Where Are Housing Prices Headed?

The National Association of Realtors (NAR) has been reporting great news recently. Last week’s Existing Home Sales Report and yesterday’s Pending Sales Report both showed consecutive months of increases in the number of homes sold. Finally, buyers are jumping off the fence and taking advantage of one of the most opportune times to purchase a home in America’s real estate history. With an increase in demand, price appreciation can’t be far behind, can it?

Actually, the answer is NO! Prices are not determined by demand alone but in the relationship of demand to available supply. The inventory of homes for sale is still too high and about to surge higher. Along with the news of increased demand yesterday, RealtyTrac released their 2010 Year-End Metropolitan Foreclosure Market Report. The report showed that distressed properties across the country are on the rise:

… foreclosure levels remained five to 10 times higher than historic norms in most hard-hit markets, where deep fault lines of risk remain and could potentially trigger more waves of foreclosure activity in 2011 and beyond.

The report also explained that the foreclosure epidemic is spreading to more and more of our communities:

… foreclosures became more widespread in 2010 as high unemployment drove activity up in 72 percent of the nation’s metro areas — many of which were relatively insulated from the initial foreclosure tsunami.

What does this mean for prices?

Here are a few quotes from this week.

Washington Post:

The closely watched S&P/Case-Shiller report shows that housing prices, compared year-over-year, have declined nationally for six consecutive months. The downward path suggests that housing prices could, by spring, hit their lowest level since April 2009, said David Blitzer, the index committee’s chairman.

New York Times:

A new slide in housing prices has begun in earnest, with averages in major cities across the country falling to their lowest point in many years.

CNN Money:

Barclay’s Bank analyst Theresa Chen doesn’t expect a reversal in housing market trends any time soon, since there is no end in sight to the foreclosure crisis.
“We expect softness to persist,” she said, “as home prices continue to face headwinds from the large pipeline of foreclosures entering the market.”

Housing Wire:

“… we believe that home prices will continue to weaken on a month-over-month basis until spring, and a year-over-year basis through the end of 2011,” the Radar Logic said.

Bottom Line

Prices will continue to soften in the first half of 2011 in most regions of the country. This information should be taken into consideration if you plan on selling your house in the next twelve months.



Reprinted from KCM Blog

What The Crystal Ball Says About Rates

Predicting what will happen with interest rates is risky for a person’s credibility. Last year at this time, I believed rates would climb after June and for very logical reasons: the end of the Fed’s purchase of mortgage-backed-securities (MBS) and the end of the Tax Credit. What we didn’t anticipate was the collapse of the Greek economy.

That being said, I firmly believe that my opinion on the topic has some value. So, here’s my opinion (which assumes the governments of Ireland, Spain and Portugal stay solvent and no other major geo-political event occurs- like a war or terrorist activity).

The Fed and the federal government have publically stated their desire to get the American Economy back on track. Their goals:
 Creating Jobs. They want to put Americans to work.
 Improving Production in the corporate and manufacturing sectors (which will create jobs and profits)
 Ratcheting Up Inflation in order to get prices moving upwards (really as a prevention of deflation)

Accomplishing these goals will likely improve the fortune of businesses (by creating higher sales, profits and stock prices). In turn, the expectation is that these businesses will expand (spending money and creating jobs). The money spent and jobs created will beget more spending in the private sector which will, in turn, create more sales, profits and jobs for the businesses. Logical? Yes. Simple to accomplish? No.

Rewind 18 months: the Fed decided to buy massive quantities of mortgage-backed-securities to keep rates low (which encourages businesses to borrow and invest….and to refinance their existing debt to help their bottom lines). Unfortunately, there was little confidence in the plan and many businesses instead of expanding, actually tightened their belts. You see, CONFIDENCE is a crucial component to any recovery. There wasn’t enough confidence (look at the November elections as proof).

But in the last few months, Americans seem to have to begun to feel that things can and will improve. QE2 has encouraged borrowing and expanding. Jobs are starting to come back slowly. The infusion of $600 billion into the economy from the Fed via their new MBS purchase program is both inflationary and helpful in devaluing the dollar abroad (which allows foreign money to buy more American goods and services for less). That helps improve sales, profits and jobs for businesses here. The wheel is beginning to grind its way in the right direction. At least, there is some confidence in that plan.

How is all this likely to affect mortgage interest rates?

