Wilmington NC Real Estate

Bucking the Trend

2006-07-26T10:38:00.000-07:00

The Associated Press reports that, nationwide, the sale of existing homes fell in June for the 8th time in 10 month. The Wilmington, NC real estate market is not following the trend. The Wilmington Regional Association of REALTORS MLS data shows that 808 homes were sold in June, an increase of 9.5%. The average sales price dipped 0.1%. The demand is still strong and the inventory lower for homes priced below the median. The higher end home sales has been slow, especially in the beach markets.

For a search of homes curently on the market, use my no-registration required home search.

basketball Coming to Wilmington, NC

2006-07-20T13:48:00.000-07:00

The new Wilmington-based ABA professional basketball team has scheduled a public news conference for Monday, July 24th at noon at the Cape Fear Community College's Schwartz Center. Kevin Whitted, Head Coach of the new team, along with Mark Janas, another co-owner of the team, will present the team name and logo.

Following a prepared statement, Whitted and Janas will be available to answer general questions about the team. Introductory media kits will also be distributed following the news conference. "We are excited to introduce our team to the community," said Whitted. "This initial news conference is just the first of many media events we have planned to create enthusiasm about our new sports offering."

It is great to see Wilmington, NC growing and adding more sports and other cultural events to our community.

Paul Sullins
Network Real Estate

The Fort Fisher Hermit

2006-07-16T07:09:00.000-07:00

This post is a little off the beaten path of downtown Wilmington, NC, but is about a local legend in the area.

"Robert E. Harrill, who became known as the Fort Fisher Hermit, lived for 17 years under the stars, living off the land and the contributions of visitors who came by the thousands every year to meet "The Hermit." A misnomer from almost the beginning, "The Hermit" treated anyone who came by with a warmth and friendly appreciation that was contagious" From the website

His story is now on film and available on DVD. Visit The Fort Fisher Website

- Paul Sullins

Save Money at Home

2006-07-09T09:08:00.000-07:00

If you are interested in energy conservation and how to save money on your utility bills at home in an environmentally friendly way check out The Kilowatt Ours website The Movie will be showing in Wilmington, NC on July 16th at 7pm, UNC Wilmington Cameron Auditorium. The filmmaker Jeff Barrie will there.

July 4th Downtown Wilmington

2006-06-29T11:38:00.000-07:00

On Tuesday, July 4th, at 9:05 pm the Battleship NORTH CAROLINA hosts the 10th Annual “BATTLESHIP BLAST” fireworks spectacular.

One of the state’s largest choreographed fireworks displays explodes over the Battleship. This production by PYRO SHOWS, an international award-winning pyrotechnics company, is guaranteed to dazzle residents and visitors alike.

The 2006 4th of July Celebration and the Battleship Blast are brought to you by the City of Wilmington, U.S. Cellular, WECT TV-6 and the Battleship NORTH CAROLINA along with media partner Cumulus Broadcasting. Bring the entire family and enjoy an explosive evening! View from historic downtown Wilmington. The Battleship closes at 6pm for fireworks.

Have a great 4th
Paul Sullins

Craig's List Comes to Wilmington

2006-06-24T07:02:00.000-07:00

If you are a Craigslist user, good news, Wilmington, NC is now on the service. If you haven't seen or used it, Craigslist is a popular, free, online classified service with all sorts of listing categories and community boards. Check it out at wilmington.craigslist.org

Paul Sullins

Regional Economy Looking Good

2006-06-17T07:18:00.000-07:00

Wilmington Star-News, Thursday, June 15.

New Hanover, Brunswick and Pender counties will experience "robust" growth in the next 12 months, growing 9% , said Dr William "Woody" Hall Jr., senior economist at UNCW .

Dr Hall had projected a 7% growth rate for 2006 last year, but now has revised his projection upward.

Median household income has risen to $50,000, up from 1990 when it was $35,000, which may indicate an influx of wealth and better-paying jobs, Hall said. And, while housing and utility costs are higher in this area the remaining cost of living is "fairly inexpensive compared to other metropolitan areas."

The construction sector will continue to be strong, he said. While the number of new permits dropped 2.5 percent in 2005 in New Hanover County, there still were 2,600 building permits issued, valued at more than $775 million, Hall said. Eight of every 10 permits were for single-family homes.

Contact me for more information on the Wilmington, NC regional real estate market.

Goodbye After 22 Years

2006-06-13T11:41:00.000-07:00

After 22 years as a downtown retail merchant, Mimi Kessler, owner of Rare Cargo, 122 N Front St, Wilmington NC has hung out "The Big Sale" Sign.

Everything is 22% off to commemorate her 22 years in business. Mimi has sold the building and has decided to "retire" from the retail trade.

Stop in and take a look at a store full of "Things You Don't Really Need"

We'll Miss You Mimi.

Foggy Morning on the Riverwalk

2006-06-05T07:00:00.000-07:00

By Diane Boissiere

Coastal Building Boom

2006-06-04T09:51:00.000-07:00

In the Sunday, June 4, 2006 Raleigh News & Observer, Jay Price reports on "the Tens of thousands of retiring baby boomers -- many from out of state and ready to cash out of expensive housing markets -- are expected to migrate to the mainland shore, a 20-county area stretching from Currituck in the northeast to Brunswick on the state's southern coast."

For the full story.

