Intracoastal Realty Acquires Bald Head Island Limited, LLC Sales and Rentals

Bald Head Island, NC (February 18, 2020) – Bald Head Island Limited, LLC and Intracoastal Realty Corporation are pleased to announce the sale of Bald Head Island Limited, LLC’s  residential real estate brokerage sales and vacation rental-property management businesses to Intracoastal Realty Corporation, and the opening of Intracoastal Realty offices on Bald Head Island.

In addition to Intracoastal Realty’s purchase of Bald Head Island Limited, LLC’s residential real estate brokerage sales and vacation rental-property management operations, the transaction will comprise the purchase or lease of several properties on the island, including the real estate brokerage sales office at 4 Marina Wynd near the island’s ferry landing; the vacation rental-property management laundry/housekeeping facility located on Edward Teach Wynd Extension; and part of the Island Chandler building at 6 Marina Wynd, which currently houses the vacation rental-property management office. The sale is expected to close on or around February 24, 2020.

Intracoastal Realty’s residential real estate brokerage sales office on the island will be managed by Ken Mowbray, previously broker-in-charge for Bald Head Island Limited Real Estate Sales. Rob Wright and Wendy Irick, broker-in-charge and general manager for Bald Head Island Limited Property Management, respectively, will work for Intracoastal Realty on the island in their same roles. Bald Head Island Limited, LLC will continue to own and conduct developer real estate sales and operations on the island, including the Southern Living Inspired Community at Cape Fear Station.

“Intracoastal Realty’s expanded presence on Bald Head Island creates a sustainable third-party residential real estate brokerage sales and vacation rental-property management platform positioned for growth,” said Chad Paul, CEO for Bald Head Island Limited, LLC. “The strength of the Intracoastal Realty brand, their global reach, and the company’s proven success in the region’s residential real estate brokerage and vacation rental-property management markets is an unbeatable combination for serving the island’s current and future needs,” Paul said.

Led by Founder/CEO Jim Wallace and his son Trey Wallace, president, Intracoastal Realty operates 14 other real estate brokerage offices in Brunswick, New Hanover and Pender Counties. The company’s real estate sales volume for 2019 was approximately $1.2 billion.

Trey Wallace (left), Jim Wallace, and Chad Paul

Trey Wallace stated Intracoastal Realty is poised to come out of the gate strong, but deliberate. “In the coming months, we’ll be working with Bald Head Island Limited’s team to seamlessly transition the residential real estate brokerage and vacation rental-property management businesses onto our operations and marketing platforms. The process will be gradual as we look to marry the best aspects of both companies and leverage Bald Head Island Limited, LLC’s tremendous employee talent pool,” said Wallace.

“This sale furthers Bald Head Island Limited’s goal of transitioning legacy assets to a diverse and competent group of third-party owners, operators and stakeholders,” said Paul. “With Bald Head Island in a mature phase of development, continued diversification of business ownership supports the island’s long-term health and viability.”

“This is a relationship business, and it’s not only about relationships with your clients, but also relationships with your agents, employees and the community as a whole,” Wallace said. “Our company is committed to serving the entire Bald Head Island community for the long term. Ultimately, our objective is to become the market leader in residential real estate brokerage sales and vacation rental-property management on the island, one relationship at a time.”

“Bald Head Island property owners couldn’t ask for a better residential real estate brokerage steward than Intracoastal Realty,” said Paul. “They have an outstanding reputation for integrity and real estate sales success and are committed to serving the island’s needs for decades to come.”

About Bald Head Island

Bald Head Island is a ferry-accessed community located two miles off the coast of Southport, NC. Transportation on the island is restricted to golf carts, bicycles and pedestrian traffic. Of the island’s 12,000 acres, 10,000 acres of beaches, salt marsh and maritime forest are protected and will remain undeveloped. To learn more about the island, visit baldheadisland.com.