 Inflation is always…bad for rates
 More jobs is inflationary…bad for rates
 A strong stock market…bad for rates
 A devalued dollar helps companies selling abroad and their stock value…bad for rates
 Consumer Confidence typically good for stock prices…bad for rates

Conventional wisdom is that, while rates have climbed from the low 4s to about 5% already, 2011 looks to be a volatile year with rates bouncing from 4.75% to 5.5% throughout the year. That’s a significant range and it behooves home buyers to pay attention and strongly consider locking in their rates when they are 5.125% or lower.

Additionally, home sellers need to recognize that a .75% hike in rates makes a home about 8% more expensive to afford monthly. As we know, buyers don’t buy on price but instead buy on monthly carrying costs. Sellers are going to have to lower their prices by 8% to achieve the same cost for their buyer.

That’s my prediction in an unpredictable world….Let the debates begin

Reprinted from KCM Blog

Distressed Inventory to Step Out of the Shadows

We are beginning 2011 with much more positive news about real estate than we have had in several years. The pending sales numbers (houses going into contract) have been climbing for several months. Last month’s Existing Homes Sales Report from the National Association of Realtors showed an increase of over 12%. Demand definitely seems to be increasing. Does that mean prices will begin to appreciate? Probably not. Though buyers have finally come out of hiding and started to purchase homes again, an increased inventory of distressed properties is also emerging from the shadows. These houses will impact prices.

Prices are determined not by demand alone but instead by the relationship of demand to the supply of inventory available. We are talking about the ‘shadow inventory’ of homes that will come to market at discounted prices when they are sold as short sales or foreclosures. This inventory has swelled to several million units.

When will this begin and what impact will it have on prices?

Over the last year, banks have been slowly releasing this inventory to the market being careful not to release too great a number in fear of driving down house values even further. Over 25% of all sales in 2010 involved a distressed property. The numbers increased as the year went on with 33% of all sales in November being in this category. In December, that number jumped to 36%! It now seems that banks are preparing to increase the flow of such properties to the market.
Last month, CNBC reported on economist Nouriel Roubini’s predictions on this issue:

“There has been an effective moratorium on foreclosure,” said Roubini.
And the beginning of the end of that moratorium means more housing supply is about to become available on the market.
“The shadow inventory of not-yet-foreclosed homes—due to the moratorium—will surge in the next year,” Roubini says.

Bank of America said:

…it resumed foreclosure sales in most states that have a non-judicial process, but the bank won’t restart sales in judicial states until sometime in the first quarter.

And Housing Wire reported last week that Fannie Mae “directed its mortgage servicers to delay scheduled foreclosure sales 45 days” for borrowers trying to get assistance through certain government programs.
What impact will this have on prices? Wells Fargo projected that house prices will drop 8% by mid-year. Fannie Mae and Bank of America have also predicted price depreciation for the first half of 2011.

Should I wait to purchase?

Not necessarily. Remember, sellers should sell now before prices do begin to fall. However, as a purchaser, you should look at cost. With interest rates on the rise, waiting may result in a higher monthly mortgage payment even with a lower sales price.

As a good example, Mr. Roubini, who was mentioned above, just sold his home and upgraded to a more expensive residence. Get counsel from a mortgage professional before you consider delaying a purchase.

Bottom Line

If you are looking to sell, you probably want to do it before this ‘surge’ of discounted competition comes to market.



Reprinted from KCM Blogsite

Is the Housing Market Starting to Come Back?

It seems that the housing market is finally showing signs of a recovery. We are not suggesting that it will come roaring back and we will see 2006 numbers again. However, the National Association of Realtors released their December Existing Home Sales Report yesterday. The report showed a 12.3% increase in closed transactions over the month before. Earlier in the week the Census Bureau reported that:

Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 635,000. This is 16.7 percent above the revised November rate of 544,000.

Should we believe that real estate is starting to make a comeback? To some degree, we think yes. Both of the above reports are promising.

However, not all the news in the reports was positive. Existing home sales were slightly down from the same month last year. Housing completions were down 22.2% from last year’s numbers. Yet, we must also factor in that the numbers from the end of last year were artificially inflated by the Homebuyer Tax Credit. Any correlation between these numbers is not an apple-to-apple comparison.

These reports, coupled with anecdotal information we are receiving from the agents we coach all across the country, seem to suggest that we may have bottomed out in regard to the number of transactions being completed. That can only be a positive for the industry.

