Homeownership: Reports of Its Death are Exaggerated

There have been a growing number of reports announcing the death of American homeownership over the last two years. Some have said we are evolving into a rental society and even challenge the long standing belief that homeownership should be a part of the American Dream. They look at the falling rate of homeownership as proof of their point. Others say that the younger generations no longer see the value in owning over renting.

However, this past week, two news items might refute these points. First, DSNews reported the homeownership rate actually increased in the last quarter; the first quarterly increase in two years.

“After falling to a 13-year low during the second quarter, the homeownership rate posted a highly unexpected rise in the third quarter, according to a Census Bureau report.”

Then, Fannie Mae released their 2011 3^rd Quarter National Housing Survey. We will cover this report in more detail on Wednesday. But we do want to mention a few findings the report highlighted. Both Generation Y (birth date mid-1970s to mid 1990s) and Generation X (birth date mid 1960s to mid 1970s) have stronger beliefs in the importance of homeownership than those of the general population.

Here are the numbers for the three major reasons to buy (as per the survey) with the percentage who believe in each reason:

1. It is a good place to raise children and provide them with a good education:

§ Generation Y: 84%

§ Generation X: 81%

§ General Population: 80%

2. You have a physical structure where you and your family feel safe:

§ Generation Y: 77%

§ Generation X: 79%

§ General Population: 76%

It allows you to have more space for your family:

§ Generation Y: 76%

§ Generation X: 77%

§ General Population: 73%

Both generations also believe in homeownership as an investment. 70% of Generation Y and 66% of Generation X see homeownership as a safe investment while 64% of the general population believes so.

Bottom Line

This country’s belief in homeownership is anything but dead. The younger generations have the same if not a higher level of belief than earlier generations. As the economy improves, more people will make the move into a home of their own.

Money to Purchase AND Renovate Your Home

This is a great new product that I am actually using personally. It's a little more difficult than your standard loan, but it allows you to do so much more. Please read the blog and give me a call for more information.

Whether you’re looking at a foreclosed home, bank REO, a Short Sale or really any home, you need to be aware of the FHA 203K Program. The general condition of real estate has taken a dip over the past few years, as homeowners are not sprucing up their home as they have in the past.

(Pssst…there’s a recession going on…people are afraid of losing jobs…and they believe they won’t “get back” the money they spend by renovating upon sale).

The 203K loan can be used for small repairs (with a minimum of $5000 of work) such as a new roof or replacing the boiler. It can go all the way up to practically rebuilding the home and anything in between. Maybe you love a home, the neighborhood, etc., but you hate the kitchen cabinets. The 203K may be for you. As long as the existing foundation stays intact, we can talk about any type of repair, upgrade, modernization or expansion.

With one closing, we will give borrowers money to satisfy their contract with the seller AND establish a Rehab Escrow Account to fund the agreed renovations. The Rehab Escrow Account is managed like a Construction Loan. Money is released after work is completed, the property is inspected by the lender and the title is updated.

Like all FHA loans, the property must be owner occupied and loan approval requires full documentation of income, assets and credit worthiness. At the same time, underwriting guidelines have some flexibility built in. (In theory, we can lend up to 110% of the After-Improved Value of the home for example.)

Loans are processed in the same fashion as any other loan (in terms of income, asset and credit) with the exception of the appraisal. Appraisers work in conjunction with the home improvement contractor and a HUD Approved Pre-Planner to determine: “As-Is”Value, “After-Improved” Value, costs of construction and the draw schedule of the renovation portion of the loan. This work typically adds about a week to the approval process, largely because it should be done BEFORE contracts are signed.

SOME UNIQUE FEATURES OF THE 203K

§ Mixed-Use Properties may be eligible! As long as the commercial space is no more than the allowable square footage based on the number of floors in the building and none of the renovation monies are used for a commercial renovation, the 203K gives tremendous interest rates for Mixed-Use Properties.

§ The loan can be used to change property usage (when appropriate municipality approval)…..converting a 1 Family Home to a 2 Family or a 4 Family to a 3 Family or any variation that stays within the 1-4 Family boundaries works.

§ On major renovations we will finance up to six months payments into the loan. In these cases,the house will not be habitable until after the work is completed.

§ There is a Streamline 203K for projects that require less than $35,000 of repairs. Typically, we like to see only one or two items of work that can be done quickly (with one inspection).

It is recommended that you work with an experienced loan officer when exploring the 203K Program, as there are many details that need to be considered (from selecting a qualified contractor to the inner workings of the draw schedule and preparing for different contingencies). While the program is more intricate, with the right education ahead of time, it is extremely manageable.

What if You Could Buy Shoes...

