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.

I had the wonderful pleasure of participating with our fellow Rotarians in Happy Feet, an outstanding Rotary project which provides new tennis shoes to disadvantaged children in the Mt Pleasant, SC area.

We distributed 120 pairs of shoes to 120 area children who all had the cutest of appreciative smiles!

Happy Feet: Another great Rotarian project

Rotary Mt Pleasant organized the effort and again proves the worth of this worldwide organization which single handedly has virtually wiped Polio out around the world.

Thanks to Lou Mello for his great management of Happy Feet.

Happy Feet: Another great Rotarian project.

The lighthouse for home value directions, like the stock market, is perpetually dim.

Predicting the rise and fall of stock value is a devilishly difficult, if not impossible, task.   But what moves down, almost certainly will move back up.  By the time most of us are secure enough to return to the market, the most profitable opportunities are somewhere over the horizon, sailing away from us.

The real estate market will rebound.  I know it.  You know it.  We all know it.

The price of the home in Mt Pleasant, Charleston, Isle of Palms or Sullivan’s Island which I help you purchase this week will quite possibly be lower than what you will pay in the not so distant future.

I always advise caution, care and fiscal prudence.

But, don’t you feel in your gut real estate market prices are about as low as they’re likely to go in the Low Country?

Don’t you feel now just may be an excellent time to buy, or invest in real estate?    My mortgage broker friends tell me there is mortgage money available.   My instincts tell me the dark clouds of the past year are beginning to clear away and health will imminently return to the market.

Don’t you have the feeling in the near future we will frequently hear ourselves and others lament, “I wish I had purchased a home, or homes, several months ago?”

The real estate lighthouse is truly dim.   I don’t have special future visionary powers and these are uncertain times.

Did you read Blink by Malcolm Gladwell?  The subtitle is The Power of Thinking Without Thinking.

Do you sense the sky is brightening and 2009 just might be an ideal time to purchase the home of your dreams?

I do.

Rebecca Gooden

A few nights ago, I attended another public meeting to discuss the Town of Mt. Pleasant’s Comprehensive Plan.   The plan is still in an early stage, the ideal time for those of us who choose to be an active part of our city to become involved.

I’ve joined a citizen’s committee formed to provide ongoing direct input to the city and the consultant. Mt Pleasant is better off with all of us contributing and focused on its future.

Among the conditions presented and discussed was that growth in Mt. Pleasant has been significant over the last decade but is slowing, while traffic and congestion are increasing.

This was the first of many such meetings that will take place before the plan is finalized in July of 2009. The planning team includes staff from the Town of Mt Pleasant Planning and Development Department and an Atlanta based consulting firm named EDAW.  www.edaw.com

I encourage you to attend these meetings whenever possible.   The option is to  put all input and decisions into the hands of others.

At the meeting, the concept of “sustainability” was introduced as a foundation for future growth in Mt Pleasant.  Sustainability means “meeting the needs of the present without compromising the ability of  future generations to meet their own needs”.  We all have the responsibility to preserve and protect our beautiful area for our children and grandchildren.

Going forward, other important government responsibilities addressed were:

* Insure fiscal soundness
* Serve the entire community
* Guarantee environmental protection

You can make a difference.   Important decisions are being made and your insight, experience and interests are needed.

Renting the roof over your head has its time and place.

But each monthly payment you make is making the monthly mortgage payment for someone else.  That is fine in many cases.

Buying a home, whether in Charleston or Chicago, is an important decision – whether you are  buying your very first home, downsizing, relocating, or upgrading.    But if you’re stable, in time, place and finances, owning has notable advantages.

Tax Savings

Owning allows for significant tax savings.   You can deduct mortgage interest and property taxes from your federal income tax and many states’ income tax if you itemize your deductions.

Equity
Real estate traditionally appreciates ( if you’ve paid a intelligent price for the home ).  You may build equity in your home over the life of your loan.   It felt good to receive a $35,000 equity appreciation check from a home I bought 3 years ago and just sold in Florida.

Stable monthly housing expenses
Your monthly mortgage expense CAN remain the same for the life of your mortgage, depending on the type of loan you choose.

I am ready to help you start taking advantage of the benefits of being a homeowner.  It’s a buyers market right now in Charleston, Mt Pleasant, Isle of Palms and Sullivan’s Island.   Real Estate prices are down as are mortgage interest rates.

On the Gooden + Faircloth website, click on MLS Search above to review the many great options you have in the market right now.   Better yet, click on Contact me and let me assist you with your search.

Owning your own home is within your reach.    We look forward to the opportunity to help you find that perfect home.

Rebecca Gooden

I met with Jeremy Mills and Lantz Cox of Good Faith Mortgage recently to explore financing options for my clients.  I got some good news, some bad news, and some hopeful news.

Even with very high credit scores, self-employed workers (this includes all workers that don’t receive W-2 wages) will find obtaining a mortgage a little more challenging than in the past, more challenging but not impossible.  Self-employed borrowers will need to provide the following information to lenders:

* Proof of at least two years in the same type of business showing income necessary to qualify for the mortgage amount.  Two years of tax returns.

* Sixty days of assets including IRA’s, 401k’s, Stocks, Bank accounts

* Assets.

Because of past abuses of this type of loan, the days of no-doc loans are gone.  This is to the detriment of self-employed workers, for whom the loans were intended originally.
All realtors are considered self-employed so these rules apply to us as well.  The hopeful news is that Fannie Mae and Freddie Mac are working on a plan to meet the needs of the self-employed workers. This plan will hopefully be in place within about two months, according to Jeremy and Lantz.

Here is the  great news for W-2 workers who are thinking of buying a home.  Qualified borrowers with a credit score of at least 580, can apply for FHA and VA financing.  For conventional loans with less than 20% down payment, the score would need to be 680.  The requirements for these borrowers are:

* 2006, 2007 W-2’s

* A 2 year history in the same line of work (unless the borrower is a recent college graduate with a job in their degree field)

* Assets

* 2 months of recent pay stubs

I left my meeting with Jeremy and Lantz hopeful about financing and mortgages.  Though their hands are tied in many respects by regulations, I was  assured that they, as well as other lenders I have spoken with recently, will  do whatever they can within those regulations to obtain financing for home buyers.

They will explore all options and investigate all possibilities for making home buyer dreams come true.

Rebecca Gooden