Coldwell Banker Sea Coast Advantage Makes Rankings Jump Among Nation’s Top Real Estate Companies

Rankings in the recently-released 2012 REAL Trends 500 report make it very evident that the merger of Coldwell Banker Sea Coast Realty and Coldwell Banker Advantage earlier this year has created a regional real estate powerhouse and reflect a continued upturn in to real estate market.
The REAL Trends 500 report is released annually by REAL Trends, Inc., the residential real estate industry’s leading source of analysis and information. The REAL Trends 500 report ranks the country’s top residential real estate companies by closed transactions and by sales volume.
In 2011, Coldwell Banker Sea Coast Advantage closed 6,757 sales, a 4.8% increase over Coldwell Banker Sea Coast Realty and Coldwell Banker Advantage’s sales figures from 2010. This year, the company ranked No. 55 in the list of “The 500 Largest Brokers in the U.S.” ranked by closed transactions. Last year, Sea Coast Realty ranked No. 120 and Advantage ranked No. 129.
Coldwell Banker Sea Coast Advantage closed $1,267,352,456 in sales volume in 2011, propelling the company to No. 83 in the list of “The 500 Largest Brokers in the U.S.” ranked by sales volume. Last year, Sea Coast Realty ranked No. 140 and Advantage ranked No. 145.
Coldwell Banker Sea Coast Advantage ranked #5 out of more than 1,000 Coldwell Banker affiliated companies in the United States. Last year, Sea Coast Realty ranked No. 16 and Advantage ranked No. 17.
Coldwell Banker was ranked as the country’s #1 real estate franchise this year, closing more than $117 billion in sales and more than twice as many sales transactions as the next leading real estate franchise.
Locally, Coldwell Banker Sea Coast Advantage performed similarly well. In 2011, it closed more than 2.5 times as many sales as the next leading company. Sea Coast Realty has claimed the title as southeastern North Carolina’s top selling real estate company for 12 years in a row.
"We are extremely proud of our entire organization for the continued success,” said Sea Coast Advantage president Tim Milam. “Our firm continues to outperform the current market conditions and competitors, plus 2011 was a phenomenal year. We are fortunate to have professional sales associates, staff, and managers who maintain a high level of service to our customers and clients."

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30-year mortgage rate hits record low

The interest rate on a 30-year, fixed-rate mortgage reached a new low this week, falling to an average of 3.66%, according to a weekly survey of rates from Freddie Mac.

That was 0.01 percentage point below the previous record set two weeks ago. The rate for a 15-year, fixed dropped to 2.95%, a tick above the record low. The lows mirror bond yield performance.

"Treasury bond yields eased somewhat this week on some worsening economic indicators, bringing mortgage rates back into record low territory," said Frank Nothaft, chief economist for Freddie Mac (FRE). (Most affordable U.S. cities to buy a home)

He noted declines in industrial production, consumer sentiment andhiring as indicators that the economic recovery had slowed.

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Homebuyers can't complain. The drop over the past year saves them $48 a month in mortgage payments for every $100,000 borrowed, compared with what they would have paid 12 months ago, when rates averaged 4.5%. 

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Fourth of July Festival: Tuesday and Wednesday schedule

The 2012 N.C. Fourth of July Festival continues in Southport this week with most activities occurring at Franklin Square Park or along the waterfront.

Tens of thousands of visitors will attend this year’s festival, which runs through the Fourth of July, and is highlighted by the annual festival parade in Southport at 11 a.m. on Wednesday and the concluding fireworks at 9 p.m.

“Incorporated as the ‘N.C. 4th of July Festival’ in 1972, the festival committee strives to keep the focus of the festival on honoring our nation’s birthday with a little fun thrown in,” said Bob Krasnow, chairman of this year’s 41st annual N.C. Fourth of July Festival.

Following is the schedule of events for Tuesday, July 3:

9 a.m. – Children’s games: Southport Waterfront Park, registration at 8:30 a.m,. with T-shirts while they last (Southport Parks and Recreation event).

9 a.m. to 5 p.m. – N. C. Maritime Museum at Southport: Open for visitors at 204 E. Moore Street

9 a.m. to 5 p.m. – Historic Chapel of the Cross: Self-guided tours at St. Philip’s Church, corner of E. Moore and Dry streets.

10 a.m. to 5 p.m. – Summer Regional Art Show: Franklin Square Gallery, building located at Franklin Square Park (event of Associated Artists of Southport).

10 a.m. to 6 p.m. – Arts and crafts sale: at Franklin Square Park (sponsored by Our State Magazine).

11 a.m. to 10 p.m. – Food concessions: at Waterfront Park area, South Howe Street.

11 a.m. to 3 p.m. – American Red Cross Blood Drive: donors receive a T-shirt at the community blood drive, bloodmobile will be parked at Waterfront Park; event of Cape Fear Chapter of the American Red Cross.

12:30 to 3:30 p.m. – Old Jail Tours: see the historic old jail at Nash and Rhett streets (event of Southport Historical Society).

Waterfront Stage Entertainment – bands and performers at Southport Waterfront Park

1 to 1:40 p.m. – Unity Quartet - gospel

2 to 3 p.m. – Coastal Collective - jazz

7 to 9 p.m. – Craig Woolard Band

7 to 10 p.m. – Country Street Dance – The Craig Woolard Band performs at Southport Waterfront Park main stage

3 p.m. – Old Smithville Burying Ground Tour: historic look at the cemetery at Nash and Rhett streets (event of Southport Historical Society).