What if there was a shoe store that had:

§ An unparalleled selection of shoes of every size, color, and price range

§ The shoes were discounted 30% or more

§ You had a credit card that would finance the shoes for 30 years at 4.5%

How many shoes would you buy? My bet is there would be a line around the block. Well, today, real estate is like that shoe store (incredible selection, terrific bargains and excellent financing terms). But there’s more….

§ Shoes go in and out of style. Homeownership is still the American Dream.

§ Shoes are worth less once you wear them. Homes will appreciate in value over time.

§ Shoes get disposed of. Homes are lasting.

And while many can recount memories created in certain shoes, everyone can remember their first home, their first family gathering, the countless holidays shared. There is also the ability to decorate to your tastes, the stability (and lower crime rate) in homeownership neighborhoods and the higher level of education achieved by kids who grow up there.

If you’d stand in line to buy shoes, what’s stopping you from exploring a home? Despite some media perceptions, there is mortgage money available with reasonable down payment requirements at extremely low rates…talk to a loan officer. There are some great deals out there with short sales, foreclosures and regular transactions also!

Happy Shopping!

Housing Prices: Explaining the Recent Uptick

Several pricing indices have reported that, on a month-over-

month basis, home values have ticked up slightly over the last quarter. This has caused some

 to call the bottom to the housing market – at least from a price standpoint. We must realize

that prices are determined by supply and demand.

Demand has indeed shown improvement in many parts of the country. However, the supply side of the formula is being impacted by legal issues. The number of foreclosures coming to market has been slowed dramatically by the courts as the banks still struggle with improperly filed paperwork. This inventory will eventually find its way to the market and again put downward pressure on values.

Here is a chart showing the challenge:   

Bottom Line

If you are selling, there currently is a window of opportunity to get your best price before the distressed properties are released.



Reprinted by Permission from KCM Blogsite

Thank God I Didn't Buy Gold at $400 an Ounce

We hope that headline grabbed you. The reason we used it was to bring some perspective to the debate as to whether or not homeownership is a wise investment in today’s troubled market. A family should never look at the purchase of a home simply as a financial investment. It is so much more than that. But, even if we look at it as only an investment, we must look at it in the long term. Let’s use gold as an example.

Gold had dropped from over $400 an ounce to $250 an ounce (a 40% decline) from February 1996 to August 1999. People were so glad they hadn’t bought at $400 an ounce.

Lord William Rees-Mogg, the current Chairman of The Zurich Club, in 1997 said:

“No investment has been so thoroughly exploded as gold; most people think that there will no more be another gold boom than there will be another boom in tulip futures in The Netherlands.”

Everyone knows what happened next. The proclamation of gold’s death was rather premature. Gold rose from $250 an ounce to over $1,500 an ounce in the next twelve years.

If we look at real estate in the long term, we can see that it has been a great vehicle for building family wealth. The Federal Reserve’s Survey of Consumer Finances, conducted once every three years, provides a snapshot of family income and net worth. There survey has shown every time that homeowners’ net worth far exceeds that of renters. Here is the breakdown of the last several surveys:

§ 1998 – Homeowner net worth exceed renters by 31%

§ 2001 – Homeowner net worth exceed renters by 36%

§ 2004 – Homeowner net worth exceed renters by 41%

§ 2007 – Homeowner net worth exceed renters by 46%

The 2010 survey is not out yet but the National Association of Realtors’ has estimated that number to be approximately 41% in 2010. You may be thinking this is no longer the case based on the current fall in home values which have dropped back to 2000 – 2002 prices.

Harvard University just completed a study that showed:

“Even if homeowner wealth fell back to 1995 levels, it would still be 27.5 times the median for renters.”

Bottom Line

We are not predicting that real estate will see the same levels of appreciation that gold did. However, we do believe that the real estate market will rebound strongly.

Distressed Property Sales: Down…But Not Out

There has been much written about the falling inventories of distressed properties in many market places. Some have looked at the decreasing percentage of distressed property sales reported by the National Association of Realtors over the last four months as a sign that we are finally cleaning out the last remnants of the foreclosures. If you look at the numbers, it could seem that way:

§ March: 40% of all sales were distressed properties

§ April: 37% of all sales were distressed properties

§ May: 31% of all sales were distressed properties

§ June: 30% of all sales were distressed properties

However, in reality the falling percentage of distressed property sales is not an accurate indicator. The reason the percentages are falling is because many homes are currently tied up in the process of foreclosure.

An article in HousingWire quoted James Zeldin, EVP Default Resource on the issue:

“I would absolutely expect an increase in inventory over the next 12 to 18 months. I’m personally expecting that a lot faster. I believe we’re going to see macro forces pushing these institutions to do more REO liquidation.”

Once these properties are cleared through the foreclosure process, the inventories of distressed homes will again increase and the percentage of sales will again begin to climb.

Bottom Line

We are working our way through large numbers of distressed properties every month. However, there are many more which will come to market in the next year to eighteen months.

