2012 Local Real Estate Market Analysis: 1st vs. 2nd Quarter

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.
Q2-2012-Zipcodes-rev

Intracoastal is Leader in Luxury Market

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.


Pleasure Island Events 7/28-8/3

Friday, July 27th – FREE Summer Concert featuring Beach Billy Brothers (Classic Rock & Roll) Food is allowed, however no pets or beverages are allowed. Beverages will be for sale. Concert is from 6:30 pm – 8:30 pm at the Ft. Fisher Air Force Recreation Area at 119 Riverfront Road in Kure Beach.

Sunday, July 29th – Free movie at Carolina Beach Lake – Big Miracle

Tuesday, July 31st – every Tuesday night is Family Night with lots of activities for kids.

Wednesday, Aug. 1st – Bingo every Wednesday night.

Thursday, Aug. 2nd – Fireworks at the boardwalk – featured band is Snack Cracker (Alternative modern rock)

Activities – There are many activities to enjoy on the island; biking, surfing, paddle boarding and riding bikes are just a few of the many things you can enjoy while visiting the island.

Real Estate – Pleasure Island had 16 new listings last week, 15 under contract, and 5 closed sales.

Weather –This weekend and next week will be sunny with highs in the mid 80’s and some scattered thunderstorms. It is a beautiful time of year to spend time at the beach. What better way to enjoy the sun and have fun than the beach!

For more information about Pleasure Island go to www.pleasureislandnc.org


Mystery Agent July 26, 2012

Intracoastal Realty Mystery Agent

Each week at our sales meeting we have a “Mystery Agent.” This gives us a chance to learn more about one of our colleagues that we may not have known otherwise.

  • Grew up in Upstate NY.
  • Attended the University of Rochester.
  • Played college Football and was a Javelin thrower for the track and field team.
  • Spent 7 years living in San Diego, CA.
  • Has made 4 solo cross country drives.
  • Member of the Society for Children’s Book Writers and Illustrators.
  • Assisted an injured hiker in a helicopter air rescue.
  • Enjoys NASCAR.
  • Spent 2 years as a Kindergarten Aide.
  • Taught HS Civics and Economics in Charlotte, NC.
  • Played in a poker tournament with Jerry Buss (owner of Lakers).
  • Has worked as a background/extra in movies and print – and was recently cast as a regular “Extra” in the new JJ Abrahms’ TV series “Revolution”, being shot here in Wilmington  (JJ Abrahms wrote & produced the TV series “Lost” as well as others)
  • Enjoys fishing, golfing, and hiking

 

Can you guess who the Mystery Agent is??

Darren Gaul Intracoastal Realty

Click on the photo for more info about our Mystery Agent Darren Gaul


Mystery Agent July 25, 2012

Intracoastal Realty Mystery Agent

Each week at our sales meeting we have a “Mystery Agent.” This gives us a chance to learn more about one of our colleagues that we may not have known otherwise.

  • Born and raised in the same home because my father moved 13 times and went to 12 different schools as a boy.
  • Backpacked through Europe for 3 weeks with two friends.
  • Snow Skied in the Swiss Alps.
  • Had a summer job in college building the boat docks for Register Place on Middle Sound Loop Rd.
  • Played soccer for UNCW.
  • Three time State Champion in Soccer.
  • Climbed a Volcano in Central America on horseback.
  • Enjoys Hunting and Gulf Stream fishing when I can afford it.
  • Started my Real Estate Career 8 years ago with Intracoastal right out of college.
  • Met my wife while both of us working for Intracoastal and can now proudly announce we are pregnant with our first child!

Can you guess who the Mystery Agent is??

Drew Pittman Intracoastal Realty

Click on the photo for more info about our Mystery Agent Drew Pittman


Tips to Save on Summer Energy Costs

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.

Mystery Agent

Intracoastal Realty Mystery Agent

Each week at our sales meeting we have a “Mystery Agent.” This gives us a chance to learn more about one of our colleagues that we may not have known otherwise.

