Brett Knowles

Coldwell Banker Sea Coast Merges...

2010-08-18T17:37:00.002-04:00

Wilmington Mayor Bill Saffo said he chose to merge Hanover Realty with Coldwell Banker Sea Coast Realty because Sea Coast’s size and brand gives him a better reach.

“We think this was the right move at the right time,” Saffo said. He owned Hanover Realty with his wife Renee. The announcement was made at a breakfast event held Tuesday with more than 300 agents from Coldwell Banker, Hanover Realty and Stevens Fine Homes.

Hanover Realty had exclusive sales agreements on three Stevens Fine Homes communities: Mallory Creek Plantation and Grayson Park in Brunswick County and Willowick in the Masonboro Sound area in Wilmington. Those now appear behind Sea Coast signs.

Mayor Saffo said the merger doesn’t change how much time he will spend with the company and, therefore, as the mayor. “My workload will not change,” he said.

He also said no money changed hands in the transaction.

“We’ve been thinking about it for quite some time,” he said. Hanover Realty was the city’s oldest real estate company, he said. Coldwell Banker Sea Coast Realty is the city’s largest by almost every statistical measure.

Sea Coast President Tim Milam said the merger is a good one for his company because it puts Coldwell Banker signs in front of more homes in the community that his agents will be proud to represent.

Saffo said Hanover has about 15 agents and they will decide individually if they want to come to Sea Coast. Hanover had about seven more agents who were working exclusively with Stevens Fine Homes new communities.

Hanover Realty was founded in 1965. The company’s agents sold 69 properties for about $16 million so far this year, according to a release.

The merger also is a good deal for Craig Stevens of Stevens Fine Homes, which now gives his homes in three more communities a much more expanded network of agents and marketing presence. “We believe [this] will increase traffic at our communities and ultimately lead to more sales for our company,” he said in a release.

~Greater Wilmington Business Journal
August 18, 2010

2010-07-12T16:05:00.000-04:00

Coldwell Banker Sea Coast Realty is making the home buying process easier than ever before by offering “one stop shopping” for the best in real estate services, home loans, and now, insurance.“I am very excited about the addition of RealMark Insurance,” says Sea Coast Realty president Tim Milam. “I have wanted to do this for years.”RealMark Insurance agency will operate from within Coldwell Banker Sea Coast Realty’s Wilmington, N.C. office, making it easy for clients and associates to get help with all their insurance needs.Milam adds that, “by offering valuable services, such as American Home Shield Warranty, Beacon Title Insurance, Alpha Mortgage at Sea Coast, and now RealMark Insurance, Sea Coast Realty is able to service its clients with more options than any other real estate company in the area.”RealMark Insurance offers home, auto, life, health, personal, commercial, and other insurance policies. “We work with multiple companies, so that we can shop around and get our clients the best deals,” says Cathy Bason (pictured with Milam), RealMark Insurance’s agent at Sea Coast Realty. Bason is uniquely suited to understanding the needs of Sea Coast associates and clients. Before becoming a licensed insurance agent, the North Carolina native and UNC-Chapel Hill graduate, practiced real estate in Pinehurst.Since the partnership began just days ago, several Coldwell Banker Sea Coast Realty clients have saved money on insurance with RealMark Insurance. To find out how RealMark Insurance can save you money on your insurance, contact Brett Knowles today! RealMark Insurance is an affiliate of FinMark Insurance Agency, LLC.

Senate OK's New Tax Credit Closing Date!!

2010-06-17T09:20:00.002-04:00

The Senate has amended a bill to give homebuyers who were under contract on a home purchase by April 30 an additional three months to close the deal and claim the federal homebuyer tax credit.
Extending the deadline for closing from June 30 to Sept. 30 would allow lenders more time to clear a backlog of 180,000 homebuyers nationwide, said amendment sponsor Sen. Harry Reid, D-Nev.
The amendment to HR 4213, the "American Jobs and Closing Tax Loopholes Act of 2010" -- which primarily extends unemployment insurance benefits -- was approved in a 60-37 vote Wednesday. The vote was mostly along party lines, with only four Republicans in favor and one Democrat opposed.

The House passed an earlier version of the bill in December, and the Senate approved its own version in March. The Senate is currently working on resolving differences between the two bills.
The National Association of Realtors supports the amendment, saying Realtors have reported that as many as one-third of qualified applicants have been told by lenders that their loans will not close before June 30 because of the sheer volume of loan applications in the pipeline.
The amendment does not extend the deadline for homebuyers to qualify for the tax credit, NAR said in urging lawmakers to approve it, but simply extends the deadline for closing transactions already in contract.
"Since these applications were already in the pipeline and figured into the program's cost, the extension of the closing deadline should not incur any further government costs," NAR President Vicki Cox Golder said in a statement.
There has been some speculation that some homebuyers will attempt to submit fraudulent claims for the tax credit by backdating documents showing they were under contract by April 30, and that extending the deadline for closing would expose the government to more fraudulent claims.

