Wilmington NC Short Sale

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Wilmington NC Short Sale

Breathtaking home with state of the art kitchen and all the bells and whistles. Fantastic home in Cove Point. In ground pool, private location central to every convenience, 3 bay garage.

Incredible home originally owned by a builder who spared no expense for luxury appointments. 3 bay garage, stunning kitchen featured in the 2005 Signature Kitchens and Baths Magazine. Includes dual temp Sub Zero 424 under counter wine cooler, Sub Zero SBS Refrigerator, GE Monogram High Production Large Capacity Ice Maker. Granite Island and Solid Surface Countertops, Grohe pot filler at range, 48 Viking Professional Series Dual Fuel Range, Viking Designer Series Built-In Custom Ventilator System 880 CFM Interior Hood, Viking Professional Series Microwave Oven. Sub Zero 700BR Refrigerator Drawers,20 porcelain tile and oak hardwood floors downstairs. This home is wired for surround sound in family room & FROG. There is a separate heat pump for the bonus room and  a 19 KW Detroit-Diesal Generator powers entire property. In ground pool and pool house with outdoor shower, custom built brick, outdoor grilling area,  and central vacuum system.

This wonderful opportunity can be yours for just $520,000! Wow, what a deal for the Wilmington NC real estate market.

We also have many other short sales in Wilmington, NC and would be glad to send you detailed information on any of the homes for sale in Wilmington, NC. Just contact kaybaker@ec.rr.com or 910 232-0363. You may also search all homes for sale at www.cbbaker.com.

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Wilmington NC in Top 100 Places For 2010

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Once again, Wilmington NC made the top 100 list for the most desirable places to live. The cities chosen by Relocate America were based on future recovery and growth including employment, the real estate market conditions, recreational opportunities and the quality of life. In other words, Wilmington NC is a great place to live and play!

Wilmington NC Real Estate

If you are thinking of moving to the area, you will definitely need a real estate professional who is knowledgeable about the area. I am a life long Wilmington NC  Realtor with all the experience and knowledge it takes to be your Realtor for life. Just give me a call or email kaybaker@ec.rr.com.

You can also search for Wilmington NC homes or Wilmington NC real estate at www.cbbaker.com. There you can search by schools, maps, zip codes, price ranges, neighborhoods and more.

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Wilmington NC Real Estate Market First Quarter Data

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Wilmington NC Real Estate Market Conditions

We have now seen 7 months of growth in sold units over the same time frame from a year ago, March had a gain of 8.3% over March of 2009. Our average sold price is down 7.1% from last month and up 3.6% over last March.  Our pending index is up about 17.4% over last month and is up about 19.5% over 2009 this time. In the month of March we saw an increase of 338 homes in our listing inventory, we have 5,577 homes on the market as of April 1st.  This continues to put us in a strong buyer’s market with a listing inventory of over a 15.2 month supply. Our average list price has stayed below the $400,000 range for seven months; we are currently at $380,975. Our rolling 12 months (year over year) shows a gain of 108 units or 2.5% gain. For March we saw an increase in our seller concessions, it is now 27.7%. Our average days on the market remained in the 130’s. The list to sold ratio is 94.1% and is down .1% from last month; this number needs to continue to get better. The number of homes that sold in 15 days or less continues to remain very low, 18.6% of March sold homes. The 30-year fixed-rate mortgage (FRM) averaged 5.21% with an average 0.7 point for the week ending April 8, 2010. We still have the benefits of the $8,000 tax credit for first time homebuyers is for homes that are under contract by April 30th and closed by June 30th.

Wilmington NC Homes for Sale

In March we saw a big increase in listing inventory of 338 units. We are about 38 units over March 2009. We have 5,577 single family homes for sale in our MLS. The average list price of $380,975 is up by $4,081 from last month. The average list price has increased by 2.0% from January 2010. If you look back over the last three years you will see our low point in listing inventory to be about Dec/Jan time frame.

Monthly Average Sold Price

Our monthly average sold price is down by 7.1% from last month and up 3.6% from March 2009. Our average sold price is down by $17,152 from last month. March average sold price ($224,765) shows a decrease of 4.1% from year end 2009. Read the rest of this entry

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New FHA Guidelines for House Flippers

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A new law will allow investors who have bought homes to renovate and flip to get those homes back on the market immediately. Under the previous guidelines the investor must have owned the home for at least 90 days. As a result, investors have been skeptical of buying foreclosures because of the carrying expenses during the 90 day hold period. There are some guidelines for investors and buyers under the new ruling: 1) The property must not have a pattern of being flipped by investors. 2) All transactions must be “arms length”. In other words, no related parties. 3) Lender may require documentation of renovations if sales price is inflated by 20% or more or a second appraisal may be required.

For more detailed information about Wilmington, NC real estate foreclosures or short sales available , please contact me kaybaker@ec.rr.com. I will send you  a detailed list of Wilmington, NC homes right to your email. Or, if you are a homeowner and need assistance in selling your home, we are experts in the short sale and foreclosure market, too.

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Kay Baker Associates | 1001 Military Cutoff | Ste 101 Wilmington, NC 28405 | kaybakerassociates@ec.rr.com | 910-202-3607 | Fax 910-338-2428

Copyright © 2017 Wilmington NC Real Estate Guide. All rights reserved. Disclaimer: All content on this blog is my own opinion and should not be treated as fact or relied upon when purchasing or selling real estate.