Savvy buyers are finding good deals in Myrtle Beach. Foreclosures and builder close-outs are further depressing prices in an already slow housing market. Careful buyers are finding motivated sellers and getting more for their money than they could a few years ago.

Here are some examples of the good deals that have already closed in 2009. I’ve included different price ranges and grouped them by Single-Family Homes and Condo / Townhomes.

• Single-Family Homes – click here.

• Condo / Townhomes – click here.

But finding these deals before they’re sold isn’t easy. That’s why knowledgeable buyers work with an experienced buyer agent. The best deals don’t last very long.

An experienced buyer agent knows what her clients are looking for. She continually scans the market searching for property that suits them. And she helps them line up their finances, in advance, so that they can act quickly when they find a good deal.

If you are looking for a good deal in Myrtle Beach, I’d be pleased to work with you as your buyer agent. Call me today, toll-free, at 1-888-494-8654, or email me at Barbara.Chartier@century21.com . I’ll help you find what you’re looking for and negotiate a great price.

Barbara

Myrtle Beach made Southern Living’s reader’s choice list as the No. 2 overall beach and family destination. Orlando, Florida took the top spot for best family destination, and Destin, Florida received the most votes for the best beach destination.

Southern Living, a lifestyle magazine, largely covers Southern food and homes.

Click here for link to all “Readers’ Choice Award Winners.”

Click here for link to Myrtle Beach Family Guide and slide show..

In 2008, selling prices of Grand Strand homes posted their steepest declines in at least 15 years, according to year-end stats provided by the MLS. The declines show just how much sellers have been willing to slash prices - and are evidence of bargains out there for buyers.

The Bad News: MLS stats for 2008

• Single-family home prices fell 5 percent from 2007
• Single-family home sales fell 32 percent in 2008
• Condo prices fell 23 percent from 2007
• Condo sales fell 36 percent in 2008

The Good News: Silver lining for patient buyers

The decline last year brings prices about back in line with what they were in 2005, said Tom Maeser, market analyst for the Coastal Carolinas Association of Realtors.

The number of homes for sale is also on the downswing, a good sign that supply is starting to get back in line with demand, Maeser said. The number of homes on the market fell from 13,484 at the end of 2007 to 12,801 at the end of 2008.

The price declines have been necessary to get buyers to bite and to help sell excess inventory, said Coastal Carolina University research economist Don Schunk.

His forecast calls for the housing market to start stabilizing in the second half of this year as low mortgage rates spur people to buy homes, as economic stimulus efforts from the new presidential administration take effect and as inventory gets eaten up.

“That’s not saying that 2009 is going to be a banner year by any means,” Schunk said, “but toward the end of this year, the declines should be slowing.”

Resource: Jessica Foster, The Sun Times, Myrtle Beach

Here are excerpts from an article in The Sun News written by Lisa Fleisher and Jessica Foster – click here for full article. By all accounts, 2009 looks like a slow year… recovery not expected until 2010.

Here’s a look at the nine issues to keep an eye on this year:

Unemployment

One of the basic building blocks of the economy is continuing to crumble this year as people keep losing jobs.

Unemployment affects Myrtle Beach in two ways: More tourists are out of work, meaning they can’t spend many nights or as much money on vacation here. That, in turn, means there will be fewer jobs to be had on the Grand Strand.

And even if the economy starts getting better, people will continue to lose their jobs, and unemployment will continue to rise all year.

Gas prices

After a year during which gas prices rose to seemingly impossible heights, then crashed, observers think prices should stay relatively stable, at least through the first half of this year.

Hard Rock Park

The rock ‘n’ roll theme park’s fate is still up in the air, and it’s unlikely anyone will open the park in 2009.

An auction to sell the park for a minimum of $35 million failed, and the park is still looking for a buyer. The 55-acre park closed in September and filed for Chapter 11 bankruptcy after a disappointing first season.

Interstate 73

The long-planned interstate has a few chances to get federal funding this year.

Myrtle Beach I-73 boosters, who want a highway to connect the Strand to Michigan and all the tourists in between, are trying to see if there is any money available through any stimulus package that might be passed by the Obama administration and the 111th Congress.

More likely, perhaps, is for money to come from a highway funding bill that is supposed to be renewed this year.

State budget

The state government will have another difficult budget year, cutting funding to a number of services, freezing open job positions and even laying people off or asking them to take unpaid leave.

Economists are starting to worry now the government will have to look at raising other taxes, such as sales tax or property tax, especially on commercial property and second-home owners.

The real estate market

Housing market woes could ease toward the end of 2009 or in early 2010, experts say.

That’s when low mortgage rates, efforts to loosen lending and dwindling inventory levels could help stop the freefall seen in 2008 in home sales and prices.

“I hope we’re back to the 5 percent per year appreciation that we grew to know and love in 2010,” said Chris Fuse, president of Grand Strand Appraisers Inc. “I think it’s going to take 12 months for the new administration to put their fingerprint on the economic catastrophe that we’re experiencing and to build consumer confidence again.”

Banks

Grand Strand banks could face another tough year in 2009, but most have enough capital to weather the storm, experts said.

One of the problems that banks along the coast will have to deal with is growing their loan portfolios in a market where a major source of loans - the real estate market - is suffering a downturn, said Tony Plath, associate finance professor at the University of North Carolina at Charlotte. Plus, interest rate cuts are putting a damper on banks’ interest margins, or the difference between what it collects on loans and what it doles out on deposits.

Inlet Square mall

The Murrells Inlet mall’s owner, Inlet Retail Associates, defaulted on the loan it got to buy and renovate the shopping center, meaning the mall could be sold, go into foreclosure or the mall’s owner could file for bankruptcy, the lender’s attorney Rick Mendoza said in September.

The mall was in the middle of a $4.5 million renovation project when it ran into financial troubles, and crews stopped work in November 2007, leaving the job only partially finished.

Some of the companies that worked on the renovation are still in the dark about whether or when they will get paid.

Consumer prices

One bright spot for 2009 is the likelihood that price inflation will ease on many items in stores.

Already in November, the Bureau of Labor Statistics’ consumer price index fell 1.7 percent on a seasonally adjusted basis from October levels, fueled by declines in energy and transportation costs. The price index, however, remained 1.1 percent higher than in November 2007 and the food price index was 5.9 percent higher.

Consumer prices [are expected] to be flat in 2009 because retailers won’t have to raise prices like they did in 2008 to keep up with skyrocketing energy and transportation costs.

The prices of apparel and electronics will likely dip the most as retailers slash prices to lure shoppers. Food costs should stay about the same.