Kathy's Blog

What Does Warren Buffet Think about Buying a Home?

Mon, 30 Jan 2012 19:12:12 GMT

Warren Buffet is seen by many as the greatest investor of our time. When he speaks, people listen. Like anyone else in his position of influence, he is criticized by some for using his bullhorn to promote his own business agendas at times. That makes it very interesting when we occasionally learn of how he privately advises those closest to him.

Such a situation occurred this week. Debbie Bosanek, Warren Buffet’s secretary of 37 years, recently purchased a second home in Surprise, Arizona.

In an article in the Omaha World Herald, Mrs. Bosanek discussed her reasons for purchasing a second home and the personal advice she received from Mr. Buffet.

“I just thought it was time to buy a home. Warren tells me that it will be the best opportunity in my lifetime. Mortgage rates are low and prices have dropped dramatically…I share Warren’s view about the future of America, and we believe that our country will do just fine. I’m happy to make this investment.”

The greatest investor of the last century privately has told the people closest to him that buying a home right now “will be the best opportunity in [their] lifetime”.

from KCM blog

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Intracoastal Realty Hits some record sales to start 2012

Fri, 27 Jan 2012 17:55:40 GMT

2012 is off to bang at Intracoastal Realty. In the first 3 weeks of the year our company’s agents have placed over $ 40 million sales.

This is a increase of 146% over last years first 3 weeks of sales. Market is looking up and I have been showing property all week.

Hopefully this year will be certainly better than last year. If you want to sell i would put your house on the market right now to take advantage of all the buyers out there looking to move here.

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Needa tugboat?

Fri, 20 Jan 2012 02:03:21 GMT

A government website has a tug boat The Valley Forge, a tugboat for sale with a starting bid of $ 150. Sunny point terminal has a contract with the Department of Defense, that operates the websitewww.govliquidation.com and receives about 10,000 items of surplus and scrap from the military weekly. The site has been called "eBay for the Pentagon."

But the Valley Forge is a rarity.

"We have probably had three to four tugboats" over the past decade, said Timothy Gilliam, manager of site images. "When we get them, the conditions vary."

This tugboat, however, is in tip-top condition. It is fully operational, seaworthy, and in Gilliam's opinion, has been well cared for.

The 108-foot vessel was used over the years as a firefighting boat and escort for incoming ships. The boat is capable of shooting high-powered water and foam. During service, it housed four officers and six crew members.

Once sold, the boat could serve in its former capacity or as a place to live.

"I suspect someone could buy it to live on it," Gilliam said. "But the engineering onboard would go to waste. It is a working craft."

What a great opportunity to buy a unique boat…

This story was published in Wilmington Star News.

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Snapshot of the December Real Estate Market…Wilmington NC Real Estate

Wed, 18 Jan 2012 22:03:32 GMT

December just means that 2011 is over. We have a 7.2% increase in average sales price from last month. When you look at the sales for December you will see that there are only 4 transactions over $700,000. Almost 23% of our sales price range was $200,000 to $299,000 while over 44% of our transactions were for price range of $160,000 and down. Our sold units are up by 8.5% from last month and down 4.6% over last December. Current listing inventory is down by 8.6% from last month (which is to be expected) and the sellers paid concessions is down by 1.0% from last month. The average sold price is up $14,533 from last month and down $20,490 from last December. Our sold units hit 371, an increase of 29 units from last month. On January 1st we saw a decrease of 355 homes in our listing inventory; we have 3,751 homes on the market as of January 1^st. This is our lowest listing inventory in a long time. This adjusted our month’s supply with just over 10.1 months a decrease from last month’s 12.4. Our average list price had a decrease this month; we are currently at $343,088. In December sellers paid concessions in about 29.6% transactions, about 1% lower than last month. Our average days on the market decreased to 152 days. The list to sold ratio has increased a little to 94.1% this number needs to continue to get better. The number of homes that sold in 15 days or less continues to remain very low, 12.9% of December sold homes. The 30-year fixed-rate mortgage (FRM) averaged 3.89% with an average 0.7 points for the week ending January 12, 2012.

The above information is from David Flory of Cunningham mortgage. David is still lending money so if you are looking for a mortgage he is located in Wilmington and can help you.

Mortgage Consultant

Cunningham & Company Mortgage Bankers

910-352-8273 cell

910-313-0045 office

davidf@cunninghammortgage.com

www.cunninghammortgage.com

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Wanted Farms!!

Tue, 17 Jan 2012 20:50:41 GMT

WANTED TO PURCHASE : FARMS - we have buyers looking for farms. Do you have a farm to sell with stables for horses?
We currently have 2 buyers looking for farms. Contact me and I may be able to help sell your farm....
Kathy Knight 910 471-4956 Intracoastal Realty Corp...

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Year End Holiday Events Happening in Wilmington NC…

Fri, 30 Dec 2011 17:19:08 GMT

Until 12/31: Teacher’s Fund Raffle Tickets for sale - Intracoastal Realty Corp raffle

to benefit the Teachers Fund.

