5 Reasons to Buy a Home Now
Conditions are nearly perfect to get a super bargain. But don't dally.
October 1, 2009
If you've been waiting for home prices or interest rates to fall further before you buy a home, it's time to rethink your strategy. If you act soon, you'll be able to take advantage of historically low prices and interest rates that won't be around forever. And if you're a first-time buyer and you act very soon, you can still take advantage of an $8,000 tax credit. Here are five reasons to take the plunge now.
1. You may get a fat tax credit.
The first-time home buyer's tax credit is worth 10% of the home's purchase price, up to a maximum of $8,000. But to lock in the credit, you must close on your purchase by November 30. Given that it usually takes a minimum of 30 to 45 days to get to closing after you and the seller have a ratified purchase contract, your real deadline is closer to October 1.
You don't qualify for the credit if you owned a primary residence in the past three years. And the credit begins to phase out when adjusted gross income is more than $75,000 for single filers, or $150,000 for married couples filing jointly (those with incomes of more than $95,000 and $170,000, respectively, will not receive a credit).
Although several bills before Congress propose to extend or even expand the credit, don't count on it. Legislators are preoccupied with health-care reform and concerned about increasing the federal deficit.
2. Prices are scraping bottom.
It's hard to know whether prices are as low as they'll go, but the housing market is showing signs of life. Between the first and second quarter of 2009, the S&P/Case-Shiller Home Price Indices, a measure of U.S. home prices, rose by 3%. That's the first quarter-over-quarter increase in three years.
Robert Shiller, an economics professor at Yale and a developer of the S&P/Case-Shiller Home Price Indices, says it's too soon to call the uptick a turning point. He says that it may indicate only that the decline in home prices-some 30% since the housing market's peak in mid 2006-is slowing.
The National Association of Realtors (NAR) says homes haven't been this affordable since the 1970s. Based on average income and median home price, a little more than two-thirds of California households could afford to buy an entry-level home during the second quarter of this year, compared with just less than half a year ago.
3. Foreclosures are at record highs.
Distressed sales (foreclosures and short sales) accounted for more than a third of all home-sale transactions in the second quarter of 2009-and represent an opportunity to buy a home at a deep discount.
Such homes typically sell for a 15% to 20% discount from market value. California, Arizona, Florida and Nevada continue to experience the sharpest price declines. Foreclosures will continue to rise with the jobless rate and the last wave of subprime-mortgage delinquencies, despite relief efforts by lenders and the Obama administration.
There are caveats. When REOs (real estate owned by the bank after foreclosure) hit the market, the banks receive multiple offers, often above full price. The banks prefer investors who will pay with cash over "regular" buyers who must seek financing, and they prefer conventional financing over Federal Housing Administration or Department of Veterans Affairs loans.
Buyers think foreclosures are a great deal until they see them in person and realize that often, they need a lot of work. That puts off entry-level buyers who need to save their cash for a down payment or furniture. You're more likely to find a bargain if you work with an agent who handles a lot of foreclosures and gets a heads-up on sales before they hit the market.
Short sales can also be dicey. A short sale means the lender is allowing a home to be sold for less than the mortgage amount. Short sales require patient buyers who can wait out the two to six months typically required to get approval from the bank. Meanwhile, the deal may fall through because the sellers disappear or choose not to cooperate with the process. Or the property could end up in foreclosure because the sellers haven't made their mortgage payments.
4. Rates are cheap.
If there's a silver lining to the recession, it's that interest rates will stay low. That's because investors continue to seek the safety of long-term Treasury bonds, which largely determine mortgage rates. Throughout most of this year, the 30-year fixed rate has hovered near 5%. The 5/1 adjustable-rate mortgage, which has a fixed rate for five years and then converts to a one-year ARM, recently averaged 4.8%.
Keith Gumbinger, who closely follows interest-rate trends as vice-president of financial-publishing firm HSH Associates, expects the 30-year fixed rate to stay around 5.5% for the rest of 2009, absent either a market collapse or economic growth (especially stepped-up hiring). He says that downward and upward forces on rates are canceling each other out right now.
If you can qualify for a mortgage on the home you want at today's rate, holding out for a slightly lower rate is probably a fool's errand. And, if inflation resurges, locking in today's interest rate (and mortgage payment) will look brilliant in hindsight.
To get the best rate, you must put 20% down and have a credit score of 720 or more. Many home buyers have turned to FHA-backed loans, which require a minimum down payment of 3.5% of the purchase price
5. Demand is growing.
In July 2009, existing home sales rose 5% over the year before-the first year-over-year gain since November 2005, according to the NAR. That period also marked an increase in sales over four consecutive months, for the first time since June 2004 (except in the West, where sales fell by 2% between June and July).
The NAR reports that the number of homes for sale fell by 11% from the year before, and at the current pace of sales, that represents a 9.4 months' supply (a four- to six-month supply represents a market balanced between buyers and sellers).
In some areas, competition for deals can be fierce. Atlanta's Debbie Sonenshine, of Coldwell Banker, says that a good house at a good price will get multiple offers and sell quickly. What's a good house? It's clean, it shows well, and it's in a good neighborhood in a good school district.
