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It'll be my first time heading to NC, so I can use some expert advice! I'm originally from San Diego and currently living in Northern VA. I'll be stationed in Lejeune for a few years starting in July and was debating on purchasing or renting a home around the Holly Ridge, Sneads Ferry, Topsail area. In San Diego, the housing market is back on the rise. What's the situation out in NC? Would it be more burden if I don't see myself settling in the area? Thanks in advance!
It'll be my first time heading to NC, so I can use some expert advice! I'm originally from San Diego and currently living in Northern VA. I'll be stationed in Lejeune for a few years starting in July and was debating on purchasing or renting a home around the Holly Ridge, Sneads Ferry, Topsail area. In San Diego, the housing market is back on the rise. What's the situation out in NC? Would it be more burden if I don't see myself settling in the area? Thanks in advance!
Dan
If you're originally from San Diego and like it there, you probably won't want to settle in ENC once you see it. Housing is generally alot cheaper than SD. If you're only going to be there a couple years, it probably isn't worth it to buy..
I would probably rent. DH and I seriously contemplated buying when he was based there but in retrospect I'm SO glad we didn't. The housing market continued to go up in spite of the recession but then started dropping off within the last couple of years- we know a good few people that bought at the height of Jacksonville's 'bubble' and lost money when trying to resell.
Part of the issue is that the housing market surrounding Lejeune is largely dependent on the base, and nothing else. A lot of new subdivisions started popping up quickly in the 2000s when Lejeune was packed to the brim, but once they decided to downsize, it made a lot of the houses, especially in the older areas, difficult to sell and difficult to rent. If the base downsizes again, there will be yet another fall in house values.
My husband's best friend had his house up for sale for a year and a half, and ended up taking a $40,000 loss (he was PCSd to Cherry Point, which is too far of a commute daily from the Lejeune area). The house DH and I rented, I noticed recently is still listed for sale (the owner listed it after we moved out), so has been on the market over a year, despite a $20k drop in price. Suffice to say, it's not a hot market.
Unless the Marine Corps decides to bulk up Lejeune again, buying a house in the area probably isn't a safe bet. Even if you buy a new construction in an outlying town, with the base as the main source of the areas economy, your house value, assuming you'd be buying for investment purposes, is at the mercy of the base.
If you planned to live there forever and retire there, that would be totally different.
I agree with the other poster though that after seeing the area, it's doubtful that will happen! If you're used to San Diego and similar, you're going to be greatly disappointed (I sure as heck was, haha! )
Unless the Marine Corps decides to bulk up Lejeune again, buying a house in the area probably isn't a safe bet. Even if you buy a new construction in an outlying town, with the base as the main source of the areas economy, your house value, assuming you'd be buying for investment purposes, is at the mercy of the base.
If you planned to live there forever and retire there, that would be totally different.
Agreed. I am seeing a lot of brand new construction going on in Sneads Ferry and Holly Ridge, especially in the lower price ranges, $160K-200K. So, I think there will be a surplus of housing in two years. If you don't mind keeping a rental house, you could be OK.
Thanks for the information. It looks like buying property for investment wouldn't be such a smart idea. With regards to grocery stores, shopping centers, etc how do these towns stack up, Sneads Ferry, Hampstead, and Holly Ridge?
goldenage1 still lives in the immediate area (Sneads Ferry) so will probably be best able to answer that... however, when we lived in the region (like I said, we moved a little over a year ago), Holly Ridge and Sneads Ferry didn't have much in the way of amenities.
Hampstead, of the three, has the most as far as basic amenities go (groceries, drug stores, etc), but there still isn't a whole lot there, and it's definitely the longest commute, although doable.
In Sneads Ferry there is a grocery store (Food Lion), a CVS, and some other smaller stores (a Dollar General, etc) but not a whole tonne of options. Holly Ridge has even less- I don't think there is actually a grocery store in Holly Ridge proper, although that may have changed. Your closest grocery stores to Holly Ridge would be Food Lion and Harris Teeter in Surf City. Until recently, Holly Ridge was a whole lot of nothing- it's grown dramatically in the last few years so there is always the chance that new amenities will be arriving eventually. I think they've built, or are building a Wal-Mart neighborhood market (a very small Wal-Mart with just the grocery section, not everything else) in Surf City.
