Wednesday, January 14, 2009

Shed Doom & Gloom in 2009!

This is a great article I found in the Charlotte Observer...

I drove past the local YMCA and noticed the jammed parking lot. Everyone has made New Year's resolutions, and chief among these is shedding those holiday pounds. There is much about 2008 I'd like to shed, most notably the gloom and doom.

“Now is the Winter of our discontent.” The line from Shakespeare's Richard III floats into my head. I can't stop it. I was an English major, and the voices of poets carefully studied stay with me.

Discontent was very big in 2008. As a financial adviser, I got the message. While we may have “reason to lament what man has made of man” (Wordsworth, “Lines Written in Early Spring”), beginning the New Year by predicting doom will only get us a self-fulfilling prophecy. Instead of wringing our hands over 2008, we should grasp the promise of 2009.

We each need a plan.

Begin with an inventory: We are still here, our bodies more or less intact, and for that we should be thankful. Most people reading this still have a roof over their heads and a Neighborhood Development Department motivated to keep more of us that way. And we have a whole new year ahead of us without any mistakes.

Most of us know how to do the right thing: Be kind to others, help those who need us, be good citizens. All we have to do is resolve to do it. Resolution is easier said than done. The cars in the Y parking lot are bound to dwindle as good intentions meet everyday apathy. Local charities understand this. Last year, when we reached an unprecedented level of need, many of us cut back on giving, and yet it is giving to others that may restore us all.

A recession means that the economy is receding, shrinking. By withdrawing, we perpetuate the problem, like drought prematurely shriveling a leaf to a dried, brown curl. The winter solstice will naturally follow the autumnal equinox, but a winter of our discontent requires human intervention both to create and to banish it.

So how do we banish it? With what Wordsworth called “that best portion … little, nameless … acts of kindness and of love.” I cherish such memories from 2008: the client who brought me a refreshing snack in a festive gift bag for no other reason than she thought with all the bad financial news and many people demanding my time, I might not get time for lunch. “The flood of rapture so divine” (Shelley, “To a Skylark”), experienced when entering a room full of clients and being hugged from four different directions all at once. They repaid my reassurance with their own support.

Just knowing that one is needed and appreciated can transform drudgery. Imagine how kindness from all quarters could boost a community.

So now, while the shadows of naked tree branches are so stark that they appear as if outlined in chalk, remember that tender new leaves will soon emerge.

Use the indoor time to good advantage. If you haven't done an inventory of family clothing, do it now. Pass along shoes, coats and clothes your children have outgrown; the Salvation Army or Goodwill Industries can put them to good use.

Plan a garden – flowers for cheer and vegetables for bounty. For as Shelley reminds us in “Ode to the West Wind”: “If Winter comes, can Spring be far behind?”

Tuesday, January 13, 2009

Good Sign

Capital Bank Gets Set for Housing Market to Revive

The Raleigh, N.C.-based Capital Bank is adding 15 mortgage officers — more than doubling its current staff — in anticipation of a resurgence in the housing market. The bank, which has 32 branches statewide, is also setting aside more than $20 million for mortgages for high-end homes. The loans will be available for homes costing more than $600,000 that were constructed by home builders and developers that are Capital Bank customers. CEO Grant Yarber said rates will be two percentage points below a standard 30-year super jumbo mortgage for borrowers who qualify. That program would help builders and developers who began building high-end speculative houses before the residential real estate market stumbled. "We believe, in 2009, there are going to be some great bargains on interest rates for home buyers," Yarber said. "We believe that 30-year rates will be in the 4.5% to 5% range for conventional mortgages. We believe that will spur a lot of people to purchase a new home." (www.newsobserver.com)
News & Observer (1/9/09); David Ranii

For information on Wilmington, NC Real Estate visit us at www.theacarolinasfinest.com

Sunday, January 11, 2009

Record number of travelers at ILM in 2008

Wilmington International Airport continues to grow, as they set an all-time passenger record last year serving more than 800,000 travelers.

The record breaks down to more than 1,000 additional passengers in and out of ILM per month. Wilmington International Airport has three carriers and offers non-stop service to five of its top ten destinations.

www.thecarolinasfinest.com

Thursday, January 8, 2009

Seller and Buyer Schedules

Realtors often talk about what it takes to sell your home, or more specifically what key factors that influence how quickly it will sell. We all hear about price, location, condition, and market influences but we often don't hear about the importance of letting buyers dictate when they see your home. It used to be that sellers dictated when showings occurred. A seller could easily change the times the buyer was requesting or just say "no, that time isn't good for me, please come at this time". From there, the buyer would scramble to change their schedule to get into the home and accomodate the sellers request.

Not anymore.

Most of us work 9-5 jobs and guess what...so do buyers. This means that they probably want to see your home in the evening or on the weekend. The same time you are planning on being home. The reality is that buyers are controlling the market now and if sellers don't accomodate their requests often the buyer moves on to something else that they can get into easily with their schedule because there is plenty of inventory to choose from.

So remember the need to accomodate buyers requests even if it seems like a hassle to you. You ultimate goal is to sell quickly and for the best price possible and this can only happen if you get each and every potential buyer through your home.

If you have any questions or comments, please feel free to email me at jessicariffle@seacoastrealty.com. Have a great Thursday!

Wednesday, January 7, 2009

Coldwell Banker Goes Mobile


PARSIPPANY, N.J. – Jan. 6, 2009 – Coldwell Banker Real Estate LLC announced today that international Coldwell Banker® real estate listings in 28 countries including Canada, Australia, Mexico, Italy, Aruba, and Colombia will now be accessible via a customized platform for iPhoneTM and BlackBerry® users.

