What Can $100,000 Buy Me Oceanfront in Myrtle Beach?
How about a 2BR/2Ba at The Palms? During the past 3 months a two bedroom, two bath unit sold there for a mere $ 107,500.
For only $125,000, you could step it up a few notches with a top of the line 1BR/1Ba oceanfront condo at Baywatch Resort. My Buyer picked it up for the lowest price since 2002 (it was the pre-construction price in 2002). The condo was a bank owned unit in excellent shape. I am very proud of my performance and my Buyer is ecstatic. I just looked at the comps and someone else bought the same thing from another agent (probably the listing agent!!!) for $200,000 in the past three months. Oh, well... Having a great Buyer's Agent is worth quite a pretty penny these days...
To date, this is the lowest price seen at Baywatch on an oceanfront 1BR/1Ba since 2002! Congratulations Tiger! By the way, Tiger found me through my Active Rain Blogs. It pays to be informed and Active Rain is at the forefront of it all!
Getting back to our subject at hand... For a mere $105K, some other lucky buyer scored a primo oceanfront efficiency unit on the fifth floor of the Caravelle Resort. What's so special about the 5th floor there? Any unit situated oceanfront (which this one was), has a HUGE patio overlooking the ocean. I mean HUGE (about 15X24). That was a great buy!
What was the least expensive oceanfront condo sold in Myrtle Beach in the past 90 days? A 1BR/1BA at Bluewater Resort, which sold for only $59,900. An efficiency unit at Landmark Resort sold for slightly more: $60,251. I can just imagine the negotiations on that one: "The seller wants more? Fine, tell him I'll give him another dollar; make that new price: $60,251!" Seller: "I'll take it!"
Get yours now, while the getting's good! All my smart investors are buying in earnest, while the average Joe is timid because of the economy, the same Joe who paid three times these prices in 2005 because the media kept screaming that it's time to buy!
10 comments • Myrtle Beach Real Estate by Mirela Monte • October 29 2008 09:59PM
Great news for Investors!
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I love that picture (the first one). It was taken from the balcony of a unit I sold this year at Baywatch. Sydney, yes, that's your condo! Just a reminder of the loveliness you own in Myrtle Beach.
Mirela, WOW what a fantastic view and for only $107,000 thats a deal!!!! pippa
We've got some condos down to around 100k out here too, but they sure don't have that view. Those are some smokin deals.
WOW, what a great buy. This is sure to get vacation or investors thinking. What a beautiful area...
You've also got me thinking more about real bird!!!
Amber
Mirela- if you find another ocean view near this price email me the listing info. I may have a friend to send your way.
Chuck I have a bank owned 1Br/1Ba in top shape, fully furnished in beautiful Avista (oceanview unit in oceanfront buildng). The bank will take $142K. It grosses $23K and it's a primo property. I have a video of it on YouTube. Just look it up as Avista unit 232 under MyrtleBeachGuru on you tube.
I also have an REO single family home 3BR/2Ba, stickbuilt home (NOT modular or mobile, a REAL home) on a spacious lot in the path of growth. The home is 3 yrs old and it's in a good area & good schools, 7min to the beach. It will rent for $895 per month. Bank will take in the $120's.
If your buyer is interested, please contact me soon, as these properties usually sell very quickly. I'll have more properties soon, as the big foreclosure sale is next week.
Mirela,
You are so right. Buyers agents are worth every penny and you just proved it with these deals.
Mirela- I spoke with him last night... he's going to be thinking of which beach he prefers. I told him I have a cracker-jack agent in the area to help him out. We'll see where it goes.
Mirela, Geez I had no idea that the prices had come down that much. I use to live in NMB in 1985 I know the prices were higher then that then,