The riverfront of Historic Downtown Wilmington is experiencing the boom. One bedroom riverfront condos at Water Street Center have seen a surge in sales activity and prices, which have recently passed the $300,000 mark. A river view condo listing

Visit my website for a free, no registration required, search of the area MLS. Downtown is covered by Zip-code 28401.

Paul Sullins, Broker
Network Real Estate of Wilmington, NC

The Invasion is Back!

2006-05-27T09:32:00.000-07:00

The 2nd Annual Invasion of the Pirates Flotilla is set for Saturday, Oct 7, 2006 during Riverfest in historic downtown Wilmington, NC.

This year's Invasion will be bigger and badder than ever. Sinbad, aboard the Meka II, will be along to help take the city. A surprise Tall ship may join the siege.

So swab the decks, load up the cannons, deck your ship and join the Invasion. Registration now open. Here's the form matey. Free dockage will be provided on a first come basis. All hands will enjoy the Pirate's Pre-Invasion Party Friday night. Check back for more info on the treasure hunt and other events.

Brought to you by WHET Helping to put the River back into Riverfest.

PED ART Display Enhances Downtown Walking Experience

2006-05-22T05:08:00.000-07:00

The PEDestrian ART (PED ART) Project is a public sculpture program intended to serve as an economic, cultural, and visual stimulus for downtown Wilmington. The non-profit organization, Tabula Rasa, under the sponsorship of City of Wilmington Downtown Services, has selected sites in the Central Business District (CBD) of downtown Wilmington to make art accessible to the general public.

Samples on display to September 2006.

For more information about Wilmington, NC and real estate available in the area, please visit The Wilmington Connection.

Wilmington NC Photographic History

2006-05-20T07:30:00.000-07:00

While helping a client research a building in the downtown area, I was directed to the Dr. Robert M Fales Collection. This online resource provides access to 1,300 photographic slides documenting the history of Wilmington, NC.

If you are searching for a historic home, condo downtown or any other real estate in Wilmington, NC , please visit my online MLS search.

Enjoy the slide show.

Maritime Day

2006-05-19T12:28:00.000-07:00

On Sunday, May 21, from 11:00 am to 5:00 pm. Come explore one of the key economic drivers of the regional economy, the Port of Wilmington, NC on Maritime Day. This is a free event. Click here for more info

The Wilmington economy is growing at a rate of 7% to 9%, this growth makes it a great time to invest in real estate

History Online

2006-05-10T12:32:00.000-07:00

Check out Port City Architecture On-Line This site allows you to see and read about Wilmington's historic buildings, learn how to research your old house, get a Historic Wilmington Foundation Plaque Application, and view detailed research on many of the buildings.

If you are interested in housing in Wilmington NC, My online MLS Search is an easy way to get started.

Finding the Nina

2006-04-30T08:54:00.000-07:00

The Nina arrives in Wilmington, NC on Tuesday, May 2, 2006. While in port, the general public is invited to visit the ship for a walk aboard self-guided tour every day of the week. From Wednesday May 3rd to Sunday May 7th.

The prices are $5.00 for adults, $4.00 for senior citizens (60+), and $3.00 for students. Children 4 and under are Free. The ship will be open every day from 9:00 a.m. to 6:00 p.m. No reservations necessary.

The ship will be docked at the Conlon Dock located at 503 Nutt Street. The Dock is the northernmost point of the downtown Riverwalk, located behind the Coastline Inn and Convention Center and the Wilmington Chamber of Commerce.

Take Market Street (west) towards the river. Turn Right on N Water Street. Water Street will curve right at the Railroad Museum. Turn left on Nutt Street. Plenty of parking at the Convention Center and on the Street.

Call the Wilmington Visitors Center at (910) 341-4030 for additional directions.

Rims on the River

2006-04-16T07:51:00.000-07:00

On Saturday, April 22, 2006 Rims on the River, a vintage car and hot rod show, will take place in downtown Wilmington, NC. Over 100 cars (dating post-1970) will line the streets of downtown Wilmington.

Click here for more info

59th Wilmington, NC Azalea Festival

2006-04-01T10:17:00.000-08:00

The 59th Annual North Carolina Azalea Festival will be held April 5-9, 2006 in the greater Wilmington area. The Festival is a celebration of Wilmington’s exceptional artwork, gardens, rich history and culture during its five days of entertainment that includes: a parade, street fair, circus, concerts, pageantry, and all that is Southern.

The Nina is Coming!

2006-03-19T08:26:00.000-08:00

Wilmington, N.C. – The Wilmington Harbor Enhancement Trust announces that on Wednesday May 3rd, the “Nina”, a replica of Columbus’ favorite ship will open in Wilmington. The ship will be docked at Conlon Dock, 503 Nutt St., behind the Coastline Convention Center, until her departure early Monday morning May 8th.

Built completely by hand and without the use of any power tools, Archaeology magazine called the ship “the most historically correct Columbus replica ever built.” The craftsmanship of construction and the details in the rigging make it a truly fascinating visit back to the Age of Discovery. The ‘Nina’ was used in the production of the film 1492’ starring Gerard Depardieu and directed by Ridley Scott.

The ‘Nina’ was built in Bahia, Brazil by the Columbus Foundation which is based in the British Virgin Islands. The ship has been touring continually since 1992 as a ‘sailing museum’ for the purpose of educating the public and school children on the ‘caravel’, a Portuguese ship used by Columbus and many early explorers to discover the world.

