Home Sales Up – Prices Down

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The good news is in the Real Estate market is that home sales are up but prices are down.
Home sales in Brunswick County during January 2010 were up 22 percent from January 2009, from $15.11 million to nearly $18.5 million!
Meanwhile the February number was up 57 percent from 2009, from $14.37 million to $22.5 million.

Things have definitely picked up for me,It certainly isn’t anywhere near back to normal – but we’ll take it!

The average sale price of a home is continuing to drop, according to latest statistics from the Brunswick County Association of Realtors. The average list price of a Brunswick County home in 2009 was $395,300, while the average sale price was $268,000.

Its a great opportunity for buyers and there are a lot of buyers coming to town.The key is knowing where the best deals are and getting in font of potential buyers. Luckily I have access to both though MLS and the traffic I get from extensive internet exposure.
The end of 2009 was a busy season for the company. January and February has been very active.

This first quarter of 2010 looks to be the best in a long time and this is the time of year when people traditionally start looking for second homes.

Values are down because of the economy, but everything is showing, I feel this is a great opportunity for buyers.

The southern end of Brunswick County does not have as many foreclosures as some people expected, but buyers are actively looking for those deals.
Most of my customers are people looking to relocate to Brunswick County, many of them are waiting for their houses in their home areas to sell before they can buy one here.

- Martha Pope, Accredited Buyers Representative of the National Association of Realtors.

Beach Renourishment Means Great Investment Opportunities!

More than 500,000 cubic yards of sand is coming to the Ocean Isle Beach strand during 2010.
The town is scheduled for another beach nourishment project, which should be the largest project of the year.

There are a number of oceanfront properties  in this area that are priced lower due to the decreased beach out in front. This project may be likely to add value to these “bargain priced” homes.

The sand will be placed as far east as Shallotte Boulevard and as far west as Concord Street.

“This will go the furthest west than any renourishment has gone since original construction in 2001,” Ocean Isle Mayor Debbie Smith said.
Ocean Isle Beach has contracted with the Corps of Engineers in a 50-year, $150 million contract for beach renourishment.
Smith said the beach renourishment project is coming at a good time for the east end of the island, which has had quite a bit of erosion recently.
“Right now most of it’s OK, but some of the eastern regions are getting narrower where they don’t offer the protection they need in case of a storm,” she said.
Smith is also hopeful about hearing a positive response from The Coastal Resources Commission (CRC) regarding the possibility of the town building a terminal groin at the east end of the island. The CRC has undertaken feasibility studies, which Smith hopes will help persuade the General Assembly the structures are necessary in the effort to fight beach erosion.
Currently these structures are not permitted by law.
Thee studies began earlier this year after a bill to make terminal groins legal stalled in the N.C. House. House Bill 709 was meant to “address erosion control issues,” and would give permission to the CRC to conduct a study of the feasibility and advisability of a terminal groin as an “erosion control device.”
Mayor Debbie Smith said that she hopes the House take positive action.

Just what is a “Buyer’s Agent” anyway?

Some of you may not completely understand what a buyer’s agent is, or you may have seen the letters “ABR” after the name of a real estate agent and wondered what they stood for.

ABR stands for Accredited Buyer Representative and it is a designation of excellence handed down by the National Association of Realtors.  When you see this after a Realtors’ name rest assured you are dealing with a certified buyer’s agent – one who can give you professional guidance from the initial contact all the way to the closing on your property.

As a Buyers Agent I do the following:

• Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
• Assist the buyer in determining the amount that they can afford (pre-qualify) and show properties in that price range and locale the consumer has determined.
• Assist in viewing properties and either accompany the client on the showings or preview the properties on behalf of the client to insure that the identified specifications are met.
• Research the selected properties to identify any problems or issues to help the consumer in making an informed decision prior to making an appropriate offer on the property.
• Advise the client on structuring an appropriate offer to purchase the selected property.
• Present the offer to the sellers agent and seller on the clients’ behalf.
• Negotiate on behalf of the buyer client to help obtain the identified property. Keep in mind that the buyer agent will be doing so with their clients best interests in mind.
• Recommendations and assistance in securing appropriate financing for the selected property.
• Provide a list of potential qualified vendors if these services are needed by the consumer

Beach Real Estate On The Rise!

Well, maybe it’s finally official.  Today almost all news networks are reporting that major economists are speaking of “green shoots” appearing in the financial markets and most particularly in the housing market.
Yes!  Any “on the fence” buyers need to cross over and take advantage of the low prices of beach and golf real estate as well as the incredible interest rates currently being offered.  You might have seen the television commercial lately showing people kicking themselves, one after the other, and the ad wraps up by saying you might kick yourself later on if you don’t take advantage of buying real estate in this market.

After a forecasted brief rain tonight the weather is looking gorgeous for this Easter weekend at Ocean Isle Beach and neighboring Holden and Sunset Beaches.  ‘Tis the season in more ways than one to come on down to the coast and check out the beauty and the bargains!