North Carolina Oceanfronts & Oak Island homes for sale

Oak Island Real Estate Shift — higher days on market but prices hold steady!

HomesWebAdmin — Wed, 01 Mar 2023 15:54:00 +0000

Oak Island Real Estate Shift in the Market

This is Jay Seville of Ocean Views Real Estate, Inc in Leland NC. Our brokerage is in the Cape Fear Association of Realtors. Our main website is Wilmington-real-estate.com. It has a really nice layout of the listings for various niches such as ocean front condos in Carolina Beach or oceanfronts you see right here Oak Island. In Oak Island significant there was a major shift in the market. Back when I was showing property in the Spring it was brutal. The homes tended to be under contract in two to the three days . There were three to six contracts on all the homes, and you know fortunately my people won most of the time. I’m very good at this; usually when there’s multiple offers I win three of four contracts so I’m just really in tune with different niches in real estate around SE NC. If I’m working with someone I can tell something’s going on in the market and you can exploit it and make the most of it. not many agents can negotiate contracts like that and and feel that opportunity for negotiating harder. And sometimes it has to do with being in a market all the time. For example I just closed a few months ago a second row home in Oak Island. It was listed for about $550,000 and we got it for $350,000. I smelled blood in the water and we took advantage of it. It was really worth $450,000 so my clients were amazed! They’ll be able to rent it for $50,000 a year after the renovations.

You see this is Oak Island for single family houses ,three bedroom two bath type of scenario and it shows you here that the days of Market was about 10 okay over here and then it went up to 14 so pretty minor little increase in showing right there from 10 to 14 days on Market. That is not that dramatic though. But is that accurate for days on the market for Oak Island Real Estate? No it’s not and I know because of boots on the ground experience. I have some homes that were under contract…you can see 3 days, another one was under contract in like 18 days, one day, two day, one day. Okay so that was the Spring, and in April and May you had crazy Market where things are just under contract right away. Contrast that to homes that are under contract right now you have right here…let’s see four days but 195, 68, 236, and 121 days. These are homes under contract in Oak Island right now. So we’ve gone from 4 days to months on the market so this data is faulty. Somehow they’re not measuring it correctly. I know that the days on market for a lot of the homes now; it’s not 14 days.

Oak Island Inventory Grows

What about the home values? Have they changed in Oak Island? The first sign of a crack in the market or a change is that you’ll have higher days on the market (DOM) and an increase in inventory. Let’s look at the supply here in Oak Island. You’ve got first…let me get rid of some of these Circle things here. So with Oak Island we do have we’ve gone from right here one month to almost 2 months of inventory. So that’s actually a pretty big deal. So we do have a big increase in the supply homes in Oak Island. Essentially they have doubled and I have another really good graphic on that. Let’s see if I can find it here. Three bedroom homes have gone from there was 18 homes for sale back in the Spring 2022 and now there’s 30 homes. So again that matches up with that other data is the months supply of homes has doubled. Usually that means home values are going to go down. They’re going to adjust; it’s more competition and a bigger supply and stuff. But it doesn’t always play out that way which brings me to the next graphic.

Oak Island Prices Hold Steady

So let’s look at the prices now. what I did you have to take light scenarios so I went back and took homes that were in this, and I took homes that were in this little area here where it’s on the northeast side and I took you know fairly modest 1500 square foot homes in the area because these have their own value compared to the other side. It’s ideal for rentals because people can walk straight down to the beach here or golf cart ride to the beach. So they’re great for vacation rentals, and they have some more intrinsic value here compared to the other side of the island. So when I pull the numbers –I’m trying to keep them all in the same spot and let’s see if I can highlight these– yet in April and may you have homes closing in the Northeast three bedrooms two baths… these were closing you know like 575 and you’ll see here the same square footage they have 1526, 1536, 1617 square feet…now same square footage. And those have gone for $570,000 and $605,000. Now that that one going for $605,000 recently. That is a little bit high because it had a .3 acres instead of 0.15 acres. So it was a double lot and as you can see it also really was a crip and clean and updated. And inside here’s a better picture of the kitchen with some new tile and stuff along with newcabin ets and all that. So it’s showing real well so if it didn’t have that it would have been in $575,000 like these like these others from April and May. So my point is the home values have stayed steady in Oak Island and they haven’t changed much yet since we have more inventory. But it is taking longer to sell.

With other markets for example in Leland I think I pulled one up; you had homes taking you know 1, 3, 5, 4 and 2 Days in Leland back in the Spring. And now if you look at it we have 25, 16 and 85 days on market so it’s like triple the days on market. So it’s all playing out across the region. Every region has its own little timetable for the corrections that are going on, but the prices have not changed–at least for Inland homes.

The ocean front homes are in a different category and they have changed in values. The Oak Island oceanfronts closed at $925,000–small cottages, and now there’s been several that are listed for $775,000 and like $825,000 so you see a 5% correction. There may be a 15% correction underway and the same thing in Carolina Beach oceanfront condos. Because of the length of time we can make really low offers now. Some sellers will just say screw it I’ll take it because they’re tired of waiting. And that’s how you sort of get the right price, and that’s sort of how we fix the market and get it down to the more appropriate price. I I look forward to working with you soon!

