Brunswick County Archives - Blog | Carolina Plantations Real Estate

January 29, 2023January 29, 2023

2022: Year in Review

Numbers do not always tell the whole story, and in this case, not by a long shot. The fantastic team at Carolina Plantations finished the year with sales of $112,892,847, compared to last year’s sales of $126,481,481. If you had mentioned to any of our Brokers in April that we would generate nearly 90% of 2021’s sales, they would have thought you were freaking crazy!

As for Brunswick County, our new listings and units sold declined while the average and median prices of homes increased from 2021 to 2022. Overall sales were down 6.5%; however, historically, these are still phenomenal numbers if you compare them to just ten years ago.

chart showing year end sales for Brunswick County for Carolina Plantations

Since January 2, 2022, when Doug entered the real estate market here, we have been very fortunate in Brunswick County due to plenty of inventory to select from. And as our Martini Theory states, if you find the right Area and then community, finding you a home/homesite/condo is easy.

inside a car looking out at the blue sky, green land on the side of a road with a rearview mirror showing 2022 and 2023 on the windshield

Our market dynamics this year have ranged from utterly baffling to that enormous frustration. Earlier in the year, we were still experiencing a 2021 rollover of “Covid Flight” from all over the states, which translated to too much demand and insufficient inventory. We had clients offering more than $20,000 because they sold their homes (up north) and had to find a place to purchase. Multiple bids were as common as lack of wintertime sunlight in New Hampshire, and the roads that real estate brokers had to navigate were complex and seldom rewarding. But we did it. The team at Carolina Plantations never gave up as we had to learn multiple new tactics to assist our clients in closing on homes in southeastern NC.

One of the factors we never thought we would face here was the shortage of available homesites, either newly released sites from developers or resales. As we believe in with our hearts, we have always found our clients the right solutions if they committed to our area and community, because if we could not find them a home, we could always find them an affordable solution by building – which over 60% of our clients have done since 2007.

on left is a map of a community with homesite and the right is a new home being built

We work with every developer here very closely, and there are no signs that there will be some newly released dirt in 2023. How much is anyone’s guess, but the demand is very high, and the supply is increasing slowly.

Another two factors here have been the cost of building materials and the time to build a home. For so many years, our building prices were some of the best up and down the east coast, and while we are still a bargain compared to many localities, our clients must pull back on the size and amenities to make their budgets work.

Coastal NC, composed of Wilmington, Leland, Southport, Shallotte, Ocean Isle Beach, Sunset Beach, and Calabash, will continue to be one of the Top 3 locations on the east coast to retire to in 2023. If this is the year you will get serious about leaving the frozen and busy tundra up north, then be sure to schedule a couple of days here with a Broker at Carolina Plantation. We have no idea if our area will meet your requirements, but one thing is for sure, no other real estate firm knows such a vast geographic area as Carolina Plantations does.

October 22, 2022October 22, 2022

Hurricanes

In early 2002, when the Blue Green Corporation hired Doug to sell land at Winding River Plantation in Bolivia, NC, he taught him to refer to hurricanes as “storms” and do all he could to change the subject if it came up. Talking about hurricanes while trying to sell real estate is like asking a Yankees fan to root for the Red Sox.

With Ian wreaking havoc on the Caribbean, Florida, and the Carolinas a few weeks ago, we are going against the grain and speaking openly about one of mother nature’s worst occurrences. Wish us luck!

A Little Peek at Facts

First, though, let’s take a quick peek at some interesting statistics about the population of the US and where it resides:

About 94.7 million people, or about 29.1% of the total US population, lived in coastline counties in 2017, a 15.3% growth since 2000.
81.4% of the population lives in coastal states on 57% of the nation’s land. 37.4% of the population can be found in counties adjacent to the oceans and Great Lakes. These counties occupy less than 18% of the land.
About 60.2 million people lived in the Atlantic and Gulf of Mexico regions – those most vulnerable to hurricanes. These areas added 8.3 million people between 2000 and 2017, a 16% increase.
Florida’s net annual gain of 404,000 (or 1106 a day) new residents in 2021 has increased Florida’s population to over 22,000,000. Only Texas and California are more populated.

We think you get the point. Coastal states and cities are popular destinations for people escaping the brutal winters and high taxes of the Mid-Atlantic, Midwest, and New England. The first goal is to find a warmer climate; for many, it is also to live somewhat close to the ocean. So, if the trends are for more Americans to move closer to the sea and warmer climates, then don’t these people know about hurricanes?

photo of the ocean, sand and a walkway to the beach with blue skies

It would be hard to believe that someone moving to a saltwater coastline is unaware that hurricanes are brewing in the oceans. The draw of living near a warm ocean is powerful, for here is where you’ll find more favorable weather, a plethora of beautiful, planned communities, a laid-back lifestyle, and tons of year-round activities.

