The number and prices of Grand Strand homes continued to fall from last years levels, according to data from the local Multiple Listing Service. 169 single family homes sold in January, down 28 percent from the same time last year. Condo sales fell 31 percent to 109 units sold. The median selling price was $185,000 for single family homes and $150,000 for condos, down 12 percent and 11 percent respectively. The amount of inventory on the market shrunk from 14,150 to 13,109.

With spring approaching, more Myrtle Beach Realtors are seeing arise in the amount of potential customers coming to the Myrtle Beach area in search of beach property. Up and down the Strand more customers are shopping for property to take advantage of the low prices created by the housing slump and foreclosures in Myrtle Beach. Selling prices of single family homes sold through the local Multiple Listing Service in December were down about 15 percent year over year to $179,000 and condo prices were down 11 percent to $140,750. Customers are seeing the value of the great deals to be had. The down side is credit is still difficult to be obtained. Money will need to be freed up to see true l...

With more and more homes being sold in the Myrtle Beach real estate market under the banner of a Myrtle Beach short sale its becoming more important that all sellers of none primary loans be aware of the risk of capital gains. If a sellers home is sold on the short sell market and it is not the primary residence of the seller the lender can and often does issue a 1099 tax form for the remainder of the original loan. This goes under capital gains taxes and the seller will owe taxes on the amount. The lender sends these out to show a loss on the property but a gain for you. For example, if you had a loan for the original amount of $500,000.00 and you were force to sell short sell for a numb...

Registration has been opened for the 26th annual North Myrtle Beach Winter Run, which is to start at 9 a.m. Saturday on Main Street at Ocean Boulevard. Registrations forms can be obtained at the J. Bryan Floyd Community Center or you can register online at http://www.rmssports.com/. This annual event is expected to draw hundreds of participants and with the forecast for tempertures to be mild there could be a record crowd.

The obvious number one advantage to buying a short sale or foreclosed property is price. In most cases you will be getting a property far below fair market values. This is great for those who have wanted a retirement home or vacation home in the Myrtle Beach area but unable to afford the higher prices. The down side in buying Myrtle Beach foreclosures is that you will be limited to the location of the property and its property values in the future. Remember, your short sale or foreclosed property purchase just lowered the property values in the entire neighborhood. Also remember if you decide to sell in the future when prices increase to move to a different area, the price of market value...

In today's Myrtle Beach real estate market the term short sales is being used more and more for the purchase of property in the Myrtle Beach area. So what are Myrtle Beach short sales? Basically it's a bank or mortgage company allowing a property, that they have lent money to be purchased, to be sold at or below the loan amount given to purchase the property. These short sales have had a tremendous impact on the national real estate market by lowering the appreciation values on existing and pre-constructed homes. Depending on the loan institution, the company can except offers up to 70% of the loan amount. The short sales come from people that are not necessarily unable to pay for there p...