While in port, the general public is invited to visit the ship for a walk aboard self-guided tour every day of the week. The prices are $5.00 for adults, $4.00 for senior citizens, and $3.00 for students. Children 4 and under are Free. The ship will be open every day from 9:00 a.m. to 6:00 p.m. No reservations necessary.

Teachers or groups wishing to schedule a 30 minute guided group tour with a crew member can call the ship at 1-787-421-0402, or email columfnd@surfbvi.com. Minimum of 15. Visit our website at www.thenina.com for additional information. The ship arrives on Tuesday May 2nd and there will be a private viewing of the ship for the media after docking.

Columbus Foundation Inc., British Virgin Islands,
Phone (284) 495-4618 Fax (284) 495-4616
email columfnd@surfbvi.com
The Nina, Ltd., Georgetown, Grand Cayman, BWI,

Wilmington Harbor Enhancement Trust (WHET) Join WHET by visiting our website and help us bring more ships and docking to downtown Wilmington.

Economic Impact

2006-03-13T08:05:00.000-08:00

*SINGLE FAMILY CONSTRUCTION IMPACT ON LOCAL ECONOMIES: In the southeast North Carolina counties of Brunswick, New Hanover and Pender Counties, a total of 7,707 single-family home permits were issued in 2004. Those 7,707 homes generated approximately 28,616 jobs and a total economic output of approximately $2.8 billion as well as approximately $234 million in additional government revenues. (Each county supplied the permit data which was processed by UNCW's Economics Department.)

Happy St Patrick's Day

2006-03-13T04:56:00.000-08:00

The annual Wilmington St. Patrick's Day was held Saturday March 12th. With the spring-like weather in the mid-70's.

March 2006. Wilmington, NC Statistics

2006-03-02T05:43:00.000-08:00

March 2006. Wilmington, NC Real Estate Market Statistics

As of March 2, 2006

Single Family Homes For Sale: 1188
Single Family Homes Under Contract: 803
Single Family Homes reported Sold in previous month: 230

Condominiums & Townhomes For Sale: 845
Condominiums & Townhomes Under Contract: 501
Condominiums & Townhomes reported Sold in previous month: 83

Based on information from the Wilmington Regional Association of REALTORS Incorporated, for the period February 01, 2006 through February 28, 2006.

Statistics cover ONLY properties in New Hanover County. Sold data may not be 100% complete at time of reporting. For Sale & Under Contract listings may be proposed construction. Statistics are for informational purpose only.

Please contact Paul Sullins for more details. For current MLS/IDX listings in the area, visit http://www.wilmingtonconnection.com/

Be a Tourist

2006-02-22T11:05:00.000-08:00

Sunday, March 5, is “Be A Tourist In Your Own Hometown” Appreciation Day.

Residents of New Hanover County can visit 29 local tourist attractions for free. The idea is to thank residents and familiarize us with tourism assets. It's the 11th year the event has been held. You can

Q4 2005 Real Estate Statistics

2006-02-19T11:11:00.000-08:00

The National Association of Realtors(r) has released the Fourth Qurater report for the Wilmington, NC region. Lawrence Yu, Senior Research Forecaster, reports:

"Home sales increased throughout the year in the local area in the past year. A total tally was 9,108 unit sales, an increase of 17.5%. As for home prices, 2005 notched up a solid rate of appreciation with a 19.2% rise. Price growth in 2004 was 9.7%. A typical local area home price was $254,700. The job market situation is strong and the region continues to draw many new residents. In 2006, the local job growth rate will easily outpace the national average. Home sales, meanwhile, will rise by 3%, the growth being held back from higher mortgage. However, the local region will see faster home price appreciation of 12%. The outlook for 2007 looks even brighter as overall sales will rise at a faster pace."

Very encourgaing news for the region. For the complete report, email me

Paul Sullins

City of Wilmington, NC Rain Barrel Sale

2006-02-05T09:43:00.000-08:00

Save Water and Save Money. The City of Wilmington, NC StormWater Services is offering Rain Barrels for sale at 35% off the regular retail price. Ordering Information

February 2006 Wilmington, NC Statistics

2006-02-02T08:15:00.000-08:00

February 2006. Wilmington, NC Real Estate Market Statistics

As of February 2, 2006

Single Family Homes For Sale: 1131
Single Family Homes Under Contract: 773
Single Family Homes reported Sold in previous month: 226

Condominiums & Townhomes For Sale: 711
Condominiums & Townhomes Under Contract: 520
Condominiums & Townhomes reported Sold in previous month: 72

Based on information from the Wilmington Regional Association of REALTORS Incorporated, for the period Jan 01, 2006 through Feb 02, 2006. Statistics cover ONLY properties in new Hanover County. Sold data may not be 100% complete at time of reporting. For Sale & Under Contract listings may be proposed construction. Statistics are for informational purpose only. Please contact Paul Sullins for more details on Wilmington, NC Real Estate.

For current MLS/IDX listings in the area, visit http://www.wilmingtonconnection.com/

Commercial Property for Sale

2006-01-27T10:32:00.000-08:00

511 N 3rd Street. Listed for $895,000. Includes main building with retail space,2nd floor loft style apartment with hardwood floors and attention to the details. Separate metal warehouse with roll up door. Zoned CBD. Off street parking. Details Here

Contact Paul Sullins for more information or to arrange a showing.

This property is located on busy N 3rd Street, a high volume corridor to downtown Wilmington, with direct access to the MLK Parkway and I-40.

Great potential for future development in the north side redevelopment area.

