I recently read an article in the Sun News written by Jenny Burns titled “Realtors predict upswing ahead.” It goes into detail about the state of our local housing market.

The article states that although sales were down in the second quarter compared to last year, improvement over first quarter numbers allows forecasters to speculate that the worst is behind us and that the market will begin to improve soon!

As a local Realtor, I agree that the market is at the bottom, and sales will start to pick up as sellers become more aware and comfortable with the market. Property values increased drastically in 2005 and 2006, and it has taken some time for sellers to realize that our market will not see that same dramatic appreciation again. It could be as early as 2008 that we begin to see real improvement as sellers become more flexible to lowering asking prices to accommodate the reality of the market.

Outside of our local market, the article also details that sales nationwide have come close to hitting rock bottom. That is great news for the Myrtle Beach area, as many buyers have delayed purchasing homes in our region due to the slow sale of their properties elsewhere.

Interest rates are low, loans are still relatively easy to get, and there is a surplus of property to choose from in Myrtle Beach. This might not be true for much longer! Contact me today to see your dream home or to discuss the perfect real estate investment for you! I look forward to hearing from you.