Tag Archives: wilmington

Happy Holidays!

happy-holidays

Happy Holidays from your friends and family here at Alpha Mortgage! Can you believe it is almost 2017? As we reflect on this past year, we have seen a lot of changes. One thing however has stayed constant- our incredible clients in the Wilmington, Jacksonville, Fayetteville, New Bern, Greensboro, and Cary area. We are so proud to serve you in this great state of North Carolina, and look forward to another year of helping turn your home dreams into reality.

If you will be on the coast this holiday season, be sure to join in on the fun! Check out these last minute activities to take part in before the new year in Wilmington:

UNCW Men’s Basketball vs. East Carolina     

December 20, 2016
6:30 PM

The UNCW men’s basketball team (record: 10-1) tips off against East Carolina (7-4) in a non-conference game at Trask Coliseum in Wilmington. The Seahawks are 7th in the country in points per game with 89.6. Kids under 16 get in for $10.

Nights of Lights 

December 19, 2016 to December 20, 2016
4:00 PM to 7:00 PM

Bellamy Mansion Museum in downtown Wilmington, NC, presents Nights of Lights, a chance to view the historic property decorated for the Christmas season.

Holiday Lights Trolley Tour

December 15, 2016 to December 23, 2016

The Wilmington Tolley Company offers Holiday Lights Trolley Tours in historic downtown Wilmington, NC, at 6 and 7:30pm featuring music and narration in an enclosed and heated environment, and a great view of illuminated neighborhoods. Boarding at 101 Water Street.

Holiday Lights Cruise 

December 23, 2016
6:30 PM to 7:30 PM

Wilmington Water Tours presents a Holiday Lights Cruise, a chance to see the waterfront come alive in the holiday spirit.

Holiday Wine Tasting & Charcuterie Demo

December 21, 2016
4:00 PM

Tidal Creek Co-op in Wilmington, NC, presents a Holiday Wine Tasting & Charcuterie Demo featuring a selection of our wines just in time for the holiday weekend, and a sampling local meat, cheese, and other accoutrements to create a charcuterie platter.

Christmas Caroling with Santa and His Reindeer

December 16, 2016 to December 24, 2016
6:00 PM to 10:00 PM

Horsedrawn Tours in downtown Wilmington, NC, presents Christmas Caroling with Santa and His Special “Reindeer.” Free candy canes for the kids.

We hope you all enjoy this holiday season with your friends, family, and loved ones. On behalf of all of us at Alpha Mortgage, we wish you all a safe and a happy end to 2016. Let’s make 2017 the best year yet!

August Update

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One of the hottest months of the year in Wilmington, NC is almost over, but the housing market is still on fire! According to recent NC Regional MLS statistics, home sales in New Hanover, Brunswick, and Pender counties combined have seen an 18% increase in home sales compared to last July’s home sales, and the median price of homes dropped about 3%. Similarly, Fannie Mae recently announced that it will maintain it’s forecast for 2016’s GDP at the same 1.8 percent forecasted in July after the second quarter growth was more than 1 point lower than predicted. So why didn’t America hit the predicted mark? According to the source, there was slowed growth in residential, non-residential, government and inventory investment in August. Fannie Mae is confident that August and September’s results will be different.

Now Trending: Roof Decks 

What is one of the most popular trends we’ve seen this summer with real estate development? Rooftop decks in urban areas. As demand for rentals rises and space for outdoor yards decreases in more heavily populated areas, roof decks have become a very popular and sought out addition for renters and those searching for their next purchase. Not only do they provide tenants with a private area to enjoy the sunshine, but they are also usually combined with luxurious amenities like pools, incredible views, fire pits, grills, and most importantly of all- fresh air that many millennials look for when searching for a space to inhabit. So what’s to come with this trend? Expect it to stay for a while. We predict that rooftop decks will become even more popular and expected in urban areas. We also predict to see the trend start popping up in areas that have landscaping for added value.

8 Reasons to Move to Wilmington, NC

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There’s never been a better time to relocate to ILM and its surrounding beaches. Between the bustling downtown river walk scene, the breathtaking beaches, the strong and connected community, as well as and the incredible year-round climate – Wilmington and its surrounding beaches welcomes and has something to offer everyone. What are your reasons to relocate?

