Population: 100,000
Located in New Hanover County

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Wilmington, North Carolina

Welcome to Wilmington, North Carolina, a coastal city, located between Cape Fear and the Atlantic Ocean in the South Eastern portion of North Carolina. If you are looking for a place with warm temperatures, casual lifestyles and a touch of the "new south charm", Wilmington will be the place for you. You will love the historic feel, and find the city to be an exciting place to visit, and an even better place to relocate

With tons of activities available for all ages, not one person could ever be bored in this beautiful city. Families will like the abundance of fun activities such as visiting the aquarium, zoo, Water Park or taking historical horse drawn tours. Adults of all ages will love the frequent and large festivals, as well as the exciting nightlife. Not to mention the variety of sporting events available to see. With the University of North Carolina at Wilmington around the corner and multiple professional and semi-professional athletic teams, you'll never be short of teams to cheer on. If you love to shop, you will love the historic shopping district, with a multitude of unique and privately owned stores. And if you get hungry while you are enjoying all Wilmington has to offer, you will certainly never be short of excellent places to stop and have a gourmet meal, as Wilmington has some of the best restaurants in the nation.

Wilmington boasts a strong and growing economy, which has attracted many large companies to move to the area. The schools in Wilmington are some of the best in the nation. The primary schools consistently rate high on all national educational standards. For those interested in higher education there are plenty of options available as well. Those options include: The University of North Carolina Wilmington, with the fifth best marine biology program in the world, and the award winning Cape Fear Community College, where degrees can be obtained a variety of excellent options.

The City of Wilmington is approximately 80,000 in population, however, the surrounding population is close to 170,000 and it services a rural regional population of nearly 250,000. There is also an influx of summer tourist population to nearby beaches of Figure 8 Island, Wrightsville Beach, Carolina Beach, Kure Beach and Bald Head Island. Spring and fall bring fishermen and golfers to the area.

Wilmington is a large city with a small town feel. The history of Wilmington gives its residents a reason to be proud. You'll be proud too, when you choose to relocate to this fabulous city. Let us help!

Find homes for sale in Wilmington North Carolina

If you would like to buy or sell Wilmington, NC real estate, contact Sandy and Steve Thornton for all your home buying and selling needs.

 Specializing in Wilmington, Leland, Hampstead, Sneads Ferry, Jacksonville, Topsail Island including Surf City, Topsail Beach, North Topsail Beach, Beach and waterfront properties covering New Hanover County, Pender County, Brunswick County and Onslow County areas

The Difference Between Selling and NOT Selling is Simple!

I know it is hard for you to find a good story when it comes to selling real estate in today's market. None of us can deny that prices have adjusted downward and the market has shifted to benefit the buyer more than the seller.

When you look beyond the news headlines and all of the doom and gloom stories, you can find a lot of successful sellers moving their properties without "just giving them away."

Selling in today's market is simple as long as you follow these simple steps!

First - In Today's Market: The Comps DO Matter!
Over the past few years, buyers, sellers and agents moved away from making logical decisions and started making decisions based on emotion. This is one of the biggest reasons that we saw the market climb to such heights in 2005 and 2006 and this is also why we are seeing such declines in 2007 and 2008. When the market responds on emotion versus logic, there is a lot of high and low swings. It is like a kid on a sugar high, they are full of energy, bouncing all over the walls for a short period of time and the next thing you know they have fallen asleep on the floor, they crashed. This sounds a little like our last few years in real estate.

Though we cannot control the market, we can control the way we make financial decisions. The buyers are making more logical purchases these days. They are doing research, looking at more than 3-4 properties and making offers on those properties that are priced fair in the beginning .

When a buyer is thinking logically then the seller must do the same. You must look at the comps carefully. In most cases, it takes an experienced agent to guide you in the right direction. The comps will tell you what buyers are willing to pay and what banks are willing to lend on a purchase like yours. The comps do not lie, they practically predict the future.