Latest on the Wilmington Convention Center

2006-01-15T08:05:00.000-08:00

The latest design and update on the Convention Center in Wilmington, NC have been released.

Changes include adding almost 10,000 square feet meeting space:
-2,000 square feet ballroom space
-5,000 square feet exhibit space
-2,700 square feet meeting rooms
-Parking deck spaces reduced from 650 to 580.

The changes yield approximately 120,000 square-foot convention center, including 56,000 square feet of meeting space

• Designed to accommodate future expansion.
• Future development site identified in previous design has been eliminated.
• Added aesthetic touches such as brick and limestone accents, change in roof line, to reflect input from Council and Mayor’s Convention Center Task Force.

The Fact Sheet spells out more details.

January 2006 Wilmington, NC Statistics

2006-01-02T11:32:00.000-08:00

January 2006. Wilmington, NC Real Estate Market Statistics

As of January 2, 2006

Single Family Homes For Sale: 1037
Single Family Homes Under Contract: 716
Single Family Homes reported Sold in previous month: 279

Condominiums & Townhomes For Sale: 685
Condominiums & Townhomes Under Contract: 537
Condominiums & Townhomes reported Sold in previous month: 85

Based on information from the Wilmington Regional Association of REALTORSÒIncorporated, for the period Dec 01, 2005 through Jan 02, 2006. Statistics cover ONLY properties in new Hanover County. Sold data may not be 100% complete at time of reporting. For Sale & Under Contract listings may be proposed construction. Statistics are for informational purpose only. Please contact Paul Sullins for more details. For current MLS/IDX listings in the area, visit http://www.wilmingtonconnection.com/

International Flight to Wilmington Update

2005-12-27T09:17:00.000-08:00

Fly First Class Airline is getting closer to launching flights from Wilmington to the UK. Visit their website

Fly First Class hopes to start direct flights to Bermuda and London in April once final government permission is secured, said Darrell Richardson, chief executive officer of the Florida-based startup airline.

The twice-weekly service will operate from Wilmington on Fridays and Sundays. Flights will depart Wilmington at 5 p.m. for the short two-hour flight to Bermuda. The plane, after an hour layover, will then depart Bermuda for the nearly seven-hour flight to London’s Stanstead Airport.

Richardson said the airline expects to start accepting reservations, and announcing ticket prices, in January.

Happy Holidays

2005-12-23T06:26:00.000-08:00

Happy Holidays from Paul Sullins & Network Real Estate

The World's Largest Living Christmas Tree.

Hilton Park, Wilmington NC.

The Forecast

2005-12-08T12:33:00.000-08:00

By Lawrence Yun, Senior Research Forecaster, National Association of REALTORS.

The Wilmington region is far removed from the Hurricane zone. Hence, the local area market condition has been determined primarily by job and mortgage rate conditions. The local area created 2,700 jobs in the past 12 months to September. Through the first three quarters of 2005, existing home sales are up by 22%. Home prices have risen by 27% over the 12 months to reach $265,300 in the third quarter. For 2006, the big challenge will be the rising mortgage rates. They are expected to climb to near 7% after having been under 6% for most of 2005. As a result home sales growth will slow a bit (and not a decline as predicted for many other markets). Home prices will show a robust gain of near 10% in 2006.

For a copy of the full Q3 2005 Market Report please email Paul Sullins

Now Filming ...

2005-11-29T11:10:00.000-08:00

Warner Brother's One Tree Hill is currently filmed in Wilmington, NC. The set of Karen's Cafe is located on North Front Street at Grace Street.

NBC's Surface is also in production here.

Wilmington is home to many movie and TV shows which have been filmed here. The Film Commission Website list many of the shows.

Wilmington Convention Center Update

2005-11-21T13:49:00.000-08:00

The Wilmington Convention Center will be located on the historic riverfront in downtown Wilmington. The facility will serve as an economic catalyst for the region, with construction expected to begin early next year.

"The scaled-down design of the convention center is less magnificent, less bold, less imposing. On the other hand, it’s more flexible, perhaps more functional and certainly less imposing. Read more of Si Cantwell's Article"

Link to City Site with updated design

Veteran's Memorial Site Dedicated

2005-11-14T11:55:00.000-08:00

Rolling Thunder, North Carolina Chapter 3 held a ground breaking on Sunday, Nov 13 to dedicate the site for the Veteran's Memorial.

Their goal is to raise $500,000 to build the memorial. On Sunday, 5 benches were placed on the park site on the riverfront in downtown Wilmigton. Memorial information

The Wilmington Fire Department presented colors.

Creative in Wilmington

2005-11-12T08:55:00.000-08:00

CreativeWilmington.com is a new community website focused on everyone and everything creative in Wilmington. The website was just launched, but is already growing with members and events in the area.

Check it out and support the Arts.

Free City WiFi

2005-11-08T11:29:00.000-08:00

Parts of downtown now have free WiFi service as a result of a partnership between the city of Wilmington, NC and Epproach Communications.

The new WiFi service allows users to check email and surf the internet while in downtown. The city is working with Epproach Communications LLC, a provider of Wireless Broadband services in Savannah, Ga., and Wilmington N.C., to offer the service. The company is providing the service without cost to the city.

The website that provides an entry to the internet from this WiFi zone uses many of the same links on the official City Website. To use the City Port Free WiFi network, users need only to conduct a “search for wireless networks” from their laptop or wireless enabled device and select the “City Port Free WiFi” identifier that is displayed. Access to the system requires users to create a simple account username and password. Access is limited to 30-minute, renewable blocks of time.