Thursday, October 1, 2009
Saturday, September 26, 2009
Healing affects of the Ocean
In these turbulent times, I find it comforting to remind myself and others how very fortunate we are to live close to Ocean. Those sea breezes blowing through our homes and lives, will hopefully clear our minds and show us how truly blessed we are to live in such a wonderful Coastal area of North Carolina.
Here is an article I would like to share, regarding the "Healing affects of the Ocean".
Here is an article I would like to share, regarding the "Healing affects of the Ocean".
- The physical and spiritual appeal of water has attracted the infirm and weary throughout history. There is even a special word for the use of seawater in health restoration and maintenance -- "thalassotherapy," which was first written about by Hippocrates. Thalassotherapy comes from the Greek "thalassa" meaning water and "therapia" meaning to heal. The Greeks soaked in sea water hot tubs and heated seaweed baths, drank and inhaled sea water for health, got sea water massages, had sea green facials and body wraps, and used sea water pools for hydrotherapy and elimination of toxins from the body. In modern upscale spas and resorts the sea is used to reduce tension and stress, detoxify the skin and improve circulation, speed weight loss and cellulite control, and even ease menopausal discomforts.
- The ocean is therapeutic and a boundless reservoir of health. It contains all the vital elements: vitamins, mineral salts, trace elements, amino acids and living microorganisms which secrete antibiotic, bacteriostatic and hormonal substances with biological balancing effects. These substances are easily assimilated by our bodies during sea bathing. An interesting fact is that seawater has a similar composition as our blood plasma.
- You don't have to get wet to have the ocean work its healing magic. The gas molecules in the ocean mist create a genuine spray rich in iodine, which helps regulate the thyroid gland. The spray is also loaded with negative ions. Negatives ions strengthen the body's immunological defense mechanisms. This mist of extremely small molecules enters the body through the respiratory system, where they attach to the walls of the lungs for distribution throughout the body.
- Direct contact with ocean water is even more therapeutic. Bathing in seawater acts directly on chronic disorders, helping one overcome ailments, aches and pains. Cool seawater calms down overwrought nerves, tranquilizing the whole body. It also tones up the body, making it more resilient. Warm seawater, during our summer months, improves the circulation and relaxes muscles.
- Seawater baths open the pores and help eliminate toxins from the body. Swimming and wading brings our bodies in contact with the sea's pulsating and massaging waves, its rare minerals, and dissolved gases.
- Although few realize, our skin is our largest organ and absorbs chemicals just as readily as it excretes through sweat. The magnesium content of seawater is significant enough to have a nutritional and calming effect on our nerves, which explains why sea bathing is so relaxing. Potassium in seawater enters the skin and encourages good urinary flow. Seawater contains all the 89 known elements present in our bodies, including osmium, gold, vanadium, zinc, and iodine.
- The skin is the exchange barrier through which these substances pass into the blood stream from the surrounding environment. During swimming, the negative ions move through the epidermis into the dermis, where they are taken up by the capillaries and distributed by the blood to various organs. Calcium ions are carried to the bones while the potassium ions are directed towards the muscles.
- The therapeutic effects of the ocean go far beyond mere physical benefits. The sea makes us dream. It promotes a feeling of liberation and wanderlust. To sailors, there is no feeling so liberating as the ocean breeze filling the sails. Our evolutionary roots are in the sea and we are drawn to it in an almost mystical manner.
- We stand hypnotically on the seashore or on cliffs and look at the ocean for extended periods of time. The sound of the ocean flowing and crashing against rocks fills us with wonder and promotes a profound sense of calmness. The sea has the power can relax us, relive our stress and pain, renew us and soothe our souls.
- The sea provides a healing magic that goes beyond drugs and prescriptions. It forces us to become involved with it. The ocean draws on the strength of plants from the Earth, the water that is a part of all life and the mineral salts from which our bodies are created.
From a metaphysical perspective, water is associated with creativity and our feelings and is the seat of our unconscious patterns. It has to do with emotions that we have suppressed and buried. Being close to the ocean deepens our contemplation and helps us bring these patterns and feelings to the surface so we may recognize and deal with them. - In color therapy, ocean blue is used to balance or enhance freedom of expression verbally and artistically, integrity, honesty, loyalty, reliability, gentleness, kindness, commitment and endurance.
Wednesday, September 10, 2008
Wilmington, NC is a busy coastal town
By ALI MANGKANG
The Atlanta Journal-Constitution
Sunday, August 17, 2008
Wilmington, N.C. — Don’t worry if it has been some time since you’ve laced up your walking shoes. Outdoor options along North Carolina’s southern coast are suited for visitors of all abilities and inclinations.
An added bonus for budget-conscious travelers and families is the many free and low-cost activities. Here are some ideas:
Cape Fear Coast Convention and Visitor's Bureau
Trolley trips, horse-drawn carriage rides and themed walking tours all have starting points in downtown Wilmington.
DOWNTOWN WILMINGTON
Situated between the Cape Fear River and the Atlantic Ocean, Wilmington has been an important seaport for commercial and military operations since the Revolutionary War.
