Wilmington Real Estate

Testimonials 2/7

Gary was Great!  He met with us on Christmas Eve and on New Year’s Eve to help get our house sold!

Robbie and Jennifer Presnell

New Listing… Crestwood

This week in Wilmington Real Estate, I would like to spotlight a new listing of mine that will be of special interest to an investor or first time home buyer. 

530 Albemarle is located within the Crestwood subdivision adjacent to popular Kings Grant.  This property is listed at $139,900 and represents an incredible value for Wilmington Real Estate.  Run the numbers and see the positive cash flow.

Also this property is currently rented and could continue on into the future.  This property is approx. 1/4 th of an acre, 1300 sq ft, and has 2BRs and 2 full Baths.  The home originally was a 3 bedroom and it could be easily converted back to the original condition. 

This property has received new carpet and new paint approx 1 year ago and shows very well. 

Please feel free to contact me at anytime for other questions you may have.  At $139,900 in Wilmington Real Estate, it won’t last long!

UPTDATE…  SOLD IN 1 MONTH! 

“Where can I find a certain style architecture in Wilmington NC”

This week in Wilmington Real Estate, I would like to address a question I hear often.  I am regularly asked, “Where can I find a certain style architecture in Wilmington NC”.  I love to answer this question because in Wilmington, we have a wide variety of homes for sale with most any type of architecture you could imagine.

What sets Wilmington apart from the rest of the country largely stems from several factors such as our historical sector, our unique relationship with the beaches, our residential areas, and our university setting.  As you travel from one end of the New Hanover County to the other in search of a home for sale, you will see it all.

Wilmington downtown will provide homes dating back to the late 1800’s.  Many have been restored and are in near perfect condition with all the charm and appeal you would expect to see.  We also are seeing several new restorations of older homes as well as mixed use buildings as well.  Many of these new projects will allow an owner to be right in the heart of everything downtown has to offer yet up and away where it is quiet and private.

The beaches provide smaller beach cottages that have been lovingly maintained and passed down from family member to family member.  We also have expansive homes that have been custom built to take advantage of all of the wonderful views and light that can be seen.

Our residential areas in between offer virtually every type of home imaginable.  Many homes are built in communities where these homes all follow a common theme of architecture with various amenities.  These areas are great because they have been well planned out and flow along in harmony as you would expect. 

Feel free to contact me anytime at 910-620-8838 to discuss your needs further.  I am always available and happy to assist.  Thank you for visiting Wilmington Real Estate and Wilmington Homes for Sale. 

Mortgage Rates in Wilmington, NC (1/27/08 Update)

About 1 week ago in Wilmington Real Estate, I spoke about the fact that every once and a while, something very special happens with interest rates and buyer’s ability to afford homes for sale in Wilmington.  Just when you would think that we hit a major milestone in the rates, we turned around and did it again.

Last week, our milestone in mortgage rates was matching a level not seen since Sept of 2005.  Well this week, things got even better!  Mortgage rates in Wilmington have now tied a level dating back to Spring of 2004.  Our new rate this week averaged 5.48% which was down from another great number of 5.69%.

What do these numbers mean to the average buyer.  Here is an example for you.  Lets assume you wanted to purchase a home with a list price somewhere over $300,000.  After negotiations and a down payment, you are left with $300,000 to finance (a nice round number).  Based on today’s rates of 5.48% on a 30 year term, your monthly payment of principal and interest would be $1,699 per month (not including insurance and taxes).  Now, considering that our rates just 12 months ago were at 6.25%, that mortgage payment would have been $1,847 per month.  Our monthly difference represents a savings of about $150 per month.  If this wasn’t significant enough for you, over 1 year the savings accumulate to a total of $1,800!  For your average family of 4, $1,800 per year can really help out.   Not to mention, $30,000 can put you into a bigger home, better neighborhood, different school system, closer to work, larger lot, or maybe a combination of them all! 

But it gets even better, lets say that last year you were in the market for that same home and decided that this was not the right time for you.  Assuming you were comfortable with the $1,847 per month payment, you can now look at an even better home for the same monthly budget.  Based on today’s interest rates, an $1,847 mortgage payment can now purchase a home that would cost almost $30,000 more than you could purchase before.

Wilmington Real Estate is looking better than ever, our pricing is very competitive, and the rates are outstanding.  Call me when you are ready to take advantage of this special opportunity @ 910-620-8838.  Serving your needs is my pleasure!

Homes for Sale in Wilmington NC

I am often asked by newcomers to the area….  “What makes Wilmington so special?”  Why is it that so many people want to be a part of this area?  The best answer that I can come up with is that this is one of the few areas in the state that can provide you with so many things to see and do.  And along with that, we have so many different homes for sale in Wilmington as well.

What other towns do you know of that can offer such distinct areas all within a 15 minute drive of each other.  We offer the beaches of Wrightsville, Carolina and Kure, a university setting to attract students as well as retirees, a thriving downtown community with all of the history you can imagine all along the riverfront, and everywhere else in between.  With each of these areas of town, we offer different types of homes for sale in Wilmington.

If you are new to Wilmington, take a minute and pick a few price points to search through on my website under the search for homes tab.  You will see countless numbers of styles from properties built in the early 1900s to the latest construction techniques available today.  We have homes for sale in Wilmington sure to please every buyer!

Mortgage Rates in Wilmington, NC

Just as the housing market is always changing, so are the interest rates for mortgages.  Sometimes these changes are for the good and sometimes not.  And then every once and a while, something really special happens!

