Every day from Maine to California to Florida, real estate professionals are urging people to get off the sidelines and jump into the market of opportunity.
Unless you are in your 80s and 90s, the average adult has never had the ability to purchase real estate at such low interest rates. Want to guess what my first interest rate was when I purchased my home in the 80s? It was 13 ¼% and in the North Atlanta suburbs we mortgaged $70,000 in 1982 and our monthly mortgage (P&I) was $788. Today, someone leveraging the same amount would pay $314. That is 39% of what we paid in the early 80s!
In 2006 when I opened Carolina Plantations, real estate prices were high and almost every commercial building was occupied. So as a hedge bet, I purchased 1.5 acres zoned Highway Business in Shallotte on Hwy 17 with hopes of building my office on it one day. In the meantime, I lucked out with a long term lease on the building that we have called home for the past 6 years.
This summer an opportunity arose in Shallotte with a friend of mine and he wound up swapping the old Huddle House restaurant for my property. Finally we could have an office with more than two paved parking places. (of course after a major renovation!! 🙂
Seven days a week the team at Carolina Plantations does our best to convey to people that if you have the means to secure real estate now, than by doing so you will rest easy knowing that you got in at an incredible time. So, instead of just preaching “Living the Crazy Life”, Carolina Plantations went out and joined in the frenzy because we believe in the market here in Brunswick County, NC. And while it has been slow in many markets up and down the east coast, Brunswick County has been on fire in 2012 with an increase of more than 50%.
Make no mistake about it, we are two small businesses (including Plan View Design) but we impact a lot of people’s lives. For example, every time Haley designs a home, our clients choose a builder and the economic impact of $400,000 being infused into our economy is pretty amazing. Now consider that Plan View Design works with over 50 clients a year and we are the catalyst for $20,000,000 being spread amongst building supply companies, county employees (inspections, zoning, etc.), electrical/plumbing contractors, developers, builders, framers, HVAC firms, concrete companies, painters, flooring companies and so much more. And this does not include the economic impact our great real estate team is contributing.
A little over eight weeks ago, the inside of our new building looked like this:
Today, after a tremendous effort by a local contractor and their subs, we look like this:
We are proud to be a small business that has survived probably one of the most uneasy economic times of our lifetimes. No lie – at times since 2007 when we opened it has been challenging. However, our vision and perseverance won out and America needs to continue rooting for Mr. & Mrs. Small Business, as free enterprise is one of the greatest principles our great country was founded on.
If you have ever owned a firm or managed people, than you know that your success is tied to your strategic partners, and we are no exception. I must first thank my good friends at Inter Coastal Net Designs in Ocean Isle Beach, as we are probably the #1 real estate website in Southeastern NC. www.CarolinaPlantations.com Also very deserving is Carol Holmberg of the Bellamy Law Firm in Shallotte, the finest closing manager in NC! Vince Bacchi with Union Mortgage Group, Laurel Bellamy with Farm Bureau Insurance, Jim Giuffre with National Property Inspections and Bobby Long Surveyors are also reliable professionals.
So on behalf of Haley, Pat, Nancy, Court, Carolyn, Chris, Pam and our business partners, thanks to all of you who have believed in our team for our first 6 years. We are honored that you have trusted us to help you live the crazy life ( “Livin’ la Vida Loca”), and we look forward to seeing everyone at our new office at 4660 East Coast Lane in Shallotte, NC.