Bottom Line

Even though there is a huge amount of visible and shadow inventory which will continue to put downward pressure on prices, it seems that buyers are beginning to realize that there are tremendous opportunities in the market.



Reprinted from KCM Blog

Most Americans Say It Is a Good Time to Buy a Home

We have been making two major points for several months. If you are selling a house, you must do it now AND if you are buying one, you must also do it now. This sounds crazy – but it is true. PRICE is the most important thing to a seller. With prices projected to fall through the first half of 2011, if you want to sell, do it now. The alternative might be to wait over a year just for prices to recover to current values.

The second point revolves around the fact that buyers are more concerned about COST (price AND interest rate). Fannie Mae, the National Association of Realtors, the Mortgage Bankers Association and the PMI Company are all projecting interest rates to rise this year. If you want to buy, your best time to purchase could be right now.

We have had people question us on the second point. We truly believe it is a good time to buy however. And a new survey says that the majority of Americans agree with us. Gallup just released a poll showing that 67% of Americans think this is a good time to purchase a home. The interesting thing is that the same poll showed that more people believed that prices would decrease (27%) than increase (21%). Most people realize that this is a opportune time to purchase even if prices continue to soften.

Even the Gallup people weighed in on the subject:

Overall, there is good reason for most Americans to think now is a good time to buy a house. Interest rates remain near historic lows. Home prices are down sharply, providing many incredible buys.

Bottom Line

There may be people advising you to use caution before buying a home right now. That is probably good advice. However, there is a difference between caution and fear. Fear could paralyze you and prevent you from making a good decision. Caution will make sure you make the right decision. And remember: if you do think it makes sense to buy your home today, 2 out of 3 people agree with you.



Reprinted from KCM Blog

Why Prices Will Soften in the 1st Half of 2011

The big question facing real estate in 2011 is which direction are home prices headed. We agree with most experts who believe prices will continue to soften for the first half of the year. Supply and demand will determine this. Let’s look at where real estate sits entering this year compared to the beginning of 2010.

Demand

1.) Last year, The Home Buyers Tax Credit was both extended to the end of April and expanded to include move-up buyers. This increased demand to some degree. However, most now believe that the tax credit simply dragged demand forward from later in the year. What took place was a surge in sales prior to the deadline and then a dramatic fall off after April.

This year, there is no such tax credit in place to drive demand. It also seems that there is no political will to revisit a homebuyers’ tax credit at this time.

2.) Last year, the Fed’s purchase of mortgage-backed-securities was extended to the end of March. That increased demand by guaranteeing low interest rates through the first quarter. And economic conditions forced interest rates to new lows even after the Fed backed off the purchases. There was a full six months of historically low rates to bolster demand.

This year, interest rates are rising as we enter January and are projected to continue their upward climb. The National Association of Realtors, the Mortgage Bankers’ Assoc and PMI are all calling for rates to continue to rise through the first half of 2011.

Supply

1.) Last year, the administration was taking the initial steps in implementing a comprehensive loan modification program. This program limited the number of foreclosures coming to the market at discounted prices. It also delayed the entrance to the market of many more distressed properties. According to the OCC and OTS Mortgage Metrics Report, we enter 2011 with “newly initiated home retention actions” down 32.4% from the same time last year.

This year, the administration is touting their new ‘short sale’ program. This will increase the number of distressed properties hitting the market.

2.) Last year, state and local governments were declaring foreclosure moratoriums thereby limiting the number of foreclosures entering their markets. There doesn’t seem to be the same political will to revisit moratoriums in 2011.
This year, though the robo-signing mess will initially delay the entrance of some distressed properties to the market, most believe there will be a wave of discounted properties coming in the first quarter.

CNBC reported on economist Nouriel Roubini’s predictions on this issue:
“There has been an effective moratorium on foreclosure,” said Roubini.
And the beginning of the end of that moratorium means more housing supply is about to become available on the market.

“The shadow inventory of not-yet-foreclosed homes—due to the moratorium—will surge in the next year,” Roubini says.

Bottom Line

Without the programs that encouraged buyers last year, we see a steady but slow growth in demand.
Without a strong commitment to limiting distressed properties, we believe that there will be a wave of discounted real estate entering the market in the form of ‘short sales’ and foreclosures.

A limited increase in demand and a surge in supply will equate to lower home prices as we move into the year.




Reprinted from KCM Blogsite

Are Short Sales the BIG Solution?

