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/.
Wednesday, September 10, 2008
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.
Sunday, August 17, 2008
The North Carolina Coast Has Something for Everyone
The North Carolina coast – it's adventure, romance, history, and a whole lot more! This is the perfect location for retirement or vacationing, and the good news is, NC coastal properties are ready and waiting right now for the retiree, a second vacation home, or an investment in your future. Come to the North Carolina coast for a few days and you'll be certain to fall in love with this recreational paradise.
People love to come home to the Carolina Coast because it's easily accessible from many East Coast locations, there are activities galore, and the area is simply stunning, there's no other way to describe it. Fishing, boating, golf, beaches, museums, the area is rich in all these things and more. When you discover the Carolina Coast, you discover a wealth of outdoor and indoor delights for the entire family. You'll also find upscale dining, marinas just waiting for that boat you've always wanted, hiking and biking trails, and just about any kind of recreational activity you can think of.
Brunswick County has been rated one of the top 10 beach vacation spots for families. Why? Because there's something for everyone here! The Intracoastal Waterway abounds in family activities, Holden Beach is a great family beach waiting for discovery, and the area is chock full of parks, museums, shopping, and outdoor activities for every member of the family. Visit just once and you'll be drawn back again and again. There are still great opportunities to buy vacation property in the area, so the entire family can retreat, regroup, and relax any time you choose.
Nearby Wilmington and the Cape Fear coast offer even more recreational opportunities. Enjoy a round of golf? You're in luck. With nearly 50 public courses in the area, Wilmington's courses are rated the eighth best metro golfing area in the nation because these area courses offer value, accessibility, and quality all rolled into one. Even if you're not a golfer, you'll find an overabundance of outdoor and indoor activities in the area. Tour historic districts, museums, and a Civil War battlefield if you're a history buff. Shop 'til you drop at the many stores, boutiques, galleries, and craft shops in the area. Take in a show, cruise the river, rent a kayak, bike, hike, or just kick back and relax. You can do it all on the North Carolina Coast!
Now, picture yourself retiring to this glorious area in North Carolina. The golf, the sun, the beaches, and the cities beckon. You'll never run out of activities here, and it's becoming a favorite spot for baby boomers looking for the perfect retirement location. You'll be close to all the services you desire, but still have room to breathe in the salt air. What could be better? In addition, Brunswick County has the highest price appreciation in the Carolinas, so your investment today will reap even more rewards in the years to come.
Why invest in real estate in coastal North Carolina? First, it's an investment that will last a lifetime. Whether you choose to retire to the Carolina Coast or use your home as a second vacation destination, your investment will grow with time. Real estate prices have increased all over the country, but they are still reasonable in this area. In addition, the second home marketplace is actually even healthier than the primary home marketplace. People are investing in second homes; it's as simple as that. In addition, the Carolina Coast is a baby boomers paradise, which is why more people are choosing this area to celebrate their golden years. If you buy now, your second home could turn into your retirement paradise in a few years. Top that off with one of the top five second home markets in the nation and you've found the perfect location to enjoy for years to come, and you can be assured your investment will only grow with time.
So, what are you waiting for? Check out the Carolina Coast! You may find your dream vacation home just waiting for you, and you're certain to enjoy the activities, surroundings, and adventures that await every time you return.
People love to come home to the Carolina Coast because it's easily accessible from many East Coast locations, there are activities galore, and the area is simply stunning, there's no other way to describe it. Fishing, boating, golf, beaches, museums, the area is rich in all these things and more. When you discover the Carolina Coast, you discover a wealth of outdoor and indoor delights for the entire family. You'll also find upscale dining, marinas just waiting for that boat you've always wanted, hiking and biking trails, and just about any kind of recreational activity you can think of.
