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Archive for October, 2009

Forum Postscript, Part 2

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Another of the topics touched upon in the recent Landfall Real Estate Forum was national trends in the 55 years of age and older population.   A few of those trends, as reported in various builder and real estate studies, include the following:

  1. There is a strong preference for single family, detached homes.
  2. Most buyers want single floor construction, and almost all want master bedroom and living space on the lower level, even if the home is multi-story.
  3. About 75% like the open floor plan home, where the kitchen and primary family room are free flowing.
  4. Technology is important.   Fiber to the home is great; multiple phone and computer connections are desired.
  5. Far fewer prospects than during the boom are willing to pay extra for “green” features that have environmental benefits, but efficiency that saves money (such as energy savings) are still sought.
  6. More pre-retirees are considering staying put, rather than relocating when retirement comes.

Fortunately, more potential customers in Landfall’s prime market region, the northeast, are likely to relocate than those in warmer climates, and there is some pent up demand since the slow down in the national real estate market has drug on for a couple of years now.

As a seller, be cognizant of how your home stacks up with the desires of the majority of the market.  The closer to the ideal, the more marketable the home.

Kenneth M. Kirkman, General Manager, Landfall Realty

Landfall Real Estate Forum Postscript

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Real Estate Forum at CCL

Real Estate Forum at CCL

Thanks to the 120 or so Landfall residents who came to the Landfall Realty Fall Real Estate Forum Wednesday at Country Club of Landfall.   I was happy to see such a diversity of age, background and interest.   Our attendees clearly understand that the value of property, and its pace of sale, impacts all residents in a significant way.

I trust those in attendance recognized that in these forums I attempt to go well beyond the numbers by focusing on trends, and making observations about what I and my Landfall Realty staff expect to see in the future, fully recognizing that despite our extensive experience and research, we, like everyone else, might be fooled.   Several attendees commented as I left the Club that they had expected to hear a typical real estate rah-rah presentation, and were pleasantly surprised by the rather analytical approach I try to  take (even if the news is not all good).  My goal is to convey what I believe, not what I hope, and to give  reasons why.

In this and future blogs, I will briefly summarize some of the points that were presented in more detail at the forum.   Today, a few Landfall facts:

1) The total number of transactions in 2009 will likely be just a few short of the transactions in 2008, but the average selling home price is down more than $100,000.

2) Sales prices on average are at about 2005 levels.

3) Homes are selling better than home sites.

4) Lower priced homes are selling at a much better pace than more expensive homes.

5) The pace of construction of new homes may be at an all time low, as only 2 applications are now in front of the ARB.

6)  By the end of 2010, Landfall will have, or least will be nearing, 1500 completed homes.

7) The sales pace has been stronger late summer and fall than it had been earlier in the year.

More to come.   Again, thanks to those in attendance.  Your feedback is always appreciated, whether by response to this blog, or email, or phone.

Kenneth M. Kirkman, General Manager

Wilmington Restaurant Week October 21-October 28

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food

Wilmington Restaurant Week

How sweet is this deal for Landfall, NC property owners and our Wilmington, NC area neighbors??  Over 25 eating establishments are participating in an incredibly flavorful event!  You can go to the event website at http://www.wilmingtonrestaurantweek.com/ to see if your local favorite is in the group, or check to see if that eatery you’ve been dying to try is on the list.  Clicking on the restaurant will take you to the menu for the 3 or 4 course prix fixe menu and allow you to print out the necessary pass to partake of the lunch or dinner (or both).  Restaurants are scattered all around from downtown to Landfall and Wrightsville Beach and from Leland to Monkey Junction with prices ranging from $5.99 lunches and dinners at PriddyBoy’s (University Landing only) to $30.00 dinners at some of the area’s best dining experiences (think Ruth’s Chris Steak House,  Deluxe, or Oceanic  for example).  Reservations may be necessary at some locations and some of the restaurants may not include Friday and Saturday dining so be sure and note the days and times of the particular place you’re interested in before you make your plans and start partaking of these scrumptious meals.  Unfortunately, this Wilmington, NC event only lasts eight days so jump right in today and enjoy the culinary treats of our great chefs, yum!

Real Estate Forum

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A reminder that the Landfall Realty fall Real Estate Forum is today (Wednesday, October 21) at 5:30 pm at Country Club of Landfall.  All Landfall property owners are invited.  As those who attended our fall update know, we  go behind the numbers by discussing trends, and by offering observations we hope are of use to buyers, sellers, and those just interested in how the real estate market impacts all Landfall properties and their valuations and marketability.  Hope to see you late this afternoon.

8th Annual Wilmington Octoberfest Is This Weekend, October 16 and 17

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photo from www.wilmingtonocktoberfest.com

Just down the road a piece from Landfall, NC at Racine Commons you’ll find a bit of Bavaria in Wilmington, NC this Friday and Saturday, October 16th and 17th.  The first keg of Octoberfest 2009 arrives amongst all the fanfare of parades and processionals and after the horse drawn wagon delivers the German brew, Mayor Bill Saffo will tap that first keg and the fest will officially be underway.  Those attending the opening ceremonies will enjoy Friday night’s festivities for free!

