Tina Abraham Broker, SRS, Realtor Wilmington North Carolina Real Estate

The Week in Review

.....your Wilmington Connection

November 23rd 2008

Chilly start to the Week...I would like to wish you and your Family a Happy Thanksgiving. Thanks is an expression of gratitude, not an expression of selfishness, which unfortunately, we have all gotten too accustomed of doing. ou know, we're in the 'Me Society.' It's all about me, me, me.

But as we draw to the Thanksgiving holiday, I trust that we'll all take a little time and reflect on all we have to be thankful for.

2.5 Million...to Dredge Intracoastal Waterway

U.S. Rep. Mike McIntyre's office on Thursday afternoon announced that $2.5 million has been secured for maintenance dredging of the Intracoastal Waterway.

The federal funds were included in the recently passed Consolidated Security, Disaster Assistance, and Continuing Appropriations Act of 2009.

President Bush had proposed less than $1 million for waterway dredging in North Carolina. The Army Corps of Engineers, which manages the waterway, received $5.5 million for dredging in the 2008 fiscal year, which ended Sept. 30.

"This is truly a blessing for public safety, emergency preparedness, tourism, our boating community and our marine businesses," McIntyre said in a release announcing the funding. "An open and navigable Intracoastal Waterway greatly contributes to a thriving economy, and I am thrilled these federal funds have come through!"

The release also states that the work will be centered in Brunswick County and start next month.

Titan Cement Plant

New Hanover County officials worked quietly for three years to lure Titan America LLC to Castle Hayne. When the news finally broke in April, county officials said the new cement plant would create jobs and send a positive ripple through the regional economy. But a growing number of concerned residents say the environmental price is too high. And they are preparing for a fight.

New Home Sales

Lost among the bank failures and resale downsizing has been the plight of new home sales and marketing companies. Once the high-flying benefactors of an explosion of new home sales, they now find themselves wondering where future closings will come from.

While there is excessive new home inventory at the moment, builders have withdrawn from the market and will not return any time soon. In regions with limited developable land, such as San Diego, they won't be back at all. Infill, multi-family, and urban redevelopment characterize a builder's options. They may not offer the economy of scale required by large builders nor the large promotional budget needed to support the infrastructure of a sales and marketing company.

For the most part, new home sales and marketing companies are paid for their expertise and act in a consultant's capacity, advising developers. At the moment, most of that advice is being directed toward lowering prices because, in reality, it doesn't matter how much traffic you generate if the traffic perceives the product as overpriced.

Generally, they are the organizations who coordinate the work of an ad agency, designer, and a public relations firm while also providing an on-site sales force. Compensation is usually a commission at closing and, possibly, bonuses for hitting certain milestones. In many ways, new home marketers aren't all that different from a resale real estate agent.

But, the perception is that new home sales and marketing companies are able to do things that individual real estate agents cannot. Advice on a print media ad campaign or directing public relations initiatives are their primary activities. Generating traffic to the sight and converting that traffic to sales are their objectives.

Obviously, the developer feels as though he hired the consultant to help him make a profit. But, with business dwindling, new home sales and marketing companies can be tempted to not be emphatic for fear of losing the account altogether. As a result, builders have been chasing the market down, compounding expenses and making sales even more difficult to close.

....until next week in The Week in Review

Tina

The Week in Review

.....your Wilmington Connection

November 23rd 2008

Chilly start to the Week...I would like to wish you and your Family a Happy Thanksgiving. Thanks is an expression of gratitude, not an expression of selfishness, which unfortunately, we have all gotten too accustomed of doing. ou know, we're in the 'Me Society.' It's all about me, me, me.

But as we draw to the Thanksgiving holiday, I trust that we'll all take a little time and reflect on all we have to be thankful for.

2.5 Million...to Dredge Intracoastal Waterway

U.S. Rep. Mike McIntyre's office on Thursday afternoon announced that $2.5 million has been secured for maintenance dredging of the Intracoastal Waterway.

