2nd Quarter 2012 Zip Code Report

The areas of focus in this local real estate market analysis were:

• Selling Price – The price the seller accepts for his or her house.
• Days on Market – The number of days a house remains for sale, from the listing date to the date the property is placed under contract.
• List Price – The amount of money a home is listed on the market.
• Median Price – The middle price of all the properties sold in the given time period.

What does Intracoastal Realty have in common with Michael Jordan, Mark Wahlberg, Terry Bradshaw, Nate Berkus, Rosie O’Donnell, Ricky Martin, Christina Aguilera, Rapper 50 Cent, and Jack Nicholson? Each of these celebrities has his/her home listed with an independent brokerage in Intracoastal Realty’s affiliate network, Luxury Portfolio — the luxury arm of Leading Real Estate Companies of the World® (LRE).  See photos of these celebrities homes.

Leading Real Estate Companies of the World® is a global network of more than 500 independent real estate firms like Intracoastal Realty, with 4,600 offices and 140,000 sales associates in 30 countries around the world. Its members dominate the list of the top 500 real estate firms in the United States and each is independently owned and operated – not a national real estate franchise

Intracoastal Realty has been a member of Leading Real Estate Companies since its inception. LRE provides its agents (and buyers and sellers) with marketing and sales resources from across the globe. These resources have helped Intracoastal Realty market and sell more $1 million+ properties than any other real estate firm in southeastern North Carolina, according to sales data available through the Multiple Listing Service.

“Intracoastal Realty is locally owned and operated and our local roots and market knowledge have made us the local market leader since we opened our business in 1976,” said Jim Wallace, Founder/CEO of Intracoastal Realty. “Over time, we’ve also developed a niche expertise in the high-end, luxury market. Owners of luxury homes want to work with realtors with experience selling homes valued at $1 million and up, and that’s what we provide.”

Luxury Portfolio International™ is the luxury face of Leading Real Estate Companies of the World®. The network now markets more than 25,000 of the world’s most luxurious homes annually. In 2005, Luxury Portfolio launched its award-winning website and in its first year featured more $1 million-plus residences than any other luxury real estate organization. Today, the website attracts more than 1.2 million high-net-worth visitors a year. By presenting a gallery of the finest luxury properties and brokerage worldwide, the LRE brand is recognized throughout the world as the luxury home market’s standard of excellence.

What is a Luxury Home?
A luxury home is generally defined as a property priced within the top 5-10% of a given real estate market. In most markets that is a home valued at $1 million+, and $2 to $3 million in some select markets. A luxury home may also have a unique quality or distinct feature that makes it stand out in the luxury home arena. In southeastern North Carolina, a luxury home is defined as one with a value of more than $1 million.

Facts about Luxury Portfolio International™
• Approximately one-third of LRE’s affiliates are high-end specialty firms – like Intracoastal Realty — that dominate the luxury market, and those firms comprise the Luxury Portfolio component of the network.
• According to industry estimates, Luxury Portfolio affiliates generate 30% more annual luxury home sales – over $70 billion – than their closest competitor.
• Luxury Portfolio affiliates have the highest-priced luxury homes for sale in many luxury real estate locations across the U.S. and the world.
• Luxury Portfolio has more top-producing sales professionals, the most top properties and more $1million-plus listings than any other luxury network.
• Luxury Portfolio has business alliances with Wall Street Journal, Unique Homes, American Express, Luxury Marketing Council, and others.
• The award-winning LuxuryPortfolio.com site has been recognized with the “Real Estate Standard of Excellence” award from the Web Marketing Association and an Official Honoree designation by the Webby Awards.

LRE markets properties in more than 45 states and 27 countries to website visitors from 200+ countries/territories every month. The website offers translation in nine languages, conversion to multiple currencies and a total inventory of available properties totaling almost $40 billion.

Established in 1976, Intracoastal Realty is the largest independent and locally owned and operated real estate brokerage firm in southeastern North Carolina. Services include real estate brokerage, property management and new homes marketing. Intracoastal Realty operates eight offices in Wilmington, Wrightsville Beach, Carolina Beach, Brunswick County and Topsail Beach. The company’s 250+ agents sold more than $406 million in residential properties in 2011.

The Energy Department estimates that half of a household’s overall energy usage goes toward heating and cooling costs. With the soaring temperatures, this summer could get pricey with rising energy costs. The good news is there are some easy ways to save on summer energy costs and keep your air conditioning running by following these simple tips around the house:

• Close the Shades – This will help keep your air conditioning unit maintain cooler temperatures. Sunny windows account for 40% of unwanted heat and can make your air conditioner work two to three times harder. 
• Clean the Filters- Clean and replace filters every month! This allows the system to run more efficiently.
• Unplug– Unplug your electronics when not in use so they don’t suck power out of outlets. Also note,that running an older refrigerator can use up to three times the energy of a modern one. Unplug any appliance when it’s not in use.
• Turn off lights. Turn lights off when exiting a room because they add to the heat in the home. Also consider replacing incandescent bulbs with energy efficient compact florescent lights (CFLs).
• Turn off the Oven–  Use an outdoor grill or the stove instead of the oven during the warmer months. Turning on the oven heats up the rest of the house, which forces your air conditioner to go into overdrive. Even better is cooking in your microwave; it uses two-thirds less energy than your stove.
• Program the Thermostat– Using a programmable thermostat can lead to annual savings of about 30%. Set the temperature higher for the hours you will be away from your home to reap the benefits. 78 degrees or higher is the recommended temperature to maximize on savings.
• Install Ceiling Fans– The use of ceiling fans can mean savings of around 25% on cooling costs and can make the temperature seem 10 degrees cooler.  Most fans have a switch to change the fan direction. Make sure ceiling fans are blowing downward (in a counter-clockwise direction) to send air past your body.
• Adjust the Water Heater– Cooler showers in the summertime will let you turn down the temperature setting for a few months. This will reduce energy costs and can save more than $50 a year. 
• Yearly Check Up– Have your air conditioning unit serviced once a year to make sure it is running efficiently.
• Plug Duct System Leaks- As much as 20 percent of the air moving through your home’s duct system is lost due to leaks and poor connections. Seal duct work using mastic sealant or metal tape and insulate all the ducts that you can access.
• Clean the dryer lint filter and check the outdoor vent opening- When lint slows the airflow, the dryer runs longer. When the vent is clogged, the clothes get a long and costly tumbling.
• Plant shade trees- Outside shade can reduce air conditioning costs 30%. Shade on the east and west is most important.