October 2014 Myrtle Beach Real Estate Market

Myrtle Beach In the Fall

We can tell the Fall Season is here because it is getting into the low 60’s during the night and only 72 degrees as our daily high today. This is actually a fantastic time to live in our area due to the moderate temperatures we deal with this time of year.

A few months ago, I mentioned that some of you would be receiving a notice that your property taxes were increasing. I know the letters have been mailed because we have been helping many of you with updated activity reports so you can appeal your tax value.

Please let me know if you have any questions or need assistance with your property taxes.

This time of year, I typically set up multiple appointments with local banks and lenders to see how they view the real estate market. Many of them mentioned how busy they have been. Of course, I asked them a lot of questions and they shared the following reasons why they feel the market is so active.

1) There are a lot of "Boomerang Buyers" looking to enter back in the market. These are buyers that did a short- sale in the past 2 years and are now qualified to buy again. These buyers are tired of renting and want back into home ownership while the interest rates are so low.

2) There are new mortgage products available for marginal buyers to borrow again. Now that the banks are in a better financial position, they are loosening their standards for those who qualify for a loan.

3) A lot of buyers are concerned that interest rates are about to rise and they want to make their investments now before the "cost of money" increases and they cannot afford the property they want.

It is nice to be able to report that our real estate market remains very active. One thing that I have noticed is that there are some properties that seem to sell within 30 days or less and others that tend to sit on the market for over 6 months.

I personally believe we are going to have a solid Fall Selling Season. Selling properties is not easy today but with hard work and the right marketing strategy, it can be done.

Thank you for allowing us to be your local real estate resource. Let us know how we can better serve you or anyone else you know that may need our services.

~Greg Harrelson