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…

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.

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.

To view the home pictured please visit www.AskMeAboutWilmington.com

Why is it a good time to look at purchasing a second home?

• Prices are down considerably
• Interest rates are at historic lows
• Tax benefits
• Strong demand for renters

Wilmington, NC Real Estate

Wilmington NC offers a multitude of real estate buying opportunities for seaside cottages, condos, duplexes, downtown riverfront lofts, or golf course properties. There are also foreclosed homes and short sales available at the local beaches near Wilmington NC. We can provide you with a detailed list of those homes, in addition to the very best priced homes on the beaches including Wrightsville Beach and Carolina Beach, NC and Figure Eight Island.

Kay Baker specializes in Wilmington, NC Real estate, Wilmington, NC homes and Wrightsville Beach homes. She can provide you with detailed real estate information on New Hanover County, Brunswick and Pender Counties. Contact Kay at 910-232-0363 or 800-497-7325 or kay@cbbaker.com.

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.

Beaches and Recreation on Figure Eight Island

Figure Eight Island is well know for its proximity to over five miles of sandy white beaches, sparkling blue waters and abundant natural resources. The area boasts tidal flats that are perfect for swimming, boating, fishing and kayaking. Or, you may take to the ocean for a day of deep sea fishing, windsurfing or just relax by the water’s edge.

Wildlife at Figure Eight

Figure Eight island is ideal for wild life conservation and endangered species such as sea turtles, piping plovers, sea beach amaranth, and marine mammals are closely monitored. Nesting and migrating birds have been frequently seen by birdwatchers on Figure Eight Island. Water lovers are sure to enjoy a school of dolphins from the beachside.

Figure Eight is a Popular Tourist Destination

Figure Eight has long been a popular tourist destination for celebrities and politicians. Former Vice President Al Gore has been know to rent a beach house at Figure Eight, and John Edwards owns a beach house there. John Travolta and other celebrities are frequent visitors. Scenes from Dawson’s Creek have been filmed here and in nearby Wilmington.

Figure Eight Island, NC Real Estate

Homes on Figure Eight Island, NC are unlike any other oceanfront property you will find anywhere. The oceanfront homes are designed for the panoramic views of the Atlantic Ocean and range in price from $1,895,000 to $4,850,000, while soundside homes appeal to the boating enthusiasts, and range in price from $2,100,000 to $,3,995,000.  230 N Beach Road is a stunning six bedroom, oceanfront beach home with direct beach access on exclusive Figure Eight Island. All bedrooms have private balconies; enjoy enormous rocking chair covered porches. This home has been beautifully renovated and is fully furnished. It is located on the most desirable location on the island with wide expanse of gorgeous beach and dunes.

Figure Eight Island offers homeowners the ultimate in privacy and security, and is located just minutes from the conveniences of Wilmington and Wrightsville Beach. Whether you may be looking for oceanfront or waterfront homes at Figure Eight Island, come and enjoy the beauty, serenity and casual atmosphere of Figure Eight Island for yourself. For detailed information on Figure Eight Island Real Estate , please email kaybaker@seacoastrealty or visit cbbaker.com today.

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