Wilmington NC Real Estate Guide

Wilmington NC real estate market

The Wilmington NC real estate market is really making a bounce back with the number of showings at Coldwell Banker Sea Coast up a whopping 72% over December! There were 2757 showings of our very own listings in January! That is amazing.

If you are in the market to sell your home this year, now is the time to be getting your home on the market. You don’t want to be left behind when we get into our Spring selling season this year. The Northeast market is rebounding, as well. When that happens, those buyers will be here in the Spring to purchase .

And Wilmington NC home buyers, don’t forget the clock is ticking for the tax credit. If you would like to search for homes in Wilmington, NC by price range, schools, map, zip codes and even neighborhoods, my website does it all at www.cbbaker.com. Please feel free to contact me at kaybaker@ec.rr.com.

Wilmington NC Jobs Increase

There are signs of a recovering economy as a recent jobs report listing cities with jobs growth over 1% for period July-October 2009, listed Wilmington NC in the top ten cities for jobs growth during that period. The list was compiled by the Bureau of Labor Statistics. There were 77 cities that saw jobs increase during that period and 19 cities saw growth of over 1%. Wilmington NC jobs increased by 2.1% while Merced, Calif saw a 2.7% increase and Raleigh-Cary 1.3%. That is really good news for the Cape Fear Region.

The housing market seems to be experiencing a comeback, as the market has had 4 consecutive months of sales increases over 2008.

Wilmington NC Real Estate

If you are thinking about purchasing Wilmington, NC real estate, please take advantage of the $8000 tax credit. What an opportunity for homebuyers! And, you can search for Wilmington NC homes by neighborhood, schools, maps, zip codes, price and more at www.cbbaker.com. Please feel free to contact me at kaybaker@ec.rr.com or 910232-0363. We are here to assist you with your real estate needs every step of the way.

Great news for Wilmington, NC real estate market

Congress is extending the $8,000 stimulus package to first time home buyers and buyers who have not purchased a personal residence within the last 3  years.  Also an extra bonus to home buyers is a $6,500 stimulus to homeowners who have owned their home for 5 years and would like to purchase a personal residence.  Both stimulus plans require that the buyer be under contract by April 30. 2010 and close by June 30, 2010.  If you have been thinking about purchasing your first home or a move up home, NOW is the time to do it.

The housing market continues to show signs of improvement day after day. Looking at the very latest local data and trends is key to making a sound buying or selling decision in any particular market. That’s one of the most important services we offer our clients.  We are the local experts, use our knowledge to your advantage.

Wilmington, NC Foreclosures, Short Sales

We can send you detailed information on the latest listings, Wilmington, NC foreclosures, short sales and more. There prices won’t last for long. Many homes sell within 48-72 hours of listing. Be the first to know about them. Call or email kaybaker@seacoastrealty.com today!

First Time Home Buyers

According to the National Association of Realtors, First time home buyers are driving the market to a rebound as home sales in September bounced back strongly. Home sales are at the highest level in 2 years! And, here in my home town, Wilmington NC real estate is on the move, as well.

$8000 Tax Credit

NAR chief economist, said favorable conditions matched with a tax credit are boosting home sales. “Much of the momentum is from people responding to the first-time buyer tax credit, which is freeing many sellers to make a trade and buy another home,” he said. “We are hopeful the tax credit will be extended and possibly expanded to more buyers, at least through the middle of next year, because the rising sales momentum needs to continue for a few additional quarters until we reach a point of a self-sustaining recovery.”

Adding to the real estate market recovery is that home affordability is the best it has been since 1970. And, with the added $8000 tax credit. Buyers are jumping in to take advantage of this once in a life time opportunity.

The market housing supply is the lowest it has been in over  two years nationwide and that in itself is a strong signal that the market is on the rebound.

Wilmington NC Real Estate

Don’t wait to take advantage of this great time to buy real estate, start your search today online at www.cbbaker.com. You can search homes in Wilmington, NC by price range, neighborhoods, zip code, schools, map and more. And, please contact us for a detailed list of foreclosures and short sales at kaybaker@ec.rr.com or 910 232-0363. You will receive a list right in your inbox or on your mobile phone.

The Wilmington NC real estate market made a maj0r accomplishment in September by not only beating August sales, but also sales increased over August 2008 numbers! The Wilmington market has not seen this kind of increase in 3 years, according to WRAR records.

This could indicate a bottom for our market and a major turnaround if these numbers can hold out for a few months or so.

The sales volume was $104.67 Million and September 2008 was $88 Million. $264,340 was the average sales price for September as opposed to $235,528 for August 2008.