3 to 3:45 p.m. – Brunswick Concert Band Concert: free concert on the Fort Johnston Garrison lawn.

3:30 to 5 p.m. – Voter registration drive: register to vote at the Southport Community Building; event of Brunswick County Board of Elections.

4 p.m. – Naturalization Ceremony: open to the public as people from various countries take the oath to become United States citizens on the Garrison Lawn, Fort Johnston.

6 p.m. – Flag Retirement Ceremony: Old flags are properly disposed of at the BB&T flagpole at the corner of Howe and Moore streets (Daughters of American Revolution Brunswick Town Chapter and Cape Fear Council of Boy Scouts sponsors).

8 p.m. – Sea Notes Choral Society Concert – Patriotic musical celebration held at Southport Baptist Church (event of Sea Notes Choral Society).

Following is the schedule of events for Wednesday, July 4:

7 to 10:30 a.m. – Pancake Breakfast: annual event at Trinity United Methodist Church, Nash Street, to benefit church missions and evangelism (Trinity United Methodist Church event).

9 a.m. to 5 p.m. – Historic Chapel of the Cross: Self-guided tours at St. Philip’s Church, corner of E. Moore and Dry streets.

10 a.m. to 5 p.m. – Summer Regional Art Show: Franklin Square Gallery, building located at Franklin Square Park (event of Associated Artists of Southport).

10 a.m. to 6 p.m. – Arts and crafts sale: at Franklin Square Park (sponsored by Our State Magazine).

10 a.m. to 10 p.m. – Food concessions: at Waterfront Park area, South Howe Street.

10:30 a.m.  – Flag Raising Ceremony: Official flag raising event before the parade at BB&T flag pole, corner of Howe and Moore streets (Organized by Brunswick Town State Historic Site, Southport-Oak Island Chamber of Commerce, sponsor).

11 a.m. – N. C. Fourth of July Festival Parade: Annual parade marches along Moore and Howe streets, televised later at 8 p.m. on WECT-TV 6 (Dosher Memorial Hospital, sponsor).

11 a.m. to 4 p.m. – Shine and Show Classic Cars: Car show lines up along Bay Street at Southport Waterfront Park (Cape Fear Cruisers sponsor).

12:30 to 3:30 p.m. – Old Jail Tours: see the historic old jail at Nash and Rhett streets (event of Southport Historical Society).

12:30 to 4 p.m. – 20th N. C. Co. K War Between the States Re-enactment: held at Waterfront Park area.

12 to 6 p.m. – Military Equipment Static Display: Military display along Waterfront Park.

1 to 5 p.m. – N. C. Maritime Museum at Southport: museum open to the public at 204 E. Moore Street.

Waterfront Stage Entertainment

1 to 1:40 p.m. – Ava Johnson - old and new

2 to 2:40 p.m. – Velvet Jane - rock

3 to 3:40 p.m. – Rod Rodskom - old standards

4 to 4:40 p.m. – Richard D’Anjolell - rock

6 to 9 p.m. – Waterfront Stage Entertainment – Peace and Love performs at the Waterfront.

TBA – CFYC/Pilot Commodore’s Regatta – sailing competition along the Cape Fear River, watch from the Southport Waterfront (event of Cape Fear Yacht Club with assistance from The State Port Pilot).

3 p.m. – Old Smithville Burying Ground Tour: historic look at the cemetery at Nash and Rhett streets (event of Southport Historical Society).

3 p.m. – Sea Notes Choral Society Concert – Patriotic musical celebration held at Southport Baptist Church (event of Sea Notes Choral Society).

5 p.m. – Associated Artists of Southport raffle – winners announced at Franklin Square Gallery (Associated Artists of Southport event).

8 p.m. – Parade televised on WECT-TV6 – delayed broadcast of the N. C. Fourth of July Festival parade, sponsored by Dosher Memorial Hospital.

9 p.m. – Southport Lions Club Boat Raffle – Southport Lions Club draws the winning ticket for a 19-foot Bayliner at Waterfront Park stage.

9 p.m. – Fireworks – Patriotic fireworks display along the Southport waterfront (Bald Head Island Limited, sponsor)

The Fourth of July Festival events schedule includes times, dates and information as available at press time. Some times are subject to change. For the most current schedule, check this week’s issue of The State Port Pilot or visit www.nc4thofjuly.com.

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Mortgage rates keep plunging: 15-year dips below 3%

Mortgage rates continued to plunge to new lows this week, with interest rates on the 15-year fixed rate mortgage dipping below 3% for the first time on record.

The 30-year fixed mortgage, the most popular mortgage product, fell by 0.03 percentage points to 3.75%, setting yet another record for the fifth week in a row, according to a weekly survey by Freddie Mac. Last year, 30-year loans averaged 4.55%. The new low can save borrowers about $47 a month for every $100,000 borrowed. Over a 30-year term, that comes to $16,756.

Rates on the 15-year fixed mortgage, which is popular among those looking to refinance, fell to 2.97% -- the first time it has dropped below 3% since Freddie Mac began tracking the weekly data. Down from 3.74% a year ago, the new 15-year rate would lower borrowing costs to $689 a month for every $100,000 borrowed, a $37 savings compared to last year.

The continued slide in mortgage rates is, in part, due to ongoingeconomic turmoil in Europe, according to Freddie Mac's chief economist, Frank Nothaft.

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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.

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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
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