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Old 12-15-2012, 08:11 AM
 
3 posts, read 8,108 times
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Why are property price so low there? It seems like it has a great communting location and nice large older homes on large lots with nice views. So what gives? I know the golf course went under, some developer is going to build houses on the land (supposedly) that it was once on, and the pool is not useable. but there are tons of neighborhoods in summerville without pools or any amenities at all whether the vinyl-sided plywood houses are selling like hotcakes. is there a crime problem being so close to n. charleston? are the houses too expensive to maintain? the uncertainty of the future development? I think quail arbor is much uglier,is a cut-through from trolley to bacon's bridge, and smaller older homes, but people still want to live there. i guess i am just wondering why no one wants to buy there and am looking for any insight from locals.
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Old 12-15-2012, 09:04 AM
 
Location: Lexington, SC
4,281 posts, read 10,737,425 times
Reputation: 3716
zoo

Mainly it is older with many of the homes need a total rehab. Overall the word seedy comes to mind. The legal issues/fights with the golf course owner has caused a split among the neighbors. People are not sure what will be built in there.

To many unanswered questions thus many are avoiding the place.
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Old 12-15-2012, 10:13 AM
 
Location: Summerville
7,934 posts, read 15,093,350 times
Reputation: 1351
Quote:
Originally Posted by accufitgolf View Post
zoo

Mainly it is older with many of the homes need a total rehab. Overall the word seedy comes to mind. The legal issues/fights with the golf course owner has caused a split among the neighbors. People are not sure what will be built in there.

To many unanswered questions thus many are avoiding the place.
^ What he said, also you have all the new construction up and down Dorchester Rd. that is prices fairly resonable so the houses in Kings Grant just are not selling....
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Old 12-15-2012, 11:46 AM
 
Location: Goose Creek, SC
870 posts, read 1,712,452 times
Reputation: 395
This is my opinion of what's going on there.

Kings Grant dates back at least four decades. My parents bought a house there in the 80's and my grandmother lived there in '77. Age is definitely a factor. As has previously been stated, many of the houses need to be repaired, remodeled, revamped or just torn down and rebuilt at this point.

In and of itself, that isn't enough reason to bring down the value of otherwise structurally sound homes, right? Absolutely not! If the home is solid, you can change the appearance all day long and twice on Sunday. But, someone else mentioned reasonably priced developments elsewhere on Dorchester. Wescott is one of those and it's right across Dorchester Road. It's also less than 10 years old. If you compare, you will find that for any home you can buy and fix up or update in King's Grant, there is most likely a similarly priced home in Wescott that you can move into as soon as you close. Some of the higher end homes in King's Grant may not have Wescott counterparts but they do in Coosaw Creek which has come down in price in recent years as well.

Then there's the Golf Course and Pool. Not only is there a big fight over it, it's also an eyesore. It's not being maintained (last time I lived there anyway). Nothing was being done with it. The course was overgrown and the pool was surrounded by caution tape.

All of this weighs down property values. Low property values mean people move out and sell their homes for less money which means other people buy those homes as investments and rent them out for less rent than a neighborhood with higher property values. Low rent generally brings in lower income renters. This happened in Kings Grant and not in a good way. My mom and I lived there 7 years ago and the neighborhood had changed a lot since the late 80's (obviously). The best way to describe what happened is to say that "North Charleston crept up Dorchester Road into kings Grant and not in a good way."

There was graffiti on the streets and stop signs. The neighborhood newsletter advised residents to be on the lookout for "gang like" activity. At the time, if you checked the sex offender website (my mom is home alone a lot so I get paranoid) there were at least 2 or 3 people on it renting houses in the neighborhood. There were more renter occupied than owner occupied homes, which, in my opinion isn't good for property value because if you own, you care what the neighborhood looks like. The list goes on but you get the idea.

All of that was going on in a 40+ year old neighborhood full of run down houses. Directly across the road is Wescott which is brand new in real estate terms, priced about the same, the homes are in better condition for the most part, because of builder deals and such there were, at that time, more owners than renters, it seems like every other home has a police cruiser or a car with DoD stickers in the driveway every night etc. The perception is that Wescott is newer, safer and better and King's Grant is older, run down and, frankly, kind of ghetto.

Honestly, though, location is everything. If I were a developer and I had the money to do it, I'd start buying rentals now while they're cheap. When the leases expire, I wouldn't renew. I'd tear the houses down one at a time and start combining lots-not one or two but several at a time to get multi acre parcels out of them. I'd even buy the damn golf course and amenities center. I'd rebuild and refurb the golf course, probably get rid of the townhouses and move the pool there so it could be bigger and better and the clubhouse for the golf course could be bigger and better as well. I'd expand the boat landings and build walls and gates around the whole neighborhood and I'd McMansion acres that mother. That's a lot of bulldozing though and people would fight me on it tooth and nail.
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Old 12-15-2012, 12:26 PM
 
Location: Windsor Hill, North Charleston, SC
1,075 posts, read 1,780,817 times
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Quote:
Originally Posted by Techgeek View Post
This is my opinion of what's going on there.

