Wednesday, January 14, 2015

Real Estate May Be a Good New Year Investment

A lot of homeowners consider buying a new home as the New Year unfolds. The consistent boom in new developments in Myrtle Beach for the past 12 months is already a good sign for fresh investment. It certainly helps that the coastal location and the quality of life are at the tips of anyone’s tongue when talking about the area.

A look at the potential areas for your new property will give you clues on where you should ask your realtor to look and what you’re looking for. Work on building homes has been proceeding well, and encouraging signs have also become evident in outer areas like North Myrtle Beach and Conway. A recent purchase of golf clubs by foreign investors may even stimulate growth for the local golfing community and retirees.

For home construction permits, downtown Myrtle Beach registered 402 permits a month as of September, 2014, up from 201 the year before. Permits for unincorporated areas in Horry County year-on-year registered at 239 as of August, 2014 against 137. Some of the permits over the entire area may even include new oceanfront condos.

When you are studying the listings, it is also prudent to inquire if some of your prospect properties are foreclosures. An official from a local home listing source says areas in the Grand Strand and Greenville were picking up the slack as several sellers in Florida and California were trying to clear so many foreclosed properties. 

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