MORE BUYERS are coming to Myrtle Beach looking for a deal… and they’re finding them. I see it in my business… and other agents in town confirm it.

Realtor.com is also showing an increase in web traffic for Myrtle Beach… with a 24.6% increase in search activity, year over year. Myrtle Beach now ranks 42nd in the list of 135 national markets with the biggest growth in web traffic. Realtor.com is the national home search website of the National Association of Realtors.

Home and condo prices continue to decline… driven by bank foreclosures and short sales. Other motivated sellers want to cut their losses and move on. Expect more market weakness this fall as monthly carrying costs begin to take their toll on owners.

MLS data shows that Grand Strand home prices are down 7% and Grand Strand condo prices are down 20%, year over year. It’s been a tough year for sellers… but a great year for buyers.

We’ve got some units here that are back to their original selling prices, said Coastal Carolina Association of Realtor’s market analyst Tom Maeser. In some cases with new homes, they’re selling below what they were selling for when they were first built.

There are still “hurdles to overcome” said Maeser including tight credit markets, and the uncertainty surrounding the presidential election.

Investment opportunities abound in Myrtle Beach for buyers with cash or great credit… who are willing to take a long term (3-5 year) perspective. Some of my clients have picked up amazing bargains.

For more information on “Best Buys” and to order my Special Report on “How to Maximize Your Investment in a Buyer’s Market”… go to my website BarbaraChartier.com , or call me toll-free at 1-888-494-8654.

Data Resource: Jessica Foster, The Sun News, Myrtle Beach

MORE HOME BUYERS ARE PAYING CASH for property in Myrtle Beach. In the first half of 2008, 22% of the buyers paid cash, compared to 16% in 2007 – an increase of 37% year over year.

Who’s paying cash?

 Second-home buyers of vacation / investment property… older buyers looking to diversify their investments.
 Baby-boomers looking ahead to retirement in Myrtle Beach… some have inherited the money, or taken it out of another real estate market.
 Foreign nationals taking advantage of the weak dollar.

Working the credit crunch.

The tightening of the credit market is working to the cash buyer’s advantage. It’s a lot tougher to get a mortgage these days, especially on investment property. The credit crunch has narrowed the pool of qualified buyers considerably.

Cash buyers have more negotiating power. Sellers love cash buyers because sales are not contingent on financing and they can close quicker.

Follow the money.

Is it true that people who can pay cash for vacation / investment property are better real estate investors? Not necessarily. But they do have sufficient financial resources to enable them to risk entering a real estate market a little early… before it shows definite signs of recovery. They can afford to buy low now… and wait out the market.

It’s a buyer’s market in Myrtle Beach. Right now there are some amazing deals, particularly along the oceanfront… and cash buyers are making the most of them.

Barbara Chartier - For more information on great buys, call my 24/7 hotline, toll-free, at 1-888-494-8654, Ext 1. I’ll return your call within 24 hours.

Resource: Jessica Foster, The Sun News in Myrtle Beach

Falling home prices are attracting savvy buyers to the Myrtle Beach real estate market. In June, home sales prices decreased further (down 11.1%)… but averaged fewer days on market (DOM) (down 10% to 222 days) – primarily because of bargain hunters. Lower priced homes (under $350,000) are benefiting the most.

It’s a buyer’s market.

Sellers are slowly coming to terms with the realities of a buyer’s market. If they want to sell their property, they have to offer buyers a bargain. That often means lowering prices to pre-boom levels, near or below the seller’s original purchase price. And that’s just what buyers are looking for.

What does the future hold?

S.C. Realtors® expect further decreases in home sales and prices over the next six months according to July’s S.C. Market Confidence Report. Issues of concern are foreclosures, taxes, negative media coverage, and the election.

How can I find the bargains?

Order my Special Report – How to Maximize Your Investment in a Buyer’s Market (and Avoid the Mistakes that Cost Home Buyers Thousands of Dollars). Order online on my website’s Free Reports page, or call me, toll-free, at 1-888-494-8654, Ext 212 and follow the recorded directions.

Take a look at my Best Buys page when you visit my website – www.BarbaraChartier.com.

Barbara Chartier

Data Source: Jessica Foster at myrtlebeachonline.com.

By: Barbara Chartier, Century21 Coastal Lifestyles
Cell: 843-902-0204; Email: barbara.chartier@century21.com

“Sellers need to get realistic in pricing, and buyers have to realize they can’t wait forever for good deals. There are definitely good deals out there.” Tom Maeser, president of the Fortune Academy of Real Estate.

INVESTORS MAKE THEIR MONEY WHEN THEY BUY: they do their research… recognize value when they see it… have their financing lined up… and make offers.

Here are seven great buying opportunities at Myrtlewood Golf… all with recent price cuts and motivated sellers.

• Six are in Magnolia Pointe: all new, unfurnished, never lived in or rented, being offered at, or below, owner’s purchase price.

