Happy 80th Birthday to Warren Buffett

2010-8-warrenbuffettWarren Buffett turns 80 today so it seems fitting to share some of his real estate investing knowledge. What an amazing man he is- doesn’t look like he is slowing down yet!

13 QUOTES FROM WARREN BUFFETT

    1. “Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”Translation: Today’s market fluctuations are your friend because they’ve scared off your competition…other investors. They’re also your friend because the fluctuations have caused there to be a flood of motivated sellers. And as any savvy investor knows, buying from motivated sellers is the only way to make it in this business.
    2. “Only when the tide goes out do you discover who’s been swimming naked.”Translation: Keep plenty of tools (investing techniques) in your tool belt so that you can adapt to a changing market. What worked best in 2005 doesn’t work best in 2008. Today, we’re seeing first hand that those with only one investing strategy are taking a beating.
    3. “Our favorite holding period is forever.”Translation: To build true long-term wealth, you must buy and hold properties.
    4. “Risk comes from not knowing what you’re doing.”Translation: Those who don’t know how to properly analyze, enter, and exit real estate transactions think today’s market is risky. Those who fully understand the intricacies of creative real estate investing continue to participate and profit.
    5. “I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.”Translation: Now’s the time to buy. In real estate and in life, it’s almost always best to act opposite to the crowd.
    6. “Wide diversification is only required when investors do not understand what they are doing.”Translation: Naive real estate investors are putting their money into stocks, bonds, and savings accounts right now. Smart investors continue to invest in real estate, and they’re picking up more bargains than ever.
    7. “Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.”Translation: If you’re concerned that you cannot sell for full value, then buy lower – at about 60% of value – and sell lower – at about 90% of value.
    8. “We will reject interesting opportunities rather than over-leverage our balance sheet.”Translation: Sometimes the best real estate deals are the ones you don’t make.
    9. “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”Translation: If you’re going to hold a property long term, it’s far better to buy a wonderful house at a fair price than a dump at a bargain.
    10. “A public-opinion poll is no substitute for thought.”Translation: Most Americans think that now is a risky time to get into real estate investing. Do they know more than you? Most likely not. Only a handful of Americans know the specific techniques for profiting in today’s market. Most Americans get their “investing tips” from the daily paper, not the best real estate source.
    11. “The most important quality for an investor is temperament, not intellect… You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.”Translation: Don’t worry what the masses are doing. Follow the advice of successful real estate investors, and use their techniques to profit in today’s market.
    12. “You ought to be able to explain why you’re taking the job you’re taking, why you’re making the investment you’re making, or whatever it may be. And if it can’t stand applying pencil to paper, you’d better think it through some more. And if you can’t write an intelligent answer to those questions, don’t do it.”Translation: Every deal must work on paper before it will ever work in real life.
    13. “I really like my life. I’ve arranged my life so that I can do what I want.”Translation: Remember, that’s what real estate investing is all about. Arranging your life so that you can do what you want to do when you want to do it.

Thanks to Doug Smith for this great list of quotes and translations.


Pleasure Island Events

Fireworks are every Thursday night with live entertainment; tonight features the Radio Flyer Band (beach).  Entertainment starts at 6:30pm.  Fireworks start at 9:00pm. Next week fireworks will be held on Thursday and Friday night due to the holiday weekend and end of season.  Friday night will be a double fireworks show. Thursday, Sept 2nd entertainment will be provided by Mojo Collins(blues) and Friday night, September 3rd will be Drew Smith Band (country).

Friday night, August 27th is the last free concert of the season held at Fort Fisher Military Recreation Area in Kure Beach and features Blind Lemon Pledge from 6:30pm-8:30pm.

Come and enjoy the Farmer’s Market every Saturday through October 9th from 8:00am-1:00pm. There are many varieties of specialty foods, items, etc.  There are even some things for your pets. Enjoy listening to music as you browse around.

Sunday Night is movie night at Carolina Beach Lake. This Sunday’s feature is “CLASSIC NIGHT” –Two Hours in the Dark, a Frank Capra short drama followed by Capra’s classic film Mr. Deeds Goes to Town.

Enjoy Family Night every Tuesday night at the boardwalk.  There are many enjoyable activities.

Mark your calendars for the 17th Annual Seafood, Blues and Jazz Festival for the weekend of Oct. 9th& 10th.

Real Estate – Pleasure Island had 19 new listings, 6 under contract, and 6 closed sales.

Weather – This weekend and all of the week to follow looks like the perfect beach with sunny skies and highs in the upper 80’s.