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8% — Carolina Beach NC Prices Come DOWN for Oceanfronts condos

HomesWebAdmin — Thu, 19 Jan 2023 17:50:53 +0000

Ocean front prices crack for Carolina Beach condos

Hi. This is Jay Seville the owner of ocean views real estate Incorporated in the Cape Fear Realtor Association, and the main website we work with is Wilmington-real-estate.com. today I thought we’d look at the subject of oceanfronts Carolina beach ocean front condos and trying to hammer out what are the new market values for oceanfronts. What is the market like for Carolina Beach oceanfront condos and some side commentary on the overall Market? And I haven’t uh done much writing or concentration for a while I’ve been busy I’ve been distracted I bought another house. a lot of my insight on the market comes from my boots on the ground experience in negotiating contracts such as how many offers are on the table when I write contracts, how long have these homes been listed when I show them, etc.? And I’m talking about a wide spectrum of properties.; I’ll be showing Oak Island homes in the 400s; I’ll be showing homes in Brunswick forest in the 500s. I’ll be looking for homes for a bigger investor that wants at least six bedrooms that grosses $200,000 a year oceanfront on any Beach so my eyes are peeled and lots of different niches of real estate at all time, and sometimes I get really focused in one Niche while other times I’m spread across four simultaneously. So it just depends but anyway uh the market is very different than it was in April and May 2022. That is what I’m going to call it was a real estate frenzy some weird prices happened there. It was a brutal time to buy a house. I wrote so many contracts because there was you know three to eight offers on each home, Etc. so it was just quite laborious. I do tend to win three out of four offers when there’s multiple offers which is just unbelievable. No one comes close to me, but still it’s a lot of extra work dealing with multiple people in an extreme seller’s market type scenario.

Carolina Beach Ocean front prices drop 8%

So let me just show you some examples and we’ll pop around a little bit. One of the things that bothers me about real estate uh stats is often the the numbers are not really like indicative of what’s happening out there. Here is Carolina Beach oceanfront condos. These are oceanfronts and I’m calling out in particular uh two-bedroom units okay and according to the stats the days on Market is five, four and five for all this time period. But these stats are just not accurate in a lot of ways that I come across– in particular days on market! And I know because I’m out there showing properties and for a while I’m showing homes and everything is under contract in three days. Then months later I’m showing homes in the same area again and everything’s been listed for 45 to 60 days, and I’m telling myself wow this is completely different way of doing business. Now I can low ball and this is going to be a lot more fun.

So I’m going to pull some currently active homes that are under contract or that were for sale and show you the difference. Supposedly the data shows all these are four and five days on the market for this niche of real estate oceanfronts and Carolina beach for condos, but the reality is if you look here you’ve got this one’s been active it’s been active 144 days. This one the 181 days, 104 days, 83 days, 78 days okay so uh you get the the point. And then if I go further down here’s one that was also 178 days and then uh then 65 days so um that is quite a difference compared sold last uh last year and you you go look at the ones that were sold in the spring last year like September that’s listed in April and May April then we’re going to compare and see the days on Market here starting with this one for 6 30. and that was yeah a lot of them were four to ten days okay. If you look at other niches like one bedrooms a number of those were just like one in two days so we’ve gone completely to a different Arena now where the homes and the oceanfront condos…a lot of them are overpriced and they’ve been listed for four months: 144, 78, 178 and 181 so there’s been a profound difference in the Carolina Beach oceanfront Market. The homes are now listed for months and months and what you have are sellers clinging to Old Market values, and what I mean by that is during that frenzy in April and May we had some really high sold prices like this one was $640,000 it was only 815 square feet 580, 821 square feet, 631, 828 square feet and let’s see but you get the idea they were closing like $620-630,000 and now you go look at the similar size uh units that are active and we have instead uh 550, 559, 610,000. Here’s here’s uh another one 589, so you’ve got all these but then some people are still hanging on to these old prices of 620. Well if all these are listed for 560…I’m sorry you’re not worth 620 anymore you’re like you’re like smoking crack and wasting our time.

So what is the lesson from all this ? The market has changed for oceanfronts in North Carolina using this particular Niche we see the days on Market is much higher which gives you a great chance to put in a reasonable price a lot of these Oceanfront 2/2s (2 bedrooms 2 bathrooms) that are listed for uh 550, 560, 610 you know they’re worth maybe 550 but it’s legit to offer $500,000 flat so the problem is if you go to this dude and He’s listed 619 and you offer 500 they’re just gonna not even respond to you probably. So we have a problem where the sellers are behind the market. It happens every time we have a frenzy the seller is always six months late and they’re crucifying themselves that they didn’t sell back in April 2022 and so the point is it may take several homes of low offers to find someone who has an epiphany and wants to do business with us. I go through this process every few years and it’s messy but it always works out oh by the way just another example at Oak Island you had a three bedroom two bath Oceanfront Cottages. But I’ll just put it this way they peaked around $920,000 and now there’s several listed for like 775 or 800 so we have had a solid five percent correction sense May and does that apply to Inland Real Estate? No, not necessarily because Oceanfront vacation rentals are totally different than Inland Real Estate. They almost have nothing to do with each other. One can be going up while the other is going down and vice versa; it’s it’s two different Arenas. A lot of that is because it’s all about cash flow expenses and the rental numbers right now if a home is grossing a hundred grand a year uh its expenses used to be 40,000 a year but now with the mortgage its expenses are 60,000 a year so the investor is short 20K of what they used to have. So the numbers don’t work anymore so therefore they can’t afford an eight hundred thousand dollar price anymore. To make the numbers work they can only afford a six hundred thousand dollar price, and that’s a huge discrepancy because of the interest rate change. So the point is you don’t have that issue with Inland homes most of the people buying these homes are actually moving into them so it’s not about cash flowing expenses anymore. It’s about necessity and a bunch of other variables.