Home Buyer Tax Credit Extended for Military Personnel

2010-06-01T09:33:00.001-04:00

The popular Home Buyer's Tax Credit has expired for all Americans, except for three very deserving groups: the brave men and women of the uniformed services of the U.S military, members of the Foreign Service of the U.S., or employees of the intelligence community who are actively serving outside of the U.S. on "official extended duty." Official extended duty is defined as any period of extended duty outside of the United States for at least 90 days during the period beginning December 31, 2008 and ending before May 1, 2010. That's right. Thanks to the Worker, Home Ownership, and Business Assistance Act of 2009, which was signed into law by the President on November 6, 2009, qualified military service members have one extra year to take advantage of The Homebuyer's Tax Credit of up to $8,000 for first-time buyers and up to $6,500 for certain repeat buyers. This means qualified military members must be under contract on a purchase by April 30, 2011 and close on the deal by June 30, 2011. Qualified military buyers can also utilize this tax credit along with other available benefits from the Department of Veterans Affairs (VA), making this dollar-for-dollar tax credit extremely financially attractive with today's lower home prices and lower interest rates. That's because the VA allows qualified military borrowers to purchase certain homes in certain areas with no money down and no private mortgage insurance. To be a qualified first-time home buyer and receive a tax credit of up to $8,000, the buyer and his or her spouse cannot have owned a home in the last three years. Unlike the Home Buyer Tax Credit for civilians, however, the maximum purchase price of a home is $800,000 under this program – anything over that and the tax credit is invalid. The credit phases out for individual taxpayers with modified adjusted gross income (MAGI) between $125,000 and $145,000 or between $225,000 and $245,000 for joint filers. To be a qualified "repeat buyer" or non first-time buyer and receive a tax credit for up to $6,500, a buyer must have lived in his or her current residence for five out of the last eight years. The rest of the requirements are generally the same as the $8,000 tax credit. You served your country, let us serve you. If you or someone you know is looking to purchase a new home and may qualify for this incredible opportunity, please don't hesitate to give Brett Knowles a call right away! 910 279-3000

Congratulations....

2010-05-19T14:16:00.002-04:00

Ted, Amanda and Baby Claire. We hope you enjoy your new home!!

Sea Coast Realty Ranks High Nationwide!!

2010-05-19T14:09:00.001-04:00

Sea Coast Realty Ranks Highly Among Nation’s Top Real Estate Companies
Posted: 18 May 2010 09:05 AM PDT
REAL Trends 500
Coldwell Banker Sea Coast Realty is among the country’s largest and most successful residential real estate companies named in the recently released 2010 REAL Trends 500 report. The list is released annually by REAL Trends, Inc., the residential real estate industry’s leading source of analysis and information.
The REAL Trends 500 report ranks the country’s top residential real estate companies by closed transactions and by sales volume. In 2009, Coldwell Banker Sea Coast Realty closed 2,799 sales, ranking #151 in the list of “The 500 Largest Brokers in the U.S.” ranked by closed transactions. Sea Coast Realty closed $579,520,735 in sales volume in 2009, ranking #162 in the list of “The 500 Largest Brokers in the U.S.” ranked by sales volume.
Coldwell Banker Sea Coast Realty ranked #23 out of more than 1,074 Coldwell Banker affiliated companies in the U.S. Coldwell Banker was ranked as the country’s #1 real estate franchise again this year, closing more than $128 billion in sales and almost twice as many sales transactions as the next leading real estate franchise.
Locally, Coldwell Banker Sea Coast Realty performed similarly well. In 2009, it closed more than twice as many sales as the next leading company. Sea Coast Realty has claimed the title as southeastern North Carolina’s top selling real estate company for ten years in a row.

2010-05-10T16:39:00.002-04:00

Open House

Saturday May 15, 2010

11:00am -1:00pm
917 Greenhowe
PINE VALLEY - $225,000
MLS #446881
3 Bedrooms - 2 Baths
South College Rd. to left on Greenhowe. Home is on the left.

Another Satisfied Customer!!

2010-05-06T09:34:00.001-04:00

Overall service was very good. Very knowledgeable of market and pricing. Provided good guidance.
~C.Gillick

2010-05-06T09:32:00.000-04:00

RISMEDIA, May 6, 2010—(MCT)—
Spring cleaning is turning into spring remodeling this year for many homeowners.
Home improvement projects are starting to make a comeback after frugal consumers pulled the plug on remodeling and renovation work during the downturn.
With the economy showing signs of stabilizing and retailers and contractors continuing to offer good deals, homeowners are sprucing up their homes’ appearance and value by repainting their bathrooms, installing new floors and carpets, and upgrading their kitchens.
Maritza Vega Gentry, a property manager from Glendale, Calif., said she’d hoped to begin remodeling her home in 2007 but put her plans on hold when the stock market crashed. This year, she said, she’s feeling more confident about the economy and plans to spend at least $5,000 on recessed kitchen lighting, ceiling fans and two sun roofs.
“I just sat back and waited for three years,” Gentry said while checking out light fixtures at Home Depot in Burbank, Calif., recently. “Now I’m back to doing what I was supposed to be doing: remodeling and taking care of business. I’m doing every repair that I can right now.”
In a survey recently released by American Express, 62% of homeowners said they planned to embark on home improvement projects in 2010, spending an average of $6,200 on enhancements.
It’s a relief for the battered home improvement market, which saw consumer spending plummet about 27% since 2007 as homeowners delayed or scrapped remodeling plans.
According to a report this month by the Joint Center for Housing Studies at Harvard University, the sector is estimated to see nearly 5% growth in 2010—although industry experts caution that a full rebound will take a while.
“The gradual recovery in the broader economy should encourage more remodeling spending by homeowners,” said Nicolas P. Retsinas, director of the housing studies center. “This year could produce the first annual spending increase for the industry since 2006.”
In their most recent earnings reports, Home Depot Inc. and Lowe’s Cos., the nation’s two largest home improvement retailers, posted better-than-expected fourth-quarter results and said consumers seemed to be more willing to take on costlier projects.
At Lowe’s, based in Mooresville, N.C., “the worst of the economic cycle is likely behind us,” Chief Executive Robert A. Niblock said recently in a call with analysts.
Atlanta-based Home Depot said fourth-quarter business picked up in some areas in California and Florida—states hit especially hard by the housing crisis—and said that of its top 40 U.S. markets, all but two showed improvement at same-store sales, or sales at stores open at least a year.
“All of this gives us some cause for optimism in 2010,” Chief Executive Frank Blake said in a call with analysts. “We’ve been waiting for this transition for a long time.”
For fiscal 2010, Home Depot estimated that same-store sales would increase 2.5%; Lowe’s projected that its same-store sales would rise 1% to 3%.
Business still isn’t where it used to be for Sergio De Paula, a general contractor from South Pasadena, Calif., who specializes in installing outdoor kitchens. In the last few years, he saw revenue decline 40% to 60% as clients halted projects or opted for more modest outdoor setups. “Now that the worst of the housing crisis is over, they’re starting to invest again, so we’re getting a lot more calls,” De Paula said. “It’s nowhere near pre-recession levels, but at least it’s starting.”
Joe McFarland, western division president at Home Depot, said many customers are now opting for do-it-yourself projects instead of hiring professionals, leading to a boost in sales of power tools, fertilizer and fruit and vegetable plants. “The downturn changed people’s outlook on the way they spend money for years to come,” he said. “We’re all anxiously awaiting what the new normal will be.”
(c) 2010, Los Angeles Times.
Distributed by McClatchy-Tribune Information Services.

