About a year ago is when the term ‘short sale’ starting showing up here in Myrtle Beach. It has become more and more prevalent to hear about short sales, but now we are starting to here more about foreclosures coming on the market as well. I wouldn’t say that Myrtle Beach is getting overrun by short sales or foreclosures, but this does show that the market has changed for us, and we are experiencing some of what other parts of the US are experiencing.
We are still a market that is moving, in fact when most people consider moving here or buying a retirement, second, or vacation home in our area they have already went through the ‘what if’s’. Where we are getting hit the hardest is in some communities where there were a high number of investors purchasing a few years ago. Maybe there was a thought about a quick and easy flip, but after the market shifted, it seems that some investors felt it might be easier to just walk away. With this happening at an increasing level, the market has definitely shifted and made it a unique situation for our market in real estate. More agents have to go out and get creative with their marketing in order to spark interest among Buyers. By keeping a positive attitude and motivation to work hard, the market just may turn around sooner than later.
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