Advantages of Buying Real Estate Now in Wilmington, NC
- 1. More Choices. In New Hanover County, we currently have over 3000 homes on the market. Buyers have more choices today than they have in several years. You have your choice between condos, townhomes, single family homes, golf course properties, water oriented properties, gated communities. You can also choose between large lots and small lots and whether you would like lawn maintenance included or not. The choice is yours today more than ever to find a home that fits your needs and fulfills your dreams. But do remember, that well priced homes in desirable locations can still sell fast, even in a buyer's market.
- 2. Interest Rates are Low. With interest rates under 6%, what better time to buy real estate! You can even afford more home now than you might have a year or so ago. It usually is a good idea to purchase as much home as you can afford in this type market. Always consult with a reputable lender to become knowledgeable about the variety of financing options available and what might be best for you. In addition, ask for a pre-qualification letter. A good buyer's agent will use this in the negotiating process. It will also ensure that you are not looking at homes that you cannot afford.
- 3. Negotiate. We all remember the days of 2005 when you had to decide how much over asking price to offer the seller. Today that is a different story. A good buyer's agent can negotiate the best price and terms to suit your budget.
- 4. Incentives. In a buyer's market as we have today, sellers and builders are offering a host of incentives for buyers. For instance, closing costs or buydown of the interest rate, even flat screen TV's and cruises are among popular incentives today.
- 5. Competition. In today's market you do not have the worries that we did a couple of years ago, of other buyers bidding the prices up from the original price.
- 6. You are not rushed into a quick decision. One of the highlights of a buyer's market is that you can take your time finding your perfect home and do not have to feel pressured to settle for anything less than the home of your dreams.
- 7. Inspections. You can take the time to have a good home inspection and appraisal and negotiate with the seller any necessary repairs.
- 8. Lower Prices. Buyers are in a great position today with prices so low and interest rates favorable. Buyers can enjoy stronger buying power than they have in years before. Today's market is truly positioned for the home-buyer.
- 9. Appreciation. Local house values are expected to rise as our local economists have a favorable forecast for the area. Always remember, that real estate is a strong, sound investment for your future.
- 10. Great time to sell and move up. If you are a seller wanting to move up to larger home for your growing family, now could be the perfect time for you. You'll be way ahead of the game, because the price reduction on the purchase is greater than the loss on the sale of your present home.