The downtown district borders the Cape Fear River on Water Street, where visitors can stroll the popular River Walk, a series of “pocket” parks connected by a wooden walking deck.
Here you can catch a glimpse of the decommissioned battleship “USS North Carolina” moored across the river or wander to one of the many eclectic shops, galleries and restaurants along adjacent streets.
Themed walking tours (including ghost tours and film location tours), horse-drawn carriage rides, trolley trips and riverboat tours all have starting points downtown.
Visitor information: Coastal highway U.S. 17 turns into Market Street downtown. Limited metered parking and three designated parking decks offer short- and long-term parking options. Wilmington/Cape Fear Coast Convention and Visitors Bureau, 24 N. Third St., 1-877-406-2356, http://www.capefearcoast.com/.
Noteworthy:
• Battleship North Carolina, 1 Battleship Road, 910-251-5797, http://www.battleshipnc.com/.
• Cape Fear Riverboats, 101 S. Water St. Unit 1, 1-800-676-0162, http://www.cfrboats.com/.
• Springbrook Farms/Horse Drawn Carriage, Market and Water streets,
910-251-8889, http://www.horsedrawntours.com/.
• Wilmington Trolley Company, corner of Dock and Water streets, 910-763-4483, http://www.wilmingtontrolley.com/.
• Black Cat Shoppe (themed walking tours), 11 Market St., 910-251-6663, http://www.theblackcatshoppe.net/.
CAROLINA BEACH, CAROLINA BEACH STATE PARK
On Pleasure Island, 10 miles south of Wilmington, this 761-acre park is home to several coastal ecosystems. Walkers can choose from six nature trails ranging from 0.5 to 3 miles.
Before you set out, stop by the visitors center and check out the interpretive gallery, which provides an overview of the biodiversity within the park’s boundaries.
Of particular interest are several varieties of carnivorous plants, including Venus’ flytraps, pitcher plants and bladderworts, identifiable on the appropriately named “Flytrap Trail.”
Park rangers offer free guided hikes and programs throughout the year. Nature lovers can enjoy an extended stay at one of the 83 shaded campsites, which can be reserved for $15 a night.
Visitor information: Carolina Beach State Park is accessible off
U.S. 421 on Dow Road. The visitors center is open 8 a.m.-5 p.m. daily. 910-458-8206, www.ncparks.gov/Visit/parks/cabe/main.php. Free parking and day use.
Noteworthy:
• Carolina Coastal Adventures. Guided kayak tours with an emphasis on ecological education. 103 Winner Ave., Carolina Beach. 910-458-9111, http://www.carolinacoastaladventures.com/.
• Carolina Beach Lake Park. This park has a .67-mile paved trail, great for a family bike ride or walk, that circles a 9-acre lake. Boat rentals available and facilities include restrooms, picnic shelters and a children’s playground. 400 S. Lake Park Blvd., Carolina Beach, http://www.carolinabeach.org/, 910-458-7416.
KURE BEACH: FORT FISHER
Drive a few miles past the Kure Beach pier on the southern end of Pleasure Island and you’ll notice grassy mounds that protrude well above the low-lying area.
The mounds are part of the original structure of Fort Fisher, the last major stronghold of the Confederacy during the Civil War.
Under the command of Col. William Lamb, who oversaw the improvement of fortifications that stretched 1.5 miles from the Cape Fear River to the Atlantic Ocean, Fort Fisher became a formidable obstacle to enemies and an asset to Confederate forces who relied on the port for supplies and munitions.
On Jan. 15, 1865, however, a well-planned second attempt by Union forces (also the largest land/sea battle in U.S. history until World War II) resulted in the fort’s ultimate seizure.
In 1958, North Carolina leased 187 acres of the original fort from the federal government to develop the area as a historic site.
The area now includes a museum, a recreation area and one of three coastal aquariums in the state.
The museum houses artifacts recovered from the site and surrounding areas (Fort Fisher also is home to the state’s Underwater Archaeology Unit) and offers guided tours of the historic grounds.
Visitor information: Fort Fisher Historic Site Museum is off U.S. 421 just south of Kure Beach. 1610 Fort Fisher Blvd. South. 9 a.m.-5 p.m. Mondays-Saturdays, 1-5 p.m. Sundays. Guided tours at 9:30 and 11 a.m.,
1:30 and 3 p.m. Mondays-Fridays and 1:30 and 3 p.m. Saturdays-Sundays. Admission is free. 910-458-5538, www.nchistoricsites.org/fisher.
Noteworthy:
• Fort Fisher Recreation Area. Free public beach access, picnic facilities, wildlife exhibitions, special programs and off-road vehicle beach access ($10 fee required for vehicle access). 1000 Loggerhead Road, Kure Beach, 910-458-5798, www.ncparks.gov/Visit/parks/fofi/main.php.
• North Carolina Aquarium at Fort Fisher. In addition to permanent exhibitions, the aquarium offers low-cost field trips including canoe tours, salt marsh hikes and surf-fishing workshops. 2201 S. Fort Fisher Blvd. 1-866-301-3476, http://www.ncaquariums.com/.