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Best/Worst Months to Buy and Sell a Home

HomesWebAdmin — Sat, 09 Oct 2021 22:53:14 +0000

Real estate like many industries has cyclical nuances based on the calendar that have serious effects on buyers and sellers. Anyway since I don’t know your timeline on real estate I thought I’d put it out there that July/August/Dec/early January are usually the best times to buy from contractors like 2nd Chance Investment Group. The reasons have to do with prices retracting during these months and less buyers to compete with as most have taken a break from the market after losing 3 contracts in the Spring, gone on vacation, committed themselves to some family time with holidays, or recently succeeded in buying their home in the Spring or Fall.

For sellers, the worst time of the year to sell are the months listed above that is the best time for buyers to purchase until and unless you are planning to contact Home Buyers Birmingham and sell your home to them, cause in that cause you are guaranteed to get the right price for your house. Sellers listing in July/August/late Nov/Dec/Jan/early February are not going to get the highest dollar for their house. List at the time the demand is highest–not vice versa. I make it a point to tell any potential seller in these months I think we should wait a month or two before listing so don’t get caught on the wrong side of “the bump.” Imagine the angst of selling a $315,000 in Dec. only to find out they are selling for $342,000 in March. I will always shoot straight with you. So rather than losing money, you could take that break to get your residential roofs and many other things fixed to jack up the price when it comes down to selling the house again in a couple of months.

Reason July/August/Dec and early January months can be good for buying pertains to the cycle of price increases–often in Sept. (the fall market) and early Spring (the spring market) the prices go up in our appreciating market. Just waiting an extra few weeks at certain times such as mid-August or early January can cost one 10-15% on their home purchase. For example, the average home price in Arlington is over $700,000 and paying an extra $80,000 is an insane amount of money for waiting a few weeks longer for what one was planning on doing anyway when it was more convenient just because you waited an extra month. Get more updates on prices and learn more about Palmetto Dunes from The Pattisall Group.

The bump in the Fall is smaller than the one in the Spring but several percent on a $350,000 is VERY significant. The point is if one is going to buy…it’s dumb to do it several weeks late and spending $10,000s of extra for same property. In the Fall the buyers flood the market again as they get into their routines–kids going to school, working w/o vacation planning/interruptions and a whole new set of buyers that are just starting with the hopes of being in a new home by the end of the year. All of this means higher prices, multiple offers and writing contract after contract to no avail. This is not to be pushy but rather to provide a bigger picture for how this game is played. so work the timeline to your advantage rather than vice versa my friend. DO NOT GET CAUGHT ON THE WRONG SIDE OF THE BUMPS!!!

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Should I Rent or Buy a Home?

HomesWebAdmin — Sat, 09 Oct 2021 22:50:36 +0000

Choosing whether to rent or own a home is not an easy decision. It requires you to carefully examine the factors and costs associated with each option. Which is better? That depends.

Your unique economic situation, lifestyle and goals play the largest part in deciding what is better for you. It’s important to go into your calculations with open eyes and get professional financial advice Portland. As much as you want a home, you may not be able to afford it. Or it may not be the right decision for the way you like to live.

Factors To Consider When Buying/Renting a Home

The following four points are the largest factors to consider when weighing the pros and cons of home ownership vs. rental.

1) What are the total costs?

Many people look at the economics of home-ownership as a mortgage payment only. In reality there are insurance, repairs, property tax, homeowners association dues etc. that all have to be factored in to your monthly costs. Check out this calculator from the New York Times to see more.

Use a calculator and compare to see if:

The monthly cost as a homeowner is less than renting.
You can afford the monthly cost (if it works out more than renting in your area)
Saving a 10-20% down-payment is feasible for you.

If owning a home definitely the way to go for you, you need to be able to answer the above questions definitively.

2) What is important to you?

Are you more interested in building for the future, or reducing your financial risk until you can figure out a plan? You may want to own if you are thinking about starting a family. But as someone who is single, you may enjoy your freedom and having less financial debt. (Even if it is building your net worth in the long run)

Undoubtedly, buying a house only makes sense if you plan to set up roots. If you plan to move within (or every) 5 years, your transaction costs will likely bring the equity you build in your house to zero. Thus diminishing your upside while carrying all of the liabilities that come along with home ownership. Owning a home is a smart decision if you plan to stay for 10 years or more. Anyway, if you decide to sell the house in Atlanta fast and do not plan to invest in any renovation, contact Arbor View Properties to close the deal asap. Gettysburg Gutter Guards offer roof and gutter cleaning, repair and gutter guard installationat an expert level. They are a good choice if you plan to stay in one place over a long period of time.

