Carolina Park Law Suit Status

 The developer of Carolina Park, Carolina Park Associates reportedly stopped making payments on a $25 million dollar loan in June of 2009. In August of 2009, Palmetto Debt Holding, LLC bought the note for an undisclosed amount. They filed a foreclosure lawsuit and sought to replace the developer with a court appointed received.

A $600,000 payment on the debt is due in December, 2009. Carolina Park Associates has invested $50 million in the property and is working to secure new financing. Stay tuned.


Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

New Photo Update of Roper Hospital Construction at Carolina Park

 Photos taken October 8, 2009

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Photo Update Of The New Roper Hospital at Carolina Park

Photos Taken October 13, 2009

 

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Carolina Park Update - Developers Of Carolina Park Sued

According to an article in The Post and Courier newspaper, the developers of Carolina Park a facing a foreclosure lawsuit for allegedly defaulting on a $25 million loan. The newspaper stated that a Charleston based investment group, Palmetto Debt Holding LLC is seeking to foreclose on hundreds of acres of property the borrowers had pledged as collateral in Carolina Park. The Wando High School site as well as Roper St. Frances Hospital sites are excluded from the foreclosure.

According to the newspaper article, "the borrowers could turn over the land deeds without a legal fight, or they could line up new financing to pay off the $25.3 million balance, which is growing at a rate of nearly $4,700 a day. Filing for bankruptcy protection is an extreme option that would buy time. The Carolina Park has been known for years as the Marino Tract.

It is interesting to note that according to the Charleston mls, 22 vacant residential building lots being marketed by Carolina One Real Estate were withdrawn from the market in Carolina Park on September 24, 2009;


Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Carolina Park High Definition Video Taken September 20, 2009

Here is a high definition video of Carolina Park taken September 20, 2009. As you can see there has been limited construction to date due to the slow real estate market and the downturn of the economy. Click on the square next to the "HD" icon at the lower right to view video in a full window.






Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

New Cline Home Under Contract in Carolina Park

A "Spec" home by Cline Home Builders located at 1479 Crane Creek Drive has just gone under contract, contingent on financing. This home had originally been listed at $409,000 with the current list price of $399,000. This two story home has 4 bedrooms and 2 1/2 baths. It is listed as having 2532 square feet of living space and backs to wetlands.

Homes For sale In Carolina Park.


Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Photo Journal Of Deepwater Dock and Home In Adjacent Dunes West Community

Follow The Construction Of A New Deepwater Home and Dock In The Dunes West Subdivision Through A Photo Journal Updated On My Original Charleston Real Estate Web Site. Updated Dock Photos Taken August 8, 2009.

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Follow The Construction Of A New Custom Waterfront Home Being Built In An Adjacent Community To Carolina Park

Follow The Construction Of A Spectacular Wando Riverfront Home From Start To Finish On This Beautiful Waterfront Lot For Clients From Warren New Jersey In A Waterfront Community Adjacent To Carolina Park

Dock Construction To Start Towards The End Of July 2009

Dock Construction Started July 29, 2009

Recently, I had the opportunity to represent the interests of a professional couple from New Jersey who were looking for a waterfront home (second home) in the Charleston area to meet their needs and requirements. Even though the inventory of waterfront homes in the price range in which they were looking was extensive, they were unable to find exactly what they were looking for. My clients preferred a home on the Wando River rather than on one of the many tidal creeks found in the area, a floor plan to suit their life-style and room for a pool that can take advantage of the deepwater views.. Although there are plans for deepwater lots in Carolina Park, none are available for purchase at this time. Their new waterfront home once completed, should give them everything they are looking for in terms of size, views, floor plan, elevation and convenience to shopping, recreation facilities and amenities.

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

New Photo Update of Roper Hospital Construction at Carolina Park

Photos Taken August 1, 2009

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Construction of Palmetto Presbyterian Church Started at Carolina Park

Photo taken August 1, 2009

The construction of Palmetto Presbyterian Church has started at Carolina Park

The Church web site.

