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Pawleys Island

A town that is sometimes considered South Myrtle Beach is Pawleys Island. Pawleys Island, South Carolina is located 70 miles north of Charleston and 25 miles south of Myrtle Beach, is known as one of the oldest summer resorts on the East Coast.

The families of rice planters who owned plantations on the nearby rivers first settled Pawleys Island in the early 1700’s. The planters knew that it was unhealthy for their families to remain on the rivers during the summer and that the seashore was much healthier. Even though they didn’t know about malaria in the 1700’s, they knew enough to get away! They moved their families, horses, cows, bedding, provisions and furniture to Pawleys in May of each year, where they remained until the first frost in November!

From this leisurely existence has developed the charm of Pawleys that still remains. Also still remaining are 12 residences in the historic district, which date from the late 1700’s to the mid 1800’s. Pawleys continues to be known for its shoeless, carefree, laid-back life style, which includes crabbing in the adjacent creeks, fishing, the stories of ghosts, the rope hammocks and the unspoiled, unsophisticated, casual, delightful stretch of wide beach and sand dunes.

So if your interested in South Myrtle Beach Real Estate, don’t forget about Pawleys Island.

Source- http://www.townofpawleysisland.com/

Short Sales

A homeowner losing a home to foreclosure may be a very painful experience. A foreclosure can affect a person’s credit history and become a problem if they ever want to borrow money to own something again in the future. Most foreclosures tend to be the result from owner/owners losing their job, illness, divorce, accidents, and many other factors.

A foreclosure is the result of a lender taking the borrower’s house after they can no longer make mortgage payments. There are many types of foreclosure with the two most widely types being a judicial sale and a power of sale. A foreclosure by judicial sale is the sale of the property under order of a court. A foreclosure by power of sale is the process that involves the sale of the home without the court’s involvement

The mortgage lender and borrow can avoid foreclosure by attempting a negotiated sale of the property called a short sale. A short sale is a type of real estate sale where the homeowner can try and sell the property for less then the amount owed on the loan balance to avoid foreclosure. This type of sale requires approval from the bank or lender. The bank will consider this type of sale only if the sale cost will result in fewer costs than the home going into foreclosure. If the home goes into foreclosure, the bank acquires costs with the loss on the loan, plus the costs that accompany the vacant foreclosed home.

Myrtle Beach Short sales have many benefits and can be very profitable for a homebuyer. A potential buyer can negotiate a sale on a home for less than what the home is worth. The sale of the home must first be approved by all three parties; the bank, the homeowner, and homebuyer.

Credit and Source- http://www.shortsales.net/shortsales/short_sale_vs_foreclosure.html

North Myrtle Beach vs Myrtle Beach

Many wonder the difference between North Myrtle Beach Real Estate and Myrtle Beach Real Estate. Here are some statistics in real estate to compare the two. For North Myrtle Beach, there are 1,476 active listings (Residential houses, Condos, townhomes), with a range from $27,900 to $2,800,000 and an average price of $313,581. Myrtle Beach has 3,436 active listings (Residential houses, Condos, townhomes), with a range from $14,900 to $6,900 and an average price of $244,565.

Myrtle Beach currently has more active listings but North Myrtle Beach Real Estate appears to be a bit higher in price. Both have many attractions and make a fantastic vacation or place to live

Homes vs Condos in Myrtle Beach

As of May 2011, there are 4,016 active detached residential Myrtle Beach homes for sale. This incorporates all towns in the Myrtle Beach metro area. Since the start of 2011, 1,087 residential homes have been sold. The average sale price was $225,596 and the range was from $950 to $2,300,000. Surprisingly the amount of condominiums for sale as of May 2011 is extremely close to residential homes. Currently there are 4,008 condos for sale in the Myrtle Beach metro area and since January 1st, 1,129 condos have been sold with an average price of $135,517. Many think of the Myrtle Beach area as being high rise condos but as you can see the amount of residential houses is virtually the same as the amount of condos for sale and sold.