Buy a ticket for $ 10.00 and win a chance to receive an Ipad 2.

Until 1/2: Downtown Holiday Tree Lighting. Riverfront Park, Downtown Wilmington

Until 1/4: Holiday Lighting of the Battleship. Downtown Wilmington

12/31: New Year’s Eve Cruise aboard Henrietta III Riverboat, Downtown Wilmington

12/31: New Year's Noon Countdown. The Children's Museum, Downtown Wilmington

12/31: Island of Lights New Year's Eve Countdown. Carolina Beach, NC
12/31: New Year's Eve Beach Party & Anchor Drop. Southport

1/13-16: Stripefest, Coastline Convention Center, Downtown Wilmington

1/16: Martin Luther King Jr. Parade. Downtown Wilmington

1/21-22: 4th Annual Cold Stroke Classic. Blockade Runner, Wrightsville Beach

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Tips for selling your home during the Winter…

Fri, 30 Dec 2011 17:07:06 GMT

Remember the outdoors: The front of the home is one of the first impressions a buyer gets. Be sure to keep the yard maintained and the walkways clear.
Provide Convenient Parking: Buyers prefer not to walk too far in cold weather. If it’s wet or snowy leave a decorative rug so your prospective buyer can wipe their feet.
Turn on the Lights: Tackle winter’s short and cloudy days by having the lights on. When you have a showing, turn on every single light in the house, even in closets and the garage. Leave blinds and curtains open to let light shine in. Keeping lights on towards the front of the house helps people to notice your home better when driving by. Encourage daytime showings whenever possible.
Keep Odors Under Control: It’s easy for homes to get stuffy when it’s too cold to open windows. The less air circulates, the harder it is to eliminate pet or cooking odors. Be sure to let the thermostat run during the day to keep air moving, which leads to the next tip…
Don’t Cook the Buyers: The temperature should be set around 65 degrees to avoid making your buyers overheat. This is a comfortable temperature for buyers as they walk through your home. In most cases, buyers will leave their coats on during the walk through so it shouldn’t be too hot.
Incorporate a Festive Look: Appropriate decorations can give a home a cheerful look. However, it is important not to go overboard! Just a few tasteful touches can go a long way. Once the holiday is over it is best to remove the decorations promptly.

adapted from Lake Slacum

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Goldman Sachs: Housing Market Bottom is Really Finally ( almost) here

Wed, 07 Dec 2011 20:16:30 GMT

PM ET

It’s the question that everybody wants to know, but no one seems to be able to answer: When will home prices finally hit bottom?

A lot of pundits even locally have discussed the “bottom” of the real estate market. Here is what the Analysts at Goldman Sachs predict in a new report (published late Friday) that the end of the crash in home values is actually within view.

Goldman’s analysts, Hui Shan and Sven Jari Stehn, project that the national S&P/Case-Shiller home price index has 2.5% to fall before it hits bottom next summer. The Case-Shiller index of prices in 20 large cities is likely to fall 3.5% before hitting bottom in the second half of 2012, they say.

How do these forecasters reach this conclusion? Well, that’s where things get complicated.

The analysts constructed a new model of home prices in 147 U.S. metro areas, estimating an “equilibrium” home price for each. That measurement is an expected home price based on population, income, lending costs and construction costs. Nationally, they say, home prices are close to this equilibrium level after deviating far from it during the boom years.

The analysts’ modeling also takes into account short-term price changes, including factors like the excess supply of homes on the market and the level of subprime loans in a particular market.

After doing all of this number-crunching, the Goldman analysts projected that the strongest U.S. markets will be Detroit, Miami and Cleveland. They are forecast to show price increases of 5%, 3% and 1% over the next two years.

Goldman’s analysts are still bearish on several cities, which they see as overvalued. Prices in Portland, Ore., they say, should decline by 8% over the next two years. The report also forecasts price declines of at

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Looking for a tour this weekend on Saturday, December 10?

Mon, 05 Dec 2011 22:24:10 GMT

Here are a few for you to consider Fort Fisher…

Fort Fisher Tour, Tour, Fort Fisher, Kure Beach, Hourly from 9 am, Donation

Haunted Cotton Exchange, Tour, Cotton Exchange, Downtown Wilmington, $10

Haunted Pub Crawl, Tour, Riverfront Park, Downtown Wilmington, 7:30 pm, $15 Advance Only

Hollywood Walking Tour, Tour, Riverfront Park, Downtown Wilmington, 2 pm, $12/$10

Liz Biro's Food Walking Tour, Tour, Riverfront Park, Downtown Wilmington, 2:30 to 5:30, $38 per person

Movie Studio Tour, Tour, EUE Screen Gems Studios, Midtown Wilmington, Noon & 2 pm, $12/$10/$8/$5

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Great White Shark spotted 25 miles off coast of Wrightsville Beach NC

Thu, 01 Dec 2011 01:38:22 GMT

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great white off coast of Wrightsville Beach NC

3 guys fishing were circled by an inquisitive great white shark this past weekend while fishing off coast of Wrightsville Beach NC.

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