Wilmington NC Real Estate Guide

Masonboro Island NC on July 4th

The efforts of Masonboro.org in educating people who visited Masonboro Island on the weekend of the 4th was successful.  The volunteers went around in red shirts and handed out trash bags so the people could take their trash with them.  Richard Johnson the founder of Masonboro.org says “that we do not need any more rules.”  The crowds and the trash from prior years celebrations caught the eyes of lawyers looking to make rules for the Island Reserve.  The Masonboro.org group stepped up and helped police the island.  The crowds were smaller and well behaved this year, so their efforts seemed to have worked.  Thank you for your dedication.

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 to  Masonboro Island, normally calm and peaceful, has recently seen a little too much partying and alchohol consumption on big Holiday weekends such as July 4th and Labor Day. Boaters from all over the Southeast join in on a big party weekend.  So, if you plan to visit the island, be sure to keep your alcohol consumption to a minimum and take your garbage with you.

Masonboro Island is also located only minutes from the mainland where you will see prestigious waterfront communities with private docks, marinas, and boat ramps for homeowners. One of the most conveniently located communities to Masonboro Island is Shinn Point, located straight across from Masonboro Inlet, which is one of the most protected inlets on the East coast. From Shinn Point, you can be in the ocean in just minutes for a day of deep sea fishing or just cruise over to Masonboro Island and relax in the sun.

For complete details on all waterfront communities in Wilmington, NC or Wilmington, NC real estate, please feel free to contact me or go to my website at www.cbbaker.com.

The National Association of realtors has posted that the existing home sales rose again in September.  This affirms that a sales recovery has begun. 

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.

A new law will allow investors who have bought homes to renovate and flip to get those homes back on the market immediately. Under the previous guidelines the investor must have owned the home for at least 90 days. As a result, investors have been skeptical of buying foreclosures because of the carrying expenses during the 90 day hold period. There are some guidelines for investors and buyers under the new ruling: 1) The property must not have a pattern of being flipped by investors. 2) All transactions must be “arms length”. In other words, no related parties. 3) Lender may require documentation of renovations if sales price is inflated by 20% or more or a second appraisal may be required.

For more detailed information about Wilmington, NC real estate foreclosures or short sales available , please contact me kaybaker@ec.rr.com. I will send you  a detailed list of Wilmington, NC homes right to your email. Or, if you are a homeowner and need assistance in selling your home, we are experts in the short sale and foreclosure market, too.

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The Holiday Season is now officially underway with the kicking off the annual Holiday Flotilla in Wrightsville Beach,  NC.  This highly anticipated tradition is rated among the top 20 must see events by the Southeast Tourism Society and is held every year on the weekend following Thanksgiving. Thousands of viewers both visitors and locals jockey for position along the waterway in anticipation of the many boats decorated with animated characters and every color of twinkling light from stem to stern.  And this year was no different, especially with the perfect weather for this anticipated event. The themes this ranged from “Wizard of Oz” , “Christmas Shaggin” to  the winner “Santa’s Flight Over Twin Moonlights”.   

It was a wonderful event that ended with a fabulous fireworks display showcasing the great holiday spirit of the locals and serving as just another reminder why Wilmington is still one of the most desired places in North Carolina to live.  We hope your Thanksgiving was also a treasured family tradition and maybe next year you’ll consider joining us for the 27th annual North Carolina Holiday Flotilla.  Happy Holidays!

For complete details on all annual events and attractions in the Wilmington NC area, please visit my website at www.cbbaker.com.

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.

Your home will sell. There’s no question about that. However, if you put your home on the market without preparing it for sale, you may have a long wait for an offer.

And, the exterior of a home and the grounds surrounding it create strong first impressions on a home buyer-as well as family, friends and neighbors. If a property shows shoddy upkeep, faded paint and unattractive landscaping, prospects viewing it from the curb may assume more shabbiness inside.

If you are thinking about selling your home and want to boost its appeal to drive-by buyers, follow these suggestions here- then sit back and watch your home sell for top dollar!

1. Pretend you are shopping and drive slowly by. Then, get out of the car and walk toward your property critically as a buyer would, jotting down what you notice. Also, see how your home looks after dark. Many home buyers use weekday evenings to drive by homes and weekend days to visit them.

2.The Big Picture.. Try to find a memorable word or phrase that best describes your home. Is it inviting, cozy, elegant, well maintained or interesting? Or is it run-down, messy, ordinary, dirty or scary looking?

3.Punch up your home’s style by ensuring its attractive architectural features get noticed. Use slightly contrasting paint color that coordinates with the color of the home to emphasize special features such as columns, trim, porches, shutters, doors and so on.

4.Landscaping not only attracts the attention of buyers, it can increase the value of your home. Remember, plantings on the property should decorate rather than dominate the home. Remove old shrubs and trees that have over grown their location, no longer look healthy or block views of doors, windows or walkways. Simplify beds so they look net and easy to maintain.

5. Add extra pizzazz and interest to just two or three areas outside by using a decorative planter or potted flowers, seasonal banner, window boxes, front porch swing, garden bench or bird bath.

6. Make sure your outdoor  hardware reflects up to date styles. Mailboxes, house numbers, screens, light fixtures, railings, door handles and kick-plates can adorn a home or detract from it.

7. The most important impression you want your home to convey is that it is clean and well maintained. First, minimize or do away with clutter-lawn ornaments, grills, furniture, yard tools or toys. If your home’s exterior paint is faded or peeling, invest in a fresh paint job in a neutral color scheme. Buy or rent a pressure washer and use it to give your deck and driveway a nice fresh look. And, don’t forget to clean the windows!

We specialize in selling homes in or near Wilmington, NC and would be happy to take a look at your home and provide suggestions about how you can enhance its curb appeal and sell your home for top dollar! Just check out this home in Gorman Plantation, that we recently sold in one day!

There’s no obligation, just call or email today.

Landfall is conveniently located between Wilmington, NC and Wrightsville Beach, NC. It’s 2200 acres of premier real estate is also situated on miles of pristine waterfront property with magnificent views of Wrightsville Beach, NC.

Landfall is also home to well known golf courses such as The Pete Dye or Jack Nicklaus Course. The country clubs at Landfall offer 14  tennis courts, olympic size pool, state of the art fitness center, fine dining and social events year round.            

Landfall NC real estate offers diverse architecture, wooded homesites, and panoramic views of the intracoastal waterway, fairways, ponds and the beaches. Whatever your heart desires in luxurious country club living, it is here at Landfall near Historic Wilmington, NC.

Homes for sale in Landfall range in size and price  from 1650 sq ft patio home at Prestwick to a stately 10,000 sqft Greek Revival home priced at $4,919,000. There are presently 152 Landfall homes for sale, 6 homes are pending and are priced under $1,000,000. In 2009, there have been 16 homes sold in Landfall according to WRAR.

To search for homes in Landfall or Wilmington NC real estate including short sales or foreclosures, please log on to my website at www.cbbaker.com or contact me at kaybaker@ec.rr.com or 910-232-0363. I would be happy to send you a list of homes for sale.

On Saturday, three  Coldwell Banker Realtors held a marketing event at the gated community of Figure Eight Island, NC. Figure 8 Island, NC  is only accessed by a bridge and Open House events are not allowed. For instance, you cannot even cross the bridge without approval from the homeowners, and an event has to be first approved the Homeowners Association. There are no signs allowed, so strategic marketing efforts are necessary. Direct mail to Figure Eight Island homeowners, email marketing to Realtors, interoffice memos, and internet marketing proved to be very successful as the turnout was great! Read the rest of this entry