, with a fireplace, listed for sale for under $39,000. It's an awesome deal. Two similar units just sold for $51,000 and $54,000. And the lowest priced competing active listing is priced...
South Carolina Real Estate Foreclosures: Common Questions
South Carolina Real Estate Foreclosures: Answers to frequently asked questions. What is a lis pendens? Latin meaning “suit pending;” a document alerting anyone who checks the property's title that a lawsuit has been filed. What is a Master-in-Equity?...
Myrtle Beach Real Estate: Teetering on Recovery?
You may have heard these rumblings recently: 'We're still going to see declining prices.' But I'm not convinced. Yes, it's true, local foreclosure filings jumped, reportedly 46% in the first half of 2012 compared to last year. So that's the bad news. But...
Is Myrtle Beach Real Estate Ready for a Rebound?
5 Key Indicators Measure the Myrtle Beach Real Estate Market By Kay Van Hoesen, Posted July 8, 2012 You can't miss all the national news about increasing real estate prices. Last month, the S&P Case Shiller housing index reported an overall upward trend for...
North Myrtle Beach Fishermen: Shark’s Location Pinpointed
By now you've probably seen the viral YouTube video (below) of the girl in North Myrtle Beach, SC, stunned when a shark suddenly pierced through the water and stole her catch. She's fishing off a dock in Cherry Grove Inlet (CBS news story). If you're wondering...
Pricing Trends as of May 31, 2012
As illustrated in the graphs below, among both condos and single family homes, prices under $450K have more or less been stable or increasing over the last year. Median prices over $450K have not shown the same stability. Related Posts: Number of Properties Sold:...
Number of Properties Sold: May 31, 2012
As illustrated in the table below, among both single family and condominiums, the number of properties sold in May 2012 increased significantly compared to the same month last year. Condo sales are up 12%. Single family sales are up 17%. Related Posts: Pricing...
May 31: Year-to-Year Sales vs. Listings & Supply-Demand Indicators
As evidenced by the following graphs and stats, the gap between available inventory and sales has been closing. In 2009, only 35% of condo listings were sold compared to 72% today. Likewise, the ratio of sales-to-listings for single family has vastly improved. In...
Pricing Trends as of April 30, 2012
As illustrated in the graphs below, median single family prices under $300K have been stable the last year. Median single family prices between $300K and $450K have been stable the last six months. Condos in the $150K to $300K price range have been stable the...