Assets and Your Mortgage Application

When lenders evaluate mortgage borrowers, they look at four things: income (the ability to repay), credit (the willingness to repay), collateral (appraised value and property condition) and assets (cash in the deal and cash reserves after closing, mostly). Of the “four legs of the table”, assets are the least discussed, and yet may be the most important.

What do we mean when we talk about assets?

§ Monies needed for the down payment (the difference between the purchase price and the loan amount which may or may not be the same as the money deposit at contract signing)

§ Monies needed for closing costs (fees to the lender and third parties for things like appraisals, title insurance, settlement services, and so on)

§ Monies needed for Pre-Paids (homeowners insurance, flood insurance, real estate taxes, etc.) and establishing escrow accounts for future payments

§ Monies for Reserves- the money you still have left after closing. Monies that would be available, if a problem were to arise

Why do we care about assets?

§ Assets may be the truest reflection of a borrower’s fiscal strength. Their ability to save and properly budget could be a significant indicator to their future paying habits

§ The source of the assets is important. Savings? Gift or inheritance? Lottery victory? Insurance settlement? Sale of a baseball card collection? Each reflects differently on the borrower.

§ Many people don’t show all their income on their tax returns (it’s just a fact). Undocumented income can’t be used to qualify; however, often assets become a truer representation of a borrower ability to pay than their 1040s.

§ Reserves are an issue. A client with $50 in the bank after closing is riskier than one with $50,000. Also, clients who have money in the bank but have some sporadic lates on their credit are looked at differently than those who didn’t have the money to make the payments.

Common Asset Issues in Mortgage Packages:

§ Large deposits (defined as those which are excessive for the income level) raise an underwriter’s eyebrows. Where did the money come from? Maybe the borrower took a loan that doesn’t yet show up on their credit report.

§ Cash deposits are another red flag. In this day and age, people keep their money in the bank, not under their mattress. Where did the cash come from?

§ Gift monies and seller’s concessions, while considered as borrowers assets when doing calculations, will give an underwriter pause when assessing the borrower’s real ability to replay.

Guidelines have tightened. When borrowers are paying off credit cards to get their ratios in line, lenders are asking where that money came from now. That act has nothing to do with the home purchase, but may be a sign of something fragile in the borrower’s financial make up.

The best advice is to consult a loan professional to discuss the proper way to position your assets and the timing of it that will put you in the most favorable light.

Selling Your House? Waiting May Not Make Sense

There have been some bright spots in the residential real estate market over the last couple of months. Several price indices have reported a stabilization of prices and some regions have even shown small levels of appreciation. This has led some to believe that we may have reached a bottom for home values. We must realize that what we are actually experiencing is a ‘window of opportunity’ as the banks are delayed in bringing certain inventories of distressed properties to the market. Let’s look at what others are reporting:

Bloomberg Businessweek

“The crux of Simon’s analysis is that the loose lending practices seen during the housing bubble allowed 5 million renters to become homeowners, and that the market is in the protracted process of evicting this group. He believes housing prices will decline 6 percent to 8 percent nationally, with 6 million to 7 million more foreclosures yet to come.”

Yahoo Finance

“The problem with the real estate market remains excess inventory. Based on Shilling’s research, there are 2 million to 2.5 million excess homes in the country — a supply that will take 4-5 years to work-off. The result: Housing prices will fall another 20% and underwater mortgages will balloon from 23% to 40%, he says.”

Housing Wire

“Both warmer weather and the drop in distressed sales percentage have contributed to recent home price improvements. However, given the disappointing pace in housing demand recovery, both factors may turn against us in the coming winter and push home prices lower again…

This supply-demand imbalance affirmed JPMorgan analysts’ estimate of a further 4% drop in home prices from the first quarter of 2011 to a new bottom next year.”

DS News

“Home prices have gotten a little bit of a boost in recent months thanks to a seasonal uptick in market activity. Most analysts, however, expect further declines to characterize the later part of the year and possibly extend into next year, largely because of the huge supply of foreclosures on the market.”

Bottom Line

If you are thinking of selling in the next twelve months, you would probably do much better if you sold your house sooner rather than later.






Reprinted from KCM Blogsite

Let's Get Chicken Little

You all know the story…young chicken, fearful of the worst, runs around declaring that “the sky is falling, the sky is falling”.

In today’s real estate market, there are many people (professionals and amateurs alike) with opinions that make buying real estate sound like throwing money away.

One thing I have learned in life is that opinions are like belly buttons, everyone has one. I certainly have my opinions which  are not always universally shared. But, I wanted to share mine today by asking those of you Chicken Littles some questions:

§ If we all agree that homeownership has been the American Dream, what do you propose will replace it? Video games? iPads? A better social media vehicle? Without a dream, civilizations perish.

