Kudos for UNCW’s Debra Saunders-White.  The Greater Wilmington Business Journal announced that President Barack Obama selected UNCW’s Debra Saunders-White to serve as the new deputy assistant secretary for higher education programs at the U.S. Department of Education. Saunders-White will move to Washington in early May. Saunders-White will oversee programs to encourage low-income and first generation students along with students with disabilities to pursue postsecondary education. Read more here…

UNCW is an integral part of the Wilmington NC community.

Facing a budget deficit, the city of Wilmington NC would like to have your input on the 2011 budget with a little challenge.  To take the challenge you can visit www.cityofwilmingtonbudgetchallenge.com

Everyone wants to get the lowest mortgage interest rate when shopping for a Wilmington NC home. The rates have been at high 3′s and low 4′s the last couple of months. Freddie Mac just announced this week after it’s Primary Mortgage Market Survey that the rates for fixed and adjustable have risen again for the third straight week. 30 year rates hover around 4.46% up last week from 4.40%. It is still a great time to purchase a home. The housing prices are at a low, coupled with rates under 5%, it is a win win situation. To search all Wilmington NC real estate, please visit www.cbbaker.com. We have lenders that can give you a current quote and do a pre-qualification to get you started.

For the tenth straight month, Wilmington NC real estate has shown an increase over last year, by number of homes sold.

The average sales price of homes sold in Wilmington, NC was down slightly over year end 2009. And, if you look at the most active zip codes: 28403 actually had an increase of 2.4% over last year; 28412 had a small increase .06% over year end 2009. Homes sold at 96.4% of asking price; 28405 had an average selling price of $264,322 with an increase of 5.7% from year end 2009. The average list price had increased 6.7% from year end. But, 28409 zip code had a 3.9% decrease in average selling price over year end 2009 and the average list price decreased 4.4% over year end. Homes sold at 93.6% of asking price. The average selling price in zip code 28411 decreased 6.3% over year end 2009 and the average list price decreased 8.1%. 28412 average selling price increased slightly and the average list price decreased slightly.

Overall, we saw a positive increase in units sold in the second quarter, but average sold price from second quarter 2009 was down 4.2%.

2010 does offer excellent buying opportunities with median home prices down 7.9% from year end 2008; foreclosures and short sales are excellent buys; mortgage rates are at historic lows; and there are 2889 homes on the market in the six zip codes in and around Wilmington, NC.

Now is definitely the time to buy Wilmington NC real estate. If you are searching for a home, just log onto my website at www.cbbaker.com and there you can search by schools, zip code, neighborhoods, map and more. If you would like a list of foreclosures and short sales sent to your inbox, just email kaybaker@ec.rr.com.

Many homeowners in the Wilmington NC real estate marketplace are finding themselves with a mortgage balance higher than they can even sell their home for. This puts the seller in a “short sale” situation. This means that the lender may agree to accept less than is actually owed on the property.  And, not all lenders will agree to accept less than what is actually owed, especially if you are not in default.  If you find yourself in this situation, you need a qualified real estate professional to guide you through this process. It is not an easy one, trust me. We will assist you in putting together a hardship package for the lender that may include a financial statement, hardship letter, bank statements, income statements, an appraisal on the property and even a listing agreement to prove that the property is on the market.

If you are in need of assistance, please do not hesitate to call or email kay@cbbaker.com. We are happy to answer any questions you may have concerning short sales and foreclosures in Wilmington, NC. And, if you are a buyer, we can send you a list of short sales and foreclosures, or you can search short sales and foreclosures.

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.