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Daniel Island is a newer community than Mount Pleasant. The schools have to grow with the community and they will. I would bet they will be just as good as MP in due course.
Here is a link to my posting. I did quite a lot of research for the Mt Pleasant area. We choose and purchased in Park West, it suited us the best.
Hope anything in my post helps, I did comment on the areas you mentioned.
Any questions, please just ask.
Were I raising children, Park West would be very, very high on my places to live. Wide range of pricing selections. Great amenities. Easy for kids to get around. Close to schools and shops.
All that said and I lived across the street (Rte 41) in Rivertowne.......LOL
Drive around -- and around and around....different times of day.....anticipate what you might be doing -- shopping, beaching, etc.....What seems like a not bad drive at one time or one day can be a real nuisance 10 times a week.
Nothing wrong with Charleston National. We walk to the grocery store, vet, chinese food, Subway and great Italian food at Souri's. Plus we've got golf, two swimming pools, club house, tennis and lots of ponds... Homes are affordable and the HOA rules aren't unusual and superduper restrictive like they are in some other communities.
We are moving from NC, with 2 kids (ages 3 and 5), 2 dogs and a cat. We have narrowed our choices for neighborhoods down and would love to hear some local feedback. We will purchase a home around $500,000. We want a neighborhood with sidewalks, pool, playground and close to shopping,restuarants and the beach. We like
1. Hamlin Plantation
2. Belle Hall Area
3. Daniel Island (still not sold, I need more info on the schools and I'm worried I will hate having to drive to Mt. P all the time for shopping,dining,etc.)
4. Old Village- mostly out of our price range for size we want, but would be interested in a fixer upper with potential.
Is there anything else I am missing. Also we decided we don't want to live near a pond after seeing a 5 foot alligator near a homes deck in Hamlin. We must have a fence and/or no water behind us. Thanks for your help!
jackandmack,
Yes you are missing something. It is called a continued and accelerated collapse of home prices in Charleston and the rest of the country ESPECIALLY in the price range you are looking to buy. Do yourself a favor and rent. Take the money you are about to waste on a downpayment, closing costs and commission and buy physical gold. Once the inflationary collapse occurs (probably in the next year or two) you can sell your gold and pay cash for home at a much cheaper price with no mortgage.
This advice will save you millions of dollars based on appreciation of gold, further depreciation of the home you are about to purchase and interest to the banksters.
The subdivisions and area you have listed in MP are some of the worst in terms of inventory, past/future defaults and price erosion.
Area 41 (http://www.pressomatic.com/ctar/upload/Upper-Mount-Pleasant.pdf - broken link)
Daniel Island (http://www.pressomatic.com/ctar/upload/Daniel-Island.pdf - broken link)
If we took a look at price depreciation per square foot (which is much more accurate than average/median sales price) in the subdvisions you mentioned it would be much worse and will continue to get worse.
If you are hellbent on buying then use existing rental prices to determine the current value of the home you want to purchase. Unfortunately this valuation is only good for the present and will change to the downside in the future at your expense if you buy.
At Gordons suggestion, I took a look at the average price per square foot of single family homes that sold between $300,000 and $700,000 during 12 month intervals between 2004 and 2011 in Hamlin Plantation as reported in the mls.
The last two years, average square foot prices seem to have stabilized, at least in Hamlin Plantation.
Quote:
Originally Posted by GordonGekkoSC
jackandmack,
Yes you are missing something. It is called a continued and accelerated collapse of home prices in Charleston and the rest of the country ESPECIALLY in the price range you are looking to buy. Do yourself a favor and rent. Take the money you are about to waste on a downpayment, closing costs and commission and buy physical gold. Once the inflationary collapse occurs (probably in the next year or two) you can sell your gold and pay cash for home at a much cheaper price with no mortgage.
This advice will save you millions of dollars based on appreciation of gold, further depreciation of the home you are about to purchase and interest to the banksters.
The subdivisions and area you have listed in MP are some of the worst in terms of inventory, past/future defaults and price erosion.
Area 41 (http://www.pressomatic.com/ctar/upload/Upper-Mount-Pleasant.pdf - broken link)
Daniel Island (http://www.pressomatic.com/ctar/upload/Daniel-Island.pdf - broken link)
If we took a look at price depreciation per square foot (which is much more accurate than average/median sales price) in the subdvisions you mentioned it would be much worse and will continue to get worse.
If you are hellbent on buying then use existing rental prices to determine the current value of the home you want to purchase. Unfortunately this valuation is only good for the present and will change to the downside in the future at your expense if you buy.
At Gordons suggestion, I took a look at the average price per square foot of single family homes that sold between $300,000 and $700,000 during 12 month intervals between 2004 and 2011 in Hamlin Plantation as reported in the mls.
The last two years, average square foot prices seem to have stabilized, at least in Hamlin Plantation.
Thanks USCJoe for the MLS info. I think your dollar range is to wide to give a true picture at this price point. You may have gone wide due to lack of sales. I do not have access to the mls so not sure.
However I am not betting on the fact that the real estate market has stabilized. This "so called" stabilization is holding on by a thread due to bailouts, the Federal Reserve artificially keeping interest rates low via Ponzi financing, nationalization of the mortgage market via Fannie/Freddie, Quantitative Easing etc, etc. What your price per square foot data does show is the first stage of the real estate decline from $182 to $147 which is around 20%. Actually this individual is in Jumbo loan territory with a $500k home which is even more problematic trying to get financing these days.
If sellers were not severely upside down and banks would clear out their distressed loans quicker it would be much worse.
Do me a favor and run it for $400k to $600k. Also show the months inventory if you can.
yeah -- I would like to see a smaller range and inventory.
I think the market has changed drastically in Mount Pleasant. We began looking in the summer of 2007 and finally bought last September. I am delighted with the final result financially. We are true fiscal conservatives and were able to get a short sale and a great interest rate. Even if things dip a little we'll be smiling and we have the luxury of not having to move for a long time...so we can hold out if we have to.
I think there are new homes in the high 300,000's now. Sure, sure they are smaller but location, location, location.
I think the worst of the drops have happened and those that bought 2004 and later (and maybe even in 2003) and financed heavily are probably sitting with more debt than asset.....but if they don't have to move -- it will come around...it's gonna be a few years but it will come back. As for those that have to sell (or choose to) -- sure you don't get as much but you won't have to spend as much.
We began our move to Charleston in 2007. It look a very long time to sell our house in Georgia. Inventory was even bigger in the ATL area than here -- no movement (it was not an entry level house)......BUT........we were fortunate. House prices dropped in Mount Pleasant, interest rates dropped and for less money a month we have more house......if we had sold at the height of the market we would not have fared so well.
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