You know you’re entitled to a free credit report from each of the three U.S. credit bureaus each year (go to: www.annualcreditreport.com).  Now you can get more insight into the lending process.  As of July 21, 2011, if

you get turned down or don’t get the best terms on a loan, credit card or insurance policy due to your credit score, you must be shown the score used to judge you.   

The five new required disclosures are:

• Ø Your credit score.
• Ø The range of possible credit scores under the model used to generate    the score.
• Ø The key factors (at least four) that adversely affected your credit score in the model used.
• Ø The date on which the score was created.
• Ø The name of the person or entity that provided the credit score.

To learn more about credit scores, go to the FICO web site at www.scoreinfo.org.

You probably think it won’t happen to you but weather research indicates over 500 people are struck by lightning each year.  When you’re outside and a storm comes up, as soon as you hear thunder, there’s an immediate lightning danger.  Protect yourself by knowing the myths from the facts.

Myth:  If you’re caught outside, you should lie flat on the ground.

Fact:    Lying flat increases your chances of being affected by dangerous

ground current.  Keep moving towards a safe shelter (not the nearest tree or tower).  If you absolutely can’t get to shelter, make yourself into a ball.

Myth:  Lightning never strikes the same place twice. 

Fact:    Lightning can strike the same place repeatedly.  The Empire State

             Building is hit nearly 100 times a year.

Myth:  If you touch a lightning victim, you’ll be electrocuted. 

Fact:    Lightning victims are safe to touch.  Call 911 and do not delay CPR.

Myth:   Rubber tires protect you from lightning.

Fact:    When lightning strikes a car, it travels through the metal frame into the

       ground.  Most cars are safe, but convertibles, motorcycles and

 bicycles aren’t.

Myth:  You are completely safe from lightning if you are in a house.

Fact:    You are safe in a house, but anything that conducts electricity isn’t,

 including water. To help protect your TV, computer and appliances,

 invest in individual surge protectors and consider hiring an

       electrician to install one on your home’s service panel.  Know that it

       doesn’t have to be a direct hit to do damage; a lightning bolt can fry a

 home’s electric lines indirectly from as far as a mile away as the

 electrical surge travels through pipes, wires, water, trees, buildings

 and the ground.

Q.  What is a CLUE report? 

A.  The Comprehensive Loss Underwriting Exchange (CLUE) is a national insurance industry database of personal property claims. Insurance companies use it to underwrite or rate new policies. Whether you are selling or buying a home, you should talk to your REALTOR^® about obtaining the report, which reflects the insurance claims history (up to seven years) on the property.  Here are the benefits:

• Sellers.  If you order the report before listing your home, you can check it for accuracy and be aware of any problems you might have in selling.  A clean report, which you can make available to potential buyers, can be a good selling point.  

• Buyers.  Seeing the report eliminates any “surprises” (water or fire damage, mold etc.) that may affect the cost and availability of getting homeowners insurance on the property.  The report, which is protected by the Fair Credit Reporting Act, can only be accessed by the owner, insurer or lender for the property, so you will need to ask for it.   

If you have any questions, or need capable and trustworthy representation, please call me at 910-352-0998.

There are many factors that affect our current housing market in a positive fashion today such as the 30 year fixed mortgage rates near historic lows of 4.52% (Freddie Mac-7/21/11).  The NAR’s housing affordability index has reached its highest point during 2011. Current release   Most importantly the pent up demand- the addition of about 3 million in population should assist in the rise in home sales.  Demand is picking up considerably for properties in coastal locations.  Coastal properties tend to be second-or-third-home purchases, so there was very little demand last year due to the uncertain economic climate. This year, however, there’s noticeably more activity, and several of our clients are interested in buying either on or near the coast.  One particular coastal area is situated at the southern end off the coast of southeastern North Carolina; the Town of Topsail Beach is the smallest of the three communities located on the 26-mile long island. North Topsail Beach occupies the northernmost section, and Surf City, the largest town on the island, is in the center. The Island is just off US Highway 17, about half-way between Wilmington and Jacksonville. More information on this beautiful place can be found at North Topsail Beach, Surf City, Topsail Beach