About Intracoastal Realty

Intracoastal Realty is a full-service real estate brokerage specializing in residential real estate, property management (long-term and vacation), and project development. Founded in 1976, the company now has more than 400 agents and has grown to become coastal North Carolina’s largest independent real estate firm. Market-leading technology, strategic marketing, and a teamwork approach are Intracoastal trademarks. As an independent brokerage, Intracoastal invests its revenue into technology, marketing, agent training, and community organizations throughout southeastern North Carolina. Through its affiliation with Leading Real Estate Companies of the World®, Luxury Portfolio International® and Mayfair International Realty, Intracoastal delivers turn-key service to clients locally and globally. For more information, visit IntracoastalRealty.com.


Lanier Property Group Merges with Intracoastal Realty

Lanier Property Group, a top-selling independent real estate firm based in Wilmington, NC announced Tuesday that it has merged with Intracoastal Realty – the largest independent real estate brokerage in Southeastern North Carolina. 

Stephanie Lanier (co-owner of Lanier Property Group) and the firm’s agents will continue to operate in their team model under the Intracoastal Realty brand.  The merger of the two family owned and operated independent brokerages allows Lanier Property Group’s agents access to valuable marketing, technology, and training tools that positions them for great success. 

Stephanie Lanier

“Intracoastal Realty is the top real estate brand in the area.  As a local independent firm, we never considered joining forces with anyone else.  With very similar company cultures, existing friendships among our two firm’s agents, as well as a deep commitment to giving back to our community, the merger is the perfect fit,” said Stephanie Lanier.

Intracoastal’s deep roots and global reach position the Lanier Property Group’s agents and clients with the greatest opportunities in a strong market.  “With the power of Intracoastal behind us, we will bring a new level of service to our luxury buyers and world-class exposure to our sellers. We are truly honored to join the Intracoastal family, to be a part of their incredible legacy in our region, and to be a part of their continued growth as the dominant force in our real estate market,” Lanier said.

Trey Wallace, President of Intracoastal Realty said, “We are so excited to welcome Stephanie and the agents at Lanier Property Group into our family.  I have known Stephanie for many years and she and her team are the types of real estate professionals that raise the bar in our industry through an extraordinary commitment to white glove service for their clients.”  

As a result of the merger, Intracoastal Realty is positioned to be an even stronger advocate for buyers and sellers in midtown, which has become increasingly sought after by homeowners due to the explosive growth of restaurants, services, and activities in the area.  “Stephanie and her team have built a great company and a great brand.  I am eager to marry the best aspects of both firms to better serve our clients and our community,” Wallace said.

About Intracoastal Realty: Intracoastal Realty, founded in Wilmington, NC in 1976, has grown to become coastal North Carolina’s largest independent real estate firm.  Market-leading technology, strategic marketing, and a teamwork approach are Intracoastal trademarks. As an independent brokerage, Intracoastal invests its revenue into technology, marketing, agent training, and community organizations throughout southeastern North Carolina. Through its affiliation with Leading Real Estate Companies of the World, Intracoastal delivers turn-key service to clients locally and globally.

About Lanier Property Group: Lanier Property Group was founded in 2012 as an independent, family owned and operated boutique real estate firm in Wilmington, NC. The firm specifically focuses on the rapidly growing midtown area of Wilmington and is well known for putting midtown on the map in 2015. With a small team of highly productive agents they have built a loyal client base with 250 five-star reviews, an enthusiastic social media following and award-winning marketing strategies.


Brexit Update: Bouncing Back

Nick Churton of London-based Mayfair International Realty (an affiliate of Intracoastal Realty) reports on the awakening of the real estate market in the UK capital.

There is excellent news for U.S.-dollar buyers in London. They will now find the lowest real estate prices in the UK capital for many years. Average prices in central London have fallen by about 20 percent since the last peak in 2014. With currency exchange factored in, dollar buyers today gain by about 38 percent compared to five years ago.

All this comes at a time when there is a bounce in the step of property buyers in London. Since the decisive general election victory in December by Boris Johnson and his Conservative party, the uncertainty that had hung like a large gloomy cloud around the Brexit question has been lifted. The real estate community went from despair to delight in the course of a dramatic election night. Call it a Boris or Brexit bounce, but there was an immediate re-engagement in the real estate sector. That early interest continues unabated. Now pundits are even boldly forecasting a price rise of up to 10 percent during 2020.