  • Beaches- Once you visit North Carolina’s coast, your life is changed forever. Wrightsville Beach, Carolina Beach, Kure Beach, and beaches surrounding Wilmington, NC all offer spectacular views of the Atlantic paired with relaxed southern feel that makes anyone feel at home.
  • Downtown- The bustling downtown scene provides Wilmingtonians with a taste of the city life, with incredible shopping, dining, and nightlife opportunities for people of all ages to enjoy. Take this and combine it with downtown Wilmington’s rich history and landmarks, and you are armed with activities to partake in for years!
  • Community – Wilmington is home to both Cape Fear Community College and UNCW which gives locals opportunity to support the colleges in activities like Midnight madness, cheering on sports teams, and more! The tight-knit Wilmington community also provides many festivals downtown during the year, houses incredible music talent at spectacular venues like Greenfield Lake Amphitheater, and Azalea Fest itself is a great look into Wilmington’s amazing community!
  • Incredible Shopping + Dining- From shopping centers, to one-of-a kind boutiques, Wilmington is an amazing shopping hub for the south east. Whether you are strolling down shops in The Forum, browsing at boutiques downtown, or hitting up one of the local surf shops, ILM loves fashion. Another thing that Wilmington loves is great dining. Fresh seafood and breathtaking views make Wilmington a desirable place for any restaurant to open, but Wilmington houses some of the best restaurants in the state.
  • Proximity- Wilmington is close enough to bigger NC cities like Raleigh and Charlotte for an easy weekend trip, and just far enough to provide the perfect getaway from your friends. When you live in Wilmington, you’re never too far for friends and family to visit! (And once you move to the beach, they’ll want to visit all of the time!)
  • Furry Friends are always welcome- Wilmington loves your four-legged friends! From the loop at Wrightsville Beach, to the many dog parks in the city, your pets are an extension of your family in Wilmington and are even welcomed at many outdoor restaurants! Bring your pup on the dog-friendly beaches, or Java Dog Coffee shop downtown- ILM knows your pets should enjoy the beautiful city as much as you do!
  • Healthy Lifestyle- Wilmington loves being active. From stand up paddle boarding, or running clubs, to yoga on the pier, and everything in between, Wilmington loves supporting healthy and active lifestyles that take advantage of the amazing climate and views the town and surrounding beaches provide.
  • Home Affordability – Not only does Wilmington and its surrounding beaches have a steady real estate market, but the options are endless. Wilmington has high-end homes and communities as well as more affordable options that are still in incredible locations.

Your dream house is waiting for you in Wilmington, NC, and once you find it, Alpha Mortgage  will help you turn your dream house into a reality! Contact us today!

Mortgage Market Update

The employment picture got a little clearer this morning after the Labor Department reported that there were 192,000 new jobs created in March, which was just below the 195,000 that was expected. The harsh winter weather kept job creations low in December, January and early February averaging 144,000 per month. Now that spring is in the air, employers may begin to ramp up hiring efforts.

The March Jobs Report also revealed that the Unemployment Rate held steady at 6.7% as more people tried to enter the labor force. The Labor Force Participation Rate (LFPR), which measures the proportion of working-age Americans who have a job or are looking for one, rose to 63.2% from 63.%. The report said that every industry except manufacturing added jobs.

With the spring home buying season upon us, the market is seeing too few people are selling homes, and too few buyers can afford the homes that are for sale. In addition, higher home prices and all cash buyers are squeezing first time home buyers. The one bright point in the equation – lenders are easing the tight money lending standards that have been seen in the past few years as qualifying for a home loan could get a little easier.

Mortgage Market Update – 03-28-14

Americans’ attitudes towards the economy fell to lows not seen since November as higher heating and gasoline costs put a strain on household budgets. The March Consumer Confidence Index came in at 80.0, which was inline with estimates and the February reading. Economic data in 2014 has been a bit disappointing, but the harsh winter weather could have been the reason. As spring blooms, consumers will be looking for signs of more positive economic data, which would confirm that the weather had a big impact on the early year tepid economic numbers.

Consumer spending rose by the most in three months in February on services such as health care and utilities. Personal Spending rose by 0.3% last month, which was inline with estimates. Personal Income also rose by 0.3% last month, which also matched estimates. Within the data it showed that the personal savings rate edged up to a four month high of 4.3% from 4.2% in January. In addition, inflation remained tame as evidenced by a 0.1% rate in the Core Personal Consumption Expenditure, the Federal Reserves favored gauge for inflation.

