WILMINGTON, NC (July 19, 2012) – When analyzing six major zip codes in our region – 28403, 28405, 28409, 28411, 28412 and 28451 – an average of the zip codes for the second quarter of 2012 shows that:
- Our average sales price has increased by 5.4% from 1st Quarter 2012.
- Of the 895 sellers in 2nd Quarter – 32% paid some sort of concession toward the purchase of the house, up from 30% last quarter.
Confidence that home values will go up over the coming year has fallen to the lowest level ever recorded.
The latest Rasmussen Reports national telephone survey of homeowners shows that just 11% now believe the value of their home will go up over the next 12 months. That’s down from 16% last month. Prior to the latest survey, the number who expected their home values to rise during the next year ranged from 15% to 31%.
Overall confidence in housing values among homeowners has plummeted, with the number who say their home is worth more than what they owe on their mortgage lower than ever.
The latest Rasmussen Reports national telephone survey of adult homeowners shows that just 45% now say their home is worth more than what they currently owe on their mortgage. That’s down six points from May and is the lowest level measured in more than two years of regular tracking. Prior to the latest survey, this finding had ranged from a low of 49% to a high of 61% since late 2008.
Most Americans continue to believe now is not a good time for someone to sell their house. At the same time, confidence that buying a home is the best investment a family can make has fallen to a new low.
A new Rasmussen Reports national telephone survey finds that 47% of American adults say buying a home is the best investment a family can make, down five points from last month and the lowest level ever recorded. Prior to the current numbers, this finding had ranged from a low of 51% to a high of 73% since September 2008.
WILMINGTON, N.C. — Eight in 10 adults agree that buying a home is the best long-term investment a person can make. That is according to a recent nationwide Pew Research Center survey, demonstrating the value that Americans continue to place on homeownership.
To help potential home buyers realize their dream of owning a home, the Wilmington Regional Association of REALTORS® is participating in REALTOR® Nationwide Open House Weekend on Saturday and Sunday, June 4-5. During that weekend REALTORS® across the country will hold open houses from coast to coast, aiming to focus attention on the benefits of home ownership to families, communities and the economy.
OCEAN ISLE BEACH, N.C. — The developers of Waterway Cove, a boutique coastal community located in Ocean Isle Beach, NC, are proud to announce a huge milestone in their community. They are celebrating the opening of their large amenity site this month with a month long celebration.
by David Flory, Partners for Affordable Homeownership Committee Co-Chair, Wilmington Regional Association of REALTORS®
On Saturday, May 7th, the Wilmington Regional Association of REALTORS®, through their Partners for Affordable Homeownership Committee, is holding their first ever career day for kids called “I Wanna Bee”. This event will highlight several different careers in the Wilmington area. Potential participant careers include police, fire & rescue, teachers, farmers, nurses, military and more!
WILMINGTON, NC – On Friday, January 7, Karen Parkin of Wilmington’s Best Rentals was officially sworn in as the 2011 President for the Wilmington Regional Association of REALTORS® (WRAR) at the organization’s annual Installation and Awards Banquet.
With Parkin being originally from England, the banquet featured a British theme complete with authentic British cuisine, bagpipes, some attendees in traditional British attire and even a resounding rendition of “God Save the Queen” as the “new queen” and her fellow officers and directors were sworn into office.
MEMPHIS, TN — International Paper (NYSE: IP) recently announced that it has closed the sale of 163,000 acres under contract with Figure 8 Partners, LP, an affiliate of Rock Creek Capital (the “Partnership”). The total consideration of $199 million includes $160 million in cash and $39 million, plus interest, to be received no later than three years from closing. In addition, IP has received a 20% profits interest in the Partnership. The properties are located in the southeastern part of the United States.
MEMPHIS, TN — International Paper (NYSE: IP) announced today that it reached agreement to sell 163,000 acres of properties located in the southeastern United States for approximately $200 million in a transaction with an affiliate of Rock Creek Capital (the “Partnership”). A minimum of $160 million will be received at closing, with the balance, plus interest, to be received no later than three years from closing. In addition, IP will receive 20% of the Partnership’s net profits after it achieves certain financial returns.
