The World’s ‘Best Beach’ Area Draws Interest from Canada to Colorado as Buyers Gear Up for Colossal Auction of Homes Sept. 29 in Myrtle Beach, SC

MYRTLE BEACH, S.C., Sept. 24 /PRNewswire/ — An area selected this year by Yahoo Travel! as having the “World’s Best Beach” and a Forbes Magazine 2007 pick for “100 Best Small Places for Business and Careers” is the site of a colossal auction of homes Saturday, September 29 that guarantees some will walk away home owners regardless of their bids. The live Myrtle Beach, SC auction is at 10:00 a.m. in the Marriott Resort & Spa at Grande Dunes, 8400 Coast Verde Dr.

Coastal Auction Company, a newly-formed area auction firm, is staging the auction in association with Tranzon Hagen, a Carrollton, GA-based company specializing in accelerated marketing and auction sales. To expand the auction audience, an on-line auction simultaneously is scheduled via http://www.BidSpotter.com.

More than 50 properties held by different owners will be auctioned in this huge ballroom sale, ranging from a 7.5 acre estate worth $10 million that sits two blocks from the beach and a $100,000 condo practically on the Coastal Carolina University campus to intercoastal waterfront lots and a development property in Atlantic Beach/N. Myrtle Beach already set to support a 30-floor condominium complex.

“This is a one-day sale where someone could buy a fabulous single-family home, waterfront lot or development property at prices not to be seen again,” says David O’Connell, a Coastal Auction Company owner who also operates Myrtle Beach Home Store.

According to O’Connell, real estate in Myrtle Beach has “hit rock bottom. Sellers who have held on hoping for higher prices are just in the last 60 days getting realistic. By next spring, though, prices may start to rise, so now is the time to buy.”

Already auction buzz has generated inquiries from as far away as Canada, Colorado and Texas as well as Florida. In fact, the term “half-back” was coined to denote the flood of Floridians relocating to states such as South Carolina that are half-way to the Mason-Dixon line,” says Joe Exum, an auctioneer and broker with Coastal Auction Company who believes this is the largest auction of varied properties ever held in the region.

“We’ll sell certain properties at absolute auction, so there’ll be new homeowners that day no matter what the bid,” says Kim Hagen, CAI, president of Tranzon Hagen and lead auctioneer for the event. “With prices softening, now is definitely the time to buy in such highly desirable second-home markets as Myrtle Beach. Regardless of how the economy is doing, people from all around the country still want to vacation in Myrtle Beach, an area known as the Seaside Golf Capital of the World and place named one of 2007’s 100 Best Retirement Towns in America by Where to Retire magazine.”

Interested bidders must register in advance and are required to bring cashier’s checks in the amount of $50,000 plus be prepared to settle within 30 days, buying properties “as is” with no contingencies. There is a 10% buyer’s premium based on the high bid. Directions to the auction from Myrtle Beach International Airport are: left turn onto Jetport Road. Turn right onto Harrelson Boulevard. Turn right onto Route 17 Bypass North. Turn right on 82nd Parkway going east. Turn right into the hotel.

For more information please contact Tranzon’s Meg Vavrick at (703) 539-8644 or mvavrick (at) tranzon (dot) com. Visit the Coastal Auction Company website at http://www.coastalauctioncompany.com.

SOURCE Tranzon Hagen

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