Coastal REO Solutions, one of Myrtle Beach’s top troubled asset liquidation firms, has seen an unfortunate increase in REO (bank owned homes) and Short Sales along the Grand Strand. There are many factors for this and they can all be debated.  You can fault the economy, the real estate bubble, the fact that credit was too easy to obtain, and so on. However, one of the main things holding back the real estate recovery along The Grand Strand is the Point of Sale (POS) Tax Assessment also known as “The UNFAIR Tax”.

The long and short of this legislation is this – Two property owners own identical homes or investment property on a similar plot of land, one purchased before the POS and one after… (more…)