Currently the WiFi coverage includes much of Water Street in central downtown, the foot of Market Street, and the area sur rounding Thalian Hall and around the city administrative buildings.

If this project is successful, other public spaces such as selected city parks may get WiFi service as well.

Wilmington Convention Center

2005-11-03T12:21:00.000-08:00

The stars seem to be in alignment for Wilmington, NC to finally get a downtown convention center. Plans call for a 2006 construction start with a completion date in early 2008. Overall the center will have 137,000 Gross SF, 34,000 SF Exhibition space, 12,000 SF Ballroom and 5,000 SF meeting space. For a link to the city website and more info on the plans and details click here

New Flight to Wilmington

2005-11-02T10:51:00.000-08:00

Fly First Class announced plans to start international air service early next year between Wilmington and London, with a stop in Bermuda.

The service will operate twice a week and would operate a Boeing 767 equipped with 90 seats.

More info

Wilmington Harbor Enhancement Trust

2005-11-01T11:45:00.000-08:00

Join WHET Thursday Nov 10, 2005 at The George for our Annual Meeting and Social. Tickets are $25 per person. members receive free tickets based on rank. For tickets or membership information, please contact me paul@paulsullins.com

WHET is non-profit organization interested in promoting the orderly development of property and recreational activities along the Wilmington riverfront

New Listing in Hearthside

2005-10-22T06:40:00.000-07:00

This beautiful 3 bedroom, 2 bath home is immaculate. A must see! 1976 square feet. Shows like a spread from a magazine. 2 car garage, fenced back yard, cul-de-sac lot. Offered at $295,000. Brochure

Proposed Docking Downtown Wilmington

2005-10-16T08:37:00.000-07:00

Future Docking

Almont Shipping Company proposes to construct a 204-slip marina containing 173 permanent wet slips and 32 slips in the form of transient side-to dockage. Permanent slips will be 50’ and 60’ in length. Transient slips will be 60’ to 50’ in length. Permanent slips will be available for lease and/or purchase by the public and/or residents of future upland development. Transient slips will be available for short-term, fee-daily use by the public. Fuel service is proposed, although no other maintenance or marine services are proposed. The city’s public Riverwalk would be extended along the perimeter of the basin, just landward of the bulkhead. The project area is located within Almont Shipping Terminals property on the Northeast Cape Fear River in downtown Wilmington, North Carolina. Application

City of Wilmington Election Results.

2005-10-12T12:36:00.000-07:00

Congratulations to incumbent mayor Spence Broadhurst on his victory in the October 11, 2005 city election. Spence won a resounding vote of confidence from the citizens of Wilmington. He is the first mayor in 10 years to be elected to a second term. Thanks for the excellent leadership.

Kudos to councilmen Jim Quinn & Jason Thompson on their victories.

Economic Vitaility of Wilmington, NC & SE Region.

2005-10-08T05:13:00.000-07:00

The local economy is healthy. “We still continue to be one of the most rapid-growing areas in North Carolina,” according to Dr. William “Woody” Hall. The local economy is expected to grow at a steady rate of 7 percent in both 2005 and 2006, said Dr. Hall.

Residential building permits in New Hanover County far outpaced nonresidential, and they’ve remained steady over the past two years. The majority of permits issued were for single-family homes. Between 2004 and 2005, about 44 percent more residential building permits were issued than in 2001. In 2001, there were about 1,600 issued, according to Dr. Hall.Dr. Hall predicted that home construction will slow over the next few months because of rising costs in building materials

Full Story in the Star News

Economic Outlook Conference

PPD Begins Construction

2005-10-07T05:39:00.000-07:00

PPD Construction in Wilmington

In January 2005, PPD acquired approximately 7.5 acres of property located in downtown Wilmington, North Carolina, on which they plan to construct a new headquarters building. The new facility will be approximately 400,000 square feet and is expected to be completed in November 2006. At that time, they will begin consolidating their Wilmington operations into the new building. The total cost for the construction and up-fit of the new building is expected to
be in the range of $80.0 million to $100.0 million. The total purchase price for the land was approximately $2.8 million. In connection with the sale of the property, the seller, Almont Shipping Company, refinanced existing liens on the property with the proceeds of an $8.0 million loan from Bank of America, N.A. This loan will mature in January 2006 and is secured by a lien on substantially all of Almont’s assets, including a tract of land containing approximately 30.0 acres adjacent to the 7.5 acre tract they acquired. This loan is also secured by a guarantee from PPD. Almont’s obligation to reimburse PPD in the event that PPD is required to pay any sums to Bank of America under the guarantee is also secured by a lien on substantially all of Almont’s assets. As a part of this transaction, Almont granted PPD an option to purchase all or a portion of the adjacent 30-acre tract of land at an agreed upon price per acre. The option will expire on January 31, 2007.

Source PPD 2004 Annual Report.

Art for the Masses IV

2005-09-21T09:45:00.000-07:00

Saturday, September 24, 2005

ART FOR THE MASSES
Original Local Fine Art for $250 or Less! 80 Regional Artists are pleased to invite you to purchase Artwork directly from them for $250 Or Less... No Gallery, No Middleman, No Wine, No Cheese, Just Hardcore Capitalism !!!!

