Positivity | 12 Signs Housing Recovery Is Taking Hold | Wilmington NC real estate

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Good News and Positive Numbers For Wilmington NC real estate ( click on graph for more statistics)
Call us if you are thinking about selling your home.
We will be glad to give you advice

12 Signs Housing Recovery Is Taking Hold

If you’ve been one of those would-be home buyers on the proverbial fence, now is the perfect time to get off and make your move! All signs point to right now being a great time to buy in our local housing market — for far more reasons than historic low interest rates alone. We can work with you to take advantage of these truly extraordinary conditions to buy now. From discovering how much home you can afford to uncovering the best deals in our area, we will share with you the insider info you need to buy your next home today. Here are 12 signs why it’s a great time to make a move toward buying in this market.

1. Incredible Interest Rates
Interest rates are at historical lows. It’s hard to walk away from fixed-rate mortgages with low interest rates that can keep your monthly payment manageable for the life of the loan. Because your interest rate is low, you can afford more home than you would otherwise be able to buy.

2. Financing Back On Track
If you need a loan, lenders are ready to help. Once you provide evidence of your income and job history, a down payment and good credit score, you’re more likely to get a loan than at any time during the recent past.

3. Motivated Sellers
Whether it’s a homeowner who needs to relocate quickly or is being forced to short sell or it’s a bank selling their foreclosure property, there is no doubt that many sellers today are motivated. They want to get their homes sold and will consider your offer seriously, putting you in the driver’s seat during negotiations!

4. Fewer Buyers
Because so many would-be homeowners are still sitting on the fence waiting or don’t have the credit score needed to qualify today, your competition for buying now is going to be less than in the near future. Take advantage of that to start shopping!

5. Wide Selection
The number of homes available is still good, giving you a selection to choose from and some negotiating power. (Availability varies by price. Ask us for the latest listings.) Tip: If you feel like taking your time finding a home, beware that the true gems in the real estate marketplace are being snapped up fast!

6. High Affordability
The mortgage payment on a median-priced home at today’s average interest rate is the smallest percentage of median income in years, according to the National Association of REALTORS® Housing Affordability Index. Your home-buying power today is near an all-time high!

7. Home Prices Are Trending Upward
The days of rock-bottom prices are already history, especially for move-in-condition homes. You can still find a great deal on a home, but you need to act fast because the best-priced homes in the best condition don’t last long in our area.

8. Owning Vs. Renting
Rents continue to rise, often putting mortgage payments (principal and interest payments) below the average rental rates. For you, homeownership costs can be lower than renting!

9. Mortgage Deductions
The deductions for home mortgage interest and many other homeowner-favored tax breaks create a range of more great reasons to buy a home and get money-saving tax benefits every year.

10. Fix-Ups Abound
If you’re handy around the house and don’t mind if the home you buy isn’t in perfect move-in condition, you have even more options as a buyer. There are many homes that need work — sometimes just new paint and carpeting — and are available at a discount.

11. National Trends Are Not Ours
What you hear on the national news about “average” home-price trends simply does not apply when you look closely at our area. We know our real estate market best and can tell you exactly what is going on here in the neighborhoods you’re most interested in moving into.

12. The American Dream
Owning a home is still a goal of many Americans. To have a place to call your own, to customize it to your likes and to be able to show pride of ownership is what it’s all about. The American Dream is still attainable. Contact us and let us show you how!

To search all Wilmington NC real estate www.cbbaker.com or on your phone at mobile.cbbaker.com

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Local Home Sales and Prices Rose in March | Wilmington NC real estate

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Good news for Wilmington NC real estate – Total units sold from Feb 11 to March 11 showed a 52% increase.  The average sales price showed a 22 % increase.  Total dollars showed an 86% increase.  Hopefully this upward trend will continue.  The market has showed an increase this past month and the number of people looking at real estate on our website has showed an increase as well.  We are looking forward to an active spring and summer.  The rates have held steady which has helped spur the interest in the area.  To search all of Wilmington NC real estate 24/7 please visit www.cbbaker.com

Categories: convention center wilmington, Uncategorized, wilmington nc real estate, wilmington nc weekly events, Wrightsville Beach NC

Get the Party Started | 64th Azalea Festival | Wilmington NC real estate

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The azaleas are blooming and the weather is perfect.  Please join us in celebrating the 64th Azalea Festival in Wilmington NC April 6-10, 2011.

