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One Bedroom Condos

One type of Real Estate investment that has become much more popular is one bedroom condos. In the Grand Strand area there are currently 606 one bedroom condos listed with an average price of $104,249. Out of those 606, 418 of them are Myrtle Beach condos for sale. With the economy down, many vacationers have kept it cheap and simple by purchasing little one bedroom condos that they can escape to for short vacations or weekends. These condos also have been very easy to rent out through rental programs. Many of these condos are located in beautiful complexes with pools, lazy rivers, Jacuzzis, tiki bars and more. To own a place in the beautiful grand strand you don’t always have to go big, keep it small and simple.

Surfside Beach Real Estate

Surfside Beach has grown a lot over the recent years in population as well as popularity. Surfside Beach is known as the “Family Beach” and you will see a lot more cozy houses and condos rather than high rise hotels. This environment has made Surfside Beach Real Estate become a hot commodity. Another aspect that people seem to love about Surfside is the lack of traffic. Driving on 17 in Myrtle Beach can be a nightmare but Surfside (other than Glens Bay) is not know for much traffic. So if your interested in purchasing a house or condo in a beautiful laid back community, Surfside Beach is the place for you!

Myrtle Beach Homes For Sale vs North Myrtle Beach Homes For Sale

When comparing North Myrtle Beach homes for Sale to Myrtle Beach homes for sale many look at the amount of condos vs. residential homes, foreclosures, short sales and average price. North Myrtle Beach accounts for 1,180 active condo/townhomes and 455 residential homes for sales. Myrtle Beach has 2,467 active condo/townhomes for sale and 1,690 residential homes on the market. The average price for a condo/townhome in North Myrtle is $261,771 and the average price for a residential home is $412,705 ranging from $24,900 to $2,795,000. The average condo/townhome in Myrtle Beach is $166,300 and the average residential house is $326,398 ranging from $16,750 to $6,490,000. North Myrtle may have less listing but the prices are above those in Myrtle. Out of all the condo/townhomes and residential listings in Myrtle Beach, only 4 % are foreclosures and in North Myrtle Beach, there are only 2.3% foreclosures.

North Myrtle Beach Foreclosure Statistics

There are 811 active foreclosures in Horry County. 77 of those are in North Myrtle Beach, 359 are in Myrtle Beach, 25 are in Surfside Beach, 5 in Garden City, and 55 in Murrells Inlet. North Myrtle Beach has in the past received a reputation to have a plentiful amount of foreclosures but as the market improves the foreclosure have dropped. North Myrtle only accounts for 9% of the foreclosures in Horry County compared to Myrtle Beach which accounts for 44%. Foreclosures are known to hurt neighborhood values and overall prices but the decrease in the amount of foreclosures in North Myrtle Beach is a positive signs for current or futures property owners!

North Myrtle Beach Homes

As of August 10, 2010 there are 1,675 North Myrtle Beach homes for sale. Out of those 1,675 listings, 455 are residential houses, 1,181 are condos/townhomes, and 39 are multifamily. North Myrtle Beach is definitely more of a high-rise condo town compared to residential houses. Many have found great oceanfront condos for a fraction of the price that they used to be. One thing that hasn’t changed is the beautiful beach in North Myrtle and all the attractions. If anything North Myrtle is adding even more fun activities such as the brand new Pirates Voyage Fun, Feast and Adventure. North Myrtle might not have the brand name the Myrtle Beach has, but this growing town has become very popular and may sooner than later be just as popular as Myrtle.

Myrtle Beach Vacations

Many get ready to book their August vacations and head to the beautiful paradise known as Myrtle Beach. Myrtle Beach, SC has been a vacation favorite for along time and is always ranked as one of the top beaches and vacation destinations. With the market prices low, many have considered to buy Real Estate in Myrtle Beach. Many have had the game plan of buying a vacation home, link up with a vacation rental program, and rent their new investment out for the summer months. The beauty of this is you can block off weeks for your own vacation and for friends and family. Many have their mortgage paid for just with rentals. Prices may be down but Myrtle is still booming with tourists and Myrtle Lovers.

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

South Myrtle Beach Area

Myrtle Beach is the brand name of the Grand Strand and many people also think of North Myrtle Beach when they hear “Myrtle Beach”. The homes for sale in North Myrtle Beach and Myrtle Beach are nice but very congested and crowded with tourist. The south Myrtle Beach homes for sale may be the best place to purchase. The south Myrtle Beach area consists of Surfside Beach, Garden City, Murrells Inlet, and Pawleys Island. This area is growing in popularity and the more quiet, pristine beaches have been a fan favorite.