Wilmington NC Real Estate Guide

Once again, Wilmington NC made the top 100 list for the most desirable places to live. The cities chosen by Relocate America were based on future recovery and growth including employment, the real estate market conditions, recreational opportunities and the quality of life. In other words, Wilmington NC is a great place to live and play!

Wilmington NC Real Estate

If you are thinking of moving to the area, you will definitely need a real estate professional who is knowledgeable about the area. I am a life long Wilmington NC  Realtor with all the experience and knowledge it takes to be your Realtor for life. Just give me a call or email kaybaker@ec.rr.com.

You can also search for Wilmington NC homes or Wilmington NC real estate at www.cbbaker.com. There you can search by schools, maps, zip codes, price ranges, neighborhoods and more.

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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Kay Baker & Associates is excited to announce our Greater Wilmington NC School Guide.  Your one stop shop for all the information you need on New Hanover County, Pender County and Brunswick County schools.  This innovative digital magazine is the first in the Wilmington NC area.  Useful information is at your fingertips when selecting the best school for you or your child from Kindergarden to Higher College Education, whether it be a public school or private school.  We have it all here for you.  Please take time to visit, and explore the links to each school system.  All the information about registering for schools, what each library has on it’s shelves, special need centers in each school and contact numbers are all put together for you in an easy digital magazine.  There is also a link for Wilmington NC real estate to search for homes in a certain school district.  We want to make your life easy, especially when entertaining a move.  Click here for the Greater Wilmington NC School Guide. Search all Wilmington NC real estate on www.cbbaker.com and let us know if we can help.

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