Slow Real Estate Market Turns to Hard Solutions
(PRWEB) October 19, 2007 -- The slow real estate market in Myrtle Beach has made nervous sellers, buyers and realtors become more creative in their approaches to moving property. This search for the "magic bullet" has spawned more than one new idea in marketing. The latest brainchild - auctions- is new to the area but not to the rest of the world.
"Over 90% of the real estate worldwide is sold through auctions," said Jeremy Bass, President of Executive Auction Firm, Inc. "When there is a significant shift in perceived value, the market will correct itself. This is what we are currently experiencing in the real estate market. Historically, resort markets have been somewhat insulated from major shifts in the national economy, due to the uniqueness, amenities and emotional lure of these areas. But the magnitude of nearly unparalleled national financial turmoil has left us staring into the eyes of a financial dragon."
Several factors have hampered the good health and growth of real estate nationwide, and it's now hitting hard in resort markets such as Myrtle Beach, SC. An incredible overabundance of properties, a tighter & more restrictive lending environment, skyrocketing property insurance and HOA fees top the list. Bass's firm plans to overcome these impediments by holding auctions featuring high value properties that can potentially be bought at a bargain basement price. In addition, many of the properties are being offered with 100% owner financing to the high bidder, with no bank qualifying.
As to the problematic insurance and HOA fees, "Some things are best left to the regulatory and legislative authorities," said Bass. "The positive effect is that people who desire property-ownership in a resort market can now realize that goal-even with unbelievably poor credit, since many of our sellers will owner-finance to anybody, just for debt-relief. Savvy buyers know that when property values have hit rock bottom and prices are down, auction signs go up.
Executive Auction Firm will hold its next auction at the Grande Dunes Ocean Club on October 27 from 11am to 2 pm. For more information, please visit www. ExecutiveAuctionFirm.com or call Executive Auction Firm, Inc. at (843) 839-9855.
###
Related Articles:
Online Marketing Firm in Arizona, Sitewire Marketspace Solutions, to Improve Leading Internet Direct Mail Solutions Provider AmazingMail's Online
Sitewire Marketspace Solutions' new client AmazingMail provides direct mail advertising solutions allowing its customers to stay competitive in an aggressive market.
This Is How You Play Fearless Golf
The person who is relaxed and confident plays a better game of golf than one whose knees are shaking at the thought of sand traps. Fear is one thing you never want to take with you to the driving range.
The Ledges of St.George Makes Golf Digest's Prestigious "Best Of" List
Golf Digest recently released their list of the best new golf courses in America and a Utah course made the list. The Ledges Golf Club of St. George was ranked #5 for best new public golf courses with green fees of $75 and above.
Why Commercial Real Estate is the Hottest Retirement Asset
For small business owners, commercial real estate investment is the hottest new retirement asset. If your mind has already jumped to "REITs" — or shares in Real Estate Investment Trusts — think again.
Charleston South Carolina Luxury Real Estate Broker William Means Closes Luxury Property Lowndes Grove Plantation for $6.5 Million
Luxury real estate firm William Means Real Estate completed the sale of Lowndes Grove Plantation, the only surviving plantation on Charleston's downtown peninsula. At $6.5 million, it's the second highest closing price in the history of real estate sales in Charleston's historic district, and is one of a handful of recent record-breaking sales in the area.
Loyalty Builders' CEO Offers In-Person Review of Longbow Customer Report Card at ACCM
Predictive marketing experts Loyalty Builders today announced a special invitation for attendees of the 25th Annual Conference for Catalog and Multichannel Merchants ( ACCM ) which is being held May 19-21st in Orlando, Florida. Any business that uploads their transaction data for the free Longbow Customer Report Card by May 13 may sign up for a private session at the ACCM with Loyalty Builders' CEO Mark Klein to review the results.
California Seniors Rate Abbey Caregivers
Through an independently issued and verified controlled survey of a combination of current and past clients, Abbey Caregivers was provided the opportunity to allow their customers to rate their experience with Abbey.
Finding Air Conditioning Contractors in California
Finding air conditioning contractors anywhere in the world can be difficult, however the matter of finding air conditioning contractors in California is especially hard. This is largely due to the fact that there is a great need for air conditioning contractors in California in general.
Loyalty Builders Debuts Longbow, Defines Next Generation of Direct Marketing
Longbow brings powerful 'Mathematical Marketing' to the web in a fast, easy-to-use, affordable system.
How To Find Out About Real Estate Foreclosure Properties
Today investing in real estate foreclosure is considered to be one of the most intelligent and well thought out strategies for gaining money and getting rich. The procedures that are used for mortgage foreclosure provide us with 2 opportunities in real estate foreclosure when a suitable agreement can be made.