Condo: Lauderdale Bay #G-3103: 08/29/2012

Condo … Tax ID # 180-36-01-043
 
$164,900 … 15% ($30,100) Below Recent Sale (Avg.)
Sold $158,000
249 Venice Way, Unit #G-3103
Myrtle Beach, SC 29577
 
3 BRs, 2 Bathrooms, 1,725 GLA (Htd. SqFt), Built 2007

On Intracoastal Waterway, within ten minutes of ocean & airport

This property was hand-picked for The Certifax Report; it has since sold. These deals often go contract pending within days of our reporting. If you want our research, analysis and alerts so you can act fast, subscribe here.

 
This condo project was started around 2007, right after the market collapsed. It consists of 60 units; the developer still owns 16 units. Originally, the developer priced 3-bedroom units at more than $400K. Now the developer has them priced at $260K. Many people who bought at over $400K prices have gone into foreclosure.
 
This listing is the lowest price we’ve seen in the project; it’s bank-owned. On June 28th, a similar bank-owned 3-BR unit sold for $208,000. Prior to that, a 3-BR resale unit sold for $277,000 on August 5, 2011. Currently in MLS, the next lowest priced active 3-BR is also a bank-owned property with a list price of $182,000 (MLS # 1203328).

 

Lauderdale Bay Unit #G-3103, listed at $179,900, Built 2007
Compared to Recent Sales:

Unit in Lauderdale Bay BRs/Baths GLA (SqFt) Sales Price Closing Date MLS #
I-202 3/2 1,775 $208,000
06/28/2012 1202622
I-103 3/2 1,775 $277,000 08/05/2011 1109324
H-202 3/2 1,775 $279,900 07/15/2011 923411

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Bank Owned

MLS #1207246

Listing Office: Gabriel Financial Real Estate
Listing Agent: Tim Gabriel, REALTOR