Real Estate Information

Happy Monday! I can't believe it's only May and the first Tropical Storm has already been named. I don't think it's posing any major threat to our coast but I know some surfers who are very happy right now! I hope you had a wonderful weekend.

Economic news continues it's roller coaster ride. The S&P 500 and the DOW ended last week on a low note and the continued turmoil in Greece has investors continuing to worry. All that news coupled with the JP Morgan saga here, kept investors heavily vested in bonds which is good news for interest rates. Our local market continues to show signs of improvement. Unemployment is obviously still a concern but the low interest rates will hopefully continue to help the housing market both locally and nationally.

The Existing Home Sales report is due Tuesday followed by the New Home Sales report on Wednesday. We'll certainly be keeping an eye on those numbers.

The Spring/Summer season is in full swing. If you're considering a move. NOW, is definitely the time to do it. If you'd like a NO OBLIGATION consultation about your plans, just give us a call, 910-202-2546.

Have a great week!

After many years of driving by the annual Greek Festival held by St. Nicholas Greek Orthodox Church on S. College Road in Wilmington and thinking, “That sure looks fun,” I finally made it to the event this year. The Greek Festival has been running for 20 years and attracts about 20,000 people, growing by about 10% every year. All proceeds go to the church and local charities, this year’s charity partner being March of Dimes. From what I’ve seen in the past, the festival is hopping all weekend long, closing up around 10pm on Friday and Saturday night, and Sunday at 7pm.

Of course, whenever you go to festivals, you have to drag along some friends. So, my significant other, sister, her friend, and I all piled into my sister’s car and went to the Greek Festival on Sunday. We parked in the Kmart parking lot and took the free shuttle, a Wilmington Trolley, to the church, which greatly excited my sister who has always wanted to ride on one.

Access to the event was only $3 (that gave visitors access all three days – Friday through Sunday) . As soon as I entered the fence, I could tell that the food was the main highlight of the event. There was a large tent filled with eating tables and surrounded by multiple food tents were setup in front of the church. There were Greek spirits, Greek Pizza (not entirely sure how “Greek” this is), shish-kebobs, pastitsio, moussaka, spanakopita, tiropita, dolmathes, souvlaki…feeling a little lost with the Greek food names? I was too, but I already knew what I was getting before I got there – gyros! Lamb gyros (yee-ros) are my favorite Greek food, so we grabbed some (a chicken gyro for the non-lamb eater) and some Greek fries. They were delicious!

As we ate, we listened to Greek music performed by the band, Lazaros, and watched a wonderful dancing troupe performing traditional Greek dances. When they were done, all the little kids in the tent jumped up and danced in front of the stage. They were having a ball and the parents were getting a nice break!

Afterwards, we perused the booths of Greek collectibles and jewelry, and took a little tour of the interior of the St. Nicholas Greek Orthodox Church, which is beautifully decorated with murals of Christ and the Saints, large red and gold chandeliers, and stained glass windows. We stopped to listen to a speaker sharing a history of the Church and some beautiful hymns sung by some young people from St. Nicholas.

We missed the cooking demonstrations being held in the church and the pastries were basically all sold out when we arrived (mental note for next year – get there early!), but it was very enjoyable. Everyone had good things to say about it on the way home. I recommend visiting next year. You can keep an eye out for the announcements for next year’s festival at the St. Nicholas Greek Orthodox Church Greek Festival website.

Just another GREAT reason to live in Wilmington!

If you’re selling and buying in the same geographical area, it is beneficial to use the same real estate agent to buy a home and sell your current one. Here’s why:

1. It cuts your work in half. When you choose an agent to represent you in the buying process, you look for someone with experience negotiating, knowledge of the local real estate market, connections with vendors, and a communication style fit for you. Before choosing an agent, you talk to friends and family, receive some referrals, and thoroughly interview those agents to see if they meet your needs. If you need to list your home for sale, you have to go through that whole process again…that is, if you choose not to use your current agent, but why go through all the trouble? You could choose one agent (or team) that has all the traits you require to buy a new home and sell your current one.
2. Using the same agent allows for efficient planning. When you sell one home to buy another, you have to coordinate multiple deadlines, including: two due diligence dates, inspections, appraisals, underwriting deadlines, money transfers, closings, etc. By using one agent, you eliminate the potential for communication errors. Your real estate agent will have a clearer understanding of your needs and can plan accordingly to prevent delays in your closings.
3. There could be some financial benefits for you…especially if you agree upfront to use the agent for both transactions. Small charges occur throughout the real estate process and knowing that they’ll be helping you with two transactions makes it easier for the agent to be more lenient. Such financial benefits are case-by-case, but they do occur.

