If Myrtle Beach is still a choice, I would suggets getting several differing opinions from different agents in differing agencies. You can do this by visiting the Myrtle Beach City Site linke below.
Many people ask me about investing in real estate & what is the right thing to do. It's all about upside potential. When it comes down to it, its all about just doing it. Like Nike, just do it.
No way to time a market.
We only know how good a deal was, after the fact. When its gone.... the opportunity is lost
No one has a crystal ball to see into the future, but.....
If you do your research, put your best foot forward, a long term investment most areas that are close to water or the beach, should be very good.
Just let me know if you have any questions.
I'm glad to assist you in any way.
Regarding the market- Prices are back down to where they were a few years ago- offering a great opportunity for price appreciation going forward. MB is set to explode over the next 5 years as a vacation destination and as baby boomers look to retire to the beach (or own 2nd homes). You almost have to be "on the ground" in Myrtle to see the transformation and redevelopment occurring & what many have called the "up scaling of Myrtle Beach.â€
Just to name a few-
1) New Hard Rock Theme Park, under construction which is expected to bring 30,000 visitors a day in the summer & is the largest theme park built in the US in over 10 years.
2) Market Common- the redevelopment of the former air base...Market Common will feature a live/ work/ play community located a short bike ride to the beach. Market Common will feature upscale shops, dining, and entertainment venues in a town center atmosphere. Also the area will have live/ work town homes and Row homes styled similar to areas such as Alexandria, VA and Charleston, SC. Set to open in 2008- row homes and live/ work phases currently for sale and under construction.
3) Two large redevelopment sites located in the heart of Myrtle Beach are vacant and awaiting decisions of new plans- both are sure to have a great positive impact on the area. (Former Myrtle Beach Pavilion site & a former shopping mall site close to the pavilion site).
4) North Beach Plantation- Atlantis styled Oceanfront Condo resort Currently under construction and nearly 80% pre-sold, price range from the mid-$500,000s to over $2 million.
The list could continueâ€¦Myrtle Beach is considered the Golf Capital of the World, etc. If you would like more information about oceanfront condos and/ or beach houses that currently offer good investment opportunities, feel free to contact me via my website below. Best of Luck going forward! -Seaton Womble
Have you looked in the Desert? Palm Springs? Palm Desert? Prices are down, there's a ton of inventory on the market, and it's possible to have positive cash flow...especially if you invest in homes that that the "snow birds" will flock to in season.
Just a though. Good luck.
(I am not a Desert area Realtor.)
To thoroughly understand a marketâ€™s potential takes time and expertise. There are a number of factors to be considered to determine the future economic viability of a market, including:
â€¢ Population growth â€“ short term and trends
â€¢ An upward trend in job growth
â€¢ The presence of large, sound, industry-diverse corporations (Fortune 500 in particular)
â€¢ Future plans for additional corporate entities
â€¢ Availability of State and Local government jobs
â€¢ The presence of cultural activities â€“ music, art and nightlife
â€¢ Leisure interest and recreational activities, such as golf, hiking and athletics
â€¢ The development of retail outlets and restaurants
â€¢ The quality of local school systems
â€¢ The natural path of growth within the metro
â€¢ Social and political issues that impact supply and demand, i.e. urban growth boundaries
If you aren't married to Charlotte or Myrtle Beach, we recommend Austin, Atlanta, Portland, Raleigh and Albuquerque.
I'm also in California and have bought in Austin, Atlanta and Albuquerque in the last year. I'm seeing good appreciation and my quality of rentals and rents have been strong.
Hope that helps!
Please let me know if I can help you in any way in Charleston or Beaufort area or need a referral in Myrtle Beach or Charlotte.