Wilmington NC and Surrounding Beaches Expert Real Estate Blog

Victory Realty Workforce Shake Up!

noreply@blogger.com (Ralph "The House" Hunter) — Mon, 17 May 2010 11:48:00 +0000

Hello all,

I wanted to let everyone know about some very exciting changes around the Victory management office. We have replaced Karen with a new hire by the name of Danielle Whelan. Below is a quick introduction she put together. I have never been more excited about our potential as I am right now. As you know here at Victory we are heavily technology based, and I chose Danielle because of her exceptional experience and understanding in this area. She has already proven to possess a very strong understanding of all the programs and features we use in our office, even those she had no previous experience with. This was the quality I looked for most when searching for a new hire. However, she brings much more to the table. Her previous employment included cellular phone sales experience, and an impressive reference as a Durham property manager working with over 500 units! Danielle has more experience than myself in certain aspects of this industry. I know all will agree that she is excellent in dealing with people, and can confidently handle any situation that may arise. I realize that some may have had reservations about Karen’s ability to serve your needs, and that is understandable. From this point forward do not hesitate to contact Danielle for whatever you may need. I assure you that she will not fail to impress. As you know we much prefer email in our office as I can’t tell you how much more efficient it is when we can immediately refer back to the exact problem/instructions, while keeping our lines open for potential tenants and field issues. We have found that this cuts down on miscommunication tremendously.

Another major addition to our model is the implementation of a new property management program called TenantPro. This was perhaps the largest single investment we have made in the company, and we are excited about the efficiency it will bring. While we have always been great with the programs we use, this is the first system that is specifically built for property management. They are the #1 provider of this type of software, and it clears the way for us to expand to well over 500 units should we choose.

Our new office hours for current owners and tenants will run as follows. Keep in mind, we are still a small targeted business and there are times when we will both have to attend to field matters. Our hours are a guideline, but as always calling ahead to notify us that you are coming by is very helpful. While I will certainly be working very early mornings, late afternoons, and most weekends unlike ALL of our competitors, I do reserve this time for potential tenants and emergencies. Please reserve non critical issues for normal business hours.

Monday: 10-4

Tuesday: 10-4

Wednesday: 10-4

Thursday: 10-4

Friday: 10-4

Hello everyone,

As the newest member of Victory Real Estate, I would like to introduce myself! I am the new, friendly voice on the other end of the phone/emails! Please feel free to contact me with any questions or concerns at the office. I do have experience working in property management; however I am ready to take on the new challenge of learning Victory’s way of life with Ralph. With that being said, please bear with me while I am getting getting adjusted and I guarantee we will have everything running smoothly very soon! I am excited for the opportunity to get to know, and work with all of you. Sincerely, Danielle Whelan

Danielle Whelan, Office Manager

Rent@VictoryRealEstateInc.com

Office #: 910.805.0621

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been managing real estate in the Wilmington area for 9 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than just profit. Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

Spring 2010 Market Report and Company News

noreply@blogger.com (Ralph "The House" Hunter) — Thu, 15 Apr 2010 13:56:00 +0000

SORRY FOR THE DELAY IN GETTING THIS OUT. I’M SURE YOU HAVE ALL BEEN COMPLETELY LOST WITHOUT MY UPDATES. (JOKING). EITHER WAY, I HAVE A LOT TO SAY ABOUT WHAT HAS HAPPENED, AND WHAT I EXPECT TO HAPPEN WITH OUR ECONOMY BOTH LOCALLY, AND GLOBALLY. WHILE I USUALLY PREFER TO ALLOW MY ACTIONS TO SPEAK FOR ME RATHER THAN WORDS, I REALIZE THAT SOMETIMES YOU MUST DEMONSTRATE CREDIBILITY TO GAIN THE AUDIENCES ATTENTION. PLEASE TAKE A MINUTE TO SCAN THE QUOTES BELOW. I HAVE BEEN NEGATIVE ON OUR ECONOMY FOR A VERY LONG TIME. WHEN THINGS WERE BOOMING IT WAS RARE THAT SOMEONE AGREED WITH ME ON WHERE THINGS WERE HEADED, BUT I CONTINUED TO VOICE MY UNPOPULAR OPINION. THE QUOTES BELOW WERE PULLED FROM MY BLOG, AND ARE DATE STAMPED ACCORDING TO WHEN THEY WERE POSTED. FEEL FREE TO VERIFY THIS AT THE BLOG LINK BELOW. BELOW THIS SECTION, I WILL OUTLINE WHAT I EXPECT TO HAPPEN NEXT, AS WELL AS WHERE I HAVE BEEN WRONG ALONG THE WAY. I ALSO WANT TO POINT OUT THAT EARLY IN MY CAREER I TOOK AN ABNORMALLY STRONG STANCE ON THE ECONOMY, OF COURSE THIS PUT ME AT RISK OF APPEARING TO BE A TOTAL FOOL, SOMETHING FEW OTHER BROKERS WOULD EVER DO. HOWEVER, I AM A STRAIGHT SHOOTER, AND THIS ALONG WITH UNMATCHED WORK ETHIC, AND A FIRM UNDERSTANDING OF NEW TECHNOLOGY HAS SERVED ME WELL IN SPITE OF THIS HORRIFIC DOWNTURN.

HTTP://RALPHTHEHOUSE.BLOGSPOT.COM/ TO VERIFY…

TUESDAY, JANUARY 29, 2008

As long as a large part of the country is experiencing large numbers of loan defaults, I doubt the stock market is going to be a safe place to invest.

TUESDAY, JANUARY 22, 2008

I certainly wouldn't want my money in the stock market right now.

WEDNESDAY, APRIL 9, 2008

Commodities, precious metals, etc are demonstrating all the obvious signs of a bubble about to burst.

If you get serious about your price and sell now, you may avoid a massive long term catastrophe.

MONDAY, MAY 12, 2008

Second, the lease rate decline has yet to be felt much. As leases begin to renew, a lot of home owners will be surprised, and perhaps distressed to find out that there investment will be making them 10% less this year than last. I think we still have some time before we see the absolute bottom.

"The difference between death and taxes is death doesn't get worse every time Congress meets." --Will Rogers

THURSDAY, MAY 15, 2008

In a declining market, being a seller is like holding a stick of dynamite while the fuse is lit. Could it get worse? It very well could get a lot worse.

we are artificially tied up because people have to buy and sell their property elsewhere before making a purchase here. This is a stalemate like no one has ever witnessed in our lifetime, and it won’t clean up over night. A silver lining is that almost every recession in history is followed by a major BOOM! This is why you can’t let fear paralyze you on the sidelines.

( In this case, I believe the boom itself will be short lived, in fact I believe it is just about to end. 2.25.10)

MONDAY, MAY 19, 2008

I would say 90% of foreclosures are happening because sellers fail to account for the sluggishness we are feeling right now, until it is too late. If you are truly motivated, price it accordingly. This is almost definitely a recession, and sales could be down for 2 years easily. Plan for the future. If you set a lowest price, make sure it truly is your lowest price, because you may be holding on for a while.

WEDNESDAY, JUNE 18, 2008.

HTTP://RALPHTHEHOUSE.BLOGSPOT.COM/

I’LL BEGIN BY POINTING OUT A FEW THINGS I HAVE BEEN WRONG ABOUT. A YEAR AND A HALF AGO I EXPECTED THE “END OF THE WORLD” MENTALITY FROM LAST FALL TO PERSIST INTO THE SPRING OF NEXT YEAR (2010) WHERE I EXPECTED TO SEE A SOLID SHORT TERM RECOVERY (MAYBE 2 YEARS) BEGIN. MY TIMING WAS OFF AS MARCH OF THIS YEAR MARKED A PRETTY OBVIOUS TURN AROUND. IN MY OPINION, THIS IS GOING TO CREATE AN EVEN GREATER PROBLEM THAN WE WOULD HAVE HAD BECAUSE BUMPING ACROSS THE BOTTOM WOULD HAVE HELPED TO NATURALLY WORK OUT MUCH OF THE OVER INDULGENCE WE HAVE TAKEN PART IN OVER THE LAST DECADE. I BELIEVE WE HAVE SET OURSELVES UP FOR A MASSIVE CORRECTION SOMETIME WITHIN THE NEXT COUPLE OF YEARS. I BELIEVE THIS WILL BE AS BAD, OR WORSE THAN WHAT WAS EXPERIENCED AROUND THE SAME TIME LAST YEAR. THE TWO THINGS THAT MAY PROVE ME WRONG ABOUT A SUDDEN DECLINE IS UNPRECEDENTED GOVERNMENT INTERVENTION, AND EMERGING MARKET GROWTH. WHETHER SUDDEN, OR LONG AND DRAWN OUT, THIS TOO WILL EVENTUALLY COMPOUND THE PROBLEM AS PUMPING MASSIVE AMOUNTS OF WORTHLESS CASH INTO THE SYSTEM BRINGS IT’S OWN SET OF SERIOUS ISSUES. I REALLY DON’T BLAME BERNANKE, AS THE AMOUNT OF STRESS HE IS UNDER IS UNTHINKABLE AND WE ALL KNOW HOW HE WOULD HAVE BEEN VIEWED IF HE DIDN’T AT LEAST TRY. ONE GOOD POINT FOR REAL ESTATE OWNERS IS THAT THIS RUNUP HASN’T EFFECTED HOUSING NEARLY AS MUCH AS THE STOCK MARKET. I STILL FEEL THAT REAL ESTATE ACROSS THE GROWING AREAS IN AMERICA HAS LOST MOST OF IT’S VALUE. NOT TO SAY MORE WON’T BE LOST, BUT I DON’T EXPECT TO SEE ANOTHER HUGE LONG LASTING DIVE LIKE WE EXPERIENCED FOR THE LAST YEAR AND A HALF. I THINK WE WILL HAVE A MORE GRADUAL PROLONGED STILL PAINFUL BUMP ALONG THE BOTTOM. THIS MEANS WHILE I WOULDN’T RUSH INTO A HOME PURCHASE, I’M STILL RELATIVELY OPTOMISTIC ABOUT THE LONG TERM BENEFITS OF A REALLY SMART PURCHASE. THE TWO MAIN ENEMIES OF HOUSING NOW WILL BE INCREASING INTEREST RATES, AND NONEXISTENT CREDIT. WE HAVE ACTUALLY WORKED THROUGH A GOOD BIT OF THE INVENTORY IN MOST HEALTHY MARKETS. WHAT IS A HEALTHY MARKET? FOLLOW THE RELOCATIONS. MOST OF THE NORTHEAST WILL EXPERIENCE A REAL ESTATE DOWNTURN THAT WILL LAST MOST OF OUR LIFETIME IN MY OPINION. NOW THAT THE INDUSTRIAL AGE IS BECOMING A DISTANT MEMORY, PEOPLE ARE SCRAMBLING FOR MORE COMFORTABLE LIVING CONDITIONS. NC HAS CONSISTENTLY BEEN ONE OF THE FASTEST GROWING STATES IN THE UNION FOR SOME TIME NOW, AND GROWTH WILL EVENTUALLY TRUMP ALL PROBLEMS. MY NUMBER ONE PIECE OF ADVICE FOR INVESTMENT REAL ESTATE, CHEAPER IS BETTER. 2 $250K CONDOS WILL ALMOST ALWAYS OUTPERFORM A $500K CONDO, AND A MULT UNIT BUILDING FOR $500K WITH 5 UNITS WILL ALMOST ALWAYS OUTPEFORM THE 2, ALL OTHER THINGS BEING EQUAL. IF WE EXPERIENCE INFLATION ANYTIME SOON, THAT POSES A COUPLE OF INTERESTING POINTS FOR HOMEOWNERS. IF YOU HAVE A LOAN YOUR CASH WILL PAY DOWN YOUR BALANCE FASTER, BUT FOR NEW BUYERS AND CONSEQUENTLY EFFECTING SELLERS, CASH WILL BE WORTH LESS WHEN BUYING.