When interviewing real estate agents, be sure to discuss with them what they offer in terms of helping you buy AND sell, and try to choose the most aggressive agent. If you’re planning to sell in the Wilmington area, Melanie would love to take a look at your home and discuss your options. She can send you a FREE Market Analysis and sit down with you to explain her marketing plan. Give her a call at 910.202.2546 or send her a message through our Contact page.

If you are currently underwater and have a mortgage with Bank of America, you need to know about the new Bank of America relocation assistance program. Announced yesterday, Bank of America will provide between $2,500 and $30,000 in relocation assistance to homeowners who work with BoA to get a pre-approved short sale price. The money will be awarded after sale of the home and the amount will be calculated using the value of the home, amount owed, and other unspecified factors. In order to be eligible, the short sale must be initiated by the end of the year, BEFORE offers are received, and closed by September 26, 2013.

If you feel you qualify for this program or have any questions about the short sale process and what this announcement means, please contact The Cameron Team at (910)202-2546 or send us a message at our Contact page. Melanie is a Certified Short Sale Specialist with experience selling short sales. She would be happy to answer all your questions and help you sell your Wilmington area home.

Quote of the Week:

“Half of the failures in life come from pulling one's horse when he is leaping.”-Thomas Hood

Featured Home for Sale

200 Inland Greens Circle, Inland Greens

This week’s featured listing is a well-maintained townhome on a golf course lot. It has great views and the community takes care of pest control and yard maintenance. This is definitely a property to check out if you’re interested in low-maintenance living.

Welcome home to Inland Greens! Enjoy the great location, in the heart of Wilmington, close to Wrightsville Beach, Mayfaire shopping and restaurants, and I-40. This open floor plan boasts 2 bedrooms and 2 baths, a home office, and tiled sunroom that overlooks the future golf course. The bright entry way with ceramic tile, leads to the kitchen, which includes all appliances and looks into the large living area with vaulted ceilings and skylights. The fenced in patio and covered porch is on an end unit that provides plenty of privacy, while the 2 car garage comes complete with a freezer. Inland Greens community comes complete with salt water swimming pool, tennis courts and storage area for your RV or Boat! Don't miss out.

Visit the listing page for a full description and more pictures – 200 Inland Greens.
View other homes for sale in Inland Greens.

Listing Info Courtesy of The Chris Baynes Team, Coldwell Banker Sea Coast Advantage

In Case You Missed It

If you’re in Wilmington and noticed an increase in traffic last week, you may have wondered what was going on. Friday and Saturday were the graduations for the University of North Carolina – Wilmington. The university awarded 1,826 undergraduate degrees, 242 masters degrees and 6 doctoral degrees. So, traffic up and down College Road, and on adjoining streets became a bit of challenge as students, family, and friends attended ceremonies.

This past weekend was the first ever Battleship Splash, a dock diving competition for dogs held in Battleship Park. Over 60 pets and owners showed up to Battleship Splash to see which pups could jump the highest and furthest, and swim the fastest. This is a quickly growing sport in the U.S. and this particular event was organized by Jay Harris of Carolina DockDogs. All money made from the event went to dog charities.

On Tuesday, May 15, the development team of Flywheel, LLC and the Trask Land Company, Inc presented to Wilmington City Council a public and private financing proposal for a potential baseball stadium that would be built in Wilmington and be home to a minor league baseball team owned by the Atlanta Braves and managed by Mandalay Baseball Properties. The proposal projected a $33-36 million cost for building the stadium with the Atlanta Braves and Mandalay paying 1/3 of the debt. Flywheel and Trask would take out a 30 year loan to pay for the stadium with the city and Mandalay expected to pay on it. The development group would be fully responsible for the loan and be required to pay taxes on the land, which would be revenue for New Hanover County. After 30 years, ownership of the stadium would default to the city. The location of the stadium has not been announced and the council had little to say after the presentation, but National Sports Services, a third-party consulting company, is due to review the proposal and give their opinion on its viability for the city. Read more about the proposal at StarNews or WWAY 3.