” The mission of the North Carolina Azalea Festival is to be nationally recognized as a showcase for our community’s rich array of artwork, gardens, history and culture through recreational, educational and family-oriented events. The Festival encourages volunteerism and civic participation as it contributes to the region’s economy and promotes the unique qualities of Wilmington’s river-to-the-sea community.”

Sponsors and volunteers spend all year planning the weekend.  See the schedule here.

Categories: convention center wilmington, darius rucker

The Real Facts of NC real estate | Wilmington NC real estate

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The National Association of Realtors have released their “For the Record” Nov/Dec 2010 issue of Real Facts about NC real estate.  Topics covered were Economy, Homeownership and Foreclosures.

NC unemployment rate has dropped steadily with NC being 3rd for declining rates.  September retail sales rose for the 3rd straight month.  Housing starts hit a 5 month high in September, 4.1% higher than September 2009.  Foreclosure rates fell and the NC Foreclosure Prevention Fund assistance will start being available in December to struggling homeowners.  Read more here…

Categories: convention center wilmington, Uncategorized, wilmington nc, Wilmington NC Market Statistics, Wilmington NC Neighborhoods, wilmington nc real estate

September Existing Home Sales Show Another Strong Gain :: Wilmington NC real estate

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The National Association of realtors has posted that the existing home sales rose again in September.  This affirms that a sales recovery has begun. 

The NAR states that the “existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, jumped 10.0 percent to a seasonally adjusted annual rate of 4.53 million in September from a downwardly revised 4.12 million in August, but remain 19.1 percent below the 5.60 million-unit pace in September 2009 when first-time buyers were ramping up in advance of the initial deadline for the tax credit last November.”

Lawrence Yun, NAR chief economist, said the housing market is in the early stages of recovery. “A housing recovery is taking place but will be choppy at times depending on the duration and impact of a foreclosure moratorium. But the overall direction should be a gradual rising trend in home sales with buyers responding to historically low mortgage interest rates and very favorable affordability conditions,” he said.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.35 percent in September from 4.43 percent in August; the rate was 5.06 percent in September 2009.

The national median existing-home price2 for all housing types was $171,700 in September, which is 2.4 percent below a year ago. Distressed homes3 accounted for 35 percent of sales in September compared with 34 percent in August; they were 29 percent in September 2009.  Ten years ago, the mortgage rates were twice what they are today and the home prices were at least 20% more, making this a great time to purchase Wilmington NC real estate.  Please visit www.cbbaker.com to search all Wilmington NC area homes, land and boatslips.

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Opening Day Set for Convention Center | Wilmington NC real estate

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Rendering by Creative Illustration Media, INC. LS&P Architects

Wilmington NC is going to get it’s own state of the art  Convention Center.  After waiting for approvals and site plans, an opening date has been set for the Historic Downtown Wilmington Convention Center on the Cape Fear River. 

The grand opening is set for Thursday January 13, 2011 at 9:30 am.  The public is invited and there will be a ribbon cutting ceremony with the mayor and other community leaders.  Following the ceremony, there will be a BizTech Expo with technology and business vendors.  On January 15 a black tie event will be held by the Greater Wilmington Chamber of Commerce, with proceeds benefiting the Cape Fear Future initiative.  

A couple of big companies have signed contracts to hold their conventions here for the next couple of years.  This will bring added revenue to Wilmington NC and expose our area and all it’s natural treasures and great Wilmington NC real estate opportunities.  

Please explore our website for the most up to date listings of all Wilmington NC real estate and waterfront properties.  www.cbbaker.com or call us and we will personally select properties that will fit your real estate needs or portfolio.

Categories: Buying Wilmington NC real estate, convention center wilmington, Economy, Figure Eight Island, Landfall, Porters Neck Plantation, Uncategorized, wilmington nc, wilmington nc convention center, Wilmington NC Market Statistics, Wilmington NC Neighborhoods, Wilmington nc schools

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.