EVERYONE KNOWS HOW ANTIBIOTICS WORK. BASICALLY, YOU CAN START TREATING A PATIENT AND ALMOST ALWAYS SEE A QUICK RECOVERY BEGIN TO TAKE PLACE. ( POURING MASSIVE AMOUNTS OF MONEY INTO OUR BANKING SYSTEM AND ARTIFICIALLY LOWERING INTEREST RATES) HOWEVER, WHAT HAPPENS IF YOU DON’T COMPLETE THE TREATMENT. USUALLY THE ILLNESS COMES IMMEDIATELY BACK, AND SOMETIMES IT MUTATES INTO SOMETHING THAT IS RESISTANT TO TREATMENT. THE TREATMENT IS WORKING GREAT NOW, BUT IT’S MORE THAN OBVIOUS THAT GLOBAL GOVERNMENTS CANNOT SUSTAIN THEIR CURRENT SPENDING, SO THE NEXT QUESTION HAS TO BE WILL THE ILLNESS BE GONE BY THE TIME THE ANTIBIOTICS RUN OUT? LET’S ANALYZE WHAT IS HAPPENING FROM A DEMOGRAPHIC POINT OF VIEW. BABY BOOMERS, THE DRIVING FORCE OF THE WORLD FOR THE PAST 30 YEARS ARE REACHING THEIR PEAK WORK, AND SPENDING VIABILITY. THIS MEANS THAT IN THE NEAR FUTURE OUR COUNTRIES COMPANIES WILL BE LOSING THEIR BEST, AND MOST INNOVATIVE MINDS TO RETIREMENT. TECHNOLOGY IS HELPING TO RELIEVE THIS PROBLEM, BUT IT CANNOT KEEP UP WITH THE PRODUCTIVITY LOSS WE WILL BE EXPERIENCING SOON. ADDITONALLY, THOSE HOLDING THE MAJORITY OF WEALTH IN THE WORLD WILL BE LEAVING THE WORK FORCE, AND RELYING ON THEIR INVESTMENTS / CASH TO SUSTAIN THEM THROUGHOUT THEIR RETIREMENT. NOT GENUINE INCOME, BUT THE CONCEPT OF THE VALUE OF MONEY, AND THE STRENGTH OF THEIR INVESTMENTS. THERE IS NO WAY AROUND THIS, IF YOU AREN’T PRODUCING, YOUR WEALTH IS BASED SOLEY ON THE CONFIDENCE IN WHAT YOU HAVE ACCUMULATED. WE ARE TRULY IN A TRANSITION PERIOD WHERE OUR ENTIRE ECONOMY IS BUILT ON IDEAS AND CONFIDENCE, NOT PRODUCTIVITY. THIS MAKES FOR A VERY VOLATILE ENVIRONMENT AT THE VERY LEAST. FURTHERMORE WITH THE RATE AT WHICH INFORMATION IS EXCHANGED, AND NEW PRODUCTS SPRING FORTH EVERY DAY, I PREDICT BUBBLES WILL BE THE DOMINATING FORCE FOR THE NEXT DECADE. (MORE ON THAT LATER)WHAT OTHER EFFECTS WILL RETIREMENT HAVE ON PRODUCTION? PEOPLE ARE LIVING LONGER THESE DAYS, AND IF THEIR WEALTH IS BASED ON CONFIDENCE, THEN YOU CAN IMAGINE THERE WILL BE SOME CONCERN ABOUT THEIR FUTURES RIGHT? YOU HAD BETTER BELIEVE IT, EVEN THE WEALTHIEST ARE CONCERNED, AND SPENDING PATTERNS HAVE CHANGED FOREVER. WHILE NOT ALWAYS EXCERCISED, IT’S COMMON KNOWLEDGE THAT AS YOU GET OLDER YOU WANT TO REDUCE YOUR RISK OF LOSS, AND TAKE A MORE DEFENSIVE POSITION. WHO HONESTLY THINKS BABY BOOMERS HAVE ALREADY TAKEN THIS APPROACH TO THE DEGREE THAT IS NECESSARY? THE RECENT MASSIVE STOCK RUNUP IS IN MY OPINION PROOF THAT REALITY HAS YET TO SET IN. AGING BABY BOOMERS AREN’T DELEVERING AS GOOD ADVICE WOULD HAVE, RATHER THEY ARE JUMPING BACK IN FULL FORCE. ANOTHER ISSUE IS THAT PEOPLE FAIL TO REALIZE THAT EMERGING MARKETS ARE THE MAIN DRIVER BEHIND THE STOCK RUNUP. THESE SO CALLED AMERICAN COMPANIES ARE SO FAR FROM DOMESTIC, AND VERY FEW REALIZE IT. THEY PERCEIVE THE STOCK RECOVERY AS AN AMERICAN RECOVERY AND MANY WILL PAY A PAINFUL PRICE FOR THE MISCALCULATION.

I AM VERY CONCERNED WITH WHAT WILL HAPPEN WHEN THE ARTIFICIAL EFFECTS BEGIN TO DISSAPEAR. MAINLY, RISING INTEREST RATES AND UNBELIEVABLE OIL PRICES. AM I THE ONLY ONE THAT THINKS IT’S TERRIFYING THAT WE ARE STILL PAYING ALMOST $3 A GALLON DURING THE SHARPEST RECESSION SINCE THE 30’S? THE ENTIRE GLOBAL DEMAND HAS CONTRACTED CONSIDERABLY AND OIL BARELY FLINCHED. I FEEL STRONGLY THAT WHILE AMERICA SUFFERS, EMERGING MARKET STRENGTH WILL SOMETIME IN THE NEXT 5 YEARS FUEL ( PUN INTENDED) GAS PRICES TO RISE TO $8 A GALLON OR MORE, AND IT WILL BE TOO SWIFT TO ENACT AND EFFECTIVE PLAN B. INTEREST RATES WILL ALSO MOST LIKELY CLIMB VERY QUICKLY ONCE THE GOVT IS NO LONGER ABLE TO PUMP MONEY INTO THE SYSTEM TO KEEP THEM DOWN. THIS WILL OCCUR TO VARYING DEGREES WHETHER WE ARE EXPERIENCING MASSIVE INFLATION, OR DEFLATION. THERE ARE A LARGE NUMBER OF HOMEOWNERS / DEVELOPERS HOLDING OUT FOR A BETTER MARKET TO SELL, MANY CALL THIS SHADOW INVENTORY. WHILE HOUSING SEEMS TO BE MODERATING, A SUBSTANTIAL RUNUP IN INTEREST RATES WILL HAVE A DEVASTATING EFFECT ON ANY RECOVERY. THIS WILL CERTAINLY BE VERY LONG TERM, AND MUCH OF THE SHADOW INVENTORY WILL BE FORCED INTO THE DISTRESSED MARKET. OF THE PROPERTIES I MANAGE, AT LEAST 75% OF MY CLIENTS WOULD SELL TODAY IF THEY COULD BREAK EVEN. NOT TO SAY MAKING A HOUSING PURCHASE SHOULD BE OUT OF THE PICTURE, IF YOU HAVE A LOT OF CASH, A VERY SMART LONG TERM HOUSING INVESTMENT WILL STILL WORK WELL IN THE RIGHT MARKET. IF YOU DON’T HAVE A LOT OF CASH, I WOULD WAIT AND SEE. LAST YEAR I SPECIFICALLY NAMED SEPTEMBER AS THE TIME WHEN I EXPECTED TO SEE THINGS TURN VERY BAD. I WAS OFF BY ONE MONTH. WHILE GOVT INTERVENTION MAKES IT NEARLY IMPOSSIBLE TO TIME, I EXPECT THE NEXT FEW YEARS TO MARK A DIRE TIME IN AMERICAN HISTORY. IN MY OPINION THE BENEFITS OF A HUGE RUNUP ARE FAR OUTWEIGHED BY THE POTENTIAL BOMB THAT COULD DROP. I THINK WE WILL HAVE A ROUGH TIME FOR THE NEXT YEAR, BUT GOV’T SPENDING IS JUST NOW BEGINNING TO TAKE EFFECT, SO WE MAY REMAIN RELATIVELY STABLE UNTIL THEY BEGIN THEIR EXIT STRATEGY. ON THE ECONOMY AS A WHOLE, I’M DEFENSIVE TO SAY THE LEAST, PERHAPS MORESO THAN THIS TIME LAST YEAR. I’VE SAID IT AT LEAST 1000 TIMES, IF YOU THINK YOU MAY NEED TO SELL ANY ASSETS TO MAKE STANDARD LIVING PAYMENTS IN THE NEXT COUPLE OF YEARS, GET SERIOUS NOW!!!

NOW FOR THE GOOD NEWS PERTAINING TO REAL ESTATE. ( THERE IS LITTLE GOOD NEWS FOR STOCKS EXCEPT “MAYBE” EMERGING MARKETS SUCHAS CHINA AND INDIA. I ONCE THOUGHT THESE MARKETS WERE TOO DEPENDENT ON AMERICA TO RECOVER WITHOUT US, BUT THEY SEE WHAT AMERICAN BUSINESS HAS IN STORE AND HAVE TAKEN UNPRECENDENTED AND EFFECTIVE STEPS TO DECOUPLE.) AMERICAS POPULATION IS GROWING RAPIDLY. BY THE WAY, IT’S INTERESTING THAT THE ENTIRE IMMIGRATION DEBATE HAS COMPLETELY DISAPPEARED NOW THAT WE ARE IN RECESSION. (GREED TRUMPS EVERYTHING HUH?) THIS PREMISE IS AS BASIC AS IT GETS, DEMAND OVER THE LONG TERM IS UNDENIABLE SO SUPPLY WILL EVENTUALLY BE SOAKED UP. EVEN THOUGH BABY BOOMERS ARE PEAKING IN ECONOMIC PRODUCTIVITY, THEY WILL STILL NEED HOUSING FOR QUITE SOME TIME. THE FUTURE FOR SMART REAL ESTATE BUYERS IS QUITE BRIGHT, IT’S THE SELLERS WHO WILL SUFFER FOR QUITE SOME TIME.

IF YOU HAVE FAILED TO REALIZE THAT THE WORLD AS WE KNOW IT IS IN THE EARLY STAGES OF A COMPLETE PARDIGM SHIFT, LET THIS BE YOUR NOTICE. JUST AS IMPORTANT AS THE INDUSTRIAL REVOLUTION, WE ARE IN AN INFORMATION/TECHNOLOGY REVOLUTION. THINGS ARE CHANGING FASTER NOW THAN EVER, BUT THIS IS JUST THE BEGINNING. SOON CHANGES WILL OCCUR EXPONENTIALLY. WHEN I PICTURE THE WORLD IN 30 YEARS IT LOOKS MORE LIKE THE JETSONS THAN TODAY (ONLY SLIGHTLY EXAGGERATED). BABY BOOMERS BLAZED NEW TRAILS IN TECHNOLOGY, BUT WHEN THE MILLENNIALS TAKE THE STAGE PREPARE TO BE BLOWN AWAY. SOMETHING THAT CAN’T BE IGNORED IS THE EFFECT SUCH RAPID CHANGE AND FREEDOM OF INFORMATION WILL HAVE ON OUR ENTIRE GLOBE. BUBBLES WILL BECOME A WAY OF LIFE FOR SOMETIME. TAKE FOR INSTANCE DOUBLE LEVERAGED ETF’S. IF YOU AREN’T FAMILIAR WITH THEM TAKE A QUICK LOOK INTO THE POWER THIS ONE NEW STOCK PURCHASE OFFERS TO EVEN THE MOST AMATEUR OF INVESTORS. MY BIGGEST CONCERN FOR MY LATER LIFE IS THE REGULATION THAT WILL HAVE TO BE ENACTED TO OFFSET THIS BUBBLE PHENOMENA.

NORTH CAROLINA IN PARTICULAR IS IN A GREAT POSITION TO TAKE ADVANTAGE OF A RECOVERY ONCE IT BEGINS. AS ONE OF THE FASTEST GROWING STATES, ONCE AGAIN, THE DEMAND IS HERE. IN FACT, WE ARE BEING HELD DOWN BY A GLOBAL CATASTROPHY, SO WE WILL BE POISED FOR A STRONGER RECOVERY THAN MOST. NC HAS A LOT TO OFFER WITH BEAUTIFUL BEACHES, AND GORGEOUS MOUNTAINS JUST 6 HOURS APART! FOR YEARS NC HAS BEEN NAMED BY SEVERAL SOURCES INCLUDING FORBES AS ONE OF THE TOP STATES IN AMERICA FOR BUSINESS. LATELY WE HAVE SUFFERED DUE TO CHARLOTTES EXPOSURE TO THE FINACIAL MARKET, BUT BANKING IS ONE INDUSTRY THAT WILL NEVER GO AWAY. MOST OF THE MOST POWERFUL COMPANIES IN HISTORY WERE BANKS, AND ENERGY. THINGS MAY CHANGE DRASTICALLY FOR ENERGY, BUT BANKING WILL REMAIN BASICALLY THE SAME. WHILE OVERALL I AM VERY BEARISH ON THE ECONOMY, THERE ARE CERTAINLY SOME GREAT DEALS OUT THERE NOW. A YEAR AGO I WOULDN’T HAVE BOUGHT ANY REAL ESTATE IN AMERICA. NOW, I CERTAINLY SEE THINGS THAT PEAK MY INTEREST. HOWEVER, THEY ARE FEW AND FAR BETWEEN, AND THE GAINS WILL NOT BE WHAT PEOPLE HAVE GOTTEN USED TO IN THE LAST DECADE. FROM A LONG TERM POINT OF VIEW IT WOULD BE VERY HARD TO GO WRONG WITH A REAL ESTATE PURCHASE IN THE CURRENT CLIMATE AS LONG AS YOU DO YOUR HOMEWORK, AND USE GREAT CAUTION WHEN FIGURING POTENTIAL APPRECIATION, TAXES, INSURANCE, AND RENTAL INCOME. I CAN’T STRESS THAT ENOUGH, CHOOSE REALISTIC NUMBERS, THEN REDUCE / INCREASE THEM BY 15%.