3) What is your preferred lifestyle?

Do you want to build a career in a specific city or travel around? Do you have long-term goals in mind? It’s okay if you don’t. The most important part is being aware of where you are at. You may want to get some international work experience or try your luck in another part of the country. Or not.

Really think about what you want. You could lose some serious money if you buy a house and sell within a few years because you decide it isn’t for you.

4) What are the opportunity costs?

Think about the pros and cons of home-ownership. On one hand, you will always have a home base. On the other, you have a property that ties you down to a geographical location. Can you make more money in another city? With a home, you can’t move to pursue those opportunities.

If rent is equal to monthly payments as an owner, think about the opportunity costs of having all of your money tied up in the house. For example, some investors may rent and opt to invest their money in the stock-market or other investments in their portfolio. Can you make higher percentage returns yearly with the money you would be using for a down payment?

Rent vs Buying

The above were things you will want to consider. If you need to be realistic to make the right decision about renting vs owning a home. The below two situations may help if you aren’t able to come to a conclusion.

When is Renting a Home Better?

Despite popular belief, owning a home is not always the best decision. Let’s not be black and white. It depends on your particular situation.

You may want to rent if:

You want to travel and set-up shop in different places every few years.
You do not have the job or financial security to (realistically) guarantee payments for years to come.
You have demonstrated the ability to make better financial returns through other investments.

There are other factors. However, this is a good starting point to help you determine your argument for renting versus owning a home. The benefit of renting is not being tied down to a geographic location and being able to leave when your lease runs up.

When is Owning a Home Better?

Owning a home is the long-term game. You need to have your goals in mind and understand if you can afford it.

You may want own if:

You are okay with staying in one place for 10 years or more.
You have the financial stability to afford the home (and float payments if you lose your job)
You want to leverage your home as an investment property down the line (through rental)

Owning a home gives you an anchor. It helps you stay grounded by having a home base. At the same time, you can increase your upward potential by leveraging the home as an investment property.

In Conclusion

Choosing to rent or own your home is a big decision. It depends on your individual situation and vision for the future. In short, owning is traditionally the better long-term strategy. However, that’s not to say that you can’t do as good or better with the right investment portfolio.

Before jumping into anything, analyze yourself. Think hard about where you are and what you want for the future. Speak to a realtor and see if they have any advice for your individual situation. Visit BlondeGirlHomeBuyers.com for more tips.

If you are looking at purchasing property in the area, give me a call. I’d love to discuss your options and see if buying is the right path for you.

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Shell Island Resort condos bump up to $335,000

HomesWebAdmin — Mon, 08 Feb 2021 16:24:13 +0000

Shell Island Resort condos bump up to $335,000

Hey everybody this is Jay of the Wilmington realestate.com team. That’s Wilmington – real – estate dot com. I’m here at Shell Island Resort condos for sale and I have not updated you on these for perhaps a year. This is a condotel at the end of the Wrightsville Beach island and maybe if I can flip the camera around while I’m on video….let me see…you know I don’t think I can. So I’m not going to take the chance of ruining this video, but there’s been some major developments here in terms of market value of the Shell Island Resort condos. And it started off earlier this year with most of the units on floors 3 through 9 we’re worth about $300-310,000. However recently there has been a bump significantly and now almost all the units are selling for 335,000 dollars. So I participated in the bump with multiple offer scenarios, etc. and there are still a number of buyers on the sideline that are hovering waiting for a new listing. When it does come a good chance it’ll sell by day one.

And in case you’re seeing this video and you’re not already familiar with Shell Island Resort condos in Wrightsville Beach oceanfronts so there’s about a hundred and forty units are owned by individual owners the rent it out like a hotel with on-site manager. So the way the money works is they gross $45,000 in rent then there’s a huge HOA fee year 36%, and I’m not going to talk about that right now. But I do have a lot to say up about it and there’s also a $6,000 HOA fee. So when you take out all the money, all the fees, Etc. you end up keeping for example $14,000 of pure profit. So if you can put down enough of a deposit to have monthly payment like $1,000 a month then you then you have cash flow. And they probably used to sell for 400,000 so it’s a stable, consistent, reliable investment property. The return-on-investment it low, but people buy these because they love it for personal use and they take advantage of it being an investment property as well because this beach, Wrightsville Beach, is the bomb. It’s a very wide and deep, beautiful, the water is pretty clear. It’s a real special place and at the end of the beach over there when the tide goes out it’s like the Sahara Desert with white sand. Very cool stuff.

How the numbers work for Shell Island Resort condos

The property here has lots of a common area Renovations and updates because after Hurricane Florence there was major damage and they had to redo the restaurant and common areas so it looks fantastic inside. I call it upper-middle-class condominium or Resort and people love to hang out for a week. The other development here is that the first floor unit values those gross $25,000 a year so they gross much less. Before it was $22,000 but those have bumped up in gross rental income. They were selling for 220-240 and I think I think one now it’s close to $270,000 which is amazing. For a long time the first floor did not gain value. It was just sitting there at 225, but now I think they’re they’re worth 260 + so that’s a big development. And now they are not affordable for a lot of folks. I’ve had several people get priced out of the market. They had chances for the three years to buy and they kept sitting on the sidelines, and now they cannot buy so that’s frustrating. So there you go, most units are at 335,000 now up from 310,000. There was a big bump over the course September, October and November.

