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Foreclosure sales drop in second quarter in Myrtle Beach area

The decline in foreclosure sales might be because “banks are doling out properties a little at a time because they don’t want to put a lot out there at the same time, which drives prices down, they miscalculated the demand and put more out [in the market] than they should, or because prices are going up now and the higher the price point with foreclosures, the lower the demand,” said Roger Fouch, a Realtor with Coldwell Banker Chicora’s Carolina Forest office, whose specialties include foreclosures and short sales.

Also, “those waiting to buy jumped off the fence and bought during the first quarter” because Realtors said at the time that prices had bottomed out, Fouch said.

About 30 percent of single-family home sales and about 34 percent of condo sales along the Grand Strand still are either foreclosures or short sales, about the same as last year, said Tom Maeser, a real estate analyst with the Coastal Carolinas Association of Realtors.

In South Carolina, there were 2, 222 homes that were in some stage of foreclosure or bank owned that sold in South Carolina, down 15.09 percent from the first quarter and down 17.31 percent from the second quarter last year, according to RealtyTrac.

Even though foreclosure sales are down in Horry County, foreclosure filings were up April through June this year compared to the same time last year.

About 1,205 Horry County properties had foreclosure-related filings in the second quarter, up about 17.91 percent from the same quarter last year, according to RealtyTrac. Most of those filings, 609, were lis pendens, the documents lenders file to start the foreclosure process.

About one in every 154 properties in Horry County has a foreclosure filing, the fourth-highest rate of foreclosures in the state behind Dorchester, York and Berkeley counties, according to RealtyTrac. Statewide, about one in 215 properties have foreclosure filings, the 12th-highest rate of any state in the country, according to RealtyTrac.

Exhibitors to showcase products, services at home, outdoor living show

About 200 exhibitors are expected to showcase their products and services at this year’s Home Improvement Outdoor Living Show.

“We still have a few spaces available,” said Rose Anne O’Reilly, executive vice president of the Horry Georgetown Home Builders Association.

The Horry Georgetown Home Builders Association’s event, presented by The Professional Remodelers Council, will have exhibitors, speakers, workshops, seminars and demonstrations.

Attendees can anticipate finding anything for remodeling the home and for outdoor living areas at the second annual show.

The Sun News is one of the sponsors of the show, which will be from 10 a.m. to 6 p.m. Sept.14 and Sept.15 and 11 a.m. to 5 p.m. Sept.16 at the Myrtle Beach Convention Center, 2101 N. Oak St.

The cost is $5 per adult and free for children under 16 years old.

For more information or to become an exhibitor, call O’Reilly at 438-4124.

Landlord workshop to be held this month in Myrtle Beach

A landlord workshop by the Housing Authority of Myrtle Beach and Full Steam Ahead, Inc. Fire and Water Restoration will be held this month in Myrtle Beach.

The free event will take place from 8 a.m. to noon Sept.13 at The Caribbean Resort Conference Center, 3000 North Ocean Boulevard, Myrtle Beach.

The workshop will include topics on mold intervention, heating and cooling maintenance, bed bug prevention/treatment, housing choice voucher program, housing quality standards and the Veterans Administration Supportive Housing Program.

To pre-register, contact Theresa Ross at t.ross@mbhaonline.org or call 918-1560.

Article source: http://www.myrtlebeachonline.com/2012/08/31/3030335/foreclosure-sales-drop-in-second.html

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