The new Mt. Pleasant academy in the Old Village of Mt. Pleasant is progressing nicely. Below are two exterior photos taken april 25, 2009.
It has been some time since I have updated this Charleston area real estate blog. My first post will be of photographs taken on April 25, 2009 of the new Moultrie Middle School under construction and scheduled for completion in August of 2009. I have included a few photographs of the permanent Farmers Market facility adjacent to Moultrie Middle School which will be available to Moultrie Middle School students during the school year.
The old Moultrie Middle School facility has been demolished and a new 900 student, 1,200 core facility is under construction. The new facility will be 120,000 sf, two-story facility on the existing site. The school will have 36 general purpose classrooms, 3 special ed classrooms including speech and vision and 3 computer labs. The middle school is scheduled for completion in August of 2009. Students are currently attending the "Wando South Campus".
Photos of the new Moultrie Middle School under construction taken on July 12, 2008.
I have stopped in for a quick cup of coffee and pastry at the quaint Cafe Lola on Highway 41 on many occassions but for some reason was unaware that they serve lunch. I was out previewing property today and had a great lunch at this small cafe located just yards from the Entrance to Dunes West. It is located at 1903 Highway 41, Mt. Pleasant SC 29466 and is open with coffee and pastries in the mornings and for lunch on Monday through Saturday between 11:00am and 2:30pm. If you are out that way, you might want to stop in and say hello to the owner Douglas Satzger.
April 25, 2009 Update - It appears that Cafe Lola may have gone out of business or at least closed temporarily. On two occasssions when I visited last week the Cafe was closed. I felt that the Cafe served great food for a reasonable price. However, the slow down in the economy and the somewhat secluded location of the restaurant may have led to it's demise.
I recently previewed a relatively new equestrian subdivision in Awendaw in addition to my most recent preview of Poplar Grove. I thought that my Charleston Blog readers would find the photos of interest. A photos slide show can be found at http://picasaweb.google.com/JoeEddleman/PepperPlantation
This slide show has been developed through the use of the new Google tool which is free and an excellent way for each of us to easily share recent photographs either publically or privately.
The new 2007 South Carolina State Report Card Scores Have Just Been Released.
2007 SC State Report Cards Scores
Google has incorporated a new tool called Google Albums which when used with their tool Picasa allows you to easily put together a slide show and photo cds at no cost. Click on the below link to see a slide show of Mt. Pleasant attractions I have put together.
http://picasaweb.google.com/JoeEddleman/MtPleasantSCArea
Poplar Grove
I had an opportunity to tour the new Poplar Grove Waterfront and Equestrian Community today for a few hours and was impressed with what I saw. Take a short photo tour and read about this unique community.
The new Kohl's Department Store at Oakland Plantation Is Now Open
In addition to a new Wachovia branch bank, we now have a Super Wal-Mart and Kohl's Department store open for business in Oakland Plantation. More stores are on the way.