Second - Price Property at Market Value!
Another mistake that agents and sellers are making in today's market is that they are pricing in a cushion when listing their property. As an example, the seller wants $200,000 for their property but since they are worried that the buyer is looking for a deal, they price it at $225,000 in order to have room for negotiations. THIS IS A MAJOR MISTAKE. Most of the time the cushion pushes the price outside of the logical price range that it should be priced and therefore the buyers never look.

In today's market, you are better off pricing the property at the level you are willing to accept and then hold firm. When we price homes correctly in the beginning, we are able to create a lot more demand for our properties often with multiple offers.

Pricing a property at market value does not mean a low price, it simply means "market value." Today's buyer is afraid of making a mistake so they are looking for properties priced correctly. They are not all looking for a steal, they just want to make sure they do not over pay like so many did in the past few years.

I have always said that I would rather price my property aggressively from the start and turn down 10 offers for $1000 then be overpriced and not receive any offers at all.

Third - Keep the Emotions Between the Lines!
A common problem that we see agents and sellers making in today's market is when they get that first offer from a buyer and it is a lot lower then the list price. The agent gets mad and the seller gets offended. DO NOT LET AN OFFER AFFECT YOU EMOTIONALLY!

Remember, buyers are trying to find quality properties at a discount. If they made an offer on your property then that means they have chosen yours as being quality. It is natural for them to try to get it at a discount. You will be surprised at how often a buyer will make a low ball offer to later come up and pay market value and sometimes even full price for the property. If you get emotional about low offers then you are not likely to make a realistic counter-offer therefore chasing the buyer away.

Fourth - Hire A Qualified Agent!
I have always been a strong believer of hiring the most qualified professionals available. Top agents can help you make more money in a hot market and protect your equity in a down market. Take your time to find an agent who knows how to work in all types of markets. Too many agents got their real estate license's when the market was hot and now they are having a difficult time.

If you would like to buy or sell Wilmington, NC real estate, contact Sandy and Steve Thornton for all your home buying and selling needs.

Specializing in Wilmington, Leland, Hampstead, Sneads Ferry, Jacksonville, Topsail Island including Surf City, Topsail Beach, North Topsail Beach, Beach and waterfront properties covering New Hanover County, Pender County, Brunswick County and Onslow County areas

by Vicki Gerson
Friday, April 18, 2008
provided by Bankrate.com  

Investing in real estate used to be considered a "no brainer," a can't-miss investment.

But these days, this sure thing isn't so sure. Home prices keep falling. Standard & Poor tracking shows prices down 7.7 percent nationally in November 2007.

The National Association of REALTORS®, or NAR, reports that sales of single-family homes were down by 13 percent in 2007, the biggest drop since a 17.7 plunge in 1982.

Representatives of the NAR say that this makes it the best buyer's market in a long time. Prices are down, interest rates are near a 45-year low and the supply of houses is high.

But others argue that with the real estate market in a tailspin, it might be a very long time before prices rebound -- making it a poor market at this time.

Even those who advocate real estate investing concede that you need the right circumstances before you take the plunge.

Who Should Buy a Home?

"Dual-income customers should definitely buy a home now," says George Kaiser, vice president of banking operations for Northbrook Bank and Trust and West America Mortgage Co., its sister company. "People with assets in reserve and a credit score of at least 680 should buy as well. Anyone with a credit score less than that will have to verify their income."

Renters who have stable jobs might find this a good time to try homeownership because of the lower prices, says Scott Rose of Coldwell Banker in Deerfield, Ill.

William Chu, senior mortgage loan consultant, American Chartered Bank, suggests it's a particularly good time to look at the higher end properties if you can afford them because with the pool of buyers shrinking, upper market sellers are lowering their prices to attract a larger pool.

"So if you qualify, you could purchase a more expensive home at a much lower price than you could a few years ago," he says.

However, as always, consumers need to shop intelligently, avoid risk and buy what they can afford.

