Real Estate Investing, Wilmington Triathlon, Breast Cancer Awareness

Low Rates, High Inventory: A Good Time for Investing?
According to the Reuters news service, "Mortgage applications for home refinancing loans rose for the first time in six weeks, with demand jumping to its highest level since late August as homeowners reacted to record low interest rates, data from an industry group showed on Wednesday."

Home mortgage rates (averaging 4.15%) are some of the lowest on record. Combine that with a large inventory of homes for sale plus a demand for rentals and you have all the ingredients for a great time to buy an investment property.

Purchasing an investment property sounds intimidating, and it’s certainly not for everyone. As with any investment, the best approach to investing in property is to do your homework. Get your finances in order, be clear on all the costs involved, and get pre-approval so that you will know what type of property you can fit into your budget. 

Also, Know Your Time Line. Short-term or long-term both have their advantages and disadvantages. If you think you're ready to take on the challenges and reap the benefits of investment properties, contact your financial adviser. Together you can run the numbers to see if this is the kind of investment that could help you reach your financial goals. 

Lastly, Develop A Good Relationship Your Real Estate Agent. That's me! I can find homes to fit your investment requirements faster with my extensive network of contacts than searching on the internet or the newspaper. Give me a call to discuss what you're looking for and where. I can even help you find an agent in other states!

2010 Wilmington YMCA Triathlon

Me and Nicole Ferguson Post-Race 2010

On Saturday, September 25 I did the Wilmington YMCA Sprint Triathlon again. There were over 1,300 participants in the largest single distance, one day event held anywhere between northern Virginia and Florida. I finished 189th and dang proud of it! I completed the race in 01:40:14 shaving 20 minutes off last years time! The weather was gorgeous and I had a blast doing it with so many of my friends and coworkers. The date for next years event is being decided so why not get your TRI on and start training?!

October is National Breast Cancer Awareness Month

National Breast Cancer Awareness Month educates women about the importance of early detection. More and more women are getting mammograms to detect breast cancer in its earliest stages. As a result, breast cancer deaths are on the decline. Encourage the women in your life to get mammograms on a regular basis. For more information, visit the National Breast Cancer Awareness Month website or the Susan G. Komen Foundation website. If you need to find a screening location near you, please visit here.

Market Stats, Gallery Open House and A Photo Contest

August Real Estate Stats
Single Family Home Sales Up in August After Slight Drop in July according to data from the Wilmington Regional Association of REALTORS^®.
 

2nd Friday Open House and Wine Tasting
Spectrum Art & Jewelry located in the Forum hosts an open house and wine tasting each month from 6PM to 8PM highlighting a unique theme or artist. Showcasing art and art-related events, 2nd Fridays also include trunk shows, artist demonstrations and food sampling.

The next Open House event will be on Oct. 8 Celebrating American Craft Week from October 1-10.

Spectrum Art represents over 100 select American Artists working in all media. They also offer Custom Jewelry Design, Fine Jewelry Repair and Art-on-Approval.

Contact 910-256-2323 for more information.

Quintessential Wilmington - Local Photo Contest
OK aspiring Ansel Adams' and Annie Leibovitz's get your camera's out! I'm hosting my first photo contest for the month of October. I'm looking to highlight local photographers, both amateur and pro, who'd enjoy having their photos splashed all over my website and blog. I'm looking for pics of area landmarks and life in Wilmington, NC done in a unique way. Not the same ol' same ol'! First place winners will receive a $25 Visa Gift Card. Send me your photo at wendy@seacoastrealty.com.

For all the rules and regs click here.

To receive notification when the winners are announced, and to find out about future contests, please subscribe to my free newsletter. You can either subscribe by email or by RSS feed over n the right-hand side.

Post-Foreclosure, Oyster-Less Roasts and a Culcalorus

After Foreclosure: How Soon Can You Buy?

With the rash of foreclosures across the country many people wonder exactly how a foreclosure will affect their home-buying power in the future. Chris Hutchens of Alpha Mortgage provides the following information on the waiting period most lenders follow. In all cases, borrowers must re-establish their credit, meaning they must meet minimum credit score requirements and eligibility requirements.

For buyers who’ve had a foreclosure the typical waiting period is 7 years. There is a three year exception, however, but borrowers must be able to show documentation for an extenuating circumstance, must have at least 10% for the down payment and the purchase must be for a primary residence.

Even if you didn’t go through a full foreclosure Fannie Mae has set requirements for the waiting period for Deed-In-Lieu of Foreclosure, Pre-Foreclosure and Short Sale to the same limits of:

•         2 Years – 80% Max LTV

•         4 Years – 90% Max LTV

•         7 Years – LTV Ratios Per Eligibility Matrix

And as with foreclosure, if you have a documented extenuating circumstance then you may be eligible to qualify for a two year waiting period if the Max LTV is 90%.

If you have experienced any one of these challenging financial events, please contact your mortgage lender to discuss exactly what your options are before trying to buy a home.