Highlighting this newfound excitement is the sale of a Knightsbridge mansion to a Chinese buyer for a reputed $365 million – making it the most expensive property sale in the UK. The purchase of this 60,000 sq. ft. home emphasises the attraction central London has for overseas buyers. This global destination for the wealthy of the wealthiest, attracted by commerce, fashion, culture, law, medicine, education, and finance, is most certainly back in business.

London and the rest of the UK look forward to a spring property market with a big bounce in its step.

Nick Churton and Annette Reeve, Mayfair International Realty representatives, run Intracoastal Realty’s London Office and are frequent visitors to the Greater Wilmington area.


Absorption Reports – 4th Quarter 2019

Absorption rate, also referred to as “inventory levels” or “months of supply”, gives you an idea of the number of months it will take for the current inventory to be sold out based on the last 12 months of sales.

Housing prices stabilize when supply and demand come closer together. Generally speaking, 5-6 months of supply is “normal”. Less than 5 months of supply will result in appreciating home prices (Seller’s Market), while 7 months or more of supply will result in depreciating home prices (Buyer’s Market).

Following the 4th Quarter of 2019, New Hanover County is showing a total of 1.8 months of inventory for existing home sales (for comparative purposes, it peaked at 22.6 months in 2009); Brunswick County is at 3.4 months (peaked at 20.0 months in 2009); and Pender County is at 3.4 months (peaked at 22.1 months in 2009).

As you can see from the three county charts below, inventory levels vary by price segment.  Take a look at the absorption reports for a better idea of where your house stands in the market, and contact an Intracoastal Realty agent to learn about the supply and demand for your specific neighborhood.

New Hanover County


Brunswick County


Pender County


The Market Place Academy is now Intracoastal Real Estate Academy

Intracoastal Realty recently acquired local real estate school The Market Place Academy, which was founded in Wilmington, NC by Phillip Galloway in 1991.  The school was officially renamed Intracoastal Real Estate Academy on January 20th, and is positioned to offer enhanced educational services to existing and prospective real estate agents.

The instructors at Intracoastal Real Estate Academy have combined for over 50 years of teaching experience.  Among the instructors is Galloway, whose previous company boasted the highest pass rate for pre-licensing classes in 2019 in the local area, according to the North Carolina Real Estate Commission.

At the helm of the new school is Stephanie Fessel, who also serves as the Vice President of Education for Intracoastal Realty.  “Education has always been the foundational pillar of Intracoastal Realty, and that will continue to be a major focus for the company going forward into the new decade,” Fessel said.  “Intracoastal Real Estate Academy will uphold Galloway’s heritage of providing exceptional educational instruction.  The school has some of North Carolina’s most respected real estate instructors, in addition to the support, resources, and prestige behind the Intracoastal Realty brand.  We believe this winning combination brings value to our local REALTOR® community and those seeking to get their real estate license.” The all-new website contains resources and class information for pre-licensing, post-licensing, and continuing education.  Visit the all-new website, IREAcademy.com, for more information.


How Brexit Could Positively Impact Our Local Real Estate Market

Nick Churton of Mayfair International Realty (an affiliate of Intracoastal Realty) looks at how a recent election in the UK has cleared the way for more real estate buying in the U.S.

In a surprisingly decisive vote, the UK chose Brexit – again. In December, Boris Johnson led his Conservative Party to general election victory with an unexpectedly large majority. This result secured him the numbers needed to carry through his promise to “get Brexit done” – an election trope that will join the list of the world’s most effective, such as “it’s the economy, stupid” and “there you go again”.

What this means for real estate markets remains to be seen. But there are signs that buyers and sellers in the UK, weary from three years of political uncertainty, are once again daring to dream of their next home.

There remain uncertainties: the UK still has a lot of work to do clinching worldwide trade deals, and no one is certain what arrangements there will be with the European Union concerning rights for UK home buyers and owners in countries such as France and Spain. It does seem likely, however, that there will be residency restrictions affecting the number of months Brits will be able to live in European Union countries each year.

These restrictions also affect UK buyers and vacation homeowners in the U.S. But up to now the attraction of Europe has been the length of continuous residency available. Now that could change, and Europe may have near parity with the U.S. in these restrictions, so more Brits could look for property across the Atlantic rather than across the English Channel. The shared language, the high standard of American homes and the exciting way of life are just three significant attractions.