Some courts are attempting to void the foreclosure if the bank did not properly transfer the mortgage from one bank to another. The courts are claiming that, if you didn’t ‘legally’ transfer ownership of the loan documents, then you don’t ‘legally’ own it. If you don’t own the debt instruments, you can’t foreclose on them. What does this mean to banks when they handle future foreclosures?

One possibility is that banks may start favoring ‘short sales’ over foreclosures in more cases. The ‘short sale’ option has already been gaining momentum. The OCC and OTS Mortgage Metrics Report shows foreclosures are up 57.5 % year over year; ‘short sales’ are up 82.9%.

Now, with courts scrutinizing the foreclosure process, it may make more sense for banks to work with the current homeowner to sell the home even if it is at a price less than the amount owed on the mortgage. Adding to this possibility is that banks could lose less in a ‘short sale’ than a foreclosure. A ‘short sale’ sells for 81% of what a similar, non-distressed property would sell. A foreclosure sells for 59% of full value.

In the past, banks weren’t concerned with the difference because mortgage insurance companies had the legal requirement to cover the majority of the additional loss. However, insurance companies are now fighting these payments claiming that the original mortgage application might have been fraduantly written. This all adds up to the liklihood that banks will look more favorably at the ‘short sale’ process.

To this point, an article in Housing Wire quoted John Vella, the chief operating officer at technology provider Equator:

“Investors usually see a 20% to 30% better execution on a short sale versus an REO sale when it comes to loss severity. With the foreclosure volume, current and pending REO inventories, servicers will be pressed to do more short sales in 2011…they could see an increase of at least 25% over 2010 in completed short sales.”

Bottom Line

For the reasons mentioned above, the banks will probably lean more toward ‘short sales’. If you are a homeowner not able to pay your mortgage, this may be a much better option then allowing the home to go to foreclosure.



Reprinted from KCM Blog

Vacation Homes Emerge as Hot Market

Daily Real Estate News January 10, 2011


Vacation communities across the United States are showing big signs of a rebounding real estate market, reporting soaring sales at levels that have not been been seen since the days of the housing boom, The Wall Street Journal reports.

The increase has been driven by deep discounts and cash purchases, analysts say.

"We haven't felt energy like this in a long time. Buyers sense that they've been on the sidelines long enough," says

Ned Monell, a real estate professional with Sotheby’s International Realty in Palm Beach, Fla. Palm Beach posted a nearly 40 percent annual increase and a 54 percent increase in homes under contract.

The following is a sampling of vacation-home communities that saw an increase last year (percentage is the increase in home sales from 2009 to 2010):

▪ Barnstable County, Cape Cod, Mass.: 9 percent
▪ Hilton Head, S.C.: 13.6 percent
▪ Mercer Island, Wash. (waterfront): 181.8 percent
▪ Palm Beach, Fla.: 39.3 percent

National Association of REALTORS® Chief Economist Lawrence Yun attributes the increase to gains in the stock market and an overall improving economy. He says prices in these areas have come down so much that there’s been high demand for these properties among buyers, particularly in areas with stable labor markets.

Rent vs. Buy: Do the Math and Then Ask Mom

We are starting to hear from real estate professionals that a growing number of purchasers are young adults being persuaded to buy now. Who are the people selling them on the American Dream? Their parents! It seems that parents of some adult children are strongly suggesting that their children take advantage of the low cost of homeownership available today. Some moms and dads are helping financially and are even co-signing for the mortgage.
At first, we found this to be rather surprising. However, after thinking about it, it made complete sense. Here are the reasons why.

Do the Math

Let’s look at the financial aspects of renting vs. buying. With house prices falling and rental prices rising in many markets, the possibility that owning a home could cost less than renting one is growing.
In an article from CNN Money earlier this week, they looked at this issue as we move into 2011:
Perhaps not surprisingly, it makes more financial sense to rent than buy today in many U.S. cities…
But that may finally be about to change. Moody’s chief economist Mark Zandi expects the trend to reverse this year in many major cities.

“By mid 2011 and certainly by end of 2011, buying will be superior to renting in most parts of the country,” Zandi says.
(See the ratio in certain markets here.)
As one person said to us recently: “Rents are like adjustable rate mortgages. They adjust often and most times they adjust upward!”

Talk to Mom

Middle age parents who have owned a home understand its true value. A home has always been a good long term financial investment. However, homeownership also has many other benefits.
As a matter of fact, Fannie Mae just came out with their National Housing Survey which asked the question directly: Is this a major reason to buy a home?