• One is a fixer upper at Magnolia North: golf course view, 1st floor end unit plus private garage… but it needs work.

REMEMBER: If you’re not making offers, you’re not making money. Check out the MLS links below and call me at 843-902-0204. Buy them right, now… and they’ll pay off later, when the market turns around.

Magnolia Pointe: All New, Unfurnished, with Recent Price Cuts and Motivated Sellers

1 – MLS # 631480 – 2 Br / 2 Ba, 4th fl, lake view – asking $184,900… $2K under owner’s purchase price. Make an offer.

2 – MLS # 716900 – 3 Br / 2 Ba, 3rd fl unit, lake view – asking $197,244… $10.6K under owner’s purchase price. Make an offer.

3 – MLS # 701067 – 3 Br / 2 Ba, 2nd fl end unit, lake view, close to pool - asking $199,900… $19K under owner’s purchase price. Make an offer.

4 – MLS # 716697 – 3 Br / 2 Ba, 1st fl end unit, lake view – asking 199,900… $10K under owner’s purchase price. Make an offer.

5 – MLS # 631488 – 3 Br / 2 Ba, 4th fl end unit, lake view – asking $199,900… $6K under owner’s purchase price. Make an offer.

6 – MLS # 716696 – 3 Br / 2 Ba, 1st fl end unit, lake view – asking $199,900… at owner’s purchase price. Make an offer.

Magnolia North: Fixer with Recent Price Cut and Motivated Seller.

7 – MLS # 702784 – 3 Br / 2 Ba, 1st fl end unit, golf course view, plus private garage – asking $229,000. Rental unit needs work – paint, re-carpeting, some re-furnishing / re-decorating. Calculate your fix-up costs and make an offer.

CALL ME at 843-902-0204 for more information and / or to make offers. I’ll look out for you.

BARBARA CHARTIER, Century21 Coastal Lifestyles
Cell: 843-902-0204; Email: barbara.chartier@century21.com

“Best Buys” are not easy to find along the Oceanfront – here are some Oceanfront Condos being offered at realistic prices by motivated sellers. I’ve included links to their MLS sheets and Maps. Check out the Visual Tours in the MLS links where available.

Call me for more information and/or to make an offer.
Barbara Chartier, Century 21 Coastal Lifestyles Cell: 843-902-0204
Email: Barbara.Chartier@Century21.com

1 – MLS 708800 - # 903 Landmark Resort - $107,500. North side Ocean View efficiency… shows exceptionally well. 2nd lowest priced (other one is a “short sale” listed at $99,000) but owner is reasonably motivated. These sold for $124,900 pre-conversion in 2005. Rented onsite. Map

2 - MLS 626272 - # 319 Caravelle Resort - $143,000. Direct Ocean Front - king efficiency unit… handicap accessible. Lowest priced direct oceanfront in resort. Gross rental income through August - $15,740.30. Map

3 - MLS 728273 - # 808 Dunes Village I - $277,500. Just Listed… Direct Oceanfront Deluxe 1BR/1BA condo. Lowest priced comparable unit in building. Map

4 – MLS 715531 - # 1034 Grande Shores - $309,000. Lowest price in complex for 3 BR / 2 BA - Ocean View… first stack back from oceanfront with unobstructed views of ocean and coastline (see listing photos) in 6 yr old building. Owners will look at any reasonable offer. Over $40K in gross rental income in 2005 and $32K in 2006 (but owner used over 40 nights in 2006 during summer). Rented onsite. Map

5 – MLS 711044 - # 603 Dunes Village I - $309,900. Only 5 like it in the entire building. Huge (880+ hsf) 1 BR / 1 BA with two double beds, sleeper sofa, and a Murphy bed. Sleeps 6-8 easily here… just like a 2 BR but for tons of $ less than a 2 BR. Direct Ocean Front, north corner with wraparound floor-to-ceiling glass and large balcony (see listing photos). Very unique floor plan and ultra contemporary. Fully furnished with washer/dryer. Rental machine… rented onsite. Comparable unit # 403 sold earlier this year for full price at $319,900. Map

6 / 7 – MLS 711033 - # 1106 Grand Atlantic - $389,900 & MLS 715296 - # 1006 Grand Atlantic - $399,000. Direct Ocean Front 3 BR / 3 BA in 13 month old resort. Enclosed corridors in very nicely decorated resort. Pre-construction price from 2004 was $389,900 furnished - buy for less than original price. Two of the best buys for new 3 BR Ocean Front condos anywhere along the beach. Rented onsite. Comparable unit # 302 Grand Atlantic sold for $385,000 so these are priced right. Map

If you are looking for a “Best Buy” Oceanfront Condo in Myrtle Beach, start here. I have access and information on every property listed on the Grand Strand. I can help you find what you’re looking for. Give me a call at 843-902-0204

Barbara Chartier, Century 21 Coastal Lifestyles
Cell: 843-902-0204 or Email: Barbara.Chartier@Century21.com