December 2008

There are 28 blog entries for December 2008.

COMING SOON

1902 Masons Bluff Court  |  Wilmington |  NC  |  28411

Lovely custom designed and built home in hard to get Mason's Bluff, a high bluff neighborhood on the ICWW across from Masons Inlet.  The home has a gourmet stainless kitchen with gas stove, extensive cabinet and prep surfaces /areas.  Large Walk in pantry, formal dining room , incredible sunroom, large covered porche, third level screen porch overlooking the waterway, private sun deck off the master suite.  In-law area with full bath and its on hvac system and access.  Two car garage, plus a Two space carport with ceiling fans, lights, TV, Speakers, half bath and more.   An ideal family gathering area, rain or shine.

Home was custom designed and engineered to handle our coatal winds,

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WASHINGTON (AP) - Mortgage rates are falling as this week's dramatic action by the Federal Reserve provides a boost to the dismal housing market, but the nation's unemployment rolls are stuck at historically high levels amid a deepening recession.

Mortgage giant Freddie Mac on Thursday reported that rates had fallen to the lowest level on records dating back to 1971. Average rates on 30-year fixed-rate mortgages dropped to 5.19 percent, down from the year's previous low of 5.47 percent, set last week.

Jobs data from the government, while better than expected, was still sobering. The Labor Department on Thursday said its tally of initial jobless benefit claims fell to a seasonally adjusted 554,000 from an upwardly revised figure of 575,000 the previous

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The glut of homes listed for sale continues to shrink gradually in many metropolitan areas.

In November, the supply of homes available for sale in 29 major metropolitan areas was down 3.6% from a month earlier, according to figures compiled by ZipRealty Inc., a real-estate brokerage firm based in Emeryville, Calif. The ZipRealty data cover all single-family homes, condominiums and town houses listed on local multiple-listing services in the 29 metro areas where the firm operates.


On a national basis, home inventories typically decline modestly in November from October. Over the past 25 years, the average decrease in November has been 1.9%, according to Zelman & Associates, a research firm.

The November inventory in ZipRealty's 29 metro areas was down

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Sales are picking up in markets where prices are deflated, but the business is different than it was before the bubble burst, observers say.The housing market in deflated markets--like Arizona, California, Florida, and Nebraska--are beginning to show signs of a rebound. Lawrence Yun, National Association of REALTORS® chief economist, said the rebound is an indicator that buyers are returning to the market.
http://www.realtor.org/RMODaily.nsf/pages/News2008121602?OpenDocument
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The Federal Reserve entered a new era yesterday, lowering its benchmark interest rate virtually to zero and declaring that it would now fight the recession by pumping out vast amounts of money to businesses and consumers through an expanding array of new lending programs.
http://www.nytimes.com/2008/12/17/business/economy/17fed.html?th&emc=th

 

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One of the great secrets in North Carolina is the permanent livability of the area, especially Topsail Island real estate. The southeastern side is coastal and promises one of the highest quality areas of community and lifestyle. The beaches are pristine and uncrowded, safe from the crowds who inadvertently destroy the land and surroundings. Another great reason to join the locale is the image of “paradise” the residents use to describe themselves. Do some research into Topsail Island homes and you’ll find affordability, accessibility, and a lifestyle people want and need.
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There is a compelling real estate opportunity in the southeast corner of North Carolina. It’s Southport real estate. Southport NC is on the coast but close to Wilmington, their airport, interstates, university and medical facilities. If you or one of your clients is looking for a getaway, vacation home, retirement locale, or relocation destination, I hope you look at Southport. It’s a great coastal community with history, the arts, community events, outdoor activities and recreation, with convenient access to the outlying islands.
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NEW YORK (CNNMoney.com) -- In its latest effort to try and stimulate the U.S. economy, the Federal Reserve cut its key interest rate to a range of between zero percent and 0.25%, and said it expects to keep rates near that unprecedented low level for some time to come.

The central bank typically sets a specific target for its federal funds rate instead of a range. The rate had previously been at 1% and this marks the first time the Fed has cut rates below 1%. Most investors were expecting the Fed to cut rates to either 0.25% or 0.5%.

The federal funds rate is an overnight lending rate used as a benchmark to set rates for a variety of loans, including adjustable rate mortgages, credit cards, home equity lines of credit and business loans. This marks the

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Don't Wait For The Federal Government | Get 4.5% 30 Year Fixed Rate Now! 

Wilmington, NC -  The President of Everett Builders corporation, in conjunction with Chris Hutchens at Alpha Mortgage Corporation, has agreed to offer a one-time interest rate buy down for qualified buyers on select completed new homes in Courtney Pines, The Willows of Leland and Woodlake.  This buy-down program is to allow buyers to go ahead and make their purchase now and not wait and hope the federal government will offer the much talked about 4.5% 30 year fixed mortgage rates. 

There are only a limited number of homes that qualify for this plan.  There are minimum requirements (ie credit score, down payment etc) that do apply and Everett Builders may cancel this offering at

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RISMEDIA, Dec. 16, 2008-(MCT/RISMedia)-A Harvard-educated architect is Barack Obama’s choice to head his housing agency, one which the president-elect says will play a key role in tackling the mortgage crisis in his administration.

Shaun Donovan will bring “fresh thinking” to the Department of Housing and Urban Development, Obama said Saturday, pledging that his nominee will abandon “old ideology and outdated ideas” that have stymied some of the agency’s past efforts.

“We can’t keep throwing money at the problem, hoping for a different result,” Obama said in his weekly radio address. “We need to approach the old challenge of affordable housing with new energy, new ideas, and a new, efficient style of leadership.”

Donovan, 42, a former HUD official, is

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