According to the National Association of Realtors,  pending sales of previously owned U.S. homes rose by 6.7 percent in April, the biggest monthly gain in 7-1/2 years, reinforcing evidence the U.S. recession is beginning to ease and the battered US housing sector is stabilizing.

“We’re delighted to see these positive figures,” said Gooden + Faircloth partner Rebecca Gooden.   “They’re actually in perfect synch with what our company has experienced since January.”

According to Reuters News Service, the downturn in the U.S. housing market touched off a global credit crisis that sent economies worldwide tumbling into recession. Now, signs are emerging that the global economy is beginning to heal.

Lawrence Yun, senior economist at NAR, credits improved home affordability and the government’s $8,000 tax credit for first-time homebuyers for the surge in U.S. buying activity.

Says Gooden of Gooden + Faircloth, “all of our buyers in the first half of ‘09 have been first-timers.   In fact, it is the market segment we’ve focused heavily on. The $8,000 Tax Credit has been a major draw of activity into the market.   We’d still like to see the credit expanded to all buyers, not just first-timers.  Housing is historically affordable right now.”

The NAR said its Housing Affordability Index, which blends factors like home prices and mortgage rates, was “in record territory” with 30-year mortgage rates hovering around 5 percent and an abundance of homes on the market

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Added Edward Faircloth, ” a recovery in the housing sector has been responsible for bringing the country out of 5 of the past 7 recessions.  It only makes sense that healing the housing industry should be a primary focus for the federal government stimulus programs.”

“Almost everyone,” says Faircloth, “agrees that a housing recovery is critical for a broader economic uptick, mainly because it was housing which kick started the recession.”

Looking for a truly special Mt Pleasant neighborhood, older more established, diverse, lush and lovely?

For several decades, Wakendaw Lakes has been one of Mt Pleasant’s most desirable neighborhoods.

Gooden + Faircloth has just completed an informative summary of real estate sales activity in the Wakendaw Lakes neighborhoods, as well as a wonderful new video tour. You can access both on the Wakendaw Lakes neighborhood page by clicking the link below.

Wakendaw offers gorgeous, huge trees, several beautiful lakes, lots of surprising little gifts from nature, young and old strolling tranquil streets and a sense of true neighborliness.

Wakendaw Lakes is actually a series of four separate developments: Wakendaw Lakes, Wakendaw Manor, Wakendaw-on-the-Creek, and Wakendaw East.

The area has a rich history having been part of the Woodlawn Plantation, a 300+ acre working farm of pecans trees, acres of fields and over 9,500 head of livestock, mostly hogs.

During 2008, a total of 9 home sales ( excluding For Sale By Owners ) occurred in the combined neighborhoods of Wakendaw. There were no homes sold in the Wakendaw-on-the-Creek neighborhood.

The average sale price in Wakendaw Lakes was $ 501,557. In Wakendaw Place, 2 homes were sold, at an average sale price of $241,700.

Click here to acces the Wakendaw Lakes Real Estate Sales Report or to enjoy the new Wakendaw Lakes neighborhood video tour.

If you’re currently renting in Mount Pleasant or Greater Charleston but feel this may be the right time to consider purchasing a home, you’re not alone.   Half of all home buyers in February of this year purchased a home for the first time.

There are several compelling reasons those who have never owned are choosing to buy.

Gooden + Faircloth’s 2 minute video summarizes why so many first-timers have decided now is the right time.   Give us a call to find out more.

Edward Faircloth
Gooden + Faircloth
Mount Pleasant, SC
843.801.3480

Hobcaw Creek Plantation is the ideal neighborhood for those seeking the ‘ ideal ‘ neighborhood: family oriented, safe, manicured and lush mature vegetation.

The majority of homes in this very desirable neighborhood are large and upscale. Most of the homes in Hobcaw Creek were built during the 1990s.

At the back of Hobcaw Creek, you’ll find the largest homes, many with private docks. Hobcaw Creek Plantation is adjacent to some of Mt Pleasant’s premier shopping and dining options. At any moment, there are only a few homes for sale in Hobcaw. It’s that desired.

Homes in the neighborhood average between 3,000 and 4,500 square feet with prices generally starting in the $450,000 range. The neighborhood’s clubhouse features tennis courts, a children’s playground and a swimming pool. Residents also have access to a community dock and boat landing.

I admit it, Hidden Lakes is one of my favorite neighborhoods in Mt Pleasant / Greater Charleston. Virtually every home in the entire neighborhood peacefully rests on a canal or lake. The homes are generally traditional, very well built, diverse and well – maintained.

Click on the image above and enjoy our new Hidden Lakes video tour. You’ll see what we mean…..

2008-2009 Seaside Farms Real Estate Sales Report

Seaside Farms is one of coastal South Carolina’s most popular neighborhoods.  Nestled up to the intracoastal and marsh expanse separating mainland Mount Pleasant,SC and Isle Of Palms on the barrier islands, Seaside Farms is actually several beautiful neighborhoods.   Enjoy a closer look at Seaside Farms in the video tour below.

Gooden+Faircloth has compiled 2008 real estate sales data into the new Seaside Farms Real Estate Report 2008/2009.

The highest priced home sold over the past 12 months was in the Cathedral Oaks neighborhood.  1712 Canyon sold for $ 1,175,000 or $ 285 per square foot.

Over the past 12 months, homes averaged remaining on the market from a low of 127 days in Magnolia Woods to a high of 207 days in Windward / Marais.

Click here to learn more.

Nestled up to the mainland shoreline overlooking Intracoastal Waterway, Seaside Farms is actually composed of several different neighborhoods. Cathedral Oaks and Magnolia Woods are single family home neighborhoods, Long Grove and Windward are condominium communities and Marais features gorgeous town homes.

Click the image above to see why Seaside Farms is one of Mt Pleasant’s most respected and appreciated developments.