§ If people stop investing in real estate and values crumble much further, how do you propose stopping our economy from a complete and utter collapse? Moreover, how will it ever recover?

Let’s face it: The real estate frenzy got us into this mess, in the same way that the dot.com bubble overinflated the stock market and eventually popped. But, dot.com companies were only a part of the stock market; therefore, the market could take a hit and limp around for a while yet still fall back on the other industries to regain its footing. It has taken years, but the stock market is credible again.

Real estate is different. When it slides, there is no other sector of the economy that can bail it out. You could try and argue that commercial real estate or even real estate investors who buy and hold for rent can ease the pain. However, they can’t devour all the inventory. Real estate has to be salvaged and supported by the government or the whole economy slides into the ocean.

The government has tried many things from restructuring Fannie Mae and Freddie Mac to appraisal reform to tighter underwriting guideline to artificial manipulation of interest rates to licensing of loan officers and more. They understand the importance of real estate values to our nation’s net worth. They are committed to real estate.

My point, dear Chicken Little, is that if you believe that the United States of America is going to continue to lead the world, you know our economy has to lead the way.  In order to do that, we need housing to recover its position of strength.  That makes buying a home a safe, long term smart move. If you don’t believe it…..might be time to look for real estate in another country.

The problem with Chicken Little is nothing more than he doesn’t ever propose a solution. He just wants to predict and point out problems. Our faith in the American Dream is being tested. I believe in the Dream. And I think you should too. It may look like a leap of faith more than logic to some but there are few Chicken Littles who ever become wealthy until they change their perspective.

Just my opinion…from my belly button.

5 Real Estate Headlines You’ll See in the Next Six Months

Making predictions can be the ‘kiss-of-death’ for a blog. Even if we get four out of five correct (80%), there are those in the industry who will kill us on the one we got wrong. We believe strongly that when making a real estate decision for you and your family you must look forward and take into consideration how the housing market may change.

For this reason, we are willing to take on the possible wrath of our counterparts by sticking out our necks and predicting these will be the major real estate news stories from now until the end of the year.

Interest Rates Rise

Many, including us, have been surprised that rates have not risen already. However, the next several months are going to see three distinct changes that will propel rates upward.

1.As the government starts to leave the mortgage market, private industry will step in. Private industry demands a higher rate of return on their investments. Mortgages will be no different. Studies have shown that 30 year mortgage rates could increase by 1 to 3% over the current rate.

2.       In many higher priced markets, rolling back Conforming Loan Limits means that rates for the mortgages on these properties will resort back to the rates on private jumbo loans. The FHFA informed us that last year, the difference between mortgage rates for jumbo loans and jumbo-conforming mortgages has varied between about ½ and ¾ of a percentage point.

3.       As the economy gets better (and we believe it will), the pressure to keep rates low to stimulate growth will abate.

Some Loan Requirements Tighten but More Can Now Get a Loan

Lending institutions have already started to introduce stricter mortgage guidelines. Whether the Quality Residential Mortgage (QRM) requirements are instituted as originally proposed or eased somewhat, there is no doubt that guidelines will continue to tighten as we work through the year. However, we believe the private sector will again start introducing alternative mortgage financing but at a greater expense to the consumer. You WILL be able to get a mortgage. It will just cost you more.

Housing Sales Increase

Contracted sales have shown consistent improvement over the last six months and we feel this will continue and actually begin gaining even greater momentum. We believe there is a ‘pent-up’ buying demand caused by the volatility of the market over the last several years. When interest rates start to move upward and alternative financing becomes more available, these buyers will start to jump off the fence. We believe there will be a major upswing in sales over the next six months.

Distressed Properties Increase Markedly 

More people are paying their mortgage on time and that is great news for housing in the long term. However, the numbers of distressed properties currently in the foreclosure process is still very swollen. These properties will begin coming to the market in the second half of the year as short sales and foreclosures. The numbers will be staggering in some areas.

Prices Continue to Soften in Most Markets 

The current housing inventory for sale and the distressed properties about to come on the market will vastly outnumber the increased supply of purchasers we will see over the next six months. There will be more houses for sale then there will be buyers purchasing them. That oversupply will continue to put downward pressure on prices through the rest of this year and into 2012.

You now know what we believe will take place in real estate between now and the end of the year.

Top 5 Real Estate Headlines of the First Half of 2011

We have reached the midway point of the year. Today, we want to look back over the first six months and give you what we believe were the five items which have had the biggest impact on the real estate industry so far this year.

The Government Wants Out of the Mortgage Business

From the original outline of the Dodd-Frank regulations to the talk of closing Fannie Mae and Freddie Mac to the proposed Quality Residential Mortgage (QRM) guidelines, the government has made it very clear that they want to dramatically limit their involvement in the mortgage industry. What will come of this? Will private industry step up and fill the void created? What will be the increased cost to the consumer? Only time will tell.

