About Wilmington's Figure Eight Island

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

The Week in Review

....your Wilmington Connection

July 17, 2011

Another great weekend of fantastic weather. Have you been home searching? You should its a great time for it! There are some incredible deals out there and interest rates are still low. This wont continue forever now is the time to make it happen.

Wilmington NC Real Estate

Currently on the market there are 2006 single family homes in the Greater Wilmington area and 214 homes under contract. A slight increase over last week. In the last month there have been 184 solds and only 72 of those were priced above $250,000. The market is rather stagnant. Lower priced homes and of course the ones that are priced compellingly are moving fast. Is your home priced that way? Are you thinking of listing? Lets talk about what it will take. Email me

Wilmington home sales down

Wilmington-area home sales continued a downward trend last month, and average and median sales prices were off as well compared with June of last year, according to statistics from the Wilmington Regional Association of Realtors that were released Wednesday.

The number of sales in New Hanover, Pender and northern Brunswick counties totaled 466 in June, down 11 percent from 522 a year earlier, the WRAR said.

The average price of a home whose deal closed in June fell 1 percent, to $237,930 last month compared with $239,000 in June 2010.

The median price - the point where half of homes sold for more and half for less - was down 5 percent, to $179,600 from $189,450.

Prices are only for homes that sold and do not represent the overall prices of area homes, though their movement is an indication of the market's direction.

Additionally, closings typically occur at least 30 to 60 days after the contracts were written on the homes.

Americans Still think Home Ownership is important

A new survey from the National Association of Home Builders finds that Americans continue to embrace home ownership.

The results show that 75 percent of 2,000 people polled agree home ownership is worth the risk of fluctuations in the market and that 73 percent of renters want to own someday.

With more than 70 percent saying the U.S. government should offer tax incentives to promote ownership and oppose proposals to end the mortgage interest deduction.

until next week in The Week in Review

Tina

Figure Eight Island NC Market Update

Figure Eight Island NC is a private beach community minutes from Wilmington NC. There are only 441 private homes on the 5 mile island which can be accessed via Private Bridge or by boat. No hotels, condos or shopping centers. This is true tranquility!

Only 4 sales on Figure Eight Island since October 2010.

8 Inlet Hook Road 5bdrm/3.5baths $ 740,000

277 Beach Road 4bdrm/5.5baths $ 2,100,000

136 Beach Road 4bdrm/5.5baths $ 2,200,000

47 Pipers Neck Road 4bdrm/4.5baths $ 3,495,000

There are 37 homes currently available on Figure Eight Island. They range from a fractional ownership offered at $495,000 to a 5 bedroom/6 bath single-family oceanfront home & soundfront lot offered at $5,200,000.

If you're ready to own your slice of paradise, give me a call. With it's white sand beach, privacy and close proximity to everything Wilmington NC has to offer -- Figure Eight Island may be just the place for you!