Area's Traditional Oyster Roast Almost Wasn't

Airlie's Annual Low Country Oyster Roast was almost an oyster-less roast due to the Gulf Coast oil spill this year.  Many people might have noticed the sign just outside of the park advertising an oyster-less roast this year. That was the brainchild of event organizers who wanted to see what the public reaction would be if oysters were no longer available—ever.

In a letter on the Airlie Garden website Parks and Garden director, Jim McDaniel explains how the Gulf Coast environmental crisis almost ended our local tradition but further explains that our area has been in a coastal crisis for years.

“Airlie Gardens always has been a great resource for providing guests excellent opportunities for hands-on, quality education. This year our Oyster Roast, or Oyster-less Roast as it were, will be no different. This is a chance to focus on our own environment, right here in New Hanover County.”

The Gulf Oil spill created a 'false economy' with Airlie’s normal supplier who began charging $2 per oyster. Fortunately, McDaniel was able to find a new supplier from the Chesapeake area so the roast is on with oysters as is tradition.

This year’s Oyster Roast is Friday, October 15^th. For $75 per person you get steamed oysters, fried fish, and more to fill your belly. You can work off some of the delicious grub dancing to "The Imitations". This event ALWAYS sells out so get your tickets as they go on sale September 1. If you need more information call (910) 798-7700 or visit the park website. All parking is on-site and all proceeds benefit the Environmental Education Program.

Film Festival November 11-14th

What’s up with that name? What’s a Cucalorus?

cuc•a•lor•us n.,
[orig. Gk. kukaloris, the dance of the shadows.]
1. a film set apparatus placed in front of a light source to create a dappled lighting effect on a subject or background. also cookie, UK. gobo.
2. a film festival in Wilmington, North Carolina.

The festival is mostly centered in our historic downtown area with Thalian Hall as the focus. Films are also being shown at City Stage Theatre, Jengo’s Playhouse and other venues around town. There will be screenings of over 110 independent and international films! If you’ve never been to the film fest don’t panic. There’s something for everyone. According to the event website, 

“Cucalorus screens a little bit of everything. Look for lots of shorts and docs scattered throughout the schedule. Each year, more than 100 films make it onto the lineup. There are roughly 50 narrative and documentary features and about 100 shorts. Short films range from super brief (30 seconds) to 39 minutes. Cucalorus attempts to represent the artform in all its diversity and contradiction.”

That’s a lot of variety and a ton of entertainment! Screenings and events sell out every year so get your tickets now. The schedule is expected to be posted in October. Check the website for additional details and to purchase tickets. 

Wednesdays with Wendy

Wilmington Area Home Sales Up!
According the stats from the Wilmington Regional Association of Realtors (WRAR), area home sales are up for the 10th straight month in a row!

Home sales rose to 507 last month, compared with 416 in June 2009 according to the WRAR. And the Days on Market (DOM) time has dropped from 139 to 119 days in the same period.

The only cloudy bit of news is that there's still room for improvement in the price of homes sold. The average price of homes sold is down 7% to $238,610 from $256,616 in June 2009.

Overall, all our numbers are showing a strong market rebound compared to other areas of the country.

Secretary of the Navy Honors Wilmington With Visit

According to a press release from U.S. Representative Mike McIntyre the Secretary of the Navy, Ray Mabus, has accepted his invitation to come to Wilmington to celebrate the 235th birthday of the U.S. Navy aboard the USS North Carolina battleship on October 12th.

McIntyre stated, “This is a great honor that Secretary Mabus would come join us in Wilmington, not only to celebrate the Navy’s birthday, but also to honor veterans and our servicemen and women of all branches of our armed forces. Southeastern North Carolina has a great tradition of honoring those who serve and those who have served our country, and the Secretary’s visit will emphasize that service.”

The ceremony on the battleship is being hosted by the Navy League, a veterans organization that includes those engaged in maritime service, such as the Navy, Coast Guard, Marines, and Merchant Marines.

“The Secretary’s visit will also be an integral part of the ongoing celebration in anticipation of the upcoming commission of the U.S.S. Gravely as the Navy’s newest destroyer, which will be held on November 20th,” continued McIntyre, a senior member of the House Armed Services Committee.

Homebuyer Tax Credit Closing Deadline Extended

Congress passed an extension of the closing deadline for the Homebuyer Tax Credit, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not yet closed. The legislation is designed to create a seamless extension; the new closing deadline for eligible transactions is now September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law. 

NAR worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the tax credit closing deadline will help provide additional stability to real estate markets across the nation. 

(Source: REALTOR® Action Center)

Featured Listing - 1152 Island Cove in Fairfield Park Reduced

This beautiful home has just been reduced to $145,000! This home is in a great neighborhood only 20 minutes from Carolina, Kure, and Wrightsville Beaches. It's in close proximity to Monkey Junction where Wal-Mart, Lowes Home Improvement and other national retailers are located. This quaint townhome sits in a cul-de-sac and offers an all brick exterior with a courtyard in front and a private wooded yard in the back with a lovely patio. This 2 bedroom, 2 full baths home features hardwood floors throughout and tiled bathroom and kitchen floors. The high ceilings and open floor plan give added depth, making this house quite spacious along with a large laundry room. Neighborhood amenities include: community pool, clubhouse, and tennis. Also includes exterior building maintenance, yard maintenance, master insurance policy, and trash removal. An AHS home warranty is included.

