The pros of the area is decent taxes, close on/off to the GSP, easy access to the bay (and ocean if your boat can handle that) with great fishing and crabbing spots, close proximity to dining , shopping, and just about everything you may need.
The only cons I can see is the traffic of Route 9 in the area can get a bit congested, but not as bad as other places. Another I can see would be the cost of homeowners and flood insurance, not bad, but can be higher depending on just where you would live.
As Patrick says, there are alot of homes available; many at very reasonable prices and as long as you can qualify for financing, if you need it, you can especially find real bargans now.
If I can help any further, call or email.
Best Wishes and Good Luck!