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Oak Island Real Estate Bumps 10% Past Month 2020

HomesWebAdmin — Wed, 02 Dec 2020 15:23:35 +0000

Oak Island Homes for Sale Bump 10% in November 2020

Everybody this is Jay with the Wilmington-real-estate.com Team and real quick and I’ll give you some head up going through an Oak Island real estate as we have a bump happening in real-time live. Literally in the last month and even maybe in the past 2 weeks there has been a 10% bump in the home values for properties that are under 400,000. Now I can speak to those because I’ve written three contracts in the last 2 weeks on properties and I’ll show you what has happened with them. But my point is it’s a frenzy of a market with some intense Market phenomenon going on, and this is to give you a clue of what it takes to win at Oak Island Real Estate. Here is a first example it was a condo at Oak Island Beach villa and that was listed for 290 . Comps were lower and we came higher and I think there was like four offers on it and we still lost. But then it really got interesting because we were over here at another property and the comps were like 260 and we went up really, really higher to almost 300,000 and they still picked another contract that was better than our contract and we even had a due diligence fee, etcetera. Now even though the comps were 260 and my instincts told us we needed to be up at 300 the point is my instincts were dead on. Sometimes the realtor with the boots on the ground knows the market where it’s at based on previous interactions, transactions, conversations and they’re ahead of the comps you might say because they’re in real time the market and ahead of the curve of the comps. Okay?

And then recently just a few days ago was over here at this other property little cottage in Oak Island and you had sales around 285 and we jumped on this knowing what I just learned from this, that the comps were 10% off. We went up 10% approximately and still lost this home for 319. So it was a crazy, crazy two-week experience with several different clients. Finally we got under contract here and sure enough that home is listed as a new construction home for what the true market value is today which is 10% over what the previous new construction solds home with that amount of square footage. I think this is about 1500 square feet.

So Oak Island the big message I have for you is that the comps are old if you’re under 400,000 you need to take the comps and add 10% to win otherwise you will lose to multiple offers. And the second message is…well I’ve got three….to do this effectively you really need a bird dog realtor like me who knows what’s going on and is aggressive and can go do videos of the home while you’re in another state and set you up to have confidence to buy. Often we need to make our offer on day Zero and get it off the market and then you can decide if you want the home or not. You may not even really want it. We can Terminate it 3 days later. you lose no money; there’s no risk. But this is how you win at real estate in this kind of market. And then four…for the properties of over 400,000 um I’m not chiming in on those because each quartile of real estate has its own Market nuances and Trends, and sometimes they are all together like this, and sometimes this one’s going up in the other one is going flat. So it really depends on what’s going on there.

Let me switch screens and show you a couple things. I believe I pulled up Oak Island here. Nope it’s a little slow. So let me just swap over to Oak Island real quick. This shows you some Market data for Oaks Island. The challenge were having is the supply. You know it’s gone from eight months of supply and now we’re down to 3.6 month of supply. We have the homes for sale. Here we go, A few years ago we were at 340 now were at 204. This includes the entire spectrum of real estate in Oak Island. So in your specific niche let’s say you’re looking for a 3 bedroom cottage under 450 that’s active there may only be uh six homes that are interesting. or for example if you’re looking under 300 there just may be 3 homes. So when a new one lists people jump on it right away. That’s why you have the days on the market right here you see how things have really gone from July 53 days on the market down to 36. So we’ve had like a 40% decrease in the days on market just since July. This is a recent phenomenon right here. I’m going to click and try to make this Flash, and it’s really intense. It’s like people have gotten past some covid maybe concerns or I don’t know, but people are all in right now that’s my main point.

Oak Island NC homes multiple offers and low inventory

The number of contracts is off the charts; you know we are like 840 homes that are under contract and compared to 550 3 years ago compared to just a year-and-a-half ago from 574 to 840. I mean that is like a 40% increase in the number of homes under contract. It’s just a year and a half ago. What happened is people have discovered Oak Island. it’s it’s no longer a secret. It was really undervalued is the problem for years. Because it was sort of not that well known compared to Carolina beach and other beaches. But now it’s discovered and now there’s a ton of new construction. People are selling the Lots now for 120 these lots a few years ago cost 50; So the builders they’re kicking themselves for not buying as many lots as they could have a few years ago but they’re they’re going for it. Um new listings… it’s just sort of static here not keeping up with demand at all and here’s your pricing. Um it’s just gone up dramatically. I did a really in detail analysis and for like properties over the last 3 years in values have gone up 31%. Now that was before this recent 10% bump so I’m betting a lot of the home values are up 35% compared to 3 years ago. So I’m just chiming in on Oak Island here and um I do hope to hear from you when you are ready to see houses. And I will give you some more updated nuances of the market and strategies and stuff soon enough. You have a great day.

The post Oak Island Real Estate Bumps 10% Past Month 2020 appeared first on North Carolina Oceanfronts & Oak Island homes for sale.

