Located on the Grand Strand, Myrtle Beach has a population of about 28,600 people and is a well-known tourist destination. People started moving to Myrtle Beach, South Carolina, as a permanent residence in the early 1900s after it became popular as a vacation spot in the late 1800s. It has become a popular destination for millions of visitors because of its beaches, golf courses, shopping, entertainment, and other attractions.
Knowing this, those in the know have invested in real estate and will continue to do so since they know that there is only one ocean on the east coast. The majority of people in the Myrtle Beach area who inquire about foreclosed homes and condos assume there are tons of options.
A few people don’t believe me when I tell them that foreclosures are few and far between in today’s real estate market. According to CCAR, there were only 270 foreclosures among the 5,503 Myrtle Beach single-family homes for sale and 4,718 condos and townhouses for sale, out of which 5,503 were in the condo/townhouse category.
The purchase of distressed property has become more difficult and that difficulty may be worse around Myrtle Beach because of the large number of foreclosed properties that are second homes or vacation homes. The potential buyer is unaware of this. Because only 15% of short sales are ever completed and closed, short sales have always been a concern, but foreclosure purchases have been relatively simple until recently.
A few days after the mortgage lenders yanked their listings, they relisted some houses, but the days of an easy transaction seem to have passed. A prime example of this occurred only a few weeks ago when the closing attorney received a call from the lender saying they were removing the property from the foreclosure process and it could not be sold on the day it was scheduled to close.
The Right Home
The Myrtle Beach region is well-known for its high-quality residences and laid-back lifestyle, which is woven into the fabric of the community. What could be more peaceful than having miles of beautiful beaches and golf courses winding through the community? There is a slew of magnificent beachfront condo buildings in Myrtle Beach, many of which have top-notch facilities and breathtaking ocean views that are virtually difficult to put into words.
Myrtle Beach, South Carolina, is one of those places that must be experienced to be fully appreciated. This is particularly true of several of the houses in this neighborhood. In terms of both size and luxury, some of the homes are truly mind-boggling. There are so many things to do in the north myrtle beach oceanfront condos for sale area that it can be difficult to know where to begin.
With so many exciting activities at your fingertips, there’s never a dull moment in Ocean City. Try your hand at golfing at one of the area’s top-rated golf courses, go swimming or surfing, go fishing, or take a stroll down the world-famous boardwalk! Myrtle Beach’s dream houses are closer than one may expect. Many of the properties have easy access to the beach and fantastic social activities.