Myrtle Beach Real Estate by Mirela

With over 136,000 Members, our voice is now strong.   Many of you are signaling an extraordinary increase in business for the past several weeks.  Here are some of our voices on the subject of a Real Estate Market in the midst of a major transformation:

Myrtle Beach Real Estate by Mirela Monte:  I just pulled numbers on Oceanfront Condos in North Myrtle Beach.  What I found made my hair stand up: 24% of the North Myrtle Beach Oceanfront condos are now "Pending Sale".  24%!!!  Twenty-Four Percent!!!  Compare that with the typical 2.5% activity per month and you start seeing what I'm seeing: 10 times the activity almost overnight!  That's BIG!  That's REALLY BIG!!!

Gene Wunderlich :  I'm going to be posting year-end numbers for my association here soon but you're right on the money. Of our 5 city region, 4 of our cities set sales records last year surpassing sales for any of the previous 5 years. 2 cities were double 2007 sales while 2 cities were triple! Now that must be tempered by the fact that prices are down 45%+ and continue top drop and REO inventory continues to grow, but if we can keep the buyers coming in chasing these incredible deals, we'll be out of the woods before you know it. By this time next year this'll all be just an unpleasant memory. Of course at my age, I could say that tomorrow and it'd be true.

Kenneth Fisher (Prudential Burroughs & Chapin):  I definitely agree with going against the grain to make money.  I also think banks should reduce rates for investors.  They should continue to be very careful about whom they lend money to, but if an investor is solid, they should be able to get a rate just as good, if not better than a first time home buyer.  Otherwise, it is difficult for many of these high priced deals to make sense, as I see it. Policy makers need to wake up and smell the coffee.  Am I missing something I should be seeing?

Robert Rauf (REMN The Real Estate Mortgage Network):  Mirela, I keep saying... this is the year... (Well I have been saying that since the end of last year!)

I think we will all look back at this period of time and wish we took advantage of the prices.

Valerie Spaulding~Allyn~Belfair~Hood Canal & Mason County~WA~Real Estate~ (Windermere Peninsula Properties~Allyn~Belfair~WA):  I too have had many listing appointments this month.  Most are not ready to jump on the market, but within the next couple of months.  Of course I told them we would have to relook at numbers at that time again as well to make sure the price was right and going to work.  The buyers - well in certain price ranges they are out - looking at homes under 200k. Which there are quite a few to look at.  Hopefully buyers and sellers have decided that you know what - life needs to go on.

Kent Anderson (Coldwell Banker Resort Realty):  Activity is up in my market, also. Life goes on, and people have been sitting on the sidelines for a few years now. At some point, they just figure, "it's time to continue striving for my dream."

Of course, sellers better be ready to take a bath.

Ann Allen SRES ASP e-PRO Birmingham AL Area Homes (Keller Williams): It has been a strong January for me also.....hope it continues!

Kim Daugherty, McKinney TX REALTOR, Broker (d + b real estate):  I, too, am having a busy January. Glad to hear others are as well. I've done my best to put on my "earmuffs" on with the doom & gloom - I prefer to think about the great market DFW is experiencing. Best of luck for a great February too!

Anna Chroscicki:  In our local newspaper yesterday (I work in South, Central Florida, Port St Lucie) we had article about market changing: more buyers, multiple offers, properties going under contract first day on market, etc...

I noticed that too in last couple of months, but you never know if this is just your experience.... What do you see in your communities? 

Elizabeth Bolton - Cambridge MA Real Estate Agent (Coldwell Banker Cambridge, Massachusetts):  Things are definitely picking up in Cambridge, MA and nearby towns.  I have to say, though, that isn't it nice that the newspapers had something positive to say about real estate - it's so often not the case even when things are going relatively well.

Lou Ludwig CRB, CRS, CIPS, GRI, SRES, TRC, e-PRO, (Ludwig & Associates):  There is positive change in the market increased buyers and increased sales.

Jim Kouns:  A relatively simple examination of our MLS shows pending sales units up about 10% from the 4th quarter of 2008 and our 2008 average sales price up 2% from 2007. In addition, our Board's listing inventory is the lowest it's been in many years.

Please add your own voice to this post!

Mirela Monte, Your Myrtle Beach Real Estate Connection              Proud Optimist!