Wilmington Real Estate has been in a slower market now since early 2006.  Mostly this trend has been impacted by outside influences.  Wilmington is a destination type of city where people have a strong desire to live here.  Having said that, if they can’t sell what they own in another state, then they may need to delay their purchase in our area.  The big difference now is that mortgage rates have begun a steady decline since July of 2007.  We are now down to levels unseen since Sept of 2005!

These fantastic rates can have a major influence on your ability to get where you want to be.  If you are a seller, more buyers will be considering your home.  If you are a buyer, you may now consider a larger variety of homes that meet your personal budget.  The Wilmington Real Estate market has always provided a great selection of homes for sale.  This selection has become more affordable than ever.

Testimonials 12/22

 Gary, I just wanted to take the time to write you a letter of thanks for all of your help in our recent purchase in the Wilmington area.  Over the years I have purchased a large number of residential properties in North Carolina including expensive oceanfront properties, but I have never in ANY real estate transaction received the excellent service that I received from you in the purchase of the condo.  What makes your exceedingly high level of service in that particular transaction even more remarkable is that it was a relatively inexpensive transaction which did not carry a large commission.

You offered to do EVERYTHING that needed to be done to facilitate not only the purchase but also our moving into the condo after the purchase.  I was truly blown away by the many trips you made to the condo to meet the cable guy, meet the carpet cleaning guy, meet the pest control guy and other folks who needed to be let into the condo prior to our moving in.

Not only did you do that but you also offered to go to Lowe’s and get us an extra long cable for the cable TV when the cable guy said the maximum he was allowed to install was 6 feet.  

You, my friend, win the lifetime award for service over and above the call of duty to your clients and my wife and I feel very fortunate that you were the agent we chose to work with when we decided to purchase our first property in the Wilmington area.

I almost forgot to mention that you also helped us close this transaction within 10 days from first calling you about the property.  You somehow got the lender and closing attorney and appraiser to do this transaction in record time and then immediately subsequent to the closing you facilitated our getting the proper insurance policy for the condo.  These were all folks we had never met or done business with before, but they all treated us like long-standing clients and gave us preferential service.

Feel free to post this letter along with my  phone number on your website.  Any of your prospective clients are welcome to call me and I will tell them that I’m a guy who has purchased dozens of residential properties over the years but I have never had an agent work either harder or smarter as dual agent or give me better service than you did.

Sincerely,

J. Thomas Harris

Selling Homes over the Holidays

Today in Wilmington Real Estate, I would like to address the idea of selling homes over the holidays.  I am often asked if having a home listed on the market over the holiday season is the right thing to do.  My answer always stays the same…  “The best way we have to sell the home is to have it listed on the market for all to see!”  Lets look at some of the reasons why.

Reason #1  Relocations…  Prior to real estate, my former career caused my family to move quite often.  Unfortunately in one town, we bought and sold all within 10 short months.  The last 2 homes I bought were purchased the week before Christmas!  The timing for us couldn’t have been worse but it had to be done.  When you are relocating, the idea of moving is tough enough, but to rent while we looked and then move again would have been far worse.  Relocating buyers need a home now, and if your’s is no longer on the market in the Wilmington area, they will never see it!

Reason #2  Inventory…  Many sellers choose to either take their homes off the market or choose to not list over the holiday season because of too many other things going on.  As a seller, if you continue on in persuit of a buyer, you will have fewer homes to compete with until spring when so many other properties hit the market.

Reason #3 Showings…  The winter brings darkness starting at about 5pm, right about the time most buyers are getting off from work.  The chances of getting a showing after 5pm are generally very slim.  Ultimately this means that most of your showings are going to occur over the weekend when most buyers are off from work.  To me, this is an advantage.  Having a home on the market when you have a family is very challenging.  Sure as the world, the buyer will want to view the home right in the middle of your dinner plans in the spring and summer months.  You will now have fewer disruptions to your family life at this time of the year.

Reason #4  Motivated Buyers…  Spring months will always bring more showing activity.  The question becomes is the activity productive?  When you have showings in the winter months, there is a good chance that this buyer is seriously looking for something to buy and your home just might fit their needs.  Having said that, prepare for each showing as if it was a second showing, you might just end up creating one!

The Wilmington NC Real Estate market provides so many great alternatives!  We are truly a destination city that people want to be a part of!  Call me today to see how we can work together to meet your needs in real estate!

New Listing… Sands IV in Carolina Beach, NC

This week in Wilmington Real Estate, I would like to spotlight another new listing of mine located in Carolina Beach, NC.  Here is a sample walk-through video…  Just click play on the screen below…

The Sands IV is part of a group of Condos and this particular complex provides full oceanfront views.  The Sands IV is located on the best part of Carolina Beach due to the large beach area in the front as well as the city lake located only a few steps to the street side of the complex. 

Countless recent improvements to this property include…  New windows, new sliding glass doors, new appliances, new hot water heater, new carpet and paint just to name a few.  All of the furnishings seen in the video will be included.  This property is ready to be enjoyed by the new owner or as a rental.

UPDATE…  We have just reduced the price of this condo to $349,000 and have also paid for the next 12 months of HOA dues for the new owner.  Contact me today for a showing of this wonderful oceanfront property. 

Virtual Video

This week in Wilmington Real Estate, I would like to spotlight a new feature I have added for out of state clients.  Virtual videos can be taken inside or outside of listings to get a better feel of the surroundings of a particular property.  Here is a sample…

This video shows the oceanfront views of my latest listing in Carolina Beach and the Sands IV complex.