OAK ISLAND/CASWELL BEACH: ABOVE THE CLOUDS
Anchored at the northern tip of the Brunswick County Islands are the neighboring communities of Oak Island and Caswell Beach, home to the Oak Island Lighthouse.
Completed in 1958 and standing 169 feet above water, the lighthouse, distinguished by three alternating bands of pigmented concrete, never needs to be repainted.
The signal generated by the 2.5-million-candlepower lantern is visible as far away as 24 nautical miles and operates continuously with a uniquely assigned flash pattern.
Visitors who want to get a glimpse inside the structure can join one of the public tours offered by the Friends of Oak Island Lighthouse, whose members lead guests on a brief trip to the second floor of the lighthouse twice weekly through the summer months.
The group also arranges special tours to the top of the tower year-round, accessible by a series of 131 steps up ship’s ladders permanently positioned inside.
If that’s not enough time with your feet off the ground, stop by Brunswick County Airport, where two companies offer bird’s-eye views aboard a vintage biplane or strapped into a parachute on a skydiving trip.
Visitor information: About 33 miles south of Wilmington, Oak Island is accessible via N.C. 133. The lighthouse is beside the U.S. Coast Guard Station, 300A Caswell Beach Road. The Southport-Oak Island Area Chamber of Commerce, 4841 Long Beach Road S.E., Southport, 1-800-457-6964, http://www.southport-oakisland.com/.
Noteworthy:
• Friends of the Oak Island Lighthouse. Tours of the lighthouse’s second floor (ages 7 and older) run through the summer months on Wednesdays and Saturdays, 10 a.m.-2 p.m., with tours departing every half-hour. Top-of-the-lighthouse tours are available year-round with a two-week advance reservation (ages 10 and older) through the Friends of Oak Island Web site. All tours are free and depart at the lighthouse. There is limited on-site parking. http://www.oakislandlighthouse.org/.
• Suncoast Aviation. Jim Banky pilots aerial tours aboard the Carolina Belle, a 1942 WACO UPF-7 open cockpit biplane, year-round, 9 a.m.-6 p.m. Mondays-Saturdays, 10 a.m.-5 p.m. Sundays. Reservations recommended. 910-279-9476, www.42biplanerides.com. Tours are $125 per person.
• Skydive Coastal Carolinas. Skydiving instruction and trips year-round, ages 18 and older. 1-888-899-5867, http://www.skydivecoastalcarolinas.com/. Tours begin at $195 a person.
SUNSET BEACH: BIRD ISLAND
The southernmost beach along the coast of North Carolina, Sunset Beach is an unassuming 3-mile stretch of sand parallel to Main Street.
Construction of a new bridge connecting the mainland to the beach is underway after debate about the safety and longevity of the town’s unique one-lane wooden swing bridge built in 1961.
Remarkably in a town so small, it is not the first bridge battle to be waged. In 1992, a group of locals (notably Frank Nesmith, who served as both tour guide and historian during my walk to Bird Island) formed the Bird Island Preservation Society to stop proposed development, including the construction of a bridge and housing on what was then a privately owned island separated from Sunset Beach by Mad Inlet.
The bridge was never built, and in 2002, after several years of negotiations, North Carolina completed the purchase of 1,300 acres of beach, marsh and wetlands known as Bird Island, designating it a protected coastal reserve.
Because of the closure of Mad Inlet in 1997, the area is no longer its own island and is easily accessed by walking west along Sunset Beach.
At about the 1 1/2-mile mark, visitors can stop at the “Kindred Spirit” mailbox positioned atop a small dune. Inside the mailbox, dreams and prayers mingle with the revelations and thoughts of passers-by that fill several notebooks.
A little farther down, beachgoers can straddle the state line between North and South Carolina (where a pair of blue granite jetties jutting out into the sea serve as a turnaround point).
From here, you can see the sharply contrasted landscape of nearby Myrtle Beach, heavily developed with high-rises and attractions.
Before you go: Check out local photographer Jo O’Keefe’s Web site, where she documents her frequent encounters with the plants, animals and sea life in this area. http://www.okeefes.org/.
Visitor information: The town of Sunset Beach is about 45 miles south of Wilmington via Ocean Highway East/U.S. 17 South to N.C. 179. Beach access and parking are available at Sunset Boulevard South and Main Street. Closer access to Bird Island is at West Main and 40th streets, although parking is limited. To reach Bird Island, access the beach from either point, turn right and keep walking. Brunswick County Chamber of Commerce, 4948 Main St., Shallotte, 1-800-426-6644, http://www.brunswickcountychamber.org/.
Noteworthy:
• Ingram Planetarium. The 85-seat domed Sky Theatre offers a closer look at the universe with several presentations. The Village at Sunset Beach, 7625 High Market St., Sunset Beach, 910-575-0033, www.ingramplanetarium.org.
• Coastal Carolina Museum.
A natural history museum centered on the habitats, history and preservation of the coastal area with seven themed galleries, including exhibits and hands-on activities. 21 East Second St., Ocean Isle Beach, 910-579-1016, http://www.museumofcc.org/.
