Wilmington NC Real Estate Market

Sunny days are definitely in sight for the real estate market in Wilmington, NC as sales contracts written have soared. A big credit to the stimulus package according to Tim Milam, President of Coldwell Banker Sea Coast Realty. “We saw a 35% increase in contracts written in March from February” stated Mr. Milam. In addition there were $36 Million worth of contracts written Monday and Tuesday last week alone. The most volume is being seen in the under $300,000 range, as first time home buyers jump in to take advantage of the $8000 stimulus. Of course, the fact that interest rates are at historic lows and the Spring selling season is here, are also key factors in the Wilmington NC real estate market.

Find out today if you qualify for the $8000 Stimulus, call or email kay@cbbaker.com. Start your online search for homes in Wilmington, NC at www.cbbaker.com. You can search by neighborhood, schools, map, zip, price and more. I can also send you detailed information on foreclosed homes and short sales. Just call me today at 800-497-7325.

Has the Housing Market Bottomed?

National existing home sales increased in September by the largest amount seen in several years. Are we actually seeing signs that the real estate market has bottomed out? Home sales increased but prices are down 9% from a year ago, nationwide. Some analysts are predicting home prices could fall another 10% as the inventory of foreclosures increases. 35 to 40% percent of recent sales are either foreclosures or short sales according to the National Associaton of Realtors. Read the rest of this entry