Wilmington NC Real Estate Guide

Foreclosures Wilmington NC

The number of foreclosures listed in the Wilmington MLS are at an all time high of 75. These foreclosed home range in price from $28,000 to $2,163,055 in Porters Neck Plantation and everything in between including homes at Landfall, Northchase, Pine Valley, MacCumber Terrace and even waterfront communities such as Tangle Oaks.

Short Sales Wilmington NC

Short sales are even higher in numbers with a record 152 short sales listed for sale in the Wilmington, NC area. You will find short sales at prestigious Figure Eight Island, Landfall, Wrightsville Beach, NC, Carolina Beach, NC, Historic District, Waterfront communities such as Turtle Hall and Sandfiddler Point, Whitney Pines and Somerset Place. As you know a short sale is when the home is listed for less than the payoff due the lender. They are always subject to lender approval and the process is usually a very lengthy one.

For a complete list of foreclosures and short sales, please call 800-497-7325 Ex. 3607 or email me at kaybaker@ec.rr.com.  You can also search Wilmington NC real estate at www.cbbaker.com by map, neighborhood, price, zip code, schools and more.

Now is the Time to Purchase A Second Home

If you are thinking about purchasing a second home, here are a few good reasons to go ahead and make that purchase. Wilmington, NC real estate prices are very attractive right now and interest rates are at historic levels. In addition, there is an abundance of available beach homes, condos, townhomes or just a nice comfortable brick ranch homes for sale near the beach. Also, don’t forget the foreclosures and short sale opportunities right now.

Uncle Sam also has some tax savings for you on second homes, as well.

Mortgage interest and property taxes on a second home may be tax deductible, just as the interest on your primary home.

Interest on a home equity loan is tax deductible, whether for your second home or not. There are some limitations on the deductibility of all equity loans. Be sure to check with your tax advisor.

You may be able to deduct rental expenses including depreciation if your second home is considered to be a vacation home.   Tax laws are complicated, so be sure to check with your tax advisor.

Convert your second residence to a primary residence for two years for either you , your spouse, or both of you and shield gain from capital gains tax. You can qualify for this break if, during the five year period leading up to the sale date, the property was owned for a total of two years and used by you as a principal residence for a total of two years. What establishes a principal residence is virtually a laundry list of factors. Again, be sure to consult with your tax advisor.

Remember, Wilmington NC homes beach homes are on sale right now. You can choose from a condo on or near the beaches, or maybe a  beach home for the family on Figure Eight Island, NC or Wrightsville Beach, NC. We have it all. Just send me your specific criteria and we can find the best deal for you. Also, search for homes on my website by price range, neighborhood, map, zip code and more at www.cbbaker.com.

Figure Eight Island swing bridge may soon be only swinging once an hour instead of twice. Figure Eight Island is a private oceanfront island only minutes north of Wrightville Beach and Wilmington, NC. It is only accessible by a swingbridge. Figure 8 Island is a popular vacation destination for the elite due to little traffic or tourists. You will find miles of pristine sandy white beaches, a yacht club and marina, tennis courts and a boat ramp. Visitors can enjoy swimming, fishing, skiing, birdwatching or just relaxing on the gorgeous beaches.
The change in the swing bridge schedule would make it the same as the one hour opening for the Wrightsville Beach, Surf City and Sunset Bridge.

There are several custom homes  for sale at Figure Eight Island. They range in price from $1,995,000-$4,475,000. Many of these custom homes are located on the beautiful white beaches of Figure 8 Island. There are also homes on the sound front with private boat docks for easy access to the

intracoastalway or the ocean for deep sea fishing. For complete details on Figure Eight Island real estate, please go to www.cbbaker.com or contact me directly at 910-232-0363. You can also text message 44133 textcode 14041 and you will receive mobile virtual tours to your phone!

Great Time To Purchase A Vacation Home

What a great time to buy the vacation home! You have always dreamed of owning your own cabin in the mountains or an oceanfront home or condo. Well now is the time to invest in this once in a lifetime opportunity. According to the National Association of Realtors the housing market may be already starting a rebound as contracts written in August jumped and home sales are up in popular vacation spots such as Florida and Arizona. Read the rest of this entry

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

Figure Eight Island, NC

Figure Eight Island, NC is located just north of Wrightsville Beach, NC . It is a private island, only accessible by a swing-bridge with a gatehouse and is bordered by the Intracoastal Waterway and the Atlantic Ocean. The island consists of 1300 acres and approximately 441 homes. Before the turn of the century,  Figure Eight  was only home to horses roaming on the dunes. Figure Eight Island today is a beautiful coastal community offering the ultimate in privacy and security and just minutes from the conveniences of Wilmington and Wrightsville Beach, NC. Figure Eight remains untouched by commercial developments like hotels and shopping centers, although there are many conveniently located nearby. Read the rest of this entry