THIS SATURDAY ONLY September 24, 2005 10AM - 5PM
The Old Ironworks Building, 201 South Water Street
(the corner of Water and Orange Street)
Wilmington, NC

any questions call 910.619.9296

Riverfest 2005

2005-09-21T09:16:00.000-07:00

Celebrate Life & Culture on the Cape Fear River

Come celebrate with us September 30 to October 2, 2005. Riverfest a weekend of fun and adventure on the Cape Fear River in Historic Downtown Wilmington, NC. Events include: Invasion of the Pirates Flotilla, Fireworks, Street Fair, Healthfest, ArtExpo, RiverJam, Kid Zone, Classic Car Show, Treasure Hunt and much more. The Riverfest website

Stop by Network Real Estate's office on N Water Street for free popcorn!

Growing, growing, growing

2005-09-19T09:04:00.000-07:00

In the southeast North Carolina counties of Brunswick, New Hanover and Pender Counties, a total of 7,707 single-family home permits were issued in 2004. Those 7,707 homes generated approximately 28,616 jobs and a total economic output of approximately $2.8 billion as well as approximately $234 million in additional government revenues. (Each county supplied the permit data which was processed by UNCW's Economics Department.)

Economic Outlook Conference

2005-09-18T08:04:00.000-07:00

UNCW's Cameron School of Business is hosting an Economic Outlook conference on October 6, 2005. The REALTORS Commercial Alliance is a sponsor of the event. For more information and a link to the conference registration click here.

2005-09-03T09:02:00.000-07:00

New Office in Brunswick

Announcing the grand opening on Network Real Estate's newest office. Located at 110 New Pointe Blvd, Suite 4, Leland, NC 28451. Phone 910-371-9937. Kimon Davies heads the sales team.

Wilmington Stats

2005-08-27T11:35:00.000-07:00

According to the 2000 census, 40.2 percent of residents of the Wilmington metropolitan area – which includes the urbanized areas of Brunswick and Pender counties – weren’t born in North Carolina. Nearly 60 percent of the region’s housing stock also has been built since 1980.That means nearly 100,000 people – and more than 50,000 new homes and apartments – have been added in the last two decades.

Wilmington, NC MSA encompasses New Hanover County and parts of Brunswick and Pender Counties. For MSA stats visit http://recenter.tamu.edu/data/popm/pm9200.htm

Water Street Center Merchant

2005-08-14T11:11:00.000-07:00

Buckets of Bulbs

Welcome Tiffany Martin, owner of Buckets of Bulbs. Located in Suite 106 at Water Street Center. Buckets of Bulbs provides an alternative to cut flowers. A gift that keeps on growing.

New Listing in the Historic District of Wilmington

2005-08-07T10:51:00.000-07:00

516 Walnut

Offered at $295,000, this home is currently configured as a duplex, with separate meters and systems. Remove a wall and it is back to a single family home, within easy walking distance of the fine amenities of historic downtown and the riverfront. For more information click here

A Star for Don Payne on Wilmington's Walk of Fame

2005-07-23T17:35:00.000-07:00

Celebrate Wilmington

On Saturday, August 27, at 10 AM, on Walk of Fame plaza, at the Cotton Exchange, Wilmington, NC , Celebrate Wilmington! Inc. will dedicate a star to film and TV writer, Don Payne.

Don Payne is a television writer/producer and screenwriter who was born in Wilmington. He currently is co-executive producer/writer on FOX’s international hit series THE SIMPSONS, the longest running sitcom on television and the longest-running animated show in television history. He is now in his seventh season with the show.

Don graduated from New Hanover High School in 1982, where he served as Senior Class President. His mother and his grandparents were also NHHS graduates. During his high school years, he was actively involved in local theater, performing in numerous productions at Thalian Hall, as well as acting in and directing plays as part of the Hanover Thespians, his school’s drama club. He was also a member of his high school’s chorus groups -- the Hanover Singers and Hanover Singers Ensemble.

Celebrate Wilmington! created in 1994, is a collaborative effort between the community, the University of North Carolina at Wilmington, and Wilmington Rotary. The Walk of Fame honors Wilmington’s “own,” who have attained national acclaim in their respective fields of endeavor, with a personal star in the sidewalk at the Cotton Exchange. Celebrate Wilmington! also recognizes those who enrich our cultural community via the Lifetime Achievement Award.

For more information, call 910.343.3664 or 800.523.2820

Wilmington Golf Ranking

2005-07-22T05:09:00.000-07:00

Wilmington Ranks #8

For the third time since 1998, Golf Digest has ranked America's largest Metropolitan Statistical Areas (August 2005 issue). In cooperation with The Longitudes Group, utilizing the Golf Digest Companies' Database of Golf in America, the survey found that the best places to live and golf are increasingly shifting to small towns and suburbs in the South (11 of the top 20).

With 292 days of play a year, Wilmington NC comes in at #8!

For the full city ranking click here

Coast Guard Day

2005-07-21T12:13:00.000-07:00

Coast Guard Day

The City of WIlmington and the United States Coast Guard have organized a Coast Guard Day in Wilmington. The event will take place on Saturday, July 30th from 9 a.m. - 3 p.m. There will be free ship tours of Coast Guard vessels, land/sea demonstrations, information booths, music and much more. Coast Guard Day is a FREE event that will take place downtown on Water Street and in the Coast Guard parking lot. A special ceremony will also take place honoring the Coast Guard at 9:30 a.m. Senior members of the Coast Guard, the Mayor of Wilmington and other elected officials will be on hand. Call 910/341-3237 for more information.

