Steve Sherron-Builder Holden Beach, NC

 

Are there some things that you try real hard at but just continue to suck? Do you ever think so much of yourself that you feel you can master everything you attempt?

 

 

Being a NC Realtor at the coast in Holden Beach, NC has it's advantages. Some days you get to go and show a beautiful oceanfront beach home. For lunch, I can grab a sandwich, a lawn chair and go sit on the beach with my iPod. It's a great way to clear your head. Every now and then, I get invited for an afternoon of fishing. There was a quote I once heard,

"Even a fish could stay out of trouble if it would just learn to keep its mouth shut".

It took me a while but I finally understand the quote. I used to tell people that I was a fisherman. I actually used to believe it when I heard myself say those words. It only takes one afternoon of fishing with me and you will realize that I suck when it comes to fishing.

 

Imagine this... You get invited to got out for an afternoon with a Pro Fishing Guide. You accept the invitation with a warning that you are a horrible fisherman because you feel other people have a right to know. It's sort of like I should come with my own warning sticker. This Pro Guide took me to places where it looked like the fish would jump into your boat by themselves while you get a tan. He took me to his double top secret fishing holes that looked like front covers of Saltwater Fishing magazine. I was simply amazed that these places existed on our beautiful Carolina Coast. At one point, my guide was able to anchor up to a spot that he has never been able to anchor to in all his days of fishing due to the strong currents that were always present. He got excited like a small child on this day and told me to get ready, things were about to heat up because we were now at a once forbidden spot he had longed to fish from for as long as he could remember.  

 

The only anchor my guide carried on his boat that day was me. Nothing. Zero. Nada. No fish that day. I actually thought I had a few bites that day because I am an optimist. I still believe that I had a few bites. No way it was snags on the bottom.

 

 

 

 

We are talking the ocean here. There are fish in the ocean aren't there? I know there are because I go to seafood restaurants on a regular basis and they have fish. Where did they come from?

 

 

The National Center for Fisherman Who Suck report that 9 out of 10 people who go fishing, accidentally catch at least one fish per outing. So much for those statistics. I guess they forgot to interview me or I am the guy at the #10 spot.

 

                                      

 

 

Together, we can accomplish great things. If you are a buyer, seller or an investor you need a plan. I'm here to help. Please click my "Plan of Action" logo. I have customized an online form just for you. You can tell me exactly what you are looking for or seeking to accomplish. Once you submit the form, together, we will create a highly specific plan to help you achieve your real estate goals based on your criteria. This is just another excellent client service you can expect from Steve Sherron, the Brunswick Broker.

Lately, I have received several calls from distressed investors who are in a world of hurt. They are reaching out to anyone for any help of any kind. I listen, I sympathize and I console but for many I just don't have an answer for what they have gotten themselves into. It's very sad and some of these folks are heading into financial ruin. So many of these folks made real estate decisions during the 2004-2006 that looked like instant money back then. It's proving to be disastrous in 2008. Most all of the problems that I see deal with land deals in huge subdivisions.

If you are an investor or if you are considering becoming a real estate investor, here are some guidelines and points to ponder before you step into the deal of the century. 

You live 800 miles away from a fantastic new subdivision being built in another state and one day you receive a very attractive brochure in the mailbox. It looks fantastic and if you visit, you get a free stay and meals for the weekend. Heck, if you register and pre-qualify they will fly you in for free also. Time for you and your honey to take a free mini-vacation.

No payments for 2 years. Sounds great doesn't it? You can buy a piece of property in a fantastic new subdivision with every amenity imaginable and you won't make any payments for 2 years. You have stumbled upon such a great deal that you may even buy 2 pieces of property. You may even tell your friends and encourage them to take a mini-vacation all expenses paid. 

You are now the proud owner of a fantastic wooded corner lot in the most fantastic subdivision in the entire county. You are not going to make any payments for 2 years. Are you going to live there eventually? Heck no, you are going to flip that lot at the end of the 2 years and make a ton without hardly any money coming out of your pocket.

 

Let's fast forward. The 2 years are coming to an end and you receive notice that you are to assume the payments. Ouch! That's a lot of money getting ready to come out of your monthly budget. No problem, it's all part of your plan. Time to cash in... Ka-Ching. What do you do now? You call me of course because you found me on Active Rain. You are 800 miles away and for 2 years you didn't establish a working relationship with a local agent who has his finger on the pulse of the local market. You are not really sure what's been happening on the local scene. 

 

You explain that you are ready to list your lot. You bought this fantastic piece of property 2 years ago for $225,000 and the payments are coming due. You can't really afford the payments because the economy has hit your family pretty hard also. It's time to sell and take your profits. 

 

Here is the hard part. I have to inform this investor that there are 127 other lots for sale in the same subdivision. There have only been 4 lot sales in the last 6 months and the average sale price is $91,500. There have been 40 expired listings. Out of the 127 lots for sale, the average listing price is $147,500. Average days on market is 412 days. There is dead silence on the other end.

