Wilmington NC Real Estate Blog

It’s mystical, it’s enchanting, it’s Greenfield Lake. When you wonder what you should do on a beautiful sunny day in Wilmington, (if you are not at the beach that is!) take a stroll in the Greenfield Lake park. The Greenfield park has a 5 mile walking trail that goes around a small serine little lake, surrounded by beautiful old Cypress trees, dangling Spanish moss, peaceful birds, and curious turtles poking their heads out of the lake to check out the
surroundings. The lake is man made and was created in the 1930’s on the old Greenfield property. It is located in downtown Wilmington on 3rd Street right before it turns into Carolina Beach Road.

There is a calming little waterfall that you can fish off of, you see many locals taking advantage of this. I have heard people catching 4 pound largemouths bass, bullheads, catfish, bluegills and more. For more info on the fishing at Greenfield Lake check out their website.                                                                            

Another activity to enjoy on the lake is the paddle boat rentals where you can paddle around and enjoy viewing the aqua and wild life maybe even do a little fishing, careful not to stick your hand in the water though you might be nipped by the hungry gator that lives below.

Greenfield Lake is not only a great place to enjoy a beautiful day is has also become a very popular wedding venue here in town. I have seen some beautiful weddings set up under the enchanting cypress tress with crisp white tents and twinkling white lights. It really makes for a unique alterative to the same ole venues in town.

The lake also offers a skate park called “the Grind at Greenfield Lake” if you are feeling adventurous. While you are enjoying all the benefits this lake has to offer don’t forget to check out the Greenfield Lake Amphitheater which house many great shows and concerts. The Amphitheater is located at 1941 Amphitheater Drive, Wilmington NC 28401. Here is a list of their upcoming concerts and events:
The Gourds-5/5/12, Taj Mahal Trio-5/11/12, Todd Snider-5/26/12
G. Love and the Special Sauce-6/23/12, Leftover Salmon-7/25/12
For more info about these shows check click here.

-Carly Gravely

Waterford is a resort style community that a person of any age would desire to live in from the young professional, growing family to the retiree.  When you enter this beautiful neighborhood it will take you back to being at your favorite island retreat.  You will find town homes to custom built family homes.

 As you enter Waterford you will be amazed at the time spent in making all the extra amenities the developers added to make it wonderful.   I have always enjoyed listing and showing property in this development and being able to experience the growth and atmosphere it expresses.    It is a great neighborhood to ride your bike or take a stroll in the morning or evenings.  You will notice everyone will be out and about with their families and pets. 

 The amenities to enjoy with this community are kayaking, resort-style pool with cabana bar, beautiful club house, media/game room, fully equipped exercise room, 4 Har-tru tennis courts, event lawn area, sand beach with volleyball, 17 miles of shore lined lakes & creeks, playground, lakeside picnic area, fishing, canoeing  and kayaking.  Waterford is convenient to shopping at your well known stores to specialty boutique stores.  This community still offers opportunities to purchase lots to build your dream home or pick from re-sales of custom homes/townhomes that are presently on the market and are beautiful.

Don’t miss out on this community or living in Brunswick County.  It is one area that has prospered in our distressed economically times.  You will be amazed that you are located to downtown Wilmington, NC and Wrightsville Beach from this community that is in the heart of Leland, NC. 

-Cami Marley

Tidal Walk is one of the last remain tracts of land along the intracoastal water way in Wilmington.  What was once a defunct development after the downturn of the real estate bubble has now been revived and promises to be the premier water access community in south Wilmington, NC.  What makes Tidal Walk unique is it’s preservation of the environment, with minimal impact to the marsh and live oak trees that surround the landscape.  You also have a community clubhouse and pool as well as a neighborhood dock which serves boaters and water enthusiasts of all kinds.  Home owners can truly experience the coastal Carolina lifestyle, yet they are only 10 minutes from Carolina Beach and Kure Beach and 15 minutes to downtown Wilmington. 

National Builder, DR Horton has helped jumpstart the new vision for this property by committing to a large number of lots in Cottages section.  Homes start in the middle $300,000’s and go up to the $400,000’s.  Expect 3-4 bedroom floor plans on a raised slab, one or two story, owners retreat designs on the 1^st floor, and screened patios and porches.  The Cottages offer great flexibility for living whether a primary residence, vacation home or retirement home.

Looking for a larger home and more yard space?  Consider the Hammocks or the Sands home sites by DR Horton.  These two story homes offer more architectural design with dormers and brick or stone accents for that extra curb appeal.  Other features include side loading garages, additional porches, real wood fireplaces and designer kitchens.  For those who are passionate about the surrounding environment, the Sands offers the deepest and widest lots with more customization to build your perfect home.