The Pirates are Coming

2005-07-13T06:57:00.000-07:00

Invasion of the Pirates Flotilla

On Saturday October 1, 2005, Pirates will be invading the city of Wilmington, NC.

Sponsored by Wilmington Harbor Enhancement Trust this lighted boat parade will start around 7:30 pm, cruise past the historic downtown water front and end with a fireworks show. Flotilla participants will be provided free overnight dockage and a party afterwards. More information will be available on the website www.wilmington-docks.com A registration form and contact information is available on the website.

Come join us for a hearty good time.

Water Street Center Merchant of the Month

2005-07-02T07:09:00.000-07:00

July Merchant of the Month

Vintage Photo Studio, located at 106 N Water Street, Suite 109, Wilmington, NC in the Water Street Center has been taking photos and creating fun memories for over a year. Kate Morrey, owner, has a unique flair for costuming and making each photo session a memorable occasion.

New Listing in Sunset Park

2005-06-21T09:11:00.000-07:00

2037 Burnett Blvd, Sunset Park

Great investment opportunity in desirable Sunset Park. Offered at $99,000, this 2 bedroom, one bath home has central heat and air and hardwood floors. MLS 348315. Contact me for a showing. Click here for more details 07/20/05 - This listing is now under contract

Head of The Cape Fear Regatta

2005-06-06T12:26:00.000-07:00

Regatta in Wilmington

Coming in October, 2005 is the 2nd Head of The Cape Fear Regatta. Hosted by the University of North Carolina at Wilmington Crew Club in conjunction with the Cape Fear River Rowing Club. This event will happen in Historic Downtown Wilmington, NC.

More information is on their website.

Convention Center on Track

2005-06-02T06:03:00.000-07:00

Wilmington, NC -

The New Hanover County Tourism Development Authority on Tuesday evening voted 10-4 to allow the city to access the hotel-tax proceeds that officials say will pay Wilmington’s portion of the convention center project.

The latest estimate on the city’s construction cost – which includes the convention center, an attached parking garage and some site improvements – is about $50 million. That doesn’t including financing costs, which bring the total to about $60 million. The price tag could grow or decrease as architects design the building over the next few months.

The TDA will continue collecting the 3 percent tax on lodging stays in Wilmington, which it began receiving in March 2003. It will now disperse the revenue to the city on a regular basis. By the end of this month, the account would have nearly $3.5 million, city officials estimate.

Source: Patrick Gannon, Wilmington Star News.

More on this exciting project to come.

Welcome Back

2005-05-29T10:14:00.000-07:00

Welcome Home USCG Diligence

Thanks Bill!

2005-05-29T09:37:00.000-07:00

On this Memorial Day Weekend we remember those who have served and are serving our country. One man, Commander Bill Davidson, is a past client who has become a real friend. Originally from Little Field, TX, Bill and his wife Terri now call Wilmington,NC home. Below is a report from the field. Thanks Bill. Click for link to Detachment Homepage

Commander Bill Davidson

CAMP TAQADDUM, Iraq(May 24, 2005) -- One doctor of dental surgery and two petty officers traveled to Habbaniyah May 20 and 21 to perform humanitarian assistance dental surgery to Iraqi Intervention Force soldiers.

The soldiers had reported to their sick call and complained of pain in their mouths. The Sailors from Headquarters and Service Battalion, 2d Force Service Support Group (Forward) were dispatched to relieve the pain.

"This was a humanitarian assistance operation in support of [the Iraqi Intervention Force] to relieve pain," said Cmdr. William Davidson, doctor of dental surgery and dental platoon commander. "We came here at the request of the Marines training these soldiers."

Click for the full story

Water Street Center Featured Merchant

2005-05-28T08:05:00.000-07:00

Water Street Center, 106 N Water Street, Wilmington, NC is the home of a collection of unique shops and services. R&D Designs, Suite 102, has called Water Street Center home for 2 years. They feature custom embroidery, boat flags, jewelry and much, much more. Ron & Debbie Stuber are the team behind the business. Check out their new website.

Tell them Paul sent you!

Hot Real Estate Market

2005-05-17T14:23:00.000-07:00

The Wilmington Regional Association of REALTORS(r) Economic and Market Watch Report has just been released for the 1st Quarter of 2005.

"Home sales continue to leave a scorched path in the first quarter of 2005. Coming off a record 2004, sales are enduring at a strong pace." reports Ken Fears, economist for NAR.

Lawrence Yun, Senior Research Forecaster for NAR has good news for the Wilmington region, too.

"The local job market has clearly turned for the better in recent months. Nearly 7,000 net new jobs have been added to the local economy in the past 12 months. The local housing market conditions have been much more impressive. The first quarter sales were 49.6% higher than the same quarter a year ago, after having increased 46% in all of 2004. The strong demand for housing has continued to push up home prices. The average price of $227,300 is 12.1% higher than what it was a year ago. "

The report summarizes and forecasts real estate growth for the Wilmington, NC region, including New Hanover, Brunswick and Pender counties. The report is based on single family homes sales.

For a complete copy of the report, please contact me

Summer Vacation

2005-05-08T11:47:00.000-07:00

Planning your summer vacation? Consider the NC coast. Miles of beaches and tons of attractions (historic and otherwise). Visit my company's website at www.NetworkWilmington.com for an online vacation planner. We handle many condos and vacation homes on Pleasure Island (Carolina & Kure Beaches).

