Message From the President
October 7 , 2007
RE: Rarity Ridge
Here is and article from Boating Life magazine that was written recently that ranks Knoxville as the third best place to boat and tied with San Diego, CA.
Knoxville ranks third on the magazine's list of places in the U.S. to boat and live
Area's top 10 ranking no surprise to boating execs. With the Knoxville skyline in the background, a boat motors toward Volunteer Landing on Thursday. Knoxville was ranked third by Boating Life magazine as a top area in the country to boat and live. Boating Life magazine ranked Knoxville third — tied with San Diego. Tampa Bay, Fla., and Fort Lauderdale, Fla., ranked first and second, respectively. I'm not surprised,” said Pepper Marcum, owner of Sea Ray of Knoxville. “Look at our lakes. Look at our natural beauty. No one can compete with that,” she said. Harbormaster James Bisch at Concord Marina is not surprised, either.
“We keep thinking the business is going to slow down because of gas prices and it never has,” he said. He also said many people use boating as “mini vacations” as opposed to taking traditional vacations. Here’s what the magazine had to say about the Knoxville area: “It’s not hard to figure out why boat manufacturers such as Sea Ray, Bayliner, MasterCraft and Skier’s Choice, among others, set up shop in or near Knoxville. The Tennessee River, which runs right through downtown, is part of every aspect of life here. Upstream of the city, the river is a popular fishing and camping spot. Closer to the city, recreation is ever feeding from the river.“ ‘The biggest pull for the downtown area is the football season because of the massive tailgating parties on boats,’ says Joe Cornelius, manager of the Marinas on Lake Loudon.
“As the river flows out of downtown, it forms Fort Loudon Lake where there’s been a recent boom of lakefront housing development. But the centerpiece of the area is Tellico Lake, where most of the boat builders test their boats. It also became the place to live ever since nationally known Tellico Village opened in the 1990s.” One of the boat builders on the banks of Tellico Lake is Cobalt Yachts in Vonore south of Knoxville. Cobalt president Constantinos Constantinou said the ranking does not surprise him. “I think the area is certainly a very attractive boating region,” he said. He credited TVA with being “very diligent” in providing access to the water. “Accessibility is a factor, and the lakes are managed well by TVA,” he said. John Dorton, CEO of MasterCraft Boat Co. said the Knoxville lake region is essential to his business.
“First, we lake test every boat we build and therefore must have immediate access to big water for the 20-plus boats a day we build. Secondly, this area attracts a lot of talented people because of the great outdoor lifestyle and natural resources. We count on this region to bring us top talent and hold them here. Lastly, our lakes provide great inspiration for our new product develop efforts,” Dorton said. Bisch said his marina has 420 boats ranging in size from 18 feet to 63 feet with 70 people on a waiting list. “This lake is so full of boats I’m surprised we don’t have some rules limiting them. It’s getting crowded out here,” he said. Bisch said he has three kinds of boaters who use his marina. Full-time boaters represent about 25 percent of his business with weekend boaters and football season boaters proving the rest. To a lot of those customers, boats are a second home, a mini vacation, or both, Bisch said. Henry Luken, an owner of Christensen Shipyards, said the area’s moderate weather and being a safe place to live contributed to Knoxville’s third place ranking. As for boating-related jobs, Luken predicted employment in the Tellico area will grow from approximately 2,000 employees now to 4,000 or 5,000 in three or four years. “Once we (the boating industry) get done we will be the largest boating manufacturing place, period,” Luken said.
Michael J. Olexa
Inner Banks Living
President/Founder
919 569 0631 phone
919 569 0632 fax
www.innerbanksliving.com
www.olexaventures.com
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Message From the President
August 24, 2007
Re: Norris Lakes Phase 3
I recently sent out an email that mentioned Land Resources will allow my customers to access 10 lots for sale before the Final Phase 3 Lake View Point Sellout On September 14th-16th. Phase 2 was a huge success as there is much activity and some contracts on many of my clients lots. I did better than just get 10 lots for Phase 3, Land Resource management has allowed my clients to get the best picks of all the inventory before September 14th. I have had much interest the past 2 weeks regarding this project so it is safe to assume that I will have 10 or so lots taken off by tomorrow. It would be a good idea to contact myself or call Mark Kotellos who is your contact at Land Resource. Just tell him I recommended you call him. His number is 423 494 8921.
After Lake View Point, also known as Phase 3 there is no more new inventory so the concentration will be on resales which only further aides my clients on the back end. The water and mountain views and spacious lots make this offering a winner. Here is the Best part. Land Resource will offer 10% off the pricing listed above and 2% applied toward closing. Possibly, they will offer a deal where you finance at 95% LTV or 5% down and then they give you 10% back after closing. So you would actually have no money down and an additional 5% that can be applied toward your monthly payments ( I will know for sure in the coming days). Land Resource will be doing there own in house financing for this project to make the lending process more seamless and essentially control the terms. For cash and IRA buyers this is the perfect fit with 10% off and comps in Phase 1 much more costly than the pricing listed above. You will notice that there are some very low priced lots in this phase but some very expensive ones which makes the lower priced product all the more attractive.
I am excited about this opportunity as it really is a great complement to the success in Phase 2. My website www.innerbanksliving and www.olexaventures.com will be updated in the coming days with all of the pricing, site map and Lake View Point Sellout information. Please feel free to reach me at 919 569 0631 or Mark Kotellos at 423 494 8921.
