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Although apartment construction is under way throughout the area with more units coming, the occupancy rate for the Wilmington apartment market is still high, at 93.9 percent, according to the Real Data Apartment Index, down only slightly from a year ago.
Since the beginning of 2013 through the end of the third quarter this year, more than 2,500 units have been completed, a Multifamily Realty Advisors report released this week says.
"The twenty apartment projects (2,508 units) completed since the beginning of 2013 include two existing communities that built additional units. Of those 20 projects, seven communities with 760 units (with 2,109 beds) were purpose-built 'by-the-bed' student housing communities; three communities with 242 units were either senior housing or tax credit funded communities; and the ten remaining communities accounting for 1,506 units were market rate communities," says the report, which was compiled by Richard Cotton, a broker and managing director of Multifamily Realty Advisors.
Cotton lists 11 proposed apartment projects, including Phase II of downtown Wilmington's City Block Apartments, an addition to apartments on South Front Street, Westfall Park Apartments at 1817 Sir Tyler Drive across from Mayfaire and Beau Rivage Apartments on Beau Rivage Drive off Carolina Beach Road.
"Most of the new apartment communities are very upscale and offer amenities that you would only expect in a first-class hotel, commanding montly rents from $1.20 to $1.50 per square foot or more," Cotton's report says.
Five apartment sales, only counting those with more than 80 units, closed since the beginning of the year, amounting to a year-to-date transaction volume of $118.4 million. The apartment communities that sold and included in the report were St. Andrews Reserve, Still Meadow Village, Hunterstone, Campus Walk I and II and Egret Crossing.
The report also says 1,269 apartments in seven projects are under construction, while 1,609 have been proposed. The average apartment rental rate for the entire Wilmington market is up to $907 a month, with apartments in the 1- to 5-year age group showing the highest average rents at $1,333 per month. That's followed by apartments in lease-up that have average rents of $1,264 per month, according to the report.
Although apartment construction is under way throughout the area with more units coming, the occupancy rate for the Wilmington apartment market is still high, at 93.9 percent, according to the Real Data Apartment Index, down only slightly from a year ago. Since the beginning of 2013 through the end of the third quarter this year, more than 2,500 units have been completed, a Multifamily Realty Advisors report released this week says. "The twenty...
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The geothermal areas of Yellowstone include several geyser basins in Yellowstone National Park as well as other geothermal features such as hot springs, mud pots, and fumaroles. The number of thermal features in Yellowstone is estimated at 10,00] A study] that was completed in 2011 found that a total of 1283 geysers have erupted in Yellowstone, 465 of which are active during an average year. These are distributed among nine geyser basins, with a few geysers found in smaller thermal areas throughout the Park. The number of geysers in each geyser basin are as follows: Upper Geyser Basin (410), Midway Geyser Basin (59), Lower Geyser Basin (283), Norris Geyser Basin (193), West Thumb Geyser Basin (84), Gibbon Geyser Basin (24), Lone Star Geyser Basin (21), Shoshone Geyser Basin (107), Heart Lake Geyser Basin (69), other areas (33). Although famous large geysers like Old Faithful are part of the total, most of Yellowstone's geysers are small, erupting to only a foot or two. The hydrothermal system that supplies the geysers with hot water sits within an ancient active caldera.[3] Many of the thermal features in Yellowstone build up sinter, geyserite, or travertine deposits around and within them.
The various geyser basins are located where rainwater and snowmelt can percolate into the ground, get indirectly superheated by the underlying Yellowstone hotspot, and then erupt at the surface as geysers, hot springs, and fumaroles. Thus flat-bottomed valleys between ancient lava flows and glacial moraines are where most of the large geothermal areas are located. Smaller geothermal areas can be found where fault lines reach the surface, in places along the circular fracture zone around the caldera, and at the base of slopes that collect excess groundwater.[3] Due to the Yellowstone Plateau's high elevation the average boiling temperature at Yellowstone's geyser basins is 199 °F (93 °C). When properly confined and close to the surface it can periodically release some of the built-up pressure in eruptions of hot water and steam that can reach up to 390 feet (120 m) into the air (see Steamboat Geyser, the world’s tallest geyser).[4] Water erupting from Yellowstone's geysers is superheated above that boiling point to an average of 204 °F (95.5 °C) as it leaves the vent. The water cools significantly while airborne and is no longer scalding hot by the time it strikes the ground, nearby boardwalks, or even spectators. Because of the high temperatures of the water in the features it is important that spectators remain on the boardwalks and designated trails. Several deaths have occurred in the park as a result of falls into hot springs.
