Myrtle Beach Real Estate

Are you thinking of investing in real estate? Myrtle Beach Real Estate is an investor’s dream right now. Take a look at the market, and see what the analysts are saying about Myrtle Beach, South Carolina…

For a coastal resort town, Myrtle Beach is still under priced. It has retained its investment potential, even though it is a buyers’ market right now. While we’re hearing nothing but dire predictions about the real estate market nationwide, and Myrtle Beach has its share of doomsayers, the economy of Myrtle Beach is still growing. There continues to be increasing commercial growth, more people moving to the beach, and employment rates in Myrtle Beach are higher than the rest of the state.

South Carolina’s population is expected to increase by a million people over the next fifteen years. Over the past two years, the Myrtle Beach area has increased in population by 11,000. That means 11,000 more people need to eat, work, go to school, take lessons and seek entertainment. During the vacation season, over 15,000,000 people visit Myrtle Beach for entertainment and the beach.

With businesses like Market Common and the Hard Rock Park opening in 2008, growth is expected to continue, as they will provide more jobs. The Hard Rock Park alone expects to employ 3,000 people during peak season, and 1,500 – 1,800 in the off-season. This will lead to an increase in hotels and restaurants, which will also increase the employment base.

Analysts are expressing confidence in Myrtle Beach’s continued economic growth… all the more reason to invest in real estate in this area. Some contractors are expressing the same optimism, planning new housing developments that include single-family homes, townhouses and ranch homes.

Condos, especially, would make a good investment. Values for condos are continuing to increase annually, with prices rising this past year approximately 4%. If you are interested in an even better investment, look for preconstruction condos. They are often sold for a fraction of what the finished condos will be sold for, and can be reserved for a very minimal down payment.

Sales are slowly increasing, and the length of time homes spend on the market is slowly decreasing. This is a prime time to jump into this market, as the opportunity exists to buy properties at a good price. Think of all the options for purchasing real estate in the Myrtle Beach area. Homes can be lived in, resold, used as rentals or vacation properties.

So, while the housing market continues to falter nationwide, there are deals to be made in Myrtle Beach. Growth is continuing… invest in Myrtle Beach.