Wednesday, September 26, 2007
Month
Year
Monthly Sales
Avg ListPrice
Avg Sale Price
% Diff Sell/list
Avg DOM
Curr Inventory
Months Inventory
January
2006
10
$508,965
$501,240
98.48%
67.0
52
5.20
February
8
$630,578
$619,062
98.17%
82.0
55
6.88
March
12
$584,579
$576,485
98.62%
93.0
53
4.42
April
6
$425,850
$415,367
97.54%
64.0
64
10.67
May
$562,585
$554,365
98.54%
80
8.00
June
$482,850
$479,637
99.33%
74.0
13.33
July
3
$456,967
$450,333
98.55%
58.0
94
31.33
August
5
$507,240
$497,200
98.02%
96.0
18.80
September
11
$587,000
$558,945
95.22%
121.0
87
7.91
October
9
$619,822
$600,181
96.83%
86
9.56
November
2
$494,850
$491,000
99.22%
108.0
88
44.00
December
$610,282
$579,188
94.90%
115.0
10.00
Total
90
$539,297
$526,917
97.70%
85.6
76
14.17
2007
$594,185
$566,636
95.36%
77
7.00
$594,875
$563,188
94.67%
161.0
83
10.38
$505,691
$491,082
97.11%
97.0
89
8.09
$813,388
$777,688
95.61%
175.0
97
12.13
$618,075
$597,292
96.64%
92.0
113
9.42
$623,050
$582,096
93.43%
179.0
115
11.50
$529,812
$507,362
95.76%
198.0
108
13.50
$490,875
$472,333
96.22%
109
12.11
$596,244
$569,710
95.55%
140.6
99
10.50
2006-2007
167
$567,771
$548,313
96.57%
113.5
12.00
$706,836
$695,597
98.41%
101.0
75
9.38
13
$464,592
$457,551
75.0
6.92
16
$367,434
$367,141
99.92%
107
6.69
$585,838
$569,578
97.22%
70.0
127
15.88
18
$527,714
$519,339
59.0
140
7.78
$406,571
$399,138
57.0
157
13.08
$589,260
$563,600
95.65%
91.0
16.70
$518,972
$507,878
97.86%
111.0
177
11.06
7
$471,414
$464,255
140.0
25.29
$398,578
$388,878
97.57%
119.0
170
18.89
20
$481,979
$460,770
95.60%
124.0
152
7.60
22
$438,093
$423,700
96.71%
122.0
134
6.09
159
$496,440
$484,785
97.65%
93.9
139
12.08
$433,950
$418,400
96.42%
128
$508,625
$492,533
96.84%
165.0
138
17
$470,990
$447,634
95.04%
7.88
$433,682
$420,992
97.07%
145.0
141
11.75
$524,208
$507,562
96.82%
174.0
12.23
15
$438,500
$425,340
97.00%
129.0
150
$575,361
$554,833
96.43%
118.0
142
15.78
$476,976
$466,262
97.75%
146
8.59
$482,787
$466,695
96.67%
132.4
11.00
266
$489,613
$475,740
97.17%
113.0
Wednesday, September 26, 2007Category - Residential
$547,254
$538,025
98.31%
83.0
54
4.15
$780,380
$763,600
97.85%
141.0
61
12.20
$579,122
$570,965
98.59%
79.0
72
4.00
$548,076
$543,367
99.14%
52.0
78
6.00
$551,062
$547,172
99.29%
81
5.06
$633,527
$613,248
96.80%
85
7.73
$660,755
$638,521
95
9.50
$636,692
$609,831
95.78%
81.0
6.85
$624,900
$654,025
104.66%
38.0
93
18.60
$944,246
$879,954
93.19%
110.0
7.15
4
$606,975
$576,875
147.0
24.25
$526,400
$502,988
11.63
129
$636,616
$619,881
97.37%
85.5
9.75
$677,550
$641,983
94.75%
99.0
92
15.33
$539,556
$524,536
132.0
102
11.33
$740,600
$719,919
97.21%
13.38
$470,825
$455,025
117
14.63
14
$463,150
$458,714
99.04%
65.0
121
8.64
$629,238
$605,600
96.24%
128.0
114
8.77
$571,200
$546,292
95.64%
109.0
$644,629
$637,270
98.86%
156.0
15.43
$592,094
$573,667
96.89%
112.0
206
$614,355
$596,774
97.14%
96
$672,450
$647,250
96.25%
$704,900
$690,633
97.98%
69.0
24
$628,667
$621,667
98.89%
31
10.33
$500,667
$486,667
97.20%
34.0
36
$676,567
$675,474
99.84%
20.0
45
15.00
$657,183
$637,067
96.94%
47.0
44
7.33
$604,660
$597,006
98.73%
9.00
$458,233
$475,388
103.74%
56
9.33
$470,317
$484,021
102.91%
60.0
4.67
$619,800
$614,950
78.0
68
8.50
$524,325
$530,462
101.17%
27.0
62
15.50
N/A
$0
0%
0.0
63
0
$592,524
$587,326
99.12%
54.5
50
9.82
$527,617
$530,280
100.50%
$468,233
$457,212
172.0
21.00
$492,831
$498,787
101.21%
114.0
58
6.44
$559,950
$545,875
97.49%
130.0
60
$604,722
$601,668
99.49%
56.0
6.22
$542,517
$528,398
97.40%
49
4.08
$533,083
$524,391
98.37%
8.17
$816,175
$779,750
95.54%
46
$568,141
$558,295
98.27%
100.8
$580,333
