In a real estate market where sales have dipped 20% since last year, Keller Williams Realty in Wilmington continues to advance in market share, agent count and closed dollar amount. In June, our office reported having 81 agents, a 14% increase from the year before.

When our market center opened in 2004, we were known as Keller Who? People are still shocked to learn we have over 80 agents, but I think they’ve become more familiar with our brand. In my opinion, it’s really just a matter of time before we’re a major player in Wilmington. In many large markets, such as California, Texas and Boston (to name a few), Keller Williams has already advanced to the head of the pack.

Nationally, Keller Williams Realty is the fourth-largest real estate franchise company with more than 650 offices and nearly 75,000 agents. In 2006, The Wall Street Journal added Keller Williams Realty to its elite “Franchise High Performers” list, and Entrepreneur Magazine ranked the franchise in several categories, including No. 66 in the Franchise 500® and No. 52 fastest-growing franchise.

For those who don’t know, Keller Williams Realty is a “learning based company” that treats agents as partners and offers educational programs focused on personal productivity, marketing skills, and career development. Other features that make this company unique are the capped commission structure and profit sharing. By simply switching to Keller Williams and doing nothing else, most agents would realize a 15-30 % increase in gross commission income. And this isn’t even taking into account the resources and training offered.

If you’d like more information about those numbers or anything else, please give us a ring at 910-442-2030.

The current ocean water temperature in Wilmington is 75 °F, and it feels great! I should know- I took a dip yesterday after jogging the loop at Wrightsville. The ocean water was warm and relaxing. This is what living on the coast is all about! After all, the beach and our port are the main reasons why Wilmington is here and why people keep coming. What would we be without our waterways?

No seriously. What would we be without our waterways??

Many residents don’t realize that our beaches, inlets and harbors are in a state of crisis. As the ocean moves sand down the coast, it wiggles into inlets and clogs the waterways. Previously, the Corp of Engineers has kept an eye on this. But recently, the budget and maintenance for it were cut. And not just for Wilmington… funding was abandoned all over the US with no advanced notice.

So what do we do from here?

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At a government briefing today, I caught a glimpse of proposed plans (featured below) for Wilmington’s riverfront district. The highlight of the plans is a performing arts center - a venue many Wilmingtonians have long been longing for. With a 1500-2000 person capacity, the proposed center would be capable of hosting a plethora of cultural attractions including symphony, opera, concerts, dance performances and more.

Of course, at this point nothing is set in stone.

ARCH is currently working with architects to weigh the pluses and minuses and make sure downtown is the most suitable area for the project.

If approved, the plans would also include an extended riverwalk, marina, residential condos, hotels, and retail. The hope is that the center and surrounding improvements would help Wilmington become a hot spot for the “creative class” and draw in more prominent industry attracted to culture.

It would be an understatement to say this all makes me very thrilled about the future of our Port City. Please check back often for updates regarding this exciting project!

Above: proposed plan for Wilmington’s northern riverfront district. Click for larger view. Please note we are waiting to receive a more recent rendering. In the above image, the hotel between the marina and condos is the site considered for the performing arts center.

Two years ago, the City of Wilmington spent $3.7M on riverfront land and signed an agreement with developer Armada Hoffler to build a $52M convention center and hotel on the lot. Since then, the project has been held up by numerous redesigns, a lawsuit and, most recently, termination of its agreement with Armada Hoffler (after the developer said it was no longer “financially feasible” to build a full-service hotel on the site).

This has left city officials questioning whether the project should continue. Those in favor of the convention center believe it will fuel the downtown boom - making Wilmington a destination for conventioneers and a focal point for the entire region.

Critics argue that the new face of downtown (post PPD, etc) presents us with more choices than before and that Wilmington would benefit more from a public-private partnership such as a multi-use performing arts and civic center.

“We don’t need to close our eyes and pretend there’s not other options on the table,” said Councilman Jason Thompson.

For now, the city is hard at work trying to find a new developer and still plans to break ground late summer.

Let’s hear what Wilmington residents have to say! Are you for or against a new convention center?

NAR reported earlier this month an increase in the purchases of vacation properties. Even as sales of primary residences fell last year, vacation-home sales rose 4.7%, to a record 1.07 million (from 1.02 million in 2005). Furthermore, vacation homes’ share of the market rose to 14% last year from 12% in 2005.

Is this surprising? Not really. It’s simply a a product of demographical trends.

Afterall, 40% of baby boomers have indicated they plan to retire somewhere between Tallahasse FL and Virginia Beach within the next 10-20years.

Couple this with Money Magazine’s praise of Wilmington, and you’ve got increased interest.

We feel it daily. Nine times out of ten, when our phone rings, it’s the same old story (not that we don’t welcome it):

I live in the northeast and am nearing retirement… about 2-4 years out. Wilmington looks charming and coastal and warm (not to mention the golf and low taxes), so I want to buy a home now and using it as a vacation home until I retire.

And since the northeast is struggling to unload like us, most of the people shopping right now are in a position to buy vacation & second homes (which makes it even more challenging for sellers). While Forbes may disagree, now is a great time to buy. There’s a ton of homes available, interest rates are low and buyers have power. We haven’t had this much inventory in years… so eat your heart out!

If you’re considering the purchase of a vacation/retirement home, please give us a call and tell your. Our goal is to help you accomplish your real estate objectives.

Improving home improvement…

If you haven’t already heard, Lowes Home Improvement is making moves to build near you. Specifically, they’re fighting for rezoning that would allow them to build a 138,000 square-foot store in the undeveloped section of land where the 17N bypass and Market Street meet near Porters Neck Road. If their request for rezoning passes (NHC Planning Board will discuss June 7th), they’ll become the first major retailer to locate in the NE corner of New Hanover County.

Worth noting is the Lowes store is just part of a larger commercial project proposed that will most likely include a Target and other retailers. While this brings convenience and employment opportunities, not everyone is happy.

Environmentalists are concerned about the stormwater and wetland impacts. And some residents fear this will bring increased traffic and noise. According to a traffic study conducted by the developer, Lowes would generate 4,000 trips a day.

How do you feel about having Lowes as a neighbor? If you don’t live in Porters Neck, can you recall a time something like this did happen near you? How did it ultimately turn out?

The Governors of the United States Postal Service have approved a 2-cent stamp increase to go into effect May 14, 2007, raising the cost of mailing a first-class letter from 39 to 41 cents. Please click here for useful information pertaining to the new USPS mailing policies.

Also provided through the above link are tips for successfully packaging, labeling and shipping your items to ensure they arrive at their destination on time and in good condition. The USPS has adapted their services to stay current with times, and with the massive role that sending and receiving post plays in our personal and professional lives, it is vital that you too adapt and stay current.