2010-05-05T11:07:00.003-04:00

Coldwell Banker Buyer Bonus Sales Event
Thousands of Sellers to Offer Credit Up to $8,000 from May 1 Until July 31, 2010
PARSIPPANY, N.J. (April 26, 2010) — Coldwell Banker Real Estate LLC today announced the launch of its Buyer Bonus Sales Event, a national promotion intended to build on the momentum of the soon-to-expire federal homebuyer tax credit.
In a recent survey of Coldwell Banker Real Estate professionals, nearly half indicated that they had worked with home buyers who would have missed out on the home buyer tax credit in November of last year had it not been extended. In addition, while 34 percent cite the current tax credit extension (expiring April 30) as the primary reason their customers are currently for searching for a home, 28 percent said that they feel the limitations of this credit will prohibit some buyers from taking advantage of the credit.
That is why on May 1, 2010, immediately following the expiration of this government initiative, home sellers participating in the Coldwell Banker Buyer Bonus Sales Event will offer a credit of 3 percent (up to $8,000), when part of an accepted offer, of their home’s purchase price to buyers who sign a contract before July 31, 2010. There is no deadline for a closing date.
“The federal government did its part to encourage millions of Americans to achieve their dream of home ownership with the help of the home buyer tax credit,” said Jim Gillespie, president and chief executive officer for Coldwell Banker Real Estate LLC.
“As the credit expires, Coldwell Banker Real Estate is encouraging buyers who haven’t found a home yet to continue looking, while bringing a new audience of home buyers who were unable to qualify for the tax credit into the market. We are confident that this private sector solution will represent a significant step toward continued recovery of the housing market.”
“The Buyer Bonus Sales Event will allow participating Coldwell Banker home sellers to essentially extend the benefits of the credit,” said Gillespie. “Without restrictions such as household income caps, the Coldwell Banker Buyer Bonus Sales Event allows for greater participation for all homebuyers. And our sellers have a unique opportunity to allow their home to stand out from the competition in their marketplace.”
Participating homes will typically be identified by Buyer Bonus Sales Event yard sign riders and tagged as a Buyer Bonus home online at http://www.coldwellbanker.com/. While searching for a home online, home buyers can simply check the box labeled “Buyer Bonus Sales Event” to find participating properties nearby.
All home sellers who take part in the Buyer Bonus Sales Event will receive broad marketing support from Coldwell Banker Real Estate LLC, including:
National television commercials beginning May 1, 2010; extensive online advertising;
Promotion on http://www.coldwellbanker.com/;
Updates on the event to be shared on Coldwell Banker Facebook, Twitter pages & the Coldwell Banker blog, Blue Matter;
A video posting to the Coldwell Banker On Location channel highlighting the practical value of $8,000.
Home sellers that are interested in participating in the Coldwell Banker Buyer Bonus sales event can contact Brett Knowles at 910 279-3000 or brett@brettknowles.com .

2010-04-07T11:04:00.002-04:00

7514 Jonquil Court

Windward Oaks

$490,000

Click Here to Preview this Beautiful Home

Open House ~ Windward Oaks

2010-03-05T13:47:00.004-05:00

Open House

7514 Jonquil Court

Windward Oaks

Saturday, March 6th

1:00pm - 3:00pm

$500,000

Exquisite neighborhood setting define this beautiful brick transitional. The home is situated amongst majestic hundred year old oak trees, and southern magnolias. The floor plan is highlighted by the open center piece kitchen. Island cooktop, huge solid surface bar counter, breakfast nook and pantry along with a work station desk. Volume ceiling great room has a custom built entertainment center and a raised brick hearth gas fireplace. Formal living and dining room. Spacious first floor bedrooms. Large bonus room with adjacent overlook study. Walk-in attic storage. Fresh paint and refinished hardwood floors throughout. The enclosed patio sunroom and covered porch overlook a sloping landscaped yard. Great location for schools and beach access. Ready for occupancy.

Another Satisfied Customer!!

2010-03-03T17:14:00.005-05:00

"Great Home Buying Experience w/ Brett. Met our needs & found a house in less than 2 weekends -- 1 full day of looking and one 1/2 day" ~ Vanessa

Best of the Best 2010

2010-02-24T17:23:00.001-05:00

Congratulations! Coldwell Banker Sea Coast Voted Best Real Estate Company by Encore Readers.

Jazz Festival in Wilmington

2010-02-03T11:55:00.001-05:00

One of the largest traditional jazz festivals in the Southeast showcasing Dixieland, Contemporary, Ladies of Jazz and New Orleans Style music. Will be in Wilmington, Thursday, Febryary 4th.
Some of the all-star, world-renowned musicians performing include guitarist Bucky Pizzarelli, Butch Miles on drums, Hod O'Brian-piano, Duke Heitger on trumpet.(910) 793-1111

Location
30th Annual NC Jazz Festival
Hilton Wilmington Riverside Ballroom
301 N. Water Street
Wilmington, NC 28401

Tax Credit Extension

2009-11-30T16:52:00.000-05:00

Tax Credit Extension + Low Rates = Win-Win Great news! The government has just extended and expanded tax credits for home buyers - and not just those buying for the first time. First time home buyers can now receive an $8,000 tax credit through April 30, 2010 Home buyers who have lived in their residences for five years may now receive a credit of $6,500 The tax credit is now available to individuals earning up to $125,000, or $250,000 for couples .

