The Trembley Group Real Estate Sales Executives routinely field calls from our neighbors to the north. The Myrtle Beach area is a frequent year-round vacation destination for people from the northern United States and even our neighbors from across the border in Canada. In fact, The Myrtle Beach area is such a common destination for Canadians that the local Chamber of Commerce hosts an annual Canadian American Days Festival.
This year’s festival will be the 56th and is scheduled for March 11-19, 2017. That’s the time when the Myrtle Beach Chamber of Commerce rolls out the red carpet and welcomes our neighbors from the north to America’s favorite playground – Myrtle Beach, South Carolina. Regardless of where they’re from and regardless of whether they’re interested in a permanent move or a second home, many of our annual visitors decide to explore the ownership possibilities in the area and the Sales Executives at The Trembley Group are more than happy to oblige.
Many Canadians and Americans have a dream of leaving the cold weather behind and spending the winter months someplace warm. That’s a goal for many northern North Americans, especially in their retirement years. Once they’re no longer tied to an office or factory, they have more free time for leisure-based pursuits. The Trembley Group Sales Executives understand that. Take a minute and view their profiles on their website. You’ll see that many of them were snowbirds once, too. They were born and raised in the north – places like Illinois, Wisconsin, Ohio, Pennsylvania, New York and Toronto. They’re here by choice – because they love the Myrtle Beach area. They know the ins and outs of moving to Myrtle Beach because they once did it themselves.
Ingo Winzer is a regular contributor to Forbes Magazine. He is the president of Local Market Monitor, experts in local real estate markets since 1989. Wizner recently assessed the Myrtle Beach market for Forbes and concluded, “If you’re planning to buy a home do it now, because prices are going up for the next few years”. Investments in single-family rentals have good potential throughout the area, but best in Myrtle Beach.”
According to Winzer, “The retirement coast starts in Wilmington, North Carolina, and moves down through Myrtle Beach. The two purest retirement markets – Myrtle Beach and Hilton Head – are growing the fastest: three times the national average. I expect home prices to rise 15 percent in Myrtle Beach over the next three years.” Fifteen percent. Five percent per year. Not bad. Try to find a bank CD that will return five percent these days. And you can’t spend the winter (nor would you want to) in a bank vault, either.
Myrtle Beach is one of the top domestic tourist destinations in the continental United States with sixty miles of sandy white beaches along the beautiful Atlantic Ocean (the Grand Strand). It’s a snowbird favorite. Myrtle Beach has more than two hundred sunny days each year, making it a winter paradise and a haven for beach goers looking for endless hours of swimming, surfing, fishing, sailing, or other sun and sand activity. There is always a warm ocean breeze and the constant smell of salt air. Evening strolls along the Myrtle Beach Boardwalk or Murrells Inlet’s Marsh Walk offer an extraordinary variety of full-service restaurants, offering every cuisine from southern soul food to Japanese to Greek to seafood buffets. It’s guaranteed that there is something to suit everyone.
In “The Golf Capital of the South,” golfers can enjoy playing on some of the country’s most beautiful and challenging courses, while art aficionados can enjoy a show at one of the eleven live-entertainment theaters that host big-name performers, country music stars, and Broadway revues. The Myrtle Beach area offers something for everyone. Myrtle Beach is the perfect place for a Snowbird’s summer, winter or retirement home. Those who retire here, even the Canadian “snow birds,” can live the lifestyle that brings millions of tourists to Myrtle Beach each year.
And for many snowbirds, the prospect of investing in a vacation home is enticing. The home can be rented when not occupied by the snowbird. An array of tax deductions combined with the prospect of earning equity in a property while someone else pays the mortgage sounds appealing to the average investor. It should, as the trend of buying vacation rentals is beginning to heat up across the nation. Adding a vacation rental with a positive cash flow during the high season is a great way to diversify an investment portfolio. Along with increasing home values, the price-to-rent ratio in the area makes Myrtle Beach a top investment spot for vacation rentals. The Census says that another 2 million Americans will reach 65 every year for the next fifteen years. Baby-boomers. The Trembley Group Realtors anticipate the market for vacation rentals to stay strong.
In a recent Fortune Builders article, Konrad Sopielnikow wrote, “New rental opportunities are best in Myrtle Beach, which has the fastest population growth. In Myrtle Beach, fast growth will increase rental demand faster than supply can keep up.”
And according to National Association Realtor (NAR) chief economist Lawrence Yun, “Steadily increasing home prices and strong rental demand appear to be giving more individual investors assurance that purchasing real estate will diversify their portfolios and generate additional income if they decide to rent out the home.”
Until recently, Myrtle Beach has been a transient area. People vacationed here but it was more of a secondary lifestyle than a permanent one. That is now changing. With the strong overall Myrtle Beach real estate market, people are realizing that if they opt for home ownership, they can always resell their home, get their money out of it and likely make a profit. It is a much more financially stable situation.
Myrtle Beach real estate offers something for everyone, from one bedroom condominiums to six bedroom mansions on the water. In weighing the options to invest in oceanfront real estate, resort property, a beachfront vacation home, or a permanent retirement home, here are a few final considerations.
The cost of living in Myrtle Beach is low. Myrtle Beach is one of the only resort areas on the east coast that offers real estate prices affordable for most everyone, even someone on a limited income. Grocery prices are some of the lowest in the nation. Myrtle Beach doctors and hospitals are first-rate and charge about 1/3 of what it will cost you for the same care in an area like Miami Beach or Las Vegas. Myrtle Beach property taxes are exceptionally low.
Myrtle Beach offers busy summers and mild winters and four seasons. From the greening in the spring to the crisp, clean air in the fall, to a Christmas spent by the fireside, Myrtle Beach has four seasons. None of them are extreme. The South Carolina coast has a distinct summer season that offers everything you would expect from a family resort area. The summer is followed by a long, warm fall and spring season with little traffic, few tourists, and all the attractions that a resort area offers. Most cater to locals and reduce their prices dramatically in the off season.
Prudent buyers would be wise to take advantage of the friendly market conditions in Myrtle Beach. However, there are a few risks inherent in buying real estate when you are currently living in another state or another country. That is how the Trembley Group Real Estate can help. The Trembley Group Sales Executives can help navigate through the intricacies of the local real estate market. They can offer expert advice as to the fair price for a home, which neighborhoods better than others, which neighborhoods up and coming and which are declining. The Trembley Group Sales Executives live and play in Myrtle Beach and know the answers to these questions and probably a few you haven’t thought to ask. The Trembley Group is a team you can trust and have experience helping out-of-state buyers.
Need help? Call The Trembley Group at 843.945.1880 ext. 100 and we’ll help you look for the perfect listing or buyers agent!
At The Trembley Group, we pride ourselves on being the experts at more than just selling real estate. We are local residents, some of us have been here for a lifetime. The rest of us will be here until the end of time. We love living, working, and playing in the diverse backyard of Coastal Carolina, and look forward to helping you live and love your dreams soon too. Please reach out to us by phone or email for personalized service and one-on-one advice.