should we move to oak island nc
Posted 10-12-2008 at 01:55 PM by poormtnmom
We have been vacationing on Oak Island for years and now have the opportunity to buy there now and make a move there in two years. We will have an eighth grader when we make a permanent move in 2010. I have heard that South Brunswick Middle/High School is not very accepting of new students and that there are a lot of troubled teen enrolled in the school, as well as on the island. I have heard that there are a lot of drugs on the island and the crime rate is going up. Now I am up nights, not being able to sleep, wondering if we are making the right move for our family. Why are there so many homes for sale on Oak Island? Are the residents trying to get away from all the bad I'm hearing about, or am I just over reacting. Please help as we are looking to buy in the next six months and do not want to make the wrong decision. Thanks in advance.
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We moved to seacrest beach. fl. with our high school senior. He loved the area here as much as us so it was easy. He's outgoing and was accepted at the local school right away. Check with the local police and the chamber of commerce about crime rates and drugs. There are so many homes for sale because it's a huge vacation rental spot. People were buying anything they could a couple of years ago. The prices kept climbing so resales would net the investors quick, high percentage returns. Then came the real estate crash...you know...the $700 billion bailout crap. Investors had spent their money on homes that suddenly were losing their value and were mortgaged for more, sometimes much more, than they were worth. Those people are stuck. They have homes that have huge payments but they aren't worth that kind of money anymore.
If you are serious about buying, look for a short sale. The lenders will accept very low bids just to secure the property. The sellers are out from under that big mortgage and the buyer gets a good deal. That's why so many homes are for sale. It's the same way here.
Good luck!Posted 10-14-2008 at 07:27 PM by On-da-Beach
