By: BOB LANG
Originally Published on: 7/28/01
Page: G 4
Subheadline: Magnolia Woods holding
steady in competitive Mt. Pleasant market
Photo Information: WADE SPEES/STAFF- A
crane lifts materials into a home under construction
at Magnolia Woods at Seaside Farms in
Mount Pleasant, where large interior, lagoon and wetland home
sites are available. (535270)
An open second-floor den is available
with this house plan at Magnolia Woods at Seaside Farms. Wood
flooring in the foyer is
standard.
Kitchens generally are large, and all
homes come with a built-in microwave oven.
The entrance sign to Seaside Farms in
Mount Pleasant. (535269)
Painted sea turtles adorn the walls of a
child's bedroom in one of the model homes. (535267)
There is also a Post and Courier map and
an info box.
Of The Post and Courier
MOUNT PLEASANT-What used to be a
seller's market east of the Cooper is now a buyer's market.
Real estate professionals say the reason
for the change is that the supply of homes here has finally
caught up with demand, allowing buyers to be a little bit more
picky with their selections. As a result, homes are taking longer
to sell.
Some neighborhoods are coping with this
slowdown better than others. At Magnolia Woods, a Centex
community at Seaside Farms, new homes priced between $239,500 and
$319,900 continue to sell at a respectable pace two years after
it opened.
"We've been offering incentives,
but we're still selling about five houses a month," said
on-site agent JoAnn Hicks. "Considering that there are about
300 homes for sale in the East Cooper area in our price range, we
think we're doing pretty well. There's a lot of competition out
there.
"If folks (interested buyers) could
sell their houses, we'd probably be sold out. We have so many
people in Mount Pleasant trying to sell their homes to move in
here."
Hicks said locals are attracted to the
neighborhood's proximity to beaches and shopping as well as to
the wide variety of home styles. Seaside Farms is located off the
Isle of Palms Connector and Rifle Range Road.
Buyers in Magnolia Woods can choose from
among two series of home plans -Classic or Lowcountry - for a
total of 17 plans in all. Homes range from 1,912 to 3,212 square
feet and have at least three bedrooms.
The Classic series features crawl space
construction and vinyl siding. Brick or stucco fronts are
available as an upgrade.
Homes in the Lowcountry series are built
up high to accommodate garages underneath. Exteriors are either
fiber-cement siding or stucco. Because homes in this series have
more upgraded features than those in the Classic series, they're
generally more expensive per square foot. Prices in the
Lowcountry series start at $262,900.
Among features common to both series are
a two-car garage (two plans include a three-car garage), hardwood
flooring in the foyer and dining room, full-yard landscaping,
minimum of 9-foot ceilings and a 10-year limited structural
warranty.
Most houses have great rooms with
extra-high ceilings, master bedrooms located where they have
plenty of privacy, and spacious kitchens.
Buyers who don't want to wait for a
house to be built from scratch can choose one in inventory. About
a dozen inventory homes are either finished or under
construction.
The neighborhood has a completed amenity
center, which includes a Junior Olympic pool, playground and
walking trails in a natural park setting. The annual regime fee
is $360.
Hicks, who has lived in Magnolia Woods
for more than a year, said she likes the look and feel of the
neighborhood.
"It's close to everything but it
doesn't feel like it," she said. "Everybody in Mount
Pleasant always complains about how busy (U.S. Highway) 17 is,
but if you live here you don't have to get on it much. It's quiet
and there always seems to be a breeze. The beach is just three
miles away, and Towne Centre is less than a mile away. I can walk
to the grocery store and several restaurants."
Hicks said the neighborhood attracts a
diverse group of buyers, ranging from young professionals to
retirees.
"It's a wonderful, well-rounded
mix," she said.
A total of 260 homes are planned in
Magnolia Woods, of which about 180 have been built. Hicks said
Centex anticipates selling out within a year.
Magnolia Woods is one of three
single-family neighborhoods within Seaside Farms. Wild Olive, a
66-home Centex community near the entrance on Rifle Range Road,
opened in 1999 and sold out within a year. Cathedral Oaks fronts
marsh and will feature 72 custom homes. The Beach Co. is handling
lot sales.
Seaside Farms covers more than 500 acres
and includes a retail area, retirement community, apartment
complex and developing condominium project.
To get to the sales office at Magnolia
Woods, enter Seaside Farms off Rifle Range Road and follow the
signs. Three furnished models are available for walk-throughs.
Ask the on-site agent for current buyer incentives.
Bob Lang covers automotive and real
estate news. Contact him at 937-5594 or at blang@postandcourier.com.
NEIGHBORHOOD
Magnolia Woods at Seaside Farms
BUILDER
Centex Homes
MORE INFO
Sales: 884-7499
Office hours: Sunday, noon-6 p.m.;
Monday-Saturday, 10 a.m.-6 p.m.
Web site: www.centexhomes.com
TOTAL HOMES
260
BASE PRICES
$239,500 to $319,900
REGIME FEE
$360 per year
SQUARE FOOTAGE
1,912 to 3,212
STANDARD FEATURES
Classic series: crawl space
construction, vinyl siding, 2- or 3-car garage, hardwood floors
in foyer and dining room, garden tub and separate shower in
master bath
Lowcountry series: raised construction
with drive-under garage, fiber-cement siding, 2 electric water
heaters, rececced lighting in kitchen and hallways, screened
porch
PROPERTY TAXES
$1,592 on a $280,000 owner-occupied home
AREA ATTRACTIONS
Beaches, Mount Pleasant Towne Centre
shopping complex, Boone Hall, Palmetto Islands County Park,
grocery store and restaurants within walking distance.
DISTANCE TO DOWNTOWN CHARLESTON
7 miles
SCHOOLS
WHITESIDES ELEMENTARY
Grades K-5; 849-2838; enrollment, 592;
certified staff, 39; PACT results, 47.7 percent of fifth graders
scored above basic on the English/language arts portion, 33.7
percent scored above basic on the math portion.
LAING MIDDLE
Grades 6-8; 849-2809; enrollment, 555;
certified staff, 34; PACT results, 49.6 percent of eighth graders
scored above basic on the English/language arts portion, 44.7
percent scored above basic on the math portion.
WANDO HIGH
Grades 9-12; 849-2830; enrollment,
2,079; certified staff, 121; SAT results, 508 verbal, 496 math.
The 1,004 combined score is higher than the state average (966)
but lower than the national average (1,019).
HOUSING TRENDS IN SOUTHERN MOUNT
PLEASANT
Area includes parts of Mount Pleasant
south of S.C. Highway 41.
Number of sales in fourth quarter of
2000: 206 (down from 221 in the fourth quarter of 1999).
Average sales price in fourth quarter of
2000: $254,200 (up from $199,200 in fourth quarter of 1999).
Median sales price in fourth quarter of
2000: $205,000 (up from $178,000 in the fourth quarter of 1999).