Beach News, & Views ~ Real Estate & fishing too.

 

Boys with part of their catch

Wish You Were Here!  Yes, the newsletter was not sent over the summer. Many noticed and called or sent an email wondering….. their questions were answered. It was a busy summer and figure yours was too. We had visitors ~~ not unusual when you live at the beach. Always great to have friends and family stay with us a while. It seemed like a wet summer, at least it felt like it rained more days than normal. Still, no major storms again this year which is always a blessing. As always, if I can help in any way just contact me: John Rakoci Broker Associate, Licensed in both North Carolina and South Carolina. Email john@rakoci.com or call 843 655 7777.  

 Foreclosures ~  although fewer of them and better deals can often be found ~~ they still draw a lot of interest so here are the new foreclosure listings over the past 3 months. Remember there are older listings and these are only in the areas that have had the most interest.  Starting with North Carolina there are 23 new listings of all categories. Prices range from $34,900 to $859,900. Check them out here: http://bcarnc.rapmls.com/scripts/mgrqispi.dll?APPNAME=Brunswick&PRGNAME=MLSLogin&ARGUMENT=RlG5733xSyoGNjJHTxC4hz16T2AQjqQLCo8cugpYoCc%3D&KeyRid=1&Include_Search_Criteria=&CurrentSID=133161677&MLS_Origin=BRWC . Moving to South Carolina the 1st search will be for detached homes and then condos/townhouses. There were 30 detached homes listed in the time frame priced from $48,000 to $725,000. They can be found here: http://ccar.paragonrels.com/publink/default.aspx?GUID=e26ca12c-6127-47c4-9a86-0758bede6c50&Report=Yes . Moving to condos and townhouses where we find 30 new listings also. These range in price from $23,600 to $385,000. it was not long ago when we could find well over 100 new listings in SC every MONTH.

 

Limited Liability Companies are exceedingly popular for  small business owners looking for extra liability protection, but did you know that LLC’s can benefit investors People fall down stairs, off balconies, into pools, slip on wet floors, and most likely have a higher risk of injury while on vacation (due to intoxication or otherwise). LLC’s, if operated and maintained properly, can potentially provide real estate investors with the added protection of limited liability should any complications or legal issues arise with tenants in investment properties. In the unfortunate event that a tenant is injured, investors, by deeding their investment into an LLC instead of themselves personally, provide separation between their investment property and their personal assets. When I lived in SC my attorney told me the forms are available online and an individual did not need an attorney to file LLC paperwork. I can suggest attorneys in both Carolinas to anyone interested.

Interest Rates  ~ Rates have moved some, in both directions! The trend is HIGHER but currently are low, not as low as they have been but still seen as a bargain.  A conventional 30 year mortgage hass been quoted at 4.125%. FHA with 3.5% down,  USDA and VA with 0 down were all at 3.75% at this writing. Remember, it is best to be pre-approved for a loan prior to beginning your search. Submitting it with your offer will let the seller know you are serious and able to buy. 

How are we doing? August single family home sales were down 10.1% from August 2013. Total sales are still up slightly for the year. Inventory is up 8.3% over last year on par with 2010 levels. Condo sales are down 6.7% compared to last August and are down 3.6% for the year. Condo inventory is up 2.2%. Residential lots flooded the market years ago and sales have been slow. August sales were down 37.6% from last year which was also a slow year! It looks  to remain a buyer’s market for sometime forward.  On the plus side for sellers is there are fewer distressed sales and prices are up slightly.

As many of you recall often an article of Carolina history is added here. This time something just a little different. When I left the military in 1968 already there were many POWs and MIAs. I followed the situation as much as possible and still do today. One of the best providers of information. The world wide investigating was/is above reproach unlike some former and current politicians. That organization is the National Alliance of Families. You can find a ton of information at their website (www.nationalalliance.org). Lynn O’Shea has been with them for decades and has written a book. The title is ‘Abandoned In Place’ and is available from Amazon or Barnes & Noble. Anyone with an interest in government, war, history, Viet Nam,  or the military will find this book extremely interesting. Did the US leave men in South East Asia? Read the book, then decide.

October ~ is a super fantastic month to visit the area. Like September the weather is still great and the ocean water warm. It is also festival time in addition to all the great things to do here. It is one of the best months to fish too.

Fishing ~  the mullet and menhaden are here! With all that bait, daylight dropping along with water temperatures a message is sent to the fish.  The message is “time to get fat as winter is coming”. October is a fantastic month to fish inshore, near shore, and offshore. My boat would need stretched a few feet to go far offshore but there is enough to keep me busy near shore (under 20 miles). All required is the wind to be calm enough to keep the waves low enough ~~ or will be forced to fish the ICW, rivers, and inlets. The best company we had this year was our grandsons. They have been on a couple of my boats in the past but this year they were able to get on the ocean and catch fish. Thankfully my friends Joe and Coach were each able to help us a day. The picture is part of their catch one day and was published in the local newspaper. We kept the Spanish Mackerel for dinner and even froze some to take back to Ohio.

 

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