Diane's Wilmington NC Real Estate Thoughts: February 2010

Diane Parker is a REALTOR with Coldwell Banker Sea Coast Realty. This blog helps educate clients on the Wilmington NC market area, offers information on area events, advice on real estate decisions, and general real estate tips.

Wilmington NC Housing Market Rebounds With Help of Tax Credit

226 Fairfield Drive - Wilmington NC 28401 - 1500-1600 SF - $132,525

Thirty-four percent of home sales in the Wilmington NC area in 2009 were from buyers who took advantage of the home buyer tax credit.  The extension to June 30, 2010 and the $6500 available to existing home owners hopefully will keep sales moving in the Wilmington NC area.  Properties on the areas beaches are still sluggish, as financing for investors and second homes now have more stringent guidelines.

Home sales in December 2009 were up 19.8% from December 2008 in the Wilmington area. 

New construction in the $200,000-$250,000 range are also selling.  This is a popular range for first-time buyers as well as for those folks downsizing. 

Click here for more information on Wilmington NC Real Estate

Diane Parker, Broker/Realtor/e-PRO

(910) 617-5244

DianeParker@SeaCoastRealty.com

 

 

 

0 comments • Diane Parker • February 21 2010 05:35PM

Wilmington NC - Cross-City Trail Growing

There will be a Groundbreaking ceremony on February 18, 2010 @ 10:30 am at the intersection of Randall Parkway and Brailsford Drive to begin construction on 3-miles of the Cross-City Trail.  This is a 10-mile multi-use trail connecting Wade Park to the Heide-Trask drawbridge at the ICWW.

Federal Stimulus Money (2M) will help fund Phase I between John Barry Drive and the Cameron Art Museum and Phase II between Converse Road and Randall Parkway.  Construction begins in February and is expected to take 4-6 months to complete.

For more Wilmington NC information, visit www.TheKeytoWilmington.com

Diane Parker, Broker/Realtor/e-PRO

Coldwell Banker Sea Coast Realty

910-617-5244 or 910-202-3767

DianeParker@SeaCoastRealty.com

www.TheKeytoWilmington.com

 

 

 

1 comment • Diane Parker • February 17 2010 04:46PM

Military Cutoff Rd Ext and US 17 Hampstead Bypass

We get lots of questions from home buyers looking at homes in the Ogden area regarding the status of the proposed Military Cutoff Extension.  The US 17 corridor study extends Military Cutoff Road to the US 17 Wilmington Bypass.  This is part of North Carolina's Strategic Highway Corridor Initiative, which is designed to maximize the long-term interconnectivity of major transportations corridors. 

The current project schedule is below, and of course, subject to change at any time.

Complete Draft Environmental Impact Statement - Summer 2010

Select Preferred Alternative - Winter 2010/2011

Complete Final Environmental Impact Statement - Summer 2011

Begin Right-of-Way Acquisition - 2014

Construction - After 2015*

*This project is currently unfunded.  Funds are expected to be available approximately 2015,

US 17 Corridor Study Map

Search for Wilmington NC Homes for Sale

 

Diane Parker, Broker/Realtor/e-PRO

Coldwell Banker Sea Coast Realty

910-617-5244 or 910-202-3767

DianeParker@SeaCoastRealty.com

www.TheKeytoWilmington.com

 

 

0 comments • Diane Parker • February 17 2010 03:17PM

Wilmington NC - Blue Point Market Recap 2/2010

Blue Point is popular single-family home community located in the Porter's Neck area in northern New Hanover County.  Conveniently located to I-140, this neighborhood is convenient to GE, one of Wilmington's top employers, shopping, medical facilities, and area beaches. 

Below is a market recap of current listings, pending listings, and homes that have sold within the past six months.  For information on Blue Point or other Wilmington homes, click here

 

Active
Listing Price Range  Quantity      Average DOM  
$250,000 thru $299,999 1 17  
$300,000 thru $349,999 3 122  
$450,000 thru $499,999 1 408  
  5 158  
 
Summary Price Information
Minimum  $274,900 Maximum  $485,000
Average  $342,160 Median  $319,000

Pending
Listing Price Range  Quantity      Average DOM  
$350,000 thru $399,999 1 97  
$400,000 thru $449,999 1 205  
  2 151  
 
Summary Price Information
Minimum  $365,000 Maximum  $435,000
Average  $400,000 Median  $400,000

Sold
Selling Price Range  Quantity      Average DOM  
$250,000 thru $299,999 4 92  
$300,000 thru $349,999 3 117  
$350,000 thru $399,999 1 25  
$400,000 thru $449,999 2 241  
$500,000 thru $549,999 1 65  
  11 117  
 
Summary Price Information
Minimum  $250,000 Maximum  $525,000
Average  $344,955 Median  $321,500

The above featured property may not be listed by the office/agent presenting this brochure.
All information herein has not been verified and is not guaranteed. ©2010 Multiple Listing Service of the Wilmington Regional Association of REALTORS, Inc

 Diane Parker, Broker/Realtor/e-PRO

Coldwell Banker Sea Coast Realty

910-617-5244 or 910-202-3767

DianeParker@SeaCoastRealty.com

www.TheKeytoWilmington.com

 

0 comments • Diane Parker • February 08 2010 02:12PM

Home Buyers Filing for Tax Credit

The Internal Revenue Service has released IR-2010-006 which offers a revised Form 5405 that shows the changes made to the tax credit with the extension legislation passed in November 2009.  All tax returns claming the tax credit must be filed manually.  No e-file returns can be utilized.  The revised form also has a section for the buyers who are eligible for the $6500 credit. 

Evidence of the transaction, or HUD-1, must be filed with all returns claiming either the $6500 or $8000 tax credit.  Those claiming the $6500 credit must provide proof that they have owned and lived in their prior residence for 5 years.  Instructions show that homeowners insurance records or property tax records are sufficient proof.  For detailed IRS info, visit Tax Credit Info

There is still time to take advantage of the tax credit.  Buyers have until April 30th, 2010, to be under contract on their property.  Click here to view your new Wilmington home or call Diane Parker at 910-617-5244. 

 

Diane Parker, Broker/Realtor/e-PRO

Coldwell Banker Sea Coast Realty

DianeParker@SeaCoastRealty.com

 

 

0 comments • Diane Parker • February 05 2010 04:28PM