 

I get a call 3 weeks later from the same investor just to inform me that they had an appraisal done on the lot in an effort to re-finance and cut their monthly payment. The appraisal comes back at $115,000. The bank will not refinance. It's very sad. You are powerless to help. All you can do is to lend a sympathetic ear and just let them vent. For some it means financial ruin. 

As an investor, you must keep in mind Economics 101. Supply and Demand. These investors bought into the same deal as 400 other investors at the same time. At the end of the 2 years no payments, you find yourself competing with at least 200 other investors who has the same thing in mind as you. Flip it and make a profit. A few of those other investors get desperate and fire sale their property, it kills the comps for the entire subdivision. Buyers who do have their finger on the pulse of the local market see this and stay away. All of a sudden you have a worthless property in your portfolio.  

I have had this scenario presented to me at least 5 times in the last 2 months. If you deal with properties out of your area, find and make friends with a local expert first. Become a partner with a local agent who will advise you and help you. The local agent can help you avoid pitfalls such as this. We want to be your partner for life and help you make smart decisions.

 

 

Together, we can accomplish great things. If you are a buyer, seller or an investor you need a plan. I'm here to help. Please click my "Plan of Action" logo. I have customized an online form just for you. You can tell me exactly what you are looking for or seeking to accomplish. Once you submit the form, together, we will create a highly specific plan to help you achieve your real estate goals based on your criteria. This is just another excellent client service you can expect from Steve Sherron, the Brunswick Broker.

 

September is one of the best fishing months of the year for the North Carolina Coast. When the weather and the water temps start to cool, the fish start to bite. Brunswick County is a sportsman's and a fisherman's paradise. In Southport, NC. we have 3 bodies of water converging. The Atlantic Ocean, The Cape Fear River and the Intracoastal Waterway creating fantastic inshore saltwater fishing. All of the areas south, which include Oak Island, Holden Beach, Ocean Isle and Sunset Beach are hotspots of some of the finest inshore fishing on the east coast. This weeks weekly sales report for Brunswick County, NC is dedicated to the popular inshore fish of the Carolina's.

Together, we can accomplish great things. If you are a buyer, seller or an investor you need a plan. I'm here to help. Please click my "Plan of Action" logo. I have customized an online form just for you. You can tell me exactly what you are looking for or seeking to accomplish. Once you submit the form, together, we will create a highly specific plan to help you achieve your real estate goals based on your criteria. This is just another excellent client service you can expect from Steve Sherron, the Brunswick Broker.

Are meaningless distractions affecting you in a negative way? It's a constant struggle for me to stay focused on what's really important when there are so many distractions. What about you? I think it's that way for everyone regardless of the work you do. Too many times my day runs out and I haven't accomplished what I wanted to do that day. 

Common distractions:

• I get an e-mail with a link. I click it, then I click again and again, next thing you know I've wasted 20 minutes on stupid stuff on the internet.
• A phone call. If possible, I answer every call that comes in. I answer requests and it takes time. Not all of the calls I receive are important but I give them all attention. 
• Someone walks into my office. I completely drop everything I'm doing. I push myself away from my desk and I try to give this person my undivided attention for ever how long it takes. I think it's just common courtesy. Next thing you know, I've just had a conversation about how Miracle Grow can make tomato's huge, that has nothing to do with the bottom line.
• I can't say no. As hard as I try, I can hardly utter the word to the folks in my office. I like them all very much. I have a truck, a toolbox in the back and I enjoy helping them, even if I'm in the middle of writing a listing or doing business for a client I promised that day. 
  

Together, we can accomplish great things. If you are a buyer, seller or an investor you need a plan. I'm here to help. Please click my "Plan of Action" logo. I have customized an online form just for you. You can tell me exactly what you are looking for or seeking to accomplish. Once you submit the form, together, we will create a highly specific plan to help you achieve your real estate goals based on your criteria. This is just another excellent client service you can expect from Steve Sherron, the Brunswick Broker.

This was a slow week for sales in Brunswick County, NC. There were probably a couple of outside factors that contributed to this. #1 was the fact that Tropical Storm Hanna was bearing down on us. The other was it was the week after Labor Day. I posted a Pre-Hanna video as we were all concerned but didn't feel it would be too bad. Luckily it wasn't. I slept through most of it but the house was rockin a few times in the middle of the night. We lost power in the early morning hours and my hurricane strength ceiling fan quit. Man, I hated that. No fresh hot coffee that morning either.

Together, we can accomplish great things. If you are a buyer, seller or an investor you need a plan. I'm here to help. Please click my "Plan of Action" logo. I have customized an online form just for you. You can tell me exactly what you are looking for or seeking to accomplish. Once you submit the form, together, we will create a highly specific plan to help you achieve your real estate goals based on your criteria. This is just another excellent client service you can expect from Steve Sherron, the Brunswick Broker.