Kings Grant dates back at least four decades. My parents bought a house there in the 80's and my grandmother lived there in '77. Age is definitely a factor. As has previously been stated, many of the houses need to be repaired, remodeled, revamped or just torn down and rebuilt at this point.

<snip for all the spiel>

Honestly, though, location is everything. If I were a developer and I had the money to do it, I'd start buying rentals now while they're cheap. When the leases expire, I wouldn't renew. I'd tear the houses down one at a time and start combining lots-not one or two but several at a time to get multi acre parcels out of them. I'd even buy the damn golf course and amenities center. I'd rebuild and refurb the golf course, probably get rid of the townhouses and move the pool there so it could be bigger and better and the clubhouse for the golf course could be bigger and better as well. I'd expand the boat landings and build walls and gates around the whole neighborhood and I'd McMansion acres that mother. That's a lot of bulldozing though and people would fight me on it tooth and nail.


So I guess a clean, operable and well maintained pool is an eyesore?

Do you even know what you are talking about? When was the last time you were actually over there? I know it's NORTH CHARLESTON (eeeeeewwww) but some people are better left to discuss this property than others....

By the way ... the property is already being developed ... you aren't going to buy anything and combining lots isn't as easy as all of that. Property are permitted a certain way for a reason and you aren't going to turn 5 single family residential lots into an 8-acre estate just because you bought them all.

Yes .. the houses in King's Grant are old but there are plenty that are not falling apart or needing to be torn down. While I have only been inside a half dozen of the properties, I can say that they were all well maintained and in good shape.

The few I've seen that are not occupied, while I'm no building inspector, all appear to be in decent shape and for the right price, rehabing them would be MORE than worth it.

The pool is in PERFECT condition. People need to stop living in the past and realize that what was the case 3,4,5, 10 years ago is not the case now.

The amenity building is nearly completely renovated.

Not only that, but all permitting for OPENING the amenity center has been completed and/or started.

The 'golf course' is not a golf course any longer.

It hasn't been for years and before the talk of developing it for single family residences it had been allowed to go down hill. I'm not sure why anyone even references it as a golf course any longer.

Speaking of that area though, construction on new single family residences is about take off again. I'd say that other than electricity, curbing and asphalt, all of the infrastructure is in place already, including water, sewer (including a new lift station), drainage and road base.

Most, if not all, preliminary site survey work has been completed and now they are in the process of confirming and getting the ACE to sign off on the critical (salt water) and wet areas.

I know all this because I've been over there at least 12 times in the last 3-4 weeks and have had first hand knowledge of what it looks like as well as know second hand information from our client who is developing the property over the past year or so.

King's Grant is far FAR from being ghetto. I'm sorry it's not snotty HOA nazis like some subdivisions ... but ghetto ... REALLY?
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Old 12-15-2012, 06:02 PM
 
Location: Lexington, SC
4,281 posts, read 10,737,425 times
Reputation: 3716
Bull

You say:

<b>I know all this because I've been over there at least 12 times in the last 3-4 weeks and have had first hand knowledge of what it looks like as well as know second hand information from our client who is developing the property over the past year or so.</b>

What takes you there so much?

Thanks
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Old 12-15-2012, 06:40 PM
 
Location: Summerville, SC
3,383 posts, read 7,129,513 times
Reputation: 1446
I looked at houses there, honestly I thought it was a great neighborhood, and considered several homes in their.


Big lots, lots, of trees, affordable, good location, loved lots of parts of it...


The things we didn't like.
-no sidewalks but not killer, didn't seem like a high traffic place and we "lurked it" maybe once a week, when we used to go house shopping.
-Its an older Charleston home. Problem with older charleston homes, it got a new roof after Hurricane Hugo, which was about 20 years ago, and likely needs a new roof again. That is before you get into some of the interior updating.

Other then that, great houses.



I wouldn't be against buying a house there, loved there and ashborough.
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Old 12-15-2012, 07:12 PM
 
Location: Windsor Hill, North Charleston, SC
1,075 posts, read 1,780,817 times
Reputation: 339
Quote:
Originally Posted by accufitgolf View Post
Bull

You say:

<b>I know all this because I've been over there at least 12 times in the last 3-4 weeks and have had first hand knowledge of what it looks like as well as know second hand information from our client who is developing the property over the past year or so.</b>

What takes you there so much?

Thanks
Im a survey crew chief for the civil engineering/land planning company that is working for the owners of the property where the golf course used to be.
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Old 12-15-2012, 09:20 PM
 
Location: Goose Creek, SC
870 posts, read 1,712,452 times
Reputation: 395
Bull, the part you snipped out included stuff like "the last time I lived there" and "at the time"

In fairness, it was at least 5-7 years ago and I should have said that.

Also, I know I'm not buying anything. I said IF I WAS A DEVELOPER. I'm not one, I fix computers.
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Old 12-17-2012, 04:21 AM
 
Location: Windsor Hill, North Charleston, SC
1,075 posts, read 1,780,817 times
Reputation: 339
Tech .. sorry if I came off too harshly .. wasn't my intent ..

It just seems that more people post bad information based on antiquated ideas about the areas around here and I hate to see that ... especially when it might effect such a large purchase.
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