Kure Beach Real EState Prices drop Sharply 43%

The average sold price for Kure Beach NC homes dropped 43% since March 2011. is this finally the bottom of the market? Is it safe to buy? Where and when does the market go from here? Consistent analysis of the Kure Beach real estate market will begin now on my new website for that niche market.

There is a growing controversy as to whether a home can be over staged. I’ve been to private homes where the staging itself becomes the main focus!

Attention is drawn to details like a load of laundry in the dryer, a flat of pansies with a little dirt dribbled on the kitchen counter accompanied by gardening gloves and a spade. There might a book set down open-with the spine up – and reading glasses perched at an angle on top.

Props.

An entire showing can become an amusing and distracting view of make believe and over the top efforts to create the impression of an occupied home!

Need a clue? Open the fridge! Yep. It’s empty.

The owners are long gone and the lingering question becomes why go to such lengths to sell a home -instead of why buy the home in the first place? Not surprisingly, this scenario is typically found in upper end homes in this area.

Visit my site for grins... http://www.design-results.com I just launched it this week. It's not perfect- the Transformations photos still need to "hover" but it's getting there! Let me know if you have any words of wisdom- its WordPress and I can modify it.

Have a great day!

Daryl

UNCW UNIVERSITY OF NORTH CAROLINA WILMINGTON STUDENT HOUSING MULTI FAMILY FOR SALE WILMINGTON NC NORTH CAROLINA

Wilshire Landing Apartments

4009-4019 Wilshire Blvd, Wilmington, NC 28403

www.wilshirelanding.com

240 Units

.6 Miles to Nearest Edge of Campus

13,071 Students (11,770 undergraduate)

Listing Courtesy of MFH Construction, LLC

Contact Grant Ancevic of Student Housing Investments, LLC for More Information

The Week in Review

....your Wilmington Connection

February 5, 2012

Well looks like the week finished with a touch of the winter chill. Nothing like those days of 70 we had this week. Contracts have almost doubled this January. Buyers are starting to get off the sidelines and take action. Thinking of buying or selling a home? I would love to hear from you. Email me or give me a call.

Wilmington NC Real Estate

Currenlty on the market there are 1557 single family homes in greater Wilmington. 173 home are under contract and in the last month there have been 119 homes sold and only 12 of those were priced over $500,000.

Is the Real Estate Market on the way to Recovery?

The latest monthly data shows total existing-home sales1 rose 5.0 percent to a seasonally adjusted annual rate of 4.61 million in December from a downwardly revised 4.39 million in November, and are 3.6 percent higher than the 4.45 million-unit level in December 2010.

Lawrence Yun, NAR chief economist, said these are early signs of what may be a sustained recovery. “The pattern of home sales in recent months demonstrates a market in recovery,” he said. “Record low mortgage interest rates, job growth and bargain home prices are giving more consumers the confidence they need to enter the market.”

For all of 2011, existing-home sales rose 1.7 percent to 4.26 million from 4.19 million in 2010.

January home sale prices

(January 2011 in parentheses)

Average price of homes closed: $201,770 ($214,678)

Median price of homes closed: $167,000 ($180,000)

Average mortgage rates

(Feb. 2)

30-year fixed: 3.87% (3.98%) *

15-year fixed: 3.14% (3.24 %) *

5-year adjustable: 2.80% (2.85%) +

1-year adjustable: 2.76% (2.74%) -

* Plus 0.8

+ Plus 0.7

- Plus 0.6

– Freddie Mac

.....until next week in The Week in Review

Tina

The Week in Review

....your Wilmington Connection

January 15, 2012

Wow...Wilmington sure had a chill the last few days! The winter coats came out and the heat was on. Hope you all enjoyed your weekend and was able to keep warm. Well the start to a new year is underway and I have to say that I think its going to be a great one in the form of real estate! Many people have been on the sidelines waiting to see whats going to happen and now the sidelines are emptying out as people realize you are not going to get better interest rates or more importantly low home prices. If you are looking to buy some Wilmington NC Real Estate then shoot me an email and lets get the process started.

Wilmington NC Real Estate

Currently on the market there are 1562 homes listed. You can be sure as spring nears inventory will go up. Are you planning on putting your home on the market? Lets talk. In the last 3 months there have been 460 homes sold, 262 of those were priced under $200,000. A pretty strong price range.

Last Years Home Sales Results

Home sales had a minor gain last year but they had their best results since 2008, according to the Wilmington Regional Association of Realtors .

Sales of homes in the area covered by the WRAR are New Hanover, Pender counties and northern Brunswick County; rose to 4,590 in 2011 from 4,567 in 2010, according to the statistics.

The down side were prices were down to levels not seen since 2004.

The average price of a home sold last year dropped by 4.8 percent, to $219,656 from $230,790 in 2010. The average had been as high as $272,784 in 2007.

The median price – the point at which half of homes sold for less and half for more – fell by 5.7 percent, to $173,063 from $183,512, according to WRAR figures.

The main reason for those drops were so-called distressed sales, which have comprised as much as 30 percent of all sale.

Figure Eight Home Sales

How did the luxury market stack up in 2011? Figure Eight being one of the exclusive areas in New Hanover County to shop for Luxury Homes. In 2011 there were 10 homes sold on Figure Eight Island a jump from 2010 where there were only 7 homes sold. The highest price one being $2.8 million. Most of the homes sold between 85 and 90% of their list price. Look at this home I have listed on Figure Eight Island. This home is one of a kind located in the middle of the island on the intracoastal on one of the most coveted lot on the island.

....until next week in The Week in Review

Tina