Wilmington NC Real Estate Guide

Home sales are on the rise now for 3 months in a row. That is certainly a good sign that the real estate market may be rebounding, finally. And, the historic low interest rates and the $8000 tax credit have definitely given the market a boost.

New home sales have risen more in the last month than they have in 8 years. New construction is busier now than any month since last fall. But, new home sales are still down 72% from 4 years ago as inventories remain high.

Our own Wilmington, NC real estate market is seeing signs of improvement, as well. First time home buyers are jumping in to take advantage of a once in a lifetime opportunity. Second home and vacation home buyers are beginning to see the benefits of purchasing a dream home on the beach, whether it be Wrightsville Beach, Carolina Beach or Topsail Beach, NC real estate.  Now is the time to take advantage of this market. Everything is on sale now…

To begin your search for Wilmington, NC homes, please log on to my website at www.cbbaker.com or email me at kay@cbbaker.com. I can send you a detailed list of foreclosures, short sales and homes price under $100 ft.

Landfall is conveniently located between Wilmington, NC and Wrightsville Beach, NC. It’s 2200 acres of premier real estate is also situated on miles of pristine waterfront property with magnificent views of Wrightsville Beach, NC.

Landfall is also home to well known golf courses such as The Pete Dye or Jack Nicklaus Course. The country clubs at Landfall offer 14  tennis courts, olympic size pool, state of the art fitness center, fine dining and social events year round.            

Landfall NC real estate offers diverse architecture, wooded homesites, and panoramic views of the intracoastal waterway, fairways, ponds and the beaches. Whatever your heart desires in luxurious country club living, it is here at Landfall near Historic Wilmington, NC.

Homes for sale in Landfall range in size and price  from 1650 sq ft patio home at Prestwick to a stately 10,000 sqft Greek Revival home priced at $4,919,000. There are presently 152 Landfall homes for sale, 6 homes are pending and are priced under $1,000,000. In 2009, there have been 16 homes sold in Landfall according to WRAR.

To search for homes in Landfall or Wilmington NC real estate including short sales or foreclosures, please log on to my website at www.cbbaker.com or contact me at kaybaker@ec.rr.com or 910-232-0363. I would be happy to send you a list of homes for sale.

Now is the Time to Purchase A Second Home

If you are thinking about purchasing a second home, here are a few good reasons to go ahead and make that purchase. Wilmington, NC real estate prices are very attractive right now and interest rates are at historic levels. In addition, there is an abundance of available beach homes, condos, townhomes or just a nice comfortable brick ranch homes for sale near the beach. Also, don’t forget the foreclosures and short sale opportunities right now.

Uncle Sam also has some tax savings for you on second homes, as well.

Mortgage interest and property taxes on a second home may be tax deductible, just as the interest on your primary home.

Interest on a home equity loan is tax deductible, whether for your second home or not. There are some limitations on the deductibility of all equity loans. Be sure to check with your tax advisor.

You may be able to deduct rental expenses including depreciation if your second home is considered to be a vacation home.   Tax laws are complicated, so be sure to check with your tax advisor.

Convert your second residence to a primary residence for two years for either you , your spouse, or both of you and shield gain from capital gains tax. You can qualify for this break if, during the five year period leading up to the sale date, the property was owned for a total of two years and used by you as a principal residence for a total of two years. What establishes a principal residence is virtually a laundry list of factors. Again, be sure to consult with your tax advisor.

Remember, Wilmington NC homes beach homes are on sale right now. You can choose from a condo on or near the beaches, or maybe a  beach home for the family on Figure Eight Island, NC or Wrightsville Beach, NC. We have it all. Just send me your specific criteria and we can find the best deal for you. Also, search for homes on my website by price range, neighborhood, map, zip code and more at www.cbbaker.com.