As you wind through the community towards the water way, you come to the premier home sites named the Beaches.  These are custom home sites that grant amazing views of the intracoastal water way, Masonboro Island and the Atlantic Ocean in the distance.  You can literally feel the coastal sea breeze and watch boats cruise by.  Tidal Walk has partnered with several local, high end builders to compliment the uniqueness of each lot.  Style and design will vary but expect a raised house, probably on pilings to take advantage of views and provide that coastal Carolina look.  Prospect Buyers can work with Tongue and Groove, Plantation Building Corp or Mark Johnson Homes to name a few.

If you are thinking about a water access community in Wilmington at a reasonable price, then Tidal Walk is for you.  There is no other community that can offer a brand new home with a stress free building process like DR Horton.  When it is time to get a closer look at available models, I would be happy to meet you at the community as your Buyer’s Agent and I will be sure to introduce you to my preferred onsite sales reps.

-Ben Szafran, Broker, 910-713-9323, ben@bluecoastrealestate.com

The real estate market is really heating up in the Wilmington NC area.  I have recently been working with some first time homebuyers and investors that are looking for properties priced between $100,000 - $135,000.  Houses in good condition in this price range are flying off the market.  It has become quite the battle to get an offer accepted in this price range.

I showed this morning at 9:30 am a property that hit the market sometime after 11 am yesterday.  I called the agent to let him know I was writing an offer and he said it may be too late.  He already had 2 offers on the table.  

It can be very frustrating to the first time home buyer.  Many times they are competing with an Investor that is willing to pay cash and can close next week.  Luckily, there are some banks that give the “End User” the first shot.  They may give them 14 days to bid before they would open it up to investors.  This makes it a little easier for the first time home buyers.  Make sure that you are working with a buyers agent that has the technology to get all the NEW listings to you in real time.  You want to know about the homes that are in your price range as soon as they hit the market.  I encourage my clients to check their email a few times a day for these updates.  Many times I will be out showing property when these homes are entered into our local MLS so it is important that you have technology on your side and you see these listings ASAP.

I encourage all my buyers to be prequalified with a lender before we even start looking.  Understand, it is taking lenders a longer period to get you a prequalification letter due to all the new guidelines that they have to follow.  Many banks have to see paystubs and/or tax returns before they even will write the letter.  Banks are really under the microscope due to failed lending practices in the past.  

USDA is still offering 100% financing programs in some of New Hanover and all of Brunswick county.  This loan product has great rates and  can be  closed in  45 days (sometimes shorter). For those areas that are not USDA eligible, FHA loans are out there with a minimum of 3.5% down payment.  For some of these foreclosure listings that are in “BAD” shape, FHA has a loan that allows you to do repairs and include this into the loan.  Ask your lender about this product - It is called the FHA 203k loan.

Happy House Hunting!

-Kirby Keene

While looking for the best mortgage make sure you shop, compare and negotiate. In doing so, it will help you get the best financing deal. Whether its a home you are purchasing or refinancing or even a line of credit ( home equity loan) it's a product and shopping and negotiating may often save you thousands of dollars.

There are several types of loans available. Any mortgage loan other than a FHA, VA or RHA loan is a conventional loan. FHA loans is part of the U.S. Department of Housing (HUD). They require a lower down payment and are easier to qualify for than conventional loans. They assist first time homebuyers and others that may not be able to meet down payment requirements. Any one can be approved as long as they have a satisfactory credit record, enough cash to close the loan and enough steady income to make monthly mortgage payments. In order to get FHA insured loans, you need to apply to a HUD approved lender. VA loans are guaranteed by the U.S. Dept. of Veterans Affairs. This type of loan allows veterans and service people to obtain home loans with good loan terms and usually without a down payment. It's easier to qualify for a VA loan than a conventional loan. Understand that the U.S. Dept. of Veterans Affairs don't make the loans, rather they guarantee the loans made by the lenders. VA determines your eligibility. RHA (The Rural Housing Service) of the USDA ( U.S. Dept. of Agriculture) guarantees loans for rural residents with minimal closing costs and no down payments. Conventional loans refer to a mortgage loan that follows government sponsored enterprises like Fannie Mae and Freddie Mac. These loans are either conforming or non-conforming. Conforming simply means they follow the terms and conditions set by Fannie Mae and Freddie Mac. Non-conforming means they don't meet their guidelines. This program looks at your income and monthly expenses. Debt to income ration. Your credit history and overall pattern rather than your individual issues you may have had. Typically conventional loans require the homebuyer to invest at least 5%-20% of the sales price in cash for a down payment and closing costs. Conventional programs offer different loans as well. Fixed rate loans which means the interest rate stays the same for the entire loan period. This is helpful because you know how much your monthly payment will be. The other loan is Adjustable rate mortgage (ARM). This means that the initial interest rate and monthly payments are low but can change during the life of the loan. Conventional ARMS are offered with initial fixed rate periods of 3,5,7 and 10 years.