The federal funds were included in the recently passed Consolidated Security, Disaster Assistance, and Continuing Appropriations Act of 2009.

President Bush had proposed less than $1 million for waterway dredging in North Carolina. The Army Corps of Engineers, which manages the waterway, received $5.5 million for dredging in the 2008 fiscal year, which ended Sept. 30.

"This is truly a blessing for public safety, emergency preparedness, tourism, our boating community and our marine businesses," McIntyre said in a release announcing the funding. "An open and navigable Intracoastal Waterway greatly contributes to a thriving economy, and I am thrilled these federal funds have come through!"

The release also states that the work will be centered in Brunswick County and start next month.

Titan Cement Plant

New Hanover County officials worked quietly for three years to lure Titan America LLC to Castle Hayne. When the news finally broke in April, county officials said the new cement plant would create jobs and send a positive ripple through the regional economy. But a growing number of concerned residents say the environmental price is too high. And they are preparing for a fight.

New Home Sales

Lost among the bank failures and resale downsizing has been the plight of new home sales and marketing companies. Once the high-flying benefactors of an explosion of new home sales, they now find themselves wondering where future closings will come from.

While there is excessive new home inventory at the moment, builders have withdrawn from the market and will not return any time soon. In regions with limited developable land, such as San Diego, they won't be back at all. Infill, multi-family, and urban redevelopment characterize a builder's options. They may not offer the economy of scale required by large builders nor the large promotional budget needed to support the infrastructure of a sales and marketing company.

For the most part, new home sales and marketing companies are paid for their expertise and act in a consultant's capacity, advising developers. At the moment, most of that advice is being directed toward lowering prices because, in reality, it doesn't matter how much traffic you generate if the traffic perceives the product as overpriced.

Generally, they are the organizations who coordinate the work of an ad agency, designer, and a public relations firm while also providing an on-site sales force. Compensation is usually a commission at closing and, possibly, bonuses for hitting certain milestones. In many ways, new home marketers aren't all that different from a resale real estate agent.

But, the perception is that new home sales and marketing companies are able to do things that individual real estate agents cannot. Advice on a print media ad campaign or directing public relations initiatives are their primary activities. Generating traffic to the sight and converting that traffic to sales are their objectives.

Obviously, the developer feels as though he hired the consultant to help him make a profit. But, with business dwindling, new home sales and marketing companies can be tempted to not be emphatic for fear of losing the account altogether. As a result, builders have been chasing the market down, compounding expenses and making sales even more difficult to close.

....until next week in The Week in Review

Tina

The Week in Review

.....your Wilmington Connection

November 23rd 2008

Chilly start to the Week...I would like to wish you and your Family a Happy Thanksgiving. Thanks is an expression of gratitude, not an expression of selfishness, which unfortunately, we have all gotten too accustomed of doing. ou know, we're in the 'Me Society.' It's all about me, me, me.

But as we draw to the Thanksgiving holiday, I trust that we'll all take a little time and reflect on all we have to be thankful for.

2.5 Million...to Dredge Intracoastal Waterway

U.S. Rep. Mike McIntyre's office on Thursday afternoon announced that $2.5 million has been secured for maintenance dredging of the Intracoastal Waterway.

The federal funds were included in the recently passed Consolidated Security, Disaster Assistance, and Continuing Appropriations Act of 2009.

President Bush had proposed less than $1 million for waterway dredging in North Carolina. The Army Corps of Engineers, which manages the waterway, received $5.5 million for dredging in the 2008 fiscal year, which ended Sept. 30.

"This is truly a blessing for public safety, emergency preparedness, tourism, our boating community and our marine businesses," McIntyre said in a release announcing the funding. "An open and navigable Intracoastal Waterway greatly contributes to a thriving economy, and I am thrilled these federal funds have come through!"

The release also states that the work will be centered in Brunswick County and start next month.

