Well Wow. Buying Frenzy. (Myrtle Beach, Murrells Inlet: HOA, condos, new house)

[AugiesMom]

We are willing and able to buy a home, just a two bedroom, two bath for hubby, myself and our old German Shepherd.
It's just gone bonkers.
Complete buying frenzy.
What is going on?
From a tired house or condo hunter.

[CTyankee54]

Too many people chasing too few houses. Between the shortage of materials as a result of COVID for building new houses, the influx of people wanting to move here (average 25+ families per day moving to the Grand Strand) and the dearth of people willing to sell their homes, and low interest rates, it's created a shortage of available houses on the market. When that happens, prices shoot up because multiple people want the same house and are willing to push the price they are willing to pay. Plus, the spring/summer is the busiest time of the year for people looking to move.



The market will eventually cool but IMO, that won't happen this year. You might have better luck waiting until the winter to buy when things tend to be a little slower.

[blueherons]

The market is crazy everywhere in the country.

[Igor Blevin]

We are in a another government fed housing bubble like 2002 to 2006. Remember 2008. That is coming. I have no clue when, but it is coming. Nobody can call a top. I am not in the market, but if I was I would be waiting it out.

I saw the last housing bubble in 2004 and waited until 2009 to buy. I missed the bottom at 2011 but I didn't get hosed at 2006 prices either.

We are in another bubble.

My only caveat is, the Myrtle Beach area has been very popular with solid high growth, so real prices are going up in MB. Not in the current feeding frenzy bubble type prices, but when the bubble collapses, MB homes are going to hold their values better than other places that are only appreciating due to the current housing bubble.

[AugiesMom]

It appears as though you can still get a nice condo for under $200k.
Very important to us, is a community that will allow our old German Shepherd dog in a quiet neighborhood.
Anyone here with recommendations?
No children at home. Just us and our dog.

Originally Posted by Igor Blevin

We are in a another government fed housing bubble like 2002 to 2006. Remember 2008. That is coming. I have no clue when, but it is coming. Nobody can call a top. I am not in the market, but if I was I would be waiting it out.

I saw the last housing bubble in 2004 and waited until 2009 to buy. I missed the bottom at 2011 but I didn't get hosed at 2006 prices either.

We are in another bubble.

My only caveat is, the Myrtle Beach area has been very popular with solid high growth, so real prices are going up in MB. Not in the current feeding frenzy bubble type prices, but when the bubble collapses, MB homes are going to hold their values better than other places that are only appreciating due to the current housing bubble.

[SmallTownJerseyBoy]

There are a lot of condos and HOA neighborhoods where people have German Shepherds. My Girlfriend's neighborhood in Murrells Inlet has a couple of them, and my Condo community in NMB allows all types of dogs. (I have an 7 year old GSD myself)