There are many different financing options available which makes it easier for potential home buyers to own that home they've always wanted. Just remember, to shop, compare and negotiate!

-Robyn Fitzgerald

As Wilmington locals and visitors alike know, our city boasts some of the best restaurants in the region with gastronomical delights ranging from down home recipes to international cuisine.

I recently rediscovered some of the best downtown spots. I’m always amazed at what Wilmington has to offer in the restaurant department and downtown has several of the very best to offer within just a few blocks. Here are some of my personal favorites. When you come down to view some of your searched properties from WilmingtonNCHomes.com, you can count on being wowed by our selection of homes and... be well fed too!

Caprice Bistro-- A wonderful little French bistro steps from the Cape Fear River. The cozy dining room makes for a wonderful intimate dinner when paired with the bistro cuisine.Order a classic steak au poivre or try house specialty “waterzooi”, a delightful seafood stew in an herb broth. And don’t miss out on my personal favorite dessert, tarte tatin. For cocktails, visit the upstairs sofa bar, a comfortable lounge perfect for enjoying a custom martini or a wine from their extensive list.

10 Market St.

(910)815-0810

 Deluxe--Just one block up Market you’ll find this culinary gem.

Colorful, contemporary decor is the perfect match for the nouvelle cuisine at Deluxe. The menu offers updated dishes that pay honor to our southern locale with imaginative dishes, as well as entrees inspired from Italian, French, Asian and Caribbean. Dinners are elegant and casual and always surprising. Full bar and excellent wine list. Sunday Brunch is legendary...omelets, benedicts, blue crab BLT and so much more. Mmmmmm.....

114 Market St.

(910)251-0333

Manna--Dinner is always surprising and delightful at Manna on Princess St. New American, French technique, fun, creative and elegant presentation. The chef changes the menu frequently, using fresh, local ingredients when possible. The menu often makes you smile with tongue and cheek items such like Orange You Glad salad, and What the Duck?!, a slow roasted Peking Duck on the current menu. Gorgeous and tasty cocktails at the popular bar.

123 Princess St.

(910)763-5252

The Fortunate Glass--A great place for getting together with friends, this wine bar has the most extensive wine list in the city. Offering 50 wines by the glass and an amazing 350 wines by the bottle from every region on earth, this spot is a wine lovers delight. There are also 30 craft beers offered, as well as an intimate cozy atmosphere.

29 S. Front St.

(910)399-4292

Written By:  Shannon Andrews

Have you heard of the newly designed Masonboro Country Club on the southern Cape Fear peninsula near historic Wilmington, NC? With a fantastic location near the river and the Intracoastal Waterway, there are many reasons why Masonboro County Club sets itself apart from others in the greater Wilmington and coastal North Carolina region. Here are a few reasons to consider:

• The Mediterranean inspired clubhouse coming soon will be complete with pro shop, indoor and outdoor dining, men’s and women’s locker rooms and spacious lounge areas. It will be an ideal setting to relax and unwind after a day on the course or escape from your neighborhood residence.
• Masonboro Country Club is home to a PGA Tour semi-private golf course on the southern Cape Fear peninsula in Wilmington, NC. This 7,000 yard immaculately manicured course is sodded with 419 Bermuda grass and the bunkers are filled with sugar white sand found at the Augusta National.
• Designed by renowned architect Bob Moore of JMP GolfDesign Group, this course was  constructed by Shapemasters, Inc, a certified member of the Golf Course  Builders Assoc of America.
• To warm up for your day on the course, Masonboro Country Club offers a seven-acre driving range and putting green plus a short game practice area  as well.
• If  instruction is what you need, private instructors are available to help and not only improve your golf game but provide you with a comprehensive understanding of overall golf mechanics using the latest video and motion  analysis technology.
• Memberships are available. Events, golf outings, private golf instruction, recreational and social activities are offered in a comfortable atmosphere at The Club. If you would like to learn more about Masonboro Country Club memberships, let us know.
• If  you ever have questions, Director of Golf Alvin Martin is available to speak with you in person, just give him a call 910-397-9162.

The Cape Blvd. is a desirable street to live on within the newly built Masonboro County Club. In fact, Real Estate guru Wayne Bigg had a listing at 311 The Cape Blvd. that contracted within just a few days of actively listing on the market. Built in 2001, this three-bedroom, two and one half bath custom home was built on the 17th green and affords modern luxuries, the finest finishes, and spacious decks and porches. There may be others available so feel free to shop this neighborhood by clicking here.