Call Brett Knowles to learn more! 910 279-3000 brett@brettknowles.com

UNDER CONTRACT

2009-11-30T16:39:00.001-05:00

Another Brett Knowles listing goes under... Congratulations Robo and Tara in Linden Ridge!

June Real Estate Stats

2009-06-15T10:49:00.002-04:00

Hello Everyone,

Just though a few Wilmington Real Estate States (encompassing the tri-county region) would be in order.

There are currentely 5056 active listings on the market. In the past 30 days, 358 listings have gone to pending (under contract) status. And year to date the we have seen 1,390 homes sold. Things are picking up and summer is in full swing!

For more information on Wilmington, NC Real Estate click here!

Traveling Vietnam War memorial arrives in Wilmington

2009-06-11T09:55:00.002-04:00

A traveling memorial for those who lost their lives in the Vietnam War has made its way to New Hanover County.

On Tuesday, "The Wall That Heals" arrived at Ogden Park.

Veterans ushered in the memorial by motorcade.

The 250-foot wall honors the nearly 59,000 American service men and women who died during the Vietnam War.

The wall is a replica of the Vietnam Memorial in Washington D.C.

The Disabled Veterans Chapter 11 in Wilmington were on site to see the wall back in Wilmington for the first time since 1991.

"I’ve got a lot of my friends on that wall that I served with two tours in Vietnam,” said Gary Ledbetter.

The memorial has been to over 300 towns across the country as well as Canada and Ireland.

The unveiling of the wall and a memorial service will be held in Ogden Park on Thursday.

Want to know what your home is worth? Click here for a free market analysis of your home!

Current Tri-County Real Estate Stats

2009-06-01T10:21:00.002-04:00

In the tri-county region (New Hanover, Pender & Brunswick) there are currently:

5,126 active single-family listings
1,222 sold year-to-date
Average list price: $398,936
Average sale price: $248,365
Average days on market: 184

It's a great time to be buying real estate in the region, so call Brett Knowles at (910) 279-3000 or visit www.brettknowles.com for Wilmington, NC Real Estate Information!

Bands battle at boardwalk in Carolina Beach

2009-06-01T10:17:00.001-04:00

Great activities at Carolina Beach, NC!

The first ever Battle of the Bands was held as part of the Carolina Beach Boardwalk Makeover Program on Saturday.

Six groups competed in the first of three preliminary rounds.

Area music professionals will choose the best two groups to compete in the finals and have the chance to win several prizes.

“We have some great prizes… 20 hours of studio time from Cape Fear Studios, gift certificates from Varno Equipment, The Beat magazine has sponsored, as well as Modern Music has given some gift certificates,” said Brett Keeler of the CBBMP.

The Carolina Beach Boardwalk Makeover Program is a campaign to improve the boardwalk area with entertainment events, and construction projects.

For information on local events and real estate visit www.BrettKnowles.com!

Surfing the Web on the Intracoastal Waterway

2009-05-29T09:56:00.001-04:00

A Wilmington company called icwifi.net provides high-speed wireless internet access to boaters. Now checking the forecast on the water is just a click away.

Year round, boats stroll up and down the Intracoastal Waterway in Wrightsville Beach. Many have laptops on board, but couldn't get a connection…until icwifi.net came along.

"If you're out in the water and you don't have a good radar and you've got a storm coming and you're deciding do you go in for the night, or do you stay out hooked up for the rest of the night, you have to be able to see that and with icwifi, we'll allow you to do that,” said marketing manager Anna Hoggard.

If you're in the Motts or Banks channels of the ICW, you're in the coverage zone. When you click on the internet, a screen will pop up prompting you to sign up for icwifi.

The service costs $3 per day, $10 per week, or $30 per month.

You'll get a code you'll punch in to surf the web. "You can be in your house with the same code, and get on your boat with your laptop and go over to Masonboro Island and get on the internet there, so you can sit on the beach, sit on the dock, or sit on the porch," Hoggard explained.

.
People on shore can use the connection too, as icwifi.net has several antennas along the ICW like on top of Mott's Channel Seafood.

"It's good reliable high speed internet, we use it everyday,” said Motts’ manager Tom Franz who uses the connection to check the weather so he knows when to expect boats coming in with fresh seafood.

The company just started in March. In the coming months, icwifi.net hopes to expand their service to the Cape Fear River in downtown Wilmington, as far south as Myrtle Beach, and north to Morehead City.

For more information on Wilmington, NC and Real Estate in Wilmington, NC visit BrettKnowles.com

Record Low Interest Rates

2009-05-21T15:20:00.000-04:00

U.S. mortgage rates fell in the latest week, trekking closer to a record low set last month. Interest rates on U.S. 30-year fixed-rate mortgages fell to 4.82 percent for the week ending May 21, down from the previous week's 4.86 percent, according to a survey released on Thursday by home funding company Freddie Mac. [FRE 0.78 -0.02 (-2.5%) ]

Three weeks earlier, the 30-year fixed-rate mortgage equaled the record low of 4.78 percent set in the week ending April 2, which was the lowest since Freddie Mac started the Primary Mortgage Market Survey in 1971.

"Long-term fixed-rate mortgage rates have remained below 5.0 percent for the past 10 weeks as the U.S. Treasury and Federal Reserve act to keep interest rates low through security purchases," Frank Nothaft, Freddie Mac vice president and chief economist, said in a statement.

The U.S. government has embarked on an aggressive plan to bring mortgage rates down to levels that will spur demand and help the hard-hit housing market begin to recover.

Thirty-year mortgage rates had mostly been on a downward trend since the Fed — the U.S. central bank—unveiled a plan in late November to buy mortgage-backed debt .

The Federal Reserve has set a goal to buy up to $1.25 trillion of agency MBS, $300 billion of Treasuries and $200 billion of agency debt in 2009. The purchases are part of efforts to lower borrowing costs.

Leif Thomsen, CEO of Mortgage Master, in Walpole, Massachusetts, said his main message to people looking to get a mortgage is to be patient. "It boils down to simple supply and demand - there are hundreds of thousands of people applying and only so many people to field the requests so nothing is moving quickly," he said.

