Tuesday, March 30, 2010

Good Article

This is a very interesting article about high net-worth individuals and what they think about Real Estate as a long term investment.




Wealthy See Growth in High-End Residential Property
Wei Min Tan
03/29/10 - 01:21 PM EDT

High net-worth individuals see high-end residential property as one of the best asset classes to own, predicting growth in 2010.

London-based Knight Frank, a global property consultancy, and Citi Private Bank recently published "The Wealth Report 2010," a 45-page report that surveys the outlook of high net-worth individuals towards global high-end residential property.

Reviewing property in cities from Dubai to Shanghai, the report talks about price changes, market-by-market insight, spread of global wealth, risks and even the expanding role of Islamic banking.

Here are summary points:
• High net-worth individuals, globally, see high-end residential property as one of the best asset classes to own. This is because of the tangible and straightforward nature of residential property, especially during these uncertain times.
• Seventy-one percent of high net-worth individuals think 2010 will be a good year for property. Comparatively, 68% are optimistic on equities, 67% are optimistic on hedge funds, 41% on cash, 38% on gold, 36% on derivatives and only 27% are optimistic on bonds.
• Property also makes up the largest share of high net-worth individuals' investment portfolios, making up 33% of the mix.
• High net-worth individuals are interested in property for long-term capital growth rather than income.
• Shanghai was the top gainer last year at 50%, followed by Beijing at 47% and Hong Kong at 41%. Dubai performed the worst with a decline of 45%.
• Within key cities, average price per square foot ranged from $5,900 per square foot in Monaco to $700 per square foot in Shanghai. New York, at $2,100 per square foot, is less expensive than cities such as London ($4,400), Paris ($3,300), Geneva ($2,500) and Tokyo ($2,200).
• New York is the No. 1 ranked city based on economic activity, political power, knowledge/influence and quality of life. London was ranked No. 2, Beijing No. 9. The key features of New York are Wall Street, the up-and-coming meat packing district residential zone and New York University, the largest private higher education institution in the U.S.
• Perhaps the most interesting observation is the allocation to property in high net-worth individuals' investment portfolios. The financial media, based on asset allocation models, lead us to think that equities would make up the largest share while real estate, given its illiquid nature, should be limited to 15% of one's portfolio.

The report's finding of property having a large, 33% share of High net-worth individuals' investment portfolios is consistent with what I, as a residential property broker in Manhattan, observe from my high net-worth network. Manhattan apartments appreciated by 10% annually from 1997 to 2009 while the Dow Jones Industrial Average appreciated 2%. Add in leverage, typical with property ownership, and the returns become significant.

Friday, March 19, 2010

Island Happenings

Huge Kids Consignment Sale – On Saturday, March 20th from 8-12, the Kure Memorial Lutheran Preschool will hold a kids consignment sale. Come shop for gently used items including children’s clothing, toys, books, nursery items/furniture and baby gear. This sale is cash only and will be held at 117 North Third Street in Kure Beach. https://kmlpconsignmentsale.webs.com

Bingo Bash at Carolina Beach – On Saturday, March 20th, the Katie B. Hines Senior Center will host a Bingo Bash. There are 17 cash games. Doors open at 9:30 a.m. and the games start at 11:00. Seating is limited and is available on a first come first serve basis. The Katie B. Hines Senior Center is located at 308 Cape Fear Boulevard in Carolina Beach.

Sea Eagle Sailing Squadron to Hold Yard Sale – This Nautical Yard Sale will be held on Saturday, March 20th from 8:00 a.m. to 4:00 p.m. at the Federal Point Shopping Center. Funds raised will benefit the Sea Eagle Sailing Squadron’s Adaptive Sailing Program for Wounded & Disabled Veterans & Families. www.seaeaglesailing.org

Eye Care Associates to Host Exclusive Pro Design Frame Show – On Friday, March 26th from 9:00 a.m. to 5:00 p.m., an official Pro Design representative will be on hand with the entire Pro Design frame line. They will assist you in finding a frame specifically to meet your style and design needs. One lucky winner will receive a free pair of Pro Design frames. Light refreshments will also be served. Eye Care Associates is located in Monkey Junction at 5611 Carolina Beach Road, next to the Sawmill Restaurant. www.ecanc.com.

