The Myrtle Beach area is currently in a buyer’s market. With prices stable to falling, now is a great time to consider purchasing condos in Myrtle Beach.

Known for its 120+ golf courses, many tourist attractions, and low cost of living, Myrtle Beach is a top US vacation destination and retirement location. For those from the north looking to vacation or relocate to Myrtle Beach SC, here are some comparisons that may help to sway your decision:

Look how $47,228 in Myrtle Beach has the equivalent buying power that $60,000 does in Baltimore:

Percentages represent Myrtle Beach’s basic necessities compared to the cities listed.

NYC

Baltimore

D.C.

Phila.

Groceries

Housing

Utilities

Transportation

Healthcare

*Data is provided by ACCRA for Myrtle Beach SC, Baltimore, MD, District of Columbia, Philadelphia and New York City.

Despite the real estate slump, rising unemployment, and foreclosures the overall US pending sales index, according to National Association of Realtors, is positive for the month of April. Not only positive but has increased by 6.3% from March to April; the largest gain in at least 12 months. Although positive for now, it is still 13.1% below April’s rates of last year. Reasoning for this could be caused by significant home price drops especially in places like California, Arizona, and Florida where in some cases prices have dropped by 40%, discounting by banks that have repossessed, and low interest rates. As far as the south, sales pending rates have risen by 4.6% from March to April but down by 22.5% from last year; the worst of the 4 regions. However, the running average for pending sales in the south over the past 3 months has remained stable.

Contact Condo-World about Myrtle Beach condos for sale and an analysis of the current market conditions. We also specialize in Myrtle Beach condo rentals, Myrtle Beach vacation rentals, and Myrtle Beach vacation packages.

If you are tired of seeing the rising prices of gas these days, consider switching careers so you can work from home. Many technology and real estate related jobs can mainly be done from home thanks to computers, cell phones and fax machines.

When you have found the perfect job that gives you that kind of flexibility, you will want to find a new home where you will enjoy spending all of your time. After all, wouldn't you rather look out your windows during the day and see a nice beach scene or river view rather than your neighbors broken down car. When it comes to Myrtle Beach real estate, the ball is in your court. Now is the time to buy while other people are looking to get out from under their adjustable rate loans that are drowning them in debt.

When you live in Myrtle Beach, golf will likely become part of your life at some point. With over 125 golf courses in the area, most real estate for sale is likely close to at least one or more golf courses. After you have found your dream home in Myrtle Beach, you might consider seeking out a quality golf school in Myrtle Beach. After all, when friends or family come to visit and they want to play golf, you will want to be ready so you can head out to tee off with them. Get your swing perfected by getting your Myrtle Beach golf Swing Training at Chuck Wike Golf School.

In an effort to offset the higher gas prices and boost vacation sales for Myrtle Beach condos and resorts, several are taking advantage of "gas rebates".

The Myrtle Beach Chamber of Commerce sent out a newsletter today that mentions some nice discounts and rebates being offered by Ocean Creek Resort, Grande Dunes, and others.

Like the old-time marketing of timeshares, this would be an ideal way for anyone interested in looking at Myrtle Beach real estate to take advantage of the discounts to visit for a few days and view some properties.

Here are some of the vacation deals they mention in the newsletter:

Litchfield Real Estate Company is offering a $50 dining card to their vacation guests. Pawleys Island condos and Surfside Beach vacation homes would benefit from this nice offering.

The Marina Inn at Grande Dunes says they will give a 10 cents per mile rebate to vacationers booking this elegant luxury resort. If you're coming from far away, this would be the one to take advantage of!

Sea Watch Resort will accept a gasoline receipt for 24 hours prior to arrival, and refund up to $75 for a 3 night stay, or $100 for 4 nights or longer. That is a great discount!

The beautiful Ocean Creek Resort is offering 25% off on stays of 4 nights or longer. Depending on the type and price of these North Myrtle Beach condos that you choose, this could mount up to a great discount package as well.

If you have been thinking of coming down to look at the best deals on real estate available in Myrtle Beach, this is an excellent opportunity to combine a wonderful vacation on the Grand Strand with your trip to look at some of our condos and homes. Prices are at rock bottom lows right now, and you couldn't pick a better time to buy.

If you Contact The Myrtle Beach Condo Store, we'll be glad to help you with finding a place to stay, and show you the best deals on Myrtle Beach vacation real estate to be found! You can also call us toll-free at 1-877-839-0005 and let us help you find that perfect vacation home of your own.

