910-279-9398 Download Our Brochure
  • Homes for sale in coastal southeastern NC

Posts Tagged ‘NC’

Low interest rates – Now is a good time to buy

Posted by

Mortgage Rates Remain at Historic Lows


The latest report from Freddie Mac shows that the 30-year fixed-rate mortgage averaged 3.61% last week, slightly down from the week before (3.66%), and nearly 20 points lower than a year ago (3.80%).

This is great news for homebuyers who are dealing with rising prices due to a low inventory of homes for sale in many areas of the country. Freddie Mac expressed their optimism for the rates to remain low throughout the spring in a recent blog post:

“We expect mortgage interest rates to stay well under 4% as we head into the heart of the spring homebuying season. We’re predicting it to be the best one in 10 years, which should provide even greater opportunities for first-time homebuyers.”

Below is a chart of the weekly average rates in 2016, according to Freddie Mac.

Mortgage Rates Remain at Historic Lows | Simplifying The Market

Rates have again fallen to historic lows yet many experts still expect them to increase in 2016. One thing we know for sure is that, according to Freddie Mac, current rates are the best they have been since last April.

Sean Becketti, Chief Economist for Freddie Mac recently explained:

“Since the start of February, mortgage rates have varied within a narrow range providing an extended period for house hunters to take advantage of historically low rates.”

Bottom Line

If you are thinking of buying your first home or moving up to your ultimate dream home, now is a great time to get a sensational rate on your mortgage. Let Coastal Realty Connections put their expertise and excellent customer service to work for you. Contact us today. info@coastalrealtyconnections.com / 910-279-9398.

Warren Buffett: There is No Housing Bubble. House Values to Rise.

Posted by

Warren Buffett: There is No Housing Bubble


With home prices expected to appreciate by over 5% this year, some are beginning to worry about a new housing bubble forming. Warren Buffet addressed this issue last week in an article by Fortune Magazine. He simply explained:

“I don’t see a nationwide bubble in real estate right now at all.”

Later, when questioned whether real estate and/or mortgaging could present the same challenges for the economy as they did in 2008, Buffet said:

“I don’t think we will have a repeat of that.”

What factors are driving home prices up?

It is easily explained by the theory of supply and demand. There is a lack of housing inventory for sale while demand for that inventory is very strong. According to a recent survey of agents by the National Association of Realtors (NAR), buyer traffic was seen as either “strong” or “very strong” in 44 of the 50 states (the exceptions being: Alaska, Wyoming, North Dakota, West Virginia, Connecticut and Delaware).

Also, in NAR’s latest Pending Home Sales Report, it was revealed that the index was the highest it has been in a year.

What does the future bring?

As prices rise, more families will have increased equity in their homes which will enable them to put their home on the market. As more listings come to market, price increases should slow to more normal levels.

Anand Nallathambi, President & CEO of CoreLogic, recently addressed the issue:

“Home price gains have clearly been a driving force in building positive equity for homeowners. Longer term, we anticipate a better balance of supply and demand in many markets which will help sustain healthy & affordable home values into the future.”

Let the agents at Coastal Realty Connections help you buy or sell. Contact us for a free valuation of your property’s worth or for assistance in finding just the right home for you. 910-279-9398.

Why it Makes Sense to Buy A Primary & Second Home

Posted by

Billionaire: Buy a Home… And if You Can, Buy a Second Home!


Three years ago, John Paulson gave a keynote address at the CNBC/Institutional Investor Conference. In his speech, he told those in attendance that he believes housing will continue its strong recovery for the next 4 to 7 years, saying that:

“The housing market has bottomed. It’s not too late to get involved. I still think buying a home is the best investment any individual can make. Affordability is still at an all-time high.”

When asked how the average person could take advantage of the current real estate market at the time, Paulson said:

“Buy a home and, if you can, buy a second home.”

Two years ago, Paulson reiterated his statement, saying:

“I still think, from an individual perspective, the best deal investment you can make is to buy a primary residence that you’re the owner-occupier of.”

Who is John Paulson and why should you listen to him?

Paulson is the person who, back in 2005 & 2006, made a fortune betting that the subprime mortgage mess would cause the real estate market to collapse. He understands how the housing market works and knows when to buy and when to sell.

