wilmington nc: Who Caused the Housing Crisis?
- 08/18/12 06:32 AM
Most blame for today's housing market is rightly assigned to lenders. It's true, their low standards and poor qualification practices contributed mightily to where we are today. Yes, they could not have lowered standards on government secured loans without political complicity but lobbyists worked hard to create a wider market for lending. Further, there were unscrupulous firms offering loan products that made no sense. Recently I read a homeowners deed of trust several times attempting to understand their Option Arm mortgage. I gave up and cursed the mess we're in today. But, being the thoughtful and curious type, I keep coming back to … (9 comments)
wilmington nc: Does Home Ownership Still Make Sense For You?
- 08/18/12 03:54 AM
In the greater Wilmington, NC area, where so many homeowners are hurting due to falling house prices, folks are looking for and deserve anwers to the question that make sense. That our area home vales rose 60% between 2004 and 2007 didn't make any sense. That irrational growth meant a long fall and protracted recovery. We may be at the bottom but no one knows for sure. My message to todays buyer is be prepared to rent out your home if circumstances take you outside the area before appreciation kicks in again. I know that ours is an inherently transient area. Many folks come, fall in love, stay forever … (2 comments)
wilmington nc: No One Wants to Be the Sucker Who Overpays?
- 08/18/12 03:07 AM
Awhile back, a fellow agent member of AR wrote a "members only" blog expressing frustration. She presented a market analysis to a seller whose home had been previously listed by three other agents. After doing so, he assured her his home was worth exponentially more than the market indicated. Then he called to brag that he had a buyer who would give him almost what he thought his home was worth. Yes, if he's unbelievably lucky his buyer Will Not have a Buyers Agent, will pay him cash and will not get an appraisal - that's the real estate equivalent of winning the mega-millions lottery but, … (4 comments)
wilmington nc: Yes, You May Qualify For More Home Than You Can Afford!
- 11/05/11 01:19 PM
Yes, you may “qualify” for more home than you can “afford!” Even in today’s more complicated lending environment, it’s still common for lenders to “qualify” Buyer’s for more than they can “afford” because the lender is calculating debt to income ratios the same for everyone but individual lifestyle determines an affordable mortgage. Two Buyers with the same income and same debts might live very differently; Eating out is generally more costly than cooking at home.
Renting movies is less expensive than going to movies.
Running is a free hobby whereas golf can be … (4 comments)
In any given month fewer than 10% of listed homes are selling here. It follows suit that to be one of the 10%’s will require special effort and the right people involved!
This helpful post is worth sharing with you! Information courtesy of Beverly & John Femia – Contact us because, “With Us, It’s All About You!”
Compliments of Beverly Femia - Coastal Area Living in Hampstead, NC … (3 comments)
Several years ago, we listed a second row property in Hampstead, NC 28443, across the street from the Intracoastal Waterway. The home, a 40 year old brick ranch, was never built for views. To make it worse, the waterway home on the ICWW side had a leafy privacy screen. Yet, my client’s home was on higher ground and, in leafless seasons, permitted “water-peep” from outside. On the inside, if I stood in one or two spots and looked hard, I might glimpse blue water. … (4 comments)
wilmington nc: They Breached Their Contract!
- 10/28/11 08:17 AM
When the financial industry chose self-interest over the nation’s financial stability, they breached their contract with America. These institutions, guardians of the nation’s wealth, chose deceptive business practices as their prevalent business model. They chose the wrong path as clearly as any other bank robber and are, as surely, felons. That their greed was so self-consuming they were clueless to the national ramifications of their actions is both astonishing and frightening! How can we ever regain America’s financial security if a core industry already acknowledged as “Too Big To Fail,” is so out of touch with reality they no longer recognize … (6 comments)
wilmington nc: Wilmington, NC Area Ranks High as Place to Live, Play!
