Wilmington NC Real Estate Guide

Wilmington NC Jobs Increase

There are signs of a recovering economy as a recent jobs report listing cities with jobs growth over 1% for period July-October 2009, listed Wilmington NC in the top ten cities for jobs growth during that period. The list was compiled by the Bureau of Labor Statistics. There were 77 cities that saw jobs increase during that period and 19 cities saw growth of over 1%. Wilmington NC jobs increased by 2.1% while Merced, Calif saw a 2.7% increase and Raleigh-Cary 1.3%. That is really good news for the Cape Fear Region.

The housing market seems to be experiencing a comeback, as the market has had 4 consecutive months of sales increases over 2008.

Wilmington NC Real Estate

If you are thinking about purchasing Wilmington, NC real estate, please take advantage of the $8000 tax credit. What an opportunity for homebuyers! And, you can search for Wilmington NC homes by neighborhood, schools, maps, zip codes, price and more at www.cbbaker.com. Please feel free to contact me at kaybaker@ec.rr.com or 910232-0363. We are here to assist you with your real estate needs every step of the way.

Pine Valley Estates| Wilmington NC real estate: OPEN HOUSE Sunday 12/6 1-4 pm | http://www.relocationwilmingtonnc.com/ via @addthis

Home sales are on the rise now for 3 months in a row. That is certainly a good sign that the real estate market may be rebounding, finally. And, the historic low interest rates and the $8000 tax credit have definitely given the market a boost.

New home sales have risen more in the last month than they have in 8 years. New construction is busier now than any month since last fall. But, new home sales are still down 72% from 4 years ago as inventories remain high.

Our own Wilmington, NC real estate market is seeing signs of improvement, as well. First time home buyers are jumping in to take advantage of a once in a lifetime opportunity. Second home and vacation home buyers are beginning to see the benefits of purchasing a dream home on the beach, whether it be Wrightsville Beach, Carolina Beach or Topsail Beach, NC real estate.  Now is the time to take advantage of this market. Everything is on sale now…

To begin your search for Wilmington, NC homes, please log on to my website at www.cbbaker.com or email me at kay@cbbaker.com. I can send you a detailed list of foreclosures, short sales and homes price under $100 ft.

Now is the Time to Purchase A Second Home

If you are thinking about purchasing a second home, here are a few good reasons to go ahead and make that purchase. Wilmington, NC real estate prices are very attractive right now and interest rates are at historic levels. In addition, there is an abundance of available beach homes, condos, townhomes or just a nice comfortable brick ranch homes for sale near the beach. Also, don’t forget the foreclosures and short sale opportunities right now.

Uncle Sam also has some tax savings for you on second homes, as well.

Mortgage interest and property taxes on a second home may be tax deductible, just as the interest on your primary home.

Interest on a home equity loan is tax deductible, whether for your second home or not. There are some limitations on the deductibility of all equity loans. Be sure to check with your tax advisor.

You may be able to deduct rental expenses including depreciation if your second home is considered to be a vacation home.   Tax laws are complicated, so be sure to check with your tax advisor.

Convert your second residence to a primary residence for two years for either you , your spouse, or both of you and shield gain from capital gains tax. You can qualify for this break if, during the five year period leading up to the sale date, the property was owned for a total of two years and used by you as a principal residence for a total of two years. What establishes a principal residence is virtually a laundry list of factors. Again, be sure to consult with your tax advisor.

Remember, Wilmington NC homes beach homes are on sale right now. You can choose from a condo on or near the beaches, or maybe a  beach home for the family on Figure Eight Island, NC or Wrightsville Beach, NC. We have it all. Just send me your specific criteria and we can find the best deal for you. Also, search for homes on my website by price range, neighborhood, map, zip code and more at www.cbbaker.com.

Fantastic positive news was released from the National Association of Realtors today.  The news release stated that the historically low interest rates combined with the $8,000 credit for first-time ( or homeowners who have not purchased a home in 3 years) helped raise the pending home sales contracts, for the third consective month.

The Pending Home Sales Index a “pending prediction” indicator based on contracts signed in April, rose 6.7 percent to 90.3 from 84.6 in March,
which is even above the April 2008 index of 87.5.

To get the first time home buyer credit of $8,000, contracts must be firmed up by November 30, 2009 to receive the credit, so we look forward to an increase in home sales.

The Wilmington NC real estate market has also enjoyed an increase in pending sales contract and still is in a a strong postion to continue this trend.

To search all Wilmington NC real estate and find out about the $8,000 tax credit please read more about the Wilmington NC real estate market here.

With homes sitting on the market longer these days, home sellers are giving agents more incentive to show and sell their homes. Some sellers are increasing the commission to above 8% with a higher split being paid to the selling agent. My policy has always been to let the seller make the decision as to exactly what the commission rate will be whether it is 6,7,8 or even 10% for selling Wilmington NC real estate. If you want more agents to show your home with all the inventory to choose from, then you need to increase the incentive. In addition, with the higher rate, sellers may get perks such as featured listing exposure on Realtor.com and/or Cruise for Two and an “advertising blitz”.

To sell your Wilmington NC home for  the most money in the shortest length of time, give me a call at 910-232-0363 or email kay@cbbaker.com. We can sell your home in 39 days! Guaranteed! (Certain limitations do apply,of course). Contact me for the details.

Many  consumers are now taking a serious look at the many buying opportunities in the second home real estate market in Wilmington, NC. What better time to purchase a vacation home, retirement home or perhaps a residence that may be appealing to vacationers and possibly create rental income. Second homes or vacation homes can include beach cottages, mountain cabins, or lake homes or condos and downtown or riverfront lofts. Of course, the most popular are beach or seaside cottages. Read the rest of this entry

Loans are Available

Now is the time to buy! There are great loans available as low as 6% and some are 100% financing. First time home buyers can receive $7500 tax credit! Read the rest of this entry

Why buy homes now in Wilmington, NC?

What a great time to buy real estate in Wilmington, NC. If you are a buyer looking for Wilmington, NC real estate, you are in the driver’s seat. Your timing could not be better. Read the rest of this entry