With the UK’s trading horizons extended, there will be more Brits buying abroad for business and employment purposes, bringing the U.S. into sharp focus for UK homebuyers.

All this won’t happen overnight. But it is the way the international real estate market works. The economic climate, fiscal measures, employment, and political uncertainties all combine to alter national priorities. One year it is the Russians who are buying, then the Venezuelans and Brazilians, only for them to disappear and leave the field open to another nationality or two. It is the ebb and flow of the international real estate market.

Once again this year Annette Reeve and I will be on hand to help UK buyers, and other national buyers, transiting through the UK capital to find suitable homes and investment properties in Southeastern North Carolina. May we wish you a happy and prosperous 2020.

Nick Churton and Annette Reeve of Mayfair International Realty, run Intracoastal Realty’s London Office and are frequent visitors to the Greater Wilmington area.

Nick and Annette during a recent visit, and a tour of an Intracoastal Realty listing on Figure Eight Island.

Absorption Reports – 3rd Quarter 2019

Absorption rate, also referred to as “inventory levels” or “months of supply”, gives you an idea of the number of months it will take for the current inventory to be sold out based on the last 12 months of sales.

Housing prices stabilize when supply and demand come closer together. Generally speaking, 5-6 months of supply is “normal”. Less than 5 months of supply will result in appreciating home prices (Seller’s Market), while 7 months or more of supply will result in depreciating home prices (Buyer’s Market).

Following the 3rd Quarter of 2019, New Hanover County is showing a total of 2.1 months of inventory for existing home sales (for comparative purposes, it peaked at 22.6 months in 2009); Brunswick County is at 3.4 months (peaked at 20.0 months in 2009); and Pender County is at 3.1 months (peaked at 22.1 months in 2009).

As you can see from the three county charts below, inventory levels vary by price segment.  Take a look at the absorption reports for a better idea of where your house stands in the market, and contact an Intracoastal Realty agent to learn about the supply and demand for your specific neighborhood.

New Hanover County


Brunswick County


Pender County


Absorption Reports – 2nd Quarter 2019

Absorption rate, also referred to as “inventory levels” or “months of supply”, gives you an idea of the number of months it will take for the current inventory to be sold out based on the last 12 months of sales.

Housing prices stabilize when supply and demand come closer together. Generally speaking, 5-6 months of supply is “normal”. Less than 5 months of supply will result in appreciating home prices (Seller’s Market), while 7 months or more of supply will result in depreciating home prices (Buyer’s Market). 

Following the 2nd Quarter of 2019, New Hanover County is showing a total of 2.4 months of inventory for existing home sales (for comparative purposes, it peaked at 22.6 months in 2009); Brunswick County is at 4.4 months (peaked at 20.0 months in 2009); and Pender County is at 3.7 months (peaked at 22.1 months in 2009).

As you can see from the three county charts below, inventory levels vary by price segment.  Take a look at the absorption reports for a better idea of where your house stands in the market, and contact an Intracoastal Realty agent to learn about the supply and demand for your specific neighborhood.

New Hanover County

Brunswick County

Pender County


Intracoastal Realty Listing Selected as Finalist in HGTV Ultimate House Hunt 2019

A listing represented by Lynne Galloway with The Mitchell-Lewis Group of Intracoastal Realty has been selected as a finalist in the HGTV Ultimate House Hunt 2019. The Ultimate House Hunt is a month-long online promotion held each year on HGTV.com, featuring extraordinary homes for sale in eight categories: Amazing Kitchens, Big City Digs, Countryside Retreats, Curb Appeal, Homes with a History, Modern Masterpieces, Outdoor Escapes and Waterfront Homes.

All featured homes are represented by members of Leading Real Estate Companies of the World® and Luxury Portfolio International®. This is the eighth consecutive year HGTV has aligned exclusively with Leading Real Estate Companies of the World® and Luxury Portfolio International® for the popular awards, which run from June 12 through July 17. Last year’s promotion was the most popular in the award’s history.

The Intracoastal Realty listing was selected by HGTV’s editors as a finalist in the Waterfront Homes category.

