Myrtle Beach Housing Update

(I-Newswire) October 31, 2007 - As with the rest of the country, the Myrtle Beach market is a bit off of the amazing pace for New Construction and other home sales that the area experienced in 2005 and early 2006. Anyone that reads the paper, watches the news, or scrolls the internet is constantly reminded of the condition of the real estate market.

In most cases, people look at supply and demand as the factor that guides sales in an area. However, a key part of supply and demand is buying power. Supply and demand are both high in Myrtle Beach and surrounding areas– but, for many people, buying power is low until they sell their existing homes.

Here's a different angle for you: it's an outstanding time to build a house. Interest rates are low, lumber costs are very low, and labor costs are even lower. Further, the highest quality workers are more readily available than any time in recent history.

So what's the point? While a large portion of the market is hunkering down and waiting for their house values to come back – there is a great opportunity for a prudent buyer. Here's a scenario for someone that is willing to sell their house: yes, the value may be lower than it was just 1 year ago. However, in many cases building lots are going for as much as $50,000 less than their original asking prices. As for the building process, the "cost per square foot" is lower than it's been in years for reasons already mentioned. In other words, while the rest of the country is sitting by waiting for their home values to come back – you could be building your dream house at the beach.



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Dawol Homes, Inc.
3100 Dickpond Road
Myrtle Beach, SC 29588
Tel: 843-294-2859
Fax: 843-294-2863
Toll Free: 866-43-DAWOL

Company Contact Information
Dawol Homes