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Old 04-03-2015, 01:19 AM
 
1 posts, read 1,944 times
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Hi all, my husband is an officer in the Navy and we are getting stationed at Camp Legeune this summer. We are trying to decide between renting and buying a house for us and our 4 children. We have zeroed in on either the Carolina Forest neighborhood of Jacksonville, or Sneads Ferry as places we would like to live. In your opinion how is the housing market there? Is it a good time to buy? If we do buy will we be able to rent our home out when we get moved in three years? The market looks extremely saturated to me? Is it always that way just because of military turnover or are houses sitting vacant for long periods of time? Any up to date advice would be appreciated.
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Old 04-03-2015, 06:09 AM
 
Location: Sneads Ferry, NC
11,258 posts, read 19,791,183 times
Reputation: 5087
Quote:
Originally Posted by Militarymom4321 View Post
Hi all, my husband is an officer in the Navy and we are getting stationed at Camp Legeune this summer. We are trying to decide between renting and buying a house for us and our 4 children. We have zeroed in on either the Carolina Forest neighborhood of Jacksonville, or Sneads Ferry as places we would like to live. In your opinion how is the housing market there? Is it a good time to buy? If we do buy will we be able to rent our home out when we get moved in three years? The market looks extremely saturated to me? Is it always that way just because of military turnover or are houses sitting vacant for long periods of time? Any up to date advice would be appreciated.
Hello - I live in the Mimosa Bay neighborhood of Sneads Ferry where 80% of our neighbors are military. Many of them are starting to list their houses in expectation of summer transfers.

My opinion is that Sneads Ferry is a decent place to buy, especially if you would consider retiring in this area. The market is starting to get saturated, as new developments are being started, eg, Nautical Reach.

Much also depends on what the Marines do with staffing levels in the future. If there is a severe cut-back in the enlisted ranks, the lower-priced end of the market, like Nautical Reach, will be hurt a lot. I think more upscale places like Mimosa Bay are a safer bet, because it will remain attractive to baby-boomer retirees.

I think that Carolina Forest is also a less safe bet because it is not close to the beach and not attractive to retirees.

FYI - We are baby-boomer retirees with no connection to the Marines, and we are very happy here.

Note: Houses large enough for 4 kids in Mimosa Bay sell for $290-335K. Houses in the Nautical Reach development are more like $225-250K.

Last edited by goldenage1; 04-03-2015 at 06:29 AM.. Reason: Added price range note.
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Old 04-03-2015, 10:15 AM
 
Location: Sneads Ferry, NC
11,258 posts, read 19,791,183 times
Reputation: 5087
Quote:
Originally Posted by Militarymom4321 View Post
The market looks extremely saturated to me? Is it always that way just because of military turnover or are houses sitting vacant for long periods of time?
House sitting vacant for a long time are either overpriced, or have issues. Around Sneads Ferry you need to watch for issues with water on the lot when a house is near a creek or pond. However, Mimosa Bay is a great area for families with kids.

If you would like some info from a neighborhood resident on some of the houses listed at Military by Owner, I can help. I would suggest the two 5-bedroom rentals priced at $1750 and $1900.
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Old 04-04-2015, 11:51 AM
 
Location: Swansboro, NC
107 posts, read 215,166 times
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What do you desire to know?
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Old 04-06-2015, 09:51 AM
 
Location: Southport
4,639 posts, read 4,813,182 times
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Quote:
Originally Posted by CrystalCoastHost View Post
What do you desire to know?
Well, in her post she asked:
  • In your opinion how is the housing market there?
  • Is it a good time to buy?
  • If we do buy will we be able to rent our home out when we get moved in three years?
  • The market looks extremely saturated to me? Is it always that way just because of military turnover or are houses sitting vacant for long periods of time?

So I would guess thats what she desires to know.
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Old 04-06-2015, 06:33 PM
 
Location: Swansboro, NC
107 posts, read 215,166 times
Reputation: 92
Actually, it's always a good time to buy. There are some real bargains in the market. Saturation is great for buyers, not so much for sellers. Not every seller is in a bind. Some people want new construction, but in the Onslow, but when you decide to sell, the new construction can be your worst enemy. I suggest looking at resale homes in established neighborhoods if a buyer wants to look for some bargains. Short Sales in newer neighborhoods. Don't be afraid of the market. Shop wisely and compare new to resale, area to area. Easier to rent an 800 a month home payment than a 1600 a month home payment.
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