JUST SOLD! Free Neighborhood Updates | Wilmington NC real estate

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More Seller Tips…..

Extensive Coldwell Banker Sea Coast Wilmington NC Concierge Service List for you to use when buying or selling a home.

Wilmington NC Concierge List

For all your Wilmington NC real estate needs, please visit www.cbbaker.com

Categories: Figure Eight Island, Landfall, Porters Neck Plantation, Selling your home, Wilmington NC Neighborhoods, wilmington nc relocation, wilmington real estate stats

Local Wilmington NC Real Estate Analysis by Zip Code

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Great news for the Wilmington NC real estate market.  Just released ~

By R.J. Alex, 2013 President, Wilmington Regional Association of Realtors®

When analyzing six major zip codes in our region – 28403, 28405, 28409, 28411, 28412 and 28451 – an average of the zip codes for the fourth quarter of 2012 shows that:

  • Our list to sales price ratio for 4th Quarter is 96.1%, an increase from 94.1% for 4th Quarter 2011.
  • The average number of days a property remained on the market for 4th Quarter was 121 days, compared to 158 days for 4th Quarter 2011.
  • The median sold price of $189,000 for 4th Quarter has increased 5.0% from 4th Quarter 2011.
  • Our average sales price has decreased by 2.8% from 4th Quarter 2011.
  • Of the 847 sellers in 4th Quarter – 30.4% paid some sort of concession toward the purchase of the house.
  • The average list price of the sold properties is $233,703 and is down 4.8% from 4th Quarter 2011.

The areas of focus in this analysis were:  

  • Selling Price – The price the seller accepts for his or her house.
  • Sellers Concessions – The amount of money a seller of a house contributes toward the buyers purchase.
  • List to Sales Price Ratio – The difference between the list price and the selling price shown as a percentage.
  • Days on Market – The number of days a house remains for sale, from the listing date to the date the property is placed under contract.
  • List Price – The amount of money a home is listed on the market.
  • Median Price – The middle price of all the properties sold in the given time period

4Q 2012 Zip Code Report - CHART

28403 Zip Code

  • The average selling price, of $193,951 has decreased 9.3% from 4th Quarter 2011 average selling price of $213,785.
  • 21% of sellers paid a concession, compared to 25% in 4th Quarter 2011. The best of all zip codes.
  • The average list price of $206,816 has decreased 11.0% from 4th Quarter 2011 average list price of $232,379.
  • The average number of days a property remained on the market for 4th Quarter was 161 days, compared to 181 days for 4th Quarter 2011.
  • The median sold price of $162,500 for 4th Quarter has increased 2.5% from 4th Quarter 2011.
  • Sold homes in the 4th Quarter received 93.7% of the asking price, an increase from 92.0% for 4th Quarter 2011.


28405 Zip Code

  • The average selling price, of $264,738 has decreased .01% from 4th Quarter 2011 average selling price of $264,936.
  • 26% of sellers in 4th Quarter paid a concession, compared to 22% for 4th Quarter 2011.
  • The average list price of $284,578 for 4th Quarter has decreased .09% from 4th Quarter 2011 average list price of $287,135.
  • The average number of days a property remained on the market for 4th Quarter was 130 days, compared to 182 days for 4th Quarter 2011.
  • The median sold price of $150,000 for 4th Quarter has decreased 9.1% from 4th Quarter 2011.
  • Sold homes in 4th Quarter received 93.03% of the asking price, an increase from 92.2% for 4th Quarter 2011.


28409 Zip Code

  • The average selling price, of $252,711 has decreased 4.0% from 4th Quarter 2011 average selling price of $263,235.
  • 35% of sellers in 4th Quarter paid a concession, compared to 33% in 4th Quarter 2011.
  • The average list price of $258,589 for 4th Quarter has decreased 8.0% over 4th Quarter 2011 average list price of $281,212.
  • The average number of days a property remained on the market for 4th Quarter was 87 days, compared to 142 days for 4th Quarter 2011. The best of all zip codes.
  • The median sold price of $227,121 for 4th Quarter has decreased 13.0% from 4th Quarter 2011.
  • Sold homes in 4th Quarter received 97.7% of the asking price, an increase from 93.6% from 4th Quarter 2011.


