Real Estate Information

An error commonly made by sellers when pricing their homes is that they fail to distinguish value from saleability.  The value of a home references the factors related to the property to cause it to be worth more or less than other properties.  Saleability references the factors related to the property that cause it to be more or less salable than the competition.

Some factors that create value are : Location, Location, Location.  If you're in a more desirable location, you'll get more money than a similar house in a less desirable location.  Examples of more desirable locations would be lake front, wooded or park view lots.  Less desirable would be homes that back up to the sewage treatment plant, a busy highway or the ugliest house on the block.

For more info:

http://activerain.com/blogsview/2610135/separating-value-from-saleability

A lot of facts and advice on buying a home are here for you! It has little chapters of information in order to have a better understanding on when the time is to buy. Below I have listed the table of contents as well as  the link so you can sort through whatever you would like to look at that fit's your situation right now. It has many useful charts on housing information as well.

Table of contents:
Housing: A time to buy
Foreword p. 2
Collapse and consequences p. 3
Measures of value p. 4
Supply, demand and inventories p. 7
Housing market attitudes p. 10
The implications of a housing rebound p. 12

For more info:

http://www.jpmorgan.com/cm/BlobServer/marketinsights_housing.pdf?blobcol=urldata&blobtable=MungoBlobs&blobkey=id&blobwhere=1158658412427&blobheader=application%2Fpdf

**Information by David R. Kelly and David Lebovtiz**

Now could be the best time in history to buy a home. Presuming, of course, you have the money and the credit to do so.

The average rate on a 30-year fixed mortgage hit record lows last week, down to 4.01%, according to Freddie Mac. The Federal Reserve's recent "Operation Twist," which was designed to do just this, appears to be doing the trick.

There are a lot of reasons to consider buying a home right now. The big savings on interest is just one of them — the difference between a 4% rate and a 5.5% rate on a $200,000 home loan is just shy of $200 in monthly payments and can save a homeowner more than $60,000 in interest payments across the life of the loan.

Another motivating factor could be the fact that rents remain sky-high in the U.S. right now, and in many markets it's actually cheaper to buy a home than rent a two-bedroom apartment.

And perhaps that's the biggest lesson of all: The best reason to buy a house is because it will become your home — not a path to profits.

**This info was taken from an article by Jeff Reeves in the Market Watch, on October 3rd, 2011

For more info please follow this link!

http://www.marketwatch.com/story/now-might-be-the-best-time-ever-to-buy-a-home-2011-10-03?siteid=nwhreal

The N.C. Department of Transportation is exploring an alternate alignment of the Hampstead Bypass that would allow drivers to continue south on what is now U.S. 17.

in response to concerns over the federally endangered red-cockaded woodpeckers, the DOT's current plan proposes an unusual traffic pattern that would force bypass drivers to back track to reach some homes and businesses on U.S. 17. If the bypass were built from those plans, folks who live north of the Topsail schools would have to drive past them on the bypass, exit on an interchange then backtrack north to get to school.

Hampstead  residents have roundly rejected the traffic movement and have asked the DOT to preserve southbound access. The DOT is exploring an alternative, confirmed Jay McInnis, a DOT engineer who works in the project development and environmental analysis unit in Raleigh.

on Wednesday, the Wilmington Urban Area Metropolitan Planning Organization will hold a public hearing on the current corridor maps for the bypass.

This info was taken from the Star News article written by Julian March, Novemeber 16th, 2011

The Azalea Fest is a fun weekend in the spring time located in downtown Wilmington, NC.

Local businesses and residents have long known that the North Carolina Azalea Festival has a big impact on the Wilmington area’s economy. Now, thanks to a study by faculty members at UNCW, they can put a dollar figure on it.

According to a report issued Monday evening, the event has a $50 million impact. Spending by festival attendees totaled more than $48 million. The festival organizers spent about $1.6 million, and the value of the more than 15,000 volunteer hours was estimated at $438,000.