Titan Cement Plant

New Hanover County officials worked quietly for three years to lure Titan America LLC to Castle Hayne. When the news finally broke in April, county officials said the new cement plant would create jobs and send a positive ripple through the regional economy. But a growing number of concerned residents say the environmental price is too high. And they are preparing for a fight.

New Home Sales

Lost among the bank failures and resale downsizing has been the plight of new home sales and marketing companies. Once the high-flying benefactors of an explosion of new home sales, they now find themselves wondering where future closings will come from.

While there is excessive new home inventory at the moment, builders have withdrawn from the market and will not return any time soon. In regions with limited developable land, such as San Diego, they won't be back at all. Infill, multi-family, and urban redevelopment characterize a builder's options. They may not offer the economy of scale required by large builders nor the large promotional budget needed to support the infrastructure of a sales and marketing company.

For the most part, new home sales and marketing companies are paid for their expertise and act in a consultant's capacity, advising developers. At the moment, most of that advice is being directed toward lowering prices because, in reality, it doesn't matter how much traffic you generate if the traffic perceives the product as overpriced.

Generally, they are the organizations who coordinate the work of an ad agency, designer, and a public relations firm while also providing an on-site sales force. Compensation is usually a commission at closing and, possibly, bonuses for hitting certain milestones. In many ways, new home marketers aren't all that different from a resale real estate agent.

But, the perception is that new home sales and marketing companies are able to do things that individual real estate agents cannot. Advice on a print media ad campaign or directing public relations initiatives are their primary activities. Generating traffic to the sight and converting that traffic to sales are their objectives.

Obviously, the developer feels as though he hired the consultant to help him make a profit. But, with business dwindling, new home sales and marketing companies can be tempted to not be emphatic for fear of losing the account altogether. As a result, builders have been chasing the market down, compounding expenses and making sales even more difficult to close.

....until next week in The Week in Review

Tina

The Week in Review

.....your Wilmington Connection

November 23rd 2008

Chilly start to the Week...I would like to wish you and your Family a Happy Thanksgiving. Thanks is an expression of gratitude, not an expression of selfishness, which unfortunately, we have all gotten too accustomed of doing. ou know, we're in the 'Me Society.' It's all about me, me, me.

But as we draw to the Thanksgiving holiday, I trust that we'll all take a little time and reflect on all we have to be thankful for.

2.5 Million...to Dredge Intracoastal Waterway

U.S. Rep. Mike McIntyre's office on Thursday afternoon announced that $2.5 million has been secured for maintenance dredging of the Intracoastal Waterway.

The federal funds were included in the recently passed Consolidated Security, Disaster Assistance, and Continuing Appropriations Act of 2009.

President Bush had proposed less than $1 million for waterway dredging in North Carolina. The Army Corps of Engineers, which manages the waterway, received $5.5 million for dredging in the 2008 fiscal year, which ended Sept. 30.

"This is truly a blessing for public safety, emergency preparedness, tourism, our boating community and our marine businesses," McIntyre said in a release announcing the funding. "An open and navigable Intracoastal Waterway greatly contributes to a thriving economy, and I am thrilled these federal funds have come through!"

The release also states that the work will be centered in Brunswick County and start next month.

Titan Cement Plant

New Hanover County officials worked quietly for three years to lure Titan America LLC to Castle Hayne. When the news finally broke in April, county officials said the new cement plant would create jobs and send a positive ripple through the regional economy. But a growing number of concerned residents say the environmental price is too high. And they are preparing for a fight.

New Home Sales

Lost among the bank failures and resale downsizing has been the plight of new home sales and marketing companies. Once the high-flying benefactors of an explosion of new home sales, they now find themselves wondering where future closings will come from.

While there is excessive new home inventory at the moment, builders have withdrawn from the market and will not return any time soon. In regions with limited developable land, such as San Diego, they won't be back at all. Infill, multi-family, and urban redevelopment characterize a builder's options. They may not offer the economy of scale required by large builders nor the large promotional budget needed to support the infrastructure of a sales and marketing company.

