On Covid 19, your 401K, toilet paper shortages, and the real estate market. Some sanity from Kirk Pugh, Broker Realtor, at KBT Realty Group.



Let's add some insight into the question we get almost a hundred times a day now, "What is going to happen to the real estate market in light of the COVID-19 virus and in light of the tumultuous state of the stock market right now?"


On COVID-19 and the Real Estate Market

What's going to happen? The honest answer is, "We don't know."

In the six years prior to the real estate market crash in 2008, the average home price appreciation for each of the six years was somewhere in the 17-20% range. So, there was a huge appreciation in home values, leading to a great big bubble, that burst when the financial markets crashed in 2008.

In the six years prior to today, average appreciation on homes has been running in the 4-6% range, creating no where near the bubble and the overpricing that we saw back in 2006 and 2007.

On that ...

contributed by Jen Reed


What's Up | fun and festivities
March 1, 2 - 4 p.m. Exploring Women’s History | Cape Fear Museum, Wilmington | Recording artist Women's History Month kicks off at the Cape Fear Museum when Dr. Jan Davidson presents a program (2:30pm) that explores some of the many stories of women's experiences in New Hanover County. She'll talk about a diverse group of women, including World War I army nurse Rachel Loman; Augusta Mosely Cooper, the first black woman to run for city council; entrepreneur and milliner Lelia Corbin; and tennis star Althea Gibson. Curator Heather Yenco will also have a special sampling of artifacts from the collection related to these women.
March 1, 10 a.m. to 4 p.m. Art Exhibit Rivers and Waterways | Burgwin-Wright Home, Wilmington | The The Art Exhibit at Burgwin-Wright House in downtown Wilmington features Connections: Rivers and Waterways, paintings by Marion Clark Weathers.
March 7, 1 p.m. – 5 p.m. Marchtober ...

Well into the dog days of summer, the real estate market is hot, just like the weather is outside.

Kirk Pugh jumps right into some numbers to see what that means to the real estate buyer or seller. If you are a seller today, whether you are getting a job transfer, moving to get closer to family, or needing to upsize for a growing family or downsize, the market is very much in your favor right now. "Absorbtion rate" is something that we talk about internally on the KBT Realty team. At what pace are homes that are put on the market in various price categories selling, and what is a reasonable expectation a seller can have for how long it may take to get their house sold? 

If we look at the market by price point, Kirk suggests, up to about $350,000, in New Hanover county, assuming a house is in a decent location and in decent condition without too much deferred maintenance, there is a three month supply of inventory. On the spectrum of buyers-market, sellers-market, a h ...

Meet Johna Herbinger, Broker Realtor with KBT Realty in Wilmington NC. Johna moved to the Topsail Island Beach area a year ago, from New York state. She and her family wanted to be near the water, and chose Surf City because it was the closest she could get without being directly on the beach.  

She often walks the beach before sunrise. Every Wednesday morning, she volunteers with the Topsail Turtle Project, walking one mile of beach looking for turtle nests during nesting season.

Johna points out that Realtor.com recently posted an article that states Topsail Island is one of the most affordable beach communities in the United States. The name "Topsail" actually came from the pirates who used to hide behind the island on their ships, waiting to see the tops of the sails of ships to attack for riches.

Johna sells real estate from Hampstead south to Holden Beach: the whole southeastern North Carolina coast. She is happy to introduce prospective buyers to t ...

Meet Rebecca Robbins, Broker, Realtor with the KBT Realty Group, and her dog Mazy. Rebecca is new to the KBT Team in Wilmington NC.

Rebecca loves Wilmington, and the Cape Fear area's dog-friendly attributes a are high on the list of reasons she chooses to live here. She tries to take Mazy with her everywhere she goes. From parks, outdoor restaurants, beer gardens, farmers' markets, and even many retail stores, options for dog owners are numerous.

One of Rebecca's favorite places to walk with Mazy is Smith Creek Park, off Gordon Road. Smith Creek Park offers a beautiful dog-friendly walking trail. In the summer, the park trail is particularly inviting in the evening when the temperature has cooled a bit and the sun is ready to set. Smith Creek Park is near Murrayville, and Rebecca loves showing clients homes that any dog would approve of.

Originally from Durham NC, Rebecca moved to Wilmington in 2008 to go to college and fell in love with city. She has been in real estate ...