$572,811
98.70%
77.5
$685,267
$679,600
99.17%
11.0
21
$524,633
$520,398
99.19%
23
3.83
$544,800
$530,000
97.28%
116.0
6.20
$491,500
98.85%
48.0
38
$493,228
$484,889
45.0
42
$523,883
$523,150
99.86%
17.0
$466,733
$457,667
98.06%
50.0
6.78
$382,691
$375,400
98.09%
4.73
$355,694
$347,350
88.0
6.50
$340,950
$327,500
96.06%
22.0
57
28.50
$392,375
$378,625
96.50%
13.00
$458,860
$444,250
48
9.60
$472,193
$463,361
98.13%
60.3
$495,900
$483,722
5.33
$338,267
$327,167
96.72%
16.67
$435,671
$424,879
97.52%
85.0
51
7.29
$364,042
$346,140
95.08%
5.10
$575,280
$552,000
95.95%
10.20
$615,865
$600,737
4.17
$479,560
$453,780
94.62%
10.40
$656,267
$642,153
157.0
39
3.90
$495,107
$478,822
97.3
133
$483,650
$471,092
78.5
47
Note: The "Current Inventory" column reflects the number of active listings on the market on the 16th day of each Month.The "Months of Inventory" column is equal to the "Current Inventory" divided by the "Monthly Sales". This reflects how many months it would take to sell out of inventory at the current month’s rate of sale.
New Wal-Mart Supercenter at Oakland Plantation Opens 9/19/2007
The new Wal-Mart Supercenter at Oakland Plantation opens today, September 19, 2007. The new store sells everthing from garden supplies to groceries. The new Supercenter features a more modern, less cluttered interior with wide isles, lower shelving and stained concrete floors. The grocery selection will include organic and local products. The new store will employ about 350 employees and be open 24 hours a day, 7 days a week. The old Wal-Mart store in Wando Crossing will remain open and will be renovated with a food section added in about a year or so.
Students did better this year than last year on the state Palmetto Achievement Challenge Test, according to results released today by the state Department of Education. The 2007 PACT Scores are set forth below
2007 Charleston County Schools PACT Scores
2007 Dorchester 2 County Schools PACT Scores
Carolina Park Update
On August 16, 2007, construction started on the mile long Park Avenue Bvd. in Carolina Park which will connect Carolina Park with Park West and Dunes West. The road is expected to open within a year and will offer relief to high traffic areas like Highway 17 adjacent to Wando High School. New residents of Carolina Park will be able to travel from their community to I-526, via Highway 41 and Clements Ferry Rd. Approximately 1750 residential units are planned for Carolina Park with single family home prices expected to start at about $400,000.It is hoped that the first residents will move in during Spring of 2008. More than 1/3 of the acreage will be used for office buildings and light manufacturing facilities. Roper Hospital will be building a 85 bed full service hospital near Wando High School. The Childrens Center at Carolina Park opens on August 20, 2007. It is a private preschool for ages 1-5. Construction is expected to begin in January 2008 on Palmetto Presbyterian Church.
Agent Owned Realty Joins "The Luxury Portfolio Fine Property Collection" Network
Joe Eddleman and Agent Owned Realty is proud to have recently joined an International network of over 200 independent luxury brokerages in the United States and abroad. This powerful group of brokers do more luxury transactions than any other luxury network or franchise. Many members in this network are previous Sotheby's and/or current Christie's member firms. The network advertises in publications such as Town and Country, Veranda, Robb Report, Ritz-Carlton Magazine, Unique Homes and The Wall Street Journal.
