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Market Conditions in Wilmington : Real Estate Advice

  • All410
  • Local Info53
  • Home Buying125
  • Home Selling19
  • Market Conditions25

Activity 22
Wed Dec 26, 2012
Janine Naylor answered:
Hello again. It was built in 2000, sold in '03 and again in '06. It is currently for sale with a list price of $147,900. It has 3 bedrooms, 2 baths and 1125 sq ft.

If you would like to see this property, please feel free to call me.

Janine Naylor
Century 21 Sweyer & Associates
910-409-0457
... more
0 votes 1 answer Share Flag
Wed Dec 26, 2012
Jeff Lesley answered:
It was purchased in 2007 and has since sold as a foreclosure in 2010. Other than those two sales it has not changed hands since 2001. It currently is not on the market but if you would like me to send you other homes in Alamosa Place I can send them your way.

Thanks

Jeff
910-297-7071
JLesley@Century21Sweyer.com
... more
0 votes 3 answers Share Flag
Mon Jul 9, 2012
Heather Smith answered:
Have you seen the home yet? Do you have an agent working for you? Let me know if you have any questions about this home or proccess of making an offer. 910-297-7390
0 votes 8 answers Share Flag
Wed Jun 29, 2011
El Brant answered:
The median price of residential homes sold in New Hanover County (for April 2011) was $182K, a 4.2% drop from a year ago. The average home is on the market 151 days and sells for 93% of the list price. Please bear in mind that this covers all price ranges, all areas, and all types of residential (corporate and privately owned) property. More specific data should be examined regarding any home you are considering.
Let me know if I can assist you,
El

Your REALTOR®
910.264.6515
... more
0 votes 1 answer Share Flag
Wed Mar 30, 2011
Gerard Dunn answered:
In the DC area - rents are up 8% over this past year.

Good Luck!