Things to know about a glass vessel sink

HomesWebAdmin — Tue, 15 Sep 2020 20:41:13 +0000

You may be in a tizzy after deciding to give your bathroom a facelift. While there can be enough excitement about this, the thought of expenses can make you dead worried about your bank balance. Well, don't allow this to ruin your peaceful sleep at night. You have many options to deal with it without being stressful. How? Start with small steps before moving up to an overall overhaul. You can make small changes in your bathroom to achieve the final look over time. For this, you can pick your sink area. Replacing a bathroom sink can be a cost-effective approach to add freshness to your worn-out space.

You can come across innumerable options in this category. However, if you decide to give your bathroom a trendy personality, you can focus on the varieties of vessel sinks. It is quite popular and has been there in use since pre-historic times when running water was a luxury found in only a handful of wealthy homes. Today, many American homes own it for its gracious appeal and modern lines. If you disagree, you should pore over the extensive range, consisting of an elegant glass sink and more. Although there are other materials, such as ceramic and mineral composite, a glass bowl is still the most attractive.

If you proceed with the idea of sink replacement, consider transitioning to a glass sink. It has multiple benefits for you to enjoy.

The advantages of choosing a glass bathroom sink

The one immediate difference that you can notice about your bathroom after installing this basin is the size. It can help create an illusion of spaciousness in any small or cramped area. The effect can be powerful if you opt for transparent glass material. Since it tends to have less visibility, your bathroom vanity can suddenly gain prominence. Besides, most of these models are countertop. So, when you place it on the countertop, the bathroom’s height also takes an illusionary larger form.

Tall people find this to be the most comfortable option. Most of the other sinks are undermount. Due to this, they have to bend over it a bit more to use it. However, a vessel bowl sits atop the countertop, providing better and easy reach to them. It doesn’t mean that short-height individuals will have a hard time with it. It is not so massive that they will have to struggle to get smooth access.
If you wonder about its installation, you can take a sigh of relief in this area. It is easy to install this basin. Drilling a hole in the vanity can be more than enough to fix it. You don’t have to carry out any extensive plumbing work for its fitting. As a result, you can expect to save money and time too.

Like some homeowners, you can be unwilling to put in effort in cleaning. From this consideration also, the glass sink can seem to be the perfect selection. You can use a soft soapy cloth with lukewarm water to quickly get rid of toothpaste and other stains. Just make sure you don’t leave out its outside edges and body. In essence, once you make up your mind for a glass vessel sink, you don’t have to hold yourself back. Still, other surfaces are also there with a stunning and attractive look if you can afford to spend time. You can explore them too for your satisfaction.

Points to consider before buying a glass sink

The intriguing glass sink varieties can be bewildering. The colors, textures, shapes, and everything else can be too convincing to opt for one. However, you cannot pick it based on its physical appeal just. You have to assess its performance amidst the bathroom ambiance so that you don’t regret your decision. For this, you can consider a few aspects. For example, since it is a glass base, you may think it will not survive long in a busy bathroom. But the tempered options tend to be sturdy and durable. Since they have to undergo extreme heat treatment, you can expect them to be five to seven times stronger than ordinary glass. Besides, the glass’s thickness allows it to endure your daily habits, right from washing hands to brushing teeth to grooming hair, etc.

You would need to know its size to understand whether your bathroom can allot one cozy corner. Typically, these sinks can be anywhere from 14 to up to 25 inches long. So, even if there is a space crunch, you can buy a smaller size. A small glass vessel sink can sit on a small vanity without eating into much of floor space.

Make sure you don’t put it in your young children’s bathroom. Although a glass sink is not fragile, you will still want to be extra careful with it. However, you don’t have to think twice before installing it in your personal or guest’s bathroom.
In the end, there has to be some consideration of the budget. Some glass sinks can charge you more for their design and textures. You have to identify one that does justice to your wallet. If something looks too expensive, you can choose a more affordable piece because even a simple glass sink can transform your bathroom’s overall feel and personality.
When it comes to buying an appliance, you cannot give its functional features a pass by merely focusing on its physical appeal. You have to ensure that your bathroom has a suitable plumbing environment for a glass sink to help it perform well while adding to the aesthetic beauty of the design and décor. Otherwise, you may not enjoy even the most attractive choice.

In stores, you get plenty of varieties. At the time of going through them, it would help if you choose something based on your bathroom setup and overall color scheme. If you get an ideal fit that can also transform the favorite corner of your space the way you desire, you
will be able to enjoy it more than anything else.

The post Things to know about a glass vessel sink appeared first on North Carolina Oceanfronts & Oak Island homes for sale.

Market Frenzy for NEW Homes in Oak Island

HomesWebAdmin — Wed, 22 Jul 2020 17:06:15 +0000

0 DOM — Practically necessary for NEW construction Oak Island

See video below and the new construction homes at the bottom of the page.

And here’s my cheesy logo; you can tell it cost all of I think $70. But honestly even if I spent $500 I don’t know that I could beat this thing. I mean this it totally cool if you ask me. Um, the website is here and I have here at Wilmington-real-estate.com Oak Island new construction homes. So quick a few of them are ground level. Usually they’re on pilings. I’ll have that coastal looking and stuff like that. One nice thing before I go into detail here on the market is uh here you can sort of click and see photos of the listings all from the home screen; you don’t even have to leave the main search screen to see photos. I have a bad connection right now by the way. Or you can actually click on the listing and see them all anyway.