ONE THING I WANT TO MENTION IS, DON’T EVER FORGET WHAT MAKES REAL ESTATE GREAT. ITS NOT THE POTENTIAL TO GET RICH, IT’S THE FACT THAT IF YOU CAN AVOID GETTING DRUNK WITH GREED, IT’S RELATIVELY SAFE. REAL ESTATE OFFERS MAJOR TAX ADVANTAGES OVER MOST OTHER INVESTMENTS AS WELL. ALSO, YOU CAN OFTEN USE IT FOR PLEASURE, YOU CAN TOUCH IT, FEEL IT, AND PERSONALLY OVERSEE IT. WITH STOCKS AND OTHER INVESTMENT VEHICLES YOU REALLY HAVE NO CONTROL OVER WHAT HAPPENS WITH YOUR MONEY. TO TAKE IT ONE STEP FURTHER, YOU HAVE NO IDEA IT IS BEING PUT TO GOOD USE. WHEN I WAS 18 I TOOK A STOCK TIP FROM A FRIEND. IT WAS A CUTTING EDGE INGENIUS IDEA CENTERED COMPLETELY AROUND HIGH SPEED INTERNET CONNECTIVITY. OBVIOUSLY THIS WAS, AND STILL IS AN IMPORTANT FUNCTION IN THIS TECHNOLOGY AGE. IN FACT, WITH THIS IDEA IT SEEMED IMPOSSIBLE TO GO WRONG CONSIDERING THE GROWTH RATE IN THE INDUSTRY. HOWEVER FOR A YEAR THE STOCK HOVERED RIGHT AROUND $5 AND RARELY CHANGED EVEN AS THEY LANDED HUGE MILITARY CONTRACTS WHICH EVERYONE KNOWS PAY PRETTY WELL. THE BOARD WAS A WHO’S WHO OF WEALTHY, SUCCESFUL BUSINESS GENUIUSES. THEY WERE HIGHLY RESPECTED, AND MOST EXPECTED HUGE THINGS FROM THEM. THE COMPANY HAD SEVERAL LOCAL TIES TO WILMINGTON, AND ONE DAY I FOUND OUT THAT THEY FLEW THE COMPANY JET TO TOWN, DROPPED OVER $1000 OF COMPANY MONEY ON DINNER FOR A FEW BOARD MEMBERS, THEN FLEW BACK TO THE CORPORATE OFFICE. THEY DIDN’T MEET WITH ANYONE HERE, NOR WAS BUSINESS EVER DISCUSSED. MY FRIEND THAT GAVE ME THE STOCK TIP WORKED AT THE RESTAURANT IN CASE YOU ARE WONDERING WHAT I BASE THIS ON. THE NEXT DAY I SOLD THE STOCK FOR $4.50 AND BOUGHT A HOUSE WHICH I SOLD BEFORE AUGUST OF LAST YEAR JUST AS I HAD BEEN ADVISING MY CLIENTS. JUST OUT OF CURIOUSITY I TOOK ANOTHER LOOK AT THEIR STOCK TODAY, AND IT WAS A SWEET REVELATION, .26 CENTS A SHARE. I HAVE BEEN DEEPLY DISGUSTED WITH CORPORATE AMERICA FOR ALMOST A DECADE, LONG BEFORE THIS RECENT POPULIST OUTCRY. I NEVER GET INVOLVED IN POLITICS, I CONSIDER IT A PHILOSOPHICAL DEBATE MORE ALONG THE LINES OF ABSTRACT IDEAS THAN CONCRETE SOLUTIONS, I REACT RATHER THAN WHINE. HOWEVER, DEMOCRAT OR REPUBLICAN, I CHALLENGE YOU TO QUESTION MY REASONING ON CORPORATE WASTE. TAKE GE FOR INSTANCE, THIS IS A COMPANY I HAVE A TON OF RESPECT FOR. ESPECIALLY THEIR FORMER CEO JACK WELCH (HIS BOOK “WINNING” IS AMAZING). HOWEVER, WHEN I THINK ABOUT THE NUMBER OF PEOPLE IN AN ORGANIZATION OF THAT SIZE THAT HAVE THE OPPORTUNITY TO BLOW MONEY, OFFER FAVORS, AND GENERALY ACT DISHONESTLY, IT’S TERRIFYING.

FINALLY, I WATCH CNBC A LOT, AND THE AMOUNT OF INTELLIGENT PEOPLE THAT GET CAUGHT UP IN THEIR OWN PROPOGANDA IS ASTONISHING. IN MY OPINION THOUGH, THREE MEN OFFER THE GREATEST WISDOM I HAVE EVER HEARD. WARREN BUFFET, AND THE TWO TOP MEN AT PIMCO, BILL GROSS, AND MOHAMED A EL-ERIAN. FOLLOW THEIR ADVICE AND IT’S HARD TO GO WRONG. KEEP ONE THING IN MIND WITH WARREN BUFFET THOUGH, HE REALLY IS IN A LEAGUE OF HIS OWN SO HIS ADVICE MUST BE TEMPERED BY HIS LARGER THAN LIFE INFLUENCE.

BY THE WAY, THE SUMMER OLYMPICS LEFT ME UNEASY ABOUT AMERICAS PASSION, DRIVE, AND HEART. I HAVE ALWAYS FELT THAT WHILE AMERICANS ARE USUALLY NOT THE SMARTEST, OR MOST DISCIPLINED PEOPLE ON THE GLOBE, WE POSSES A STRENGTH OF CHARACTER AND HEART THAT NO ONE ELSE COULD COMPARE TO. I WOULD LIKE TO EXPRESS MY ADMIRATION FOR THE WINTER OLYMPIC TEAM, AND SAY THANKS FOR BRINGING BACK MY CONFIDENCE IN AMERICA. GO USA!!

Victory Real Estate is an experienced Wilmington NC area brokerage. We offer unobjective advice on all aspects of real estate brokerage, including property management, investment real estate, and sales. Unlike other firms, we are a neighborhood brand, here to serve clients who would like a lifetime, personal real estate advisor. In business over five years, the Victory Team has built a solid reputation for unmatched customer service, innovative business thinking, and solid growth. We set ourselves apart from other brokers with the flexibility to remain #1 in service and technology in these fast paced times...

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

noreply@blogger.com (Ralph "The House" Hunter) — Thu, 21 Aug 2008 18:47:00 +0000

Wilmington North Carolina and Surrounding Beaches Real Estate Newsletter…

Yes it's true, the national housing crisis is having an effect on the Wilmington area, but when compared to national data, Wilmington is one of the best fairing cities in America , and I can prove it. In the past I cited a few sources to back up what I said, in this update, I have compiled tons of research and articles that explicitly explain why the fundamentals of the Wilmington NC economy have us poised for a massive boom after our global economy stabilizes. As of right now, the average home price in Wilmington is slipping, but given our global economy, it's surprisingly strong. For the entire MLS area, mostly New Hanover County , the average sales price is only down about 6% from the highs. Almost all of that occurred in the last 5 months.
For my buyers: I speak to many buyers, and they are literally upset about home prices in Wilmington . While I have to admit sellers have been slow to come around, don't expect to hear stories of massive foreclosures such as in Florida , and California . Wilmington has far too many amazing attributes to slow down too much. That doesn't mean that it's not a good investment.
Sometimes you have to pay a little more to be the best. I can cite 100 different articles forecasting huge growth for Wilmington and NC, so be careful about sitting the sidelines for too long. When it breaks loose, it is going to boom! I have said it before, and I can't emphasize it enough. While prices may come down in the next year or two, a great deal that fits your needs typically only comes around a couple times a year. It will be Spring of 2010 soon. ( This is when I forecast Wilmington pulling away from the rest of the country and making huge increases all around ) Even in light of a full on recession, I doubt you will see the average price drop much more than 15% in this area. Of course on Carolina and Kure Beaches homes are selling for almost 100% less than they did three years ago . This is the best place to find amazing deal s, as these owners are victims of a HUGE, classic real estate bubble. Wilmington is currently being effected by a global slowdown, and this will certainly benefit the buyer for at least another year, but don't expect to steal a cheap home in this area. Affordable housing is nonexistent in Wilmington , and cheap homes will barely depreciate. The million dollar homes will actually suffer the most , and therefore present the best opportunities.
For my sellers , don't make the mistake of thinking this problem will blow over quickly. If there is one thing I know about housing, it's that it's seldom a quick process. You may have noticed that I said prices could still fall 15% from their highs a year ago. Especially for higher priced homes, that is still a substantial figure. I have said it before, if you think you may have to sell anytime in the next 3 years, I would sell now. If you think you may have a problem making your payment at some point in the next 3 years, then you will want to sell now, and for a competitive price. Don't make the mistake of chasing the market down. I have attached a great article at the bottom about a couple of homeowners who held out for too long.
Reasons why Wilmington is poised for a huge recovery in the next few years.
Huge improvements to the Wilmington ports. With the weak dollar, and Asian growth, exports have increased substantially around America . Through recent upgrades, the Wilmington Port is reaping great rewards as a result. The Milken Institute's study of Best Performing Cities in America cited this as the #1 reason for ranking Wilmington at #2 in the nation in terms of growth and prosperity. See the attached report at the bottom.
Substantial cut backs in building permits and new homes (Supply) due to sewer moratoriums, and decreased demand. Building permits are down more than 20% on average compared to last year. See the attached report at the bottom.
North Carolina is ranked in the top 3 according to several studies of the Best Business Climates in America . Strong business growth from Asheville , to Charlotte , to Raleigh , on over to Wilmington are making North Carolina one of the hottest spots in the world. See the attached reports at the bottom.
Several cities in North Carolina have been named as the most desirable places in America to live. With a huge part of the Wilmington homeowner population living in other NC cities, this is great news.
General Electric and the increased spending on nuclear energy have already, and will continue to have a huge impact on our local economy. In the process of hiring 900 new employees, I have personally worked with GE relocation employees. Their growth will also substantially contribute to the local tax base.
Stock Tip: I don't normally do this, but PPDI is a stock to look into. In fact I never do this. While researching a proposed expansion, I came across several articles stating that they recently reported 22% higher than expected NET INCOME so far this year !!! Their stock, hasn't seemed to react yet. The expansion is a proposal to add another 400K sqft high rise to their world headquarters downtown. This will employ nearly 1000 more highly educated professionals, and doctors.
The Wilmington Convention Center is going to have a profound effect on this entire area in my opinion. Although it coincided with a national housing boom, the Marriott and Convention Center is what eventually made Carolina Beach a well know beach for 2 nd homes. Carolina Beach experienced price increases of nearly 300% on many properties. I spoke to hundreds of people who found out about Carolina Beach as a result of an event, or simply lodging at the new Marriott, and this is what drove prices so high. I expect the Wilmington Convention Center will also open this area up to hundreds of millions of people across the world as word of mouth spreads about our world class location… Carolina Beach will also be adding another major player to their skyline as well. Hilton is in the process of building a world class hotel in good ol Carolina Beach .
The convention center alone will employ over 1200 people, bring tens of thousands of additional vacationers a year to our area, and add 1.5 million dollars a year to our tax base. The real benefit will be the world wide exposure. In addition, the unbelievable Hotel Indig o that will service the convention center will be a major employer as well.
Last month in Wilmington , the average days on market was 28 days longer than last year. On average in 08 it's been about 15 days longer. While you can't judge from one month, it is still a downward acceleration. The Wilmington market is obviously softening, and it could continue for well over a year. However, Wilmington residents have proven their ability to ride out a storm.
Want to View a FULL Wilmington Area Market Report Complete with the Articles Mentioned Above? Click Here...

4 Tips for Investing in Foreclosures...

noreply@blogger.com (Ralph "The House" Hunter) — Sat, 05 Jul 2008 15:34:00 +0000

Thanks to the explosion of the real estate market a few years ago and the amount of people who are now defaulting on their home loans, the real estate Foreclosure market is booming. Lenders granted loans for people with border line credit on the assumption that if they did have to repossess the house it would be worth far more than the mortgage. The lender planned on selling the repossessed property quickly and at a profit. That didn’t happen.
Unlike a decade ago when a Foreclosure was almost certainly a broken down/condemned piece of real estate, now foreclosures are just as likely to be beautiful and well kept homes! This makes investing in foreclosed properties potentially lucrative.
If you’ve ever wondered if you should start investing in foreclosed properties, here are a few tips to help you get started:
1. Do your research on each and every property that you are thinking of investing in. If you can afford it, you should have each property professionally appraised before submitting an offer on the foreclosed property. Make sure that you aren’t going to be investing in something that is going to be more of a “fixer upper” than you originally thought.
2. It is better to buy a foreclosed property at public auction. This is because sometimes homeowners who are facing Foreclosure will take the money they make from selling it to you and, instead of using it to pay off their current home loan; they use it to purchase a new home. This means that, technically, the bank could still seize the house you just paid for and you have little chance of recouping your investment.
3. Investing in foreclosed property shouldn’t be looked at as a full time job, especially if you are just entering into the field. It is best to start investing in foreclosed properties while you still have a full time job or some sort of steady income to ensure that you are still able to pay your bills while you work on your foreclosed property and wait for it to “flip.”
4. Allocate only a portion of your investment portfolio to foreclosures. A balanced portfolio offsets swings in the market place. The house you buy at a Foreclosure auction may seem like a steal. But it will remain that way only if the market doesn’t go below what you’ve paid for the property. If your portfolio is balanced you give yourself the time for the market to start on a swing back up. You won’t be forced to sell at a loss just to recover the cash or get yourself out from a mortgage you can’t afford any longer.
Investing in foreclosed properties isn’t for the faint of heart, but it can prove to be quite a profitable business! Make sure that you do your research and learn every thing you can about the field before you get started! Don’t put all your resources in any one type of investment and that includes foreclosed properties. Give yourself time to make a profit. Don’t get yourself into a corner where you’re forced to sell in unfavorable conditions.
Interested in investing in Real Estate Dee Power is the author of several nonfiction books including The Making of a Bestseller, Attracting Capital from Angels, and Inside Secrets to Venture Capital. Dee’s hobbies include gardening
Article Source: http://EzineArticles.com/?expert=Dee_Power http://EzineArticles.com/?Investing-in-Foreclosed-Real-Estate-Properties—4-Tips&id=1282901