Pricing Pond

Are you receiving our monthly Real Estate Matters e-newsletter? The latest edition featured an article about the Pricing Pond. In an over-supplied market, there is a tendency for inventory to become stagnant and not have any interest from prospective buyers.  Successfully selling your home requires you to keep it in the flow of “Best Value” houses. Here is a visual that shows how the Pricing Pond works.  As always feel free to contact one of our exceptional agents to help answer questions you have about today’s market and pricing your home.

2010-8-Pricing-Pond

Pleasure Island Events and Updates

August 21st – Every Saturday the Farmers Market and Art Show are at Carolina Beach Lake from 8:00am to 1:00pm through October 9th.

August 22nd – Sunday Night is free movie at Carolina Beach Lake at 8:45pm through September 5th.  This week’s feature is The Pirates of the Caribbean.

August 24th – Tuesday is Boardwalk Family Blast Night with many fun activities.

August 25th – Wednesday is Cash Bingo night at the Boardwalk.

August 26th – Thursday Night is weekly fireworks with live entertainment.  This week’s entertainment is the Radio Flyer Band at the Gazebo and will begin at 6:30pm.  Fireworks start at 9:00pm.

Mark your calendars for the 17th Annual Seafood, Blues and Jazz Festival for the weekend of Oct. 9th & 10th.

Real Estate – Last week there were 15 new listings, 13 under contract, and 7 closed sales on the Island.

Weather – Come and enjoy the beach.  Tomorrow should be a fantastic beach day and the days to follow may have some scattered showers with sunshine in between. Come and see what Pleasure Island has to offer.

For more detailed information go to www.pleasureislandnc.org


2010 Heart Walk

Cardiovascular diseases, including strokes, impact far more people than just those who suffer from these diseases. As the No. 1 killer in the U.S. and even the world, cardiovascular diseases impact millions of families, friends and loved ones.  Embracing a healthier life is one of the best gifts we can give to ourselves and those we love. The American Heart Association wants to help you and millions of others make these lifestyle shifts become the “new normal”  by  partnering with you, to build a healthier, stronger legacy one heart at a time.

Intracoastal Realty has formed a team to walk in the 2010 Heart Walk and we’d love for you to join in to help raise funds for heart disease and stroke research/education. This is a great way to help create hope, inspire change and celebrate success.

2010-8-Heart-Walk-Logo2010 Heart Walk

When: Saturday, October 16, 2010

Where: UNCW Athletic Field

Registration begins: 9:00am

Walks begins: 10:00am


When to Call Your Real Estate Agent: The 7 R’s

Purchasing your home isn’t the only time to call on your real estate agent. In fact, there are 7 other instances where your real estate agent will have the answers you are looking for. Those instances are the “7 R’s.”

2010-8-7-RsYou’ll know when to call your real estate agent when you …

  • Relocate
  • Remodel
  • Repair
  • Re-Insure
  • Re-Finance
  • Re-Evaluate
  • Re-Assess

Pleasure Island News and Events

Friday, August 6thAmerican Legion Fish Fry (Carolina Beach)

Saturday, August 7th – Katie B. Hines Senior Center Pancake Breakfast.

Farmers Market & Art Show at Carolina Beach Lake from 8:00am to 1:00pm every Saturday until October 9th.

Free Movie Night at Carolina Beach Lake every Sunday night.  This week’s movie is Twilight New Moon.  Movie starts at 8:45pm.

Enjoy Family Night Every Tuesday.  Included are fun activities for kids, teens and adults that include karaoke, bouncy toys, line dancing, face painting, and much more! Be sure to bring the whole family out to enjoy these fun activities.

Every Wednesday night is Boardwalk Blast Cash Bingo and then enjoy Jazz Under the Stars.

Fireworks every Thursday night after the sun goes down.  Live entertainment begins at 6:30pm.

The next Free Summer Concert in Kure Beach will be held on August 13th and feature Jam Sandwich.

Real Estate – Last week there were 11 new listings, 6 under contract, and 9 sold.

Weather – Next week looks like the upper 80’s and possible scattered thunderstorms.  There is a lot to do on Pleasure Island, so come and join us at the beach.

For More Info on Pleasure Island go to www.pleasureislandnc.org


Reasons to Consider an FHA Mortgage

Did you know that FHA programs are available for higher costs areas as well? Here are the top 7 reasons to consider an FHA Mortgage:

  1. 2010-8-fha-299x300Loan Amounts
  2. Old Stigmas Are No Longer True
  3. Minimum Down Payment
  4. Source of funds
  5. For now at least, a 6% Seller’s Concession
  6. Leniency of Credit and Income Standards
  7. FHA Loans Are Assumable

To learn more about each reason see this link , visit theFHA website, or contact one of our agents for more info.