LELAND, N.C. — Waterford of the Carolinas will host a Jazz, Blues & Wine Festival this Saturday, May 1. A large concert stage will be set up inside the Waterford community, and festivalgoers can bring lounge chairs or blankets and sit on the lawn while listening to a variety of jazz and blues musicians.
According to a press release the concert’s Facebook fan page drew over 700 fans in just over a week of its launch, and event inquiries have come in from across the eastern Carolinas – from Raleigh to the Outer Banks to Myrtle Beach.
WILMINGTON, N.C. — The Wilmington Regional Association of REALTORS® (WRAR) and many of its members will be hosting open houses on Saturday and Sunday, April 10-11 in a collaborative effort with other REALTORS® throughout the country.
This marks the first-ever REALTOR® Nationwide Open House weekend. REALTORS® from more than two dozen state associations and hundreds of local associations in the United States are participating.
WILMINGTON, NC — On Thursday, March 18, the Board of Directors of the Wilmington Regional Association of REALTORS® (WRAR) voted to hire Clancy & Theys Construction Company as the general contractor for the organization’s proposed new building on Sir Tyler Drive across from Mayfaire.
Clancy & Theys Construction Company is a respected NC headquartered construction firm that established its Wilmington division in 1984. The company specializes in building commercial, industrial, and institutional buildings. Two of their most recent projects include the new Topsail High School in Hampstead and the School of Nursing building at UNCW.
The streak of four straight weekly declines in mortgage rates was broken this week. According to Bankrate.com’s weekly national survey, the average conforming 30-year fixed mortgage rate rose to 5.15 percent. The average 30-year fixed mortgage has an average of 0.49 discount and origination points.
The average 15-year fixed mortgage nudged higher to 4.55 percent and the larger jumbo 30-year fixed rate settled at 6 percent. Adjustable rate mortgages were mixed, with the average 3-year ARM falling to 4.60 percent and the 5-year ARM nudging higher to 4.56 percent.
By Mary Martin, SRS
President, Wilmington Regional Association of REALTORS®
Wilmington, NC –
Mary Martin, SRS, President WRAR
With the New Year off to a promising start, our local residential market offers some exciting news and trends for both buyers and sellers in the Wilmington area for 2010. During the 4th quarter, our local market showed improvements in numbers of homes sold and seller’s asking price over 4th quarter 2008. These are strong indicators that the housing market is stabilizing and progressing towards a recovery.
In a move that could forecast sweeping changes to popular real estate websites, online property listings services are working hard to meet the demands of a more web savvy public. With more and more people become internet friendly the race is on for real estate professionals and investors to remain current on new trends in the market place. More common trends are begining to emerge from ongoing research. A few of the more noticeable are:
TopTenRealEstateDeals.com is looking for the ten most romantic homes in the United States to use in our upcoming Valentines Day Internet promotion “Top Ten Most Romantic Homes.”
The home must be currently for sale with features such as design, location, history, views or amenities that are truly love inspiring. If your house is now for sale and is romantic, this is a great way to get some free publicity for your home.
Many renters across the country are ringing in the New Year with a new apartment. According to a national survey conducted by Apartments.com–securing more than 1,500 renter responses–more than 95 percent of renters said they are planning a move in 2010. Striking while their 2010 moving resolutions are hot, many renters are also moving earlier this year, searching for better deals and nicer apartments in great neighborhoods.
WILMINGTON, NC – In Spring 2009, Titan America commissioned a study of property values for homes within a five-mile radius of its Roanoke Cement plant. The analysis, conducted by Samuel Long of Miller Long & Associates, concluded that the plant’s presence in the community has had no negative effect on property values. There are 1,660 households (2008) in the study area, which is up from 1,358 households in 2000. The median household income in the study area was $74,775 for 2008.