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

New Waterfront Property Listing On Wadmalaw Island Approximately 35 Minutes From Mt. Pleasant. 2.45 Acres With Joint Dock In Place

Charleston Area Waterfront Property Now Available On Wadmalaw Island Just Minutes From The Charleston Historic District And Shopping. This Estate Sized Waterfront Parcel Is Being Offered At $499,000, Allowing The New Owners The Luxury Of Building A Spectacular Waterfront Estate For A Reasonable Price. Check Out The Competition To See Why This May Be One Of Your Last Opportunities To Purchase Waterfront Property For A Reasonable Price Whether It Be For Investment, Immediate Primary Or Vacation Home Or For That Future Retirement Home You Have Always Dreamed About. Contact Joe With any Questions Or For A Tour Of The Property.

Seeking a private, secluded paradise with magnificent views? This waterfront 2.45 acre generous lot provides the perfect fit. Step through your own canopy of moss laden oak trees to your Intracoastal Waterway backyard. The existing dock delivers instant access to your boat and a fast escape to the waterways. Here you can enjoy privacy, serenity, and exclusivity. This estate sized waterfront parcel is being offered at $499,000.

It doesn't get much better than this when you spend the day catching your dinner and come home to grill on your deck overlooking a panoramic view of the Wadmalaw Sound. Enjoy the activity in the distance of the ICW or challenge your friends to find the best fishing hideaway while exploring all of the nearby creeks. Summertime, saltwater and flounder found right off your dock are a simply delicious combination. South Carolina estuaries and coastal waters are filled with a variety of bait fishes and shrimps preyed upon by game fish. Use your recreational retreat for fishing, shrimping, canoeing, boating or indulging in a variety of water sports that are now available to you.

With over 200 feet of road frontage and more than 200 feet deep, there is ample room for a substantial primary home, guest home and pool, if desired. A setback can easily afford complete privacy and serenity from the scenic Harts Bluff Road on Wadmalaw Island. Sit back and relax to the sounds of nature while adoring the glistening waters at sunset.

This pristine, natural beauty is conveniently accessible to the historic city of Charleston, 25 minutes away. It is a delightful drive through country roads, or you can spend just a few minutes to dash over to the local "Pig" and shopping area for your immediate needs.

Here is your opportunity to build a spectacular waterfront estate, private get-away, or future retirement home at a reasonable price. Grab it while the grabbing is good; it's time to make your dreams come true.

Download PDF File Of Property Plat

Aerial View Of 1939 Harts Bluff Waterfront Lot & Dock at Low Tide.

This 2.45 acre waterfront lot is located off of scenic Harts Bluff Road on Wadmalaw Island. The new owners will have the opportunity to have complete privacy from the road yet unparaleled views of Wadmalaw Sound & the Intracoastal Waterway. With over 200 feet of road frontage and more than 200 feet deep, there is ample room for a substantial primary home, guest home and pool should the new owners desire one.

Just a short walk down the dock to some of the best fishing, boating and water activities in the Charleston area.

The Intracoastal Waterway In Your Backyard

Country Living & Scenic Roads Lead To Shopping (8 minutes) With Downtown Charleston Less Than 25 Minutes Away.

Stop Off For Groceries At "The Pig" Or To Pick Up A Prescription At The CVS Pharmacy Just a Few Minutes From Home.

Check Out My Charleston Waterfront Property Web Site & My Mt. Pleasant Real Estate Site.

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

New Home Closing In Carolina Park

A new Brentwood "Spec" home just closed in Carolina Park. The 4 bedroom, 3 1.2 bath home at 1510 Crane Creek Drive sold for $399,000. It had been last listed for $399,900. It was originally listed for $419,990. It is listed as being 2847 square feet, selling for $140.15 per square foot.


Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

New Home Under Contract in Carolina Park

On July 7, 2009, a two story 4 bedroom 2 1/2 bath home on lot 71 at Carolina Park went under contract, contingent on financing. The home has a downstairs master and located on a .26 acre lot.This home will be built by Cline Homes and is listed in the mls for $383,480. It will be 2337 square feet and will be located on a pond front lot. This home has been marketed by Carolina One Real Estate. As of July 11, 2009 there are two homes under contract and one sold home in Carolina Park according to the MLS. This new home under contract is listed for $164 a square foot, in line with the 4 other new homes for sale.


Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Photo Update Of The First Cline Homes Spec Home At Carolina Park. Photo Taken July 2, 2009

New Homes For Sale at Carolina Park

The construction of the first Cline Homes "Spec" Home continues at a steady pace in Carolina Park. This 2600 square foot home has 3 bedrooms and 2 1/2 baths. I had an opportunity to preview the home which is being marketed by Carolina One Real Estate. At the current stage of construction, I am impressed with the floor plan, flow and room sizes. I in no way represent the builder nor a Realtor with Carolina One. The intent of this Carolina Park Blog is to provide photo coverage of the progress of construction at Carolina Park for those having any type of interest in this new Mt. Pleasant residential and commercial development.

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

July 2009 Carolina Park Photo Building Update Of Roper Hospital

Updated Photos Of The New Roper Hospital at Carolina Park. Photos Taken July 2, 2009

Roper St. Frances Hospital Web Site

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Second Home In Carolina Park Goes Under Contract

The Second Home In Carolina Park Has Just Gone Under Contract.

According to the Charleston MLS, the second Brentwood home in Carolina Park was placed under contract on May 19, 2009 contingent on financing. The home has been listed for $399,900 and is reported as being 2847 square feet.

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Roper Hospital Photo Update For May 26, 2009

May 26, 2009 Photos Of The Progress Of Construction On The New Roper Hospital at Carolina Park In Mt. Pleasant, South Carolina

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Cline Homes Starts Construction Of Spec Homes In Carolina Park

Cline Homes has started construction of new homes in Carolina Park. The first home on lot #70 is a 2 story 3 bedroom, 2 1/2 bath 26009 sqft. "Charleston Single" adjacent to a pond. It is being marketed by Carolina One Real Estate and offered at $426,000. If you are considering purchasing a home in Carolina Park or in any one of the many Charleston area communities why not let me represent your interests as a "buyer's agent" at no cost to you. For additional information see my Carolina Park Web Page on my Charleston Real Estate Web Site.




Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

April 11, 2009 Photo Update Of The New Roper Hospital at Carolina Park

Roper St. Francis Healthcare is the South Carolina Lowcountry’s only private, not-for-profit hospital and health care system. The 644-bed system is comprised of 20 facilities/services in four counties. Member hospitals include Roper Hospital, Bon Secours St. Francis Hospital and Roper Rehabilitation Hospital as well as freestanding centers for 24-hour emergency care, diagnostic services, including laboratory and imaging, home health services and outpatient surgery. Roper St. Francis Mount Pleasant Hospital opens in November 2010.

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Photo Update For Carolina Park

Cline Homes has broken ground on their first "spec" home in Egrets Landing. It is a 2600 two story 3 bedroom home priced at $426,000. Cline Homes has a few other spec homes listed in the mls starting at $406,000.

Cline Homes "Spec" Homes For Sale At Carolina Park

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

First Home Sale In Carolina Park

The first home has sold in Carolina Park. It was a new 4 bedroom 3 1/2 bath two story home in the Egret's Landing section. The home was built by Brentwood Homes and had been listed at $399,990. It sold on 2/23/09. It was listed as 2624 sqft.





Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

New First Time Home Buyers Tax Credit

FIRST-TIME HOMEBUYER TAX CREDIT

As Modified in the American Recovery and Reinvestment Act

February 2009

FEATURE CREDIT AS CREATED JULY 2008 APPLIES TO ALL QUALIFIED PURCHASES ON OR AFTER APRIL 9, 2008 REVISED CREDIT – EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009 AND BEFORE DECEMBER 1, 2009

Amount of Credit

Lesser of 10 percent of cost of home or $7500 Maximum credit amount increased to $8000

Eligible Property

Any single family residence (including condos, co-ops, townhouses) that will be used as a principal residence.
No change

All principal residences eligible.