The Atlanta Journal-Constitution
Sunday, August 17, 2008
Wilmington, N.C. — Don’t worry if it has been some time since you’ve laced up your walking shoes. Outdoor options along North Carolina’s southern coast are suited for visitors of all abilities and inclinations.
An added bonus for budget-conscious travelers and families is the many free and low-cost activities. Here are some ideas:
Cape Fear Coast Convention and Visitor's Bureau
Trolley trips, horse-drawn carriage rides and themed walking tours all have starting points in downtown Wilmington.
DOWNTOWN WILMINGTON
Situated between the Cape Fear River and the Atlantic Ocean, Wilmington has been an important seaport for commercial and military operations since the Revolutionary War.
The downtown district borders the Cape Fear River on Water Street, where visitors can stroll the popular River Walk, a series of “pocket” parks connected by a wooden walking deck.
Here you can catch a glimpse of the decommissioned battleship “USS North Carolina” moored across the river or wander to one of the many eclectic shops, galleries and restaurants along adjacent streets.
Themed walking tours (including ghost tours and film location tours), horse-drawn carriage rides, trolley trips and riverboat tours all have starting points downtown.
Visitor information: Coastal highway U.S. 17 turns into Market Street downtown. Limited metered parking and three designated parking decks offer short- and long-term parking options. Wilmington/Cape Fear Coast Convention and Visitors Bureau, 24 N. Third St., 1-877-406-2356, http://www.capefearcoast.com/.
Noteworthy:
• Battleship North Carolina, 1 Battleship Road, 910-251-5797, http://www.battleshipnc.com/.
• Cape Fear Riverboats, 101 S. Water St. Unit 1, 1-800-676-0162, http://www.cfrboats.com/.
• Springbrook Farms/Horse Drawn Carriage, Market and Water streets,
910-251-8889, http://www.horsedrawntours.com/.
• Wilmington Trolley Company, corner of Dock and Water streets, 910-763-4483, http://www.wilmingtontrolley.com/.
• Black Cat Shoppe (themed walking tours), 11 Market St., 910-251-6663, http://www.theblackcatshoppe.net/.
CAROLINA BEACH, CAROLINA BEACH STATE PARK
On Pleasure Island, 10 miles south of Wilmington, this 761-acre park is home to several coastal ecosystems. Walkers can choose from six nature trails ranging from 0.5 to 3 miles.
Before you set out, stop by the visitors center and check out the interpretive gallery, which provides an overview of the biodiversity within the park’s boundaries.
Of particular interest are several varieties of carnivorous plants, including Venus’ flytraps, pitcher plants and bladderworts, identifiable on the appropriately named “Flytrap Trail.”
Park rangers offer free guided hikes and programs throughout the year. Nature lovers can enjoy an extended stay at one of the 83 shaded campsites, which can be reserved for $15 a night.
Visitor information: Carolina Beach State Park is accessible off
U.S. 421 on Dow Road. The visitors center is open 8 a.m.-5 p.m. daily. 910-458-8206, www.ncparks.gov/Visit/parks/cabe/main.php. Free parking and day use.
Noteworthy:
• Carolina Coastal Adventures. Guided kayak tours with an emphasis on ecological education. 103 Winner Ave., Carolina Beach. 910-458-9111, http://www.carolinacoastaladventures.com/.
• Carolina Beach Lake Park. This park has a .67-mile paved trail, great for a family bike ride or walk, that circles a 9-acre lake. Boat rentals available and facilities include restrooms, picnic shelters and a children’s playground. 400 S. Lake Park Blvd., Carolina Beach, http://www.carolinabeach.org/, 910-458-7416.
KURE BEACH: FORT FISHER
Drive a few miles past the Kure Beach pier on the southern end of Pleasure Island and you’ll notice grassy mounds that protrude well above the low-lying area.
The mounds are part of the original structure of Fort Fisher, the last major stronghold of the Confederacy during the Civil War.
Under the command of Col. William Lamb, who oversaw the improvement of fortifications that stretched 1.5 miles from the Cape Fear River to the Atlantic Ocean, Fort Fisher became a formidable obstacle to enemies and an asset to Confederate forces who relied on the port for supplies and munitions.
On Jan. 15, 1865, however, a well-planned second attempt by Union forces (also the largest land/sea battle in U.S. history until World War II) resulted in the fort’s ultimate seizure.
In 1958, North Carolina leased 187 acres of the original fort from the federal government to develop the area as a historic site.
The area now includes a museum, a recreation area and one of three coastal aquariums in the state.
The museum houses artifacts recovered from the site and surrounding areas (Fort Fisher also is home to the state’s Underwater Archaeology Unit) and offers guided tours of the historic grounds.
Visitor information: Fort Fisher Historic Site Museum is off U.S. 421 just south of Kure Beach. 1610 Fort Fisher Blvd. South. 9 a.m.-5 p.m. Mondays-Saturdays, 1-5 p.m. Sundays. Guided tours at 9:30 and 11 a.m.,
1:30 and 3 p.m. Mondays-Fridays and 1:30 and 3 p.m. Saturdays-Sundays. Admission is free. 910-458-5538, www.nchistoricsites.org/fisher.
