Myrtle Beach is a Buyers Market – Don’t Delay

Posted in General Real Estate , Myrtle Beach Real Estate

“You may delay, but time will not” Ben Franklin

“Time waits for no one” Rolling Stones

Both parties were considered experts, if not geniuses in their respected fields and both comments apply to the current real estate market.

It has been a long time since the market favored the Buyer as much as the current one does.  Supply is up, interest rates are down.  But you may ask yourself “How can I take advantage of this”.  

1st Get mortgage approval – Sellers will be more willing to negotiate and take a little less if they know once they commit the sale will go through.

2nd research the market or have a real estate professional do it for you. Look for a low dense community (not a community of 1000 homes). Unless you plan to live there the rest of your life you will eventually have to sell that home and if you are competing with a bunch of the same homes what advantage will you have.

3rd Look for areas that have the potential for growth.  Buying in an area that is already grown up will limit your potential appreciation.  Coastal regions are a big draw for retirees and those looking for a more laid back lifestyle.  People move to these areas all the time which in turn creates demand for the property that you own.

4th Remember Real Estate is a long term purchase.  Don’t look at what will this property be worth next month or in 6 months.  When you purchase a home you need to be looking 2 to 5 years out – Ask yourself would I buy this home again in 2 years or 5 years. If the answer is no then you are looking at the wrong home.  If it is yes, then now is the time to take advantage of this situation.

5th Real Estate is proven to grow your wealth.  It is one of the best long term investment engineers for your money. The financial markets and economy are in a rough patch currently but remember ‘THESE TIMES ALWAYS PASS”.  Are you going to wait till the market turns to the Sellers favor?

“The Greatest Investment on Earth, is Earth” William T. Ellis