Despite Early Headlines, Sales are Increasing

Headlines earlier in the year announced the total collapse of the housing market. To those in the know, it was obvious that comparing sales numbers in the first four months of this year to the same period last year made absolutely no sense. The largest tax credit ever given to home buyers expired on April 30, 2010. Large numbers of transactions were dragged forward last year so buyers could take advantage of the credit. Pending home sales (transactions going into contract) on the other hand have done quite nicely and many institutions (ex. Fannie Mae, Freddie Mac, NAR and Moody’s Analytics) are projecting good sales numbers throughout the rest of the year.

Amid Warnings of a ‘Double-Dip’, Prices Began to Stabilize

Prices continued to retreat for the first few months of the year and brought the bears out. Some called for another major fall in prices (15-20%) and almost all recalculated their projections to show continued depreciation. Just as these new projections were made available, some pricing indices announced that values actually increased (though by a rather minimal percentage). Again, those with the best understanding of the market were quick to explain…

Foreclosures Were Delayed Longer Than Originally Projected

Distressed properties (foreclosures and short sales) have a major impact on the values of all properties in an area. Because of paperwork challenges, the flow of these properties to the market was virtually shut off. At the beginning of the year, most experts believed the banks would correct these challenges by the end of the first quarter. That didn’t happen and therefore many of these properties were delayed coming to the market. This is a major reason why prices seemed to recover: there were fewer discounted properties available for sale. Most now believe that the banks are within 60-90 days of releasing this inventory and that prices will again begin to soften.

Main Stream Media Begins to Announce “Now Is the Time to Buy!”

With prices and interest rates at historic lows and the chance that mortgages will become more costly as the private sector steps in, many in the main stream media are announcing that buying a home now makes sense. In the last 45 days, the Wall Street Journal, Forbes Magazine, National Public Radio (NPR) and CBS Money Watch have all ran articles calling for the readership to consider buying now!

Reprinted from KCM Blog

House Prices Through 2015

Everyone seems to have an opinion on where home prices are headed. Housing bulls are saying prices may start rebounding as early as later this year. Some housing bears are saying that prices may still drop another 10-15%. What actually is going to happen? No one knows for sure.

However, Macro Markets, a financial technology company, actually surveyed 108 economists, real estate experts, and investment and market strategists for their June 2011 Home Price Expectations Survey. They then averaged all 108 opinions. Here is what the report says about house prices over the next five years:

§ 2011: prices will depreciate 3.52%

§ 2012: prices will appreciate .46%

§ 2013: prices will appreciate 2.18%

§ 2014: prices will appreciate 2.92%

§ 2015: prices will appreciate 3.47%

Accumulative appreciation (including this year’s projected depreciation) will stand at 5.71% in 2015.

Bottom Line

The experts say home prices will begin to see appreciation next year and return to historic levels of annual appreciation by 2015.

