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We’ve included our first quarterly letter of 2008 from Prudential Carolina Real Estate in Charleston. This letter to the public will be published in this Sunday’s Post and Courier (as it always is), so we’re getting it to our clients before it hits the press!    February 17, 2008   To our friends and neighbors,   Periodically we share our thoughts with you about our local real estate market. 45 days into a new year and looking toward spring, it seems a good time to do that again. The two questions on everyone’s mind are: “Is my financial investment in my home safe?” And, “Is this a good time for me to buy or sell?”   We all know there are some current challenges in the housing market, but there is also much good news that often gets buried…

We wanted to pass along a new home listing at Folly Beach with a great dock and boat access.  The private dock has a shower, a sink, refrigerator/freezer, and lights.  It also has a 35 foot floater with the capability of driving a 17 foot boat onto it.  The home has its own boat landing, so you'd have easy access to water.  This house has great waterfront views, plus a lot of extras - granite countertops in the kitchen, hardwood floors throughout, a wood ceiling in the great room, new fixtures throughout, and a backyard bar-b-que/grilling station.  If you're looking for a Folly Beach house with good boat access, you should check this one out!  More info 

We’ve included a list of everything you need to get started on your home loan.  These requirements are standard for any lender.  Depending on the lender, you may not need all of this information upfront, but they’ll request the following at some point during the loan approval process.    

 

1.  Pay stubs for the most recent 30-day period.

2.  Bank statements for all your accounts (checking, saving, 401K, etc.) for the last 2 months.

3.  W-2 tax statements for the past 2 years (if you’re self-employed or have a commission-based income, you’ll need to provide personal and business tax returns for the past 2 years along with your most current year-to-date profit/loss statement).

4.  Employer info (name, phone number, and address) for your

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This new listing at Turtle Bay has views of the marsh and Folly River.  This marshfront home at Folly Beach includes a deep water boat slip, too!  It has 3 bedrooms and 3 baths with 1,550 sq ft.  The kitchen has granite countertops, the living room has built-in bookshelves, the first floor has hardwood floors, the master bedroom has a walk-in closet and access to the deck with Folly River views, and the master bath has double sinks and separate shower and Jacuzzi tub.  The home also has a screened porch and a 2 car garage.  Turtle Bay is one of the newer marshfront communities at Folly Beach.  It’s a short bike ride to the beach, and about a 10 minute drive to downtown Charleston.  This home would be ideal for buyers looking for waterfront or marshfront

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We will be hosting an open house this weekend in Rivertowne Country Club in Mt. Pleasant.  We are very excited about this new listing, since Rivertowne is one of the most desirable communities in Mt. Pleasant!  We’ve priced the house very well for the lot size, upgrades, and location.  This single story home has one of the most open floor plans in Rivertowne.  The house sits on a corner lot and has .49 acres.  The backyard is one of the largest you’ll find in this price range. It is fenced, sodded, and has plenty of room for pets or outdoor activities!  The lot sits across from the 12th hole of Rivertowne’s golf course, which was the Arnold Palmer LPGA Golf Course for 2007.  Neighborhood amenities include the golf course, swimming pool, tennis courts, and

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Today’s market benefits two groups of buyers:  first-time buyers, and buyers moving up.  It is an excellent market to buy, especially if you don’t have a current home to sell.  For this reason, we’re seeing a lot of first-time home buyers opting to buy instead of rent.  Since these first-time buyers are not having to make contingencies to sell a home before buying another, they are able to use that negotiating power elsewhere (price, for example). 

 

Even if you have a home to sell, it’s a very good time to move up.  It may take a little while to sell your current home, and you won’t get for it what you would have gotten even a year ago.  But, remember that you’ll also be paying considerably less for the home you’ll buy if you’re moving up.  For

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For home buyers looking for newer houses on James Island, we’ve included a list of the most popular neighborhoods.  These are also some of the newest communities on James Island.  Click on the neighborhoods to view the homes currently for sale!

 

Jamestowne Village is known for its Charleston style houses.  These were built from 2002 to 2004, and current prices range from $270,000 to $290,000.

 

Ocean Neighbors is one of the closest communities to Folly Beach with newer homes.  Built from 1999 to 2005, these homes range in price from $290,000 to $425,000.

 

Lawton Harbor was built from 2002 to 2004.  Prices right now are from $310K to $350K, so it does not have as big a range in price compared to other newer communities.

 

Westfield Place

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James Island is one of the most popular areas to live in Charleston, SC.  While some buyers want newer homes, many buyers seek older homes for the larger lots and the brick exteriors.  On James Island, you’ll find these two features more in the older homes than the newer homes. 

 

The majority of residential communities in this area are older, established neighborhoods.  So, you’ll find quite a few to choose from.  We’ve included some of the more popular established communities on James Island below.  You can use the links to see the homes for sale in that neighborhood.     

 

Riverland Terrace is a marshfront community that overlooks John’s Island.  Many buyers like this community because it’s within walking distance of the Charleston

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Many of the Charleston areas (like James Island) have a much larger selection of condos on the market compared to townhouses right now.  However, there is quite a demand for townhouses in this area since so many buyers want a close proximity to downtown Charleston and to the beach without the high cost.  Condos and townhouses are a great way for buyers to have the best of both worlds – yes, location and affordability!  However, given the choice between condos and townhouses, many buyers opt for townhouses so that they can share fewer walls with neighbors and sometimes have a private backyard.

 

Condos fall under a different type of property ownership than townhouses – with condos, you legally own the space of the condo and share ownership of common

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We’ve also added a new page to the site that shows which James Island neighborhoods are usually zoned for which schools.  The list includes neighborhoods as well as apartment complexes, so it’s all of the information we have.  We’ve been told that this list is even more accurate than the MLS.  However, we always confirm any information that our clients need before they buy.  This James Island school list is quite helpful, though!