The tourism and economy outlook in the Myrtle Beach area is very positive. This reports comes from traffic at the Myrtle Beach International Airport and “Accommodations Tax” for the Myrtle Beach area raising more money that before the recession. We have a long road to travel to see the real estate prices in the Myrtle Beach area rise to pre-recession levels however.
The new homes sales in several of the Myrtle Beach neighborhoods have been increasing as well as a decrease in the amount of time to process short sales. In Emmen’s Preserve, Lennar sold 12 new homes in September. DR Horton has also sold 14 new homes in Highland at Wither’s Preserve since May of 2011. Investors are starting to purchase the oceanfront condos again with a hope for cash flow and appreciation in the long-term. Just this week, we had 5 investors contact Beach Realty Group in search of multiple properties in the Myrtle Beach area. A few of those investors are purchasing the rental properties sight unseen.
We strongly believe that the winter of 2011 is the best time to purchase a home or condo in Myrtle Beach. All indicators show that prices are at the bottom, and now is the best time if you plan on investing in a property in the Myrtle Beach area. For more information on opportunities call us at 843-267-4627
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