Prehistoric Native American artifacts have been found at Mammoth Hot Springs and other geothermal areas in Yellowstone. Some accounts state that the early people used hot water from the geothermal features for bathing and cooking. In the 19th century Father Pierre-Jean De Smet reported that natives he interviewed thought that geyser eruptions were "the result of combat between the infernal spirits."[5] The Lewis and Clark Expedition traveled north of the Yellowstone area in 1806. Local natives that they came upon seldom dared to enter what we now know is the caldera because of frequent loud noises that sounded like thunder and the belief that the spirits that possessed the area did not like human intrusion into their realm.[6] The first Caucasian known to travel into the caldera and see the geothermal features was John Colter, who had left the Lewis and Clark Expedition. He described what he saw as "hot spring brimstone." Beaver trapper Joseph Meek recounted in 1830 that the steam rising from the various geyser basins reminded him of smoke coming from industrial smokestacks on a cold winter morning in Pittsburgh, Pennsylvania. In the 1850s famed trapper Jim Bridger called it "the place where Hell bubbled
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Dolcissima notte a tutti ✨
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Renters in some of the most exorbitantly priced U.S. cities are beginning to get a bit of much-needed relief.
Manhattan rents have spiked to such highs that more and more landlords are throwing in major perks—like, say, a free month—to keep tenants from fleeing to cheaper neighborhoods in the wilds of Brooklyn, Queens, or (God forbid) Staten Island. Meanwhile, a flurry of new construction in downtown Denver has pitted property owners against one another as they compete for choosier residents.
About 16.4% of January’s Manhattan rental transactions included some sort of concession, aka freebie, to lure in tenants—up from just 8.5% a year earlier, according to the monthly Elliman report. That was due, in large part, to median monthly rents in the Big Apple hitting a paycheck-demolishing $3,350 last month. (It was a still-bruising $3,299 a month a year earlier.)
“The market has just gotten extraordinarily expensive,” says Gary Malin, president of New York City real estate brokerage Citi Habitats. “Prices have gotten out of reach for a lot of tenants.”
He’s seeing Big Apple property owners providing an ever-widening range of concessions—no-cost brokers’ fees, gym memberships, even $500 gift cards. All of them, of course, in lieu of actually lowering rents (shudder).
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Landlords will often offer more incentives in the cold, winter months when vacancy rates are higher, says Jordan Cooper, a real estate broker at Manhattan’s Cooper & Cooper Real Estate. The extras will then disappear in the spring through the fall, when new dwellers descend upon the city.
One reason for the invasion of the freebies: The vacancy rate is actually rising in the City That Never Sleeps. It hit 2.82% last month, up from 2.43% the prior year, according to the Elliman Report.
“With interest rates near all-time lows, people are taking a serious look at renting versus buying,” Cooper says—and it might make more financial sense to buy.
Denver-area landlords are also turning to concessions to fill apartments—particularly downtown, where there’s been a spate of residential construction, says Nancy Burke, vice president of government and community affairs at the Colorado Apartment Association.
About six months ago, she began to see property owners offering perks like a few weeks of free rent, as well as amenities like bicycle maintenance stations and, yes, rooftop dog runs.
Roughly 6.1% of Denver landlords were offering discounts and concessions at the end of last year—down from 7.9% as of Sept. 30, according to an Apartment Association of Metro Denver report. Meanwhile, rental vacancy rates were at 6.8% at the end of 2015, up from 5% in the prior quarter.
But the report doesn’t include many of the brand-spanking-new apartments that are being listed for the first time, says Burke. She speculates the vacancy rate is actually much higher.
Agents in other through-the-roof expensive areas, like Los Angeles and San Diego, aren’t seeing property owners offer extras, as there are no shortages of wannabe tenants.
But landlords in San Francisco, where housing prices have reached mind-boggling heights, may soon have to woo residents, as more newly constructed apartment buildings come online.
“Rents are still really high and apartments are still commanding top dollar,” says San Francisco Apartment Association spokesman Charley Goss.
However, he recently saw a new building in an up-and-coming area offer a free month’s rent to prospective tenants. Rents for one-bedroom apartments in the roughly 150-unit building range from $3,200 to $3,300.
“That was the first time we’ve seen that in years,” Goss says.
Renters in a few expensive housing markets, such as New York and Denver, are beginning to get some relief as landlords offer concessions to fill apartments.