28411 Zip Code

  • The average selling price, of $262,073 has increased 3.6% from 4th Quarter 2011 average selling price of $253,001. The best of all zip codes.
  • 45% of sellers in 4th Quarter paid a concession, compared to 45% in 4th Quarter 2011.
  • The average list price of $273,299 for 4th Quarter has increased 1.6% over 4th Quarter 2011 average list price of $269,054. The best of all zip codes.
  • The average number of days a property remained on the market for 4th Quarter was 109 days, compared to 177 days for 4th Quarter 2011.
  • The median sold price of $240,500 for 4th Quarter has increased 20.6% from 4th Quarter 2011. The best of all zip codes.
  • Sold homes in 4th Quarter received 95.8% of the asking price, an increase from 94.03% for 4th Quarter 2011.


28412 Zip Code

  • The average selling price, of $181,470 has increased 2.0% over 4th Quarter 2011 average selling price of $177,917.
  • 29% of sellers in 4th Quarter paid a concession, compared to 31% in 4th Quarter 2011.
  • The average list price of $188,012 for 4th Quarter has increased 1.2% over 4th Quarter 2011 average list price of $185,863.
  • The average number of days a property remained on the market for 4th Quarter was 115 days, compared to 157 days for 4th Quarter 2011.
  • The median sold price of $165,000 for 4th Quarter has increased 13.0% from 4th Quarter 2011.
  • Sold homes in 4th Quarter received 96.52% of the asking price, an increase from 95.7% for 4th Quarter 2011.


28451 Zip Code

  • The average selling price, of $205,675 has decreased 7.6% from 4th Quarter 2011 average selling price of $222,492.
  • 23% of sellers in 4th Quarter paid a concession, compared to 33% in 4th Quarter 2011.
  • The average list price of $209,787 for 4th Quarter has decreased 8.7% over 4th Quarter 2011 average list price of $229,874.
  • The average number of days a property remained on the market for 4th Quarter was 132 days, compared to 115 days for 4th Quarter 2011.
  • The median sold price of $195,940 for 4th Quarter has increased .01% from 4th Quarter 2011.  
  • Sold homes in 4th Quarter received 98.0% of the asking price, an increase from 96.79% for 4th Quarter 2011. The best of all zip codes.

Summary for Real Estate Consumers
As we continue on our path to recovery, two out of six zip codes reported an increase in the average sales price. We have four zip codes that have the List to Sales Price Ratio above 95% – this is the second quarter that we have had this ratio. A good sign that real estate is recovering is that clients are getting closer to their asking price. All zip codes, except 28451, reported fewer days on the market by an average of 31 days.

For all the Wilmington NC real estate with buyer and seller advice please visit www.cbbaker.com

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Categories: Real estate by zip code, wilmington nc, Wilmington NC Market Statistics, Wilmington NC Neighborhoods, wilmington nc real estate, wilmington real estate stats

What are the basic steps to selling my home? | Wilmington NC real estate

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Waving Blue Ribbon

  • Do your homework.
    Visit our website www.cbbaker.com  to size-up the homes-for-sale competition, read home selling articles on our site, consider reading a book on home selling, attend some seller’s Open Houses in the your area (ask us or see the local newspaper).
  • Hire a specialist.
    As neighborhood real estate agents that specialize in listing in your area, we know what it takes to sell in this market. We welcome your call!
  • Set the price.
    Ask your agent for an analysis of the local market and an opinion of the best price range for your home.
  • Set a marketing strategy.
    Have your agent discuss a marketing plan and include the main elements in the listing presentation.
  • Get the house ready.
    With your agent, take a hard, objective look at your home. Prioritize what needs to be done, and decide how much you can spend in time and money to make it look its best before opening it up to buyers. Get rid of all clutter and put some of your stuff in storage to make the rooms and closets roomier. Put together an information packet on local amenities, your utility bills and other helpful information.
  • Consider finding a reliable real estate attorney.
    The attorney can help review all the paperwork.
  • Keep on top of the process.

Stash some quick clean-up supplies close at hand, and do a fast run-through before letting a prospective buyer preview your home. Also, keep a notebook handy with a record of everyone who has come through (and their agents), and inform your agent after each visit. This can speed the follow-up that your agent will do. Remember to view homes on www.cbbaker.com or on your phone on mobile.cbbaker.com.

Categories: Figure Eight Island, Landfall, Porters Neck Plantation, Selling your home, Wilmington NC Neighborhoods, wilmington nc real estate, wilmington nc relocation

Why Is It Dangerous To Overprice My Home | Wilmington NC real estate

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Why is it dangerous to overprice my home?

