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Old 10-12-2008, 12:53 PM
 
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I'm pretty sure it isn't Wrightsville Beach. Any thoughts?
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Old 10-12-2008, 04:26 PM
 
Location: Morehead City, NC
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giffman,
I think your question is about 2 years too soon to be answered properly. Well-for some markets anyway.
I can tell you this since I do businees in two systems-The Neuse River/New Bern market never exploded like the Crystal Coast market did. So the "correction" will be less up in New Bern.

Below is from a post I made here at City Data Dec. 2006. I would be curious to see how Wilmington fares through all this;

Most Expensive Housing Market In North Carolina

According to Business Week Online the most expensive housing market in North Carolina is Wilmington. The least expensive market is Greensboro.
The 2006 year to date average price for a residential property in Wilmington is $335,725 and the average price for Greensboro is $175,000.
Incomparison Morehead City has an average price of $275,314 and Beaufort $272,057*

Will I like Wilmington/wrightsville Beach?

* The current YTD average sold price for a Mohead City home is: $325,216 and for a Beaufort is: $275,875
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Old 10-13-2008, 09:03 AM
 
Location: Morehead City, NC
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Greensboro is 240 miles inland.

Well, at least during this particular point in time it is!!
(Sorry-Couldn't resist!)
Bill
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Old 10-24-2008, 01:44 PM
 
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Quote:
Originally Posted by giffman View Post
I'm pretty sure it isn't Wrightsville Beach. Any thoughts?

Check out Carolina Beach. It isn't nearly as desirable as Wrightsville, but prices there have taken a huge hit.

I've been told that foreclosure rates there are on par with Florida, Nevada, California, etc., but take that with a grain of salt.
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Old 10-24-2008, 04:05 PM
 
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Price corrections are taking place all across the country.Here in New Hanover and Brunswick, the biggest corrections have and are taking place in Carolina Beach, Oak Island and Holden Beach, due to a variety of reasons, the main one being speculators. On the flip side you have many sellers still not in touch with the market and still asking prices from 2 years ago. Some simply don't have to sell, and are able to wait the market out.
Keep in mind everything is negotiable.
For the most part, the other areas in these counties did not see the spike in property values and have increased in value steadily. Buying into a foreclosed area is very tricky, due to the fact that one is dealing with an area that will continue to see property values decline. Foreclosures affect the entire property values of other surrounding properties. The scariest thing for Buyers, at the moment, is purchasing and watching their value decrease rather than increase.
Your best bet is to avoid the foreclosure areas, concentrate on areas that are and will increase in value, such as Leland and Southport.
If you are seeking to buy, I would highly recommend enlisting the aid of a Buyer Agent to represent you, get pre-approved by a lender, and have a time frame in mind. If you are just looking at the moment or are planning to buy a few years out, do your homework, determine where you want to be, and then focus on that area.
There are many realtors on this forum, and all would be happy to assist you, but it really is up to you to decide the "where".
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