Reprinted by Permission from KCM Blog

What's Going On This Weekend On Pleasure Island

Pleasure Island Chamber Of Commerce CHAMBER WEEKLY  Public Service Announcement Support your Chamber Members  June 24, 2011    BLP - Clasic Rock & Dance FREE SUMMER CONCERT - TONIGHT June 24th - Ft. Fisher Military Rec Area     6:30 pm - 8:30 pm          910.458.8434    VOLUNTEERS NEEDED !!! Thursday Night Fireworks & July 3rd We are looking for a few good people.  As you know, the events that are put on by the Chamber of Commerce are not possible without the dedication and hard work of our Volunteers.  If you are interested in helping out with the Thursday Night Fireworks or July 3rd fireworks (We have to close the Beach at 3 pm that day), please give Greg a call at (910) 458-8434.  Give us a couple hours and your community will thank you.  If you have never volunteered before, give us a call and help make your community the 'piece of paradise' that we have grown accustomed to... You will be glad you did!        SHRIMP-A-ROO Carolina Beach Lifeguard Association      Saturday, June 26th 11:00 am - 3:00 pm Come early, it usually sells out... At the Carolina Beach Boardwalk Lifeguard Station JIMMIE VAUGHN & the TILT-A-WHIRL BAND featuring LOU ANN BARTON Seafood Blues & Jazz Festival       RIBBON CUTTING EVENT Bodacious Boutique    RIBBON CUTTING AND GRAND OPENING  Please plan on joining your Chamber friends as we welcome Jan Cannada & Kim Foust and their new business BODACIOUS BOUTIQUE on Wednesday, June 29th at 5:30 pm.  Light Hors d'ouvres and beverages will be served for your enjoyment.       915A North Lake Park Blvd.  Carolina Beach   910.707.0404  NEW HOURS ANNOUNCED Snow's Cut Cafe    BREAKFAST SERVED ALL DAY Snow's Cut Cafe - Home of the BEST Breakfast on the Island has new houres of operation: 7:00 am - 2:00 pm Drop in take a break and have a bite    1140 North Lake Park Blvd.  Carolina Beach   910.707.0550  NEW INVASIVE JELLYFISH EXHIBIT NC Aquarium at Fort Fisher    Visitors to the NC Aquarium at Fort Fisher this summer will find a new exhibit in the Exotic Aquatics Gallery.  Aquarium staff has added white-spotted jellyfish (Phyllorhiza punctata) to its collection. The Exotic Aquatics Gallery traditionally features non-native marine species. Guests can learn more about the life cycle of a jellyfish while viewing these beautiful animals. The white-spotted jellyfish species looks almost exactly as its name suggests; they appear blue-gray in color, and white spots adorn the top of their prominent bell.  Although native to Australia, this particular species of jellyfish has become invasive in the Gulf of Mexico as well as the Atlantic Ocean near the Cape Fear coast.  While they usually grow to between 17 and 19 inches in diameter, the largest white-spotted jellyfish on record, found on Sunset Beach, N.C., in 2007, measured 28 inches.   This exhibit furthers the Aquarium's objective to educate the public on the importance of well-balanced ecosystems.  Invasive species can easily disrupt that balance by cutting off resources to other species, changing the chemical makeup of the water, and ultimately causing a shift in the entire food web. This affects every aspect of the way humans enjoy the ocean, from seafood cultivation to a simple day at the beach.  NC Aquarium at Fort Fisher is located just south of Kure Beach, near the mouth of the Cape Fear River, on US 421. The site is less than a mile from the Fort Fisher ferry terminal. Hours: 9:00 am to 5:00 pm daily (closed Thanksgiving, Christmas, and New Year's Day). Admission: $8 adults ages 13-61; $7 seniors 62+; $6 ages 3-12. Free admission for: children under 2; registered groups of N.C. school children, and NC Aquarium Society members. Generalinformation: www.ncaquariums.com       900 Loggerhead Road    Kure Beach, NC   910.458.8257 NEW LIMITED HOURS NC Department of Revenue   Local Surfer in World Surfing Games Tony Silvagni representing the U.S. Silvagni won a copper medal in 2009, which helped Team USA win the gold that year.    Growing up with our local waves, Tony said there's more to this competition than just a few big breaks.   "You're getting on a plane, you're flying a long distance, you're getting used to their culture and their food," explained Silvagni.  "So, I guess it's just a balance that you have to have. You want to be that person that can do it all."  The World Surfing Games end July 3, so Tony said it would be great to come home and celebrate the July 4th holiday with a gold medal.   Area surf instructor Tony Silvagni will represent the United States this week at the World Surfing Games in Panama.  Silvagni will join seven other surfers Thursday for the week-long event.  He will compete in the long board competition against 31 other countries.    SUMMER DAY CAMPS BEGIN NC Aquarium at Ft. Fishert A young camper enjoys his first day of summer camp on Monday at the North Carolina Aquarium at Fort Fisher.  The Aquarium offers four week-long sessions from now through August, with age-specific programs for kids 5-6, 7-9, 10-12, and 13-14.   Campers tour the aquarium, explore nearby beaches and marshes, and learn about the beauty and importance of local aquatic environments. 900 Loggerhead Road    Kure Beach, NC   910.458.8257 HURRICANE INFORMATION Town of Kure Beach WHY EVACUATE? WHAT DOES THE TOWN DO? WHAT IF I STAY? The Town of Kure Beach is sponsoring Hurricane information sessions at Kure Beach Town Hall on the following dates. I encourage you to come and ask questions to support your personal planning. ·              Sunday, June 26 from 2-3 pm ·              Wednesday, June 29 from 6-7 pm ·              Thursday, June 30 from 6-7 pm ·              Saturday, July 2 from 10-11 am For more information on personal planning, go to www.fema.gov . I encourage every citizen to create a Family Disaster Plan to be prepared. and  www.weather.gov/os/hurricane/resources/TropicalCyclones11.pdf   If you have any questions or comments please contact Town Hall at 458-8216 and leave a message for me or email me at heglardw@corning.com. I will reply as soon as possible. David W. Heglar Emergency Response Coordinator Town of Kure Beach 117 Settlers Lane     Kure Beach, NC     910.458.8216 SOFTBALL LEAGUE SIGN-UPS The Last Resort THE SHIRTS ARE ORDERED NOW WE NEED SOME PLAYERS, FREE AGENTS OR JUST BODIES TO PLAY ON OUR BEER TEAM...     