For most of your beyond-basic-grocery shopping needs (Target, Super Wal-Mart, Mall Shopping, specialty shops, etc) you would probably be venturing into Jacksonville or Wilmington.
Of the three towns listed, I would personally prefer to live in Hampstead because it's closer to Wilmington (and Wilmington has a lot more to offer than Jacksonville in terms of quality of life, amenities, etc)- but you would be faced with a 1 hour commute each way, each day, possibly more, even if you hit the 'back gate' of Camp Lejeune (assuming you'll be working somewhere around the center / main section of Lejeune). I know people who have done it, or who even commuted from Wilmington each day, but I'm sure the drive definitely gets old pretty quick!
The only investment property that is wise in that area is waterfront/water access or on the beach...if you can get a great deal. A condo on the beach wouldn't be bad.
Otherwise the construction boom in that area is expected to continue...and eventually the Hampstead bypass as well.
Besides the grocery stores mentioned...there is a new Lowe's Foods (and associated strip center) across from the Topsail High School complex on 17.
Finally...there will be no comparison to either Northern VA or San Diego....the area between Jacksonville and Wilmington is formerly rural (Highway 17 was a 2-lane road 20 years ago), formerly quiet beach/fishing area that is just now being developed. Traffic volumes increase every year. There is a lot of room to grow in this area...so let the big investors do their thing. I believe there was a 2,200 unit development approved near Topsail High School recently...that type of stuff. I foresee that area where the Hampstead bypass dropping off near the road to Surf City as the long term hot spot for development, mostly commercial...I think there could be a mixed use project in that area eventually.
Hampstead, of the three, has the most as far as basic amenities go (groceries, drug stores, etc), but there still isn't a whole lot there, and it's definitely the longest commute, although doable.
In Sneads Ferry there is a grocery store (Food Lion), a CVS, and some other smaller stores (a Dollar General, etc) but not a whole tonne of options. Holly Ridge has even less- I don't think there is actually a grocery store in Holly Ridge proper, although that may have changed. Your closest grocery stores to Holly Ridge would be Food Lion and Harris Teeter in Surf City. Until recently, Holly Ridge was a whole lot of nothing- it's grown dramatically in the last few years so there is always the chance that new amenities will be arriving eventually. I think they've built, or are building a Wal-Mart neighborhood market (a very small Wal-Mart with just the grocery section, not everything else) in Surf City.
For most of your beyond-basic-grocery shopping needs (Target, Super Wal-Mart, Mall Shopping, specialty shops, etc) you would probably be venturing into Jacksonville or Wilmington.
Of the three towns listed, I would personally prefer to live in Hampstead because it's closer to Wilmington (and Wilmington has a lot more to offer than Jacksonville in terms of quality of life, amenities, etc)- but you would be faced with a 1 hour commute each way, each day, possibly more, even if you hit the 'back gate' of Camp Lejeune (assuming you'll be working somewhere around the center / main section of Lejeune). I know people who have done it, or who even commuted from Wilmington each day, but I'm sure the drive definitely gets old pretty quick!
This account is accurate. I'd suggest Hampstead/Topsail Island if you have kids, as the schools are better rated.
The Walmart neighborhood market in Surf City is already open or set to open very soon. The shopping in Sneads Ferry is basic, and if I want gourmet food, I go to the Harris Teeter is Surf City.
Thanks for the information. It looks like buying property for investment wouldn't be such a smart idea.
Our development, Mimosa Bay, has seen modest price appreciation. Most of the homes are owned by officers, and are priced from 280,000 to about 335,000. It is quite attarctive, and you might consider renting there.
Where I see a glut of houses being developed is in the lower price range which could be bought by the enlisted men. I just don't see how the builders will find customers for hundeds of new houses.
However, if you bought carefully in an upper price-range, you might make money. Topsail Island with beach access might be a good idea.
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