Homes in Myrtle Beach area keep on selling October real estate sales on the Grand Strand continued the upward swing of the past few months with a record percentage of properties purchased by cash buyers. Single-family home sales increased 8 percent and condominium sales were up 31 percent compared with the same month last year, according to statistics compiled Tuesday from the Multiple Listing Service. October was the fourth month with some increases in the real estate market and the second month of consistent increases in both the condo and single-family home markets. If there is another month with similar results then Tom Maeser, a research analyst for the Coastal Carolinas Association of Realtors, said he could call it a trend. About 41 percent of real estate buyers in October paid in cash, one of the highest percentages ever, according to Maeser. About 47 percent used conventional financing and the remaining 12 percent used other financing, including Federal Housing Administration, Veterans Affairs and owner financing. Cash buyers historically make up about 15 percent of the market. Many cash buyers are investors and as consumer confidence has picked up they are returning to the market, said Alex Holbert, the broker-in-charge of ReMax Town & Country. "The investors are the harbingers of the return to a robust market because when those cash buyers, investors, come in, they're speculating. They're the ones who think now's the time to get the deals," he said. Holbert said condo sales and the high number of cash transactions will translate into good spring sales after the traditional holiday season slowdown. Penny Boling of Century 21 Boling said she also expects sales will be good through the end of the year. Boling said low prices are driving the market. "Everything in real estate eventually falls to price, and the prices are just so good now people are actually making decisions to buy," Maeser said. Home prices continued to drop last month, but Maeser said he doesn't expect them to sink much lower. The median price - the price at which half sold for more and half sold for less - of single-family homes was $168,000, down 12 percent from the same month last year. The median condo price was down 10 percent to $131,000, a smaller decline than the 35 percent drop in price reported last year. Maeser said the first sign that prices will increase will be a decline in the percentage that prices are dropping, like the market saw with condo sales last month. Posted by Dale Johnson on November 12, 2009 at 05:19 PM About Dale Johnson I have been assisting buyers and sellers with all their real estate needs along the Grand Strand since 1984. My first 14 years in real estate was spent working with the area's largest real estate company as an onsite sales manger of new homes communities, selling oceanfront, golf course and retirement condominiums and single family homes. In 1996, I became the first Realtor® in the area to obtain the prestigious Certified International Property Specialist (CIPS) designation. During the time it took to get this designation, I developed a keen interest in technology and the use of the Internet. My website, www.realestatemyrtlebeach.com, went live on September 27, 1997 and is today, the longest running real estate website in the Myrtle Beach area. In 1999, I started my own company working from my home using the latest technology to sell real estate. My main thrust is assisting buyers in the residential and commercial areas with emphasis placed on investment properties. More recently, I was involved in the marketing and sales of two new homes communities and most recently, my partners and I have been become involved in the development of an Intracoastal Waterway condominium project south of Myrtle Beach. Literally, I have sold every kind of property from an efficiency condo priced at $39,900 to a mobile home park priced at $2,200,000 and everything in between. Being from the area and possessing a vast knowledge of the movers and shakers in the Myrtle Beach real estate market, I feel that I can help almost anyone with their real estate needs. If I can't, then I'll find the right Realtor® that can. The following 13 items are a testament to my qualifications as a professional Realtor® 1. 25 years experience in the Myrtle Beach real estate market 2. Accredited Buyer Representative (ABR) 3. Certified International Property Specialist (CIPS) 4. Real Estate Cyberspace Specialist (RECS) 5. Certified Residential Specialist (CRS) 6. Graduate of South Carolina Association of REALTORS Leadership Program 7. Graduate - Coastal Carolinas Association of REALTORS Leadership Program 8. Member - Board of Directors and Secretary of the Coastal Carolinas Association of Realtors (2003-2004) 9. Coastal Carolinas Association of REALTORS Realtor Image Award Recipient 10. Chairman of South Carolina Association of REALTORS Technology Committee (2004) 11. Coastal Carolinas Association of REALTORS Realtor of the Year – 2005 12. Coastal Carolinas Association of REALTORS President Elect – 2005 13. Coastal Carolinas Association of REALTORS President – 2006 As of 11/23/09 the Dale Johnson RePage is ranked at 108 with 3,095 points. The monthly top RePage owner will receive a cash prize. Help this agent by bookmarking this site and posting it to blogs and other Web pages and encourage others to visit.

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Local Information for Myrtle Beach, SC

Latitude: 33.704238 -- Longitude: -78.875453

Other Area Cities:   Myrtle Beach  Conway  North Myrtle Beach  Socastee  Murrells Inlet 

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Myrtle Beach is named for the many wax myrtle trees growing wild along the coast. The area is also called The Grand Strand and it stretches for 60 miles along the SC coast. Myrtle Beach is famous for being the place where Sports Illustrated magazine was conceived in 1953. Despite the rapid growth of the communities of the Myrtle Beach area, Myrtle Beach is still “small town America” at heart. Old churches with storied graveyards, plantation homes, and landmarks designed in the classic style of early America are a testament to the rich history of this area. Mild weather allows for year-round enjoyment of golf, tennis, baseball, biking, walking & Water sports. 13 million people visit the area each year which strengthens the economy. There are over 1800 restaurants, 100 golf courses, 8 live entertainment theaters and more than 300 outlet shopping stores. The median price home in this area is $180,000. -- Source: Wikipedia.com