Wilmington NC makes the news again.  This time for being the #79th  most searched real estate market on Realtor.com website for September.  This is good news.  The market has been slowly picking up and the buyers are starting to look again.  With the interest rates below 4%, now more than ever is a great time to buy.  Realtor. com was one of the first real estate websites that the public could search all over the United States.  We have been with them for over 17 years.  It is a great tool to have to expose your properties to the public.  In addition to the regular service Realtor.com provides, we also “Showcase” our listings so that we can add more information, virtual tours  and photos to each or our listings.  We also have “Featured Homes” on Realtor.com.  When someone types in Wilmington NC in the search term, our listings are featured at the top and bottom of the screen in a revolving sequence.  We do get more public hits on the Featured Homes and think that this helps increase exposure on each home.  Being progressive and proactive are vital in this real estate market, and Kay Baker and Associates have always tried to stay above of the trends.

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.

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. The chief economist for the National Association of Realtors remains positive and says the bottom is near. The rebound in California seems to be taking hold in other areas. And, for the second month in a row, inventories have dropped. Those are really good signs of a rebound.

The Wilmington NC real estate market has remained fairly stable as compared to the housing market nationally.  We have  experienced some foreclosures and short sales, but not nearly the magnitude of other parts of the country.

What a great time to buy! Prices are lower than they have been in years, interest rates are excellent and buyers have a huge inventory of homes to choose from.  Start your home search today at www.cbbaker.com.

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