In an effort to brew up some business, fast food giant McDonald’s will be offering free small cups of coffee at no charge during breakfast hours from March 31 through April 13. The world’s largest restaurant chain is rolling out the campaign for the first time to lure in new customers and to get existing customers to come in more frequently. The company is figuring that it’s likely that those stopping in for the free coffee will purchase a breakfast sandwich or other items.

Mortgage Market Update 03-11-14

As the spring and summer driving seasons near, one thing is for certain – higher gas prices at the pump. The national average price for a regular gallon of gasoline is $3.48, up from $3.28 a month ago as prices have increased 28 straight days. AAA predicts that prices will rise an additional 10 to 20 cents this spring and could rise more if the tensions in the Ukraine ramps up. Russia is the third largest oil producing country behind Saudi Arabia and the U.S. and any disruptions could cause oil prices to increase.

The Bureau of Labor Statistics reported this morning that its JOLTS report, Job Openings and Labor Turnover Survey, revealed that job openings rose by 1.5% from December to January. The report may not have as much impact as the monthly Jobs Report, but it does give insight into the labor market on hires, quits, layoffs and job openings. The report is also closely watch by newly appointed Fed Chair, Janet Yellen.

Fast food chain McDonald’s reported a larger than expected decline in comparable global sales in February, once again hurt by slowing sales in the U.S. Reports from restaurants said worldwide sales for stores open at least 13 months fell by 0.3%, below the -0.1% expected. McDonald’s said that sluggish economic growth, internal missteps, rising record beef prices, along with higher labor costs, are the hurdles that are hurting sales.

Mortgage Market Guide Update

Home prices continued to rise in the period from December 2012 to December 2013, but at a lesser pace than previous year-over-year readings. CoreLogic reported today that home prices, including distressed sales, rose by 11% in the period mentioned, but that is down from the 11.8% gain seen from November 2012 to November 2013. In addition, prices declined month-to-month by 0.1% from November to December.

Richmond Virginia Fed President Jeffrey Lacker reported today that U.S. growth could be muted in 2014, but the Federal Reserve will continue to taper its massive stimulus program, dubbed Quantitative Easing III. Mr.Lacker cited declining spending by both consumers and businesses. The Fed official went on to say he feels the growth will be closer to 2% in 2014, about the same rate that the country has seen since the end of the Great Recession.

Stock prices are rebounding today after yesterday’s steep plunge, which was touched off by a weaker than expected reading from a national manufacturing report, the ISM Index. The S&P 500 had recently lost nearly 6% from its record closing highs hit in late December and mid-January. The declines have come from profit taking, Fed tapering, a slowdown in China and on the notion that a small correction was due after the record levels recently hit.

Mortgage Market Update

The top spot at the Federal Reserve Bank of the U.S. switches to former Vice Chair Janet Yellen from outgoing Chief Ben Bernanke today. Ms. Yellen is the first woman to be the Chairperson in its 100-year history and will guide the nation through the post recession era of the U.S. economy.

In economic news, the January ISM Manufacturing Index was released this morning and came in lower that expectations at 51.3 versus the 56.0 expected to the slowest pace in 10-months. Within the report it showed that the new orders component fell 13.2 points to 51.2, also the lowest since May. The hiring gauge fell by 3.5 points to 52.3. The decline was due in part to unusually poor weather in January.

The big economic report due for release this week is the January Jobs report, which consists of Non-farm Payrolls and the Unemployment Rate. Payrolls are expected to rise by 175,000, after the weak reading in December of only 74,000 jobs created. The Unemployment Rate is expected is expected to drop to 6.5% from 6.7%. The report will be released Friday at 8:30am ET.

4th of July Action, Happy 4th to All!

If you are in the Cape Fear/Wilmington, N.C. or Southport area for the Fourth of July festivities, there is plenty for you to choose from.  Here are a few events you can enjoy during the holiday.

Wednesday, July 3rd

Pleasure Island Fireworks,

Where: Pleasure Island (Carolina Beach, Kure Beach)

When: Their biggest extravaganza of the Summer begins at 9 pm

Additional Info: Live Music at the Gazebo with Dutch Treet starting at 6:30 to 9:30pm

You can find more information by visiting PleasureIslandNC.org/Fireworks-by-the-Sea

Wilmington Sharks

Baseball Post Game Fireworks

Where: Legion Stadium (2149 Carolina Beach Rd)

Game time: First pitch vs. Edenton is at 7:05 p.m.