Elevations

However, the downside is that you must be on the lookout for storms instead of hurricanes. For example, Governor DeSantis announced that Ian is a 500-year floodplain storm – so they got to go back in history to find similar damage in that area.

Oh, and Florida is quite different from North Carolina in elevation. The highest peaks in most of Florida are overpasses, with most people living on 3’ – 10’ of elevation. In Brunswick County, we are blessed with higher inland elevations, such as Brunswick Forest boasting 30’ – 40’ above sea level, Ocean Ridge is 30-55’, and Compass Pointe is 25-40’, etc.

Below you can see the paths of 57 storms that have landed on the shores of the US since 1985 (Ian is not on the map below.) It is safe to say that even people who live inland in coastal states experience their level of storm hits. What is also true is that there is no actual safe place on the coast from Brownsville up to Bangor. Doug has some friends in Winston-Salem, which is easily 3 hours from the NC coast, who received a bunch of rain and experienced high gusts from Ian.

Flooding

One other item worth mentioning about hurricanes is that over 80% of the damages (and therefore costs) come from flooding. Winds will always be responsible for some damage, but the water produces most of the damage. Did you see the damage to Ft. Myers beach? Devastating is an understatement.

Picture on right is the water damage on the Federal Court House and the picture on the left is after the damages happened

And water damages occur in many ways. There is the obvious, such as water in buildings and homes and erosion, but in 2019 in downtown Wilmington, we experienced Florence. On Doug’s daily morning on the Riverwalk, he passes by the Federal Court House (formerly the US Customs House). Directly after Florence, none of the maintenance staff for the building came to check on the structure and air it out. What transpired during those 4-5 days was unimaginable. Mold spores grew inside the building because it was usually hot outside after a storm, and because they had some minor water intrusion in the building, it was like a terrarium inside. Today, over four years later, that building is still not inhabitable. They have been sucking out the moisture for four solid years, 24/7. Eventually, government officials decided to remove most of the drywall and replace all the windows. The repair cost to this building is astronomical now, and we still have no time on when it will reopen. Therefore, water damages come in all shapes and sizes and should be feared.

Hurricanes happen, and no place is without weather drawbacks. Since 1999, Doug has experienced two direct hits (relatively mild, though) and many drive-by’s. Before moving to Coastal NC in 1999, he lived north of Boston for seven years and experienced at least 4 Nor’easters – which is code for a wicked lousy winter storm. And before that, he spent three years in Milwaukee, where winter lasts seven months. No place is perfect. But if you are on the hunt for that Coastal NC home to retire in, then allow us at Carolina Plantations to help you with your search!

July 12, 2022August 10, 2022

Diverting Your Water

In one’s search for a retirement home and community, many factors exist to consider. Many of the most common are demographics of the residents, location, age of the community, and more. How often, though, do people give serious consideration to the movement of water in the community?

two different ways to divert water from home.

Since 2007, the team at Carolina Plantations has helped thousands of people find their dream location and home to retire to – even if it was not in Coastal NC. During that time, we welcomed nearly 500 families to Brunswick Forest, located in Leland, NC – just 5 minutes from downtown Wilmington. We bring this to your attention because, being as involved as we have been, we have been close to allies with the developer and have been privy to some valuable information.

Anytime you are within 50 miles of the southeastern coast of the US, you need to be concerned with water, for when you hear the phrase “Low Country,” that should associate in your head that low terrain equals high water table. And while our rain levels are pretty standard during the year, we get heavy rainstorms and occasional storm water drains and pipes feverishly moving water – and sometimes, lots of water.

What Choices are there?

When entering a community, you are most aptly to see one of two methods of moving water. The first is using culverts/swales placed in front of your homes. When it rains, these fill up with water, and if it is heavy rain, you might just end up with Lake Winnipesauke on your front lawn. This is because culverts tend to collect water and not move it as intended. And probably most important to note is that these swales tend to get long-standing water, collect garbage, and are hard to maintain.

Choice #2 is where the developer uses curbs and gutters along with sidewalks. This is far more costly than the first option but by far the best for you, the homeowner. Home water is often directed to the street, whereby gravity sends it to a drain. The water goes down the drain and is carried along pipes to a retention pond.

Retention Ponds

Retention ponds can be your friend if the developer has a plan if the ponds overflow. Spillways are commonly factored in, and water from one pond will flow to another at a lower elevation. This continues till the water is sent off the property to an estuary or into the town’s drain system. Retention ponds that do not have a spillway can often flood the homes of those who live around the pond.

showing two different ways that a retention pond works

Numerous communities throughout Brunswick County and Coastal NC do not install stormwater drains, pipes, or sidewalks. Many are older communities but make no mistake; economics drive the water removal issue 99% of the time. Some may say they are more environmentally conscientious; however, now you are armed with the truth!