"We have seen encouraging signs of the purchase market coming back, but we have to remember that as long as we continue to see people losing their jobs, the housing market cannot completely recover," he said.

The battered U.S. housing market, which is in the midst of its worst downturn since the Great Depression, is both the source of and a major casualty of the credit crisis.

A recovery for the market could portend a turnaround for the United States, the world's largest economy.

Low interest rates on mortgages are pivotal for the U.S. housing market this spring, the peak home buying season. And low mortgage rates have and should continue to spur demand for home refinancing loans.

Lower monthly payments provide a bit of relief to strapped consumers amid rising unemployment and a shrinking economy. The low rates so far have had little to no impact on demand for loans to purchase homes.

But the Fed hopes lower interest rates on mortgages will change that.

Other Rates Mixed

Freddie Mac said the 15-year fixed-rate mortgage averaged 4.50 percent in the latest week, down from 4.52 percent the prior week.

One-year adjustable-rate mortgages, or ARMs, rose to an average of 4.82 percent from 4.71 percent last week.

Freddie Mac said the "5/1" ARM, set at a fixed rate for five years and adjustable each following year, averaged 4.79 percent, compared with 4.82 percent a week earlier.

Slideshow: Highest End Real Estate

A year ago, 30-year mortgage rates averaged 5.98 percent, 15-year mortgages were at 5.55 percent and the one-year ARM was at 5.24 percent. A year ago, the 5/1 ARM averaged 5.61 percent.

Lenders charged an average of 0.7 percent in fees and points on 30-year mortgages, up from 0.6 percent the previous week, while they charged an average 0.7 percent in fees and points on 15-year mortgages, up from 0.6 percent the previous week.

The 5/1 ARM fees and points were 0.6 percent, unchanged from the previous week. The one-year ARM fees and points were 0.6 percent, unchanged from the previous week.

Freddie Mac and its larger sibling, Fannie Mae, [FNM 0.76 -0.01 (-1.3%) ] were placed under government conservatorship in early September.

Freddie Mac is a mortgage finance company chartered by Congress to buy mortgages from lenders and package them into securities to sell to investors or to hold in its own portfolio.

Rates On 30 Year Mortgages Fall Near Record Low

2009-05-21T15:19:00.000-04:00

The U.S. government has embarked on an aggressive plan to bring mortgage rates down to levels that will spur demand and help the hard-hit housing market begin to recover.

Thirty-year mortgage rates had mostly been on a downward trend since the Fed — the U.S. central bank—unveiled a plan in late November to buy mortgage-backed debt .

The battered U.S. housing market, which is in the midst of its worst downturn since the Great Depression, is both the source of and a major casualty of the credit crisis.

A recovery for the market could portend a turnaround for the United States, the world's largest economy.

But the Fed hopes lower interest rates on mortgages will change that.

Other Rates Mixed

Freddie Mac said the 15-year fixed-rate mortgage averaged 4.50 percent in the latest week, down from 4.52 percent the prior week.

One-year adjustable-rate mortgages, or ARMs, rose to an average of 4.82 percent from 4.71 percent last week.

Freddie Mac said the "5/1" ARM, set at a fixed rate for five years and adjustable each following year, averaged 4.79 percent, compared with 4.82 percent a week earlier.

Slideshow: Highest End Real Estate

A year ago, 30-year mortgage rates averaged 5.98 percent, 15-year mortgages were at 5.55 percent and the one-year ARM was at 5.24 percent. A year ago, the 5/1 ARM averaged 5.61 percent.

The 5/1 ARM fees and points were 0.6 percent, unchanged from the previous week. The one-year ARM fees and points were 0.6 percent, unchanged from the previous week.

Freddie Mac and its larger sibling, Fannie Mae, [FNM 0.76 -0.01 (-1.3%) ] were placed under government conservatorship in early September.

Freddie Mac is a mortgage finance company chartered by Congress to buy mortgages from lenders and package them into securities to sell to investors or to hold in its own portfolio.

Wilmington, NC Real Estate

HUD Secretary Announces Monetization of Tax Credit at NAR Real Estate Summit

2009-05-13T15:58:00.001-04:00

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the
Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a downpayment.

Donovan’s remarks came in an address to several thousand Realtors^® gathered this morning at The Real Estate Summit: Advancing the U.S. Economy, a special daylong session at the Realtors^® Midyear Legislative Meetings & Trade Expo here.

Secretary Donovan said that important changes, which the National Association of Realtors^® has been calling for, will help consumers purchase a home. “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment,” Donovan said. According to Donovan, the FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

Donovan said the Obama administration plans to further stabilize the housing market. “I do think we have some early signs hat the market overall is stabilizing,” said Donovan. “Since January we’ve seen both home sales moving up and down around a relatively stable number and we are seeing the first signs that the rapid decline in home prices is starting to abate.”

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said, “As the leading advocate for housing issues and homeownership, NAR continues to take a leadership role in promoting ideas for improving our economy by stabilizing the housing and real estate markets. Today we have the best of the best to begin a dialogue, develop solutions and initiate action toward real estate and economic recovery.”

The morning session included a panel discussion that was moderated by CNBC’s Ron Insana. The 13 panelists and Realtors^® in attendance examined cutting-edge solutions necessary to promote and preserve homeownership and real estate development, stimulate the economy, and protect the nation’s taxpayers. They also shared their ideas on what the role and responsibility of the federal government is in the revitalization effort.

The list of distinguished panelists include Dr. Martin Feldstein, professor of Economics from Harvard University; Dr. Barry Bluestone, professor of Political Economy from Northeastern University; John Taylor, CEO of the National Community Reinvestment Coalition; Maria Kong, president of the National Association of Real Estate Brokers; and Sarah Rosen Wartell, executive vice president for the Center for American Progress.

“Right now the Federal Reserve is the market,” said Jay Brinkman, chief economist for the Mortgage Bankers Association. “What will be the effect when the Fed stops buying?” Brinkman explained that an exit strategy must be planned for the long-term; the federal government cannot continue to support the mortgage markets indefinitely.