- 10/25/11 03:38 PM
The Wilmington Business Journal says Wilmington is enjoying positive press from several sources in national media outlets like Orbitz, Bloomberg Businessweek, and Outside magazine. Orbitz named Wilmington area beaches their top pick as a late-summer beach bargain. Bloomberg Businessweek ranked Wilmington, NC as the 7th most fun, affordable city in the US while Outside magazine ranks Wilmington 6 in their “Best Towns” list in the October issue. Such accolades provide great value to restaurants, hotels and a wide variety of retailers serving Wilmington area travelers. Best of all, they represent free advertising from credible unbiased sources and the value … (3 comments)
wilmington nc: Wilmington, NC’s Film Industry is Booming!
- 10/24/11 01:41 PM
The Wilmington, NC film industry is booming in 2011. More than $100 million will be spent on production this year up from $29 million in 2009. Wilmington is well prepared for its production success. The Wilmington EUE/Screen Gems facility is the largest production facility in the United States outside of California. In May 2009, EUE /Screen Gems Studios opened a 10th "Dream Stage" in Wilmington. This world-class, state-of-the-art studio is a 37,500-square-foot (3,480 m2) columnless structure with a 50x50x6 foot 90,000 gallon special effects water tank. The CW Network’s One Tree Hill filmed it’s 9th and final season this year … (0 comments)
wilmington nc: We Love Our Ship – The USS North Carolina at Wilmington, NC
- 10/23/11 02:59 PM
Oct 14 was the 50th anniversary of the day The USS North Carolina came up the Cape Fear River to berth in Wilmington, NC. She’s across the river from downtown and visible to all just as she might have looked when launched from the New York Naval Shipyard in 1940 nicknamed “Showboat!” She went to Pearl Harbor In 1942 and fought in every major battle in the World War II Pacific theater. She earned 15 battle stars downing 24 Japanese planes and bombarding Japanese strongholds 9 times. Of the 2195 enlisted men and 144 officers, only 67 were injured and … (1 comments)
wilmington nc: Corporations Are People Too !
- 10/17/11 04:29 PM
Recently it was said that, “corporations are people too!” But, faceless corporations aren’t going to seem like real people until we begin seeing real people held to account for our current financial disaster. Today’s economy can be traced directly back to the greed, ineptitude and malfeasance of this century’s robber barons – the financial institutions. Yes, 2008 was the tipping point but it didn’t start there. It began in the 80s when the government loosened the tight reins of bank regulation in place since the 30s for a reason. Yes, the great depression of the 20th century can be traced … (6 comments)
wilmington nc: When Did Self Control Fall Out of Fashion?
- 10/16/11 04:00 PM
A recent post started me thinking about the lack of self-control exhibited today. When did that start? When did it become more important to say whatever is on one’s mind rather than spare the other person’s feelings? I know I liked it better when people didn’t always say what was on their minds. The pretenses of politeness meant civility even when people strongly disagreed. What happened to counting to 10 before responding? Yes, self control is out of fashion today and we need to get it back! That’s because, in the absence of societal self-control, narcissism becomes the new normal! … (2 comments)
“Supersize me” has applications beyond fast food. Recently, I shopped for dining room furniture and found chairs bigger. In the armed “Captains” chair, I felt a bit like Lily Tomlin’s “Edith Ann.” It set me thinking about the trend toward larger in everything from fast food meals to homes.
Here in the Wilmington and Hampstead, NC area, our market is a long way from recovery but new construction is readily available. Our local production builders survived and, today, have their pick of large blocks of developed lots in failed neighborhoods. Builders build what buyer’s want and, today, in … (5 comments)
wilmington nc: Journey to Hampstead NC 28443 – A Northern Suburb of Wilmington 28411
- 10/08/11 03:10 PM
Hampstead, NC is a northern suburb of Wilmington, NC. The path of most cities is north, which guarantees that someday it won’t be obvious where Wilmington stops and Hampstead begins. That New Hanover County is so small, means development will accelerate when the economy is strong again. Today, the 8 mile stretch of 4 lane Highway 17 feels like a longer distance because there’s not much there. About 2 miles north of Wilmington we leave little New Hanover County and cross the county line to enter much larger Pender County. Before the real estate crash, there were several neighborhoods planned west of Hwy … (4 comments)
wilmington nc: When your “Home” is a House!
