If you really are anxious, then consider looking at Carolina/Kure Beach area. Some of the foreclosures are starting to price out to reasonable prices. We spent a bit of time looking in this general area last year, but felt most of the property was speculative resales .... and a lot of REALTOR owned.
Oak Island, NC
From your perspective do you really think that prices will drop another 18%? I see where some new condos that sold 3 years ago for upwards of $360,000 are selling for less than half and have never been occupied. Could they possible go lower than $155,000 and sell for $128,000?
I am a realtor with Coldwell Banker Sea Coast Realty. Prices are not at the bottom yet but who is to say when they will be there? There are some great buys out there right now and more to come. Yesterday a condo (Ocean Walk) on Oak Island just went under contract for $125,000 with 3 bedrooms, 3 baths and ocean views! I don't think they can go much lower than that! Do you? You can't even build one for that. I have done research on all of the barrier island in Brunswick and New Hanover Counties and Oak Island is by far the least expensive and it is beautiful here. With 65 beach accesses all with parking who wouldn't love Oak Island? If you need a realtor, I would be happy to help you. Call me at 910-524-0070
Cheryl Kuntz Lowery
Picking up a short sale would be a great investment. I believe that I saw a short sale listed in the MLS on Oak Island this week. If you get this response, contact me and I will look it up for you. Donna Grady 910-262-5390
There is a little way to go down before the bottom. Oak Island along with the entire beach areas including Wrightsville, Carolina, Kure, Surf Ciry, are all stagnant. If you are looking for investment I would recommend downtown Wilmington condos. They are much cheaper and have a much higher ceiling. This is my specialty. Feel free to give me a call - contact at my website.
I have a townhome in Southport that I would consider selling or renting. Due to a job opportunity in Atlanta, I relocated in May. This is an awesome investment opportunity, so if you would like to know more, please email or call me. 678 603-2015 or firstname.lastname@example.org.
I'm not sure if now is a good time to buy in this area but I've included a link below to condos currently for sale in this area.
Perhaps you can begin your research here and hopefully a local Realtor will chime in to say if now is a good time.
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