Myrtle Beach real estate

no one has a crystal ball, but having been in the real estate market several years mostly dealing with Myrtle Beach condos and Myrtle Beach rentals I do feel somewhat qualified to give my opinion.

 Myrtle Beach foreclosures  are on the rise and increased dramatically in 2008. I do think this yrend is going to continue for atleast all of 2009 and 2010 we will see the market just move sideways. In 2009 we are going to see option arm loans and alt-a paper loans start resetting. basically it will be a replay of the 2009 mortgage crisis. This time will be different the banks are already weak and can’t sustain major losses like many of them did last year.

So we won’t see a price increase in the Myrtle beach sc area in 2009. I don’t think we will see a decrease in inventory either. There are so many people who have been just barely hanging on. Now with the economy and so many business closing, many people wont be able to afford their 2nd homes and investment properties and keey their primary residences too. If you live in a resort town then you still have a little way to go also.