Disabled American Veterans chapter 11 to host Veteran’s Town Hall Meeting – On Tuesday, March 30th from 1-5 p.m., the DAV, Chapter 11, will host a Veteran’s Town Hall Meeting. Come learn how you can help ensure that all eligible veterans have access to quality health care in a timely manner. Guest Speakers will include Senator Burr and Senator Hagan’s military assistant, Congressmen Mike McIntyre and Walter Jones, Governor Perdue’s military advisor Mike Alexander, Wilmington Mayor Bill Saffo and Councilman Jonathan Barfield. All Veterans are encouraged to attend. For additional information, please contact Ron Holtberg at (910) 313-2190 ext. 17 or email at CommRon@aol.com. www.davmembersportal.prg/nc

Tangerine Caribbean Grill Offers Specials – Monday through Thursday starting at 5:00, enjoy 2 entrees, 1 appetizer or 1 dessert for $20. Lunch is being offered from 11 am – 5 pm (featuring $5 specials) with dinner from 5-10 pm and a late night menu from 10pm – 1 am. Happy Hour is from 5- 7 p.m. with half off appetizers everyday. A new Summer ’10 menu is also available. Tangerine will be closed on Mondays until April 1st. www.tangerinegrille.com

Town of Carolina Beach Recreation Department to Host Easter Egg Hunt – On Saturday, April 3rd from 11 a.m. – noon, children ages 12 and under are invited to Mike Chappell Park to participate in the Recreation Department’s Annual Easter Egg Hunt. Other activities will include games, crafts and pictures with the Easter Bunny. Call (910) 458-2977 for more information.

Microchip Clinic for your Pets is coming – On April 3rd from noon until 2:00 p.m., the Animal Medical Clinic and Saving Animals During Disasters will host a Microchip Clinic. While collars can be removed and identification tags lost, microchip implants give your pet the best chance of being reunited with your family. For $30 your pet will have the chip implanted and will be permanently registered with The Home Again pet recovery service. Cash or check will be accepted and you must bring proof of current rabies vaccination. Space is limited and reservations are required. Call Jeannie Mintz at (910) 520-6810.

Donations being Accepted for Trinity Children Foundation Events – This Foundation serves to enhance the lives of children as they address the need for food, clothing, shelter and health care. The Foundation is currently accepting donations for raffles at three of their upcoming events including the Poker Run (June 19th), Charity Ride (June 24-26) and the Golf Invitational (September 21st). If you are interested in making a donation, they can be dropped off at the Foundation office located upstairs from Big Daddy’s Restaurant located at 206 K Avenue or please contact Doris Eakes at (910) 520- 5238 or Lori Harris at (910) 409-0202. Those who donate will be listed as such in all event promotions. www.trinitychildren.com

Monday, March 15, 2010

“The future ain’t what it used to be” Yogi Berra

“The future ain’t what it used to be” Yogi Berra

We have a lot of signs that our markets are turning positive. While the current economy continues to struggle it is hard to tell if this is the standard spring growth or a market that is recovering. We have a lot more positive numbers this month – 6 months increase in sold units, average price gain over last month, year over year sales up 9 units.


Carolina & Kure Beach
There are currently 504 single family homes for sale and this represents a 12 unit increase over February 2010 and 9.6% of our total WRAR inventory. The average list price is $428,746 a decrease of about $2,970 from January. In February there were 15 homes sold, divide that by the homes available and you have a 33.6 monthly supply of homes in Carolina and Kure Beach (this is high because our low sales in February). The average sold price for the month of February was $296,033 and is down from last month. In February 2009 we had 16 home sales at an average $320,344. When we look at our rolling 12 months March 1, 2009 to February 28, 2010 we have 282 homes sold at an average price of $294,934. While March 1, 2008 to February 28, 2009 we had 247 homes sold at an average price of $358,898.

Friday, March 12, 2010

Pleasure Island Happenings

An Invitation from Island Women in Business – Join the Island Women in Business (IWB) for their next meeting Monday, March 15th at 7:00 p.m., at Havana’s Restaurant. IWB is a non profit group in Pleasure Island run by women in business for women in business and is a division of IslandWomen.org. This new group offers great networking opportunities and provides consistent professional and efficient support and a strong platform of events through which members share experiences and best practices. This month’s speaker will be Claire Cates, Principal Developer, SAS Institute, who will speak on “Simple Steps You Need to Know to Secure Your Computer and Personal Information”. If you would like to attend, please
email Claire at Claire.cates@sas.com or call 910-458-7667.