CHICAGO, IL – ForSaleByOwner.com, the nation’s leading “by owner” real estate website, today issued its Top 10 Predictions for the 2010 Real Estate Market. Among its predictions in this annual list are an increase in sales volume, a decrease in home prices, another increase in buyers using the Internet to search and successfully find their next home, and more home sellers using Internet-based resources to price, market and sell their home without the expense of paying commissions to a real estate broker.
Wilmington, NC – The Business Alliance for a Sound Economy (BASE) responded to State Farm’s announcement that it will be the next major provider to drop homeowner’s insurance for some eastern North Carolina residents. According to a statement released by State Farm, the insurance giant will be dropping coverage for homeowners on North Carolina’s barrier islands effective this spring. Roughly 1,600 customers can expect to receive a notice that their policy expiring after May 1 will no longer be renewed.
by John Hood
I guess it’s cold comfort to say this in a state with thousands of residents underwater on their mortgages, but by national standards North Carolina didn’t experience much of a housing bubble during the past decade. Our trends look nothing like those of states such as California and Arizona where the housing markets look a bit like smoking ruins.
Wilmington, NC – REALTOR® Helen Marotto, a real estate practitioner with EXIT Homeplace Realty, in Hampstead, N.C., is one of five winners chosen by the National Association of REALTORS® as a REALTOR® Magazine 2009 Good Neighbor Awards winner. Marotto was selected for her commitment as a court-appointed advocate helping find permanent homes for abused, neglected and abandoned children in foster care.
Main Street Biz Blog: From NC Magazine (published by the NC Chamber): Three new members will soon be inducted into the North Carolina Business Hall of Fame:
- John Allison, chairman of the board of directors at BB&T and now professor at Wake Forest University;
- James Maynard, founder of the Golden Corral restaurant chain; and
- Smedes York, real estate developer and former Raleigh mayor.
Click here for more info.
October 20, 2009 — Today at hearing on the State of the Nation’s Housing Market Senate Banking Committee Chairman Chris Dodd (D-CT) joined Senator Johnny Isakson (R-GA) in calling for an extension of the homebuyer tax credit.
“As part of the economic recovery package, we created an $8,000 first time home buyers’ tax credit, replacing an unsuccessful and overly complex loan program with one that is already having an impact,” Dodd explained. “The homebuyer tax credit has already been used by nearly 2 million first time homebuyers. In addition to helping middle class families achieve the dream of homeownership, the tax credit has helped to stabilize housing prices and the market at large.”
Wilmington, NC - The fall season offers some exciting news for both buyers and sellers in the Wilmington area. During the third quarter, our local market showed improved numbers over earlier this year and year-end 2008. This is a significant indicator that the housing market is stabilizing and beginning to recover.
Wilmington, NC – Susan Tollefsen, an interior designer from Raleigh, North Carolina, has been announced as the 2009 winner of the web-based reality competition ‘Nation’s Next Top Model Home.’ Tollefsen was awarded the title at the taping of the show’s finale party on location at the host community, Compass Pointe, on Saturday, October 3rd.
The 46 year old designer, a graduate of East Carolina University, used her broad experience, unique creative vision and strong network of supporters to secure the win.
Wilmington, NC – The Wilmington Regional Association of REALTORS® (WRAR) and the Multiple Listing Service (MLS) of Wilmington, NC recently passed the mandated Real Estate Transaction Standard (RETS) 1.7.2 version compliancy by using the National Association of REALTORS®’ (NAR) certification tool.
“Passing this certification tool validates our ability to provide near real-time IDX real estate data for our region,” says WRAR Chief Technology Officer Brian Bell. By staying ahead of current industry trends, the MLS of Wilmington has been able to provide both its members and the public with more accurate and timely information regarding the real estate market.
Wilmington, NC - The Wilmington Regional Association of REALTORS® (WRAR) proudly announces the election of REALTOR® Clinton Howlett of Century 21 Brock and Associates as a 2010 Director for the North Carolina Chapter of Certified Residential Specialists (CRS).
The results of this year’s election were announced at the CRS General Membership Meeting held on September 27th in Savannah, GA during the NCAR 2009 Convention & Expo.