Carolina Forest is the area west of the Intracoastal Waterway between Highway 501 and International Drive. The first communities of Waterford Plantation and Spring Lake were developed in the late 90s, and the area rapidly developed thereafter. It is no wonder that the Carolina Forest area was one of the most hit areas of Myrtle Beach when it came to short sales, as most of the developments were sold out during the Myrtle Beach real estate boom of the mid 2000s. Although the prices have started to go back up recently in the Carolina Forest area, there are still some opportunities to gain instant equity in your home or condo with a short sale purchase. Many have gotten a sour taste in their mouths over the past several years with the process and uncertainties surrounding the purchase of a short sale. The process has gotten better for the most part, and many times short sales are the best way to purchase a property at a great value.
Avalon and Bellegrove were hard hit communities that saw a lot of short sales because many investors purchased in those communities. As expected, ones investment property is the first to go when times get tough. Plantation Lakes is another community on the upper end that noticed a significant amount of short sales. This community saw so many as a community where many purchased to "Keep up with the Jones's". Although the short sale market has slowed some as the prices start to creep back up, there are still some great deals to be had if you have the patience.
Diamond in the rough at one of the most popular communities on the Grand Strand! This large 5 bedroom, 3 1/2 bath home features a formal dining room, large kitchen that o...
Listing courtesy of Palmetto Coastal Homes , Jennifer Mullen.
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