Most importantly how are these coastal cities fairing in our real estate market today?  According to Truilia starting with Topsail Beach the median sales price for homes in Topsail Beach for Apr 11 to Jun 11 was $575,000 based on 1 home sale. Compared to the same period one year ago, the median home sales price increased 0%, or $575,000, and the number of home sales increased 0%. There are currently 93 resale and new homes in Topsail Beach. The average listing price for homes for sale in Topsail Beach was $563,393 for the week ending Jul 27. The median sales price for homes in North Topsail Beach for Apr 11 to Jun 11 was $362,500 based on 1 home sale. There are currently 315 resale and new homes in North Topsail Beach including 7 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in North Topsail Beach NC was $429,720 for the week ending Jul 27, which represents an increase of 2.3%, or $9,815, compared to the prior week. Last the average price per square foot for Surf City was $256, an increase of 27.4% compared to the same period last year. The median sales price for homes in Surf City NC for Apr 11 to Jun 11 was $400,000 based on 23 home sales. Compared to the same period one year ago, the median home sales price increased 16.4%, or $56,500.  There are currently 362 resale and new homes in Surf City including 3 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Surf City NC was $378,268 for the week ending Jul 27, which represents an increase of 0.4%, or $1,650, compared to the prior week.

Where’s the silver lining?  Lower interest rates mean real estate just went on sale!  In the stock market you want to buy when the market is low and real estate is no different.  Right now home prices have fallen, rents are rising and mortgage rates are at historic lows.  That is what you a call a buyer’s market.  Even in slow markets great deals are out there but they move quickly. If you want a great deal you need to put yourself in a position to get a great deal.  Our local area including Topsail Beach is showing signs of improvement and demand.  The year 2011 presents us with a housing opportunity that makes it the most affordable in generations. So if you’ve ever wanted to own a beach property now is definitely the time to buy.

Pending home sales increased in June following a wide swing down in April and then up in May, according to the National Association of Realtors®. Activity increased in the West and South but declined in the Midwest and Northeast; all regions show strong double-digit gains from a year ago.  The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 2.4 percent to 90.9 in June from 88.8 in May and is 19.8 percent above the 75.9 reading in June 2010, which was the low point immediately following expiration of the home buyer tax credit. The data reflects contracts but not closings. Lawrence Yun, NAR chief economist, said there may be some increase in closed existing-home sales. “For the majority of transactions, the lag time between pending contacts to actual closings is one to two months. Therefore, the two consecutive months of rising activity should lead to overall improvement in closed sales in upcoming months,” he said. “Though a higher than normal cancellation rate can hold back final closing figures, it could well be that some past cancellations are nothing more than delayed buying decisions rather than outright cancellations.” 

The report out July 28^th indicated the south has seen an increase in sales.  We see that on Pleasure Island, where we’ve increased by 30% this year thus far.   An example to this is that we started this year off with over 70 foreclosures between Carolina and Kure Beach.  Currently there are 24 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process in Carolina Beach and only 6 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process in Kure Beach.  This is a definite decrease since January.  Some other Real Estate statistics in Carolina Beach is there are currently 469 resale and new homes for sale according to Trulia.  There are currently 130 resale and new homes in Kure Beach.  The average listing price for homes for sale in Carolina Beach NC was $329,010 for the week ending Jul 27, which represents a decrease of 1.3%, or $4,375, compared to the prior week. In Kure Beach we see an increase with the average listing price for homes for sale in Kure Beach NC was $557,122 for the week ending Jul 27, which represents an increase of 3.9%, or $20,714, compared to the prior week.

Wow, it’s good to see the market up and sales jumping in our area.  It also means it’s a great time to sell and buy!  Even with all the bad news headlines consumer confidence increased along with consumer spending.  The urgency on this market is the interest rates.  With inflation being held in check, home prices normalized and the rates will eventfully begin to creep up.  We are about a point lower than a year ago.  So if you’re thinking of buying or selling now is the time, these rates should create urgency in your decision!

Brunswick County is referred to as "The last hidden gem on the east coast".  The South Brunswick Islands are centrally located between Wilmington, NC and Myrtle Beach, SC in the Southwestern portion of Brunswick County, NC. This area features several unique areas including golf course communities, mainland waterfront communities, and our beautiful barrier islands, which encompass the areas of Holden Beach, Ocean Isle Beach, Sunset Beach, Calabash, Carolina Shores, and Shallotte. Visitors enjoy the southern hospitality and the freshest seafood around when in the area, which leaves them coming back for more year after year. Often long time vacationers decide to move their family and their business to the area.  This has made the area one of the fastest growing counties in the nation.  Despite the growth, Brunswick County remains home to quiet communities, perfect to retire or raise a family.