When viewed on an iPhone, BlackBerry or other smartphone the Coldwell Banker flagship Web site, coldwellbanker.com has a different look and feel, along with navigation specifically tailored for optimal viewing the mobile device. This includes property listings search and home value estimator functions. When a user accesses the site through his or her handset, the Coldwell Banker Web site automatically recognizes that it is being accessed by a mobile device and will serve up that specialized interface. Users do not need to download any special software to benefit from this enhancement to the Coldwell Banker mobile technology.

“Now consumers in the home buying and selling process can easily search both domestically and internationally using their mobile devices,” said Michael Fischer, senior vice president of marketing for Coldwell Banker Real Estate LLC. “Coldwell Banker will continue to find ways to blaze a trail with technology that provides consumers with listings anytime, anywhere.”

Those looking for a home both domestically and internationally will be able to search for homes and utilize the brand’s home value estimator. In addition, consumers will be able to enter specific search criteria such as city, state, price as well as optional filters including number of bedrooms and bathrooms. When a property is selected, users can view all of the specifications for that home and contact an agent directly.

For photos visit: http://www.flickr.com/photos/30794625@N05/sets/72157612203017008/

Wednesday, December 17, 2008

Southport, NC gets an Idea House

Coastal Living has decided on Seawatch at Sunset Harbor for the magazine's 2009 idea house. The home will be built in parternship with Mark Saunders. Saunders is master builder and CEO of The Coastal Companies. Mark Saunders Luxury Homes will build a home encompassing traditional cape design that will overlook Mercer Mill Creek. According to a press release "Coastal Living constructs special Idea Houses in hand-selected communities that represent responsible consciousness to shoreline presesrvation and sensitivity to natural enviroments, as well as present the best coastal home design innovation, decor, and construction." The 2009 Coastal Living Idea House will be featured in the November 2009 edition of the magazine. For more information on Seawatch at Sunset Harbor, contact Jessica today!

Wednesday, December 10, 2008

Study Shows Housing Values Have Climbed

News reports have been packed with stories about declining home values, but a recent government report shows that the situation is not nearly so dire as some reports make it sound.

Despite big loses in some areas of the country, the majority of markets continue to show growth in home value over the last five years.

According to the third-quarter survey released by the Federal Housing Finance Agency, out of 292 metropolitan markets, 273 showed positive net home values in the last five years. Only 19 percent were negative.

While home values declined 4 percent on average in the last year, values were up nearly 29 percent over the past five years.

According to the Federal Housing Finance Agency, markets that gained the most over the last five years were:

Honolulu: up 78.7 percent
Virginia Beach: 72.6 percent
Flagstaff, Ariz.: 66.5 percent
Bellingham, Wash.: 65.6 percent
Wilmington, N.C.: 62.1 percent
Baltimore: 60.6 percent

Source: The Washington Post Writers Group, Kenneth R. Harney, (12/06/08)

Tuesday, December 9, 2008

Real Estate Reality Check

I had the pleasure of attending the Wilmington Business Journal's Power Breakfast titled "Real Estate Reality Check". The breakfast included a panel discussion made up of some of the top heads of the local real estate, builiding, and lending industry, including president of my company, Coldwell Banker Sea Coast Realty, Tim Milam.

The room was packed and the breakfast was sold out with a long wasting list. The panel discussion was a wealth of knowledge and I am happy to be able to share some of the information with you now.

The optimism was impressive and former Wilmington mayor Spence Broadhurst started the conversation by summing up the Wilmington region's economical reality. He stated that "...the recession was much slower to affect this region and this region will be much faster to snap back."

Michael Lopez, president of Alpha Mortgage, mentioned that when he got into the business 25 years ago "rates were at 16%". A number much higher than current rates.

Another important note is how important it is for the general public to be educated on the fact that the real estate market is local not national. The "national real estate market" is a lie that Americans have bought into and it has been fed by the media.

Craig Stevens, president of Stevens Fine Homes, noted that "There are jobs here and people want to move here." He also said that he "would rather be building homes in Wilmington, NC than anywhere else in the country."

Tim Milam added that it is projected by leading industry experts, experts that have correctly made these projections for the last several years, that the bottom of the real estate market is 2008 and that we will see a 2-3% gain over then next 10 years. If this does happen numbers in 10 years could look very similar to those of 2004 and 2005.

Stevens also mentioned that "It is important to remember that builders are tight right now and don't have anymore room to go down but a lot of room to go up. There is a lot of pressure on these builders and as soon as more people start buying those prices will probably be the first to go up.

Lopez also pointed out that although the rules have changed there is still a lot of money available for home buyers. Milam added to this stating that many people who have been waiting to buy here based on the need to sell another home in different market. These folks are biting the bullet and starting to sell those other homes and be able to purchase in Southeastern, NC. Also, are prices are still much better then the Notheast, so even if you sell your home in the Northeast for less than you were hoping you will be able to get so much more home at a better value here.

All in all, the entire panel sees a bright and positive real estate future in very near sight. These are the best of the best and it is obvious that they have weathered the storm and see clear skies ahead.

After all, like Warren Buffet says, it is times of extreme pessimism that you should buy and times of extreme optimism that you should sell...now I'm just wondering why it is easier for most to listen to the media than to one of the most wealthy entrepreneurs in the world...