Kay Baker

Loans are Available

Now is the time to buy! There are great loans available as low as 6% and some are 100% financing. First time home buyers can receive $7500 tax credit!

Homes in Wilmington, NC Priced Under $100 Ft.

Take a look at these homes that are priced under $100 per foot. Remember, most homes in the Wilmington area are priced well above that range. I have also attached a list of corporate owned homes that are a great buy. Rest of the story.....

First impression is everything in today's real estate world. With the inventory available for buyers to pick and choose, sellers need to be diligent about first impression. Buyers may pass your house for a more updated one.

Here are a few tips for under $100....

Waiting on the side lines for home prices to fall?

Consider this. Let's assume that home prices do fall another 15% and interest rates go up.

Current Scenario Down the Road Scenario

Sales price $250,000 Sales price $212,500

5% down $12,500 5% down $10,625

Loan Amt $237,500 Loan Amt $201,875

30 yr fixed @ 6% 30 yr fixed @ 8%

P & I = $1,423.93 P & I = $1,481.29

Total cost for 30 years Total cost for 30 years

$512,617 $533,264

If we are going to assume prices fall another 15%, we also have to assume interest rates will be higher. Nobody can predict interest rates and nobody can predict the bottom of this real estate market. What we do know is that rates are favorable and real estate is ON SALE. Waiting could cost you money!

The time is now to buy Wilmington NC real estate. There are many homes for sale in Wilmington that are priced below $100 a ft! Unheard of prices! We can send you a detailed list of those homes. There are also some foreclosures and short sales. Fortunately, we do not have the amount of foreclosures that have been experienced nationwide. We were somewhat protected from the mortgage meltdown. North Carolina mortgage laws are some of the toughest in the Nation.

For a detailed list of our Best Home Buy List in Wilmington, NC., please contact me at kaybaker@seacoastrealty.com or go to my website and search all homes in Wilmington, NC.

September Home Sales Rise

National existing home sales increased in September by the largest amount seen in several years. Are we actually seeing signs that the real estate market has bottomed out? Home sales increased but prices are down 9% from a year ago, nationwide. Some analysts are predicting home prices could fall another 10% as the inventory of foreclosures increases. 35 to 40% percent of recent sales are either foreclosures or short sales according to the National Associaton of Realtors. The chief economist for the National Association of Realtors remains positive and says the bottom is near. The rebound in California seems to be taking hold in other areas. And, for the second month in a row, inventories have dropped. Those are really good signs of a rebound.

Wilmington NC Real Estate Market

The Wilmington NC real estate market has remained fairly stable as compared to the housing market nationally. But in September, the number of sales did decline from a year ago.Rest of the story...

1. Beautiful Beaches and Waterways

Wilmington NC is situated on the southeast coast of NC and is bordered on the east by the Atlantic Ocean and the west by the Cape Fear River. The beauty and charm of Wilmington and the surrounding beaches equal or surpass any on the east coast. The many pristine beaches that we have to enjoy such as Wrightsville Beach, Carolina Beach, Kure Beach, Topsail Beach, Oak Island and Ocean Isle Beach are sure to captivate your heart.

2. Boating

The area's many miles of coastline, rivers and sounds offer a variety of watersports, boating activities, and quite a few harbors, marinas, and yacht clubs.

3. Fishing

Being located within minutes of one of the most protected inlets on the east coast, Wilmington offers bountiful fishing opportunities within minutes. Masonboro Inlet is located between the Southern tip of Wrightsville Beach and Masonboro Island. Also, the many creeks and bays located off banks channel and the waterways are a fisherman's dream. You will see them fishing for drum, trout, and flounder in the fall of the year.

3. Masonboro Island

Masonboro Island is an 8 mile long uninhabited island on the southern North Carolina coast between Wrightsville Beach and Carolina Beach and is part of the National Estuarine Research Reserve. Masonboro Island, only accessible by boat, is enjoyed by campers, surfers, anglers, and bird-watchers alike. The reserve consists of about 5000 acres, which about 4400 acres are tidal marsh and mud flats. The most northern end at Masonboro Inlet is the most popular area with its sandy beaches and protected waters. Any summer weekend you will see many boaters and campers prepared for a few days on the beach with tents, grills and water toys in tow.

4. Historic Downtown Wilmington NC

Wilmington is blessed with a beautiful and extensive historic district with magnificent and stately oaks, azaleas and oleanders. 230 blocks of downtown are on the The National Register of Historic Districts. The city embraces a lot of history and is fortunate that so much has been preserved.

5. Wilmington NC Real Estate

I cannot speak highly enough about the real estate offered in and around Wilmington NC, from the River to the Sea! Wilmington offers many affordable neighborhoods such as Whitney Pines to move up neighborhoods like Covil Estates with amenities, to luxury gated communities such as Landfall, or golf course neighborhoods like Porters Neck, and waterfront neighborhoods with marinas and boatslips such as Turtle Hall or Shinn Point . The choices are all right here in our great port city of Wilmington NC.

Rest of the story.....