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Old 02-19-2017, 08:32 AM
 
3 posts, read 2,331 times
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Hi All,

We are just beginning our search for a beach home in the Brunswick County area after vacationing there for more than 20 years. We're looking for a waterfront home, either canal or ICW, with 3+ beds and 2+ baths, nothing fancy. Doesn't necessarily have to be on the island and would sacrifice walking distance to the beach for a great view on the ICW.

After trolling Zillow for quite some time now, it's been hard for me to get a feel of what the going rate is for a home of this type in the area. It seems like many of these listings have been on the market for over a year and the prices don't seem to follow any consistent trend, the comps are just all over the place. Do homes typically sell for well below list price in the area?

While I know Zillow isn't the most reliable source in the world, it's the best option I have to try and do some research on what to expect. Checking sold listings vs. list prices, the listings I've reviewed have sold for approximately 25% below ask, on average over the past 2 years. Also, it seems like a lot of homes I'd been monitoring were pulled off the market for the winter (assuming since they were pulled from the market and no record of sale on the county website). Do listings tend to increase in the spring?

Any information or insight would be greatly appreciated! Thanks!
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Old 02-19-2017, 09:12 AM
 
Location: Wilmington, NC.
98 posts, read 77,812 times
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I can tell you someone who just sold a house in Wilmington said the market is crazy hot right now. Houses go on the market and are getting multiple offers the first day. I'd think the whole coastal area would be included in that "hot market". Your best bet would be to find a realtor and get their MLS so you can be alerted to the newest listings. Also drive through the areas you like cause any "for sale by owner" won't be on any listings. They want to keep the ALL the money. And they know the markets great, so they don't need the listings.
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Old 02-20-2017, 11:47 AM
 
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Quote:
Originally Posted by hsw55 View Post
I can tell you someone who just sold a house in Wilmington said the market is crazy hot right now. Houses go on the market and are getting multiple offers the first day. I'd think the whole coastal area would be included in that "hot market". Your best bet would be to find a realtor and get their MLS so you can be alerted to the newest listings. Also drive through the areas you like cause any "for sale by owner" won't be on any listings. They want to keep the ALL the money. And they know the markets great, so they don't need the listings.
nothing to do with a beach house
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Old 02-20-2017, 11:52 AM
 
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As hsw55 suggested, it sounds like to me you are ready to engage a realtor. A good one can answer all your questions.
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Old 03-03-2017, 04:33 AM
 
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Hey Banks_... can't help with your original post, but wanted to mention that if you do decide to go the realtor route, I can recommend a very good one. We just moved here from Chicago 3 months ago and we are very, very happy with our realtor.
best of luck finding an awesome beach property!
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Old 03-03-2017, 06:14 AM
 
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Report: Brunswick County home sales surge in spring | WilmingtonBiz

Brunswick home sales hit 7-year high in 2015 - News - Wilmington Star News - Wilmington, NC


2015-2014 Brunswick County NC Home Prices


Some generally good data on home sales in Brunswick County in the past couple of years.

Do the number of listing increase in the spring? There are so many variables its hard to say. Do people say 'It's so nice at the beach this time of year, should we buy?' in the spring or do they say 'It's miserable cold here, should we buy a home at the warmer beach?' in the winter.

Right now the market in homes is pretty 'hot'. Lots of new homes and resales.

Houses go on and off the market for a variety of reasons. Houses that stay on the market a long time right now probably have some issue. A poor real estate agent, its over priced, its underwater and the owner will not take a loss, mechanical issues, location etc because good deals do not seem to stay on the market very long right now.
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Old 03-04-2017, 05:44 AM
 
Location: Southport, NC
152 posts, read 142,175 times
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Instead of Zillow, try Realtor.com
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Old 03-04-2017, 08:08 AM
LLN
 
Location: Upstairs closet
4,981 posts, read 8,749,431 times
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Used to live down there on waterway (why did we move???). A lot has changed and now St James is across the ICW, but I would really really really recommend you focus on ICW. Good Luck
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Old 03-07-2017, 12:20 PM
 
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Thank you all for the responses, very much appreciated. We've just gotten back from a weekend of window shopping in the area and we're leaning toward the idea of a more traditional, older beach bungalow style canal home. Nothing fancy but with a good location and potential.

My question now is, since these houses are obviously very close quarters on the main floor, are there any regulations that complicate finishing the ground level as a rec space with an additional bedroom? Obviously I'm not expecting this addition to be insurable, which is ok, and I know many other canal homes do have finished sub areas, but most seem like they could have been grandfathered in.

We've narrowed our focus on Holden Beach now and are very excited!
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Old 03-07-2017, 01:27 PM
 
6,800 posts, read 4,443,919 times
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Quote:
Originally Posted by Banks_ View Post
Thank you all for the responses, very much appreciated. We've just gotten back from a weekend of window shopping in the area and we're leaning toward the idea of a more traditional, older beach bungalow style canal home. Nothing fancy but with a good location and potential.

My question now is, since these houses are obviously very close quarters on the main floor, are there any regulations that complicate finishing the ground level as a rec space with an additional bedroom? Obviously I'm not expecting this addition to be insurable, which is ok, and I know many other canal homes do have finished sub areas, but most seem like they could have been grandfathered in.

We've narrowed our focus on Holden Beach now and are very excited!
I'd check with the Holden Beach building inspector and ask. They may not give you a building permit if its in a flood zone.
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