Our Luxury real estate website is translated into five laguages and showcases almost 8000 $1 million+ listings. If you would like to be enrolled in this Luxury Portfolio Home Collection Website on which you can search for luxury property throughout the world, receive automatic e-mail updates of new property that meets your search parameters and receive an exclusive e-newsleter with the latest in luxury living, culture and destimations just send me an e-mail with your name an e-mail address and I will enroll you in this program. You can opt out at any time. Send e-mail to Joe.
I have begun to add aerial photosgraphs of Charleston Communities and Attractions on this real estate web site such as my most recent addition featuring aerial photos of homes that have sold on the Isle of Palms in 2007 for over $2,000,000.
The Charleston MLS Has Made Informative Area Sales Charts And Graphs Available That I Want To Share With My Charleston Area Real Estate Blog Members. The Following Graphs Are As Of June 2007.
The New South Carolina Tax Reform Act
Mike Huggins, Charleston County Tax Assessor, provided the folowing update of The Property Tax Reform Act affecting Property Owners throughout the state of South Carolina
Changes state tax rates.
Exempts owner occupied residences from school operating taxes.
Limits taxable value increases due to reassessment.
Requires properties to be reappraised when an assessable transfer of interest (ATI) occurs.
Requires owners of real estate to annually file a certificate of ownership.
New construction is appraised at reassessment level unless an ATI occurs in the same year.
Changes period in which owner may appeal.
Sales Tax
Sales tax on unprepared food was reduced from 5% to 3% effective October 1, 2006.
State sales, use, and casual excise tax will increase from 5% to 6% on June 1, 2007. This will not apply to unprepared food or accomodations.
Additional sales tax will go to the newly created Homestead Exemption Fund.
Revenues from this fund will be used to exempt owner-occupied residences from school operating taxes.
Property eligible for and receiving the special 4% assessment ratio allowed owner-occupied residential property is exempt from all property taxes imposed for school operating purposes.
Savings
Home Value Tax Bill Reduction
$100,000 $79.60
$200,000 $450.80
$500,000 $1564.40
$1,000,000 $3,420.40
(Figures based on 2006 tax rates)
Countywide Reassessment
Reassessment are required every five years. Charleston County's last reassessment was in 2005. The next will be implimented in 2010.
Any increase in the fair market value of real estate property attributable to a periodic countywide a[[raisal ane equalization program is limited to 15% within a five-year period. Prior to 2007 there was no limit to increases due to reassessment.
Assessable Transfers of Interest
Property experiencing an assessable transfer of interest (ATI) in 2007 or later will be reappraised at current market value for the following tax year. Prior to 2007, property was not reappraised due to a change in owneship. An assessable transfer includes:
A conveyance by deed.
A conveyance by contract.
A conveyance to a trust(unless seller or spouse is beneficiary).
Distribution from a trust(unless distributee or spouse is beneficiary).
A change in beneficiary of a trust(unless adding or substituting a spouse).
Distribution by will or intestate succession (except if distributee is spouse)
Conveyance by lease if duration is greater than 20 years or lease grants a purchase option at a price that is 80% or less of the property's value at the termination of the lease.
A transaction or series of transactions within a 25 year period that transfers 50% or more interest in a corporation, proprietorship, partnership, LLC,LLP or other legal entity.
Change in use of agricultural property if the change results in a rollback tax.
Change in use as a result of a change in zoning.
Passage of 20 years since 2007 or the last ATI for real property owned by a publicaly-held entity.
Beginning in 2007, each real property tax notice must contain a certificate prescribed by the Department of Revenue which must be signed and returned by the property owner or the owner's agent certifying details of ownership.
New Construction
Includes:
New structures
New imnprovements
Renovations
Additions to property Boundaries
Additions to existing structures
Does Not Include
Minor Construction
Ongoing maintenance and repair
Repair or reconstruction due to defects, fire, or disaster if the repair or reconstruction is begun within 8 years after determination of damage or destruction is made and the repaired or reconstructed structure is similar in size, uility, and function of the origional structure.