The study broke up the answers into financial and non-financial reasons. The top four reasons and six of the top ten reasons were NON-FINANCIAL. The top four are below:

1. It means having a good place to raise children and provide a good education.
2. You have a physical structure where you and your family feel safe.
3. It allows you to have more space for your family.
4. It gives you control over what you do with your living space (renovations & updates).
Should this surprise us? Aren’t these the same reasons our parents bought their home? Aren’t these the same reasons we purchased our home?

These are the same reasons parents have suggested their children buy a home. They want the same things for their grandchildren that they believed to be important for their children.

Bottom Line


Now that the craziness of this housing market is beginning to show signs of settling, people are getting back to the core values that families have always embraced. Homeownership is definitely high on the list.





Reprinted from KCM Blog

Public Service Announcement

SOUTHERN DIGITAL ART.COM
Beautiful shot of the North End!!!


Check out the fantastic shot by Paul Boroznoff of Southern Digital Art.com of the North End of the Island. For more information, give Paul a call at (910) 386-3541



CHRISTMAS TREE RECYCLING
Carolina Beach & Kure Beach


KURE BEACH will be picking up Christmas Trees for recycling on Thursday, January 6th and Thursday, January 13th. Make sure all ornaments and lights are completely off of the tree and leave at the curb. This is in addition to regular trash and recycling pick-up and is for Christmas Trees only. Additional trash on these two Thursdays will not be picked up. Meanwhile in CAROLINA BEACH, the Town's Operations Department is currently collecting trees for composting and recycling. Again, please remove all ornaments and lights from the trees before placing at the curb. Thank you for taking the time to recycle and help 'green' our planet just a little bit more.

PANCAKE BREAKFAST FUNDRAISER
Saturday, January 8th - 7:30-11:00 am

Katie B. Hines Senior Center at 308 Cape Fear Blvd. will host an ALL YOU CAN EAT PANCAKES served with a side of eggs, sausage, juice and coffee. Adults $6.00, kids under 8 eat free, over 8, $4.00 with adult purchase. Takeout available.

Call (910) 458-6609 for more information.

"GLORY ENOUGH FOR ALL"
Ft. Fisher State Historic Site
Saturday, January 15, 2011

The year 2011 marks the 146th Anniversary of the end of the Civil War. To commemorate the Second Battle of Fort Fisher (the largest land-sea battle of the Civil War), the Fort Fisher State Historic Site will stage "Glory Enough For All", an all day event on Saturday, January 15, 2011 beginning at 10:00 am until 4:00 pm.. The program will focus on post-war reunions and efforts to memorialize the battle. The event will also serve as the kick-off for the sesquicentennial (150th) commemoration of the Civil War in North Carolina.


The Fort Fisher State Historic Site is located in Kure Beach, at 1610 Fort Fisher Blvd. South, along US Highway 421 South. For more information call 910-458-5538 or go to www.fortfisher.nchistoricsites.org


CAPE FEAR COMMUNITY COLLEGE
SMALL BUSINESS CENTER

Check out the FREE SEMINARS put on by CFCC SBC at www.cfcc.edu/sba. The January Schedule offers the following programs:
• How To Make Networking Work For Your Company (1-11-11)
• Understanding & Improving Your Credit Score (1-13-11)
• Insurance Issues For Your Small Business (1-18-11)
• How To Maximize the Benefits of Social Media (1-20-11)
• Save Energy & Save Money - the Green Way (1-25-11)


WILMINGTON SEO
Jump Start Your Business in 2011

Increase your online visibility and internet traffic to your website, blog, or Facebook page through Search Engine Optimization from Wilmington SEO & Marketing. If you don't already have an online presence they can help you create a simple and inexpensive website or optimize online local listings to help locals and vacationers find your business.

* Serving companies ranging from small businesses to National corporations.
* Custom SEO & marketing plan to fit your goals and budget.
* Free consultation & online marketing analysis.
* Contact Megan Criss at 910-547-6908 or megan@wilmingtonseo.com.

HAVANA'S RESTAURANT
Grand Re-opening

On Thursday, January 6th, 2011 HAVANA'S will open permanently for the Season . We will be open 7 nights a week with brunch on Sundays. We have renovated our restaurant and we are excited to open our new bar & dinning room. Keep posted on Facebook for details.