Noteworthy:
• Fort Fisher Recreation Area. Free public beach access, picnic facilities, wildlife exhibitions, special programs and off-road vehicle beach access ($10 fee required for vehicle access). 1000 Loggerhead Road, Kure Beach, 910-458-5798, www.ncparks.gov/Visit/parks/fofi/main.php.
• North Carolina Aquarium at Fort Fisher. In addition to permanent exhibitions, the aquarium offers low-cost field trips including canoe tours, salt marsh hikes and surf-fishing workshops. 2201 S. Fort Fisher Blvd. 1-866-301-3476, http://www.ncaquariums.com/.
OAK ISLAND/CASWELL BEACH: ABOVE THE CLOUDS
Anchored at the northern tip of the Brunswick County Islands are the neighboring communities of Oak Island and Caswell Beach, home to the Oak Island Lighthouse.
Completed in 1958 and standing 169 feet above water, the lighthouse, distinguished by three alternating bands of pigmented concrete, never needs to be repainted.
The signal generated by the 2.5-million-candlepower lantern is visible as far away as 24 nautical miles and operates continuously with a uniquely assigned flash pattern.
Visitors who want to get a glimpse inside the structure can join one of the public tours offered by the Friends of Oak Island Lighthouse, whose members lead guests on a brief trip to the second floor of the lighthouse twice weekly through the summer months.
The group also arranges special tours to the top of the tower year-round, accessible by a series of 131 steps up ship’s ladders permanently positioned inside.
If that’s not enough time with your feet off the ground, stop by Brunswick County Airport, where two companies offer bird’s-eye views aboard a vintage biplane or strapped into a parachute on a skydiving trip.
Visitor information: About 33 miles south of Wilmington, Oak Island is accessible via N.C. 133. The lighthouse is beside the U.S. Coast Guard Station, 300A Caswell Beach Road. The Southport-Oak Island Area Chamber of Commerce, 4841 Long Beach Road S.E., Southport, 1-800-457-6964, http://www.southport-oakisland.com/.
Noteworthy:
• Friends of the Oak Island Lighthouse. Tours of the lighthouse’s second floor (ages 7 and older) run through the summer months on Wednesdays and Saturdays, 10 a.m.-2 p.m., with tours departing every half-hour. Top-of-the-lighthouse tours are available year-round with a two-week advance reservation (ages 10 and older) through the Friends of Oak Island Web site. All tours are free and depart at the lighthouse. There is limited on-site parking. http://www.oakislandlighthouse.org/.
• Suncoast Aviation. Jim Banky pilots aerial tours aboard the Carolina Belle, a 1942 WACO UPF-7 open cockpit biplane, year-round, 9 a.m.-6 p.m. Mondays-Saturdays, 10 a.m.-5 p.m. Sundays. Reservations recommended. 910-279-9476, www.42biplanerides.com. Tours are $125 per person.
• Skydive Coastal Carolinas. Skydiving instruction and trips year-round, ages 18 and older. 1-888-899-5867, http://www.skydivecoastalcarolinas.com/. Tours begin at $195 a person.
SUNSET BEACH: BIRD ISLAND
The southernmost beach along the coast of North Carolina, Sunset Beach is an unassuming 3-mile stretch of sand parallel to Main Street.
Construction of a new bridge connecting the mainland to the beach is underway after debate about the safety and longevity of the town’s unique one-lane wooden swing bridge built in 1961.
Remarkably in a town so small, it is not the first bridge battle to be waged. In 1992, a group of locals (notably Frank Nesmith, who served as both tour guide and historian during my walk to Bird Island) formed the Bird Island Preservation Society to stop proposed development, including the construction of a bridge and housing on what was then a privately owned island separated from Sunset Beach by Mad Inlet.
The bridge was never built, and in 2002, after several years of negotiations, North Carolina completed the purchase of 1,300 acres of beach, marsh and wetlands known as Bird Island, designating it a protected coastal reserve.
Because of the closure of Mad Inlet in 1997, the area is no longer its own island and is easily accessed by walking west along Sunset Beach.
At about the 1 1/2-mile mark, visitors can stop at the “Kindred Spirit” mailbox positioned atop a small dune. Inside the mailbox, dreams and prayers mingle with the revelations and thoughts of passers-by that fill several notebooks.
A little farther down, beachgoers can straddle the state line between North and South Carolina (where a pair of blue granite jetties jutting out into the sea serve as a turnaround point).
From here, you can see the sharply contrasted landscape of nearby Myrtle Beach, heavily developed with high-rises and attractions.
Before you go: Check out local photographer Jo O’Keefe’s Web site, where she documents her frequent encounters with the plants, animals and sea life in this area. http://www.okeefes.org/.
Visitor information: The town of Sunset Beach is about 45 miles south of Wilmington via Ocean Highway East/U.S. 17 South to N.C. 179. Beach access and parking are available at Sunset Boulevard South and Main Street. Closer access to Bird Island is at West Main and 40th streets, although parking is limited. To reach Bird Island, access the beach from either point, turn right and keep walking. Brunswick County Chamber of Commerce, 4948 Main St., Shallotte, 1-800-426-6644, http://www.brunswickcountychamber.org/.