What do others think of Paulson?

According to Forbes, John Paulson is:

“A multibillionaire hedge fund operator and the investment genius.”

According to the Wall Street Journal, Paulson is:

“A hedge fund tycoon who made his name, and a fortune, betting against subprime mortgages when no one else even knew what they were.” 

So… Is what he said still true?

The core reasons behind Paulson’s statements still ring true today, but why does he believe homeownership is such a great investment?

Paulson broke down the math of homeownership as an investment:

1. “Today financing costs are extraordinarily low.”

The latest numbers from Freddie Mac show us that you can still get a 30-year mortgage at historically low rates of under 4%.

2. “And if you put down, let’s say, 10 percent and the house is up 5 percent,” as many experts predict, “then you would be up 50 percent on your investment.”

How many are seeing a 50% return on a cash investment right now?

Paulson goes on to compare the long term financial benefits of owning versus renting:

3. “And you’ve locked in the cost over the next 30 years. And today the cost of owning is somewhat less than the cost of renting. And if you rent, the rent goes up every year. But if you buy a 30-year mortgage, the cost is fixed.”

Bottom Line

Whenever a billionaire gives investment advice, people usually clamor to hear it. This billionaire gave simple advice – if you don’t yet live in your own home, go buy one.

Let the team at Coastal Realty Connections help you find the right primary or second home. Specializing in coastal real estate from New Bern, North Carolina to the beaches of Brunswick County. Contact us today and let us put our knowledge to work for you.

Could it be a sellers market again?

Posted by

Over Half of Americans Planning on Buying in the Next 5 Years

Over Half of Americans Planning on Buying in the Next 5 Years | Simplifying The Market

According to the BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said that they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. The report also included other interesting revelations.

Those Looking to Buy

  • 74% of those looking to buy a new home will consult with a real estate agent
  • 59% said they will visit online real estate websites
  • 37% will seek recommendations from friends and family
  • 78% plan to get pre-approved before seriously searching for a home

 Those Who Already Own

  • 75% of current homeowners set a budget before looking for a home, and 16% ended up spending less while 13% went over their budget.
  • 63% of American homeowners spent under six months looking for a new home before they made a purchase.
  • 8% bought their home without participating in an active real estate search – or even any plan to buy at all – because a specific property caught their attention.

The last point is very interesting: Of those who purchased a home, 8% bought “without any plan to buy at all”.  A property caught their attention and they acted on it.

Why Are More People Not Planning Their Next Move?

Why are people that are considering a move not putting their home search to a plan, and instead, buying only when a property catches their attention? An article by Fannie Mae reveals evidence that a large number of homeowners are dramatically underestimating the equity they have in their current home. The report explains that:

“Homeowners may be underestimating their home equity. In particular, if homeowners believe that large down payments are now required to purchase a home, then widespread, large underestimates of their home equity could be deterring them from applying for mortgages, selling their homes, and buying different homes.”

Bottom Line

Let’s meet up to determine the actual equity you have in your house and to take a look at the opportunities that currently exist in the real estate market. This may be the perfect time to move-up, move-down or buy that vacation home your family has always wanted.

Wilmington NC Home Sales Jump 13 Percent

Posted by


Wilmington NC Home Sales Increase 13%

Wilmington NC home sales finished last year with an increase of nearly 13 percent over 2014, according to statistics released Monday by the Wilmington Regional Association of Realtors.

The number of Wilmington NC home sales increased by 849 in 2015, from 6,555 to 7,404 in a nearly 13 percent jump, as buyers took advantage of historically low interest rates in a market where some price points are in shorter supply. The figure is the highest year-end number for units sold since 2006, WRAR’s Multiple Listing Service statistics show.

“We’re gaining ground,” said Don Harris, the 2016 president of WRAR.

He said he expects the direction to continue this year. “Interest rates are still low,” Harris said, noting a recent quote of 4.125 percent.

The rates for Wilmington NC home sales are forecast to increase a little, possibly by the fourth quarter of this year, he said. (more…)

Most affordable NC housing markets

Posted by



Coastal Realty Connections

According to Coldwell Banker’s annual Home Listing Report, Ocean Isle Beach costs the most, while Elizabeth City is the most affordable housing market.  The report uses average listing price of a four-bedroom, two-bathroom home over 2,700 US markets. The report shows that an average home price for a four-bedroom, two-bathroom home in North Carolina is $232,748. Within our area the beach communities of Ocean Isle Beach, Sunset Beach, Oak Island, Topsail Beach area, Wilmington and Winnabow all fall above the average.


