At Murrells Inlet Rotary luncheon this week we were happy to welcome the new CEO of the Coastal Carolina Association of Realtors, Laura Crowther. Mrs. Crowthers’ speech was centered on the Myrtle Beach, Georgetown, and Brunswick Real Estate Markets. During the 2007 fiscal year there were approximately 4,500 real estate agents licensed with the CCAR. This number has presently dropped by half. During the last couple quarters that number has slowly started to move upward most likely due to the high number of unemployed people seeking a lifeline.

She went on to say that our market is still attractive to second home buyers and investors. The Grand Strand area leads the State of South Carolina in Foreclosures with around 6,000 last year. With this many foreclosures statistics are showing cash buyers, investors pushing the Condo, Townhouse market. The point of sale tax law is still a huge obstacle holding back local Horry County real estate transactions. Buyers are realizing a significant increase in their property taxes over like kind properties in the same neighborhoods. With point of sale transactions you may have three identical homes in the same neighborhood with three different tax rates.      

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