What I wanted to talk to you about this this situation we have with Oak Island new homes for sale and the dramatic Market situation we have. For a little context here you go back to ‘06 there were 12 new construction listings–fly over to recent years there is 160 new construction listings. A little history is around 2012 you see here there was 25, 24, 27, there was a new construction boom at Carolina beach. And the prices started rising there. The actual land and lots to build on started disappearing. Around 2016 they ran out of places to build in new construction Carolina Beach so Oak Island showed up in dramatic fashion, and they quintupled the amount of new construction there within two years. From 2016 to 2018 it went from like 35 to 185. I don’t know what the word is for multiplying by 6, sextupled maybe I’m not sure.

But you get the point is that new constructions exploded in Oak Island and right now when you look at new construction in Oak Island homes for sale, this is what pulls up that has been built in 2019 or 2020. And the point is that I’m making here as you can see from all the yellow dots everywhere most of it is under contract even though it’s brand new. So what is the market like here if you’re trying to get a new home for sale in Oak Island? Well I’m sorting these uh by the date that they came on the market and we’ll see some tendencies here. Generally these homes are under contract within the first week–most of them within 1 to 3 days. So this one here came on the 17th, was under contract the 19th. This one came on the 14th, under contract the 16th. The one’s the 13th under contract the 16th. Oh, this one took a long time. Under contract the 10th , excuse me on the market the 10th, and the 16th. Scroll down to some more examples of these. This one was a longtime the 22nd, and that waited until July 6, but then the two underneath it the 22nd, 23rd. Uh again here one week, here uh 2 weeks.

New Construction Oak Island NC Strategy

Generally though in the last month almost everything coming on the market has been under contract within a few days for the uh new construction of Oak Island homes for sale. So that’s pretty intense but even more intense is if you actually go and look only in the under $400,000 price range, and that’s what originally brought me to this to the situation here, it’s even much more extreme. And that is everything is under contract new construction under 400,000, and all of it, uh, let’s see two days, 2 days, 3 days, a week, one day, zero days, 0 days, one day. And it’s all under contract almost immediately. You have to go back to listings in uh, May, when there was a gap between the listing date and the contract date. That was probably due to some temporary covid anxieties which have long disappeared in our region for Wilmington real estate. So that is the main point that I’m making. If you’re looking for a new home for sale in Oak Island, a new construction home, if it’s under 400,000, it’s sort of like a “good luck with that situation” because you need to be on it day zero. And we need to send our contract in by day one at the latest otherwise good chance you lost.

[tribus-listings year_built=”1″ property_type=”House” city=”Oak Island”]

The post Market Frenzy for NEW Homes in Oak Island appeared first on North Carolina Oceanfronts & Oak Island homes for sale.

Top 3 Variables to SQUEEZE 30% more Rental Income out of Beach Property North Carolina

HomesWebAdmin — Wed, 13 May 2020 13:05:22 +0000

3 Variables Get 30% More Rental Income for Beachfront Homes North Carolina

For years I’ve been helping second home buyers–also known as investors–purchase beach properties and beachfront homes in North Carolina at beaches such as Oak Island, Surf City, Carolina beach, Holden Beach, Etc. In analyzing countless properties and their rental income, assessing the effectiveness or lack thereof of the property managers, looking at variables such as erosion and rebuildable versus non rebuildable Lots, etcetera., and analyzing all these scenarios for years…I’ve determined there are three key variables that the top producing vacation rentals at the beach have in common. This video goes in-depth on them with concrete examples, and literally homes with these three variables gross 30% more than regular vacation rentals. What’s up with that?

North Carolina Oceanfront Homes (including foreclosures and short sales)
Carolina Beach Oceanfronts	Holden Beach Oceanfronts	Kure Beach Oceanfronts
Oak Island Oceanfronts	North Topsail Oceanfronts	Surf City Oceanfronts
Topsail Oceanfronts	Wrightsville Beach Oceanfronts	Ocean Isle Oceanfronts
Sunset Beach Oceanfronts	Emerald Isle Beach Oceanfronts

The post Top 3 Variables to SQUEEZE 30% more Rental Income out of Beach Property North Carolina appeared first on North Carolina Oceanfronts & Oak Island homes for sale.

Low Rental Income for Oceanfront is Good to Purchase in North Carolina?

HomesWebAdmin — Thu, 30 Apr 2020 21:48:11 +0000

Low Rental Income a Positive for Holden Beach Oceanfront?

Hey everyone. Just skip reading this–it’s a bit disjointed. Just watch the video for profound observation on why you are actually fortunate find the right home with low rental income because it means saving a LOT OF MONEY on the purchase price for Holden Beach oceanfronts or wherever….

We buy it as a 2nd property to have a lower passion price, and most individuals just prefer to use it or a week or two each year and lease it out the remainder of the year as a lot as achievable for what we call vacation rental income. I was constantly extra concerned regarding POTENTIAL rental income. You may dream of to consider buying a property with lower rental income or no rental income!