Kaiser warns that potential homebuyers must not get in over their heads. They should feel comfortable with their mortgages and be confident they can handle the payments along with taxes and insurance.

Those with lower credit scores will find it a little tougher.

"If you have some credit challenges or less than 20 percent down, be prepared for higher interest rates due to risk-based lending," says Rose.

Who Should Not Buy Now?

While prices are more attractive these days, not everyone should be in the market.

"There is no hard and fast rule that applies in all cases, whether it be a good market for real estate or a down market, such as we are currently experiencing," says Valerie Anderson-Jones, CPA, JD, CVA at Kessler Orlean Silver & Co. PC. "Tax advantages can make the ownership of real estate quite appealing, but the decision whether or not to own a home should be based on many factors.

"The size of the down payment and resulting mortgage will play a large part in this decision, as well as the amount of any other assets and debt one currently has."

Brent Kalka, Certified Funds Specialist, or CFS, and financial adviser at Mueller Financial Services Inc., Elgin, Ill., points out there are times a person or couple should not consider buying in this market.

"For example, if a retired couple is thinking of selling their home in order to downgrade and gets less than fair market value, they will lose more financially then what they gain by getting a good deal on a less expensive house and are better off financially by waiting until the market turns around."

A second consumer who ought not consider changing residences is a homeowner who, prior to the market downturn, had 20 percent equity in their home and didn't have private mortgage insurance, or PMI payments.

"With home values down," he says "their equity has dropped, and they no longer would have the 20 percent down payment necessary in a lateral or upgrade purchase to avoid PMI, which can run anywhere from $50 to $150 per month."

Kalka also believes that potential homebuyers should consider the fact that the real estate market could be no better or even worse a year from now, so they have to decide if they want to wait it out.

People whose jobs are shaky should wait until their situation is more secure.

"To buy on what you are making now if future income is not stable is asking for trouble," Rose says.

Also, if you are experiencing a life change, such as an upcoming job transfer, getting married, planning to move geographically within the next two years or struggling financially, you should wait.

"People who are thinking of flipping a home should not buy," says Walter Molony, spokesman for the National Association of REALTORS®. "Housing is a long term investment, and if you're only planning to be there for a year or two, keep renting."

According to Karen L. DeRose, CFP, DeRose & Associates, Chicago, renovating and flipping homes is much harder today and not something she is recommending to any of her clients. She says several of her clients now have to sit on these properties and the gains they thought they would get have been eaten away by the decline in home prices.

People with heavy credit card debt should not consider buying now. "They must clean up their credit first," Chu says.

Why Not Wait Until the Economy Turns Around?

"If you wait till the economy turns around, the interest rates may not be as favorable, nor in all probability will there be as much inventory," says Schwartz.

She feels it's hard to predict when the market will bottom out, just as you can't predict when a stock has "bottomed out" until it has started to rise again.

Homes are starting to sell because prices have been lowered, but Kaiser doesn't anticipate home prices dropping much more. Interest rates are also dropping, and that is changing consumers' outlook.

When Will the Housing Market Turn Around?

The National Association of REALTORS® is projecting that home sales will trend up this year.

"The timing of the recovery is a bit ambiguous because there are buyers looking for a bargain, while others are looking for more signs of stability. Still others are looking for interest rates to keep lowering, with prices still bottoming out in their area," says Molony.

The bottom line, Molony points out, is that all real estate is local, and people need to understand what is going on in their local market area before they buy. Internet research is an important first step, and you need to know if it is a buyer's or seller's market locally or if it is balanced.

 If you would like to buy or sell Wilmington, NC real estate, contact Sandy and Steve Thornton for all your home buying and selling needs.

Specializing in Wilmington, Leland, Hampstead, Sneads Ferry, Jacksonville, Topsail Island including Surf City, Topsail Beach, North Topsail Beach, Beach and waterfront properties covering New Hanover County, Pender County, Brunswick County and Onslow County areas