Additional Info: The Sharks will be serving $1 beers in their Beer Garden and $1 domestics throughout the park. The 4th of July is also Moe’s Night, and their first 100 fans will receive a free Moe’s Southwest Grill drink koozie.

Have a question for The Sharks? Call their office at 910-343-5621 or visit

WilmingtonSharks.com

 

 Thursday, July 4th

 4th of July Riverfront Celebration

Where: Downtown Wilmington along Water St.

Food and Entertainment begins at 5:00 pm and will last until 9:00 pm

Fireworks begins at 9:05 pm

Music provided by Heart & Soul in Riverfront Park

Live television coverage of the fireworks begins at 9:00 pm on WECT

Click here for printable map with parking and exit information

Wilmington Children’s Museum

Fourth of July Celebration – 5 pm – 8 pm

Where: 116 Orange Street, Wilmington

Time: 5-8pm

What is happening: Order dinner or pack a picnic and enjoy fun activities!

Air Rocket Challenge, Sharpie Fireworks, Sound Sandwich noisemakers

6pm, 7pm: Soda Explosions

They would like to show their appreciation to our military for all they do so all day they are offering 1/2 off admission for immediate family of military personnel who show their ID.

More info: PlayWilmington.org

North Carolina Fourth of July Festival

Where: Southport, N.C.

When: June 30th – July 4th

Fireworks on the 4th – 9pm

What is happening: Over 100 handmade arts and crafts on display,

Main Stage Entertainment – best beach, top 40’s and country bands each evening, Patriotic parade representing main street USA and televised on WECT TV6 ,

A Naturalization Ceremony,

Veterans Recognition – ceremony honoring the sacrifices of our armed service personnel who have served and paid for our freedom,

Beach Day – highlighting the activities popular at Southport’s neighboring beach community Oak Island – volleyball and shag contests included.

Children’s Entertainment & Games – Old fashioned games including sack races and watermelon eating contests.

For more information visit NC4thofJuly.com

 

4th of July Golf Cart Parade, Picnic, and Pool Party

Where: Bald Head Island

When: 11 am

Bald Head Island Fireworks Cruise – 8 pm

For more info visit BaldHeadIsland.com/Events

VA Loans

In 1944, near the end of the second World War, President Franklin D. Roosevelt enacted the Servicemen’s Readjustment Act.  This is what we know today as the GI Bill of Rights.  This act provided veterans with a federally guaranteed home with no down payment.  For millions of veterans, this gave them and their families an opportunity to realize the family dream of home ownership.

The loans are guaranteed by private lenders which include banks and mortgage companies.  As long as the veteran is eligible to purchase the home, which is required to be for their own personal occupancy, the lender is protected against a loss if the loan is not repaid.  This is why no down payment is required and the veteran and his or her family can obtain very favorable financing terms.

If you are a veteran and you want to apply for a VA Loan, what is your next step?  The answer is to follow the normal steps of home buying and that is to get preapproved from a mortgage lender such as Alpha Mortgage.  We will help determine your credit rating, your income to debt ratio and go through the process of helping you understand what your monthly costs might be.  This will give you a solid understanding of what you can afford.  Once we have determined what you are preapproved for, we will have a clearer understanding of how much you will need from your VA Loan.  The maximum guarantee authorized by the VA is 25 percent of the loan amount up to $104,250 and the maximum VA home loan is $417,000.  If you are looking to refinance, a VA Loan can help with that as well.  Be sure to ask your Alpha Mortgage broker about the Streamline Refinancing Program.  If you qualify you may be able to refinance at little or no expense.

Here in eastern North Carolina we are extremely lucky to be surrounded by so many of our nations finest soldiers who never hesitate to put their life on the line to protect ours.  Our appreciation for the men and women of this country runs deep and at Alpha Mortgage we will work as hard as we can to make sure any military family can realize their dream of home ownership.  Whether you are a member of Pope A.F.B., Seymour Johnson A.F.B., Fort Bragg, Air Station Elizabeth City, National Strike Force, Camp Lejeune, MCAS Cherry Point, or MCAS New River you may qualify for a VA Loan and we will help make the process as simple and easy as possible.

We have offices in your area that can help you when you are ready.  Our Wilmington office is 910-256-8999, our Fayetteville office is 910-484-7272, our Jacksonville office is 910-347-7283, and our New Bern office is 252-634-3000.  We look forward to hearing from you and while words cannot truly express our gratitude, thank you so much for your service and dedication to our country.