1 North Lake Park Boulevard
910.458.2822


GRAND OLE OPRY
Locals Block Party

The Lazy Pirate is bringing old-fashioned, back home, good time music to Pleasure Island. Featuring DC and the Chosen Few (A Nashville Legends Band) and a delicious Chicken Bog for all to enjoy, join David, Danny and the great staff on January 15th for a good time. This band loves to put a smile on your face by playing a variety of Country, Beach, Rock & Roll and Bluegrass.

Darrell Connor (DC) has appeared on the Grand Ole Opry stage with the likes of George Hamilton IV and has performed with Randy Owen (Alabama). Come on by and have some good food and a cold one and enjoy this unique blend of Americana right here on Pleasure Island.



A PICTURE PERFECT EVENT-UNDER THE SEA
NC Aquarium at Ft. Fisher

Looking for the perfect place to have your dream wedding, holiday party, prom, or other special event? Look no further, the NC Aquarium at Fort Fisher is just the place for you! The Aquarium is available for rental during and after-hours. The spacious facility can accommodate up to 250 seated or up to 2,000 strolling guests and your event can be held indoors or outside on the nature inspired garden deck.


The North Carolina Aquarium at Fort Fisher is one of the most enchanting places to hold a fairy tale wedding under the sea or a holiday party sure to have people talking all year long. Your special day will be held among breathtaking fishes and exotic animals that create a magical underwater atmosphere. Guests can be seated in front of the 235,000 gallon Cape Fear Shoals exhibit, which harbors an assortment of magnificent fish and aquatic life. Activities such as, the touch tank or a dive show can be added to make your event even more memorable.



KURE BEACH PARKS & RECREATION
Bus Trip to see "Hooray for Hollywood"

Kure Beach Parks & Recreation has planned another bus trip that will take place on Thursday, March 3 to take participants to see the production of "Hooray for Hollywood" at the Palace Theatre in Myrtle Beach, SC. This show promises to be a nostalgic journey through the most popular movie musicals of the last 50 years.
The chartered bus will leave Kure Beach Town Hall at 9:00am and will return at 6:00pm. The cost of the trip is just $41 per person, which includes round-trip bus fare and admission to the show. WHAT A BARGAIN! Participants will be given a few hours to shop and get lunch at Broadway at the Beach before heading to the 2:00pm show. TICKETS ARE ON SALE NOW at Kure Beach Town Hall. Cash or check only; no credit cards accepted.For more information contact Nancy Hewitt at 910-458-8216




WILMINGTON CONVENTION CENTER
Visit Chamber Members 1/13-14/2011



Chamber Events
Ribbon Cuttings

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 (910) 458-8434 for more information


New Members


The Veggie Wagon
(910) 805-3014
www.theveggiewagon.com
Fresh Local Produce Delivered RIPE to your door!

OPENING SOON
Snow Cut's Cafe
1140 N. Lake Park Blvd.
(910) 707-0550
www.royalventuresinc.com
Breakfast, Lunch & Dinner

Midas Auto Service & Tires at Monkey Junction
Loid Atkinson III
(910) 617-2828
5526 Carolina beach Road
LRAIII@aol.com
Complete Automotive Service

Kincaid and Associates
Attorneys at Law
Mitzi Kincaid
(910) 399-7907
4837 Carolina Beach Road, Suite 207
www.kincaidandassociates.com
Law firm providing wills, estate planning, elder law, tax law, intellectual property protection and General Business Counseling

The Pink Flamingo
(910) 707-0359
Teri Russell
403 Fern Creek Road
teripinkflamingo@charter.net
Unique jewelry and other fine collectibles

Tell your business acquaintances, friends and associates to join you at the Pleasure Island Chamber Of Commerce
click for more info



SAVE THESE DATES


Special Olympics
Polar Plunge
February 19, 2011
(910) 341-5876
www.plungenhc.com

7th Annual Steve Haydu St. Patrick's Day LoTideRun
March 19, 2011
(330) 417-0144
www.lotiderun.org

Suncoast Cruiser
" Back To The Beach" Car Show
April 1st & 2nd, 2011
(910) 231-6877
backtothebeachcarshow

Island Of Lights
Fashion Show
April 2, 2011
(910) 617-5945
www.islandoflights.org

15th Annual Pleasure Island Chowder Cook-off
April 16, 2011
(910) 458-8434
www.pleasureislandnc.org