“We must make sure FHA and the GSEs are supported,” added the Wharton School’s Susan Wachter.

“We are thrilled that so many high-caliber individuals were able to join us today at this important meeting to promote stability in the housing market and the U.S. economy,” McMillan said. “We look forward to an ongoing dialogue and action toward this goal, during our midyear meetings this week and beyond.”

Wilmington: Coastal Dream Town

2009-05-12T13:28:00.000-04:00

Wilmington has been named as one of eighteen coastal dream towns. In Coastal Living Magazine's May issue of Best Places to Live in the Region for Every Budget, the Port City came in 18th.

Allure factors include a revitalized downtown, Riverwalk, and a lively performing arts scene.

The region's film industry also received a big nod with film festivals and Screen Gem Studios' new soundstage that's in the works.

For more information on Wilmington, NC Real Estate visit Brett Knowles.com!

SOLD in only 46 DAYS!

2009-04-22T14:04:00.003-04:00

700 S 5th Street - Carolina Beach
SOLD IN ONLY 46 DAYS!

106 Stoneybrook Road

2009-04-22T13:49:00.002-04:00

Stoneybrook - $249,900

Cottage style curb appeal on a wooded,high lot. Lots of space in this single level home. Spacious family room with stone hearth fireplace. Huge gameroom. Tile floor in the kitchen and baths. The 36 X 24 detached garage and workshop is great for the handy man. Updated vinyl windows and HVAC System. Mature neighborhood feel. Close to schools and the waterway.

For other listings and more information on Wilmington, NC Real Estate visit www.BrettKnowles.com.

1313 Old Lamplighter Way

2009-04-22T13:48:00.002-04:00

Greymarsh Landing - $429,900

Coastal Carolina Charm! Opportunity abounds in this 4 bedroom low country design. The interior floor plan features lots of gracious space. Open great room and kitchen with hardwood floors, custom built-ins, wet bar, gas logs, and volume ceilings. Formal dining. Spacious bedrooms with fantastic closet space. First floor, master suite. Tile baths. Beautiful landscape with lots of trees. Inviting front porch is great for porch swings and rockers. Entertain from the multi-level backyard deck. Located in a quaint neighborhood community that includes pool & clubhouse. Gateway to Wrightsville Beach. Priced to sell!

For other listings and more information on Wilmington, NC Real Estate visit www.BrettKnowles.com.

Skies Brighten For Real Estate Market

2009-04-17T11:52:00.000-04:00

The dark cloud that has been hovering over the real estate market may be breaking up.

Several real estate agents and mortgage brokers believe it's a great time to buy a home for the first time.

"I think the real estate market in 2009 is phenomenal right now,” said President of Coldwell Banker Seacoast, Tim Milam.

According to many experts, it's a great time for new homebuyers, which includes anyone who hasn't owned a home in the past 36 months.

Currently, there are some good incentives including an $8,000 tax credit, low interest rates, and reasonably priced homes.

President of Alpha Mortgage Michael Lopez calls it the triple threat. “We have the best rates in history right now."

Realtors are seeing high foot traffic. Buyers are mostly looking for homes priced lower than $300,000.

Mohamad Elhenawy just bought his first home. He said the tax credit was a good incentive for him. "Made me think about it so much, because $8,000 is a lot of money for me."

His new home is off Gordon Road, and he can't wait to start working on it. "I love the yard, I love to work in my yard, to grow plants and fruit, I love to grow fruits."

Some Wilmington mortgage brokers and realtors have come together and created a website that describes the $8,000 incentive and how it applies to buyers looking in our area. Find out if you are eligible, how the credit works, and where you can find the right home by visiting www.getyour8000.com.

New Listing - 105 Sea Lily Court

2009-04-06T12:42:00.001-04:00

Outstanding opportunity to own a home in a coastal Carolina gated community with water access. 4 bedrooms, 3.5 baths, detailed molding in the formal living and dining rooms. Vaulted ceiling greatroom has expansive built-in bookcases around a gas log fireplace. Huge kitchen features granite tops, center island, ceramic tile floor and a butlers pantry. 1st floor master, lots of covered decking. Cul-de-sac lot. Neighborhood includes a pool, tennis and fitness center!

For more information on Wilmington, NC Real Estate click here!

Wilmington ranked no. 13 for business and careers

2009-03-30T14:39:00.001-04:00

WILMINGTON, NC (WECT) - Lucky number 13 - for Wilmington, at least.

Forbes Magazine has ranked Wilmington the 13th best places in the nation for business and careers.

The rankings were based on the research from data on job growth over the past five years and projections through 2011.

Business and living cost data were also taken into account, in addition to income growth and migration trends.

North Carolina had several cities in the top ten including: Asheville at 6th, Durham in 3rd, and Raleigh took the number one spot for the third straight year.

Forbes reports that employment is expected to fall during 2009 in Raleigh after jobs were added at a 4% annual clip the past five years.

They say the job picture is expected to brighten in 2010 and 2011, and the three-year projected annual employment gain is 1.4%. according to Moody's Economy.com, 15th best in the country.

Mortgage Rates for 30 Year Drop To Record Low

2009-03-26T16:15:00.000-04:00

U.S. mortgage rates fell to record lows again this week, feeding demand for refinancings, as a result of government efforts to reduce rates to levels that will help the hard-hit housing market begin to recover.

Interest rates on 30-year fixed-rate mortgages averaged 4.85 percent for the week ending March 26, down from the previous week's 4.98 percent.

The rate broke the previous record low of 4.96 percent set 10 weeks earlier, according to Freddie Mac.

The 30-year fixed-rate mortgage is the lowest since Freddie Mac started the Primary Mortgage Market Survey in 1971.

"The Federal Reserve's announcement that it intends to purchase Treasury securities over the next six months caused bond yields to drop and mortgage rates followed," Frank Nothaft, Freddie Mac vice president and chief economist, said in a statement.

Could rides and games return to Carolina Beach Boardwalk?

