General Market Observations:
We’ve been busy showing homes and writing contracts. The phones are ringing; we’re receiving 1000+ website hits a day, and our REALTOR.com traffic has spiked!

Strong showing activity continues in single-family neighborhoods, as well as ocean front and ocean view properties. Highlights include the PENDING sale of a new 4BR / 3BA ocean front in Kure Beach. There is increased activity on new construction projects; and continued interest on short sales and foreclosures.

In Wilmington, we are seeing move-up buyers; at the beach we are working with a lot of folks from Raleigh/Cary, Ohio, New York, Virginia and Maryland. buying second homes or relocating.

I have a new report titled “Pricing It Right.” This brief report will tell you how to price your home, so it sells at the best possible price. It is VERY helpful. Please call me if you are interested in receiving it.

As a Coastwalk Real Estate VIP Buyer, we want to help you get the best results. To do that, we’ve developed a system guaranteed to consistently help save time and money. It’s important that you follow these steps so that we can help you make the best and most informed decisions.

Success Steps:
1. Regardless of whether you have a lender in place, it’s important that you select the best financing program that will help you minimize costs while meeting your short and long-term cash-flow need. To accomplish this, we will be setting up a free 20 minute coaching call within the next 48 hours with our preferred lender so that she/he can provide you with valuable tips to help you make better and more informed financing decisions while understanding your unique needs. Please keep in mind that the meeting is absolutely free and there is no obligation.

2. In addition, within the next 48 hours, we will also turn on the Automated Buyer Profile System to provide you with priority access to homes that match your preferences. As part of your Homework ,we request that you review all opportunities sent to you each day for the next 5 days. At the end of each day, select the top homes that seem to best match your preferences . For each of the homes, please write down five of the top reasons you like the homes and send us the information.

3. In order to optimize your results it is likely that we will need to refine your search criteria so that you are not missing out on opportunities or wasting time on homes that don’t match. To accomplish this we will be conducting FIELD WORK. During this time, we will ask you to select your top 6-10 homes out of the list you identified earlier in the week. We will setup a time during our initial meeting to view each of your top pick, allowing us to gather your feedback and refine your search if necessary. This process will continue each week till your search provides a home of interest.

Wilmington, NC:
In Wilmington, real estate activity this past week slowed, after having been very busy last week. Our RELOCATION partner has sent us several RELOs, so it’s nice to see companies expanding their presence in the Wilmington area!

Wilmington saw 44 properties placed PENDING this week with several in the $500,000+ range, however most were single family homes between $150k - $300k These contracts consist of 37 homes, 4 condos and 3 parcels of land. With regards to SALES, this week Wilmington saw 56 closings, compared to 68 last week. The majority of these sales were in the $100k - $300k range, but we two at $1,000,000+, which is a nice sign for our higher-end home market. Year-to-date there are 1,316 total SALES in Wilmington, compared to 964 at this time last year. This is a healthy increase, although the average sales price has declined. Currently there are about 2,130 homes for sale, 320 condos for sale, and 770 parcels of land for sale. The highest price of a home is offered at $5,200,000.

Carolina Beach, NC:
There are a lot of folks in town this past week, and showing activity picked-up. I noticed more appointments on ocean front properties, homes in the $300k price range, and in Carolina Sands.

In Carolina Beach, we saw 6 properties placed PENDING this week with list prices from $124,000 to $315,000. All 6 were homes or condos, no parcels of land this week. 3 of the 6 were bank-owned properties. With regards to SALES, this week Carolina Beach had 4 closings, with sales prices ranging from $137,000 to $345,000. The average sales price was at 88.9% of the listing price. Two of the properties SOLD within 97% of asking price, the other two had larger discounts. It goes to show how important an accurate listing price is. The days on market ranged from 42 days to 344.

Year-to-date there has been 135 total SALES in Carolina Beach. This is up form 114 last year at this time, however the average sales price has decreased. Currently there are 114 homes for sale, 285condos for sale, and 133 home sites for sale. The highest price of a home remains at $2,599,900.

Kure Beach, NC:
In Kure Beach, real estate showing activity also picked-up this week. I had nice activity on my higher-end listings, those in Seawatch, Kure Beach Village and home sites in Live Oak Village.

Although we had an increase in showing activity, we saw only two properties placed PENDING; a home in the $400’s and a duplex near $300k. I imagine we will see a an increase in PENIDNG contracts these next few weeks as a result of our recent activity. With regards to SALES, this week Kure Beach had 2 closings, both of these were newer duplexes, with sales prices of $315k and $410k. These homes SOLD for 91% and 97% of the list price, and both were on the market for 6+ months. For more detailed information on PENDING home sales please feel free to contact me.

Year-to-date there has been 49 total SALES in Kure Beach, compared to 43 YTD in 2009. Currently there are 74 homes for sale, 44 condos for sale, and 47 home sites for sale. The highest price of a home remains at $1,995,000.