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

Top 10 States With Biggest Tax Revenue Shortfall

noreply@blogger.com (Ralph "The House" Hunter) — Tue, 01 Jul 2008 13:18:00 +0000

The days of money flowing in to state governments due to new construction, both residential and commercial, are coming to an end. The flow of impact fees, transfer fees, capital gains taxes, etc. have slowed the revenue stream for the state governments.
As we have talked about previously, state governments did not have any restraint during the big money years of the housing boom. Instead of socking some of the money away for a rainy day, they created new vote buying programs and built shrines to themselves.
Now that the housing slowdown is in full form, these same government officials are crying poverty. Now do not expect them to dismantle the edifices of waste and excess that they erected during the hey-day.
Nope, these moronic legislators will instead cut important services that help maintain property values like school funding. So instead of getting rid of the bus for senior citizens that takes them to the brand new senior center, they will threaten to get rid of the local high school football team knowing full well most in the community will take a tax hike before that happens.
What smart taxpayers should do is start petitions against their local politicians for squandering the extra money they brought in during the real estate boom. That would teach these politicians a lesson in budgeting and restraint.
Top 10 States With Biggest Tax Revenue Shortfall
Rank State Annual Tax Rev Change
Arizona -13.6%
Florida -10.3%
Rhode Island -6.2%
Nevada -4.9%
Georgia -3.8%
New Jersey -0.3%
California 0.1%
Washington 0.2%
Delaware 0.3%
Tennessee 0.6%
via Business Week and the Rockefeller Institute For Government

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

The importance of pricing when putting your home on the long term rental market…

noreply@blogger.com (Ralph "The House" Hunter) — Tue, 24 Jun 2008 13:36:00 +0000

The importance of pricing when putting your home on the long term rental market…

Making the decision to put your home on the long term rental market, often can be very stressful. However, a little knowledge in this industry can go a long way. So many people are out being landlords, without doing any market research, or even regarding the law. In my opinion, you have two options. Either employ a full time property manager who has built a sound policy for all aspects of rental management, or take several days to familiarize yourself with your competition, how the industry works, etc etc. If you simply run an ad, fill your home with the first person who calls, and expect things to go on with no problems, then you will almost certainly hit major roadblocks before learning the proper techniques. We have built proven policies and procedures for the following aspects, and many others. These have served us well with quality tenants.

Monthly rate is less important than amount of time your home sits vacant. For instance, if your home may rent for around $1000 a month, but instead you hold out for 1100. If as a result, your home sits vacant for just 1 month longer, you just reduced your monthly rate by $83. That almost completely wipes away your $100 a month increase, but in addition, it has other detrimental side effects. Most notably, you will not be able to be as choosy about your tenants when you are overpriced. I would rather rent the home for $1000, and have 15 tenants to choose from, than $1100 and have 3. I have also found that when a tenant fells they are paying too much, they often become very picky about very small issues with the home. This is if you are lucky enough to only have your home sit empty for 1 additional month. If it sits empty for 2 months, you just reduced your tenant pool, and lost money at the same time. I have had clients go 3-6 months before finally getting serious about their homes rental rate.
Choosing tenants can be a very dicey situation. Often, renters are doing so as a result of losing a home, or other credit issue. Does this mean that you shouldn’t rent to someone with poor credit? Absolutely not. If they can provide a previous landlord who will vouch that they paid on time, and took care of the place, that’s credit in itself right? One thing I do to make sure that I always have the absolute best tenant pool to choose from, is market to relocations. These tenants typically just sold a home up north and want a rental here before making a purchase. Most of these tenants have great credit, and plenty of cash.

In my next post, I will cover several other techniques for taking the stress out of rental management.

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

noreply@blogger.com (Ralph "The House" Hunter) — Tue, 24 Jun 2008 11:35:00 +0000

In light of an ailing housing market, I have been hearing about foreclosures on a daily basis. There is no
doubt foreclosures in the Wilmington area are up, but not on the scale of places like CA, or FL. While you can obviously find a good deal in this arena, would you consider it wise to make a foreclosure purchase with similar preparation to buying a normal home, or do you think that it requires large amounts of research?
Tue Jun 17 2008, 06:46 - Wilmington - Market Conditions - 3 answers

Michael Cepa… was FIRST TO ANSWER
BEST ANSWER
Ralph, In light of the recent decision by the FHA to lift the ban on insuring a mortgage on a property that has only been owned by the present owner for less then 90 days. This use to be very prohibitive of flipping a house since the idea is to get in get out and sell quickly thereby not having alot of carrying costs. Up until this week the FHA would not take any loans in order to prevent this practice of flipping homes. But, with the glut of foreclosures on the market they have decided to lift the ban for the time being so that people can buy these homes and get FHA financing. I have included a link below to the article from the HUD website.Tue Jun 17 2008, 14:44
Web Reference: http://www.hud.gov/news/release.cfm?CONTENT=pr08-082.cf...

Answered by Larry Story Real Estate Proin Greensboro

BEST ANSWER
The situation here in "my neck of the woods" (Surry County)is similar. The market is slow and foreclosures are up but not to the degree that some other markets are experiencing. My husband and I market REOs in our area so, in answer to your question, the buyer does need to do a little more homework on these properties because they are sold As Is, Where Is. For the most part, you will get a clear title to the property under a special or limited warranty deed. Since the foreclosure company will not fix anything and usually only gives a short time for inspections, the buyer should know what they are looking at or get someone who does in there fast once an offer is made. This is not an all inclusive list and each property is different but before the offer, I would call the city or county tax office and find out about any/ all liens and deed restrictions. Call the listing agent and get a copy of the addendums to review so there is no question as to procedures as each REO company is a little different. After an accepted offer, be ready to inspect all systems, foundation, etc. If the buyer has building experience or knows someone, that's fine, but the buyer is responsible for uncovering any defects and has no recourse if they are discovered later. While is sounds a little daunting, buying a foreclosure under market value can be a good purchase, you just have to do your homework. To Michael - we've had a lot of the same problems but on a smaller scale. But it's all relative; I remember just a few years ago whining about your hot market while ours just ambled along! Hang in there because I really do believe that we will see a recovery by next spring.Tue Jun 17 2008, 09:15
Web Reference: http://www.ncselectrealestate.com

Answered by Anne Peterson… Real Estate Proin the NC Footh...

BEST ANSWER
FIRST ANSWER
It really all depends on the buyer and how "good" a deal it is. If the buyer is handy or has the funds to pay someone and can fix some usual foreclosure problems and they get the home way under FMV, to offset the repair bills, then yes it can be wise. If you aren't getting a stellar deal and there are plenty of typical resales, stick with the resales. I don't know about growth in your area, but in FL and CA, there was quite a boom the last 4 or 5 years, which over inflated prices and inventory, hence the over abundance of true buyers, investors, bad loan program choices, etc, which resulted in people just walking away from homes and further increasing the inventory. The sad part is, and I don't agree, many people have walked away, just because the home wasn't worth what they owed, no other reason. If they stayed in it for the typical " 5 to 7" years, they may have been fine, but they just don't see why they should pay and I think many get in the mind set of, "well if my neighbor, did it, why can't I?" I'm done whinning now, just be happy you don't have to filter through 3/4 of your listing to rid yourself of the short sales, I envy you. Sorry, guess I wasn't quite done, haha.Tue Jun 17 2008, 07:47
Web Reference: http://www.BuyAndSellTampa.com

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

My opinion on the economy, and housing market in the Wilmington NC Area.

noreply@blogger.com (Ralph "The House" Hunter) — Wed, 18 Jun 2008 13:24:00 +0000

I have always liked Ben Bernanke, but I was critical of his bailout of so many irresponsible investors, and corporations. I realize that he may have averted a major economic meltdown, but is that possible, or are you simply delaying the inevitable, especially in the early stages of a true global economy? Slashing bank interest rates, and sending stimulus checks to people to help pay down their debt (which will eventually all end up in China or India) were not my favorite ideas. Had the rate cuts been helpful to distressed homeowners, I would have been more in favor despite the fact that millions of elderly Americans pay their bills every month with interest from their life savings, and now they have watched that interest disappear while banks get their finances straight. Did I just say banks get their finances straight? Something about that seems very wrong. However, recently it seems to me that his bailout, at least, was short term. He now seems ready to fight inflation, and leave the other markets to absorb his tactics, then naturally stabilize. However, energy prices have created a different kind of inflation, one that is very real, and one that we have no control over, so how much can he really do? I have heard various reports about housing, and I fully expect to see home prices stay down for at least another year. My recent experience has left me to believe that Americans will collectively fight to keep the value in their homes. This has created a stalemate, that could last a long time. I personally think most markets have lost the majority of their value already, and homeowners will simply hold out until the demand catches up with the supply. I hear it all the time, “I have to sell my house in so and so before I can buy here.” This says to me, “ I don’t plan on buying anytime soon.” Charlotte NC recently has been the single most desireable city in America, and I have spoken to people who are complaining about the housing market. They are waiting to sell before moving here to Wilmington, but they refuse to get serious about their price. One day the demand will catch up with the supply, but it will take a while. One other thing that recently startled me occurred when I was searching around to downsize my boat because of fuel prices. When looking through the boat magazine, I noticed a massive amount of very expensive boats that were purchased between 2005 and 2007. Then I started noticing that dealers were offering similar brand new boats for about 20% less than the used boats. Boats are very easy to get repossessed because we have very little real need for them. I think many people need to come out of the clouds and realize that if they don’t sell now, it may be years before they get back to where they are now. Interestingly enough, we are in an age of unprecedented collaboration, and innovation, and if America corners the market on a cheap, environmentally friendly fuel, those struggling the most right now, will probably be the biggest winners. I’ll use the cliché No Pain, No Gain Right?

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

New Hanover County Open House Schedule Until End of June.

noreply@blogger.com (Ralph "The House" Hunter) — Tue, 17 Jun 2008 16:15:00 +0000

Listings as of 06/17/08 at 12:12pm
Page 1
Listing #
Price
Address
City
Community
Listing Office

SINGLE FAMILY
379622
$168,000
7708 Trap Way
Wilmington
Cypress Island06/28/08
12-2-->
Laney Real Estate Co.
Date: 06/28/08
Time: 12-2
Comment
Directions
College Rd, to Carolina Beach Rd, Right on River Rd, at Snows Cut Bridge, 2nd entrance Cypress Island, Up left to end of cul-de-sac
412412
$203,900
3039 Weatherby Ct
Wilmington
Northchase06/21/08
1-3PM-->
Coldwell Banker Sea Coast Rlty
Date: 06/21/08
Time: 1-3PM
Comment
Move in Ready! Open floor plan with large backyard- Great for Entertaining!
Directions
North on College, exit 420B left, pass Laney HS, left at first entrance into Northchase, 1st right on Weatherby Ct, house is on the right.
401638
$211,900
709 Hunting Ridge Rd
Wilmington
Echo East06/21/08
1-3-->
Laney Real Estate Co.
Date: 06/21/08
Time: 1-3
Comment
Directions
college road south to right on 17th street left on St Andrews Drive, right onto Haymarket Land then a left onto Hunting Ridge...home on the right
418257
$237,500
7319 Cassimir Pl
Wilmington
Cassimir Commons06/29/08
12-2-->
Laney Real Estate Co.
Date: 06/29/08
Time: 12-2
Comment
Directions
College Road South to Carolina Beach Road to right into Cassimir Commons house on the left. sign in garage window
414596
$313,000
7601 Champlain Dr
Wilmington
Ocean Forest Lakes06/21/08
1pm-4pm-->
Exit Homeplace Realty
Date: 06/21/08
Time: 1pm-4pm
Comment
A great value in a great neighborhood. Bring your buyers! 4BR, 2Baths, 2 car garage, a great yard with lots of perennials and fountains. Open and spacious floorplan, maple cabinets, double vanity in master bath and lots more.
Directions
Carolina Beach Rd south, right on Saunders, left on River Rd. Ocean Forest Lakes is on the left past Tidewater. Left into Ocean Forest Lakes,Left on Okeechobee,rt on Champlain. (facing house when at stop sign on Okeechobee)
411818
$389,500
8208 Mainsail Ln
Wilmington
The Cape06/21/08
2-4-->
Laney Real Estate Co.
Date: 06/21/08
Time: 2-4
Comment
Directions
College Road south to Carolina Beach Rd. to right into The Cape left on Mainsail home on right on golf course
401632
$412,000
329 Aldrich Ln
Wilmington
Middle Point06/21/08
2pm-4pm-->
Prudential Burroughs & Chapin
Date: 06/21/08
Time: 2pm-4pm
Comment
Directions
North on Market, right on Middle Sound, right at school, left on Harlandale into Middle Point, right on Aldrich, house on left. No sign in yard.
401196
$489,000
105 N Lumina Ave N #B
Wrightsville Beach
Beach Haven Condomin06/21/08
1:00 - 4:00-->
Coldwell Banker Sea Coast Rlty
Date: 06/21/08
Time: 1:00 - 4:00
Comment
OPEN HOUSE! Great Condo steps from the ocean and sound front. Everything has been replaced in this 2 bed, 1 bath home except the carpet. A must see!
Directions
Eastwood Rd/US 74 towards Wrightsville Beach. Continue over bridge on Causeway Dr, stay right on Causeway Dr. and turn left on N Lumina Ave at Wings. Condo is top Condo on left.
404903
$499,900
104 Capps Ct
Wilmington
Other06/22/08
12:00 - 4:00-->
Real Connections, LLC
Date: 06/22/08
Time: 12:00 - 4:00
Comment
Directions
Oleander to Pine Grove Road. Follow Pine Grove to Beasley. Right on Beasley. First right on Capps Court. House on right.
415274
$799,000
6924 Runningbrook Terr
Wilmington
Demarest Landing06/22/08
2-4 p.m.-->
Prudential Burroughs & Chapin
Date: 06/22/08
Time: 2-4 p.m.
Comment
Directions
North on Market, right on Middle Sound, right at school, right into Demarest Landing, right on Runningbrook, first house on right.
416756
$899,000
220 Sea Gull Ln
Wilmington
Sandollar Shores06/22/08
1:00 - 4:00-->
Coldwell Banker Sea Coast Rlty
Date: 06/22/08
Time: 1:00 - 4:00
Comment
Open House! Waterfront community with 30 Ft boatslip. This home boasts a newly renovated kitchen,5 bedrooms, 4.5 baths on 1.14 acres! Come enjoy a relaxing afternoon in this beautiful home.
Directions
South on College Rd/NC132 towards Carolina Beach. Turn Left on Piner Rd. @Monkey Junction to Myrtle Grove Rd. Turn left on Myrtle Grove and right @ Sea Gull Lane, home is on the right.
Presented By: Ralph E Hunter Jr / Victory Real Estate Sales, Inc Phone: 910-262-8820