Kure Beach Annual
Street Fair
Joe Eakes Park
April 30, 2011
(910) 458-2816

Miss Pleasure Island
Beauty Pageant
April 2, 2011
(910) 798-6405)

11th Annual Pleasure Island Touch Of Class Charity Auction
May 6, 2011
(910) 458-8434
www.pleasureislandnc.org

13th Annual Cape Fear Disabled Sportsman Fishing Tournament
May 13, 2011
(910) 264-8397
www.got-em-on.com

26th Annual Pleasure Island Beach Music Festival
June 4, 2011
(910) 458-8434
www.pleasureislandnc.org

Carolina Beach Farmer's Market
Every Saturday from May 14th to September 3rd
Carolina Beach Lake
(910) 431-8122
janetshere@earthlink.net

Free Summer Movie Series
Every Sunday from May 29th - September 4th
Carolina Beach Lake
(910) 458-8434
www.pleasureislandnc,org


Free Summer Fireworks Series
Every Thursday Night
from Memorial Day
until Labor Day
Carolina Breach Boardwalk
(910) 458-8434
www.pleasureislandnc.org

Free Boardwalk Music Extravaganza
Every Thursday Night
from Memorial Day
until Labor Day
Carolina Beach Gazebo

Free Summer Concerts at Fort Fisher Recreation Area
2nd & 4th Fridaysof June, July & August
(910) 458-8434
www.pleasureislandnc.org

Kure Beach Double Sprint Triathlon
June 26, 2011


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

18th Annual Pleasure Island Seafood Blues & Jazz Festival
October 8th & 9th, 2011
(910) 458-8434
www.pleasureislandnc.org


Artful Living Group Opening Feb 2011
A New Kind of Art Center on Carolina Beach

A love for art combined with entrepreneurial spirits led to a partnership and the creation of Artful Living Group, LLC, an innovative art center located in the heart of Carolina Beach's Central Business District.

Christine Higgins, Janet Knott and Mo Linquist joined their creative forces and business savvy to develop this multi-faceted art center. The center is based upon a sustainable business model supporting artists through promotion of the value and appreciation of artful living.

Artful Living Group, LLC, 112 Cape Fear Blvd, Carolina Beach, NC will open in February 2011 with over 50 artists represented, artist studios, and creative workshops. For more information about artist consignment, studio leases or creative classes call Christine Higgins 610.909.7643 or email info@ArtfulLivingGroup.com


JANUARY FREE CLASSES
Carolina Beach Community Acupuncture

"FREE QI GONG CLASS"
January 15th, 2 PM
Taught by Spring Forest Qi Gong

"TREATING YOUR CHILDREN WITH
TRADITIONAL CHINESE MEDICINE"
January 23rd, 2 PM

1140 North Lake Park Boulevard, Suite I
Carolina Beach (910) 202-4718



BEACH TV WINTER DEALS

To all Members:
We are in the mist of an economic downturn that could last for a while. Beach TV and our staff have decided that we should come up with our own stimulus plan to help all of the members get more recognition and at a much more affordable price.In order to do this we have cut our prices very close to 33%. We haven't raised our prices for any of our clients for the past 8 years. In order to do this fairly we have already cut the price for our existing clients. This was a good faith move to prove that we do mean business. Now for those of you who do not know us we have been doing business in this area for the past 13 years,so this is not just a startup promotion.

Beach TV on local Ch.#3 airs every day and runs from Ft. Fisher north to a mile past Monkey Junction. We air 24/7. The next 10 who sign up for a year contract, will receive a Free Production. We have set the money aside for that (just like our Government only we will keep it in a lockbox). You are not looking at 30 second production but a minute and a half to 2 minutes spot.

Do we know we are effective? Just ask some of our clients,some of whom have been with us for over 8 years. If you are interested or just need some information please call Monty at 799-0954.

Wishing you all a very MERRY CHRISTMAS and a HAPPY,PROSPEROUS and a HEALTHY NEW YEAR. Jeff,Monty and Al

PICC PSA
(Pleasure Island Chamber Of Commerce Public Service Announcement)
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 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. We will run your announcement subject to space availability.

Father Time welcomes 2011 to the Island

THE BOARD OF DIRECTORS AND THE STAFF AT THE PLEASURE ISLAND CHAMBER OF COMMERCE WISH YOU A HAPPY AND
PROSPEROUS NEW YEAR

Carolina Beach - Kure Beach
Pleasure Island, North Carolina PICC PSA
January 7, 2011

Would You Hire A Fat Personal Trainer?

