St. James dedicates new Veterans Memorial

 

Retired armed service men and women and local dignitaries gathered recently at the St. James Town Hall to unveil and dedicate the Veterans Memorial.

The memorial, which sits in front of the Town Hall facing Highway 211, honors those who served in all branches of the military. It was funded through the sale of memorial bricks engraved with the name, dates and branch of service, or any other information residents wanted to include to honor family members who served. The bricks were available to all in the community, regardless of their hometown.

Members of the South Brunswick High School JROTC helped direct guests to their seats at the ceremony, held on Armed Forces Day, mingling with veterans of Iraq and Afghanistan as well as World War II. As they waited for the ceremony to began, family members walked along the sidewalk searching for bricks honoring loved ones and stopping to take photographs.

“When we returned from Vietnam, we didn’t get this kind of support,” remarked mayor Bob Morrow, as he welcomed the veterans and their family members to the event.

“It was beautifully done,” commented Sophie Holbrook as her husband, William, walked slowly down the sidewalk in front of the memorial, reading the engraved bricks. The Holbrooks, who recently moved to St. James, had purchased a brick for William, a World War II veteran, his brother, also a World War II veteran, and their father, a World War I veteran.

“It was very impressive; I liked it very much,” added William. “It’s nice to be remembered.”

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Another record low for mortgage rates

NEW YORK (CNNMoney) -- Mortgage interest rates hit new lows this week as both the 30-year and the 15-year fixed-rates fell, according to a weekly survey by Freddie Mac. It was the second consecutive week that rates broke records.

The 30-year, the most popular mortgage product, fell by 0.01 percentage points to 3.83%. Last year at this time, it stood at 4.63%. The new lows can save borrowers $46 a month for every $100,000 borrowed. Over a 30-year term that comes to more than $16,000.

The 15-year fixed dropped by 0.02 percentage points to 3.03%, lowering borrowing costs to $692 a month for every $100,000 borrowed, a $38 savings compared with a year earlier. Borrowers would pay out only $24,565 in interest over the life of the loan.

Rates are tracking the downward trend in Treasury yields, according to Frank Nothaft, Freddie's chief economist, which have fallen in response to election results in Europe and a weaker than expected U.S. employment report.

"The economy added just 115,000 jobs, below the market consensus forecast and less than in March," he said. "And although the unemployment rate declined, it reflected fewer people actively seeking jobs."

Mortgage payments at lowest leevel in decades

Mortgage rates will likely not fall much further, according to Bob Walters, the chief economist for Quicken Loans. The low rates have sparked refinancings, which have accounted for upwards of 70% of all mortgage applications lately.

That flood of refinancings strain the capacities of mortgage lenders, especially since many have exited the industry over the past few years. When the remaining banks have trouble handling all the applications, they raise rates to discourage any more.

6 ways to get a great mortgage deal

That means that when Treasury yields rise again, mortgage rates will follow at a slower rate, said Walters. Fewer homeowners will seek to refinance their loans and the banks will be better able to handle the lower number of applications.

"The spread between yields and rates will reduce when capacity comes into line," he said. 

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St. James Sales Stats

Active Inventory

Single Family Homes:
127 Active Average
List Price: $414,638
Median List Price: $375,000
Highest List Price: $1,125,000
Average Days On Market: 236

Lots:
291 Active Average
List Price: $118,014
Median List Price: $99,500
Highest List Price: $595,000
Average Days On Market: 385

2012 Solds

Single Family Homes: 25
Sold Average Sale Price: $327,851
Median Sale Price: $330,000
Highest Sale Price: $655,000
Average Days On Market: 368

Lots: 21 Sold
Average Sale Price: $92,500
Median Sale Price: $80,000
Highest Sale Price: $240,000
Average Days On Market: 536

Ken Keegan Real Estate Broker
(910) 523-0903 mobile
Email Me
www.KenKeegan.com
Click here for more information on Brunswick, County Real Estate
St. James Plantation