Myrtle Beach Real Estate by Mirela Monte

Yes, you heard it right. A nice little "efficiency" (studio) was sold in November at Baywatch Resort, a lovely Oceanfront Three Tower Complex, only 3-4 years old, with plenty of amenities like lazy rivers, indoor, outdoor pools, gym, Jacuzzis, saunas, the works. The condo may not have been in the best condition, it may not have had the best views, but the bottom line is: it makes $ 15,000 a year and it's right on the sand. Did I mention that it sold for $ 69,000?

Since October 1, 2007 until now, January 29, 2008, only 50 oceanfront condos have been sold in North Myrtle Beach, out of 637 similar listings. That is only 7.85% of inventory sold for the entire 4 months, or a meager 1.96% per month.

If you are a Seller of Oceanfront property, that is very bad news. If you are a Buyer, that is GREAT news indeed! The cheapest efficiency unit available at Baywatch right now is priced at $ 111,000. You are going to say: "Why is the efficiency priced at $ 111,000, when another one like it sold for $ 69,000?" EXACTLY !!!

This is where you come in and make the offer, and then keep making offers until you get what you want, at the deeply discounted price the market commands. Maybe that $ 69,000 was the smallest efficiency in horrible shape and located right under the air handlers. OK. So what's stopping you from making an offer of $ 75,000 on that $ 111,000 unit? We have the comps to justify your offer, so why not try to secure yourself a good buy right now, when the going is so good. The same efficiency units at Baywatch you could now have for such a low price were selling for up to $ 230,000 in 2005 !!!

Even if the market will stay in the toilet, it's a no brainer: invest $ 69K and make $ 15,000 per year. We all know that economic conditions are cyclical. The market will not always stay here... Don't forget: God does not create any more Beach...

Your Myrtle Beach Real Estate Connection, Mirela Monte

www.MyrtleBeachHomes.US

EXTRA... EXTRA... YOU GOT IT HERE FIRST...

If you've been waiting for just the right time to delve into the Real Estate market in Myrtle Beach, wait no more! With the myriad of choices, depressed prices, willing sellers and extra low interest rates, now is the time to start seriously hunting down those Real Estate Treasures.

I don't know about you, but we have been crazy busy in our Myrtle Beach Real Estate Market. Buyers who until now have been waiting for just the right time to jump in, have started to intensify their searches, raising their sleeves and delving into the ocean of opportunities this area currently confers.

Sellers are willing to look at all offers. Short sales, foreclosures, leases to own; you name it, we have it! There is something for everyone: the small and nervous investor, the first time buyer, the blemished credit buyer, the deal hunter. Don't wait till the media tells you to buy! Judging from what happened last time, it took the media at least six months to catch on to the true state of our market, and by then it was too late for many buyers, who grossly overpaid. I called it then, and I'm calling it now: buy now, buy plenty!

How about other markets? How is it in your market?

Your Myrtle Beach Real Estate Connection, Mirela Monte, GRI, ABR, BIC, NC & SC

http://www.myrtlebeachhomes.us/

I don't know about you, but this really gets to me: having to give my sellers the BAD NEWS! I shudder when the Seller says: "I bought it last year or the year before, and I really need to sell it now!" Ouch!

Upside down almost every time... bring a lot of money to closing or find other avenues to deal with the problem.

If I go easy on the Seller and let him push me into a higher listing price, I live to regret it every time, for if I am not aggressive enough now and get it sold, it will garner that much less a few months from now...

It's a tough job right now: convincing the Sellers to take a LOT less. I ask to present the offer directly to the Seller nowadays, for if the Seller's Agent is weak, there is no deal to be had. With so many choices currently available, the Buyer just makes another offer elsewhere. Yes, it's good for my Buyers, but somehow it doesn't feel like a Victory; the Seller is really getting beat up in this market...

I just hate it for my Sellers, but I did not create this market, and I glad that I am very good at navigating it! The better I am at my job - pricing the property correctly and marketing it aggressively - the less money my Sellers will lose.

Your Myrtle Beach Real Estate Connection, Mirela Monte

http://www.myrtlebeachhomes.us/

The media is disseminating such a dismal point of view of our current Real Estate market and a lot of agents are up at arms about it. What do you expect for 50 cents?

Journalists are not analysts. In the Myrtle Beach area it took them about six months to deduce the shift in our market. I caught on within two weeks of the shift, and I blew the whistle; my clients listened and shifted gears at that time and saved their fortunes.

In the midst of the change, the media kept portraying the market for what it no longer was, giving every small time investor who didn't have the benefit of my guidance, a cozy feeling to go ahead and pay those inflated prices of 2005. Oceanfront condos in Myrtle Beach that sold for $ 330,000 at that time are now going for $ 170,000!

The media is saying to rent, to wait, etc. Yes, right! The same gullible people who listened to the media in 2005 and lost their hard earned dollars by paying those inflated prices on Real Estate, and now losing it, will listen to the media again, I'm sure!

The savvy investors are out in full swing, picking up great properties for pennies on the dollar and applauding the media every step of the way. As long as the "herds" are moving the way the media dictates, it makes the savvy investors' buys that much better...

It's hard to be a pioneer and move in the opposite direction, but that is the only way to get ahead. We are crazy busy right now! My investors' appetites are insatiable, driven by a market ripe with extraordinary deals and enticing interest rates.

So what if the market falls even further? As long as you are buying on the downturn, you will do well. It's entertaining to watch "the experts" make predictions regarding our economy. The truth is: we are currently dealing within a World economy with forces, movements and intangibles never before encountered. Folks, we've never been here before; no one can possibly make the correct prediction, but everyone can speculate.... Once the market starts its upswing shift, it will be too late for a great buy; the Sellers read the papers too...

Happy Buying!

Your Myrtle Beach Real Estate Connection, Mirela Monte

http://www.myrtlebeachhomes.us/

We have a great gadget on our website, at http://www.myrtlebeachhomes.us/ that will help you determine the current value of your home.

Just click on the "Home Price Index", a tab located on the left side of the screen. It is very user friendly; just put in the name, address, zip code, etc. It will ask you when you purchased your property and for how much, then click submit, and voila: you will have instant gratification.

Although it is not quite as accurate as a Realtor evaluation, or an appraisal, it will at least give you a ball park figure. I checked some of my properties' values, and they were right on the money for the purpose of a refinance, although, with our stagnant market, in order to sell we would look at lower prices that the true value. It is a Buyers' market right now...

Your Myrtle Beach Real Estate Connection, Mirela Monte