The estimated population of Myrtle Beach is 28, 600 and it is the most well known city within the Grand Strand. Myrtle Beach has been a destination since the late 1800s and through the 1900s people begun to call Myrtle Beach, South carolina home. The beach, golf courses, shopping, entertainment, and special events have made the area popular for millions of people. Those in the know bought real estate and continue to do so because no matter what the market does they realize that there is only one Sea on the east shoreline.

When i am asked about home and residence foreclosures in the Myrtle Beach area those asking think there are multiple properties available. Finance Mailing List  Some do not believe me when i tell them foreclosures are limited and what is actually easily obtainable in today's housing market. Our Multiple listing service (MLS) includes property listed for sale within a 60 kilometer coast area known as The Grand Strand. I was shocked myself when i pulled in the real numbers from the Coast Carolina Association of Agents (CCAR) who monitor our LOCAL MLS system. According to CCAR in the single house category (excluding manufactured homes) there were 5, 503 Myrtle Beach homes for sale but only 270 of those were foreclosures and in the condo/townhouse category there were 4, 718 units listed for sale with only 99 foreclosures.

The potential buyer of in foreclosure real estate is unaware that during the past few months the purchase of troubled property has become more difficult and that difficulty may be worse around Myrtle Beach because of the number of forclosure real estate that is a second home or vacation home. There has always been a problem with short-sales because only 15% of them ever get finished and closed but foreclosure purchases were easier than you think until now. First the major banks withdrew real estate that they had listed for sale, then after a few days they relisted some properties but the days of an easy transaction seem to be over. A prime example happened only weeks ago when, on the day a foreclosure purchase was scheduled to close, the closing attorney received a call from the lender to say these were removing the property from the foreclosure process and it could not be sold. The household who thought they would be going in their great foreclosure home were left with outright a moving truck loaded with their furniture and no home.

There is also another factor, at least in this housing market, when you want to find the economical in Myrtle Beach homes it may be standing inventory new construction. A realtor has access to all properties listed for sale on the LOCAL MLS and that would include foreclosures and new construction.