WE HAVE ALREADY SIGNED UP A COUPLE FAMOUS BALL  PLAYERS FORMERLY FROM THE MEADVILLE, PA AREA NOW WE NEED TO PUT A TEAM AROUND THEM..    GUYS AND GIRLS CAN PLAY    IF YOU CAN WALK AND TALK AT THE SAME TIME COME ON DOWN AND SIGN UP    IF YOU LIKE TO DRINK BEER, LAUGH, RUN, WALK, SWING A BAT, CATCH FLYS OR JUST LIKE DIGGING IN THE DIRT AT FIRST BASE WE WANT YOU...    CALL BOB @ 910-599-2879 TO JOIN OR JUST DROP IN AND SIGN UP AT THE RESORT... SEA TURTLE TALKS Pleasure Island Sea Turtle Project "LEGENDS IN CONCERT" Bus Trip Kure Beach Parks & Rec TICKETS ON SALE NOW! Make your reservation at Kure Beach Town Hall for the upcoming bus trip to see "Legends in Concert" in Myrtle Beach, SC. The trip will take place on Tuesday, September 27 for the very low price of just $46 per person. The bus will leave from Town Hall at 9:00 am and will return at 6:00 pm. This show is internationally acclaimed and is known as the pioneer of live celebrity impersonator shows. You'll find the greatest collection of celebrity impersonators ever assembled showcasing music legends such as Elvis Presley, The Blues Brothers, Garth Brooks, Tim McGraw, Rod Stewart, Tina Turner, Cher, Madonna and many more. Space on the bus is limited, so reserve your spot today! For additional information, call Kure Beach Town Hall at 458-8216.       BASKETBALL BY THE SEA June 27th - July 1st     Call 458-2977 The Carolina Beach Parks & Recreation Department will be hosting a youth basketball camp June 27th-July1st (from 9am-3:30pm each day).  It is for all boys and girls ages 6-16 and the cost for the full week is $150.00.  This camp will be run by Brian Williams and Tarvis Williams.  I have attached the camp brochure and registration form.  Please contact me at lani.thompson@carolinabeach.org  if you have any further questions.  We expect this camp to fill up so please register as soon as possible if you are interested.   DODGE BALL LEAGUE Carolina Beach Recreation Department The Town of Carolina Beach Recreation Center is trying to find new and interesting way to keep people active and healthy. We are trying to determine if there is interest in a summer dodge ball tournament to be held sometime in July. The team members must be at least 16 years of age. If you or you know someone interested in playing please respond to this e-mail with name, age, and e-mail address.  Greg Anthony, Recreation Leader Carolina Beach Parks & Recreation Department 1121-B N. Lake Park Blvd. Carolina Beach, N.C. 28428 910-458-2977  reccenter@carolinabeach.org  JULY 4th CELEBRATION Step Up for Soldiers There is no charge to attend; the event includes free food, drinks and great patriotic entertainment for veterans and active duty military families from all five branches as well as Step Up For Soldiers friends, volunteers and sponsors.  Come out this Independence Day and reclaim your patriotism with Step Up For Soldiers.    Step Up For Soldiers invites you to its annual 4th of July celebration on Monday July 4, 2011 beginning at 5:30 PM.    Location is the USO Building, 120 South 2nd; at the corner of Orange St. in downtown Wilmington.  The party will end just in time for you to walk two blocks to the river front fireworks.   JULY 4th CRUISE WINNER PARTY BOAT Monday, July 4th, 2011 CRUISE TO SOUTHPORT TO VIEW FIREWORKS DISPLAY! We are offering a Dinner Cruise departing from the Carolina Beach Marina to cruise to Southport, NC for the annual fireworks display. Leave the driving to us!  Get a spectacular view of the Fireworks show aboard the Royal Winner Princess II. Boarding will begin at 6:30 pm. Departure time is set for 7:00 pm and returning to the Carolina Beach Marina at 10:45 pm (approximate) MENU FEATURING: North Carolina Barbeque Honey Baked Beans Southern Potato Salad Cole Slaw Garlic Toast Dessert Iced Tea Adult Fare is $57 and Child far is $37 Reservations can be mnade by calling 910.458.5356.  Limited tickets available for purchase. www.WINNERBOATS.com hamber Events Chamber Events Ribbon Cuttings June 29, 2011 Bodacious Boutique 915A North Lake Park Blvd. Carolina Beach, NC 28428 910.707-0404 5:30 PM (910) 458-8434 for more information    The Pleasure Island Chamber Of Commerce offers a ribbon-cutting ceremony for any new business member or relocation of an existing member.  If you are interested in having a ribbon cutting ceremony, please contact the Chamber for more details. Please call New Members   Jeff & Brinley Christner  Tasting History   Carolina Beach, NC 910.350.8901 Jeff 910.622.6046 Brinley tastinghistorytours@gmail.com www.tastinghistorytours.com Guided Walking Food & HistoryTours. Tours are 2 1/2 hours and stops at five different restaurants in Carolina Beach while mixing the history of Pleasure Island along the way Chris Oliver Century 21 Sweyer 106 Ocean View Avenue Carolina Beach, NC  28428 910-256-0021 coliver@century21sweyer.com www.coastalcarolinahomesales.com   Jan Cannada & Kim Foust   Bodacious Boutique 915A North Lake Park Blvd.  Carolina Beach, NC  28428 910-707-0404 bodaciouscb@aol.com www.bodaciousboutique@vpweb.com Women's consignment, purses, shoes, jewelry, retail & art    Tell your business acquaintances, friends and associates to join you at the Pleasure Island Chamber Of Commerce    click for more info  SAVE THESE DATES     BLP Free Summer Concert Classic Rock & Dance Friday, June 24th 6:30-8:30 PM Ft. Fisher Military Recreation Area (910) 458-8434 Despicable Me Sunday, June 26th  8:45 pm Carolina Beach Lake (910) 458-8434    Kure Beach Double Sprint Triathlon June 26, 2011  www.setupevents.com Fireworks & Hott Rod Thursday, June 30 6:30-9:30 PM Carolina Beach Boardwalk Independence Day Fireworks Extravaganza July 3, 2011 Carolina Beach Boardwalk 9:00 pm www.pleasureislandnc.org East Coast Got-Em-On Classic King Mackerel Tournamanet July 8-10, 2011   www.got-em-on.com   South of K Free Summer Concert Classic Rock & Dance Friday, July 8th 6:30-8:30 PM Ft. Fisher Military Recreation Area (910) 458-8434     Free Fireworks and Boardwalk Music at the Beach    Every Thursday in June, July & August Carolina Beach Boardwalk Free Summer Movie Series    Every Sunday from May 29th - September 4th Carolina Beach Lake    Free Summer Concerts at Ft. Fisher Recreation Area 2nd & 4th Fridays of June, July & August (910) 458-8434 www.pleasureislandnc.org   18th Annual Seafood Blues & Jazz Festival with Jimmie Vaughn and the Tilt-a-Whirl Band featuring Lou Ann Barton  www.pleasureislandnc.org October 8th & 9th (910) 458-8434    Visit Our Sponsor