Regards,
Mike Olexa
President/Founder
Inner Banks Living
919-569-0631 Phone
919-569-0632 Fax
www.innerbanksliving.com
www.olexaventures.com
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Message From the President
August 16, 2007
RE: Norris Creek Good News/10 more Lots Available in Final Phase 3
I wanted to send out a good news email that the first and second resale contracts were signed at The Villages at Norris Lake for Two of My Customers and the couple that is buying one of the lots plans to build a home and potentially pick up a few additional lots. End users and baby boomers are in the lakes of Eastern TN and many baby boomers are being shown properties both at the Villages and on other properties such as Timber Point, Vandemere, Richland Landing, etc. Mark Kotellos at the Villages and Paul Olson, who is the resale agent from our Keller Williams office, are hard at work and both of these individuals have a marketing plan to make it happen. They are both putting in long hours and their marketing plans have proven to be successful. Land Resource is in the process of providing 10 water access lots in the same price range for Phase 3 and as I stated this is the final phase and inventory is dwindling. After the success of Phase 2, I no doubt will recommend purchasing the 10 lots in Phase 3 at the pricepoints comparable to Phase 2. I will be putting interested parties in touch with Mark Kotellos and he will begin writing contracts for these 10 in the coming week. Please let me know if you want any of the lots.
Inner Banks Living will be featuring two of our own waterfront projects near the Intracoastal Waterway that will give my clients the opportunity to buy into a development at a discount to market value pricing. I own both of these parcels and one is located near the emerging town of Oriental, just a 33-mile run from New Bern, NC. This would be the perfect cash or IRA purchase, as this is a 2-5 year investment in my opinion but it gives my clients the unique opportunity to get in at the ground floor. If you are interested, please let me know as I will start compiling a list.
I also wanted to introduce Chris Wetherall from NAFEP, as he has been recommended by the Keller Williams organization and he is recommended as a great contact to get 401K and IRA accounts set up. NAFEP gives you unique programs that enable you to invest in property using your IRA or 401K money. Many of you are using Pensco Trust who I have been happy with and in talking to Chris it seems like his depth in product is even greater as his group facilitates also with 1031 exchanges and other options. There programs are simple, have low or no fees, include ongoing support, and are friendly to property investing. IRA or 401K money invested in property, especially for your own use, is an effective use of capital you already own. There can also be significant tax advantages when rowing your property investment if you use a Roth account.
Here is Chris Wetherall's contact information:
Chris Wetherall, CEA, Director
NAFEP Corporate Relationships
Ph: 877-626-2628
Fax: 865-220-9006
Email: chris@nafep.com
www.assetsfirst.com (The Assets First site is provided free to brokers to educate clients about their various options.)
Regards,
Mike Olexa
President/Founder
Inner Banks Living
919-569-0631 Phone
919-569-0632 Fax
www.innerbanksliving.com
www.olexaventures.com
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Message From the President
August 06, 2007
RE: The Outer Banks
Why Stop at Outer?
The Outer Banks aren't the only sunny strands in North Carolina.
How about the . . . Inner Banks?
By Andrea Sachs
Washington Post Staff Writer
Sunday, July 29, 2007; P01
So, you've been going to the Outer Banks for that many summers? So long that you can remember looking into Hurricane Fran's eye. So often that you can tick off the mile markers blindfolded. For so many seasons that you might bronze your beach towel and donate it to the Outer Banks Historical Center.
Perhaps it's time to find a new spot in the sun. Say, North Carolina's Inner Banks.
Okay, so we made up that name. (Well, almost: Washington, N.C., and other eastern inland regions tout this brand name.) But the term seems to perfectly describe that part of North Carolina's coast that bends inward, 120 miles southwest of the Outer Banks and 30 miles below the Crystal Coast (sometimes called the Southern Outer Banks).
North Carolina's prodigious coastline stretches for more than 300 miles, 130 of which are within the Outer Banks. A little farther south, near Wilmington, another miles-long chain of islands heavily dusted with golden sand hugs the coast. Most of the islands are connected by bridges and are accessible by highways. A few are reachable by ferry -- and who doesn't love a boat ride, especially when the pelicans are dive-bombing for dinner?
Wilmington's archipelago -- which we will henceforth refer to as the Inner Banks -- shares some similarities with the Outer Banks. Both are a collection of barrier islands that are five or six hours by car from Washington, depending on where you plant your beach umbrella. Yet the Inner Banks have some distinct advantages:
· Visitors traveling by plane can fly directly into Wilmington's large airport, which is mere miles from the beach; for OBX, the nearest airport is 82 miles away in Norfolk.
· The area's strands are connected by multiple major routes, which helps disperse weekend beach traffic; OBX's Route 12 is the main artery -- you have no alternative unless you captain a ship.
· On rainy days, you won't be stuck inside the motel room working on a 10,000-piece puzzle; Wilmington is an engaging waterfront town with museums, shops, a battleship and other attractions that can distract you from gloomy skies.
The Wilmington-area islands come in various sizes (large to glorified lump) and populations (from thousands of people to just birds and turtles). We focused only on areas that are an easy drive from Wilmington and offer a gamut of amenities. Starting at Topsail Island just northeast of Wilmington, we didn't stop till we hit Bald Head Island, the southernmost isle on the Cape Fear Coast, which refers to those destinations bordering the Cape Fear River. Along the way, we noted the characteristics of each sun-baked land mass, such as its beach scenes, activities, restaurants and hotels. And to help you choose your favorite, we've matched each Inner Banks area with its Outer Banks counterpart, with the help of Stephen "Dr. Beach" Leatherman, who rates America's top beaches. (Note: All hotel rates are for high season; prices drop after Labor Day.)
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