Looking at Real Estate in Brunswick County and you can see why it’s growing; there are some great deals to be found.  For example on Truilia the average price per square foot for Shallotte was $53, a decrease of 32.9% compared to the same period last year. The median sales price for homes in Shallotte for Apr 11 to Jun 11 was $40,000 based on 7 home sales. Compared to the same period one year ago, the median home sales price decreased 50%.  There are currently 438 resale and new homes in Shallotte, including 16 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Shallotte NC was $236,507 for the week ending Jul 20, which represents a decrease of 1.1%.   In Calabash the average price per square foot was $85, a decrease of 20.6% compared to the same period last year. The median sales price for homes in Calabash for Apr 11 to Jun 11 was $130,000 based on 9 home sales. Compared to the same period one year ago, the median home sales price decreased 26.6 , or $47,000.  There are currently 546 resale and new homes in Calabash, including 11 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Calabash NC was $192,244 for the week ending Jul 20, which represents a decrease of 0.7%.  One last example of area statistics is for Ocean Isle Beach where the average cost per square foot was $178, a decrease of 10.6% compared to the same period last year. The median sales price for homes in Ocean Isle Beach for Apr 11 to Jun 11 was $246,000 based on 5 home sales. Compared to the same period one year ago, the median home sales price decreased 35.3%.  There are currently 847 resale and new homes in Ocean Isle Beach, including 7 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Ocean Isle Beach NC was $414,974 for the week ending Jul 20, which represents a decrease of 2%.

Because prices are low and interest rates have fallen it's a good time to purchase anyway but at this time there are plenty of properties available for the best selection. The Brunswick County area is always prime property that's highly desirable and for good reason. Who wouldn't want to wake with a beautiful sunrise every morning and relax to the sound of the surf? This area’s not just a great place to live or vacation but it offers all the amenities of a larger vacation area but still has that small town feel.  Since we’re in the full swing of the selling and buying season if you ever daydreamed about purchasing beach area real estate now is the time to get your head out of the clouds.  More homes are on the market than at any other time due to school summer vacations. This is a prime time to sell, buy, get moved and settled by the time school starts up again in the fall.  If you want additional information on the area The Brunswick County Chamber of Commerce offers a variety of services for visitors, businesses and residents.  For Real Estate listings and full service in this area and surrounding beaches visit http://www.coastwalkrealestate.com. 

Do you get eight hours of sleep a night?  Probably not.  Lack of sleep affects your heath, ability to perform your job, attitude and safety (slow response time causes car accidents).  A glass of warm milk may help, but here are some other ideas you may not have thought of:

¨    Turn off the gadgets.  Light-emitting TVs, smart phones and computers can suppress sleep-inducing melatonin.  Don’t take your iPad to bed! 

¨    Buy a new mattress and the right pillow.  If you’ve had your mattress more than 7 years, it’s no longer giving you the support you need.

¨    Eat a healthy diet that includes cherries (they contain melatonin); bananas (potassium and magnesium) and oatmeal (it raises blood sugar naturally).  Avoid smoked meats, chocolate (caffeine!), energy drinks (no Red Bull), spicy foods (heartburn) and alcohol (it dehydrates you).  Try natural sleep remedies such as 30-120mg of wild lettuce or hops, or 200 mg of valerian.

¨    Exercise during the day.  Commit to 30 minutes of moderate cardio activity five days a week, but don’t do it within two hours of bedtime.  At least 10-15 minutes before bedtime, try practicing such techniques as yoga, meditation, visualization and mindfulness. 

¨    Be aware of these sleep myths:

• You can make up for lost sleep on weekends.  Doing that only upsets your biological clock and prevents deep sleep. 
• Older people need less sleep.  They often get less sleep due to more physical ailments.  They need naps to make up for sleep loss at night.
• The main cause of insomnia is worry.  Worrying can keep you awake (set aside time after dinner to make a “to do” list, plan your next day and try to release yourself from your worries), but persistent insomnia may be caused by medications, depression, or a sleep disorder.  If you can’t sleep, talk to your doctor or get more information at a site such as www.sleepeducation.com.   