  • Born in a town of only 5,000 people.
  • Escaped the small town and lived in 3 different cities of over 7 million.
  • Waited tables at a restaurant where tips ranged from $50 to $100 per table, but left this job to live on an island.
  • Found that living on an island is extremely boring…
  • Worked washing windows in high-rise buildings and never told the supervisor about my paralyzing fear of heights. Lasted a month on the job and didn’t get cured.
  • Twin teen-age daughters call me cheap because I refuse to spoil them. They still don’t know they will be getting their first jobs next summer…
  • I am the son and grandson of published writers, and find great pleasure in the creative process of story-telling. Sees career in real estate as a fantastic source of characters and situations for stories ranging from comedy to science fiction, and everything in between.
  • Avid soccer player, has played in the snow (while snowing) and at over 100 degrees with 90% humidity, still loved every minute of it.
  • As a good Spaniard, I prefer business meetings around a good meal.
  • I’m not the only one with an accent in this room!

Can you guess who the Mystery Agent is?

Juan Santos Intracoastal Realty

Click on the photo for more info about our Mystery Agent Juan Santos


Mystery Agent

Intracoastal Realty Mystery Agent

Each week at our sales meeting we have a “Mystery Agent.” This gives us a chance to learn more about one of our colleagues that we may not have known otherwise.

  • Born in Orlando, Fl and learned to swim at two years old.
  • Moved to Atlanta, GA and was diagnosed with asthma and allergies. Took allergy shots until 14, and thankfully grew out of them both as a teenager.
  • As a 22 year old, was approached by a photographer to photograph her legs for a major retailer’s house brand of hosiery. This small town girl had not heard of the company, only later discovered the major retailer was Target.
  • Lived in Atlanta, GA, Statesville NC, but was raised in Asheville, NC.
  • Attended UNCW, graduated with a degree in Communication Studies. Met her husband at UNCW, they graduated together in May of 1993 and got married in September ’93.
  • Shares the exact same birthday with her husband; January 26, 1971. She is 7 hours older though, giving her seniority.
  • She and her groom, have two boys, ages 13 and 11.
  • She loves Bible Study and teaching Sunday School…a miracle in itself because she found church quite boring as a child, only through knee deep Bible Study did she grow in her faith and discover her teaching gift.
  • She has caught more fish than she can count, but refuses to sit in the woods to hunt anything.
  • She can moonwalk; if given a smooth floor and socks… (Click moonwalk to see the video!!)

 

Can you guess who the Mystery Agent is??

Sherri Ingle Intracoastal Realty

Click on the photo for more info about our Mystery Agent Sherri Ingle


Pleasure Island Events 7/8-7/12

Sunday, July 8th – Free movie at Carolina Beach Lake – We Bought a Zoo

Friday, July 13th – FREE Summer Concert featuring BLP (Blues).
Food is allowed, however no pets or beverages are allowed. Beverages will be for sale. Concert is from 6:30 pm – 8:30 pm at the Ft. Fisher Air Force Recreation Area at 119 Riverfront Road in Kure Beach.

Tuesday, July 10th – every Tuesday night is Family Night with lots of activities for kids.

Wednesday, July 11th – Bingo every Wednesday night.

Thursday, July 12th – Fireworks at the boardwalk – featured band is the Mark Roberts Band (variety).

Activities – There are many activities to enjoy on the island; biking, surfing, paddle boarding and riding bikes are just a few of the many things you can enjoy while visiting the island.

Real Estate – Pleasure Island had 19 new listings last week, 6 under contract, and 12 closed sales.

Weather –This weekend will be in the low 90’s and next week will be sunny with highs in the mid 80’s and some isolated thunderstorms. It is a beautiful time of year to spend time at the beach. What better way to enjoy the sun and have fun than the beach!

For more information about Pleasure Island go to www.pleasureislandnc.org