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Welcome to the Life In Myrtle Beach blog where we hope to provide a wealth of information for you, whether you will be vacationing in Myrtle Beach, making this your second home location or moving to the area and becoming a "local" yourself. Feel free to ask any questions you have and if I don't know the answer...I'll find it for you!

Being a Realtor, I'll have plenty of Real Estate news to discuss, whether on the local, state or national level...I feel this is an important part of any person's decisionmaking process when considering a move or a purchase in any particular area of the country. However, since I don't want to bore you with just a bunch of facts, numbers and endless listings of properties for sale, I do hope you enjoy the "fun stuff" I'll share, too!

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Brought to you from Staci Smith at Phillips Realty

Thursday, October 11, 2012

Housing Recovery Finally Here

Great News from CNN Money report.  I know we've seen the signs around the Myrtle Beach area, with more buyers in the market and prices ticking up slowly in certain areas.  Condo sales are up almost 25% from this time last year!  Here is the article from CNNMoney...


Economist say Housing Recovery is Finally Here

NEW YORK (CNNMoney) -- It's been a long time coming, but economists surveyed by CNNMoney believe the nation's housing market has finally turned the corner.
Of the 14 economists who answered questions about home prices in the survey, nine believe that prices have already turned higher or will make that turn later this year. Only three months ago, half of the economists surveyed by CNNMoney believed a turnaround in prices would not take place until 2013 or later.
Economists have been encouraged by a variety of readings, including three straight months of increases in the S&P/Case-Shiller home price index, a pick-up in sales of existing homes and home construction and a big jump in the price of new home sales.
Mortgage rates are also likely to remain near record lows thanks to the Federal Reserve's purchase of $40 billion in mortgages a month for the foreseeable future.
"We're seeing the signs of a pulse in a sector that has been flat-lined for a number of years," said Sean Snaith, economics professor at the University of Central Florida.

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