Sometimes sellers are tempted to test a higher price at first to see if they’ll be lucky enough to find an uneducated buyer willing to pay. Unfortunately, experience shows this “Why not?” pricing strategy rarely pays off. Instead, asking the right price from the start avoids the many dangers of overpricing.

The right sales price is based on several factors: size of the house and its special features and amenities, recent home sales, demand for homes in your area and prices of similar homes currently on the market.

Although you may have decorated lovingly or renovated extensively, those improvements may have only a small effect on the market value of your home. In fact, personalized decorating can even slow a sale unless the style has wide appeal.

Overpricing Dangers

Here are 8 proven reasons why it’s dangerous to overprice your home:

  • You will miss out on pent-up demand.
    Most activity on a listing comes within the first 30 days. An initial high price can discourage buyers – causing you to miss out on pent-up demand – or tempt them to wait for the price to come down.
  • You will reduce buyer pool.
    Too high a price will eliminate a whole class of qualified buyers. Many buyers know just how high they can go and don’t even look at homes priced above their ceiling.
  • You might turn off buyers.
    You may experience few or no showings because some prospective buyers who can afford the price won’t waste time with an overpriced listing. They know they can get more house for their money elsewhere.
  • You could sell the competition.
    Overpricing helps sell other, more competitively priced homes first. Your home may be compared to underscore what a good deal another home is.
  • You could frustrate prospects.
    Prospective buyers who might stretch their best offer can become frustrated when they can’t buy the home they want at a fair market value – only because an unreasonable seller insists on accepting only a premium price.
  • You will frustrate your own timetable.
    You could become frustrated, too, when your house fails to sell in a reasonable amount of time, leaving your plans in limbo. Only a price reduction is likely to help sell your house faster and meet your “move out” timetable.
  • You will raise doubts about hidden problems.
    If your overpriced house stays on the market for a long time, it may eventually be seen as “stale inventory” which can suggest structural or mechanical shortcomings, even after you lower your price.
  • You will risk lender rejection.
    If you do get a sales contract, the contract may fall through because of a too-low appraisal. The buyer may not be able to borrow enough to proceed with closing.

If you are thinking of selling your house, give us a call or send an e-mail. We’ll be happy to maximize your return by helping you set the right price.

Search all Wilmington NC real estate on www.cbbaker.com  910-202-3607 bakerwayneassociates@ec.rr.com

Categories: wilmington nc, wilmington nc foreclosures, Wilmington NC Market Statistics, Wilmington NC Neighborhoods, wilmington nc real estate, wilmington nc relocation

Stephen King “Under The Dome” TV Series To Be Filmed In Wilmington NC | EUE Screen Gems Studio

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Great news for Wilmington NC Film, Stephen King’s 2009 novel “Under The Dome”, will be filmed here locally at EUE/Screen Gems studio and in the local Wilmington area. The production offices are slated to be open next week.  13 series have been scheduled with as summer release date per CBS.  According to the Star News “Under the Dome” will be produced by King and Steven Spielberg’s Amblin Television. Niels Arden Oplev – director of the original Swedish version of “The Girl With the Dragon Tattoo” – will direct the first episode.”

Welcome to  Stephen King and  Steven Spielberg’s Amblin Television and Niels Arden Oplev.

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Why Now Is The Time to Buy Second Homes | Wilmington NC real estate

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How do you increase your personal wealth with an investment that lets you have your cake and eat it, too?beach-view-3

The answer is a second home! Although only 7% of Americans own a second home, experts believe that demand for second homes is about to skyrocket, as the baby boomers reach prime buying age. And, remember as the demand for second homes rises so does the value.

Don’t wait! To avoid paying top dollar, the best advise is to buy now. Start enjoying your investment, before demand skyrockets.

You may be thinking of a classic single family home near the beach or a tropical beach home or condo on the beach. Regardless, the best part of owning a second home may be that of building wealth.

Wilmington NC real estate offers many buying opportunities now for second home investors. Whether you are looking for a small residential home, maintenance free second home, tropical beach house or condo on the ocean, we have it all right here. I can send you a list of homes priced to sell now from foreclosures to short sales or just homes priced under $100 ft.  Or if you are looking for pure luxurious living on the ocean, we have homes for sale on Figure Eight Island.

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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.