The 8th Annual Octoberfest is bigger and better with additional events and an expanded KidsZone including the Home Depot tent, always a big hit for kids who want to make a wooden project.  They’ll bring all the tools and supplies — and even some of those fancy orange aprons to use.  They’ll also be free pumpkin painting, Fire Department Obstacle Course, Firetruck visit, tricks by the wizard, and much, much more.

Lest parents need prompting to attend, there will be plenty of great food, beer, and music to keep the adult folks entertained!   All of this for a minimal charge for adults, and kids under 10 are free.

The Wilmington Ocktoberfest benefits the Child Advocacy and Parenting Place (CAPP) Center, which works to prevent child abuse and neglect by focusing on parenting skills.  This is not only a great fun way to spend part of your weekend, but a very worthwhile one.  Please visit the Octoberfest website at www.wilmingtonocktoberfest.com for more details and make sure you bring your Oom Pah with you!

Landfall Realty Supports Pink Ribbon Event

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PinkRobbon group cropped

On October 8th, the agents and staff of Landfall Realty sponsored a Table at the Pink Ribbon Breakfast at the Wrightsville Beach Holiday Inn Resort. The New Hanover Regional Medical Center Foundation added the Breakfast event to their luncheon and dinner program three years ago and we are very proud to have been able to participate in this special fund raiser all three years. This wonderful Pink Ribbon group honors those who have survived as well as those who have lost their battle with breast cancer.

 Since the inception of the Pink Ribbon events, the NHRMC Foundation has raised over $1,000,000  to help pay for mammograms for uninsured women and to provide comfort bags for those newly diagnosed patients.  Many Landfall property owners serve on the volunteer committees that organize and plan this special event. I also saw many of our neighbors in attendance in the room-capacity crowd.  This year’s speaker, Connie Hill, is a local survivor whose children attended preschool with mine, so her story was especially touching to me. As I leave this function every year, I marvel at the courage and strength of these women and I find myself ever more grateful for all that is good in my life—family, friends, and most of all—my health.

 As chair for this year’s NHRMC Hospital Foundation Gala, our desire is to raise money for the Women and Children’s Center.  It is always encouraging to see the fabulous turnout at our local fund raising events and to realize how generous the entire Landfall community has been, and what a wonderful city of Wilmington, NC, we live in, full of devoted men and women of great charity.

Becky Spivey

Landfall Realty Broker

From Art, to Music & Food, to Ghosts – It’s Another Non-Stop Weekend in Wilmington, NC

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Those of us who live in the Landfall, NC area consider ourselves fortunate to be living where the activities are as diverse as our population.  This upcoming weekend is a perfect example!  

Art in the Arboretum

Art in the Arboretum

 

Art in The Arboretum – Saturday and Sunday  10/10-11 beginning at 10AM
The event will feature local artists’ works displayed and for purchase including canvas, pottery, wood, all sorts of sculptures and baskets. The Ability Garden will have a plant sale with small, reasonably priced fall plants, live music by local area musicians, and fun for the entire family. Admission is $5, children 14 and under free. Call 910.798.7660 for more information.

Seafood, Blues & Jazz Festival

Seafood, Blues & Jazz Festival

 

Pleasure  Island 16th Annual Seafood, Blues & Jazz Festival – Saturday and Sunday  10/10-11,  11AM  Headlining the Festival this year is quintessential Texas blues rocker Delbert McClinton. Bring your lawn chairs and revel in two days of non-stop jazz and blues on two stages, as well as scrumptious seafood from some of the area’s best restaurants. There are tons of additional things to occupy you and for the kids, there is a special Kidz Zone. Please, no coolers and no pets. Call 910.458.8434 or log onto http://www.pleasureislandnc.org  for more information.

 Ghost Hike at Fort Fisher State Recreation Area – Saturday, 10/10 8PM
The Fort Fisher Area trails are normally closed during night hours but will be open this night for those who join the Ranger on the ghost hike. You may bring flashlights if you like. Guests should arrive at 8pm at the visitor center. Space is limited so call 910.458.5798 for reservations.

There’s always so much more to do than we can possibly tell you about here, so to see more of what’s happening in the Wilmington, NC area this upcoming week visit http://www.cape-fear.nc.us/events/ and see how much you can fit into your schedule!

Landfall Realty Tour Features Array of Homes

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home tour 09 mem-guest4Landfall Realty was thrilled to participate in the Country Club of Landfall’s Member/Guest Golf Tournament by hosting the Seaside Tradition Home Tour for the partcipants’ wives.  Five beautiful Landfall homes listed by Landfall Realty ranging in price from $525,000 to $2,400,000 were on display Thursday morning.  Landfall Realty Brokers were on hand to answer any specific property questions, and refreshments were served to the ladies who attended. home tour 09 mem-guest3

For more information on Landfall homes currently available or to set up a tour of your own, please visit our website at www.landfallrealty.com.