The home is located on Banks Channel in Wrightsville Beach.  From the eco-friendly features like on-demand hot water heater and solar panels to the A-series windows and doors, Mukulungu tropical hardwood decking, multiple storage areas, and open living area of the exterior to the refined finishes of the interior featuring Wolfe and Miele appliances, Hansgrohe plumbing fixtures, Haiku fans, tongue-and-groove poplar walls w/vaulted poplar ceilings, and custom walk-in closets, this home checks every imaginable design or function box.

“As an affiliate of Leading Real Estate Companies of the World, Intracoastal Realty is often presented with incredible marketing opportunites,” said Lake Slacum, Intracoastal Realty’s Vice President of Marketing.  “We are excited for the sellers of this wonderful property, and for the national exposure that the listing – and our region – will receive as a result of this promotion.”

Consumers have the opportunity to tour the 92 homes selected as finalists by viewing photo galleries on HGTV.com and can then cast a vote for their favorite properties. A winner will be chosen in each category based on the highest number of votes received, and an overall favorite will be awarded for the listing receiving the most votes.

The winning homes will receive editorial exposure on HGTV.com, as well as the prestige of being selected as fan favorites. Additional properties will be featured in the Global Homes gallery, boasting homes from ten different countries or territories around the world.

To view all homes and cast your vote, visit: www.HGTV.com/househunt


5 Signs That a House on the Market Isn’t Ready for the Sale

If you’ve ever hunted for the perfect house to buy, you know what the process is like. A lot of buyers find themselves viewing tons of places to make sure they’re investing in the right one, and not all of them say, “home sweet home.”

So when you do stumble across your ideal property, it can be difficult to see past all of the good and really address the bad. An experienced real estate agent will help with that, but we’ve got a few dead giveaways for you to keep your eye on while you search for your next home.

Exterior damage

It may not seem like such a big deal at first when you happen to notice a crack in the siding or a minor imperfection on the front porch, but exterior damages like this can point to much larger issues that could affect you much sooner than you think. While you might expect for there to be some evidence of a bad storm or age on the outside of a home, there are a few warning signs to look out for when you’re looking with an eye to buy. Make sure that those cracks haven’t allowed for any decay or rot to ensue beneath the surface, or a build-up of mold. Some damages get worse over time and can eventually reach down until they become structural or foundational issues.

Recent paint jobs

A fresh coat of paint might seem like a simple attempt to spruce the place up for potential buyers. But sometimes, paint is just concealing things like water damage or otherwise faulty features. And in the case of water damage, paint just seals in the moisture and allows for the perfect place for mold to grow. We recommend a thorough look around each sink, under window sills, and inside drawers in the kitchen and bathrooms. If anything looks warped, or you find any soft sheetrock, you’ll know that buying that house means dealing with the aftermath that the previous homeowner tried to conceal in the interest of getting the sale.

Uneven floors

With all the other aspects of a new home right in front of you, it’s unlikely that you’ll immediately look down at the floorboards. But while you’re getting excited about crown molding and the cozy placement of the fireplace, make sure you take a look under your feet. Uneven floors can indicate issues with the foundation, or the way in which the house settled with time and possibly created deflections underneath. A good rule of thumb is that the older the house, the more important it is to test out that floor before signing any paperwork.

Closed-off rooms

If you arrive at a house that you’re considering, and find that the current owners have closed off rooms and made a request that you not take a look around there, that should raise a red flag. There are circumstances where this could be warranted – if the homeowner has pets, for example, and wants to be sure they aren’t accidentally let out – but it can also indicate issues that might be deal breakers for a buyer. If you notice a room is closed off during your showing, just be sure to clarify that point with your real estate agent at the earliest opportunity.

DIY repairs

Some homeowners are incredibly handy, and can safely fix at least minor things by themselves so as to cut the cost of hiring a professional for the simple job. Others, however, seem to think that they’ve got the skills to handle the problem and wind up making things worse. While you view houses to buy, ask questions about past repairs and anything that catches your eye as a potential home improvement project.

Shopping for a new home doesn’t have to be as stressful as it sounds, especially when you have someone well-versed in the real estate game to make sure everything is as it should be. If you’re ready to get out there and start looking for your new home in the coastal North Carolina area, contact Intracoastal Realty!