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Cherry Blossoms and Kintai Bridge, Iwakuni, Yamaguchi, Japan
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Jasna lake - Photography by +ales krivec  www.dreamypixel.com Jasna lake with Prisojnik mountain in the background. - Ales Krivec #slovenia #mountains #lake
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Contact Information
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4002 1/2 Oleander Drive Suite 1A Wilmington, NC 28403
4002 1/2 Oleander Drive, Suite 1AUSNorth CarolinaWilmington28403
(910) 447-9495mywilmingtonrent.com
Property Management Company, Apartment Rental Agency
Property Management Company
Apartment Rental Agency
Marketing Agency
Today 9AM–5:30PM
Wednesday 9AM–5:30PMThursday 9AM–5:30PMFriday 9AM–5:30PMSaturday 10:30AM–4PMSunday 10:30AM–4PMMonday 9AM–5:30PMTuesday 9AM–5:30PM

Victory Realty revolves around a culture of passion for our brand. We are aggressive, energetic, and flexible in this changing landscape. We take large deposits, have the best tenant quality in the business, and still rent our homes significantly faster than our competitors. 9 Years in business and we’ve only evicted four tenants that we chose, because we have a great system. Many old style management firms survive as a result of their sheer size.  However, with offices in coastal Wilmington, and  the Triangle /Raleigh -Cary Areas, Victory was built from the ground up, during the worst housing crisis since the 1930’s.

VRE Thrives on a love of the current technology revolution.  For this reason we have stayed well ahead of our competitors in all aspects of rental management from marketing to owner/client communication.  Originating from, and still to this day operating as a commercial marketing firm for multiple companies in and outside the real estate industry, Victory has an inside track on how people use the web day to day.  Rental searches are almost exclusively done online these days, and understanding that constantly changing landscape is every bit of half the success battle.

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"I highly recommend Victory Property Management when renting homes in Wilmington."
"In that time, I have experienced nothing but quality customer service."
"I highly recommend using Victory Realty for any rental property."
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Mary Ann Kannan
a week ago
I have been very happy with Victory Property Management. They manage my home in Wilmington which is really comforting since I don't live in town. Jamie and the rest of the staff are always willing to assist me with any concerns. I also appreciate the fact that they always contact me before any decisions are made on work at the townhouse. I would suggest them to anyone looking for assistance in rentals or home management.
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Nicholas Rosenthal
3 months ago
My wife and I have had Victory managing our house in Wilmington for nearly 5 years now, and we wanted to drop a line to say how extremely happy we have been with their service. Everyone in the office is always gung ho and quick to jump on things. We recently had a pipe burst and it flooded the house. While we were scared to death at first, we were really impressed with how well Victory handled the whole thing. It seemed like everyone in the company was involved in getting us back up and running again. They explained that despite an awful lot of damage, insurance usually covers nearly everything. Then they helped to make that a reality. They really went over and above to say the least, and got great results too. While we had been happy all along, things went so smoothly we didn't give much thought to why. When the flood occurred, we thought we had finally hit that point so many others tell us about where a rental becomes a total nightmare, but it wasn't! Not even close. We were going to sell soon, but with very little effort or stress and pretty decent monthly income, we've decided we're just going to leave it on the Victory rental program and keep this place as a retirement account. Nicholas
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Response from the owner - 4 weeks ago
Thank you Nicholas!
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Amil Abdallah
2 months ago
I highly recommend Victory Property Management when renting homes in Wilmington. Jamie Johnson has especially been a great help as she's been there to assist me with any questions or concerns I have had in the past!
Response from the owner - 4 weeks ago
Thanks a ton for the kind words!
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Danny elopat
2 years ago
I currently live in Raleigh and have a rental property on Carolina Beach, NC. I went through a cycle of 3 nightmare tenants in a time frame of less than a year! I considered selling but quickly realized I would lose everything I had invested in my condo. At wits end with renters, I came across Victory Real Estate, and they have been great. I have had a solid renter in my unit for about 14 months and have no complaints. I was very pleased at how they advertised my unit and how hard they qualified the applications. After waiting with a vacant unit for a few months, I was ready to accept just about anyone. But with Danielle's help I was able to find a great renter and I'm finally seeing some income from this place.
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Response from the owner - 2 years ago
Thank you Danny!
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Kenny L
2 months ago
Victory Property Management has been great to work with. They were very helpful in finding a rental property that fit the needs of my family. The property itself has been fantastic and we've been very comfortable here. The few times we've needed repairs the response has always been prompt. I would absolutely recommend VPM to anyone in need of their services.
Response from the owner - 4 weeks ago
Very much appreciated Kenny!
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Daniel Wortman
a month ago
GREAT SERVICE!!! I have had nothing but a great experience with Victory. They were able to get my condo rented with a long term person, they take care of issues if they arise without any work from me! Must have for property management in my opinion!!!
Response from the owner - 3 months ago
Thanks a ton for the kind words!
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Cynthia Prince
10 months ago
Our experience with Victory could not have been better. Always professional; good communication; quick to respond to any issue or concern. I highly recommend Victory for your property management needs.
Response from the owner - 3 months ago
Thank you so much for the kind words Cynthia!
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Alexander Iglesias
a year ago
I wanted to thank Victory for actually “managing” my property. Someone in my department has all sorts of investment properties and endless problems with Property Managers who don’t seem to care at all – she could write a book. Thank you, Alexander Iglesias
Response from the owner - a year ago
Thanks Alexander! We appreciate your kind words.