Brunswick County has been rated one of the top 10 beach vacation spots for families. Why? Because there's something for everyone here! The Intracoastal Waterway abounds in family activities, Holden Beach is a great family beach waiting for discovery, and the area is chock full of parks, museums, shopping, and outdoor activities for every member of the family. Visit just once and you'll be drawn back again and again. There are still great opportunities to buy vacation property in the area, so the entire family can retreat, regroup, and relax any time you choose.
Nearby Wilmington and the Cape Fear coast offer even more recreational opportunities. Enjoy a round of golf? You're in luck. With nearly 50 public courses in the area, Wilmington's courses are rated the eighth best metro golfing area in the nation because these area courses offer value, accessibility, and quality all rolled into one. Even if you're not a golfer, you'll find an overabundance of outdoor and indoor activities in the area. Tour historic districts, museums, and a Civil War battlefield if you're a history buff. Shop 'til you drop at the many stores, boutiques, galleries, and craft shops in the area. Take in a show, cruise the river, rent a kayak, bike, hike, or just kick back and relax. You can do it all on the North Carolina Coast!
Now, picture yourself retiring to this glorious area in North Carolina. The golf, the sun, the beaches, and the cities beckon. You'll never run out of activities here, and it's becoming a favorite spot for baby boomers looking for the perfect retirement location. You'll be close to all the services you desire, but still have room to breathe in the salt air. What could be better? In addition, Brunswick County has the highest price appreciation in the Carolinas, so your investment today will reap even more rewards in the years to come.
Why invest in real estate in coastal North Carolina? First, it's an investment that will last a lifetime. Whether you choose to retire to the Carolina Coast or use your home as a second vacation destination, your investment will grow with time. Real estate prices have increased all over the country, but they are still reasonable in this area. In addition, the second home marketplace is actually even healthier than the primary home marketplace. People are investing in second homes; it's as simple as that. In addition, the Carolina Coast is a baby boomers paradise, which is why more people are choosing this area to celebrate their golden years. If you buy now, your second home could turn into your retirement paradise in a few years. Top that off with one of the top five second home markets in the nation and you've found the perfect location to enjoy for years to come, and you can be assured your investment will only grow with time.
So, what are you waiting for? Check out the Carolina Coast! You may find your dream vacation home just waiting for you, and you're certain to enjoy the activities, surroundings, and adventures that await every time you return.
Saturday, August 16, 2008
Good News for Investors in the Carolina's
"The Carolinas are faring better than the rest of the country in terms of price appreciation" - "Lifestyle factors & strong demographics remain positive for the vacation home market." "Sales (are) returning to pre-boom activity" - according to Lawrence Yun, Chief Economist for NAR (National Assn. of Realtors) reported April 21, 2008.
The average home sale prices in NC INCREASED by 4% in 2007! - NAR
Not only have homes become more affordable with prices correcting themselves, but with historic low interest rates, buying a home in Brunswick County is now more affordable than ever.
A recent article in the Charlotte Observer reports “NC passed NJ to become the nation’s 10th most populated state.” The article continued, “That’s a more than decade-long trend of the Northeast being a net exporter of population to the South.” The population growth is attributed in large part to retirees. In the 1990s many people who moved to Florida initially moved half way back to the Carolinas. Now more and more retirees are coming straight to Carolinas and bypassing Florida altogether, according to the report. For investors that’s great news. Although you may have heard of recent “market corrections” in housing, the coastal Carolina’s continue to be a very attractive investment opportunity. As the trend continues and as more of the population reach retirement age, investments here have the greatest potential for lucrative returns.
When Warren Buffet ($62 Billion) said something to the effect of "When people are fearful be bold" he was referring to the stock market but the same holds true for real estate investments.
The average home sale prices in NC INCREASED by 4% in 2007! - NAR
Not only have homes become more affordable with prices correcting themselves, but with historic low interest rates, buying a home in Brunswick County is now more affordable than ever.
