[jennifer586]

My husband was a member at Lakewood CC in Point Clear after graduating from South Alabama almost 15 years ago and always talks of how great it was, so we are now considering moving back to the area since prices have come down and there is a lot for sale due to the housing recession.

We are looking at different options under $300K:
1) The Willows in Fairhope which gives great value (3000SF+ 5/3 under $250K) with no headaches of finding subs and building ourselves.
2) Buying something cheap ($100K) to temporarily live in. Once we arrive, buying a $50Kish lot somewhere like Stone Creek or The Meadows at Point Clear and building ourselves (my husband has built 4 houses).
3) Finding a good buy on a foreclosure in nice areas like the one for $259K in Polo Ridge.

Thoughts on the best places to live that are fairly close (5-6 miles or less) to Lakewood under $300K?
Is Lakewood/Grand Hotel as nice as he describes and as the pictures look online?
How do you like living on the Eastern Shore?

[humacaena]

Jennifer, We are not members of Lakewood, but I guarantee it is beautiful and it's that it describes.
My thoughts on housing...Stone Creek is not a good deal...it's not a desirable location, entrance fronts a landfill, and even though developers touted it to be great, values quickly went down. There are plenty of lots available, but the location will never improve.
The Willows is a great value...and not a bad location. Horton builds a great house for the money, and it will have a good resale, provided the SD has been completed.
The foreclosure in Polo Ridge is not quite available. It has been on the MLS for a long time, but owner won't allow showing, and says he's not getting foreclosed. He was very rude to an agent friend who attempted to show it.
I love living in the Eastern Shore...Fairhope is a very neat community. My husband held a fundraiser recently(for Barbara, the Tomato Lady who's been here for 38 yrs, and needs a new knee)...and the response was amazing. The doctor is donating the surgery and the knee...plus the community bought 1,000 tks for a bbq, and have donated close to $35,000. In these bad times, this is very uplifting. Many volunteers and a lot of work, and all for a wonderful lady.
Prices are back to about 2003, when we moved here from Atlanta. It's a great time to buy and mortgages are in the 4 range, and in the 3's for a 15 yr. Check out Summer Lake...very nice also, and it has taken a while to sell, but it will do OK. Also Fairfield...it has had several great foreclosures(my husband bought one at courthouse steps, resold...good deal for both parties).
If you don't mind building, quite a few lots for very low prices, and subs are hungry. Be aware that the area around Lakewood is quite low, and tends to flood...it did during Katrina, and during hard rains.The farther away from bay, the better.
I hope I've been helpful, and you come down to Fairhope. It's for real!!!

[jennifer586]

Thanks for the great reply! I sent you a PM with a couple questions.

Originally Posted by humacaena

Jennifer, We are not members of Lakewood, but I guarantee it is beautiful and it's that it describes.
My thoughts on housing...Stone Creek is not a good deal...it's not a desirable location, entrance fronts a landfill, and even though developers touted it to be great, values quickly went down. There are plenty of lots available, but the location will never improve.
The Willows is a great value...and not a bad location. Horton builds a great house for the money, and it will have a good resale, provided the SD has been completed.
The foreclosure in Polo Ridge is not quite available. It has been on the MLS for a long time, but owner won't allow showing, and says he's not getting foreclosed. He was very rude to an agent friend who attempted to show it.
I love living in the Eastern Shore...Fairhope is a very neat community. My husband held a fundraiser recently(for Barbara, the Tomato Lady who's been here for 38 yrs, and needs a new knee)...and the response was amazing. The doctor is donating the surgery and the knee...plus the community bought 1,000 tks for a bbq, and have donated close to $35,000. In these bad times, this is very uplifting. Many volunteers and a lot of work, and all for a wonderful lady.
Prices are back to about 2003, when we moved here from Atlanta. It's a great time to buy and mortgages are in the 4 range, and in the 3's for a 15 yr. Check out Summer Lake...very nice also, and it has taken a while to sell, but it will do OK. Also Fairfield...it has had several great foreclosures(my husband bought one at courthouse steps, resold...good deal for both parties).
If you don't mind building, quite a few lots for very low prices, and subs are hungry. Be aware that the area around Lakewood is quite low, and tends to flood...it did during Katrina, and during hard rains.The farther away from bay, the better.
I hope I've been helpful, and you come down to Fairhope. It's for real!!!

[jennifer586]

UPDATE:
My husband picked up a HUD steal in the middle of Fairhope. 1681SF, 3/2, in Rosa Acres that needs some minor work. It was an owner/occupant HUD cash deal. It is on tax roles for $148K and HUD appraised it a $135K; we got it for only $55K. It will be a tight fit for our family, but it will give us plenty of time to check out the area to decide if we want to plant our family there long term (we are required to live in it for at least 12 months).
Closing is about 2 weeks away!