It's true that money can't buy happiness, but knowing that the value of your assets will grow over time does give you peace of mind.

Negative press is leaving some home buyers stuck on the fence, but here are a few reasons to climb down.

In the long run you come out ahead; in the short run you enjoy your home. The paper value of your home won't rise much in the next couple of years. But if you want a home where you can raise your children or retire for the rest of your life, the paper value will rise significantly, or probably double or triple during that time.

The recent survey by the Hartford/MIT Lab's Home for a Lifetime survey shows that half of all homeowners prefer their current home for retirement. Another 10 percent may choose to retire there, but aren't yet sure.

A home is like a savings account. Your initial costs of home buying will come back to you many times over during the life of your mortgage. Your stake in the home builds every month. You'll have more than rent receipts in the future.

Mortgage payments are fixed; rental payments rise. On a fixed-rate mortgage, you know what your payment will be each month for years to come. (As inflation rises, you'll be making those payments with less expensive dollars.)

Apartment rents through the third quarter of 2010 were up 2.4 percent nationwide for the year and up twice that amount in larger cities. Nice apartments were hard to find because the national vacancy rate is the lowest since 2006, according to a study by real estate research firm Reis, Inc.

There are many more reasons for having a home of your own, reasons that have little to do with the financial aspects.

Stability and community. You get to know the neighbors. Your kids won't have to change schools. They can keep their friends. You get to know their teachers and which parks, neighborhood facilities and merchants are best for you. Studies show that as people develop positive relationships with neighbors, they have more happiness and less stress.

You get to be the boss. Dealing with a landlord and negotiating repairs are hassles you won't have to deal with. As the boss of your own place, you can paint, renovate and redecorate as much as you want and in any color or style you want.

-David Dougherty

Who would have thought that in 2012 the prices of property on Carolina Beach would have reached such an  devastating low. Well that’s how many people perceive it. Unfortunately, property values have dropped in  some cases over 30% since 2006. This has left many home homeowners in a bind. The plans of buying a  home back then and possibly selling it in the somewhat near future are out the window. With all of the
foreclosures and “short sales” to compete with, it’s next to impossible to sell your home and come close to breaking even. With the economy and the way things have been lately, I’ve had many acquaintances forced  to foreclose on their property. I’m sure it is not an easy situation to deal with. All you do is hold your head up high and keep moving forward.

With that being said, now is the time to buy property if your lucky enough to do so. Not just any property either but beach property. In my opinion beach property would be the ideal place to buy in these bad times.  I feel that prices can only go up from here and now with interest rates being at record lows, it’s a “Win Win” situation. I can remember 5 years ago when I was just getting interested in property, you could not  find a house on Carolina Beach that was under 200K that wasn’t a “tear down.” Now it’s amazing what you get for that kind of money.

There are more than 300 properties listed on the MLS on Carolina Beach today. Most of them are fantastic  deals. One property that come to mind is 513 Canal Dr. A-7. This is a 3 bedroom, 2 full bath condo located  directly on the Sound. Off of your back deck you have views that a king would appreciate. If you are into boating, this condo would suit all of your needs. While on your back deck, with the beverage of your choice, there is usually some kind of boat that is slowly passing by. You have sailboats, shrimp boats, charter fishing boats, yachts, personal cruisers, etc… The list goes on. Not only do you get to enjoy the scenery of everyone else’s boat but this particular property comes with a boat slip. Not just any boat slip either. This unit A-7 has a 50‘+ slip that can hold your Jon Boat all the way up to your personal yacht. If you don’t have a boat, the HOA allows you to rent your boat slip as long as the renters abide by the HOA rules. If that doesn’t entice you enough already, the sunsets will. Have you ever looked over the Sound at night? If you have, I know you would agree that the views are just as spectacular. With all of the lights, it’s like Christmas time 365 days a year. If you’re an ocean person, the front deck will be to your liking. Because unit A-7 is on the third floor, it allows incredible views of the ocean. Just steps from the beach you hear the waves crashing. There’s nothing more relaxing, of course with the beverage of your choice. Unit A7 also happens to be a corner unit as well. What does this mean? It means that while your inside your home the views are still there. There are windows all along the side which gives you expansive views of both the Sound and the ocean all while relaxing in your living room.

So, if your fortunate enough to buy property, I would recommend everyone to come see this property and I know would agree that for $219,000 this is one of the best buys on Carolina Beach. Call Jeff Humphrey for showings @ 910-443-7558. This fabulous unit is vacant and can be shown on a moments notice. Come by and check out 513 Canal Dr. A-7 and see what living is all about. You won’t regret it!