Sample cottages sold recently in Holden Beach NC

Now to the factor of this lesson: why should you be satisfied if you can get a hold of an excellent residence with low rental income? Actually why is that even better somehow … in a great deal of means? Well let me tell you. I’m going to show you 3 listings now to describe it to you. This is a residence in North Topsail Beach. A lot of times properties will certainly be listed at about 10%. You take.the rental income which’s 10% of the market worth of or sticker price. This property here, it’s listed for 779,000. It’s a house in North Topsail Beach. It has a 5th room on the ground level. Below’s the residence right here and it has an area swimming pool. The rental income for this is readily $100,000. Yes it’s provided for 779. So if it only had rental income of around $75,000 after that you could see a residence frequently detailed for 779, however because it has this reduced rental income or no rental income there it is 779. But actually if it makes a hundred grand a year, well 10% that would be 10% of a million bucks. This is actually perfectly underestimated for a financier since they can press out like 13% of rental income a year of this checklist rate which is remarkable. So if this was already turning out 105 Grand a year do you assume it would certainly be provided at 779,000? No, they would certainly value their very own residential property a lot more as well as would certainly save it for the best capitalist.

Here’s an additional example. We’re most likely to switch to a reduced end residential property, simply a 2-bedroom 2-bath condominium in Carolina Beach. I revealed this property it’s noted like $240,000. The reality is this thing because it likewise has an area swimming pool on the building and a good Ocean View on the side of the house can readily be earning $35,000. 10% of the market price is $24,000 so they can have had this probably detailed higher. From a financier outlook this is great. Once again it’s like a 13% gross vacation rental income compared to the cost. It’s great they have lower rental income below.
Somebody can easily obtain $35,000 out of this and realize they obtained an affordable residential property essentially.

And at this time I’m going to a direct comparison of a condominium with excellent rental income as well as one with small rental income as well as you can compare the rates! I was revealing this monster home– 7 room residence in Ocean Isle Beach with a swimming pool. Rental income was lower. I think it provided around $875000 and rental income was around $75,000, 7 bedrooms over 4000 square feet and also it provided for 875. And also the factor it is because the rental income is lower. This point can actually be making $130,000 nearly double what it is earning right now. If it is managed properly, that’s the genuine rental income for it. Since the rental income is so low and it’s sort of being done midway, I call it a midway task. The cost on this monster rental machine– it needs to be anyhow– is just $875,000 even though it could be making $120,000. So it’s great that it has low rental income. That means somebody is getting like a $200,000 discount off the worth of the condominium.

Currently take a look at this one. It’s half the size yet it’s provided higher at $899,000. It’s half the size and it’s more costly than that various other home. Why? Because this set is already grossing $110,000 so because it has a lot more established rental income– half the size– it’s extra pricey than this one with extra rooms as well as additional bathrooms and extra 1800 square feet. So the cost you pay for established rental income is a much greater market price. Therefore if you can discover a house that you like you may very well claim it’s far better to discover one with small rental income if you’re an investor as well as cut 15% off the rate. And also you’ll still make the very same quantity of cash most likely within the initial year for sure by year 2. To ensure that’s something you think of. If a house is not established as a rental yet or has small rental income do NOT be worried to shop for it, the main factor is. These things can be rented out like hotcakes presuming there is not a present health event happening on. Anyhow these things will lease; the demand is there. It’s the American means; as well as it’s all right if it has lower rental income. As a matter of fact that can be a blessing to you and save you some cash!

The post Low Rental Income for Oceanfront is Good to Purchase in North Carolina? appeared first on North Carolina Oceanfronts & Oak Island homes for sale.

North Carolina Oceanfronts & Oak Island homes for sale

Oak Island Real Estate Shift — higher days on market but prices hold steady!

Oak Island Real Estate Shift in the Market

Oak Island Inventory Grows

Oak Island Prices Hold Steady

Start of list of properties

8% — Carolina Beach NC Prices Come DOWN for Oceanfronts condos

Ocean front prices crack for Carolina Beach condos

Carolina Beach Ocean front prices drop 8%

Best/Worst Months to Buy and Sell a Home

Should I Rent or Buy a Home?

Factors To Consider When Buying/Renting a Home

1) What are the total costs?

2) What is important to you?

3) What is your preferred lifestyle?

4) What are the opportunity costs?

Rent vs Buying

When is Renting a Home Better?

When is Owning a Home Better?

In Conclusion

Shell Island Resort condos bump up to $335,000

Shell Island Resort condos bump up to $335,000

How the numbers work for Shell Island Resort condos

Oak Island Real Estate Bumps 10% Past Month 2020

Oak Island Homes for Sale Bump 10% in November 2020

Oak Island NC homes multiple offers and low inventory

Things to know about a glass vessel sink

The advantages of choosing a glass bathroom sink

Points to consider before buying a glass sink

Market Frenzy for NEW Homes in Oak Island

0 DOM — Practically necessary for NEW construction Oak Island

New Construction Oak Island NC Strategy

Top 3 Variables to SQUEEZE 30% more Rental Income out of Beach Property North Carolina

3 Variables Get 30% More Rental Income for Beachfront Homes North Carolina

North Carolina Oceanfront Homes (including foreclosures and short sales)

Low Rental Income for Oceanfront is Good to Purchase in North Carolina?

Low Rental Income a Positive for Holden Beach Oceanfront?