Imagine you decided to get into great physical condition in 2011. It was your most important New Year’s resolution. Would you hire an out-of-shape trainer to help you achieve your goal? Of course you wouldn’t. You would want to take advice from a person that already is in the physical condition you hope to attain.

Shouldn’t the same principle apply when considering the financial risks involved in purchasing real estate in today’s market? We should want to follow the people who have already reached a good financial position in their lives.
How do we get the wealthiest people in the country to advise us as to whether or not now is the time to buy a home? It’s actually rather easy. Just look at what they are doing and do the same.

Right now the wealthiest people are investing in real estate. It was recently reported that sales of condos over $4 million have skyrocketed. Crain’s NY Business explains:

Nine apartments asking more than $4 million went into contract last week, according to brokerage Olshan Realty. The firm tracks the high-end residential market and began releasing its data to the public last month. By comparison, during last year’s Christmas week, no apartments over $4 million went into contract …

In fact, the number of luxury apartments that went into contract so far this month, 52, rose 62.5% from the same period a year ago. UrbanDigs, an analytics and consulting firm that tracks Manhattan housing activity in real-time, confirmed the strong contract signing activity for luxury apartments last week. It defines the luxury market as including properties listed at more than $5 million and found that there were 83 such contract signings this month, up 10 from a month ago.
This coupled with previous information on the luxury purchaser proves the wealthy are again excited about real estate.

Bottom Line

If we want to make great financial decisions, we must look at what the most affluent are doing and do the same. The wealthiest are buying real estate. Shouldn’t we?



Reprinted from KCM Blogsite

Three Questions To Ask Yourself Re: Buying A Home

If you are thinking about purchasing a home right now, you are surely getting a lot of advice. And most of that advice is probably negative. Why buy now with prices still falling? Don’t you realize real estate is no longer a good investment? Don’t you know that people who bought five years ago lost their shirt? We understand the concern your friends and family have. However, let’s look at whether or not now is actually the perfect time to buy a home.

There are three questions you should ask before purchasing in today’s market:

1. Why should I buy if house prices are still depreciating?

We believe that in most parts of the country prices will in fact soften in 2011. Price is the major concern for anyone selling a home. When you are buying, COST should be your primary concern however. Your monthly payment (cost) is definitely impacted by the price of the home you purchase. The other major component is the interest rate. Waiting for prices to bottom out while rates are increasing can wind up costing you more over the life of the mortgage.

Over the last seven weeks, rates have increased over 1/2 a point going from 4.17 to 4.86. Waiting for prices to bottom out seems to make perfect sense. Yet, at a time when rates are increasing, it might NOT make sense. Make sure you have a mortgage professional help you with this math before making a decision.

In an article last week CNN Money reported:

“You can kiss those record lows goodbye,” said Greg McBride, chief economist for Bankrate.com.
Keith Gumbinger of HSH Associates, a provider of mortgage information said that the market reached a new plateau.
“I don’t think we’re going back to a 50-year low anytime soon without an economic collapse,” he said. “Rates will probably never revisit those levels.”

2. When will I begin to see appreciation if I buy now?

This is a great question. Macro Markets, LLC is a company that studies housing prices. They started their Home Price Expectation Survey in 2010. They ask 100+ housing industry experts to project housing prices through 2015. The most current survey shows that the experts are predicting prices to soften until 2012. The experts then project prices to rise reaching a cumulative appreciation of over 10% by 2015.

Purchasing a home today makes great sense from a financial standpoint. Think of the old axiom: You want to buy low and sell high. We may be at the low point regarding the COST of a home. But, this decision should not only be a financial one.

That leads us to our third and final question:

3. Why am I buying a home in the first place?

This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with finances. The Fannie Mae National Housing Survey shows that the four major reasons people buy a home have nothing to do with money:

 A good place to raise children and for them to get a good education
 A place where you and your family feel safe
 More space for you and your family
 Control of the space

What non-financial benefits will you and your family derive from owning a home? The answer to that question should be the reason whether you decide to purchase or not.

Bottom Line

The COST of a home will probably remain relatively unchanged even if prices continue to depreciate. Don’t allow money to get in the way of you making the right decision for you and your family. In the long run, the finances will work in your favor anyway.


Reprinted from KCM Blogsite