Equal Opportunity Housing * All information deemed reliable, but not guaranteed.
(OHOUSE-0)
Featured properties may not be listed by the office/agent presenting this brochure. All information herein has not been verified and is not guaranteed. ©2008 Multiple Listing Service of the Wilmington Regional Association of REALTORS, Inc

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

noreply@blogger.com (Ralph "The House" Hunter) — Tue, 17 Jun 2008 12:10:00 +0000

Tuesday, 06/17/2008 8:00 PM
Battleship Hootenanny Join us for the 8th annual Battleship Hootenanny, a concert of folk and pop favorites, on the Fantail under the stars. Auditorium if inclement weather. John Golden and friends head up a fine cast of local musical groups. Tickets are $10 (cash only) at the door (does not include a tour of the Ship). Fresh popcorn and sodas available for $1 each. Proceeds to benefit Friends of the Battleship. For information call 910.251.5797 Ext. 2045.Battleship North Carolina#1 Battleship RoadWilmington, NC 28401www.battleshipnc.com
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Thursday, 06/19/2008 8:00 PM - Sunday, 06/22/2008
To Gillian on her 37th Birthday David has cut himself off from his family and his life since the death of his beloved wife Gillian. Now his family has gathered at David's beach house on the weekend of Gillian's birthday and the anniversary of her death to urge him to get on with his life. A critically acclaimed and touching love story which captures the emotional trials of a family coming to terms with tragedy. Tickets are $15/12. Call 910.343.3664 or 800.523.2820 for tickets.Thalian Hall310 Chestnut StreetWinnabow, NC 28401www.thalianhall.com
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Thursday, 06/19/2008 8:00 PM
Bach at the Beach The program features a performance of the Brandenburg Concerto No. 6 by the North Carolina Guitar Quartet, as well as performances by UNC Wilmington music faculty Nancy King (soprano), Barry David Salwen (piano), Mary Jo White (flute) and Elizabeth Loparits (piano). Guest soloist Norman Bemelmans (piano) will close the evening with Bach's massive Organ Prelude and Fugue in D Major, in Busoni's concert transcription for solo piano. Tickets are $15. Call 910.962.3500 or 800.732.3643.UNCW, Kenan Auditorium601 S. College Rd.Wilmington, NC 28403www.uncw.edu/arts
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Friday, 06/20/2008 6:00 PM
Trolley Memories Come join our Conductor, Bill Creasy, as Wilmington Car No. 108 comes to its final stop on the front porch. Music by Kelly Jewell. Catered southern buffet by Musser's. Tickets $15. Must purchase by June 14. Call 910.256.2569 for more information.Wrightsville Beach Museum of History303 West Salisbury StreetWrightsville Beach, NC 28480www.wbmuseum.com
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Friday, 06/20/2008 8:00 PM - Sunday, 06/22/2008
South Pacific South Pacific concerns the lives of the US military men, nurses, and aboriginal natives occupying a Polynesian island during World War II. It is also two parallel love stories, both threatened by the dangers of prejudice and war. Navy nurse Nellie Forbush has fallen for French planter Emile de Becque, but when she learns that the mother of his children was an island native she is unable to overcome the prejudices she was raised with and refuses to marry him. Meanwhile, Lt. Joe Cable has fallen for Bloody Mary's daughter Liat, but denies himself a future with her out of the same fears that haunt Nellie. When Joe and Emile are sent on a life-threatening mission, Nellie must decide what is most important to her. This passionate musical includes some of Rodgers and Hammerstein's most beloved songs, including "Some Enchanted Evening", "I'm Gonna Wash That Man Right out of My Hair", "Bali Ha'i", "There Is Nothing Like a Dame", and "This Nearly Was Mine". Call 800.523.2820 or 910.343.3664.Thalian Hall310 Chestnut StreetWilmington, NC 28401www.thalianhall.com
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Friday, 06/20/2008 8:00 PM - Sunday, 06/22/2008
Shakespeare on the Green Festival Hear ye! Hear ye! Shakespeare is alive and well at Greenfield Park! Visitors to Historic Wilmington and North Carolina's Cape Fear Coast can experience live outdoor Shakespearean drama when the Shakespeare on the Green Festival takes the stage at the Greenfield Lake Amphitheater. This year's performance will be the Taming of the Shrew. Wilmington's annual free-to-the-public Shakespeare on the Green festival will celebrate its 16th season. Call 910.762.6393 or email shakespeareonthegreen03@yahoo.com. Greenfield Amphitheater3rd Street & Carolina Beach RdWilmington, NC 28401www.myspace.com/shakespeareonthegreen
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Saturday, 06/21/2008 - Sunday, 06/22/2008
Living History Weekend at Moores Creek Meet soldiers from the past and learn about historic weapons, clothing, military drill, and combat during the Revolution. Musket demonstrations will be offered daily. Call 910.283.5591 for more information.Moores Creek National Battlefield40 Patriots Hall DriveCurrie, NC 28435www.nps.gov/mocr
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Saturday, 06/21/2008 10:00 AM
Summer Artillery Program Costumed volunteers and site staff will demonstrate both field artillery and heavy seacoast artillery for visitors throughout the day. Fort Fisher's bronze 12 lb. Napoleon cannon will be featured, as well as other field artillery pieces. Highlighting the program will be the firing of the 32-pounder rifled and banded seacoast cannon atop Shepherd's Battery at 10:30am, 11:30am, 1:30 pm, 2:30 pm and 3:30 pm. Costumed guided tours of the fort will be offered at scheduled times throughout the day. This event will be open to the public from 10am to 4pm. Call 910.458.5538 for more information. Noise from the cannon firings is extremely loud. Fort Fisher State Historic Site1610 Fort Fisher Blvd. SKure Beach, NC 28449www.nchistoricsites.org/fisher/
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Saturday, 06/21/2008 1:30 PM
NC Country Music Festival The North Carolina Country Music Festival will feature Country Music Recording Artist Joe Diffie appearing at 8pm & featuring many of his 12 #1 Hits. The festival will have boot kickin' country music from North Carolina favorite's Dakota Rain, Dixie Driver, & Holland Marie and Johnston County Line beginning at 2PM. Guests can stroll through the arts & crafts booths as well as the assortment of food vendors. Relax & enjoy the music outdoors in Kure Beach on the beautiful Cape Fear River. Rain or shine event, no coolers or pets. Email shelly@northcarolinacountrymusicfestival.com or call 910.458.4777 for more information.Fort Fisher Military Recreation Area118 Riverfront RdKure Beach, NC 28449www.northcarolinacountrymusicfestival.com
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Saturday, 06/21/2008 8:00 PM
Bach at the Beach Wilmington Symphony Select (Steven Errante, conductor) joins special guests the Vanguard Voices, an award-winning, 40-voice choir from Dearborn, Mich., for a performance of Bach's monumental Mass in b minor. Tickets are $18. Call 910.962.3500 or 800.732.3643.UNCW, Kenan Auditorium601 S. College Rd.Wilmington, NC 28403www.uncw.edu/arts

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

A guide to various neighborhoods in Wilmington. Differences in the beaches as well.. Part II

noreply@blogger.com (Ralph "The House" Hunter) — Tue, 27 May 2008 20:52:00 +0000

A guide to various neighborhoods in Wilmington. Differences in the beaches as well..

When leaving the downtown area via Market St, you will see one of the most beautiful and traditional neighborhoods in Wilmington. Also scattered throughout this area are a few historic homes. Red brick, oversize trim, mature, elaborate landscaping, and classic architecture are how I would describe Forest Hills. Due to it’s proximity to the hospital, you will find a large collection of homeowners involved in medicine here. Home values here are substantially higher than the average home in Wilmington NC, and similar to the homes in the historic district of downtown. The pros are an active community complete with a neighborhood elementary school, large sidewalks with nearby parks, beautiful homes, and some that are still somewhat affordable. The cons are: traffic moves quite quickly through some parts, there are some nearby crime areas, and pine sap can get all over your car. All in all, it’s considered an affluent area and great place to live in Wilmington. Continuing north east on Market St, on your left you typically find pockets of high crime government housing, mixed with college age apartments and townhomes. On the right is where you will find one of Wilmington’s major commercial business districts. Everything from food, to shops, to movie theatres. Next I will cover the NEW Mayfaire area, and Eastwood Rd. near Landfall and Wrightsville Beach. Thanks!

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

noreply@blogger.com (Ralph "The House" Hunter) — Sat, 24 May 2008 13:59:00 +0000

Is real estate still a good investment for those who aren't highly involved in the industry?
Gone are the days of flipping properties for a 100% return on cash invested. My questions is, with so many huge fees involved in real estate, and considering that the average home price stayed the same for almost 40 years last century, do you think it is still wise to casually invest in real estate?

At his latest Shareholder meeting, Warren Buffet predicted that investments in the stock market will be less in the coming decade than they have been in the past. He said he would be happy with a 10% return in the coming years. Right now, there are a multitude of homes available for sale in most areas making this a buyer's market. In many areas, that number is slowly decreasing. Interest rates on mortgage loans are creeping up. As the inventory decreases and interest rates rise, home prices will also rise. So, if you do your research, you can buy a home now that will appreciate in value over time. The amount of appreciation and time will depend upon the specific location. If you plan on renting the property, double check your return on investment figures and check with the city planning commission to find out their plans for the area. I believe investments should be planned, rather than made casually. In 2003, the average renter in America was worth less than $5,000.; the average homeowner was worth nearly $172,000. Do the math; that makes the average homeowner 34 times richer than the average renter. If you already own your home, you are building equity. Rental property can provide additional monthly income as well as adding to your net worth. Another thing to think about is this: If you currently have a fixed rate mortgage of 6% on a property and interest rates rise to 12% in 5 years, is that valuable to you?Wed May 21 2008, 10:09
Answered by Maria Morton Real Estate Proin Kansas City

Very compelling numbers Maria, thanks. I had heard a similar figure from the NAR recently. I completely agree with you. The deals are out there to be found, but even if you are working with an amazing broker, it's still your responsibility to do the homework. Thanks, Ralph! Web Reference: http://www.homevaluator.org
Answered by Ralph Hunter Real Estate Pro in Wilmington

Yes Ralph I do. If you choose the right proerty. If you can get a property for less than its value it would be a good time to invest if you do not intend to flip. Flipping property is not a lucrative as it was in the past few years. If you a planning to invest in real estate I would suggest buying to rent or lease. There are many families who have lost their homes to foreclosure who will not be able to buy for many years due to destroyed credit. These people will now need to rent in order to provide shelter for themselves and their families. That makes it a good time to invest in real estate if you plan on becoming a landlord.Wed May 21 2008, 06:03
Answered by Carrie Crowe… Real Estate Proin Baton Rouge, LA

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

noreply@blogger.com (Ralph "The House" Hunter) — Sat, 24 May 2008 13:31:00 +0000

Do you see the prices dropping even more in a year?
Asked Fri Jan 18 2008, 14:27 by Susan Marin … - Wilmington - Market Conditions - 7 answers
Ralph Hunter answered:

