Tuesday, May 29, 2012

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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Friday, May 18, 2012

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 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.
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. To top of page

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Tuesday, May 15, 2012

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
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Tuesday, April 17, 2012

Southport spring cleanup starts this week

The City of Southport’s spring cleanup gets underway this week. The annual cleanup starts Tuesday and runs through Saturday at noon.

Residents are encouraged to dispose of unwanted appliances, electronics, furniture, scrap metal, construction debris and other items except for yard debris at the collection site at West 8th Street and Caswell Avenue, beside the Brunswick Community College satellite campus. The site will be open from 8 a.m. to 6 p.m. Tuesday through Friday and 8 a.m. to noon on Saturday.

The city will not pick up any debris. All items must be transported to the site. The cleanup coincides with Free Dump Week at the Brunswick County landfill, which also runs through Saturday.

More information about spring cleanup week is available by calling code enforcement officer Charles Drew at 279-1863 or 457-7926.

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Lighthouse Run April 21

The 14th annual Oak Island Lighthouse Run is scheduled for April 21. The event includes 5 and 10K runs, as well as walks of equal length. There will also be a half marathon. All races start at 8 a.m. at the Baptist Assembly on Caswell Beach.

The half marathon costs $40 for advance registration, and $45 the day of the event. 5 and 10K races cost $25, while active military and law enforcement get a $10 discount on that fee. Awards will be doled out to a number of different categories and age brackets, and t-shirts and finisher medals will be awarded to the first 200 finishers.

For more information call the Southport-Oak Island Area Chamber of Commerce at 910-457-6964, or visit www.lighthouse10k.com to register online or see a virtual tour of the course.



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Thursday, April 5, 2012

St. James developers outline 'small' plans for future neighborhoods

Parks in St. James could be smaller, but greater in number, in areas of pending development, the town planning board was told Thursday.

Bill deBruin and Bob Duffy, with the St. James Plantation developer’s office, gave the board an update on plans for development, especially in the new Seaside area. That area is being developed in phases, allowing the developer to see what sells and to adjust to market changes as necessary.

But deBruin and Duffy told the board Thursday that the current trend was toward smaller homes, as small as 1,300 square feet and some “single-family, semi-attached homes,” which they described as two separate, small homes, each on its own parcel but connected at a firewall.

To go with smaller homes, the two described small pockets of green space or water, with gazebos and bike racks, a short distance from the homes.

“There has been a trend toward smaller homes,” deBruin elaborated. “Enough magazines said so for a long enough time. Enough people are finally asking for it.”

In many cases, some of the yard work or maintenance of homes is included, they said, adding that such set-ups appeal both to newcomers to St. James and to long-time residents seeking smaller homes that require less upkeep.

“I may come in as a part-time resident in a small home, and then move to a bigger one,” Duffy said. “As life changes, I can stay in the same community and move again, neighborhood to neighborhood, and still enjoy St. James.”

“It’s the same person, the same typical client,” deBruin added. “I think what we’ve seen is from six or eight years ago, everyone’s net worth has changed, bank accounts have changed, or lifestyles have changed. People who built homes four, five, six years ago can’t or don’t want to deal with them anymore, or they’re ready for a change.”

And as the home-size preference shifts, they foresee smaller but more frequent parks, giving owners more outdoor space within an easy walk.

DeBruin called such areas “pocket parks,” though he said the designation was not official, and described them as small neighborhood hubs that did not require driving, and wouldn’t necessarily draw people from the entire development.

“We want to pick an area within a five-minute walk of someone’s house,” he said, describing small areas where residents could fish or garden. “‘Hey, man, let’s grab a fishing pole and walk down the block.’ They’re not going to attract everybody, but provide little pieces. It’s a local amenity that doesn’t require driving; we want to coax people out of their homes, leave the car in the garage and walk.”

Duffy and DeBruin emphasized that about 40-percent of the land in St. James is in some form of conservation easement, and said they did not intend to change that. The smaller parks would help break up higher-density clusters of homes, so the overall density would be similar to other areas of St. James Plantation.

Board alternate Bob Accordino compared the concept to similar parks in Manhattan—small green areas meant to be an amenity in the immediate neighborhood but not a driving destination.

“I think it’s important to emphasize, this is something we’ll have to learn to look at from the planning board’s perspective,” said board chairman Ron Johnson. “As a planning board, we will be asked to look at them.”

Councilor Bruce Maxwell, who serves as liaison to the planning board, urged the board to think about how such small neighborhood parks might be different from larger parks, such as Waterway Park, and how the parks might have different requirements for matters like parking.

“If the market changes dramatically, what’s planned for here will change,” Duffy said of Seaside and the area near a new access at Midway. “The nice thing is it’s a blank canvas. The challenge is it’s a blank canvas.”

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