Wilmington NC Real Estate Guide

Great news for Wilmington NC real estate!  January 2013 numbers are in and the market is looking great compared to January 2012 .  All the numbers are up except Days on Market, which is a great thing.  It looks like the market is slowly climbing back up.

For all the stats from prior year please visit here….

To view our local real estate market, please visit www.cbbaker.com.  The market has been hot.  Homes are getting multiple offers, which is something we have not seen in awhile.  Looking forward to a healthy spring and summer.

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

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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A really productive garage sale takes a bit more than stapling up a sign and opening the garage doors. As long as you’re holding a sale at all, make it as big as you can. If you can persuade neighbors to join you in a sale effort, so much the better. Here are some tips that will help you get the most out of your efforts:

• Go through your whole house, sorting out items you can do without. Be ruthless. Plan for the sale to run at least two days; weekends are ideal.
• Advertise ahead of time: Place an ad in your local paper. Distribute fliers. Stick notices on store bulletin boards and street posts (where permitted). Tell your friends and neighbors you’ll be selling your “dear old rocker,” etc. Ask friends to come and assist you on sale days.
• Price your things sensibly (considering the market value of a new item plus the age and condition of your sale item). Polish, clean, repair or mend everything for sale. Mark the price for each item in bold print and expect some bargaining from buyers.
• Clean up the garage or yard and provide good lighting. Place your sale items on tables spaced for easy passage throughout the garage. Put key items (furniture, appliances, antiques, attractive toys, etc.) up front and clearly visible from the street. Hang clothes on racks and make a screened dressing room available for try-ons.
• For your grand opening, float balloons in your yard near the street, stretch streamers around your garage door and hang wind chimes here and there. Provide a low-key musical background. Set up a free refreshment stand. Clear the curbside and drive for parking.
• Have cash on hand to make change. Accept checks drawn only on local banks and require two IDs.

Have a nice sale! We have information to help you in many ways as you contemplate relocation. Call or e-mail us and put our expertise to work for you.  Anything left over? Donate it.  There is a need out there for everything.  Visit www.cbbaker.com for more Wilmington NC real estate guidance.

Waterfront Homes from $100,000 – $200,000 - Find Here

Waterfront Townhomes and Condo’s from $100,000 – $200,000 - Find Here

Waterfront Homes from $200,000 – $400,000 - Find Here

Waterfront Townhomes and Condo’s from $200.000 -  $400,000 - Find Here

Waterfront Homes from $400,000 - Find Here

 Waterfront Townhomes and Condo’s from $400,000 - Find Here

 Waterview Homes, Townhomes and Condo’s - Find Here

 To live by the water is devine…

Enjoy our newest listing at Wrightsville Beach

Deep Waterfront with 2 boat lifts

608 North Channel Drive | Wrightsville Beach NC Real Estate -SOLD!

Waterfront Wilmington NC

Real Estate Listings

The Cape Fear Region’s many miles of coastline, rivers and sounds offer a wide variety of fishing, watersports and boating activities. And, to maximize the regions waterfront enjoyment, there are many neighborhoods offering waterfront homes in Wilmington, NC with canals, boatslips, and or boatramps. We offer the latest, detailed information on all Wilmington NC waterfront homes and communities offered for sale in Wilmington, NC. So just sit back, relax and click any of these Wilmington waterfront communities to search for your waterfront dream home now.

Waterfront Real Estate in Wilmington NC

Please feel free to contact us with any questions or requests about waterfront homes for sale or waterfront real estate in Wilmington, NC, or any location in the Cape Fear Region. We have lived here all our lives and can help match a neighborhood with a home and schools. We  know where the best shopping is and all the main attractions. If you are looking for a second home or investment property in Wilmington, NC, there are still real deals in the great coastal area, but you will need a real estate expert to help you. We are experienced real estate professional’s who has decades of home buying and selling experience in waterfront properties in Wilmington, NC area.

Marinas and Yacht Clubs

 click here for list

Wilmington NC offers an assortment of Marinas and Yacht Clubs for your boating enjoyment. They are located from Carolina Beach north to Scotts Hill. You can get the details about specifics on each one right here.

For true local and knowledgable service in waterfront homes in Wilmington, NC please contact us today at 1-800-497-7325 Ex. 3607 or email atbakerwayneassociates@ec.rr.com

Wilmington, NC Waterfront Neighborhoods

1. Beautiful Beaches and Waterways

Wilmington NC is situated on the southeast coast of NC and is bordered on the east by the Atlantic Ocean and the west by the Cape Fear River. The beauty and charm of Wilmington and the surrounding beaches equal or surpass any on the east coast. The many pristine beaches that we have to enjoy such as Wrightsville Beach, Carolina Beach, Kure Beach, Topsail Beach, Oak Island and Ocean Isle Beach are sure to captivate your heart.

2. Boating

The area’s many miles of coastline, rivers and sounds offer a variety of  watersports, boating activities, and quite a few harbors, marinas, and yacht clubs.

3. Fishing

Being located within minutes of one of the most protected inlets on the east coast, Wilmington offers bountiful fishing opportunities within minutes. Masonboro Inlet is located between the Southern tip of Wrightsville Beach and Masonboro Island. Also, the many creeks and bays located off banks channel and the waterways are a fisherman’s dream. You will see them fishing for drum, trout, and  flounder in the fall of the year.