Wednesdays With Wendy June 9th

All our dreams can come true, if we have the courage to pursue them.

-Walt Disney


NHCSO out in full force on the waters for the holiday weekend

As summer quickly approaches, boats are ever increasing in numbers on the North Carolina coastal waters. A new law became effective May 1st that requires anyone in NC under the age of 26 to complete a boater safety education course before operating a boat in state waters. Officials say there are quite a few people who are unaware of the law or haven't taken the course yet. The North Carolina Wildlife Resource Commission provides an easy way to get temporarily certified. Click here to take an online course and get a temporary certificate that can be used for 60 days.

In addition to spreading the word about the new boating law, the sheriff's office has two boats patrolling the waterways trying to cut down on underage drinking and trashing of the islands. Officials want the public to be aware that Masonboro Island is a protected area and that anything that is brought onto the land needs to be taken off.

Masonboro Island is the largest undisturbed barrier island along the southern part of the North Carolina coast and is located approximately five miles southeast of Wilmington, in the most populous part of the North Carolina coast. The Masonboro site is bounded by the Atlantic Ocean to the east, the Atlantic Intracoastal Waterway to the west, Masonboro Inlet to the north,
and Carolina Beach Inlet to the south.

Primitive camping is allowed on the island. Campers should use areas that have obviously been camped previously. Camping on dunes and disturbance of vegetation are not allowed. Visitors need to pack out everything they packed in.

Thanks to the North Carolina Wilflife Resource Commission and the North Carolina Coastal Reserve for their facts and information.






Britt's Donuts Carolina Beach-

Doughnut worth drive? 'Oh my God, yes'

Traveling 129 miles from Raleigh to the beach to try an 80-cent doughnut is to put faith in those who have come before, to trust in their ability to judge grease and glaze. Because even with rhapsodic testimonials posted across the Internet, driving that far to eat Britt's Donuts is a gamble because there are no choices. If you prefer chocolate, and your buddy eats jelly-filled, that's fine, but you can't have either. Britt's sells only fried glazed doughnuts. There is a simple reason for this, insists owner Bobby Nivens. "When we get busy," he says of his airy, hand-cut delicacies, "we don't have time for other doughnuts." After the first one, you might not either.

Sold warm and served in a white paper sack, the doughnut has welcomed visitors to the Carolina Beach boardwalk since 1939. Nivens bought the business in 1974 from originator H.L. Britt. Nivens knew the tiny kitchen well, having worked there in the '50s while in high school. Today, at 71, Nivens very literally makes the doughnuts the same way he did as a teenager. The recipe has not changed. He uses the same rolling pin.

On Saturday, the small stand opened its dual garage doors to welcome regulars and first-timers alike. Maureen Bannon, who lives near Charlotte, stopped by with friends enjoying a girls weekend to try the famous doughnut she'd heard so much about. Was it worth it? "Oh my God, yes," she says. "You'll probably see us again in a few hours."

The doughnut has devoted fans, but Nivens isn't the sort of cook who shares his techniques with friends. Only he and his wife, Maxine, know the exact recipe. One of them has to mix the dough so the employees can make the doughnuts. Even their daughter isn't privy to the doughnut's innards, although she knows where the recipe is written down in case anything happens to the secret-keepers. Nivens dreamed years ago of expanding his deep-fried empire to include shops in other cities, but he eventually decided against the plan. Money, he says, isn't everything. Plus he and Maxine enjoy their time off, which is pretty much October through March.

The shop opens at 8:30 a.m. every day during the summer. It closes each night when business slows, and Nivens never shuts the garage doors if there are people in line.
"I don't want to get killed," he says, laughing. Thanks to Matt Ehlers at the Raleigh News Observer for this great story.

Now here is my featured listing!

114 Spring Creek
This private, extensively landscaped home is truly a great find! Offering 19 foot vaulted ceilings, a walk around fireplace, and maple hardwood floors. Lots of windows throughout and a sunroom provide excellent lighting. Open kitchen and dining room are perfect for entertaining. There are four inch maple wood floors in the living areas, along with carpeted bedrooms, and a tiled foyer. Also offering built in shelves between the dining and living room. The stairs leading to the master suite are made from tiger wood. The 891 square foot master suite is on the second floor and has grandeur of its own, with vaulted ceilings and a three sided fireplace; it also has a large master bath, large master closets, and a living area with balcony. Outdoors there is plenty of mature landscaping for privacy, as well as a large back deck with spiral staircase for entertaining and a side deck made out of cypress. Also has a fish pond, and sprinklers on well, and a 23'x14' workshop.