Have you been waiting for the best time to purchase an oceanfront home in the Myrtle Beach area? Are you concerned that oceanfront homes may be out of your price range? Now is the time to shop for an oceanfront home, especially now that Summer is past us. Our rental season in the Myrtle Beach area runs from Memorial Day to Labor Day every year. Add to that the fact the holidays are around the corner, the economy is struggling and interest rates are at an all time low. It will be beneficial to you to make that offer now. We are finding sellers that are desperate, whether the property is a bank-owned foreclosure, a short sale or maybe someone that owns the property out right, and doesn’t want to bother with the upkeep through the off season.
Last Saturday we were out in the field with a client searching for an oceanfront home on Garden City Beach. To our surprise, we found a few options that our client could purchase between 700-900K in great shape and ready to move in. Those are outrageous prices compared to 5 years ago, at near 1/3 of the value of the peak. Many jumbo loan programs have also been coming back, offering options to those that are searching for a luxury or oceanfront homes in the Myrtle Beach area. Interest rates are still at an all time low, and the market is expected to pick up early 2012 right before Spring.
If you are searching for an oceanfront home at a discount, call us at 843-267-4627. You may never see the properties at the beach at this low of a price again. Some of these homes are doing 60 to 70 thousand dollars a year in rentals, and you can still use the property in the off season. Buy your oceanfront home now, and let the 14 million tourist that visit Myrtle Beach every year pay for it.
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