If you speak generally, then I would say yes. However, savvy investors aren’t successful for sitting on the sidelines. I would say if you are experienced in real estate, have money to invest, and you are willing to do the homework, you can be very successful. A home on Kure Beach on a large lot, with amazing ocean views, just 50 yards to the ocean, sold for $245K. That was over a year ago. With some updating, and a few tricks, you could cover most of your expenses with vacation rental income, plus get to use it. That seems like a good investment to me. To this day I haven’t seen a home that close to the ocean sell for less. - Sat May 17 2008, 20:55
Furthermore, if you are thinking about buying an owner occupied home, a short term purchase (4 years or less) probably isn't a good idea unless you are willing to sacrifice personal preference to find a great buy. It's tough though to have a list of needs, then find a great deal. That's the problem I am having now. The broker inside of me will not let me pay too much for a home, but my wife wants to kill me. Now it's just a waiting game, not sitting on the sidelines. - Sat May 17 2008, 21:15

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

A guide to various neighborhoods in Wilmington NC as seen through a lifelong resident's eyes.

noreply@blogger.com (Ralph "The House" Hunter) — Wed, 21 May 2008 17:37:00 +0000

A guide to various neighborhoods in Wilmington. Differences in the beaches as well..
I am going to begin down town, and work my way around the Wilmington Area from there. Downtown is made up of about 4 distinct areas. You have the northern district which once was dilapidated. Developers tore down most of the riff raff, and a new scene is taking shape. PPD is the most notable feature here at the moment, but several huge changes are on the horizon. The Wilmington Convention Center will be under construction soon, and this will be a sight to see. Just next door they will also be building a 4 star hotel and restaurant. Several other developers have mentioned building hotels in this portion of downtown, though the current recession may have them rethinking that. As of the moment this portion of downtown is not very pedestrian friendly, but the world class River Walk is expected to be extended here while the convention center is being built. Another major attribute of downtown is the business district across the Cape Fear River from the Battleship NC. This area is made up of mostly older high rises, and small historic store fronts. It’s a mixed use area where you often find apartments on top of storefronts or bars, and office space sprinkled in as well. There are literally hundreds of small shops selling things such as great food, clothes, and groceries. You will also notice a large amount of salons, and spas here. Office’s are typically filled with attorneys, (proximity to courthouse) accountants, or other educated professionals. Once again developers are proposing several high rises for this area. One condo complex is supposed to feature a rooftop pool, and indoor gym. Most proposals feature shops of offices on the first 2 floors, with condos above. Developers are quickly trying to change the theme of downtown from a historic district with small mom and pop shops, to one with more of an art deco theme complete with contemporary high rises, and a huge surplus of properties. Though I have to admit that the new proposals are beautiful, I have major concerns about this. With little regulation on height, or # of units, what’s to stop developers from building these places without end? If I were going to buy in the downtown area, it would never be a condo, but rather a piece of land with a house that I could tear down, or rent out. Otherwise, you may find yourself competing with new construction condos for the next 20 years. Also located here is the world class River Walk. It fronts the Cape Fear River, and extends along most of the commercial district. It’s scenic, and peaceful. You look out over the river at the battleship, and shipping ports. Shops, restaurants, and offices also extend along the river walk. At night, you will be amazed at the transformation here. Especially on weekends, thousands of residents and tourists flood the many bars and clubs. Wilmington has long been a leading city for young professionals to relocate too, and the downtown bar scene, and beaches of course are the leading reasons. As you travel south towards town, you will notice a totally different downtown atmosphere. This area is full of large, beautiful historic homes. May of these homes are over 200 years old. Most have been restored, and are absolutely beautiful. All around you are large oak trees, and beautiful landscaping. When strolling through this area, you truly feel like you have stepped back in time. Home values here are very high of course, but as I said, do to the scarcity of this land, it’s a much better investment. Also scattered throughout this area are several historic, gorgeous churches. Downtown Wilmington is known world wide for it’s beautiful architecture, and the churches in this area lead the charge. Once again, many of these buildings are over 200 years old. The last section of downtown is much more affordable. This is the largest area, and covers a good bit of north Wilmington, stretching to 17th st which runs right through the middle of town. As you can imagine, it’s also less desireable. However, do not think these means it is not desireable. This area is interesting because it’s not uncommon to have a home worth 100K beside a home that’s worth 500K. Every block is different. Some blocks seem very safe and appealing, while others have drug activity. It is the most diverse portion of Wilmington in my opinion. There are also a few commercial districts spread around this area, such as Castle St. I would venture to say that this area offers the most opportunity for real estate investment if you have an eye for diamonds in the rough. When I have clients interested in property downtown, I always suggest that they visit the area at night. This is the best time to judge whether downtown is acceptable to you, and note any nearby crime or noise that may affect resale. Downtown Wilmington has loads of charm, but it also has it’s disadvanatages. It’s important that you understand the dynamics completely before purchasing here. It’s a mash up of historic houses and shops, contemporary condos, bars, clubs, shops, restaurants, churches, offices, government buildings, and more. I will move West on Market St towards Wrightsville Beach in my next post.

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

A List of Open Houses Occuring in the Wilmington Area This Weekend.

noreply@blogger.com (Ralph "The House" Hunter) — Wed, 21 May 2008 16:31:00 +0000

379622
$168,000
7708 Trap Way
Wilmington
Cypres
510
05/24/08
2-4 pm
Laney Real Estate Co. / Kathy M Marcinowski
Comment:
Directions to Property: College Rd, to Carolina Beach Rd, Right on River Rd, at Snows Cut Bridge, 2nd entrance Cypress Island, Up left to end of cul-de-sac

405905
$212,000
6821 Wyck Farm Way
Wilmington
Wyck F
241
05/24/08
1pm - 4pm
Coldwell Banker Sea Coast Rlty / Beth Fortunato
Comment:
Directions to Property: N on Market to Left on Gordon Rd to Left on Wyck Farms Way. Home is 6821 on right.

411768
$217,900
414 Governors Rd
Wilmington
Parkwo
111
05/24/08
1-4
Exit Homeplace Realty / Dawn Berard
Comment: Come see this completely redone over 2000 square foot home and ask about zero down and no PMI! MOTIVATED SELLER.
Directions to Property: Market to left on Gordan to right on Harris to left on Canetuck to right on Governors. House on right.

416618
$220,000
5930 Chester St
Wilmington
Inland
21
05/24/08
1-3 pm
Laney Real Estate Co. / Gail R Bailey
Comment:
Directions to Property: Market Street to right on Eastwood Road towards Wrightsville Beach, take left onto Cardinal, turn right onto Chester home on the right

415330
$299,300
4012 Wrightsville Ave
Wilmington
Audubo
47
05/24/08
11:00-2:00
Legacy Real Estate / Justin E Hamilton
Comment:
Directions to Property: College Road to Wrightsville Ave. towards downtown. House is on left.

388153
$329,000
4203 Ashley Park Dr
Wilmington
Ashley
383
05/24/08
1-3 pm
Laney Real Estate Co. / Ginni W Goodwin
Comment:
Directions to Property: College Rd So. Right on 17th St. Left at John D. Berry Dr on to St. Andrews. Left on to Aston Park Dr. House on left.

411818
$389,500
8208 Mainsail Ln
Wilmington
The Ca
110
05/24/08
2-4 pm
Laney Real Estate Co. / April S Fizer
Comment:
Directions to Property: College Road south to Carolina Beach Rd. to right into The Cape left on Mainsail home on right on golf course

388818
$497,500
8008 Yellow Daisy Dr
Wilmington
River
363
05/24/08
1-3 pm
Laney Real Estate Co. / Gail R Bailey
Comment:
Directions to Property: College Road South to right on Saunders, left on River Road, take second River Oaks entrance. left on Yellow Daisy home on the left

415330
$299,300
4012 Wrightsville Ave
Wilmington
Audubo
47
05/25/08
11:00-2:00
Legacy Real Estate / Justin E Hamilton
Comment:
Directions to Property: College Road to Wrightsville Ave. towards downtown. House is on left.
All information herein has not been verified and is not guaranteed. ©2008 Multiple Listing Service of the Wilmington Regional Association of REALTORS, Inc
Generated: 5/21/08 12:30pm

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

Pricing your home in the Wilmington area… Know the likelihood of your listing selling…

noreply@blogger.com (Ralph "The House" Hunter) — Mon, 19 May 2008 19:03:00 +0000

Pricing… Know the likelihood of your listing selling…

Considering the current market, pricing is of the utmost importance. Conversely, it’s harder and harder to find good comparables as the average days on market continues to rise. This is why for many of my clients, I tell them that your price should be a product of your motivation. Perhaps, 20% comparables, 80% motivation. Obviously you need a starting point, so you would start by analyzing the comps. Comps in terms of an appraiser would only be measured by sold properties. However, it’s not uncommon for me to see an equal active listing priced less than the last sold listing. If this is the case, is the sold listing the better comp? On the other hand, I also have sellers who only see the active listings that are all 15% overpriced, and refuses to consider the sold comps. Also complicating the situation, it’s not uncommon for a listing to sell for 20% off on our beaches at the moment, so if a home is listed for 300K which is about the average, it could easily sell for 60K less. I have had sellers cling to a pending listing only to find it was overpriced. In my earlier post I discussed who should consider themselves a motivated seller, or not, in this post I will discuss how you should price it if you are a motivated seller. In Wilmington, on average, only 40% of homes have been selling. Furthermore, the average days on market in April 08 were 109. This is supposed to be the spring market. That will go back around 180 or more as the year progresses. As you can see, even if you are priced in line with your comparables, your chances of selling are less than half. If you are the highest priced home in your community, the odds are seriously against you. On Carolina Beach the odds of a listing selling are 22%, and not much better on Kure Beach, and Wrightsville Beach. Even if you are the lowest priced home in the neighborhood, if your home isn’t most desirable, there is a good chance it won’t sell. So if you are motivated, it basically boils down to this. If your home is truly nicer than your neighbors (Remember, a wrong opinion could mean your home not selling), you have a strong chance of selling if you are the lowest priced home in the neighborhood. Otherwise, there simply are very few serious buyers out right now, and if you price too high, or hold out for a higher price, you may be waiting until next year, and probably will be selling for about 5% less. I would say 90% of foreclosures are happening because sellers fail to account for the sluggishness we are feeling right now, until it is too late. If you are truly motivated, price it accordingly. This is almost definitely a recession, and sales could be down for 2 years easily. Plan for the future. If you set a lowest price, make sure it truly is your lowest price, because you may be holding on for a while.

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

noreply@blogger.com (Ralph "The House" Hunter) — Sun, 18 May 2008 18:38:00 +0000

The Power of Craigslist in Real Estate… and just about everything else too.

I was adding several of my listings to Craigslist and it occurred to me that this would be a great topic to talk about on my blog. If you are not familiar with Craigslist, it is a very simple, yet powerful tool. I haven’t verified, but I have heard that they receive billions of hits a month. Don’t let the simplicity fool you however. Considering that it is free, and powerful, people have begun developing thousands of techniques to market their products on Craigslist. It is also very unique when compared to most other listing venues. I have purchased and read several books dedicated to maximizing Craigslist potential. While any one can easily post an ad, is it effective? Is it as effective as it could be if a professional were doing it? While I can’t display all of my secrets, I can tell you that listings for homes that don’t have pictures are disregarded almost immediately. If you don’t have time to take, and post pictures, then I can guarantee you a qualified REALTOR will be well worth the money. If you don’t respond to your inquiries within a few hours without fail, then you will undoubtedly lose many great leads. After just a few days, your ad gets buried so far back on Craigslist, it’s tough for buyers to find it. While you can’t keep relisting the same ad, I have a technique for easily reposting my ads every few days to ensure that my listings stay near the top. Perhaps the most important thing that I am able to do for my clients, is list their property in multiple different city directories. A huge portion of home buyers relocating to this area come from Raleigh, Greensboro, and Charlotte. I always list my properties on all of these pages in addition to listing on the Wilmington area site of course. Despite a rule against this, I have developed a technique to effectively do this while keeping my ads current and near the top of the page. The bottom line is, Craigslist can be very effective if you know how to use it. The question is, will you take the hours of research and follow up necessary to gain any benefits?