By the way, summer is more than 3 months here! May through October are usually warm and sunny.

It's a beautiful day on the Cape Fear Cost. For events, checkout out the Visitor's Center.

Visit my website for an online MLS search if you are looking for a vacation home.

Regards,
Paul Sullins
Network Real Estate
Wilmington, NC

2 Bedroom Condo Downtown

2005-05-04T08:01:00.000-07:00

Located in the heart of the Central Business District of historic downtown Wilmington, NC, this 2 bedroom condo is just 1 block from the Cape Fear River. Just renovated and upscaled, features include hardwood floors, skylights, stainless steel appliances in the kitchen, new central HVAC system and much more. Listed for $329,500. Click here for more details and photos

Contact me for more infomation or to schedule a showing.

Future Downtown Development

2005-05-02T13:59:00.000-07:00

Developer Gene Merritt has the Wachovia Bank property in the 100 block of North Front Street under contract and hopes to close within six months. He also closed late last week on the purchase of the Water Street property where the old city parking deck is located.

Combined, the properties would give PB&G Partners a swath of land from Front to Water streets and from Grace Street to Princess Street for the venture.“All of this would be tied into one big development,” Mr. Merritt said, conservatively estimating the cost of the development at $100 million to $150 million.

Mr. Merritt hopes to complete a master plan within a couple of months. He envisions that the development would include a new parking deck to replace the old one on Water Street, about 200 condominiums, an 80-room inn, a 100- to 125-room hotel and a small amount of retail and office space.

Housing Sales up in March

2005-05-01T14:03:00.000-07:00

Southeastern North Carolina. Brunswick and New Hanover counties are experiencing no letup in housing demand. According to the N.C. Association of Realtors, housing sales were up 23 percent in Brunswick County in March.

New Hanover County saw an even more impressive 36 percent gain.

3 Supercenter Wal-Marts and counting

2005-04-21T13:42:00.000-07:00

The nation’s largest retailer made it official Wednesday: Wal-Mart is dropping roots in northeast Brunswick County, just across the Cape Fear River from Wilmington. A new sign states that the Westgate mixed-use complex in Leland will be the home of a new Supercenter, opening October 2006.

A 4th center is proposed in the Ogden area.

Soccer in the River City

2005-04-15T12:44:00.000-07:00

Veteran's Cup – June 21-26. The North Carolina Adult Soccer Association and Cape Fear Soccer Association are very excited to announce a two-year agreement with the United States Adult Soccer Association to host the prestigious 2005 and 2006 USASA Veteran’s Cup soccer tournament in Wilmington, N.C. The 2005 tournament will take place at Veteran's Park off 421 South from June 21 - 26. The 2005 tournament will include 100 teams from across the United States and even Japan. The five-day event is expected to bring more than 3,000 players and family members to the Port City and infuse $7.5 million into the local economy this year alone.

Cucalorus Film Festival

2005-03-28T09:37:00.000-08:00

Wilmington, NC - The 11th Annual Cucalorus Film Festival (March 30-April 3) is a five-day showcase of independent film. Dubbed “the best kept secret on the indy-fest circuit,” by MovieMaker magazine, the festival brings shorts, documentaries and features to Wilmington audiences. Get a glimpse into the exciting and eclectic art of filmmaking with this event that attracts works and audiences from all over the world, offering a healthy dose of southern hospitality, screenings, panel discussions, and social events held at various venues in Downtown Wilmington. Admission charge. For festival passes, schedules and more information, please call the Cucalorus Film Foundation at 910-343-5995; www.cucalorus.org

Always something going on in Wilmington.

Men's Journal Ranks Wilmington NC

2005-03-26T07:39:00.000-08:00

Wilmington NC is a great place to live and the folks at Men’s Journal magazine concur.

In its April issue, the publication ranks the Port City 27th on its list of the “50 Best Places to Live” in the United States.The accompanying blurb asserts Wilmington’s climate is “never too hot or cold, thanks to the Atlantic” and that the city gets 54 inches of rain and 219 days of sun a year.The brief write-up also refers to the area’s “uncrowded beaches and easy river access” and says those amenities “have pushed up home prices in Michael Jordan’s hometown.”

The full story is in the Wilmington Star News

The Men's Journal Top 50

Market Stats

2005-03-15T12:01:00.000-08:00

Wilmington, NC - From the 2004 Q4 stats complied by NAR for the MLS of Wilmington, New Hanover County is in a strong seller's market. Average single family home prices increased 8.95% over the Q3 numbers. The number of home sales decreased from Q3 to Q4, partly due to seasonal factors and decling home inventory. For a copy of the complete report, send an email to paul@paulsullins.com and I will be happy to forward the report to you.

Will it Happen??????

2005-03-11T13:59:00.000-08:00

Wilmington, NC - $283,000 is the list price for a 1 bedroom condo on the river in historic downtown Wilmington! Will it happen, who knows? The bonus is that the place comes with a parking space. Data and details to follow. This will set the bar.

Condo Fenzy Downtown

2005-03-10T13:58:00.000-08:00

Wilmington, NC - 2 years ago, condo sales in the downtown market were languishing. Water Street Center saw only 4 resales in 2003. Turn the corner to 2004 and 35 resold. Now, in 2005, the $200,000 price barrier was broken and no units are available. A 1 bedroom, riverfront condo is about to hit the market in the upper $200,000's. Will the market support this? Will the frenzy continue? Stay tuned.