Carolina Beach 4th of July Weekend Farmer's Market and Art Show Carolina Beach Lake   The Carolina Beach Farmer's Market and Arts and Crafts Show is a "must see" for your holiday weekend.  There will be over 70 farmers, artists, bakers and crafters set up around the lake.  This "island-style" market is held every Saturday from 8:00am to 1:00pm and is located on the main street of Carolina Beach.  Free parking is provided.  On the summer holiday weekends, in addition to the usual 40 vendors the market livens up with an additional influx of artists and crafters of all types.  Come early to enjoy a leisurely morning strolling through the market.  The produce is plentiful, there are baked items of all types from local bakers, everything you need for your pets and arts and crafts of many mediums await you.  There is a lot to see and do so slip on your flip-flops, don't forget the sunscreen and come spend some time with your friends and neighbors.  For more information please visit the market's facebook page (Carolina Beach Farmers Market) or email Janet Knott at janetshere@earthlink.net   DESPICABLE ME  SUMMER MOVIE SERIES AT THE LAKE 8:45 PM at the Carolina Beach Lake In a happy suburban neighborhood surrounded by white picket fences with flowering rose bushes, sits a black house with a dead lawn. Unbeknownst to the neighbors, hidden beneath this home is a vast secret hideout. Surrounded by a small army of minions, we discover Gru, planning the biggest heist in the history of the world. He is going to steal the moon. (Yes, the moon!) Gru delights in all things wicked. Armed with his arsenal of shrink rays, freeze rays, and battle-ready vehicles for land and air, he vanquishes all who stand in his way. Until the day he encounters the immense will of three little orphaned girls who look at him and see something that no one else has ever seen: a potential Dad. The world's greatest villain has just met his greatest challenge: three little girls named Margo, Edith and Agnes.      Admission is Free, however we do ask for a non-perishable food donation benefiting the Federal Point Help Center. PICC  CHAMBER WEEKLY PSA        If you are a member of the Pleasure Island Chamber of Commerce and would like to be featured in a future edition of the PICC CHAMBER WEEKLY PSA, please contact Greg Reynolds at (910) 458-8434 or at greg@pleasureislandnc.org.  Deadlines are Wednesday at 5:00 PM for the Friday's PSA.  Please submit via email including desired text, pictures and logos in a jpeg format.  PDF's will be returned.  We will run your announcement subject to space availability. Carolina Beach  -  Kure Beach Pleasure Island, North Carolina "What's your pleasure?" PICC CHAMBER WEEKLY PSA   June 24, 2011