Selecting The Right Retirement Community

Posted by

4b5f527d172ec62d74822ae28c2f35dfWhen thinking about retirement, choosing a location can be an overwhelming decision.  How do you narrow down the choices?  The very best place to retire for you might be on a beach…or in the mountains…or near family…or in the same house you’ve lived in for years. It’s a personal decision that no one else can make for you. However, if you haven’t already settled on a retirement destination, an objective analysis of your options can help narrow your search.

In order to get started, we suggest that you start by thinking about the lifestyle you are looking for.  Remember to take into account that you may not need to be close to “work” anymore.  The time you used to spend commuting and working will be “free time” now.  So if you don’t have to be close to work, what services and recreation do you really need to be close to?  The beach, golf courses, nature, marina access and grand kids are some of the responses we hear when talking to clients ready to retire.  Some of the other topics that may be of equal importance are climate (4 seasons), proximity to an airport, healthcare, cost of living and tax benefits.  All of these points of interest are reasons that so many “Baby Boomers” are choosing to move to North Carolina.

Once you have selected the area of the country, trying to find the perfect spot that offers everything you want may still prove to be difficult.  Geared towards retirees, many developers have opted to design planned communities which offer location, amenities and an active lifestyle.  Define “active”, it means something different to almost everyone which is why you will find planned neighborhoods with equestrian centers, marinas, golf courses, spas, airplane runways, racquet clubs, golf cart only islands, dog parks, community gardens, dining and shopping.  With all of these options, no wonder people can be overwhelmed.  From my experience the most common question when discussing retirement location is “how will I meet new friends”? Leaving an area where you have worked and raised a family, the relationships and ties to that area can be hard to relinquish.  One thing is certain though, moving into a planned community will give you so many opportunities to make new life-long friends.  Social clubs and events are the best part of planned communities and the best way to find people with similar interests.  Retirement is called the “golden years” for a reason!  It should be the best time, totally dedicated to you and what you love to do, even if it is sitting on your porch reading a book.

Now you have decided on the area and type of lifestyle you want, it is time to visit that area and explore the possibilities.  Be flexible and adventurous!  Get out and meet the locals.  Ask them what they enjoy most about living there.  If you golf, schedule a tee time and request to play with members so that you have another opportunity to get information from someone that has been in your shoes.  It is also important to talk to a local REALTOR.  This is where you will get the best area info, tax rates, home values and the “ins and outs” of the area.   REALTORS can also represent your interests as the buyer, when visiting planned communities.  What most buyers don’t realize is that when you walk into an onsite sales office, those sales agents represent the seller, not you.  Protecting your interests and personal information is the best and main reason that people elect to use REALTORS for buying homes.  Don’t we all want our own personal advocate?  A REALTOR has a duty to the client they are representing and that relationship can greatly benefit a buyer.  Be open and honest about your goals for your new home and listen to suggestions and comments from your REALTOR.  Once you have brought your REALTOR up to speed, jump in the car and visit some of the communities that meet your criteria.  Don’t be afraid to ask questions or say no to something that doesn’t interest you.  As you visit these neighborhoods, walk through model homes and share your thoughts on design, lay out, size and location.  Sometimes seeing what you don’t want will solidify in your mind what you do want.  Visit the amenities in the community, ask about the Home Owners Association Bylaws and Dues so you have an idea of your financial commitment above and beyond the price of your home. When you think you have found the perfect community learn about the proximity to the services that are most important to you.  If you still have the warm and fuzzies then start looking more specifically at homes or house plans that you can customize.  This is really where all the fun begins!southport-03


Waterfront Home Open House September 30

Posted by


Open House Wednesday September 30

11:30 a.m. – 1:30 p.m.

