John-B&Wsmall02Luxury homes for sale in Myrtle Beach, SC have taken the biggest value plunge of any Myrtle Beach properties. Many of these luxury properties are selling for 50% of what they were selling for in 2006, and they are generally 20% below their value in normal market conditions. Homes in Grande Dunes, Plantation Lakes, The Bluffs, Plantation Point, Dunes Club and North Beach Plantation are priced at levels local agents never thought they would see.

Savvy investors have caught on and have targeted distressed properties in these neighborhoods and also with oceanfront homes and oceanfront condos for sale. Many investors have told their realtors that they missed out on distressed market conditions in the 1980’s and have been waiting for this prime buying market for years. Now that it is here, they are not going to sit by and miss out on another opportunity.

Many luxury homes in Myrtle Beach that are distressed bank owned homes are seeing multiple bids and sold prices above the list pricing. These are still going for well below their normal market value and will provide these investors with an unbelievable return on investment when the market conditions return to normal, which will be sooner than many experts estimated a year ago.

Pricing in some neighborhoods has not only stabilized, but also has started to see a slight increase for the last five consecutive months. Be sure to find an agent with an extensive knowledge of the luxury home market in Myrtle Beach, SC, as they will be able to guide you through the foreclosure process and make starting your real estate investment portfolio a huge success!

Take some time to view these Luxury Homes in the Grande Dunes.