For the most part, new home sales and marketing companies are paid for their expertise and act in a consultant's capacity, advising developers. At the moment, most of that advice is being directed toward lowering prices because, in reality, it doesn't matter how much traffic you generate if the traffic perceives the product as overpriced.

Generally, they are the organizations who coordinate the work of an ad agency, designer, and a public relations firm while also providing an on-site sales force. Compensation is usually a commission at closing and, possibly, bonuses for hitting certain milestones. In many ways, new home marketers aren't all that different from a resale real estate agent.

But, the perception is that new home sales and marketing companies are able to do things that individual real estate agents cannot. Advice on a print media ad campaign or directing public relations initiatives are their primary activities. Generating traffic to the sight and converting that traffic to sales are their objectives.

Obviously, the developer feels as though he hired the consultant to help him make a profit. But, with business dwindling, new home sales and marketing companies can be tempted to not be emphatic for fear of losing the account altogether. As a result, builders have been chasing the market down, compounding expenses and making sales even more difficult to close.

....until next week in The Week in Review

Tina

The Week in Review

....your Wilmington Connnection

November 15, 2008

Currently their are 2809 homes on the market with 243 under contract and a total of 1401 solds in the last 6 months. Interest rates are still low so its still an optimal chance to buy. Why wager on the stock market that appears to be so unreliable. If you would like any info regarding what your home may be worth please feel free to fill out the CMA form here and I will give you an up to date market analaysis.

Construction halted on two Brunswick County developments

One of the state's largest community developers has stalled construction on two developments in southwestern Brunswick County, leaving municipal officials wondering if they'll ever see the tax base there grow.

Wakefield Development Co. has stopped building at San Rio Ocean and River Club in Shallotte and Kingfish Bay in Calabash, said Jim Wiseman, project manager and senior vice president of the company's coastal division.

"We are in a maintenance mode as we negotiate with our lenders," Wiseman said of San Rio, which is planned to be a gated resort-style community with a Caribbean theme off of Gray Bridge Road.

Original plans for that development called for more than 2,000 single-family homes, townhomes and condos. The properties had been projected to be worth more than $800 million and would generate $3 million to $4 million in local revenue to the town of Shallotte.

But only a partially constructed model house stands on the property, said Shallotte Town Administrator Paul Sabiston.

He said the town expected to see at least a handful of houses there already.

The town and the developer have disagreed before about plans for the community and the town's regulations, but Sabiston said he hasn't heard much from the developer lately except for a notice that Wakefield was renewing its bond for phase three of the development.

What will it take to get consumers back to buying:

Financing remains one of the biggest issues for both buyers and sellers. As long as mortgage credit is not widely available, the demand for real estate purchases will remain low.

In addition to facilitating selling of distressed properties and nonperforming loans to buttress the capital base of lenders, government must have an active role in ensuring that mortgage credit is available. FHA, as well as Fannie Mae and Freddie Mac, have jumped in aggressively to fill the void. Still, there are gaps in the product mix in the market and many consumers are being left behind. For instance, many minority and immigrant borrowers lack traditional credit history but can demonstrate payment patterns related to rent, phone, utilities and so on. A new provision within the FHA bill includes the development of an automated underwriting solution for alternative credit borrowers to ensure that individuals with consistent but alternative credit history can get a fair priced loan. This has huge importance to minorities that are otherwise in a position to buy now.

What is happening in the market locally and how is the national discussion about real estate affecting that?

Many parts of the Wilmington real estate market's long decline began to slow this summer, but the overall financial market meltdown and the economic slowdown have triggered additional fallout locally. The implementation of the federal Emergency Economic Stabilization Act will have a far-reaching impact on the recovery. If implemented well, the new law will help to stabilize the market, reduce the number of foreclosures and rebuild confidence in the housing market. We need to keep people in their homes. It is critical that those affected by the crisis are given an opportunity to recover by getting a loan that they can afford and keep.

....until next week in The Week in Review

Tina