Pizza and pasta lunch will be provided

Also enjoy a tasty treat from the  Side Street Bakery

**Register to win 1 of 2 $50 Visa Gift Cards

5952 Dutchman Creek Road

This beautiful, meticulously maintained marsh front home has panoramic views of Dutchman Creek, tidal marshes, ICW and distant Caswell Beach. Architect designed plan with full living quarters, kitchen, dining and master suite on the first level. Direct access to the open deck, spacious screened porch and a relaxing sunroom completes the spa package. Two further bedrooms and bathroom on the upper level create a totally private family or guest area, complete with a study area and ample storage.

MLS# 686658
Listing Agent: Donald Howarth
Cell: 910-279-9398
Email: Donald@coastalrealtyconnections.com

See more about this  home. 

North Carolina Marinas

Posted by

Graphic Marina add economy blog (2) In a recent article by the Southport Stateport Pilot‘s Staff Writer Lee Hinnant, he highlights the ways in which marinas contribute to the local economy.

More than just places to tie-up and buy fuel and ice, marinas are substantial contributors to the economy and gateways to some of the nest spots on the Cape Feat coast.

With thriving restaurants, an inn, real estate sales and other businesses, Bald Head Island Marina is like a second village square. Everyone who visits the island passes through, wither on private boats or the large passenger ferries.

At South Harbor Village in Oak Island, the marina helps support two large restaurants and several small businesses overlooking the water. Just up the Intracoastal Waterway at St. James, the marina anchors a market, restaurant and Tiki hut. One of the area’s top seafood restaurants and a motel overlook Blue Water Point Marina. At the heart of it all is Southport Marina. During the past decade, Preston Development has turned what was an aging marina into a first class facility that has garnered numerous awards. There are 10 full-time employees and two part-time workers. Businesses based at Southport Marina include a boat brokerage, a boating club, a boat rental company, a sail supplier and an American Sailing Association-certified sailing academy. Seven charter Companies and Zimmerman Marine Service also call the marina home.

There’s a waiting list for the boat dry stack and manager Hank Whitley said that’s no happy accident. “We’ve put a lot of effort, headache and heartache to do it right,” he said. “It’s a big deal for us and a major revenue stream to bring folks from elsewhere.”

The boaters who stayed at Southport Marina less than a month increased by about 150 last year to more than 1,500. Whitley estimates that one-quarter of the marina’s business is with transients. “We think of ourselves at concierges,” Whitley said. “The biggest thing about the impact is that just about every single one of them want to go out and eat somewhere in town.” The visitors who boat to Southport also need provisions, fuel and marine parts and services.

“It’s the same thing as a hotel,” said Cindy Brochure, tourism director for the City of Southport. “If they like you they will come back.” Brochure said the marina’s awards and favorable mention in publications such as Sail Magazine have helped introduce Southport to many newcomers. “We have big-city amenities in a small town. It’s an economic boost when these people come in.” Brochure called the area marinas “a year around economic development tool” and said her office enjoys handing out information about the community. “It’s like having a stop on the interstate highway” she said.

A 2008 study of the southeastern region of NC stated that marinas employed 783 people and had a secondary economic impact of $305-million in sales.

Real Estate Trend – Mancaves versus Woman Caves

Posted by

Southport Real Estate, mangaves, Coastal Realty, Coastal Realty Connections.

Southport Real Estate, mangaves, Coastal Realty, Coastal Realty Connections.

Move over Man Caves, “She Sheds” are taking storm now! Alright ladies, if you’ve just about had it with the man cave trend that’s been taking the industry by storm the last few years, it’s time to put your foot down and demand your very own space. And no, we’re not talking about your bedroom sanctuary that hosts a reading nook where you can go to escape the daily grind and lose yourself in a good book. We’re talking “she sheds.”

It may sound silly, but she sheds are popping up in backyards across the nation as women look outside the confines of their own home for a space that’s all theirs. It’s the (totally acceptable?) grown up version of claiming a space and then posting a ‘no boys allowed’ sign prominently on the door.

Much like pub sheds, “she sheds” are the latest craze in the battle to add a touch of personality to any and every space. Whether you’re looking for a tranquil environment to practice yoga, a quiet space to work on your writing or just a place to get away from the stresses that come with your day-to-day routine, “she sheds” run the gamut from rustic to extravagant.

Need a little inspiration? Check out the pictures that we found on the Lighter Side of Real Estate site and start planning what your “she shed” will look like today!

Lighter Side of Real Estate