North Myrtle Beach Foreclosures

January 24, 2010

Myrtle Beach vs. North Myrtle Beach Foreclosures

We all know that Myrtle Beach is a hot spot. Tourists come all year round to enjoy the sun, sand, and of course, the greatest golf courses ever. Are the other parts of South Carolina any different? Is it more difficult to purchasing property? Myrtle Beach vs. North Myrtle Beach foreclosures are not that different, other than the cost of the homes and the number of visitors.

It?s no secret that the tourist attractions that are frequented the most are usually the most expensive, and this location is no different. You could spend up to $5,000 a night during the peak season to rent a home or a few hundred to rent a hotel room. Many vacationers have chosen to purchase property here as a second home and they save big money in the long run, but even smarter vacationers are trading in those high-priced resorts and expensive hotels to purchase foreclosures in North Myrtle Beach.

Why North Myrtle Beach?

This is a great place for lower to moderate income individuals who want to live in the suburbs but still be close to the fun. From middle aged married couples with children to military veterans and even singles, this place has a mixture of groups with something for everyone.

The beaches in North Myrtle Beach are just as beautiful and scenic as Myrtle Beach and the home prices do vary according to where you live. On an average, about 73% of the people in North Myrtle Beach are homeowners with 26% being renters. There is a mixture of condominiums, single family homes, town homes and of course apartments with condos taking the lead at 49.8%. Property taxes are modest at around $2,000 a year, making this a great choice to buy here.

Are Foreclosures Really Great Deals?

Foreclosures can be great deals, but they can also cause you a lot of headaches. It is important that you do your homework before purchasing a foreclosure or your substantial savings may be the exact opposite with you paying out more than you care to.

Have your real estate agent do some market research and assess the current market value. This will give you the worth of the property as well as how much you will save buying it in foreclosure.

Another benefit of doing extensive market research is to get a feel for the area. The neighborhood, the crime rate, schools, shopping and other things should be carefully considered. If you get a great deal on property that puts you an hour and a half from your workplace, this isn?t such a great deal as your savings will be eaten up by gas prices.

The great thing about N. Myrtle Beach is that there are so many nice areas that you can benefit from someone else?s loss through purchasing a foreclosure. Myrtle Beach vs. North Myrtle Beach foreclosures is just a matter of personal preference and where you want to live. Have your agent show you around both areas and pull up the foreclosures. You will find great properties in both, with North Myrtle Beach having just a little less tourist traffic.

Related posts:

  1. Get a Great Deal on a Myrtle Beach Condo Foreclosure
  2. Foreclosures “Turn Key” Treasures
  3. Myrtle Beach Foreclosure Properties Are Great Investments
  4. Myrtle Beach Real Estate – A Buyers Market
  5. Myrtle Beach Foreclosure Properties for Golf Lovers

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