Thursday, January 24, 2013

Home building surges 12%

From CNN: The pace of home building surged in December, as the market bounced back from the impact of Superstorm Sandy. Builders started construction at an annual pace of 954,000 home last month, the Census Bureau reported, up more than 12% from November's pace. That's a nearly 37% leap from December of last year. The reading smashed the 889,000 that economists surveyed by were expecting. The Northeast saw a 19% increase in housing starts from November to December, as construction picked back up again after the storm put a halt to new building activity. Single-family housing starts also boosted December's strong reading, rising more than 8% from November. Applications for new building permits, which are seen as an indicator of builders' confidence in the market, were little changed from November's rate. But the annual rate of 903,000 reported in December is up 28.8% from last year's level. Thursday's reading is yet another sign of the housing market picking up steam, as record-low mortgage rates have spurred demand for homes. A recovering job market and a tapering off of foreclosures have also given the market a boost. As distressed homes leave the market, that means that there are more buyers interested in purchasing fewer available homes. Home prices, in turn, have continued to rise, posting the biggest percentage gain in more than two years last month. Ken Keegan Real Estate Broker

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St. James Plantation

Friday, January 18, 2013

WWAY Report on St. James

Report from

A Brunswick County golf community is experiencing a boom in home sales. In fact, the leaders at St. James Plantation say 2012 was their best year yet.
"We welcome a new family every 27 hours to St. James, and that's unbelievable," General Manager Bob Duffy said.
Through the many struggles in the housing market, St.James Plantation has survived and even thrived.
"Last year we welcome over 275 families and closed over $40 million worth of property," Duffy said. "In addition, we constantly have well over 150 homes under construction in the community at any given time."
The 6,000-acre golf community is constantly building new homes to try and keep up with the demand. And it is no average neighborhood.
"We're our own town," Marketing Director Katie Campbell said. "We have a mayor. We have an EMS and fire department. What they give back to the community, I think, sets us apart."
Campbell says she believes the main attraction is it offers something for everyone
"We have 81 holes of golf, a full-service marina, private beach club on Oak Island, tennis and 4,500 owners, so they keep us all very busy," she said.
Campbell says the residents love the sense of community and are there to help one another.


Ken Keegan Real Estate Broker
(910) 523-0903 mobileEmail Click here for more information on Brunswick, County Real Estate St. James Plantation