Kure Beach to Recognize Students – At the March 16th regular meeting, the Kure Beach Town Council will recognize six Carolina Beach Elementary School students from grades K-5. These students are the winners of an art contest to design t-shirts for the 4th Annual Kure Beach Street Festival. The Town Council will present these students with a trophy and certificate for their achievements. You are encouraged to stop by the March 16th meeting to help congratulate the winners. The meeting will take place at the Kure Beach Town Hall located at 117 Settlers Lane and will begin at 6:30 p.m.

Huge Kids Consignment Sale – On Saturday, March 20th from 8:00 a.m. until noon, the Kure Memorial Lutheran Preschool will hold a kids consignment sale. You will be able to shop for gently used items including children’s clothing sizes newborn to 12, toys and books, nursery items/furniture and baby gear. Also on site, will be a raffle featuring donated items from many local businesses and restaurants so don’t miss your chance to win big. This sale is cash only and will be held at 117 North Third Street in Kure Beach. https://kmlpconsignmentsale.webs.com/

Sea Eagle Sailing Squadron to Hold Yard Sale – And not just any yard sale but a Nautical Yard Sale, including Fishing Gear, Boat Gear, Sailing Gear and all things nautical. The Yard Sale will be held on Saturday, March 20th from 8:00 a.m. to 4:00 p.m. at the Federal Point Shopping Center. Funds raised will benefit the Sea Eagle Sailing Squadron’s Adaptive Sailing Program for Wounded & Disabled Veterans & Families. To rent a space or for more information go to http://www.seaeaglesailing.org/ or call 910-452-7281.

Cape Fear Community College Small Business Center to Offer Free Seminar – The Small Business Center at Cape Fear Community College is offering a FREE seminar called “Construction Bonds-A Workshop”. This seminar will be held on Tuesday, March 23rd from 6-8 p.m., in the Health Science/Learning Resource Building located at 415 N. 2nd Street in Wilmington. Topics will include: What are bid, payment & performance bonds and how do you get them; Why are bonds requires?; Your obligations under a bond and other related issues. While the seminar is free, you must pre-register at www.cfcc.edu/sbc.

Kure Beach Community Center to Host Spirit Recognition Awards Banquet – This year’s banquet will be held on Saturday, March 27th from 6:00 – 8:00 p.m. at the Community Center located at 118 N. 3rd Avenue. The purpose of this banquet is to recognize and honor Kure Beach residents who have demonstrated outstanding service as a volunteer to the community. Tickets are $16.00 per person and are available at Town Hall or from any committee member. Dinner is being catered by Bon Appetit Catering of Wilmington. Come join them for a night out with great food and lots of fun.

Charlie’s Boardwalk Subs Now Offers Indoor/Outdoor Seating – If you haven’t been down to the Boardwalk lately you haven’t seen the changes constantly happening. One such change is Charlie’s Boardwalk Subs now offers indoor/outdoor seating. Charlie’s offers both 8” and 12” subs, wraps, salads, pizza and hot dogs. Charlie’s Boardwalk Subs is located at 8 Pavilion Avenue South on the Boardwalk. http://www.charliesboardwalksubs.com/.

Island of Lights Seeking Volunteers – IOL is a non-profit organization of dedicated volunteers that sponsor events to promote Pleasure Island. These events occur during the Holiday Season and their popularity increases every year. You are invited to join them and take pride in all that this Island has to offer those who visit and live here. IOL monthly meetings are held on the 1st Tuesday of each month at 7 p.m. at the CB Community Center on the corner of 3rd and Raleigh. If you would like to join this incredible group, come to their next meeting or contact them at P. O. Box 2334, Carolina Beach, NC 28428.

Snow’s Cut Monthly E-News is Back in Business – It’s true, the popular Snow’s Cut Monthly E-news is now back in business. Go to http://www.snowscut.com/ to check it out. The site is updated regularly but be sure to check on Thursdays when the content is completely new. On the site you’ll find quick links to events, fishing and surf reports, tides, weather and lots of other useful, local information.

