There is a great article in the Wilmington Star News today about how the housing market in and around Wilmington is looking up. The article was written by Wayne Faulkner, and basically discusses how the real estate market locally is starting to show signs of life.

In fact, here at Coldwell Banker Sea Coast Realty, we saw a 35% increase in contracts from February to March. Several factors go into the the uptick in contracts from the $8,000 tax credit, historically low interest rates, to simply buyers realizing they may never see prices this good again in their lifetime.

Even the mortgage companies are seeing that business is busy not just do to refis but purchase loans as well.  Here is what Chris Hutchens from Alpha Mortgage, had to say, “Much of the increase is purchase-related and not just refis.”

All of these factors are followed by an increase in Consumer Confidence.  It was a great article and hope you take a few moments to give it a read.  Trust us when we say the media hates to report on postivie news when it comes to the real estate industry, so when they do we know its real good news.

Here is a link to artice at the Star News : Article, Wayne Faulkner

As always if you are need of a real estate professional or just need some to answer a question on real estate market please visit us at www.SeaCoastRealty.com.

The massive economic rescue bill enacted into law last month includes a provision to help military families forced by deployment or other eligible circumstances to sell their houses at a loss in today’s down market. Under the provision, the federal government will cover 95 percent of a loss. The law applies to service members with mortgages entered into before July 1, 2006. An online resource from the U.S. Department of Defense can help you learn if your client is eligible for the assistance.

On Saturday, April 18th, Coldwell Banker Sea Coast agents from Jacksonville to Southport will come together to raise funds and awareness by participating in the 2009 Walk to Defeat ALS. The group will walk to honor and remember Thomas Alexander, who served as a Managing Broker with the firm and was diagnosed with ALS in 2005. Often referred to as Lou Gehrig’s disease, amyotrophic lateral sclerosis (ALS) is a progressive, fatal neuromuscular disease that slowly robs the body of its ability to walk, speak, swallow and breathe.

This year the event will be held on the University of North Carolina – Wilmington campus and in addition to the 5K walk will feature entertainment, games and lunch. Registration starts at 9:00 with the walk beginning at 10:00. To learn more visit catfishchapter.org.