Myrtle Beach Real Estate

When summer ended, several sellers were faced with a dilemma. “Do I keep my property on the market possibly through the winter or do I rent the property out until the market turns around”. My listing inventory dropped nearly 20% in the past several weeks from people making the decision to lease the property until next Spring. Carolina Forest Real Estate is being affected more than several areas around Myrtle Beach, because many investors bought new homes in a flipping frenzy. Add these investors to the investors that bought with an intention of renting and you have a major surplus of inventory to lease. Not only have the values of the homes come down, but now we are seeing the rental incomes come down as well, while these investors lower the prices in order to secure a tenant. Many areas of Myrtle Beach are not suffering as much as Carolina Forest with rentals, because the properties have been around longer and hasn’t had as much of the pre construction investor occur. I personally feel that if the sales market doesn’t turn around soon, we will witness several foreclosures in the Carolina Forest Area. People tend to walk away from their second homes and investment homes before their primary homes. Therefore, we will witness several bank owned properties in the Carolina Forest Area soon. The market most likely will turn around in a few years, but it simply has to correct itself first. I think that we will never again witness the boom of the new home construction that we witnessed over the past 3 years. Several local new home builders are witnessing the same market affects as the national builders. Spec homes have been built at an unprecedented rate and are not selling. Some of these homes are not very easy to rent. Myrtle Beach does not support the need of executive rentals. It will be interesting to see what the Winter of 2007 brings, but let me make one thing clear. Don’t reject any offers on your properties. It may not be what you are looking for, but you can always counter-offer in an attempt to bring the buyer back to reality.

Today I read in “The Sun News” about the auction of nearly 50 properties that took place at the Myrtle Beach Marriott Resort at Grande Dunes. There was not much bidding going on with these properties and very few sold for more than the opening bid price. This auction has been expected for weeks and of course I was hearing information that conflicted with the final results. For weeks the word was that these properties would bring great sales prices compared to market value. I guess the idea was that investors and shoppers would get caught up in the heat of the auction and bump the prices a lot. From what I am reading, none of the properties resulted in price battling. A few hundred attending the auction, but very few bid on properties. The company, “Coastal Auction Company” will hold another auction October 27, 2007, and will concentrate on South End properties from Murrells Inlet to Georgetown. Several properties in the Grande Dunes never receive bids.

Here is a great home near the Golden Mile at 6204 Sancindy Lane. This home is located on a double lot off of 62nd Avenue North which is centrally located to hospitals, shopping, Schools and golf. There is a nice pond in the rear of the property. This home has an enormous sunken entertainment room and a very nicely situated mother-in-law suite. You really can’t find a better location for the money; close to the Grand Dunes and not far from Pinelakes Country Club. Take a look and then decide that this is where you would like to be.

Lake ShoreLake Shore
Asking $389,000

Lane6204 Sancindy Lane

Absolutely immaculate home in much sought after Waterford Plantation. Great curb appeal with extra large side loading garage, great bonus room with extra storage, very large

4711 Harvest Drive is my latest listing and wow what a gem. This home is in absolutely great showing condition and has lots of very nice features. This gorgeous home has great curb appeal with an extra large side loading garage, great bonus room with extra storage, a very large master suite, screened porch and many other upgrades. This home is truly a must see and I will be doing an open house there on September 23, 2007.

Waterford Plantation - CF
Asking $314,900
4711 Harvest Drive

2768 Coopers Court in “The Farm” is an exceptional buy and in like new condition back to natural preserve with a large lot. This home truly is a must see and in great condition. The Farm at Carolina Forest offers great amenities including 2 swimming pools, children’s playground, community clubhouse, fitness center, bike paths and public garden. This Sullivan B is a great open floor plan in immaculate shape and reduced for quick sale.

The Farm - Carolina Fores
Asking $224,900
2768 Coopers Court

4704 Bluewater Lane in Waterford Plantation is a great place to call home. If you are not familiar with Waterford Plantation, you need to take a look at this beautiful Custom Built Neighborhood. This home rests on the Greenway in Waterford Plantation which is large grass field in between homes. The home itself has several upgrades and is in immaculate condition. You have granite counter-tops in the kitchen and master bathrooms, beautiful faux painting, stunning hardwood floors, tile, and installed California Style Closets. This home is a must see and if you are interested in seeing it, I will be doing and open house there on September 16, 2007.

 
Waterford Plantation - CF
Asking $275,000
4704 Bluewater Lane

5178 Alwoodley Lane in The Legends Resort is a great piece of property with fantastic Lake Views and close to the brand new amenities center.  Centrally located off of Highway 501 in Myrtle Beach, “The Legends” is a great place to build your next home. There are three award winning golf courses, 2 restaurants, brand new resident’s club, 30 acre practice range and much more. Bring your own builder for this great location. There will be around 323 custom homes in this beautiful development when it is all complete. Take a look at the listing below and if you have any questions please contact me.

Legends
Asking $144,900
5178 Alwoodley Lane