It is hard to believe that summer is over and we are approaching the last quarter of 2014. As usual, I have been doing my homework on the local real estate market and I want to share with you a few thoughts based on some information that I have uncovered.
In the past, foreclosures represented a large portion of all the sales that closed. Then, foreclosures started to decline and short sales took the place of foreclosures and began to represent a large portion of all sales in Myrtle Beach. The good news is that there has been a significant decrease in foreclosures and short sale listings.
I’ve had so many property owners asking me how the market is doing now. Of course, I am positive about it, because we have seen some improvement in most areas - yet the improvement seems to be very minor. Most property owners, myself included, anticipated it to be much better by now. This inspired me to dig deeper into the market statistics to identify what is really going on in the Myrtle Beach area.
I do not want this email to be too long so I included some important information about the market that I feel you will find to be very important. You can access it by clicking the link below. I am discussing the impact that new construction and higher interest rates could have on our market, and how they can affect your property's value.
As we approach fall, people start asking if it is still a good time to sell. It is important to understand that our real estate market remains active all year long. The seasons may change yet the activity changes very little. Of course, we will not be selling as much to vacationers in the fall, but the golfers and retirees will take their place. Different seasons bring different buyers. It is false to believe the market is dead in the fall and winter. Interestingly, inventory levels will be lower and that often allows us to get a better price.
The market is good right now. It appears to be a "normal" market, where the supply and demand curve seems to be balanced. We won’t likely see huge appreciation anytime soon nor will we likely see any massive declines.
We will likely have a very strong fall selling season this year. We already have buyer appointments set for the next 3 months with those that are coming down to the Myrtle Beach area.
I hope you found this information useful. I am sure you have CPA, a Doctor and an Attorney...I would like for Century 21 The Harrelson Group to be your real estate agency.
Please let us know how we can help you, and thank you for allowing me to be your Myrtle Beach Real Estate Resource.
Have a great month!