2009-03-25T15:55:00.001-04:00

It's been more than ten years since an amusement park lit up the Carolina Beach Boardwalk, but if all goes according to plan, Ferris-wheels and tilt-a-whirls could once again find a home along the shore.

Rides and midway games used to line the shores of Carolina Beach, however hotels and retail shops have replaced them.

“Sometimes it takes that kind of amusement stuff to make you happy,” said Mayor Joel Macon.

Two years ago, some local business owners almost succeed in bringing the carnival atmosphere back to the boardwalk. This summer carnival rides could find a home among a miniature golf course, a summer concert stage, and a revitalized boardwalk.

The amusement park will include up to 15 temporary rides and will help the town decide if it should install a park permanently.

Carolina Beach residents and visitors both say they've seen drastic improvements in the boardwalk, but say an amusement park could be just the thing to help the beach appeal to the younger crowd.

“I think it would be great, there's nothing for anyone down here to do, as in children wise. I think it would bring a whole lot more business down here,” said CB visitor Angel Cook.

Plans for the park will be reviewed twice in the middle of April.

If everything works out, a small-scale amusement park could open its doors in May.
The Town Technical Review Committee reviewed plans for the park on Monday.

Carolina Beach Planning Commission and Town Council will look at the plans in the middle of April.

Everyone we spoke with said they support bringing amusements back to the boardwalk.

For more information on Wilmington, NC Real Estate click here!

For information on Brett Knowles, click here!

Homeowners to get break on beach plan insurance

2009-03-25T15:53:00.000-04:00

North Carolina homeowners insured under the beach plan will get a break on rate increases.

Most homeowners along the coast get their windstorm and hail insurance through the North Carolina Beach Plan. On Monday a judge ruled that one planned rate increase will be frozen, but another increase could be just around the corner.

In January the North Carolina Insurance Commission rezoned it's insurance territories.

Under the new zoning, beach town homeowners pay different insurance rates from those on the other side of the Intracoastal Waterway.

Last year beach town homeowners paid nearly double the amount of costal homeowners for insurance coverage.

The North Carolina Insurance Commission scheduled a 10 percent increase to take effect February first. That would have meant $200-$300 on insurance premiums for every $400,000 of coverage.

But Monday a judge ruled former insurance commissioner Jim Long didn't follow proper procedures before approving the increase.

Insurance agent Jim Moore said the commission needs to restructure the beach plan. “I think the people on the coast need to lobby to have their premium dollars put into an escrow account and returned down the road if the money is not needed for storms. Second, I think we have painted the insurance companies into a box, we need to relieve them of the potential assessments that could bankrupt them.”

But folks living along the coast aren't out of the woods yet. Local homeowners could still be paying higher premiums beginning in May; 40% increase for costal homeowners and 20% percent increase for beach homeowners.

Insurance agencies said the increase is necessary to prevent them from going bankrupt in the event of a big hurricane.

A spokesperson for the North Carolina Insurance Commission said, "We don't want to have increases if they're not warranted, but the industry provided compelling data."

Moore believes that data is just guesswork. “I just don't think you can predict the cost of a category 4 or 5 storm in North Carolina, when we've never had one.”

If the NC Insurance Commission decides to go after the February increase, new commissioner Wayne Goodwin will have to repeat the process before it can take effect.

That planned May increase could also face a freeze if Senator Boseman has any say. The senator sponsored a bill that would delay all insurance increases until July 2010.

Click here for more information on Wilmington, NC Real Estate!

If Wilmington Had A Facebook Page!

2009-03-02T15:57:00.001-05:00

If you’re a regular Web surfer, you likely have a Facebook account. And if you have a Facebook account, it’s likely you’ve been bombarded with friends requesting you to send them “25 Random Things” about yourself. The “25 Random Things” list has become a social networking phenomenon that thousands of Facebook “friends” have kept alive. A Google search for “25 Random Things About Me” yields 83,300 hits. But not everyone has embraced them. Time magazine recently ran an article titled “Facebook: 25 Things I Didn’t Want to Know About You.” Still, advocates say it’s a great way to find out strange and unusual details about the people you thought you knew.

Well, we thought we knew Wilmington. But when we “friended” our fair city, we discovered it’s own “25 Things” list, revealing a surprising, varied history.

Here’s what you might not know about your old buddy, Wilmington.

1. I’m semi-famous. One of my several nicknames is Wilmywood and more than 300 films have been produced here since the 1980s.

2. I raised Henry Bacon, the architect of the Lincoln Memorial. And when he died, he was buried here.

3. I’m getting fatter. My population grew from 55,030 in 1990 to 90,330 in 2000. I’m expected to reach 99,781 next year.

4. I’m not going to tell you my age, but let’s just say George Washington dropped by one day and had supper with me.

5. I’m really into the arts, ever since I was little. Oscar Wilde, Charlie Daniels, Claude Howell, Robert Ruark and others are all buddies. And just recently I’ve decorated with some new sculptures downtown.

6. I love to go fishing. The state’s biggest flathead catfish was caught right here in the Cape Fear River. It was 78 pounds. The state’s biggest black drum was caught here, too. It weighed 100 pounds.

7. I’m athletic, too. I’ve been home to Michael Jordan, Meadowlark Lemon, Sonny Jurgensen, Roman Gabriel, Althea Gibson, Trot Nixon and other sports greats.

8. Sometimes I can be obsessive compulsive. Did you know there are exactly 19 seams in the bridge over Bradley Creek on Oleander Drive? Count them the next time you drive over. Ca-klump, ca-klump, ca-klump . . .

9. I’m super-smart. UNCW has 73 undergraduate degree programs and 32 graduate degrees. About 11,840 students attend the college. Cape Fear Community College’s student enrollment in credit programs topped 7,500 in the fall 2007 semester.

10. I don’t reveal my secrets to just anyone. Did you know miles of more than 100 year-old underground tunnels criss-cross the streets downtown? They were probably originally used as drainage, but who knows what else happened down there. :-) Oh, and that bee hive on my coat of arms? Yeah, nobody knows where that came from. Just ask around.