Coming Up

5/17/12: Changing Lives through the Gift of Education - Schwartz Center
5/18/12 – 5/20/12: 2012 Greek Festival - St. Nicholas Greek Orthodox Church
5/18/12: Coastal Carolina Clay Guild Spring Show and Sale – Cameron Art Museum
5/18/12: Ladies of the Cape Fear 2012 – The Terraces on Sir Tyler
5/19/12: Big Print Block Party and Art Festival – Cape Fear Boulevard, Carolina Beach
5/19/12: The Cape Fear Chordsmen, barbershop group – UNCW Kenan Auditorium
5/22/12: Cape Fear Blues Jam – Rusty Nail
6/18/12-6/22/12: Model Train Camp - The Wilmington Railroad Museum

The Cameron Team

Melanie Cameron, Broker 910.233.2840

Susan Harkins, Buyer Specialist, 910.431.2362

Gina Martin, Buyer Specialist, 910.619.1987

Meghan Riley, Client Care Specialist, 910.202.2547

Diligently working to exceed real estate expectations in Wilmington, North Carolina, and surrounding areas including Ogden, Porters Neck, Wrightsville Beach, Carolina Beach, Castle Hayne, Leland, Burgaw, Rocky Point

Curious to know which communities had the most sales in April? They are listed below according to property type and county with the community owning the most sales being listed first. While this doesn't indicate that a property in a certain community will sell quicker than another (price, demand, and condition all determine that), it can be interesting to see which communities are having the most activity.

*Please keep in mind that there are homes not listed in communities that are also selling well. The Cameron Team can help you find the home that best suites your needs, no matter if it's located inside or outside a community. Just Contact us and we'll use our expert knowledge of the local real estate market to help narrow your search.

Happy Monday and Happy Mother's Day to all you Mothers. I didn't believe until I had kids that motherhood is the hardest and best job in the world!

Well, the numbers for April are in and we had a really strong month with numbers improving across the board in sold price, listings, sold units and median price. As of 5-11-12, our pending units was at 1,102 which means we have already exceeded 2011, 2010, 2009, and 2008 pending indexes. Definitely a good sign for our market. Our sold units (446) are up 1.1% from last month and up 13.8% over last April. The average sold price ($218,440) is up $12,428 from last month and the list to sale price ratio improved slightly over last month to 94.7%

Our current listing inventory has also seen an increase of 125 homes in our listing inventory. As of May 1st, we have 4,094 homes on the market which puts us at a 9.1 month supply of inventory, a slight increase from last month's 9 month supply.. We will probably continue to see the number of listings climb over the next couple of months over the summer selling season.

The average list price is $360,001 and our average days on the market decreased slightly to 156 days.

If you have particular questions about a home or neighborhood, just call or email and we're happy to check it out for you.

If you haven't already, check us out on Facebook, Google + and YouTube. Have a great week and remember The Cameron Team for all your real estate needs.

Melanie talks about the current Wilmington real estate market, if things are improving, and what you need to do to get your home sold.

Quote of the Week:

“Judge each day not by the harvest you reap but by the seeds you plant.”-Robert Louis Stevenson

Featured Home for Sale

325 Bradley Dr, Bradley Oak Condos

Our featured home this week is a 2300+ sqft condo in Bradley Oaks. Not only does it have some great features and amazing views of Bradley Creek, but it also has a 50 foot boat slip!

This is THE Premiere Bradley Oaks Condo. Sweeping views of Airlie Gardens and Bradley Creek offer a one of a kind view no other condo in the neighborhood enjoys. $147,000 has been invested in upgrades and maintenance inside and out making this condo a very well cared for home in move in condition. Compare the condition and view for the money and you will see why we think this is THE best waterfront value on the market! Many custom features including an expanded master suite w/Jacuzzi & separate shower. Open kitchen w/tile countertops & breakfast bar. Jenn Air appliances, Fabulous views of Bradley Creek from every room. The deep-water boat slip will accommodate a 50 ft boat, is located in a no wake zone and has double pilings. The patio has a beautiful Live Oak growing up through the deck and the Eastern exposure allows you to enjoy the hot summer afternoons looking out over the water in a shaded area with a breeze.

Visit the listing page for a full description and more pictures – 325 Bradley Drive.
View other homes for sale in Bradley Oak Condos.

