Archives for January 2012

Murrells Inlet Neighborhood Spotlight – Indigo Creek

When it comes to established Murrells Inlet neighborhoods in a nice quiet setting Indigo Creek just off Highway 17 Bypass offers a variety of home styles and price points with many located on the Indigo Club Golf Course.  Since it was first developed in the early 90’s Indigo Creek has grown to over 600 residences with a few select home lots remaining and has attracted new residents from all over the country over the years.

The 7 member HOA board at Indigo Creek in Murrells Inlet consists of residents from various backgrounds and is very mindful of keeping down costs for homeowners and works closely with K. A. Diehl & Associates the HOA management firm for the community.  Committees reports are presented to homowners by way of a quartely newsletter to keep all residents informed on matters important to Indigo Creek homeowners.   In addition they also provide many volunteer & social opportunites for residents to interact with fellow homeowners on a regular basis.

Indigo Creek HOA fees are low at $46 per month and there is a community pool and clubhouse for residents to enjoy.  With an average sale price hovering just above $183k home prices are very affordable and average days on market is 142 days for the 19 homes sales to date.

Indigo Creek is located in Horry County and the St. James School District and could be the ideal spot for your new Murrells Inlet home.  Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.



Pawleys Island Real Estate Market Summary for 2011

Pawleys Island home prices fell over the last year ending the year with a median sale price of $285,000 for single family detached homes.  Prices fell 23.9% year over year in Pawleys Island.  There were 204 single family homes sold along the Waccamaw Neck with a 5% increase in the number of homes sold over the period.

The number of distressed sales held steady in the Pawleys Island area at 20.6% over the last year accounting for 42 of the 204 single family homes sold.  Pawleys Island home prices have been higher than other areas of the Grand Strand.

Grand Strand Home Sales 2011 Review

Short Sales to rise in 2012With 3731 single family detached homes sold along the Grand Strand in 2011 the Myrtle Beach real estate market picked up more unit sales over 2010 by 3.5% while the median home sale prices fell 6.1%.  Not bad when you consider Horry County has the third highest foreclosure rate in South Carolina but unfortunately some neighborhoods have greater value losses than others as goes the local nature of real estate.

Overall distressed sales increased 3.75% year of year with Horry County seeing the largest increases in foreclosure sales but in Georgetown foreclosures sales increased 71.4% 2011 and is the hardest hit area in Georgetown County a likely result of the job losses in the area when the ArcelorMittal steel mill closed in June 2009.  The mill has since reopened and will hopefully help stem the tide of foreclosures in our port city.

Short sales increased 41.7% over the last year in the Myrtle Beach area and this is likely a good sign that will continue into 2012 and will help all homeowners as this alternative to foreclosure should help home values from futher declines.  In the past short sales had long approval timelines but lenders have implemented programs to increase approvals making closing rates much higher and added other welcome improvements to help distressed homeowners that are unable to pay their mortgage.