Understanding whether to buy or sell can be complicated... I see it like this for residents of Wilmington and it's beaches.

I recently noticed something that startled me quite a bit. As a result of managing long term rentals, I am very familiar with typical monthly rental rates in the area. Very recently I have noticed a very dramatic decline in the rate renters are paying. How will this affect housing? First, when someone is in the market for housing, the rental option is beginining to look like a much better investment for the short term. In fact, I have noticed a huge surge in the number of renters, despite a decline in rates. Second, the lease rate decline has yet to be felt much. As leases begin to renew, a lot of home owners will be surprised, and perhaps distressed to find out that there investment will be making them 10% less this year than last. I think we still have some time before we see the abolute bottom. Of course, if you will be looking for anything long term, as I have said all along, the fundamentals for this area are absolutely great. Even as an investment when you consider that everything in America right now is declining.

My name is Ralph "The House" Hunter, with Victory Real Estate. I have been selling real estate in the Wilmington area for 5 years now. I have experienced many different markets, and enjoy watching things play out. I have lived in Wilmington my entire life, and really love being directly invloved in it's growth, and development. I plan to build my firm into a powerful local brand focused on real estate advice and service, rather than sales.

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