Noteworthy:
• Ingram Planetarium. The 85-seat domed Sky Theatre offers a closer look at the universe with several presentations. The Village at Sunset Beach, 7625 High Market St., Sunset Beach, 910-575-0033, www.ingramplanetarium.org.
• Coastal Carolina Museum.
A natural history museum centered on the habitats, history and preservation of the coastal area with seven themed galleries, including exhibits and hands-on activities. 21 East Second St., Ocean Isle Beach, 910-579-1016, http://www.museumofcc.org/.
Local Market Coming to Brunswick County
There's a new market coming to Brunswick County, but its name probably isn't one you'll recognize.
That's because it's not one of the big grocery chains that most Southeastern North Carolina residents frequent.
Lockwood Folly Marketplace, once it's up and running in a couple of months, will be a neighborhood establishment that will sell locally grown, naturally raised food products along with an assortment of specialty gift and gourmet items.
It's coming to 48 Stone Chimney Road in Supply partly because of a grant from the N.C. Rural Economic Development Center, a nonprofit organization serving the state's 85 rural counties and funded by public and private sources.
Lindsay Hewett found out that her planned privately owned market had received the $50,000 building reuse and restoration grant late last month. The grant came just as she was about to begin renovation work on the 3,100-square-foot former grocery store and tax service office that had been in her family since 1963. The building had been vacant for two years. In exchange for the grant - which center officials describe as a deferred, forgivable loan - the business must create five new jobs within two years.
"We were praying that we would get it," Hewett said. "Even now, it still hasn't sunken in yet. We're certainly thankful for it."
The grant was among $3.7 million awarded by the center in August, made possible mostly because of appropriations by the N.C. General Assembly. It is Brunswick County's first since the program began in 2004, said Melody Adams, director of the center's building reuse and restoration grants program.
"It allows communities to reuse buildings that in many cases were a drain on the county's resources and were providing no real tax base or tax economy and were in many cases an eyesore," she said of the program.
Most of Lockwood Folly Marketplace's products will be from Southeastern North Carolina, with others from different regions of the state, Hewett said.
"My husband and I both value the importance of locally grown products," she said. "Not only do they taste better, but they're healthier for you as well."
Martha Warner, an agent with the Brunswick County office of the N.C. Cooperative Extension, said Hewett makes personal visits to the farms that will sell at the market to see where the products are coming from and validate growing practices.
"It's kind of like the new movement, the new way of trying to connect consumers with their food and trying to promote local foods," Warner said.
But if you think Lockwood Folly, scheduled to open on Nov. 17, is going to be your typical farmers market, think again. In addition to the regular goodies such as fresh meat, cheeses, cage-free chicken eggs, hand-dipped ice cream, sauces, plants, bottled milk and baked goods, it will offer home decor, collegiate gift items, garden flags, natural cleaning products, gourmet lunches to go, a few tables for indoor dining and a free wireless Internet connection. Hewett envisions it as both a frequent stop for locals and a tourist attraction.
Hours will be 9:30 a.m. to 6:30 p.m. Monday through Saturday. For more information, log on to www.lockwoodfollymarketplace.com.
That's because it's not one of the big grocery chains that most Southeastern North Carolina residents frequent.
Lockwood Folly Marketplace, once it's up and running in a couple of months, will be a neighborhood establishment that will sell locally grown, naturally raised food products along with an assortment of specialty gift and gourmet items.
It's coming to 48 Stone Chimney Road in Supply partly because of a grant from the N.C. Rural Economic Development Center, a nonprofit organization serving the state's 85 rural counties and funded by public and private sources.
Lindsay Hewett found out that her planned privately owned market had received the $50,000 building reuse and restoration grant late last month. The grant came just as she was about to begin renovation work on the 3,100-square-foot former grocery store and tax service office that had been in her family since 1963. The building had been vacant for two years. In exchange for the grant - which center officials describe as a deferred, forgivable loan - the business must create five new jobs within two years.
"We were praying that we would get it," Hewett said. "Even now, it still hasn't sunken in yet. We're certainly thankful for it."
The grant was among $3.7 million awarded by the center in August, made possible mostly because of appropriations by the N.C. General Assembly. It is Brunswick County's first since the program began in 2004, said Melody Adams, director of the center's building reuse and restoration grants program.
"It allows communities to reuse buildings that in many cases were a drain on the county's resources and were providing no real tax base or tax economy and were in many cases an eyesore," she said of the program.
Most of Lockwood Folly Marketplace's products will be from Southeastern North Carolina, with others from different regions of the state, Hewett said.
"My husband and I both value the importance of locally grown products," she said. "Not only do they taste better, but they're healthier for you as well."
Martha Warner, an agent with the Brunswick County office of the N.C. Cooperative Extension, said Hewett makes personal visits to the farms that will sell at the market to see where the products are coming from and validate growing practices.
"It's kind of like the new movement, the new way of trying to connect consumers with their food and trying to promote local foods," Warner said.