Gerry Dunn
Associate Broker
Serving Maryland, D.C. and Northern Virginia
0 votes 3 answers Share Flag
Sat Apr 24, 2010
Caroline Dugas answered:
Because Landfall is comprised of many different neighborhoods and types of homes, you can not just look at Landfall as a whole. The only time I am comfortable with looking at price per square foot is if you have identical homes/floor plans/finishes. Finish quality can vary greatly in Landfall too. There are some incredible deals in there right now, and if you would like more details or a very frank opinion of what you are looking at, feel free to give me a call. You should definitely have an agent who knows what to look for for comparables. Thanks! Caroline Dugas ... more
0 votes 2 answers Share Flag
Thu Jan 21, 2010
Kevin Mcrill answered:
The Wilmington condo market has dropped in price 10-30% in this downturn but appears to have stabilized along with the rest of our market. It would be irresponsible of me to forecast what prices will do in the next two years but historical data would suggest a 4-5% return. That does not include the recent "bubble" in the market that was the cause of this recession. There are no condos in foreclosure presently listed in the 28405 zip code but two sold in the past year. The 28405 zip code is pretty diverse and I'm guessing you are interested in something near Wrighsville Beach by the 300k price. There are a number of stick built home in foreclosure and I would be happy to email them to you or set up a portal that will email foreclosures that meet your criteria as they come on the market. You can reach me at 910-538-6333 or send me an email ... more
0 votes 1 answer Share Flag
Sat Oct 25, 2008
Erin Gora answered:
It does seem low. However, I have not been inside the house, so I can't say that it was too low. Until you see the house in persona and have it inspected, you just don't know what kind of condition it's in. It looked good in the pictures, but pictures can be deceiving. Hope that helps. You can email me at egora@intracoastalrealty.com if you need help with anything else. ... more
0 votes 1 answer Share Flag
Sat Oct 25, 2008
Erin Gora answered:
I don't see which house you are talking about. Do you have an address?
0 votes 1 answer Share Flag
Wed Mar 2, 2011
Victory Property Management answered:
Well Kyle, if you ask ten people that question you'll probably get 11 different answers and one half answer. The MLS market average is around 150 days. This tracks most major Realtors in town. Local individual owners typically rent their homes quicker but also tend to rent to lower quality tenants and often pay a hefty price. Our company has averaged 55 days vacant for our rentals for the last 12 months. In 2009 Victory only had to Evict one tenant that we placed, and retain a significant amount of the security deposit from 2 total! Perhaps the most telling of all our statistics. We also often assume and rehabilitate problem accounts for seriously distressed owners and only had to evict one of these tenants in 09 as well. In this economy renters are everywhere, however they have a ton of homes to sort through and their overall quality has dropped significantly. It's tough to make a property stand out, and even tougher to find a tenant that keeps it in great shape and pays but our company and a select few individual owners are having a lot of success. ... more
0 votes 2 answers Share Flag
Tue Sep 9, 2008
Scott Godzyk answered:
Not at all!!!! th einternet should be used as a tool to place ads, descriptions and helpful information. it shouldnt and cant be used as a total tool without human contact to look for, advise and buy a house. Nothing beats olf fashioned personal and professional service. ... more
0 votes 4 answers Share Flag
Sat Sep 13, 2008
Scott Godzyk answered:
i would love to see a 4% cobroke, here in NH we still see 2 in the buyer agent column. Commission is a negotiable part that is based on what market conditions will bear and how much work is entailed. with anything there is an up and a down, hot and cold and good and bad agents. the old addage you get what you pay for is so true in low cost models. to see a seller save $4000 on a commission but sold his house $16,000 below what he could have got is a great reason to see why we need experts to advise on current prices, sales and market conditions. ... more
0 votes 7 answers Share Flag
Mon Feb 16, 2009
M answered:
Ralph,
Can I get a copy of your report? I'd love to direct traffic your way.
Terry Molnar
The Schaffer Realty Group
0 votes 6 answers Share Flag
Tue Sep 9, 2008
Scott Godzyk answered:
I agree it is a fix but not the golden one that will change things over night. to begin to recover the banks have to start to lend money, now that fannie and freddie will be buying these loans again, we have started the climb up to recovery. rates will lower on the short term and more moeny will be available to good borrowers. some areas will recover faster than others. but i think we are on the way. ... more
0 votes 2 answers Share Flag
Wed Aug 26, 2015
Justin King answered:
Yes fractional ownership is becoming more popular at Wrightsville Beach. With large oceanfront homes sitting on the market for longer times, many builders are turning to fractional ownership to help bring in some revenue from the home. If you would like some fractional ownership listings please contact me at (910) 264-6449 or justinking@seacoastrealty.com . Thank you. ... more
0 votes 10 answers Share Flag
Tue Jun 17, 2008
Michael Ceparano answered:
It really all depends on the buyer and how "good" a deal it is. If the buyer is handy or has the funds to pay someone and can fix some usual foreclosure problems and they get the home way under FMV, to offset the repair bills, then yes it can be wise. If you aren't getting a stellar deal and there are plenty of typical resales, stick with the resales. I don't know about growth in your area, but in FL and CA, there was quite a boom the last 4 or 5 years, which over inflated prices and inventory, hence the over abundance of true buyers, investors, bad loan program choices, etc, which resulted in people just walking away from homes and further increasing the inventory. The sad part is, and I don't agree, many people have walked away, just because the home wasn't worth what they owed, no other reason. If they stayed in it for the typical " 5 to 7" years, they may have been fine, but they just don't see why they should pay and I think many get in the mind set of, "well if my neighbor, did it, why can't I?"
I'm done whinning now, just be happy you don't have to filter through 3/4 of your listing to rid yourself of the short sales, I envy you. Sorry, guess I wasn't quite done, haha.
... more
0 votes 3 answers Share Flag
Tue Jun 17, 2008
Victory Property Management asked:
there would be a large supply of renters right? In my opinion, there does seem to be a large supply of renters, however, I also expect to see a lot of homes in this area go on the rent...
0 votes 0 Answers Share Flag
Sat May 24, 2008
Carrie Crowell answered:
Yes Ralph I do. If you choose the right proerty. If you can get a property for less than its value it would be a good time to invest if you do not intend to flip. Flipping property is not a lucrative as it was in the past few years. If you a planning to invest in real estate I would suggest buying to rent or lease. There are many families who have lost their homes to foreclosure who will not be able to buy for many years due to destroyed credit. These people will now need to rent in order to provide shelter for themselves and their families. That makes it a good time to invest in real estate if you plan on becoming a landlord. ... more
0 votes 3 answers Share Flag
Mon Aug 11, 2008
Mark answered:
the prospect of instant and significant negative equity is a little off-putting. Majority opinion is that to buy now is trying to catch a falling knife. Most people with means to buy a house have skills to read the newspaper and internet too.

I am looking to buy.. but CAREFULLY and I'm sure I will be a frustration to my agent with reluctance to pull the trigger unless the deal is so good that it mitigates the risk of instant and significant negative equity.

Good luck RE pros. It will pass.
... more
0 votes 9 answers Share Flag
Wed Mar 30, 2011
Penny Parker answered:
I would check on Craig's list under rentals. When my husband was relocated there in October, that is how we found our condo at the beach.

Good luck!
0 votes 7 answers Share Flag
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