Hall developed the model used to analyze the data collected; Meinhold led the analysis and extrapolation.
Included in the study results:

•    53 percent of those surveyed attended one event; 47 percent attended two or more events
•    97 percent of attendees lived in New Hanover, Brunswick and Pender counties; the other 7 percent were “overnight visitors”
•    Average local household spending was 47 percent; average overnight visitor spending was $625.
•    By far, the best-attended event was the street fair. The second most-attended event was the circus (for area residents) and the parade (for overnight visitors);
•    Local attendees spent most of their money on food and entertainment; overnight visitors’ money went mostly for accommodations and retail/souvenir purchases.

For more info follow this link!

http://www.wilmingtonbiz.com/industry_news_details.php?id=2938

Is that a scary thought ?  We're most like the 3 people we spend the most time with.   Who would be your three people?  Are they positive thinkers or gloomy doomsayers?  Are you motivated or drained when you're around them? 

Do they constantly talk about the state of the market or are they too busy working to give it a second thought?

Whose 3 are you in and what would they say about you?

Does someone you know operate their Real Estate business like this:

a)  Advertise themselves (usually with their facial photo where someone can sit on it)

b)  Bang a For Sale sign into the ground (on that special angle that makes others cringe)

c)  Create an ad for the paper (maybe run it if they had a deal close that week) 

d)  Download the listing onto the local MLS (no other sites of course, that would take too much time)

e)  Encourage their office to show it ("come on, I showed your mobile home last week")

f)  Figure an Open house couldn't hurt (haven't met Nosy Nora next door yet)

**This is the way that Real Estate has been practiced for the past 100 years (or so it seems)! And, it is still the way many Realtors operate today, however these traditional methods have proven to be less and less effective.

U.S. house prices have plunged by nearly a third since 2006, and homeownership rates are falling at the fastest pace since the Great Depression. The good news? Two key measures now suggest it's an excellent time to buy a house, either to live in for the long term or for investment income (but not for a quick flip).First, the nation's ratio of house prices to yearly rents is nearly restored to its prebubble average. Second, when mortgage rates are taken into consideration, houses are the most affordable they have been in decades. When prices are low, loans are cheap and plump investment yields are scarce, buyers should jump!!!

For more info please follow this link:

http://online.wsj.com/article/SB10001424052970204774604576629443313035736.html

Owning a home has ALWAYS been the American Dream.

Prices are low and rates are low. If you talk to your accountant and find out what the mortgage interest deduction and deduction for Real Estate taxes will do for you, you may find it is cheaper to own than to rent in many areas.

Please note that Real Estate is local and a good agent can show you the rent vs buy analysis .

For more info please go to: http://activerain.com/blogsview/2547092/-1-reason-why-it-is-better-to-own-your-home-rather-than-rent-one-

Information on some FUN EVENTS happening in WILMINGTON, NC!!!

Nov. 14th--> Lumina Academy Fundraiser, Inaugural fundraiser with a reverse raffle, at Indochine, Wilmington. This event is at 5:30 pm. For more info please contact: allison@luminaacademy.org

Nov. 15th--> Cape Fear Cotillion, at WB Learn Ballroom and popular dance, along with etiquette and social skills. Preregistration required. www.townofwrightsvillebeach.com

Nov. 16th-->Behind a Mask, discussion of Louisa May Alcott's writings, from 6-7 pm. Please register at www.library.uncw.edu or call 910-798-6323. This will be held at NHC Public Library, 201 Chestnut Street.

Nov. 17th-->The Diary of Anne Frank, Revamped accounts of Anne Franks' biography. Happening Nov. 17th-20th. www.bigdawgproductions.org or 910-367-5237 and at Cape Fear Playhouse.

Nov 18th--> NC Surf to Sound Challenge and Paddleboard Expo, Nov. 18th-20th. Register at www.surftosoundchallenge.com or 910-256-2545

Nov 19th-->Bargain Box of Wilmington Luncheon, Celia Rivenbark discusses her NY Times bestseller from 10:30 AM until 1 PM. www.bargainboxilm.org or 910-362-0603