Myrtle Beach Real Estate

Very Important Update About the Myrtle Beach Real Estate Market:

If you’ve been waiting for the right time to buy Real Estate in the Myrtle Beach Market, you better hurry up, for you may already be a bit late!

Kay Van Hoesen with Certifax Appraisals is a professional Real Estate Appraiser I hold in very high regard. Kay’s experience and leadership in this area make her a most credible source of information for Real Estate Brokers, Banks and Investors. Here is an update I’ve just received from her, underlining all the trends I’ve noticed occurring lately in our market:

***CertifaxAppraisals.com Breaking News***

MYRTLE BEACH, SC – Appraisers observe declining inventory with notable changes in listings-to-sales ratios.

In the last three weeks, appraisers at Certifax Appraisals have noted declining inventory in many product types. When completing residential appraisals, the appraiser must state the number of comparable sales found in the last 12 months as well as the number of comparable listings in the subject neighborhood. Last year, in almost all product types, the number of comparable listings far exceeded the number of comparable sales, often by 2-to-1, 3-to-1 and even 4-to-1 ratios.

Since October 1, 2008, Certifax Appraisals has made note of 12 examples in which the ratios were either in-balance or the comparable listings in the neighborhood were significantly fewer than the sales over the prior year, as shown in the table below. Couple this local data with national statistics released last week (builders slashing production of new housing units), and clearly, this is a good sign for supply/demand factors and future real estate values in the Grand Strand market.

For more information, contact Certifax Appraisals.

Kay Van Hoesen

Certifax Appraisals

1297 Professional Dr., Suite 201

Myrtle Beach, SC 29577

Phone: 843-497-9155, Ext. 103

Fax: 843-497-6252

www.certifaxappraisals.com