New construction is valued at the last reassessment year level unless it is completed in the same year that an ATI occurs.
When new construction is completed during the same year that an ATI occurs, it along with the land and any previously exisitng structures are appraised as of December 31 of the ATI year for the following tax year.
Recap
State sales tax increased to 6%, food tax reduced to 3%
Homeowners no longer pay school operating taxes.
Value can increase no more than 15% at reassessment.
Ne Owners taxed at current market value.
Owners must file a certificate of ownership annually.
Owners may obkect to value up to 90 days after tax notice if no assessment is sent.
The South Carolina Lottery funds a number of different kinds of scholarships available to in state students. The requirments and amounts of these scholarships are set forth below. In state tuition is as follows:
College of Charleston - $7234
USC Columbia - 7808
Clemson - $9400
Winthrop - $9500
Palmetto Fellows Amount $6,700
Who gets it: Students must meet these three criteria: 3.5 grade-point average; a minimum of 1200 on the SAT or 27 on the ACT; and rank in the top 6 percent of their graduating class. Or they can meet these two: 4.0 grade-point average and a minimum 1400 on the SAT or 32 on the ACT.
Is it working: Yes. The goal of the scholarship is to encourage the best and brightest students to attend South Carolina colleges and universities. More than 8 out of 10 students who qualify for the scholarship accept it and enroll in one of the state's public or private schools.
LIFE scholarship
Amount $5,000
Who gets it: Students must meet two of the following three criteria: 3.0 grade-point average; a minimum 1100 on the SAT or 24 on the ACT; and rank in the top 30 percent of their graduating class.
Is it working: Yes and no. More students are attending college. But only about half of students who earn a scholarship for their freshman year retain it for their sophomore year.
HOPE scholarship
Amount $2,650
Who gets it: Students must earn a 3.0 grade-point average. The scholarship is good for just one year. If a student earns a 3.0 grade-point average his first year in college, the student is then eligible for a LIFE scholarship.
Is it working: Yes and no. Just one student in five who earned a HOPE scholarship for the 2004-05 school year was eligible for a LIFE scholarship in the fall of 2005. But three out of five returned to the same institution and one in five attended a different South Carolina school.
Although the Charleston area has attracted retirees from throughout the country for years, Charleston has never had the number of retirment communities found in many other areas of the country. The town of Mt. Pleasant SC has attracted many active and relatively affluent retirees because of it's convenient location to the Charleston Historic Distrci, the nearby beaches, golfing, restaurants and shopping. Cooper Hall Retirement community and the Sandpiper Retirment community have been home to many older Mt. Pleasant residents for a number of years. On March 13, 2007, ground will be broken for another retirement community called Somerby.
Somerby will be located on 20 acres in the popular Park West Community. The 28 unit senior residential continuing care complex will offer independent living options in either villas or apartments. Assisitng living, memorary care and respite care will be available. 131 of the units are dedicated to indpendent living residences, 51 to assisted living and 38 units for Alzheimers care. There will also be 28 villas on the grounds.
Somerby will offer full service dining, weekly housekeeping, exercise programs, recreation, companion servces and transportation. Amenities will include a computer center and library, game room, movie threater, indoor heated pool, beauty salon, barbershop,exercise facility, convenience store and walking paths. This new Charleston area senior residential community is scheduled to open in 2008.
Another Charleston area retirment community is being developed by Del Webb at Cane Bay Plantation in Berkeley County.
During the past week I have observed quite an increase in traffic to my web sites, increased showing of my listings and inquiries from potential out of town clients requesting Charleston relocation information or advising of plans to visit the Charleston area to look at housing and community options. This increase in real estate activity of buyer activity is about a month delayed in comparison to prior year activity. Interest rates continue to be historically low and the larger price reductions that we have seen during the past year seems to have diminished to a large degree. I believe that most potential out of town buyers are beginning to feel that the real estate market is close to bottoming out in the Charleston area and some of the bargains seen towards the end of last year may be disappearing.