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

Consider if You May Sell a Home in the Wilmington Area Soon

noreply@blogger.com (Ralph "The House" Hunter) — Thu, 15 May 2008 14:18:00 +0000

A Special Report to Consider if You May Sell a Home in the Wilmington Area Soon

Spring is nearing an end, and real estate in the Wilmington area has definitely picked up. However, I want to caution sellers. I have been hearing many sellers tell me there absolute bottom line price, followed up with a promise that they will pull the home off the market before they will sell for a lower price. That’s fine, and I deal with it all the time. I do want to give a strong word of caution though. A huge portion of these sellers, end up relisting, and reducing their price anyways. When considering whether to reduce your price, or even sell now, it is a very complex decision. The single most important thing for you to do, is to remove the emotion from the picture. As a broker I feel my most important duty is to guide my clients into making realistic, non emotional decisions. Everyone has heard the old saying, “you are obviously the top bidder for your home, after all you bought it.” However, I have found that you have to take it much, much further. In a declining market, being a seller is like holding a stick of dynamite while the fuse is lit. Could it get worse? It very well could get a lot worse. I have been saying that now is a good time to buy because you are dealing with a market not a single home, and a story on Yahoo news said that 74% of the country’s millionaires agree, but there is potential for this slow down to get much worse for sellers, and last for some time. With that being said, as I have said all along, all investments are losing value right now, or peaking. (Gold, Oil). Experience has taught me that I would much rather buy an asset losing value, than one that is peaking. Especially when the fundamentals are as strong as is possible, but the price has been artificially brought down due to larger economic forces. (Wilmington Area Real Estate Market) From a seller’s standpoint, the picture is infinitely more complicated. One thing that I tell my sellers that I feel helps open their eyes to what we are dealing with is this. Any one of the neighbors in your community could put their house on the market today, and reduce the value of your home by 10-50K overnight. How? Distressed homeowners drive declines, and I have watched it happen to my clients time and time. For instance, after 5 months of being seriously overpriced, a seller called me with a $75K price reduction. We were now finally the lowest priced home in the community, and I thought our chances of selling were strong. One week later another unit came on the market for 15K less than our reduced price. That was the only home in the community to sell that spring. Luckily this owner was on a vacation rental program, and the investment still offered a lot of advantages. Which brings me to another point. I have also seen many sellers take a vacant home, and price it higher than the comps. This can be financial suicide. The cost of carrying a piece of real estate is typically much more substantial than other investments, and therefore should be heavily priced into the investment. In my opinion, vacant homes are a sign that my buyers have a strong negotiating position. If your home is vacant, PRICE IT RIGHT. As I mentioned before, your neighbor could list tomorrow and devalue your house much more than what it’s worth today. In a declining market, the name of the game is speed. Every day you are spending money to carry a property, you are risking a distressed listing hitting the market and dropping your value, and you are risking major liability on vacant properties.

Now that you know how to sell, you are probably wondering should you sell? I look at it this way. I will start with the people who should list today, and list for a very competitive price.

1. If you have already had problems making payments on a home.
2. If you think you may have problems making your current ( and future payments, ARM borrowers) Plan for at least 5 years of a slow economy.
3. If your tolerance level for risk is low. In the current economy risk is a major factor.
4. If you’re an investor, and your investment appears as though it will keep you in the red for more than five years, I would want to sell that property, and find something better. These days positive cash flow investments are everywhere. If you are unhappy about an investment, cut your losses, write them off on your taxes, and start fresh.
5. If you are going to be buying a home in an area that has seen substantial declines, then you are going to be getting a great deal right? Then any loss you take selling your current home, will be made up when you buy right? (More if you have a great agent)
6. If your home is vacant, sell if for a great price ASAP, or find a tenant. Rental management is not as bad as everyone makes it sound.
7. If you are being forced to move because of a job, etc.
8. If you have already bought another home, and are hoping to sell before closing on the new property. #1 way to end up in foreclosure.
9. You have the inside track on another investment that will net better returns. (Let me know when you find it.)
10. This is just my opinion, but 95% of the transactions in 2005-2006 were grossly over priced. If you purchased during this time, that property WILL lose a lot of value in almost every case. The question is, will it lose more than it has so far? The short answer is probably yes.

One thing I would like to mention is that if you would like to sell your home quickly, find a broker who specializes in owner financing, and finance 5- 20% of the purchase price for your buyer. If they default on the small loan, you can foreclose and take back possession. This works even if you are flirting with foreclosure and don’t have any equity, you will simply have to scrape up a loan or cash, yourself. You also may consider having a buyer take over loan payments. This is actually possible in real estate, and can be beneficial to both buyers and sellers. Ask me more about these options if you are interested.

Sellers who may want to sell, but may not be quite as motivated…

1. Your home is a vacation rental. This will actually help you to sell your home on the beach. I have had huge success using rental income to help justify purchase price.
2. You live in your home, and are moving because of personal preference.
3. You aren’t happy with real estate investment, and would like to put your money elsewhere.
4. You have a long term renter. Particularly with lower priced housing, you can potentially sell a home with a good renter in place.
5. The real estate kitchen is starting to get hot, and you would like to take some time to watch the economy play out. (Risk tolerance)
6. You will be paying a huge amount of taxes next year. Now would be a perfect time to unload bad investments and write them off.

Perhaps most importantly, reasons you should not be selling!

1. Preparing for an economic meltdown. The bottom line is, you can’t prepare for a meltdown. Even cash in hand has little value if our economy collapses. Others may disagree, but I don’t think anyone should prepare for the worst case scenario, unless lives are at stake. (This is more of a philosophical belief I have about NOT living your life in fear)
2. Fear is ruling your decision making. Early I mentioned that you should sell if your risk tolerance is low. This is very different from fear. Wall Street often measures risk in quantifiable numbers. I’m not sure about that either, but there is a difference. You can personally measure risk by asking yourself a few questions. If I lose all of the time and money I have invested in this, will it substantially disrupt my livelihood, and possibly my happiness? How about those that depend on me? Would anyone’s health be at risk? I know some of you are saying to yourself, if I lose $50K, my health will be at risk, but this is another area where you will need to separate emotion from fact, and a broker is just what you need.
3. You think you can make a better investment somewhere else. Investing is not easy, otherwise we would all be rich. The chances are very strong that your current investment will outperform almost every other investment vehicle during these times. Especially if your home is in the Wilmington area, and you made a good objective purchase in the first place. Real estate costs a lot to buy and sell for all parties involved, if you simply get cold feet and get out at the first chance you get, your expenses alone will wipe away all early gains. Flipping properties is a thing of the past unless you are in the top 1% who are the best. Don’t buy or sell real estate without planning for a 5 year timeline at least.
4. You recently bought a home, and now you realize it’s not exactly what you wanted. In the current economy, sacrifices need to be made. Your cost to sell an average home in Wilmington is typically around $20K. Buying is also costly when a loan is involved.

Bottom Line: Even though now is a great time to buy because of interest rates, and the fact that you won’t have much competition, In my opinion, we are almost a year from seeing the actual bottom in housing, even in our area. Why? Rental rates across Wilmington have recently fallen dramatically despite an increase in demand. As more leases renew for lower rates, this will put home owners in more of a financial bind. Also, the financial crisis is a very real problem. I recently heard that the days of a 100% loan no longer exist. It is going to be down right hard to qualify for a loan from this point forward. A massive portion of recent homebuyers will no longer be in that position. The Wilmington area real estate market exhibits all of the fundamentals of a booming economy, however we are artificially tied up because people have to buy and sell their property elsewhere before making a purchase here. This is a stalemate like no one has ever witnessed in our lifetime, and it won’t clean up over night. A sliver lining is that almost every recession in history is followed by a major BOOM! This is why you can’t let fear paralyze you on the sidelines. Even in 2005 I found my buyers a few deals that to this day have been a good investment. There is no substitute for a great property at a great price, the deals are out there NOW, and typically only come along every few months. Could you save money by waiting, maybe, but history proves you will also miss a huge opportunity! In a recent poll, the vast majority of millionaires in America felt that now is a great time to buy an depressed investment because there are less buyers, and more great deals. Maybe this recession will give you the chance to be a part of that millionaires poll.

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

Understanding whether to buy or sell can be complicated... I see it like this for residents of Wilmington and it's beaches.

noreply@blogger.com (Ralph "The House" Hunter) — Mon, 12 May 2008 19:19:00 +0000

I recently noticed something that startled me quite a bit. As a result of managing long term rentals, I am very familiar with typical monthly rental rates in the area. Very recently I have noticed a very dramatic decline in the rate renters are paying. How will this affect housing? First, when someone is in the market for housing, the rental option is beginining to look like a much better investment for the short term. In fact, I have noticed a huge surge in the number of renters, despite a decline in rates. Second, the lease rate decline has yet to be felt much. As leases begin to renew, a lot of home owners will be surprised, and perhaps distressed to find out that there investment will be making them 10% less this year than last. I think we still have some time before we see the abolute bottom. Of course, if you will be looking for anything long term, as I have said all along, the fundamentals for this area are absolutely great. Even as an investment when you consider that everything in America right now is declining.

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

22-25% Chance of SELLING home on area beaches! BUYERS are stealing beautiful homes all across the Wilmington area despite population BOOM!

noreply@blogger.com (Ralph "The House" Hunter) — Wed, 09 Apr 2008 15:52:00 +0000

Wilmington Area Real Estate Market and Trends Report...

22-25% Chance of SELLING home on area beaches! BUYERS are stealing beautiful homes all across the Wilmington area despite population BOOM! 40% of homes selling in Wilmington …

"The difference between death and taxes is death doesn't get worse every time Congress meets." --Will Rogers

Huge things are happening all over the Wilmington area. Perhaps the most interesting are the thousands of jobs being produced in the near future. Another huge facility is coming to the area. Having almost 1 million square feet, a proposed state of the art distribution center will be quite a site just 5 minutes outside of Wilmington . The developer is in the process of engineering the infrastructure now. The construction of this building alone will create an economic engine for the area. Once finished, the various tenants would undoubtedly provide hundreds, or thousands of jobs. In addition, it would bring high income relocations, tax benefits, and the main use, massive state shipping port additions to the area.

Also, FORBES released it's top 100 metro areas for business and careers, and the results were point blank startling. First of all, this laid back beach town is competing with the biggest cities in America for career opportunities? 5 NC cities in the top 50!! More than any other state in America . Wilmington was #38, and Raleigh was #1. That's fine by me, we have the beach. That also means that thousands of affluent buyers from Charlotte & Raleigh will want nothing more than a vacation home that's just 2 hours away. Despite an economic slowdown elsewhere, multiple national hotel chains are working on projects downtown, and on the beaches. Our tourist industry is also booming! As a native of Wilmington , one thing I have witnessed is how our tourist driven economic machine has always been buffered from the rest of the country's problems. Year after year, it has never really faltered. The more the corporate job market continues to grow, that will change, but you can bank on it for some time still. Unemployment in this area is still lower than the national average as well. I can literally go on for hours about the opportunities in the Wilmington area right now (ask my wife and friends), but I will save that for another time. With so much growth, it's obvious that the Wilmington area housing market will make an astounding recovery. I'm not only telling my clients this, I am also living it. Jenna and I are in the process of finding a new home. We will rent our current home, waiting for the return of a seller's market, then sell it. We are also going to use this year as an opportunity to buy a beach house. With the right plan, we believe we will be able to cover all of the expenses on both properties, with rental income, and tax savings. This also brings me to my next point, what's the #1 sign that our market is doing well? It's still easy to get property loans. Despite the media's portrayal of a locked down credit market, my client's have had no problems.

Buyers:

In light of so much negative publicity, I understand how it may be tough to make that decision to jump in, but let me pose a question. In these shaky economic times, what else are you doing with your money? Savings and bonds rates have been nearly wiped out by the Fed's recent rate cuts, and will continue to go down. Commercial real estate which historically follows residential, is now on the same track housing was. Commodities, precious metals, etc are demonstrating all the obvious signs of a bubble about to burst. Even blue chip stocks with low returns cause palpitations once a week these days. Even in the technology age, 2008 has shown little tech innovation. Bottom line, we are in a type of recession. It's scary to have cash in hand considering the fed prints more every day. The value of money right now is in serious jeopardy. The fundamentals of real estate however never change. When the population is booming, the job market is strong, and the supply of homes is well regulated, the path is clear. Despite all that, sellers are terrified. Many of them bit off much more than they can chew, and amazing deals are being forged. Donald Trump said, “This is the market where fortunes are made.” Also, with such a massive stimulus package meant for the hardest hit markets, wouldn't it make sense that this will create a boom in the markets that are still doing okay? You may be in a position where you want to buy, but have to sell your home first. No problem, consider this.

Sellers:

As I stated, selling in Wilmington right now is completely different than selling in other parts of the country. First of all, many parts of the nation have just begun to see tough times. In places lacking the fundamentals of strong jobs ( Ohio ), or supply regulation ( Miami ), expect to see major losses now, and for some time. If you get serious about your price and sell now, you may avoid a massive long term catastrophe. If your competition is at 200K, drop your price to 190K, then quickly to 185K if need be. In a declining market, it's going to happen eventually anyways right? Furthermore, when reduced to paper, it's usually clear that your expenses will wipe out gains from a higher price, considering your home will take longer to sell, and may be depreciating astonishingly fast. I see it all the time, one distressed seller can drop the value of an entire community 5% over night. While it may be a bad time for you to sell, it's also a bad time to sell in Wilmington . The difference, it won't be for much longer at all. You can typically find an equally good deal here, to what the buyer found in your home.

If you are selling in Wilmington , my advice is somewhat different unless you HAVE to sell, then that advice is even more important. As much as I think it is the time to buy, the inverse is true for selling. When considering selling, it's important to keep your emotions to a minimium. A good broker is the best way to do this.

With so much negative media, fear has become a driving force for many sellers. However, it's important that you not confuse risk with fear. By risk I am referring to your tolerance for further depreciation. Considering that anything is possible, if further depreciation is going to put you at great risk of foreclosure, or harming yourself, then that would warrant selling. However, if you are just afraid that you will lose money you don't absolutely have to have, you already did. Batten down the hatches, find a great renter for vacant homes, and thank me in the future by listing your home with me. What other broker would tell you that?

