The Week in Review
…….you Wilmington Connection
August 2, 2008
Whew! it’s hot here in Wilmington…..cooling off at the beach or on the boat is the answer. The Real estate market has seen quite a bit of activity considering the media claims we are in such a “Glum state” although as I have said before the real estate market varies nationaly as real estate is local. Drop me a line if you want to talk about what has been going on here. Currently there are 2885 homes on the market here in Wilmington and the Greater Wilmington area, in the last six months 1523 have sold and homes are averaging 95% list to sell price. How long it takes to sell your home depends primarily on price, marketing ability of your Realtor and of couse how many homes are on the market in that price range. Let me know if you would like to find out how many homes are on the market in your price range.
North Carolina Ranked Second
North Carolina, Texas and Georgia have the best business climates among the 50 states, according to a recent survey of executives by Development Counsellors International. North Carolina ranked second among the 281 respondents, with 30 percent saying the state has the best business climate.
http://www.bizjournals.com/charlotte/stories/2008/07/28/daily8.html
President George W. Bush signed into law a housing stimulus bill This is expected to bring greater stability to housing markets nationwide. The bill, strongly supported by the NATIONAL ASSOCIATION OF REALTORS®, will help some 400,000 home owners refinance into affordable, government backed loans and offer a temporary first-time home buyer tax credit, which is expected to serve as an attractive incentive to buyers and help reduce high inventories of unsold homes.
http://www.realtor.org/RMODaily.nsf/pages/News2008073001?OpenDocument
Chandlers Wharf…Deomolition?
The owner of Chandler’s Wharf, a popular tourist destination along the Riverwalk, is asking the city’s Historic Preservation Commission for permission to demolish the main building at the corner of Ann and Water streets. It does not include the shops and restaurants south of Ann Street.
John Lennon, president of Prudential CRES Commercial Real Estate, made the application on behalf of the Bullock family.
“The family has owned the property for a very long time and obviously done a lot to it since it is one of the primary assets that they have,” he said. “That being said, the land value is greater than the improvements that are on it, so they are taking the necessary steps to protect the value they’ve accumulated.”
Owners of two other structures in the city’s Historic District also have applied for demolition permits. Those buildings are the old Taste of Country house at 226 S. Front St., part of which old New Hanover County insurance policies show was built before the Civil War, and the World War II-era McEacherns Sons produce warehouse at 121 S. Front St.
The commission will consider the requests at its Aug. 14 meeting, where it can order a delay of as long as a year.
But unlike the other two structures, Chandler’s Wharf is a focal point of the city’s thriving riverfront and is popular with tourists.
………..until next week in The Week in Review
Tina