It is possible that this apparent uptick in buyer interest may dissapate in the coming weeks but I will have a better feel for the market this time next month as to whether buyer interest will continue and possibly increase as we get into the Spring season.
Anson House Luxury Condos
The Charleston real estate market has been soft the past year or two. However, the the demand for luxury homes and condos has been relatively strong. The Post and Courier Charleston newspaper just featured a new luxury condo complex to be built near the Charleston Maritime Center called Anson House. It is located at Concord and Laurens Streets.It will be a 32 unit condo complex on a one acre plot of land. Work should start in about a week with 21 units already under contract including one of two penthouses. The remaining condos start at $1.29 million for a one bedroom unit and the unsold penthouse is priced at 4.95 million. Anson House is located across from Concord Park, a planned mixed use nine acre developement with 233 apartments and condos proposed on the south side and 45,000 square feet of office and retail space.
It would appear that the real estate market in Charleston may be down, but not out. There has been continued demand for luxury homes and condos in the Charleston area and this demand is expected to continue as more out of town buyers discover Charleston and all it has to offer.
The Longpoint subdivision is located in the town of Mt. Pleasant adjacent to Palmetto Island County Park and Boone Hall Plantation. It is one of the more mature subdivisions in Mount Pleasant having first been developed in 1988, about the time the growth in Mt. Pleasant started to take off. There are about 450 homes in Longpoint ranging in size of between 1350 sqft. and to over 4000 sqft.Resale homes are priced in the $350,000 + range with tidal creek homes starting about $900,000 when they come on the market.There is a mixture of custom built homes and tract built by Don Galloway and Squires homes. The homes are located on average sized lots with some having tidal creek access. The community has a swimming pool, tennis courts, volley ball, basketball, a play park and soccer field. The children of residents have the choice of good public schools. The annual home owners fee is one of the lowest in the area in subdivisions with amenities.
The upside to Longpoint is that it is located relatively close in to Charleston with an average morning commute time of about 20 minutes. There is a good bit of mature landscaping and the community is small enough to give it a good neighborhood feel. There is a wide diversity of residents in age and marital status and for the most part the home owners enjoy the community. Palmetto Island County Park is within walking distance of the homes in Longpoint and I-526 is a short distance away.The community is located off of Longpoint Road one of the more pictuesque roads in Mt. Pleasant.
The downside to Longpoint is that many of the homes were built in the 1988-1993 time frame and thus may not have the open floor plan and "bells and whistles" found in newer homes. There is not a lot of turnover in the larger homes found in the "Rice Hope" section of Longpoint where most of the homes were custom built and with higher end finishings than found in the smaller tract homes found in the neighborhood.
However, if you are looking for a more mature neighborhood than found in similar priced newer neighborhoods in Mt. Pleasant and want to have the convenience of being closer to downtown Charleston, Longpoint might be a good option for you.
Welcome To My New Charleston Real Estate Web Blog
I was one of the first Realtors in the Charleston area to use the internet to provide informative information and photographs of the various Charleston subdivisions and communities as well as highlighting the many attractions one finds throughout the Tri-County area of Charleston, Berkeley and Dorchester Counties. Each community has a unique feel and something different to offer prespective buyers. I have tried to provide information beneficial to individuals and families considering relocating to the Charleston area on this real estate web site and will continue to do so. At the same time, I feel that there are many residents inthe Charleston area who have a wealth of information to share about their subdivisions and communities in which they live, that would be helpful to anyone considering relocating to the Charleston area. It is hoped that this real estate blog will provide a forum for local Charleston area residents to comment on their own communities and to answer any questions that out of town may have about the various housing and community options found throughout the tri-county area.
My first real estate blog will relate to the Longpoint subdivision in which I have lived since moving to Mt. Pleasant in 1988.
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