Home Buying in Wilmington>Question Details

James, Both Buyer and Seller in Laurinburg, NC

My son is a freshmen at UNC-W. After first year, we want to buy home for him/ resale in 4 yr.- Parker farms area, would that be good to buy/ resale ?

Asked by James, Laurinburg, NC Mon Aug 19, 2013

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Hello James~

Parker Farms is a wonderful area that is centrally located to so much! As you have probably noticed with home prices and interest rates on the rise, the market is moving once again.

I am the Wilmington Office Branch Manager of CertusBank Mortgage located just off of Military Cutoff Road. We offer a program that is specifically designed for the purpose of purchasing a home for your college student. It is designed to help families who are buying or refinancing a home for their college student and comes with many benefits for you the parent and for your child.

I would be happy to give you more information about this loan product, please feel free to call me for additional information.

CertusBank Mortgage
Lourdes Best
Branch Manager
Mortgage Lending - Wilmington
NMLS #341095

910.509.0300 Office
910.508.6696 Mobile

LourdesBest@CertusBank.com
0 votes Thank Flag Link Tue Sep 3, 2013
Thanks for the outreach....your request and the property proposed could well be a great fit ....I have been a practicing realtor many years and have learned that it is difficult to say without understanding your personal wants, needs and abilities...lots of good properties out there to consider for various reasons.....this is a big investment risk / opportunity for most folks and it needs to be thought thru carefully before jumping at first property that attracts you...
Thanks...
Joe Rumsey
NC Licensed Real Estate Broker 49412
Wilkinson & Associates ERA
joe@wilmingtonreal.com
910 617 5814
0 votes Thank Flag Link Fri Aug 23, 2013
Hi James, please keep me in mind for any of your mortgage needs or questions. I have an A+ rating on the BBB and some of the lowest deliverable rate and fee combinations in the country. If you are interested in an honest and highly recommended Mortgage professional please contact me.

All the best,

Fritz Walter
VP of Retail Sales
Toll free: 800-359-1996 x551
Direct: 203-783-4551
Email: fwalter@totalmortgage.com
Alt email: fritz@post.Harvard.edu
NMLS ID: 387922
Visit my webpage: http://www.totalmortgage.com/bankers/fritz-walter/
Company Website: http://www.totalmortgage.com
Total Mortgage Services, LLC - NMLS #2764
Licensed in: CT, FL, MD, NJ, NC, SC, TX, VA
0 votes Thank Flag Link Thu Aug 22, 2013
Thank you for the follow-up. As time permits I will try to get in to look at your listings.
Flag Thu Aug 22, 2013
Good Morning James...good thinking...I have lived in the area around UNCW many years and go thru this process frequently for others for same reason....several considerations in play ...you are on front end of anticipated growth in price period for immediate area and that is a good reason ...wide variety of properties to consider....here to help if needed...Thanks for the Inquiry ...Joe Rumsey
0 votes Thank Flag Link Tue Aug 20, 2013
It would be good to look at my listings at Mayfaire Townview. They are right there in the middle of Mayfaire Town Center and will have a good resale value at the end of the Senior year or could turn into a great second home or even a starter home for you college grad. If not i get calls for rentals every day. They are worth a look.
0 votes Thank Flag Link Mon Aug 19, 2013
Hello James,
Congratulations on your son getting into UNCW. He will love it and the Wilmington area. The homes on Parker Farm in Parkside start in the $400,000 range. There are some homes listed Trulia on Parker Farm that say to be built starting at 180,000, but they are not on Parker Farm. Some great neighborhoods around UNCW and Mayfaire, are Windemere, Long Leaf Acres, College Acres, Inland Greens and other Patio Home communities that enjoy a good resale. What price range are you thinking about? If you would like to search online, please visit http://www.WilmingtonNC-realestate.com. The Mayfaire are is 28405 and the UNCW area is 28403. Any questions, just let us know. bakerwayneassociates@ec.rr.com
0 votes Thank Flag Link Mon Aug 19, 2013
Yea, not familiar with the area , looking for small 3 bed/2 bth home 1300-1600 sq. feet in nice established neighborhood that could be resold easily after he grad. If he gets a job there , then he might stay. Who know , but throwing money away renting or on dorms after the first year is not what we would like to do / price range is up to about $140,000
Flag Mon Aug 19, 2013
James,

There are many pricepoints and types of properties; condos, patio homes and single family in the area east of UNCW including the Parker Farm area that would be a great fit for your son. I have no doubt buying a house for this purpose would be a great strategy to lower your college housing cost. After your son graduates you could easily continue to rent or sell.

Our market is doing quite well again and we just had our best July since 2006. However, prices will try to inch up over the next year, but I expect they will remain low and still be very attractive next spring. Currently our prices are where they were in 2004 midyear so your timing is great.

Please contact me and I will be happy to help you sort through your options.


Go Seahawks!

Michael Pirkey
Intracoastal Realty
910 262-7246
0 votes Thank Flag Link Mon Aug 19, 2013
Hey James, I hope you are doing well. That is a great area and centrally located between UNCW and Wrightsville Beach. We are seeing prices on the rise substantially across the area so you will have appreciation playing in your favor, but you may want to crunch the break even numbers a bit at the higher price point. If you want to talk through it feel free to call at any time. Thanks!

Jeff

Jeff Lesley
910-297-7071
JLesley@Century21Sweyer.com
0 votes Thank Flag Link Mon Aug 19, 2013
Hi James,

The Mayfaire area is a wonderful area to invest and is always very desirable for buyers! With proximity to UNCW and the beach, it is also highly sought after area for rentals if you are possibly considering a long term investment.

Please feel free to give me a call to further discuss what would work best for your family, I would be happy to help!

Kindly,
Summer Stephenson
Intracoastal Realty
(910) 279-6234 Mobile
sstephenson@intracoastalrealty.com
0 votes Thank Flag Link Mon Aug 19, 2013
Thanks , we moved him in this past weekend to Hewlett Hall. But he want to stay the summer down there next year , and we were thinking about just buying a 3 bed / 2 bath 1600-1800 sq. feet home in an area that could be resold after graduation , 2017 . It might be kinda early to start looking , but I do not want march , 2014 to get here and we have not even started a conversation on this. For now We are thinking short term , but adding value to the purchase and making money on the deal , instead of renting. If he finds work in Wilmington after gra. / then we just might give I'm the house.

Your thoughts on this matter Will be appreciated.

James - Laurinburg, NC
Flag Mon Aug 19, 2013
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