11. I don’t like to talk about my criminal past. But did you know Stede Bonnet, the “gentleman pirate” was captured here?

12. One of the proudest moments of my life happened just last year when the nuclear fast attack submarine, USS North Carolina, was commissioned at my port.

13. I love to party! Next time you get a chance, come on down to my N.C. Azalea Festival, Riverfest, Fourth of July Fireworks display over the battleship or lighting of the World’s Largest Living Christmas Tree. Those are good times, my friends.

14. My parents had a hard time deciding what to name me. Originally, they were going to call me New Carthage. Then they changed it to New Liverpool, New Town, Newton and finally, thank goodness, Wilmington. Can you think of me as anything else?

15. Years ago there was a rumor that I had more fast food restaurants per capita than any other city in the Union. Well, I don’t know about that. But I sure can cook. All the movie stars complement me on my restaurants including Caffe Phoenix and Deluxe.

16. I’m a tough old bird. I’ve survived a lot of hurricanes, held off German submarines during World War II, lived through race riots, doused huge fires and trudged through two feet of snow back in 1989. But I keep on truckin’.

17. Lately I’ve been socializing with a lot of Northern friends. But I’ve always kept my deep Southern ways – sweet tea, magnolia blossoms in June, Civil War re-enactments and some darn good oyster roasts.

18. I’m a pretty likeable city, but I’ve kicked out a few blow-hards like Hazel, Bertha, Fran, Diana, Floyd, the list goes on.

19. I’m super stylish. I’ve changed my looks a lot over the years, from dirt roads and buggies to brick streets and trolley cars, then asphalt and speedsters. I move with the times. I’m starting to get rid of those unsightly power lines, too, and put in some modern underground ones.

20. Don’t tell anybody. Sometimes I get dandruff. During the spring you’ll find everything covered in yellow-green pine pollen. It’s embarrassing.

21. I’m short but you’ll never guess how short. I only stand about 30 feet above sea level.

22. I’ve served our country. One of North Carolina’s three signers of the Declaration of Independence, William Hooper, lived here.

23. When it comes to love, I’m ruthless. Back in the 1700s I stole away the entire population of Brunswick Town. It’s just a State Historic Site now. They loved me better anyway.

24. Sometimes you might hear mysterious loud booms. Some people call it the Seneca Guns. But it’s really me having a tantrum.

25. I love to spill the beans, the Wilmington Star-News is the oldest continuously published newspaper in North Carolina.

For more information on Wilmington and Wilmington, NC Real Estate visit www.BrettKnowles.com

Wilmington, NC

2009-02-26T13:34:00.002-05:00

Want to know more about Wilmington, North Carolina? Logon to my site by clicking here to find out lots of great information on the Cape Fear Region and the wonderful town I have called home for many many years!

What's Going On In Wilmington

2009-02-19T16:38:00.000-05:00

Friday night it is Cape Fear Community College's first ever Homecoming celebration. If you are an alumni, join in the celebration at the CFCC Schwartz Center lobby before the men's basketball game. Be there at 6:00 p.m. for free appetizers and your chance to win door prizes. Bring your alumni membership card for free admission to the reception and game. Call 910-362-7659 to RSVP.
The Cameron Art Museum will focus on Civil War history, but not in the form of paintings. The museum is holding a Civil War living history weekend for the 144th anniversary of Battle of Forks Road, which happened on the museum's historic site. It runs from 10:00 a.m. until 5:00 p.m. The event is free.
The Full Belly Project is holding its Feast Against Famine fundraiser. There will be a buffet, beer, wine, entertainment and live and silent auctions. It is happening at the Coastline Convention Center Saturday night from 6:00 p.m. until 10:00 p.m. Tickets are $50 in advance, $60 at the door. You can buy tickets by calling 910-452-0975.
New Hanover County's 5th Polar Plunge is taking place at the Carolina Beach Boardwalk Saturday. Music, food and a costume contest begins at 11:00 a.m. At 3:00 p.m., line up to take a dip into the Atlantic. In order to participate, you have to raise at least $50. Money raised goes to the Special Olympics.
This weekend, you can begin gearing up for your St. Patrick's Day celebration. A pint glass workshop takes place Saturday and Sunday at Burchetta Glassblowing Studio and Gallery in Wilmington. You can design and make your own hand blown pint glass. It runs from 10:00 a.m. until 2:00 p.m. It is $50 per person.

Stimulus Package Tax Credit for Homebuyers

2009-02-17T10:35:00.003-05:00

A lot of questions have been asked about the latest stimulus package awaiting approval from the President. Probably one of the most important factors of the package for the housing industry is the home buyer tax credit. The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

For more information on Wilmington, NC Real Estate click here.

Buyers Advice

2009-01-18T15:16:00.000-05:00

In many markets, the supply of homes is now greater than the demand to buy them, so sellers can't be terribly choosy. You, the buyer, have greater leverage than usual to name your terms and make them stick. Welcome to the elusive but profitable condition known as a buyer's market.

What's the first step?

The best way to start is to work with an experienced professional, someone who can guide and assist you — Brett Knowles! Brett Knowles is a real estate sales professional that can help you understand the opportunities in your local real estate market, and eliminate your fear, uncertainty and doubt.

Read the fill post here

Relocating to the Wilmington Area?

2009-01-18T15:04:00.000-05:00

Wilmington is one of the fastest-growing cities on North Carolina's coast, and despite the national trend, the market here is still in good health. New home communities are plentiful in Wilmington, and prices remain affordable. A 2006 article from CNN and Money Magazine ranked Wilmington, NC the 7th best place to buy real estate in the country. Wilmington has a long history, and played a key role in building the economic structure of North Carolina in the 18th and 19th centuries, as well as in the civil war. Much of this history has been preserved in the many historic sites of Downtown Wilmington, the Cape Fear Museum, and the USS North Carolina Battleship Memorial. For more information about relocating to Wilmington, request your FREE Relocation Package today.