Earlier this week, a New York Times/CBS News poll reported that nearly nine in 10 Americans say home ownership is an important part of the American Dream. In a recent National Association of Home Builders survey, 73 percent of respondents said they believe the federal government should provide tax incentives to promote home ownership.  Numerous studies have shown the value Americans place in home ownership. According to the 2010 NAR Profile of Home Buyers and Sellers, first-time buyers most often cite the desire to own a home as the primary reason for their recent home purchase. Eighty-five percent of all recent home buyers consider a home purchase a solid investment, and 76 percent of them believe owning a home is as good as or better than an investment in stocks.  Studies also demonstrate tangible social benefits to home ownership. The NAR report, Social Benefits of Homeownership and Stable Housing, showed that home owners are more active in their communities, benefit from improved education opportunities, and report higher levels of self-esteem and happiness when compared to renters. The U.S. Census Bureau reports that owners do not move as frequently as renters, providing more neighborhood stability. In turn, involvement in community quality-of-life issues helps prevent crime, improve childhood education and support neighborhood upkeep.

What about the local beaches of Carolina and Kure how is our market trending this past week?  According to Truilia the average price per square foot for Carolina Beach was $179, a decrease of 9.6% compared to the same period last year. The median sales price for homes for Apr 11 to Jun 11 was $210,000 based on 54 home sales. Compared to the same period one year ago, the median home sales price decreased 13%, or $31,500, and the number of home sales decreased 51.4%. There are currently 448 resale and new homes in Carolina Beach including 23 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale was $342,818 for the week ending Jul 05, which represents a decrease of 0.7%, or $2,479, compared to the prior week.  On Kure Beach the average price per square foot was $199, an increase of 1.5% compared to the same period last year. The median sales price for homes for Apr 11 to Jun 11 was $326,000 based on 13 home sales. Compared to the same period one year ago, the median home sales price decreased 2%, or $6,500, and the number of home sales decreased 31.6%. There are currently 132 resale and new homes in Kure Beach including 6 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Kure Beach was $527,608 for the week ending Jul 05, which represents an increase of 1.4%, or $7,251, compared to the prior week.

 Are homes selling now in this recession?  The answer is yes.  People still want a piece of the American Dream.  Owning a home has long-standing government support in this country.  Historically, lawmakers have understood the value of homeownership in fostering communities, creating social stability, and building wealth over the long term. In fact, Franklin Delano Roosevelt said, ‘A nation of home owners is unconquerable.’

Thursday was a different kind of day for Wilmington. It was when a real estate research firm said the area’s home prices actually rose, even when counting so-called distressed sales – foreclosures, short sales and bank-owned property.  CoreLogic reported that home prices that included distressed sales rose 0.24 percent in April compared with April 2010. That followed a decline of 1.6 percent in March.

But excluding those homes, prices rose 3.75 percent in April compared with a year earlier.

That was three times better than North Carolina as a whole, where homes prices, excluding distressed sales, rose 1.4 percent in the CoreLogic Home Price Index.  The CoreLogic index includes New Hanover, Pender and Brunswick counties.  The Wilmington-area figures were part of a national index that showed home prices are still 7.5 percent lower than April 2010, when the first-time home buyer tax credit was in place.  National prices did, however, rise from March to April – the first month-over-month increase since the middle of last year, CoreLogic said.

Where do we see this increase in the Wilmington area?  Take a look at Wrightsville Beach where the increase is evident by the trends of last week on Truilia.   The average price per square foot for Wrightsville Beach was $501, an increase of 12.1% compared to the same period last year. The median sales price for homes in Wrightsville Beach NC for Apr 11 to Jun 11 was $330,000 based on 13 home sales. Compared to the same period one year ago, the median home sales price decreased 51.1%, or $345,000, and the number of home sales decreased 35%. There are currently 196 resale and new homes in Wrightsville Beach, including 1 home in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Wrightsville Beach NC was $1,081,349 for the week ending Jun 29, which represents an increase of 0.1%, or $778, compared to the prior week.  The data here shows home prices in this area of Wilmington have indeed increased.

Since most Americans still believe that owning a home is a solid financial decision, and a majority of renters aspire to home ownership as a long-term goal. According to the 2011 National Housing Pulse Survey released today by the National Association of Realtors®, 72 percent of renters surveyed said owning a home is a top priority for their future, up from 63 percent in 2010.  With this information we know that buyers are looking for a great deal and sellers are offering that right now.  Is it time to buy?  Yes, according to the National Association of Realtors® pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year.  Lawrence Yun, NAR chief economist, said the improvement bodes well for home prices.  With housing values continuing to fall and mortgage interest rates at record lows, this has to be the best time in decades to buy a property.