Now for the numbers.
Beach Property:

Carolina and Kure Beaches are still quite the buyer's market, although we are quickly working through the active inventory of homes. Down from nearly 1000 active properties just a few months ago, buyer's currently have about 700 homes to choose from. Also, in March of 2007, the average sold price of a 3 BR home was 369K, in March 08, a healthy 453K. Driven by larger high end properties, home prices still fell from this time last year though. Lower priced homes are selling better than more expensive homes. The average days on market also dropped from 205 in 07 to 120 last month. Wrightsville Beach is experiencing a different situation. Apparently the market in WB was the last to cool off in our area. Therefore they appear to be experiencing the absolute bottom. Only 6 properties sold in March of 08, opposed to 96 one year ago. The days on market also went up from 143 in 07, to 179 this year. I would expect to see a faster recovery here though, because there was less investor speculation on WB.

In the last 6 months on Carolina Beach , 22% of MLS listings actually sold. Kure Beach has seen 24% of it's listings sell, and Wrightsville Beach has sold 25% of it's listings in the last 6 months. That may sound bad to sellers, but consider that only a year ago those numbers were barely double digits.

Wilmington Property:

So far this spring has not been something to write home about. The inventory seems to be slipping, but the number of units sold is as well. We sold 136 units in March 08, compared to 294 in 07. The average days on market has risen just 9 days, and the average price dropped 30K from 07. Not the best numbers considering that it's the spring market. Seller's who aren't serious now, will probably be holding their homes for another year. This doesn't mean now is not the time to buy. Like the JP Morgan purchase of Bear Stearns, the deal is much more important than the timing. If you find the right home, there may never be a better time to buy.

Wilmington NC Population by Year Change Rate

2000 75,838 N/A

2001 90,084 18.78%

2002 90,620 0.60%

2003 91,419 0.88%

2004 93,371 2.14%

2005 95,476 2.25%

Vs. State Change Rate

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

Considering that only 50% of the brokers in our MLS region sold even one listing last year, I am proud to have sold well over 1 million dollars in2007

noreply@blogger.com (Ralph "The House" Hunter) — Wed, 09 Apr 2008 15:51:00 +0000

What's going on in my business...

Even though the market is still recovering at the moment, I have managed to stay busy working with buyers and sellers. Although my “pay per hour worked” has gone down quite a bit, (working more for less money) I can't complain. Considering that only 50% of the brokers in our MLS region sold even one listing last year, I am proud to have sold well over 1 million dollars in 2007. While it's nice to achieve a figure like that, I am well aware that production is a minor piece of the puzzle. Many brokers hire tons of assistants, pay for massive lead campaigns, then sell homes via quantity of leads rather than with quality of service. More importantly, I maintained my 100% customer satisfaction goal in 2007. I was able to do this by giving exclusive, personal attention to my clients. I like to think of myself as an investment advisor, rather than someone a client calls every 5 years or so. I love to discuss real estate strategy, often for my client's homes in other parts of the country.

Last year was really a huge year for me. I added several new features to help market my listings that are truly revolutionary, and have earned a huge response from buyers. As of now, I am the only broker in the area providing a virtual tour complete with a video walk through that makes you feel like you are in the home, a Google Earth flyover that feels like an aerial tour of the community, and 3D floor plans for certain listings. I also take my photographs very seriously, and have recently began experimenting with HDR photography which is meant to capture tones and levels a typical camera cannot.

2007 also brought one other major addition to my business. By chance, I began managing a few long term rentals for clients who wanted to wait for a better time to sell, and without much effort my rental business took off. I am currently managing quite a few rental properties, and have grown to really enjoy this aspect of the industry. Despite hearing horror stories from my colleagues about rentals, my policies, marketing, and virtual showings, supply me with a steady stream of excellent tenants, with excellent credit and references. The procedures that I learned from Caroline while managing vacation rentals, have served me well in my new ventures. If you know of anyone who may benefit from an excellent property manager, please keep me in mind.
Perhaps equally important, is the fact that I have carved out a niche in the Wilmignton area real estate market. Considering that so many of my clients are from out of town, I have taken technology and convenience to the next level. Many people are amazed to hear that I have listed, and sold homes having never met the homeowner. Even in this slow market, I have also managed to sell homes using just my revolutionary virtual showing. Whether it's presenting my listings in a way that makes buyers/renters have to see more, or giving buyers an aerial tour of nearby schools, parks, and beaches, my clients enjoy knowing that their investment is being well managed from every angle. My clients are typically looking for a broker who can keep them up to date on what's going on in a clear, convenient manor. Many of my clients love the fact that I have compiled many of my services into short easy to follow videos, that have made the traditional listing presentation obsolete. I will soon be moving to a paperless office in which all important documents will be hosted online where my clients will be able to login and view / print them at any time. My understanding of repairs, construction, rentals, sales, and just as importantly technology, is invaluable in this type of market. In this information age in which drastic changes are being forged in every industry, I found in 2007 that one of the most valuable things I can do for my clients is research. My flexibility to change is the number one way I have stayed ahead of my colleagues. The world has changed more in the last 10 years than in the 100 before that. Therefore, I constantly research what techniques are selling homes today. Considering that the internet is still very young, breakthroughs can occur over night. My clients don't have time to read hundreds of newsletters and blogs a month about trends and changes in the industry, and that is where I step in. Furthermore, I receive hundreds of solicitations a month for tools and methods of selling homes, and I consider each one so as to make sure I am doing everything I can for my clients.

John F. Kennedy once said: “Change is the law of life, and those who look only to the past or the present are certain to miss the future.”

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

Wilmington NC, Carolina Beach, Kure Beach, Wrightsville Beach, Southeastern NC, Wilmington, Wilmington Beaches, Wilmington Real Estate

This beautiful condo has everything you need for an amazing beach home. Very affordable, walking distance to beach, entertainment food and fun, and bo

noreply@blogger.com (Ralph "The House" Hunter) — Wed, 09 Apr 2008 15:50:00 +0000

Details
Address: 206 S Lake Park Blvd., Suite B3 Type: Residential Style: Single Story Bedrooms: 1 "Large Master Bedroom" Bathrooms: 2 "1 and 1/2 Baths" Size: 735 sq. ft. "Large 1 BR unit with Oversize Deck" Lot Type: Rectangular Year Built: 1982 "Well Cared for Comm." MLS®: 413858

Description
This beautiful condo has everything you need for an amazing beach home. Very affordable, walking distance to beach, entertainment food and fun, and boasts amazing views of the ocean. It's also only 2 blocks to the beautiful lake park in Carolina Beach. This unit makes a prime vacation rental, which will help cover a large portion of your costs. Nice large 1 bedroom unit with 1.5 baths. More than most other 1 bedroom units. Also enjoy the large oversized deck overlooking the Atlantic Ccean. Low monthly dues, MOTIVATED SELLER!

Highlights
▪ Ocean Views!
▪ Close to Boardwalk...(Food, Fun, and Entertainment)
▪ Close to Lake Park and Paddle Boats
▪ Amazing Rental Potential
▪ Prices at 3 year lows! Great Opportunity to buy a vacation home
Features
View
▪ Lake
▪ Ocean View
▪ Panoramic
▪ Park
▪ Water View

BIG Income producer!! It sleeps 5 comfortably. This units second floor location means less stairs, while still offering amazing views of the ocean.

noreply@blogger.com (Ralph "The House" Hunter) — Wed, 09 Apr 2008 15:44:00 +0000

Details
Address: 1311 S. Lake Park Blvd., Suite 24B Type: Residential Style: 3 Story Bedrooms: 1 "Also has an alcove bed." Bathrooms: 1 Size: 900 sq. ft. "900 Sqft 1 BR! Sleeps 5 Comfortably" Lot Type: Rectangular Lot Size: 0 acres MLS®: 413476

Description
This ocean front condo unit is the perfect beach property. It is in a very popular beach community, Sea Colony. This unit, and the community as a whole make great vacation rentals. BIG Income producer!! It sleeps 5 comfortably. This units second floor location means less stairs, while still offering amazing views of the ocean. Far enough away for peace and quiet, you can still walk to the commercial district for fun, food, and entertainment. The unit itself has nice appoitments, and move in ready. Fully furnished you don't need anything else to start enjoying this home. Call today. 910.262.8820Carolina Beach underwent a dramatic transformation during the 1990s. Once considered a wild party spot, it is currently evolving into a heavily residential community dedicated to creating a wholesome family environment. Recent years have seen the cultivation of improved services, pleasant landscaping, attention to zoning and tangible citizen action to make Carolina Beach an attractive visitor destination. The main business district is centered around an active yacht basin containing a large number of charter fishing boats and large excursion boats. The nearby Boardwalk area is undergoing revitalization and rebuilding in conjunction with the oceanfront Courtyard by Marriott Resort Hotel and several mixed-use condo/retail projects.Away from the seasonal bustle at the center of the city, Carolina Beach is a quiet community of about 5,000 year-round residents. That number jumps three to five times at the peak of the vacation season. The community is growing in appeal to both locals from Wilmington and newcomers from other areas for two big reasons: it isn't crowded yet and it's affordable. Many a Wilmingtonian has given Wrightsville Beach over to visitors for the summer in the past few years and turned to Carolina Beach for a quiet spot on the sand. " Insider's Guide."

Highlights
▪ Ocean front
Features
View
▪ Ocean View
▪ Panoramic
▪ Water View

Oceanfront 2 BR condo with unobstructed ocean views is the perfect vacation home, but it also generates great rental income

noreply@blogger.com (Ralph "The House" Hunter) — Wed, 09 Apr 2008 15:41:00 +0000

Details
Address: 1225 S. Lake Park Blvd, Suite 2A Type: Residential Style: Single Story Bedrooms: 2 Bathrooms: 2 Lot Type: Rectangular MLS®: 414301

Description
This oceanfront 2 BR condo with unobstructed ocean views is the perfect vacation home, but it also generates great rental income. Now you will finally be able to afford that beach condo you “want” with this unit's proven superior rental history. This unit is immensely popular because of it’s proximity to everything great in Carolina Beach. A nice stroll will take you to the Carolina Beach boardwalk where you will find fun, food, and entertainment. The Lake Park is also nearby where you can picnic, or try out the paddle boats. Just a couple of hundred yards away is the premier restaurant The Ocean Grill, which also features an ocean pier and tiki bar!! The unit itself is superior to most other condos on the island. Having been completed renovated recently, this unit doesn’t need a thing. Not even furniture or small appliances or dishes. It features beautiful custom cabinets, granite countertops with matching appliances, and ambiance lighting complete the kitchen. Sure to please the pickiest chefs. Beautiful hardwood floors are clean and classy. Stylish beach furniture, and great color make this a favorite choice for buyers and renters. Also enjoy the updated fixtures, and faucets throughout. The electric fireplace is a very nice touch, even in the summer. Hurricane shutters will give you piece of mind. Escape to the small private balcony off the master bedroom with a city view while your guests are in the living room. Also don’t forget the amazing ocean views from this second floor end unit with a large living room deck. Not too many stairs, but still beautiful views. Another great feature is the interior staircase leading to the unit. No more battling the elements up the stairs as with many comparables. This unit will NOT last long. Buyer’s bring us a reasonable offer and let’s make a deal.

Highlights
▪ Oceanfront with amazing views of Carolina Beach and the Atlantic Ocean.
▪ Short stroll to everything great about Carolina Beach
▪ Premier restaurant Ocean Grill with ocean pier and tiki bar just a couple of hundred yards away.
▪ Granite countertops, ambiance lighting, and custom cabinets in this beatiful kitchen.
Features
Interior Features
▪ Hardwood Floors
View
▪ Ocean View
▪ Panoramic
▪ Water View

Carolina Beach is a great place to build your dream home. Build up on our high, sheltered lot for unbelievable views of the Atlantic Ocean, marsh, and

noreply@blogger.com (Ralph "The House" Hunter) — Sun, 06 Apr 2008 15:47:00 +0000

Details
Address: 215 Virginia Ave Type: Residential Style: Single Story Lot Type: Rectangular Lot Size: 0.148 acres MLS®: 412009

Description
Come to the greatest place on earth. Carolina Beach is a great place to build your dream home. Build up on our high, sheltered lot for unbelievable views of the Atlantic Ocean, marsh, and Carolina Beach harbor. Use our home plans, or bring your own. Much higher than Florida Ave. properties. Priced to sell. It's a buyer's market! Pictures are a representation of possible views, they were taken from next door house. Property HighlightsOceanfrontElevatorProximity to Newly Renovated BoardwalkVery Popular LocationProperty DescriptionThis charming port city is located in the southeastern corner of North Carolina between the Cape Fear River and the Atlantic Ocean. Although not just a tourist town, Wilmington has become a popular destination because of its moderate, four-season climate, historic preservation district, annual events such as Riverfest and the Azalea Festival, and numerous championship golf courses. In addition, nearby Wrightsville Beach is a Mecca for sailors, surfers, sunbathers, beachcombers and seafood lovers. "Wilmington.net" Visit our website for links to the best web sites for information on the Wilmington Area, and more.

Features
View
▪ Intracoastal
▪ Marina
▪ Ocean View
▪ Panoramic
▪ Water View