Be careful when selecting a community and pay attention to how water is moved off your personal property and the community. The last thing you want to do when you retire is to worry about a lake forming in your yard every time it rains. If you’re still on the hunt for a dream retirement home, give our team at Carolina Plantations a call today!

October 10, 2021August 10, 2022

10 Years Later: The Housing Market Flip

We dug back into the archives on Carolina Plantations back to our eNewsletter dated October 2011. Exactly ten years ago, Doug penned an article “Selling for Less” in The Front Porch Gazette, which was the predecessor to Carolina Dreamin’, our current eNewsletter format.

The county was three years removed from the gut-wrenching financial collapse of our economy. Most homeowners across the country were selling their homes for less than they were valued in 2007 and early 2008.

The article pointed out that if you were selling your home in DC, NJ, PA, or MA, whatever you might be losing up there, you would be gaining down here, as our prices also tumbled. Fast forward ten years, and well, that certainly is not the case as just about every home listed in America sells within 48 hours.

But wait! Isn’t there some kind of irony going on here? We mean, does either market hurt you? Follow this logic for a second. Let’s look at what would have happened if you sold your home in 2011 for $400,000 or $500,000 in 2011.

Value of your Home Sale 2011 $400,000

Current Loan Balance 10/11 $100,000

Equity in your home $300,000

Cost of new home in NC $350,000

Net Cost of new Home $50,000

Value of Your Home in 2021 $500,000

Current Loan Balance 10/21 $50,000

Equity in your Home $450,000

Cost of new home in NC $450,000

Net Cost of New Home $0

We all know that the monthly cost of a $50,000 mortgage is relatively small (about $225 a month), so the irony lies in the fact that your home went up by $100,000. However, so did the cost to build a house down here in North Carolina. The net/net to you in this market is favorable but perhaps not as much as you had imagined due to the costs of building a home rising over the last ten years.

The problem today for many people deals with sitting on the sidelines waiting for lumber and materials prices to come down from their high earlier this summer. The retail costs have adjusted quite a bit; however, those prices adjustments just don’t seem to have made it through the supply chain yet, as many builders Doug has spoken to recently claim prices for almost all building products are still up sharply from the beginning of 2021. Until this occurs, resale homes appear to be the best bet financially, and this is what continues to drive a good portion of our real estate market in our country. If you’re ready to make that move from the Northeast to our beautiful shores of North Carolina, give us a call today. We are prepared to help you make the right decision to retire to Brunswick County.

June 3, 2021August 10, 2022

Brunswick County: Thousands of New Homes Approved & Proposed

If there is one thing that we have a lot of in Brunswick County, it’s land. If there is one demand in and amongst Coastal NC that we have an abundance of, it’s for more homes. Put them together, and BOOM!!

From Sunset Beach to Shallotte to Bolivia to Leland, developers are pulling out their checkbooks and doing everything they can to get new homes out of the ground at lightning speed. America is shy 4,000,000 homes to satisfy consumer demand. Yes, we said 4 million homes shy?? That is like 8,000 homes per county, give or take a few thousand. That’s nuts and quite frankly probably conservative because not every county has a bullseye on it for retirees, as does Brunswick County, NC. It has been one of the top three retirement destinations on the east coast for years, but with COVID-Flight happening in so many New England, Mid Atlantic, and Midwestern cities, Brunswick County is en vogue! Check out this article that Wall Street Journal has recently put out on the housing shortage.

For decades, Brunswick County has been one of the leading growing counties in America, but don’t let that scare you, as that is based upon a percentage of growth, not by population numbers. For example, here are several of the largest cities and their respective counties population in North Carolina:

CHARLOTTE – Mecklenburg County 1,143,570

RALEIGH – Wake County 1,142,740

ASHEVILLE – Buncombe County 265,055

WINSTON SALEM – Forsyth County 388,453

WILMINGTON – New Hanover County 238,907*

Brunswick County, NC 154,700*

*One interesting note is that Brunswick County encompasses 1,050 square miles, while New Hanover County to the north of us comes in 328 square miles. We have over three times the amount of land and only 64% of the population that Wilmington/NHC has. That is probably the #1 contributing factor to the continued growth of our little slice of heaven – we have the land!

If you are thinking of retiring to Brunswick County, give us a call today and allow one of our agents to help you in the process. Our little slice of heaven is waiting for you to call it you’re forever home today!