Of course, a lot of the increase could be attributed to the $8000 tax credit due to expire in November. If you are thinking of buying a home now and want to take advantage of this once in a lifetime opportunity, please give us a call or email kaybaker@ec.rr.com. We can send you a detailed list of homes for sale in the Wilmington area and even foreclosures and short sale opportunities. You may also log on to my websites at www.cbbaker.com or www.kaybakerwilmington.com to search all Wilmington NC real estate.

Many of you have asked about economic conditions in the Wilmington NC area.

Here are a few as stated in the Star News.

Home sale prices

Average Price of Homes Closed $234,988; $271,800 in 2008

Median Price of Homes Closed $183,233; $204,939 in 2008

Unemployment for August 2009

North Carolina 10.8%; 6.6% in 2008

Wilmingon Metro 9.7%; 6.1% in 2008

New Hanover County 9%; 5.6% in 2008

Brunswick County 10.6%; 6.9% in 2008

Pender County 11.1%; 6.4% in 2008

If you are interested in finding out more details about the Wilmington NC real estate market, such as foreclosures or short sale opportunities, please email kaybaker@ec.rr.com or call 910 232-0363. We can send a detailed list right to your inbox. You may also log on to my website at www.cbbaker.com to search all homes in Wilmington, NC.

Fantastic positive news was released from the National Association of Realtors today.  The news release stated that the historically low interest rates combined with the $8,000 credit for first-time ( or homeowners who have not purchased a home in 3 years) helped raise the pending home sales contracts, for the third consective month.

The Pending Home Sales Index a “pending prediction” indicator based on contracts signed in April, rose 6.7 percent to 90.3 from 84.6 in March,
which is even above the April 2008 index of 87.5.

To get the first time home buyer credit of $8,000, contracts must be firmed up by November 30, 2009 to receive the credit, so we look forward to an increase in home sales.

The Wilmington NC real estate market has also enjoyed an increase in pending sales contract and still is in a a strong postion to continue this trend.

To search all Wilmington NC real estate and find out about the $8,000 tax credit please read more about the Wilmington NC real estate market here.

Chief economists say the worst may be over as new signs of recovery in housing and the stock market are more evident every day. It’s all about consumer confidence, as we all know, and it can be a very temperamental. But, with the recent rise in the stock market and the stimulus starting to energize the housing market, the recovery is more and more distinct.

The job market is not a leading indicator of recovery as indicated by the recent job report of more jobs being shed. In a downturn, employers tend to wait it out to see if the rebound is certain before hiring new employees. The job market decline is expected to soften in the second quarter.

Wilmington NC real estate

The real estate market in Wilmington NC is showing definite signs of recovery as more and more contracts are written week after week. We are even seeing multiple offers in some situations. The most active price range still remains under $300,000, but the luxury buyers are starting to come forward as Spring arrives.

For the most up to date details on Wilmington NC real estate, please call me at 800-497-7325 , email kay@cbbaker.com or log onto www.cbbaker.com.

Wilmington NC in the top 20 best cities

Wilmington NC ranked high on the Forbes list of cities best suited for businesses and careers. NC took six top spots on the list of 20 metro cities listed out of 200 in the US. Raleigh ranked #1, Durham #3, Asheville #6, Wilmington #13, Winston Salem #18 and Charlotte #19. The 200 cities were scrutinized for various criteria including past 5 years of job growth and continued projections through 2011. Also examined were living costs, business expenses, income potential and trends for growth.

Wilmington NC is located between the Cape Fear River and the Atlantic Ocean in Southeastern NC. It is home to UNCW, USS Battleship NC, Wilmington Regional Film Commission, NC Azalea Festival, The Fort Fisher Aquarium, Masonboro Island, Airlie Gardens and The World’s Largest Living Christmas Tree. Miles and miles of sandy white beaches are enjoyed on a daily basis by residents of the area. The mild climate makes for year round enjoyment of the many sounds, creeks, waterways and beaches.

Wilmington NC Real Estate

The Wilmington NC real estate market has been strong for many years and is named one of the strongest markets for appreciation. Real estate investors have enjoyed over 50% increase in property values in the past 5 years and less than 5% decrease in the past year in the housing meltdown.

For more detailed information on real estate in Wilmington, NC, please contact kay@cbbaker.com or call 800-497-7325. You may also log on to www.cbbaker.com to search all homes in Wilmington, NC by neighborhood, schools, zip, price or map.

Homes Sold First Quarter

As the end of the first quarter comes nearly to an end, I thought it would be interesting to share the market statistics of homes sold in the Wilmington Metro area for year to date 2009. As you can tell by looking at these numbers, the most active price range remains in the $150,000 to $300,000 price point.

We are seeing a definite increase in activity and contracts written these days. With Spring upon us, we expect the trend to continue.

Wilmington NC Real Estate Economy

For more details on the Wilmington NC real estate economy or to search for homes , please feel free to email kay@cbbaker.com or call 800-497-7325 or check out www.cbbaker.com. Read the rest of this entry