See our other blog - Myrtle Beach Real Estate News

Real Estate Marketing by Myrtle Beach Web Design, Inc.

Foreclosures: These are the big Daddies of them all; the do or die, the final chapter. It may take six months for these to go down, but when they do, that's it: your property is history; you lose it!

In the states where a"Deficiency Judgment" is still an option, you still have 30 days to redeem your property by paying the bank ALL that you owe them, plus, plus, plus (the cost of the foreclosure process is not cheap and that gets added to the tab). I'm yet to see a person redeem their property, but it does happen in the movies...

Anyway, if you don't come up with the money within the 30 days after the foreclosure sale, the property goes to someone else.

In the states where a Deficiency Judgment is not an option, or when a lender does not request a deficiency judgment, which is the case quite frequently lately, then the foreclosure sale is the final sale. The Buyer pays 5% in cash the day of the sale and the remainder of the money within 10-20 days. The Buyer gets the property "as is", complete with mold issues, structural issue, tax liens, even HOA liens. This is the riskiest purchase a Buyer can make and it is NOT for the Real Estate Junior Leagers...

If you are the unlucky one the bank does not forgive, you receive the surprise of a Deficiency Judgment after the Foreclosure Sale. If you owed the bank $ 90,000 and they sold your property for $ 45,000, the bank will go after you for the difference of the $ 45,000 plus the late fees, plus the foreclosure costs. That $ 45,000 owed can easily become $ 70,000 and the bank will get a deficiency judgment against you for that amount. That deficiency judgment will follow you wherever you go until they get their money somehow. The bank will put liens on your other properties, your toys, your retirement accounts; they could even garner your wages. Yup, pretty scary!

For those of you who think that just trashing your credit and losing your property are the only bad things that can happen here, you're in for a very bad surprise. Just talk to one of those guys who do the chasing after these deficiency judgments; he'll let you in on some little secrets of the trade. Suffice it to say: you do not want a deficiency judgment clouding your life!

Myrtle Beach Foreclosures, Mirela Monte Short Sales, Foreclosures & REO's... Part 1

I was talking with an agent friend of mine today and she confessed that she didn't know the difference between Short Sales, Foreclosures and REO's.

If an Agent doesn't know, I'm sure many others are confused as well. Here is the scoop, and it's spread over the span of three posts, so you'll have to come back to my blog later for part 2 - Foreclosures and part 3 - REO's.

1. Short Sale: This is the name of the transaction where you owe the bank more than the property is now worth and the bank agrees to let you sell the property for less than what you owe the bank... you sell short... short sale.

Say you purchased the property for $ 100,000, with 10% down; you now owe $ 90,000. Because of the market, the value of your property is now only $ 50,000. You get an offer for $ 45,000 and the bank approves it. The buyer gets your property for 10% under market value, you are not foreclosed on and the bank gets the $ 45,000 instead of the $ 90,000 that you owe them and calls it even.

Your credit gets dinged, but not as badly as with a foreclosure.

The IRS used to send you a 1099 for the difference between the $90,000 you owed the bank and the $ 45,000 that you actually garnered the bank. In the eyes of the IRS you had made $ 45,000 and they wanted a piece of it. Not anymore. Our lovely legislators have halted that practice for the time being. You won't get a 1099, but that doesn't mean that you won't owe capital gains taxes (Say what? ...More on that in another blog).

How do you get the bank to allow you to sell your property for less than what you owe them? You have to prove a hardship: you lost your job, you got sick, your spouse left you and she was the primary breadwinner... you get the picture. If you have money in a retirement account, a couple more properties, a boat and other toys, the bank will want you to pull the money from all those goodies and make up the difference. A short sale is not for those who are still financially comfortable.

Myrtle Beach Short Sales by Mirela Monte Join The Optimist Group!

Hey Everyone!

This is my first blog post on Active Rain! I am brand new here and look forward to having some fun and getting to know some people. My real estate sites are located below:

Myrtle Beach Real Estate

Myrtle Beach Condos For Sale

Myrtle Beach Condo Sales

Have a look! I will be sure to come back and add some useful information for everyone soon...

Until Then!

See you soon...

Oh, and what's Myrtle Beach without golf! Here is a link to our Myrtle Beach Golf Package Website!

Myrtle Beach Golf Packages