3. Masonboro Island

Masonboro Island is an 8 mile long uninhabited island on the southern North Carolina coast between Wrightsville Beach and Carolina Beach and is part of the National Estuarine Research Reserve. Masonboro Island, only accessible by boat, is enjoyed by campers, surfers, anglers, and bird-watchers alike. The reserve consists of about 5000 acres, which about 4400 acres are tidal marsh and mud flats. The most northern end at Masonboro Inlet is the most popular area with its sandy beaches and protected waters. Any summer weekend you will see many boaters and campers prepared for a few days on the beach with tents, grills and water toys in tow.

4. Historic Downtown Wilmington NC

Wilmington is blessed with a beautiful and extensive historic district with magnificent and stately oaks, azaleas and oleanders. 230 blocks of downtown are on the The National Register of Historic Districts. The city embraces a lot of history and is fortunate that so much has been preserved.

5. Wilmington NC Real Estate

I cannot speak highly enough about the real estate offered in and around Wilmington NC, from the River to the Sea! Wilmington offers many affordable neighborhoods such as Whitney Pines to move up neighborhoods like Covil Estates with amenities, to luxury gated communities such as Landfall, or golf course neighborhoods like Porters Neck, and waterfront neighborhoods with marinas and boatslips such as Turtle Hall or Shinn Point . The choices are all right here in our great port city of Wilmington NC. Read the rest of this entry

608 North Channel Drive | Wrightsville Beach NC Real Estate – SOLD!

Waterfront Wilmington NC

Real Estate Listings

The Cape Fear Region’s many miles of coastline, rivers and sounds offer a wide variety of fishing, watersports and boating activities. And, to maximize the regions waterfront enjoyment, there are many neighborhoods offering waterfront homes in Wilmington, NC with canals, boatslips, and or boatramps. We offer the latest, detailed information on all Wilmington NC waterfront homes and communities offered for sale in Wilmington, NC. So just sit back, relax and click any of these Wilmington waterfront communities to search for your waterfront dream home now.

Waterfront Real Estate in Wilmington NC

Please feel free to contact us with any questions or requests about waterfront homes for sale or waterfront real estate in Wilmington, NC, or any location in the Cape Fear Region. We have lived here all our lives and can help match a neighborhood with a home and schools. We  know where the best shopping is and all the main attractions. If you are looking for a second home or investment property in Wilmington, NC, there are still real deals in the great coastal area, but you will need a real estate expert to help you. We are experienced real estate professional’s who has decades of home buying and selling experience in waterfront properties in Wilmington, NC area.

Marinas and Yacht Clubs

 click here for list

Wilmington NC offers an assortment of Marinas and Yacht Clubs for your boating enjoyment. They are located from Carolina Beach north to Scotts Hill. You can get the details about specifics on each one right here.

For true local and knowledgable service in waterfront homes in Wilmington, NC please contact us today at 1-800-497-7325 Ex. 3607 or email at bakerwayneassociates@ec.rr.com

Wilmington, NC Waterfront Neighborhoods

Now that tax reform has cleared the second-home roadway of tax inhibitions, you may find this an ideal time to buy a second property. Mortgage rates are continuing to make all kinds of home buying affordable.

The keys to buying a second home hardly differ from those applied to the purchase of your primary home:

• Consider why you want to buy a second home. For frequent visits to a retreat that’s close to home? As a gathering place for family and friends? As a rent-free escape from everyday life? As the ultimate retirement haven?
• Evaluate the potential use of your second home. Will you be renting it out part of the time? If so, check out tax consequences, local zoning regulations and rental-management availability. Perhaps a condominium will best suit your needs.
• Choose a second home as carefully as your first, for location, construction, energy efficiency, and all the other things that make for a smart purchase.
• Examine your financing options. Will you go it alone in a purchase? Will you team up with friends or relatives to split your expenses and vacation times?

We’ll be glad to help you explore the possibilities of fulfilling your second-home dreams. Please call or e-mail us.

Here are a couple second home options at Carolina Beach Homes in Carolina Beach

For all your Wilmington NC real estate purchase and additional buyer/seller advice please visit www.cbbaker.com

Mortgage companies and banks are working overtime these days processing new mortgages – which raises an interesting question: Will they ever run out of money to lend?

The chances of that happening are virtually nil, thanks to a highly complex investment market for mortgages that has grown immensely since the 1970s. The key players in this game are “Fannie Mae” (Federal National Mortgage Association), “Ginnie Mae” (Government National Mortgage Association), and “Freddie Mac” (Federal Home Loan Mortgage Corp.). These agencies, along with several private companies, turn homeowners’ mortgages into investment vehicles for individuals, pension funds, insurance companies and other large institutions. Altogether, these investment groups make up the bulk of what is known as the “secondary market.”

When a bank or mortgage company writes a mortgage, the loan is lumped with other mortgages in a bundle (or “pool”) that is often sold to one of the agencies. With the sale of the mortgage, the bank or mortgage company again has money to lend to another home buyer.

Fannie Mae, Ginnie Mae, and Freddie Mac differ as to the type of mortgage bundle they buy and in the type of investment vehicle they use to attract investors. But the process they use is the same: Assembling large packages of mortgages and issuing securities backed by the mortgages.

While the original lending bank may no longer hold the mortgage it gave to a home buyer, it still services the loan. That means collecting the monthly payments, keeping escrow accounts to pay for insurance and property taxes, and – through the agencies or companies that issued mortgage-backed securities – paying investors.  Coldwell Banker Sea Coast Advantage is a full service real estate company with in house mortgage brokers from Alpha Mortgage.  Contact  us about all your Wilmington NC real estate needs.  Visit www.cbbaker.com to search or catch us on mobile at mobile.cbbaker.com