The MLS report says that foreclosure homes sales only grew 4 percent compared to the March 2010 sales. Single-family units took the lead for the increase with the sales for condominiums slightly decreasing by 1 percent. It seems that condos are taking most of the hit from the market.

But the market for homes for sale in Myrtle Beach, particularly the single-family homes are continually growing as many buyers become interested in this type of foreclosure. Market analysts say that the market interest is spawning a new wave of sales activities and may be helping stabilize the market for single-family homes.

On the other hand, sales of condos in the area are slacking off primarily due to the lack of financing programs for beachfront condo properties as well as to the increasing volume of condo foreclosures.

South Carolina foreclosures for sale have been getting a lot of inquiries from interested buyers despite the lack of any sharp decline in the average home median prices. It seems that buyers are quite happy with a 4 percent drop in the median price of single family housing units.

Cash transactions also seem to dominate the market with 65 percent of the residential foreclosures buyers paying their purchases in cash. Only 37 percent relied on traditional loans while 5 percent coursed their purchase through government financing programs.

Buyers who pay in cash are most welcomed by foreclosure sellers. In fact, their aggressiveness has helped clear up the inventory for foreclosed properties. Analysts say that if the cash-buying trend continues, the market can soon heave a sigh of relief and recover.

Still, the lack of financing is keeping other buyers at bay. Realtors say that more foreclosure condos could have been sold if it were not for the absence of any source of financing for these properties.

The approaching summer sales season is also showing some positive signs of market activity. Real estate offices are now running their phone lines answering inquiries for residential foreclosures. And the situation is making many sellers happy and confident that the end of the sluggish sales season could now be over.

Although there are very cheap foreclosures in Columbia, SC that homeowners can find, a lot of them are staying put in their old homes, mainly because majority of Americans are still wary of investing in a new home. In addition, most of them would need to sell their homes first before they can get a new one and this has proven to be a challenge with the current condition of the residential market.

This has led thousands of homeowners to focus on home improvements instead of looking for foreclosures in South Carolina and distressed properties in other U.S. regions. The improving economy and the growing confidence of Americans that they will be able to retain their jobs have also been cited by housing market analysts as parts of the reason for the growing number of homeowners seeking home renovation services. Furthermore, most families who have decided to move out of their homes and seek a new dwelling are finding it hard to secure financing for their purchases.

The increase in the number of home repair customers has led to improved conditions among home improvement companies, data have shown. Home improvement retail firm Lowe's Cos. has reportedly upped its seasonal hiring by around 15% in the past few months as more homeowners approach the firm for maintenance services, with majority of these homeowners deciding to pursue home improvement plans that they put on hold during the recession.

Another sign that more people conducting a foreclosed home search are opting for renovations instead can be seen in the performance of the biggest house improvement retailer in the country, Home Depot Inc. The company released its annual sales report in February 2011, revealing that it posted a sales increase for the first time since 2006. Analysts have stated that the weakness in the housing market is proving to be beneficial to home improvement businesses.

They further revealed that increased demand for home repair services showed that consumers are gaining confidence in their jobs and in the overall economy. However, analysts also stated that it is a cautious confidence and is still not enough to push consumers towards home buying.

South Carolina has a bounty of beautiful buildings, the saga of which spreads far and wide. Moreover, the availability of Repo Houses is a further boost for the property business of Carolina. So, during the foreclosure searches, people also get to know about the repossessed properties. Thus, the zeal to buy them also cannot be overruled. There are lots of sites that pave the way for people to possess such homes. One can find lists of such homes on these sites. So, the idea is just to choose one and bid for it. The rest depends on how good your bid is and whether the agent is willing to sell the property.

The best part of the Repo Houses is that they are available at very low cost. The money value of these houses is actually a reduced price in comparison to their original value. Thus repos have become the desire of all. Moreover, the banks or government agencies that lend out such properties make sure that the home is maintained well. So, whenever, one buys such houses, there is no need to pay for repair charges as the property is in a good condition.

South Carolina has exquisitely built buildings and spread over a large region. So, while searching for such properties, one need to provide details such as city name, Zip code, price of the desired property and whether it is meant for single family. Having done so, the list of all available houses in the South Carolina Foreclosures is displayed. Then one can further zero in on the search by mentioning the number of rooms required and the locality preferred. The list of all foreclosed and repossessed properties is then shown. People can then bid for the property that they like the most.

Need for an agent in South Carolina

The foreclosure proceedings are complex in South Carolina, as only judicial proceedings are allowed. As a result, a lot of paperwork is involved. As a first-time homebuyer, it will be difficult for you to go through the entire paperwork. With the help of an agent, you can easily clear judicial proceedings without any hassle.

Contact homeowner directly for cheaper properties

Rather than competing with others in the public sale, you can directly contact the homeowner and help him prevent foreclosure completely. At this point, you can strike a better deal with the homeowner as there is no bidding on the house. Without a local agent, you cannot successfully talk with the homeowner directly. The agent will convince the homeowner to sell the house for you at a price you are ready to afford. It is quick and the only way for the homeowner to prevent his house being put up for a public sale.

When the home for sale receives no bid during public sale, it will be re-owned by banks for sale in the future. Most of the banks hire real estate agents to sell those homes. With the right agent, you can deal with real estate firms easily and buy the home at a much lower price.

Cost of hiring an agent

The real estate agent will charge a percentage of the price of the home to close the deal for you. On the other hand, if you are expecting consultation alone, you may be charged a fixed price. The service you need from an agent depends on your experience in buying foreclosure homes. Several websites on the internet provide you access to local real estate agents, who have experience in dealing with South Carolina foreclosures.