Listing Info Courtesy of Sandy Monroe, Coldwell Banker Sea Coast Advantage

In Case You Missed It

Whole Foods, located at 3804 Oleander Drive, has announced its opening date as May 23. Wilmington’s Twitter Hashtag, #ILM, was buzzing with the news this past week. Locals are very excited to have the new natural and organic foods store in Wilmington. #ILM was also excited to see ground breaking at the site of the future Trader Joes.

For those of you not closely following the minor league baseball stadium news, the city has hired National Sports Services to research the feasibility of a stadium being built in Wilmington. This past week, they narrowed down potentials “areas” for the stadium and last night had the first of three public meetings on these locations. One development, Autumn Hall, has already removed itself from the list of potential building locations, because a stadium does not fit into the original plan for the neighborhood. However, six areas remain, including: downtown, Martin Luther King Jr. Parkway corridor, 17th Street corridor, College Road corridor, Eastwood Road corridor, and Oleander Drive corridor. Attendees at the public meeting voiced concerns about traffic, environmental impact near the river, and area features needed to support a stadium. The main concern remains to be funding and National Sports plans on getting financial proposals together next week.

Wilmington’s Front Street Brewery won a gold medal at the World Beer Cup in the Belgian and French Style Ales category for its Spring Brew. Called the ‘Olympics’ of beer competitions, about 800 breweries from 54 countries entered. That amounted to 3,921 beers in 95 beer categories with 211 international judges evaluating an average of 41 beers in each category. Winners were announced Saturday in Boulder, Colorado. If you’re in Wilmington’s downtown area, stop by Front Street Brewery at 9 North Front Street and have a nice sit down meal and a beer. Sadly, if you’d like to try the Spring Brew, you’ll have about a 6 week wait while brewer, Kevin Kozak, creates a new batch, but all their beers are great to try!

Coming Up

5/10/12: YWCA Women of Achievement – Hilton Riverside
5/11/12: Eagle Island Cruise – Wilmington Water Tours
5/12/12: Skateboard Clinic for Beginners - Greenfield Grind Skatepark
5/12/12: National Train Day - The Wilmington Railroad Museum
5/12/12: Lester Bibbs – Nutt Street Comedy Room
5/15/12: Cape Fear Blues Jam – Rusty Nail
5/17/12: Changing Lives through the Gift of Education - Schwartz Center
6/18/12-6/22/12: Model Train Camp - The Wilmington Railroad Museum

The Cameron Team

Melanie Cameron, Broker 910.233.2840

Susan Harkins, Buyer Specialist, 910.431.2362

Gina Martin, Buyer Specialist, 910.619.1987

Meghan Riley, Client Care Specialist, 910.202.2547

Diligently working to exceed real estate expectations in Wilmington, North Carolina, and surrounding areas including Ogden, Porters Neck, Wrightsville Beach, Carolina Beach, Castle Hayne, Leland, Burgaw, Rocky Point

In the area of Masonboro Sound is a pleasant community nestled among large mature trees and conservation preserves. The Park at Willowick is a quiet community surrounded by a relaxing walking trail and comprised of cul-de-sac streets lined with sidewalks and lamp post street lights. It’s located in the sought-after Hoggard School District and is a short drive from Carolina Beach, Wrightsville Beach, and Hugh McRae Park.

Stevens Fine Homes’ signature Craftsman style homes and their brand new European designs are the prizes of this community. Plans range from 1830 square feet to 3187 square feet and start at $199,900. Exterior features include low maintenance vinyl siding, double pane vinyl windows, 30 year shingles, and a concrete driveway. Interior features include chrome finished bathroom fixtures, brushed nickel and chrome finished light fixtures, ceiling fans in Master Bedroom and living area, vinyl and stain resistant carpet, hardwood flooring in entrance, wiring for security system, closet shelving, and a garage door opener. Rooms vary by plan. All homes are Stevens Energy Wise to conserve energy and help keep your utility bills low. Make an offer now and you can choose colors, options, and upgrades prior to build!

***The European Monticello plan featured in The Park at Willowick won the Gold Award during the 2012 Parade of Homes! If you would like to see why it won first place, just let us know! ***

View homes for sale in The Park at Willowick.

Please note that not all of the home sites are listed in the local MLS. If you would like more information about this community or are interested in viewing a property listed for sale, give us a call! We have sold many homes in the area and would be happy to help you find the perfect home or land for you. You can reach us at 910-202-2546 or you can email us through our Contact page.