A recent article in the Charlotte Observer reports “NC passed NJ to become the nation’s 10th most populated state.” The article continued, “That’s a more than decade-long trend of the Northeast being a net exporter of population to the South.” The population growth is attributed in large part to retirees. In the 1990s many people who moved to Florida initially moved half way back to the Carolinas. Now more and more retirees are coming straight to Carolinas and bypassing Florida altogether, according to the report. For investors that’s great news. Although you may have heard of recent “market corrections” in housing, the coastal Carolina’s continue to be a very attractive investment opportunity. As the trend continues and as more of the population reach retirement age, investments here have the greatest potential for lucrative returns.
When Warren Buffet ($62 Billion) said something to the effect of "When people are fearful be bold" he was referring to the stock market but the same holds true for real estate investments.
Friday, August 15, 2008
Top Ten Reasons to Buy Now
The Top Ten Reasons It's a Great Time to Buy Real Estate!
From Broker Agent News
Dee Roe’s Note: Although the author is talking about a market in Arizona, virtually all of the points he makes are relevant to the New Hanover, Brunswick County Real Estate Market.
From Broker Agent News
Dee Roe’s Note: Although the author is talking about a market in Arizona, virtually all of the points he makes are relevant to the New Hanover, Brunswick County Real Estate Market.
- Selection, selection, selection. There are about 57,000 resale homes on the market in Maricopa county(Phoenix). Regardless of the price range a buyer desires, there are plenty of houses from which to choose. Just a few years ago the resale inventory dropped below 5,000 units. A buyer was forced to make compromises if they were going to locate the home of their dreams. There is a great selection of attached homes, condos, and townhouses. You can find large lots, small lots, and a lot that will accommodate your boat or RV. There are lots of options in this market.
- No Bidding Wars. In 2005 we had one client that made an offer on ten homes. They lost the first nine to the 'feeding frenzy' that existed. Other buyers bid the properties up substantially from the original listing price. There were escalation clauses where buyers authorized their agents to outbid other offers by thousands of dollars. There is no competitive bidding in this buyer's market.
- You can make an offer. A few years ago when you made an offer, the only question was how high above the list price could the buyer reach in hopes of being the best offer on the table. Today the sell price list vs. price ration is about 96%. A seller will not be insulted if you 'make them an offer they can't refuse'.
- Patience is tolerated. In the hot seller's market that existed everything was rushed. Find a house before other buyers did. Hurry up and make the offer. Today a buyer can take their time. Look at several homes and think about your decision for a few hours.
Due diligence is welcomed. In this market a buyer is encouraged to obtain a home inspection, termite inspection, and appraisal. In 2005 many buyers waived these contingencies in order gain an advantage with multiple offers.
There are plenty of specs. In the not too distant past buyer had to 'play games' if they wanted a new home. There were lotteries and waiting lists in order to obtain new construction. Some buyers slept in their cars in order to get to the head of the lines. Builders have thousands of specs ready for immediate occupancy.
Repair requests are welcomed. After a buyer completes a home inspection, they are allowed to submit a repair request to the seller. In the past a seller might insist the home was sold 'as is'. Many times, there were back-up buyers waiting for a primary buyer to upset the seller whose home was increasing in value almost daily.
Few, if any investors. It is estimated that one third of all sales in 2005 were to investors. These non-owner occupied buyer caused the market to inflate and affordability to decline. Mortgage fraud became commonplace. It's a great time to buy without having to compete with hundreds of prospective landlords.
Location, location, location. Today it’s, Price, Price, Price
Real Estate Financing is available. The 'wink, wink' zero down, no doc, adjustable, sub-prime loans are gone. Fixed rates are back. FHA financing, first time homeowner bond programs, special loans for teachers, and police officers are back in business. It's a great time to buy real estate!
Please feel free to call upon me for all your Real Estate, and relocation needs!
Yours truly,
Dee Roe
Exclusive Buyers Agent/Relocation Expert
New Homes Realty, NC
Office 910 363-4255
Cell 910 477-0691
dee.roe@newhomes.com
Subscribe to:
Posts (Atom)