- 10/05/11 03:38 PM
When your “home” is for sale, you should think of it as a house. That’s a suggestion in the Sales Marketability Guide I provide my seller’s when I list their Hampstead and Wilmington homes. Using checklists, my sellers to go through their home house and assess its marketability. In the Guide, I propose that preparing a “home” for sale is harder than getting a house ready. I believe that the emotional context of “Home” encompasses more than the simple functions of living. We don’t buy a home for a place to eat and sleep. Homes are dream spaces where we interact with loved ones. … (8 comments)
wilmington nc: It's OK to Be Positive! Let's Talk About Positive Home Equity.
- 10/04/11 02:22 PM
It’s true not everyone is in trouble and underwater and that getting on with your life is worth something too. If you’re happy where you are and have no other place you would rather be tonight, that’s an ideal place. If you’re dreaming of another location let’s sit down and talk about how to realize your dream sooner rather than later! Brought to you By Beverly Femia of Wilmington,NC and Hamstead, NC - always reachable at 910-279-9794 - ww.CoastalAreaLiving.com Gabrielle Kamahele Rind at http://www.KGCPropertiesLLC.com As the interest rates hover at a low level, I hear more people talk about refinancing their … (2 comments)
wilmington nc: Myth is so powerful
- 10/04/11 06:15 AM
Myth is so powerful it explains the run up in home prices. Myth is so powerful it takes on life of its own and some memory seems to last forever. There are endless examples in history but the one I use to explain the housing boom is the CA gold rush lasting from 1848 to 1855. I think the gold rush a good analogy for the run up in home prices. It’s true buyers who jumped in toward the end of the boom found themselves in similar circumstances to miners who arrived late to CA - debt ridden and disappointed. Taking the power of myth … (2 comments)
wilmington nc: Is Your Tenant a Hoarder or …
- 09/29/11 05:54 AM
You’ll have to answer for yourself whether your tenant is a hoarder or, perhaps, something harder to explain. Jay Markanich’s feature post A Very Sad And Dangerous Inspection led to this one. Jay writes about inspecting a home the homeowner wished to condemn. The circumstances leading to this extended family occupying the home are not germane to my post but their manner of living cuts across a broader economic spectrum. It began in a neatly trimmed yard leading to a front door with a “Welcome Friends” sign. Normalcy ended when he pushed open the door sweeping trash behind to reveal … (0 comments)
wilmington nc: Wilmington North Carolina Where the Snow was Magical!
- 02/22/10 01:02 AM
Tonight I commented on Facebook about our magical snow day in Wilmington NC. A friend from the DC area assured me snow was not magical. She reminded me that, after getting 24" over the weekend and 8" just a few days later, "magical" would not be her description for the mess in northern VA. Their first storm of 2010 came just after the New Year and warranted lots of excitement and pictures. She's still posting pictures but the excitement is long gone and they're praying for spring. A relative from WV weighed in that she too was sick of snow. Here … (2 comments)
wilmington nc: The New Wilmington North Carolina Real Estate Market
- 01/03/10 07:50 AM
Today, at the beginning of the new decade, it's my pleasure announce The New Wilmington North Carolina Real Estate Market includes homes for sale to buyers who resigned to a life further inland. No longer should you think it impossible to live in a small jewel of a city located between the Atlantic Ocean and Cape Fear River. Falling home prices reopened the greater Wilmington area to budget conscious buyers. Here in 2010, whatever your budget parameters, you'll find property listings demonstrating your money goes much further in the Wilmington area than it did in 2007. Whether you wanted a small … (1 comments)
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Beverly Femia
Broker Realtor Stager - Greater Wilmington, NC Are
Most blame for today's housing market is rightly assigned to lenders. It's true, their low standards and poor qualification practices contributed mightily to where we are today. Yes, they could not have lowered standards on government secured loans without political complicity but lobbyists worked hard to create a wider market for lending. Further, there were unscrupulous firms offering loan products that made no sense. Recently I read a homeowners deed of trust several times attempting to understand their Option Arm mortgage. I gave up and cursed the mess we're in today. 
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