The real estate boom of 2004-2006 brought about the biggest surge of preconstruction that Myrtle Beach has ever experienced. Then, not without warning, the bottom fell out.
Many of the people who purchased the preconstruction condos at the end of the period did so with the intention of "flipping" them. The ones who bought early made a lot of money. The ones who waited either tried to find a loophole to get out of the purchase, or got stuck. Between the ones who managed to get out of their purchase agreement and the ones who have now ended up in foreclosure, there are hundreds of these new condos available now. Many are being sold as short-sales, and others are so low the sellers can barely break even.
There are still actually a few preconstruction projects still going on, such as North Beach Plantation near Barefoot, and Tiffany Park in Myrtle Beach.
If you are interested in Myrtle Beach foreclosures or new construction, contact us on our Myrtle Beach real estate website, www.MyrtleBeachCondoStore.com.
