An article on WMBF news, revealed residents of the North Beach Plantation community is concerned about the new management trying to turn empty units into timeshares. These residents are worried that this new condo development will lower their home values.
Apparently, Horry County Register of Deeds shows the previous owners of the mortgage had defaulted on their payment and was sold to Starwood Capital Group this past December. When asked to comment on the potential timeshare plans, the company did not respond to any request made.
Blake Sloan, a real estate expert, stated that the property owners have a right to be concerned if the new management plans on turning empty units into timeshares. However, there is no proof that timeshares will decrease
“property value of owner-occupied units”. In addition, with the right management, timeshares could benefit the condominium as a whole by allowing management to seek out better maintenance.
Sloan also stated, “”I think it’s definitely a reason to be concerned, but at the same time after actually seeing some data in regards to what happens when a timeshare or vacation ownership does come in there, in times like that it can actually be a benefit”.
If you are a owner of a timeshare and wish to rid yourself of your unwanted timeshare, contact Transfer America today so that you can visit the wonderful Myrtle Beach.
