With the real estate market slowing down Litchfield Beach has experienced what most of the rest of the community has experienced. However priced have not went down nearly as much as they have in Myrtle Beach, but Litchfield Beach foreclosures have been on the rise. In many case banks are allowing short sales in Litchfield Beach. This is because there are a lot of people who purchased a few years ago and their property is not worth as much today as they paid for it. A short sale is where the bank allows the seller to sell their property for less than what is owed.

Many times it is easier to purchase a foreclosure than a short sale. Short sales can be time consuming! Often times it can take from 4 to 12 weeks just to get a response from the bank. However when purchasing a foreclosure there can often be a lot of competition but there is a lot of opportunity to get a great deal right now on a litchfield Beach foreclosure!

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