Litchfield Beach, SC

Posts Tagged ‘Foreclosures’

With the real estate market slowing down across the country and the economy in a slum commercial real estate in Pawleys Island has suffered some as well.

Many people don’t realize it but commercial real estate follows the economy. When the economy slows many shops and business close leaving vacancies and it takes longer to fill these vacancies. Pawleys Island Commercial Real estate is a little different than most area because the amount of commercial space is fairly limited. The Pawleys Island area has managed to keep a very low density policy and not allowing big box retailers into the area.

Litchfield Beach commercial real estate is very similar in that there just is a very limited amount of space left to build new commercial buildings and retail spaces.

Most of the country has been experiencing a slump in the real estate market, cause foreclosures to rise dramatically. Litchfield Beach foreclosures have risen but not like the surrounding Myrtle Beach, SC area.

Foreclosures in Litchfield Beach, SC have been few and far between. When bank owned Litchfield Beach properties have come available in the area they have been bought quickly.

The Litchfield Beach area has been very popular for second homes, vacation rentals and primary residences. Resorts like Litchfield By the Sea offers condos in a gated full service resort with restaurants, coffee shops, a gym and private access to the beach. Many of the communities down Willbrook Blvd offer access to Litchfield by The Sea through their home owners association. Litchfield by the Sea foreclosures are not very common, many times these properties are being sold as short sales. Litchfield by the Sea short sales have been more common. This is where the bank agrees to accept less than what is owed on the property.