But if you think Lockwood Folly, scheduled to open on Nov. 17, is going to be your typical farmers market, think again. In addition to the regular goodies such as fresh meat, cheeses, cage-free chicken eggs, hand-dipped ice cream, sauces, plants, bottled milk and baked goods, it will offer home decor, collegiate gift items, garden flags, natural cleaning products, gourmet lunches to go, a few tables for indoor dining and a free wireless Internet connection. Hewett envisions it as both a frequent stop for locals and a tourist attraction.
Hours will be 9:30 a.m. to 6:30 p.m. Monday through Saturday. For more information, log on to www.lockwoodfollymarketplace.com.
Sunday, September 7, 2008
Home Equity Still Rising in Wilmington, NC
Housing MarketsU.S. Cities With The Most Home Equity
Behind The Numbers Using data from Moody's Economy.com, we looked at the country's 200 largest metro areas to determine which are retaining home equity in the face of a nationwide housing softening.
But high home equity figures don't necessarily insure prosperity for the coming year. Still, it will likely insulate the cities on this list, to some degree, from the pitfalls of low equity including decreased tax base for local governments and lower consumer spending thanks to lower net worths. More than anything, it means these cities have a better outlook should the housing downturn continue into the next decade.
In Depth: U.S. Cities With The Most Home Equity
20. Wilmington, N.C.
Home equity as percent of value: 61%
Average home equity: $117,470
Home equity as percent of value (2007): 64%
Households with two or more mortgages: 6.99%
Behind The Numbers Using data from Moody's Economy.com, we looked at the country's 200 largest metro areas to determine which are retaining home equity in the face of a nationwide housing softening.
But high home equity figures don't necessarily insure prosperity for the coming year. Still, it will likely insulate the cities on this list, to some degree, from the pitfalls of low equity including decreased tax base for local governments and lower consumer spending thanks to lower net worths. More than anything, it means these cities have a better outlook should the housing downturn continue into the next decade.
In Depth: U.S. Cities With The Most Home Equity
20. Wilmington, N.C.
Home equity as percent of value: 61%
Average home equity: $117,470
Home equity as percent of value (2007): 64%
Households with two or more mortgages: 6.99%
Monday, August 18, 2008
HOUSING AND ECONOMIC RECOVERY ACT OF 2008
First‐time Homebuyer Tax Credit
FEATURE
H.R. 3221
Housing and Economic Recovery Act of 2008
Amount of Credit
Ten percent of cost of home, not to exceed
$7500
Eligible Property
Any single‐family residence (including condos, co‐ops) that will be used as a principal residence.
Refundable
Yes. Reduces income tax liability for the year of purchase. Claimed on tax return for that tax year.
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, respectively).
First‐time Homebuyer Only
Yes. Purchaser (and purchaser’s spouse) may not have owned a principal residence in 3 years previous to purchase.
Recapture
Yes. Portion (6.67 % of credit) to be repaid each year for 15 years. If home sold before 15 years, then remainder of credit recaptured on sale.
Impact on District of Columbia Homebuyer Credit
DC credit not available if purchaser uses this credit.
Effective Date
Purchases on or after April 9, 2008
Termination
July 1, 2009
Interaction with Alternative Minimum Tax
Can be used against AMT, so credit will not throw individual into AMT.
Wilmington, NC ranked #7 by CNN
37% Projected gain in home prices (5-year)*
Median home price: 2006 $217,000 2011 $297,000
Population: 2006 325,000 2011 361,000
Per capita income: 2006 $30,500 2011 $38,300
*Metro region statistics
Nestled between the Cape Fear River and North Carolina's Inner Bank beaches, Wilmington has great golf, mild weather, natural beauty, and a relatively cheap cost of living, all of which make it popular with both permanent residents and second-home vacationers.But it hasn't always been this way.
It was an isolated backwater until 1990, when the final 120-mile stretch of I-40 opened. Now the Research Triangle's well-heeled tech workers can be at the beach in three hours.
As the only city of any significant size on the North Carolina coast, Wilmington may be just at the beginning of its boom. It has a seaport, an international airport, and a UNC campus. But it has also maintained its "historic" ambience, bringing it another revenue stream: Hollywood has filmed 180 features here during the past two decades.
37% Projected gain in home prices (5-year)*
Median home price: 2006 $217,000 2011 $297,000
Population: 2006 325,000 2011 361,000
Per capita income: 2006 $30,500 2011 $38,300
*Metro region statistics
Nestled between the Cape Fear River and North Carolina's Inner Bank beaches, Wilmington has great golf, mild weather, natural beauty, and a relatively cheap cost of living, all of which make it popular with both permanent residents and second-home vacationers.But it hasn't always been this way.
It was an isolated backwater until 1990, when the final 120-mile stretch of I-40 opened. Now the Research Triangle's well-heeled tech workers can be at the beach in three hours.
As the only city of any significant size on the North Carolina coast, Wilmington may be just at the beginning of its boom. It has a seaport, an international airport, and a UNC campus. But it has also maintained its "historic" ambience, bringing it another revenue stream: Hollywood has filmed 180 features here during the past two decades.
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