Carolina Coastal Review

Sullivan's Island Bridge to Close Starting December 4th

Associated Press - November 25, 2009 5:05 PM ET

MOUNT PLEASANT, S.C. (AP) - 1 of 2 bridges connecting an island to the to the South Carolina mainland will soon be closed to help the replacement of an aging swing bridge.  South Carolina transportation officials told the Post and Courier of Charleston the current plan is to shut the Ben Sawyer Bridge between Sullivans Island and the mainland for ten days beginning Dec. 4, but they say that date could change.

Officials say a barge will bring the new 640-ton span to replace the old one.  Crews will work around the clock to reopen the bridge as soon as possible. Until then, the only way to reach Sullivans Island will be a several-mile detour on the Isle of Palms Connector. The work is part of a $31.5 million replacement of the old bridge.
Information from: The Post and Courier, http://www.postandcourier.com

Significant price reduction on an oceanfront lot on Dewees Island. 2.17 acrea lot on front beach now asking $695,000 with seller willing to pay two years of POA dues at closing. If you are not familiar with Dewees, it is a private 1,200 acre island limited to 150 lots. There are currently 65 homes and access to the island is by ferry from Isle of Palms. More information about Dewees at www.deweesisland.net

Low Prices Draw Investors Back to Market

Sales on Charleston's barrier islands are increasing as each month passes.  The primary reason is that real estate investors are moving back into the market to take advantage of some of the incredible deals that come about as a result of short-sales and bank owned properties.

According to a recent Move.com survey, 12.1 percent of home buyers today plan to buy a home as an investment property, compared to 5.6 percent in March 2009. The survey found that 15.8 percent of those interested in investment property were men and 8.1 percent were women and 52.6 percent of the investment buyers were between ages 35 to 49.

Of the 25.3 percent of buyers who are focusing on foreclosure properties, 42 percent regard the purchase they are considering an investment and don’t plan to live in the property themselves; 13.2 percent plan to rent out the property; 11.3 percent are going to fix up the property and resell it; and 17.4 percent plan to house a family member until the property can be sold profitably.

Buyers of investment and personal property say they are motivated by these factors:

• Prices are as low as they will go, 23.6 percent

Foreclosure prices are a bargain, 18.7 percent

Great selection of homes for sale in their target community, 21.2 percent

Concerned interest rates will rise, 14.2 percent

Government Money Offered as Real Estate Buying Incentive

As part of the government's efforts to encourage people to spend money to help revive the economy, the House voted 403-12 Thursday to expand a popular tax credit for homebuyers. Buy a home before May 1 and collect up to $6,500 from the government.  If you're a first-time homebuyer, get up to $8,000.  The credit is available for the purchase of principal homes costing $800,000 or less (vacation homes are ineligible). The credit would be phased out for individuals with annual incomes above $125,000 and for joint filers with incomes above $225,000.  First time homebuyers and now move up buyers have some incentives to take action.

Ben Sawyer Bridge Replacement Update

South Carolina DOT and PCL Civil Constructors, Inc., the Design Build Contractor for the Ben Sawyer Bridge, have determined the potential start date for the Ben Sawyer Bridge Rehabilitation Project’s necessary Intracoastal Waterway closure will be no sooner than November 30, 2009. The roadway closure of Ben Sawyer Boulevard at the Ben Sawyer Bridge is expected to begin approximately three days after the waterway closure.  The bridge links Sullivan's Island with the mainland in Mt. Pleasant.  Dates are not firm so follow the latest news at www.bensawyerbridge.com

Restaurant Deals; Save 68% When Eating Out

Headed to Charleston and looking to save a few bucks on some great local restaurants, consider using restaurant coupons.  The Rewards Mall (www.rewards-mall.net) offers $25 off coupons for just $8.  These are printable coupons.  Participating restaurants on Isle of Palms, Sullivan’s Island, Mt. Pleasant and Charleston include Morgan Creek Grill, Acme Cantina, Atlanticville, Station 22, Seels, Bambu, Infuzions, Red Drum, and Oak Steakhouse.  Coupons are available for restaurants throughout the USA.

Wild Dunes USTA Senior Tennis Starts Today

Wild Dunes Resort will host the United States Tennis Association (USTA) South Carolina Section of the Super Senior Tennis Tournament starting today, November 5 through Sunday, November 8, 2009, at the Resort’s Tennis Center. The event is open to the public, and there is no charge for spectators.