Coastal Carolina News, Views, Real Estate, & Fishing. August 2013

Wish you were here! Busy– very! Maybe it will slow after Labor Day when there are fewer tourists? The wet weather seems to have returned. It keeps tourists off the beaches and in the stores. Last summer my grandsons spent nearly the entire school vacation here. This summer football entered the minds of the 11 year old boys and they have spent more time in Ohio. It is certainly not the same around here. Grandma needed her ‘grandson fix’ and has flown to Ohio to spend a week with them before school starts. Had a buyer walk from a sale as the seller would not repair a major safety issue. The frustration lasted only 3 days until another home was found they like better. My brother in law has a girl friend now– one that owns a vacation condo here in Ocean Isle Beach. He has been flying in often now. I see him now more than when we lived 10 minutes apart. Every year at this time the NC Real Estate Commission comes out with the Broker In Charge continuing education and a mandatory update. Looks like September 12th will be a long day! Lost a lot of crab pots this year. Caught a lot of crabs though. A couple pots were borrowed by unknown people. All the crabs were given away. I have a long list of people that want fresh, live NC crabs. Most of the commercially caught crabs in NC are sold in MD and VA.

My dad – Recently I received an email with a website about the unit dad served with in WWII. He fought at both Normandy and the Battle of the Bulge. Dad did not talk about the war and we learned more after his death in 1976. While bouncing around the website late one night this was found:    http://www.miaproject.net/battlefield-relics-memorabilia/battlefield-relics/6010-2/

 Flood Insurance I have been trying to keep that subject on your mind if planning on purchasing a home where flood insurance is required or simply desired. You can find some of those articles by searching the past newsletters here: http://rakoci.com/real-estate-blog/ . Here is a little more information to consider. In the past you could purchase flood insurance at any time unless there was a named storm coming and then you had a 30 day waiting period. Beginning in October a 30 day waiting period is in effect at all times. So if purchasing you need to buy a policy 30 days ahead of time. Make sure your Realtor builds in enough time into your offer. If for some reason the sale did not go through you will get a refund I’m told. Rates are changing and going up a minimum of 15%. Some policies a lot more. Please– get a quote before too far along in the purchase process. Some in congress have realized some of the increases, both percentage wise and dollar wise, are going to cause some to lose their home. Changes are possible before full implementation- but talk to your insurance agent before making a major decision. I am NOT an insurance expert. Do not buy or sell based on anything read in my newsletters, call an expert!

Foreclosures – Remember to keep an open mind as just because it is a foreclosure does not mean a better buy is not on the market. The links will take you to new foreclosure listings of the past 3 months. These listings are of the areas most asked about. There are older listings and I’ll be happy to provide complete listings of foreclosures with your requirements upon request. The 1st link is of NC detached homes, condos, and townhouses. Only seven new listings were found. Check them out here: http://bcarnc.rapmls.com/scripts/mgrqispi.dll?APPNAME=Brunswick&PRGNAME=MLSLogin&ARGUMENT=JZi5FLz3tQIC%2FtL6pU13BS2iL27kY%2Ba5%2FXqu1BLJT5w%3D&KeyRid=1&Include_Search_Criteria=on&CurrentSID=147351589 . Next will be detached homes in Horry County SC. They can be viewed here: http://ccar.paragonrels.com/publink/default.aspx?GUID=ce94ce61-1769-4c54-8732-99da7c6c04f9&Report=Yes . Only 26 found this month. Those following the newsletter a while will remember twice that and more! Only 2 more listings found under condo/townhouse than detached. Check them out here: http://ccar.paragonrels.com/publink/default.aspx?GUID=d50eebca-02b7-493b-8402-83f10b998975&Report=Yes .

Blue Crabs – Many know that I keep 4 – 5 commercial crab pots in the ICW and give my catch away. Blue crabs are caught in many ways and some do not require a license- check the state regs where you plan to crab. Cooking blue crabs is easy. They should be steamed, not boiled. Crabs must be alive when put into the pot. It takes only 20 – 30 minutes for them to turn the desired orange color. The easiest way to clean, or pick, a crab is shown here: http://www.youtube.com/watch?v=2TmTbNmdbCM . Enjoy.

Trends As the above shows inventory is dropping. Not only with foreclosures / bank owned but in all categories.  Ok, that is a bad thing. The good part is prices are mostly stabile. There has been some increase and also some decrease. The worst news is interest rates have bumped up to over 4%. They began to rise after the FED stated they will begin to cut back on purchasing bonds. As bond prices drop interest rates increase to find buyers. When looking for a loan or loan information on NC or SC real estate give Kevin Johnson at Brand Bank Mortgage a call. His cell number is 843 421 8437.

Under Contract (or soon to be)   If you are currently or are soon going to be in a contract to buy a house, please put away the credit cards. Do NOT make any purchases on any kind of credit and even guard against making unnecessary transactions using your checking and/or savings accounts. Then, in all probability, the mortgage pre-approval you will have secured at the beginning, before going house hunting, will carry you through to the closing table. Simply applying for a credit card, or buying that appliance you are going to need after you move in can have your lender decide not to send the loan package to your attorney. 

Great condo available    If you are in the market for a condo you must check this one: http://ccar.paragonrels.com/publink/default.aspx?GUID=6d940256-3692-49dc-99a7-9c6474f20518&Report=Yes

Fishing  Well,,,, I did get out three times in the past month. Twice on the ocean and once on the ICW and Shallotte River. The ICW/river trip saw a lot of fish come in the boat— and go right back out. The flounder and black drum were short of the legal limit. So were the sharks. The other fish were mostly a non-event also. Both times the waves permitted travel on the Atlantic I trolled for Spanish Mackerel. Not great catches but we will have some great meals. Mostly, had a fantastic time with some of the guys. The trips on the Atlantic were impacted by all the rain at the time. Lots of stained water forced us out farther to find green water. The water in the ICW is brown, stained not dirty most of the time. It comes from the inland and coastal rivers and creeks. As it passes through all the marshes it becomes stained. The same situation as putting a tea bag in a cup of water. If not so busy there would be a lot more reports to share. Check out Fishermans Post to see others are able to get out for some fantastic catches. Even if nothing is caught it is still a fun boat ride with good friends. 
 

In what will surely go down in history as one the greatest architectural blunders, the town of Benidorm in Alicante, Spain, had almost completed its 47-story skyscraper when it realized it excluded plans for elevator shafts. Despite its name, the InTempo skyscraper was, seemingly rushed through the blueprint process, and its attempted message of prosperity through the country’s economic tumult has become. It took near completion of 23 floors before they realized the problem. Now they will have to build exterior elevator shafts.

As always — do not hesitate to contact me if I can be of assistance with your SC and NC real estate needs. Contact me at john@rakoci.com or use my cell 843 655 7777.

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