Refundable
Yes. Reduces (or can eliminate) income tax liability for the year of purchase. Any unused amount of tax credit refunded to purchaser.
No change
Purchasers will continue to receive refund for unused amount when tax return is filed.

Income Limit

Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). Phases out above those caps ($95,000 and $170,000).
No change
Same income limits continue to apply.

First-time Homebuyer Only

Yes. Purchaser (and purchaser’s spouse) may not have owned a principal residence in 3 years previous to purchase.
No change
Still available for first-time purchasers only. Three-year rule continues to apply.

Revenue Bond Financing

No credit allowed if home financed with state/local bond funding. Purchasers who utilize revenue bond financing can use credit.

Repayment

Yes. Portion (6.67% of credit or $500) to be repaid each year for 15 years, starting with 2010 tax filing. No repayment for purchases on or after January 1, 2009 and before December 1, 2009

Recapture

If home sold before 15-year repayment period ends, then outstanding balance of repayment amount recaptured on sale. If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009.

Termination

July 1, 2009
(But note program changes for 2009) December 1, 2009

Effective Date

Purchases on or after April 9, 2008 and before January 1, 2009. Repayment to begin for 2010 tax year. All revisions are effective as of January 1, 2009

$8000 New Home Buyer Tax Credit Provisions

Brentwood Homes - New Construction Update In Carolina Park

One of three "spec" homes under construction by Brentwood Homes appears to be under contract. One is at a foundation level stage and the other about 90% completed. Here are some new photos. Book mark this Carolina Park web site for periodic updates on this new Mt. Pleasant community.

Click To Search For New Home Construction In Mt. Pleasant

Under Contract - Sold on 2/23/09.

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

January 30, 2009 Updated Photos Of Roper Hospital Construction in Carolina Park

Updated Photos Of The New Roper Hospital In Carolina Park

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Single Family Lots In Carolina Park Just Released For Sale

Carolina Park continues to release single family building lots for sale in the Tidewater and Palmetto Forrest neighborhoods. The lots are being marketed by Carolina One Realty. Below you will find some photos that I took today of the general location of these lots and some typical pond views of two of the lots. As a "Buyers Agent" with over 14 years experience in the business, I am able to represent your interests in the purchase of one of these or most other building lots in the Charleston area at no cost to you. Feel free to contact me for any information about desirable building lots in Carolina Park or other Charleston area communities. If you live out of town and would like me to preview any lot for you feel free to give me a call at 843-725-5009 or send me an e-mail at JoeEddleman@Realtor.com

Carolina Park Building Lots For Sale

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

January 30, 2009 Updated Photos Of Brentwood Home Construction In Carolina Park

On January 30, 2008, I had an opportunity to look at the progress of the homes being built in Carolina Park by Brentwood Homes. Here are updated photos of two of the homes under construction.

Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com

Release Of Carolina Park Builder Lots To Individual Buyers

On January 28, 2008, Carolina Park released it's first three building lots available to the public. They have been priced between $147,500 and $155,000. The lots are about 1/4 of an acre in size. Reports indicate that lot prices will start at $127,500 with acreage up to .5 acres.

According to a recent news article in the Moultrie News, there is no minimum buidling time requirement. However, the construction must meet the ARB Guidelines. The purchaser can select from a preferred builder list or bring in their own builder as long as the builder goes through the cerified Carolina Park Builder approval process. It is anticipated that the custom builder section of Carolina Park will open in February, 2009.

Phase 1 of Carolina Park will include 22 lots in Palmetto Forest and the Tidewater neighborhoods.

Construction of the new Palmetto Presbyterian Church is expected to begin soon.

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Posted By Joe Eddleman of Agent Owned Realty
824 Johnnie Dodds Blvd.
Mt. Pleasant, SC. 29464
(843)725-5009
http://www.OurCharlestonHome.Com