Thursday, March 11, 2010

Thught For Today

Courage doesn't always roar. Sometimes courage is the quiet voice at the end of the day saying, "I will try again tomorrow."
~ Mary Anne Radmacher

Saturday, March 6, 2010

First Friday of the Month Fish Fry at the American Legion – Once again the American Legion is providing you with a delicious meal at an affordable price. Today from 11:00 a.m. until 7:00 p.m., while supplies last, the American Legion is offering Fresh Fried Fish, Hushpuppies, Cole Slaw, Potato Salad, Corn on the Cob, Iced Tea & Coffee for $8.00 per person. Desserts are also being sold by the Ladies of the Auxiliary starting at 5:00 p.m. The American Legion is located at 1500 Bridge Barrier Road in Carolina Beach.

Spend Saturday Morning at the Katie B. Hines Senior Center Pancake Breakfast – On Saturday, March 6th from 7:30 a.m. until 11:00 a.m., the Senior Center is offering their Pancake Breakfast. For $6.00 adults can enjoy Pancakes, Eggs, Sausage, Fruit, Coffee, Tea or Juice. Children over 8 are $4.00 and under 8 are free. Take outs are also welcome. The Katie B. Hines Senior Center is located at 308 Cape Fear Boulevard in Carolina Beach.

Be a Tourist in Your Own Hometown Appreciation Day – Sunday, March 7, 2010 will be the 15th Annual Be A Tourist in Your Own Hometown Appreciation Day for all New Hanover County residents. Participating area attractions will open their doors to New Hanover County residents free of charge so that they can become “tourists in their own hometown”. Offering free admission is a fun and regarding way to thank the residents for their support. A number of Pleasure Island businesses will be taking part in this event. Those businesses are:
Carolina Beach Lake Park – Free Paddle Boat rides Federal Point History Center
Fort Fisher State Historic Site Fort Fisher State Recreation Area – Free access to the Beach
Jungle Rapids – Either free round of golf, free go-cart ride or free wall climbing
Wheel Run Rentals – Free bicycle and specialty product rentals Some special conditions apply. To see a complete list of businesses and conditions please visit www.capefearcoast.com/hometown.

NC Aquarium hosts Scales and Tails Event - Do you like being up close to rarely seen animals? The North Carolina Aquarium at Fort Fisher will host its annual Scales and Tails event on March 6-7. The event is a two-day celebration of our amphibian and reptile friends. Visitors will have an opportunity to see, touch and learn about our cold-blooded neighbors. Aquarium staff and invited experts will introduce the public to dozens of live amphibians and reptiles, including alligators, snakes, iguanas, lizards, turtles and MORE! There will be exhibitors and Aquarium staff personal collections of rare and interesting animals that aren’t normally on display. The event will be held at the NC Aquarium at Fort Fisher on March 6-7 from 9 AM- 5 PM. It is free with Aquarium admission. For more information please contact the Aquarium at 910-458-8257.

Kure Beach to Recognize Students – At the March 16th regular meeting, the Kure Beach Town Council will recognize six Carolina Beach Elementary School students from grades K-5. These students are the winners of an art contest to design t-shirts for the 4th Annual Kure Beach Street Festival. The Town Council will present these students with a trophy and certificate for their achievements. The Town would like to encourage everyone to stop by the March 16th meeting to help congratulate the winners. The meeting will take place at the Kure Beach Town Hall located at 117 Settlers Lane and will begin at 6:30 p.m.

Island Woman Seeking Donations for Annual Yard Sale – On Saturday, April 17th, the Island Women will be holding their 3rd Annual Yard and Bake Sale. They are currently accepting donations. If you would like to donate an item or items, please contact Marcia at (910) 599-2524. All proceeds are dedicated to making life better on Pleasure Island. http://www.islandwomen.org/

Huge Kids Consignment Sale – On Saturday, March 20th from 8:00 a.m. until noon, the Kure Memorial Lutheran Preschool will hold a kids consignment sale. You will be able to shop for gently used items including children’s clothing sizes newborn to 12, toys and books, nursery items/furniture and baby gear. Also on site, will be a raffle featuring donated items from many local businesses and restaurants so don’t miss your chance to win big. This sale is cash only and will be held at 117 North Third Street in Kure Beach. https://kmlpconsignmentsale.webs.com/