Viewings Increase for Wrightsville Beach Homes

Wrightsville Beach Luxury

During economic times buying a beach home was put on the back burner for awhile. They were not seen as a must have.  In the last three months there has been an increase in viewings; and more importantly solds in the Wrightsville Beach area.  These Luxury homes are at there lowest in nine years.  Buyers in the luxury market have realized now is the time to get off of the fence and purchase these magnificent homes. 

In the last 3 months there have been 120 homes sold in the Wrightsville Beach area.  With the most expensive one being sold at $3.2 million. Beach property continues to be a great investment in the Wilmington and Wrightsville Beach area!

Are Landfall Courntry Club in Wilmington Homes Selling?

While Landfall offers one of the only private, member-owned equity clubs on the North Carolina coast, Wilmington offers a combination of urban and rural luxuries not easily found anywhere else in the Southeast.
The incomparable Country Club of Landfall maintains 2 golf courses with 45 championship holes designed by Golf Legends Pete Dye and Jack Nicklaus.

So how does Landfall real estate stack up 2012?  Landfall Real Estate Stays Strong–Latest Numbers Buyers and sellers are on the same page….Homes are selling for 95% of the list price.  Currently there are 118 Landfall homes for sale ranging from $350,000 to $3.5 Million.  In the last year there have been 77 homes sold with the lowes being $273,000 and the highest being $2.8 million. Last year this time we only had 59 homes sold about a 30% increase!

Luxury Homes in Wilmington Selling.

Luxury Homes are they moving in Wilmington?
In the last 6 months we have seen 21 homes sell that were priced above 1 million. 13 of those were in Wrightsville Beach. Some great deals are being had with some of the higher priced homes seeing a 25% decrease in pricing. Many who have been sitting on the fence are finally getting off.

My Listing on Fig 8 Sold Aug 30, 2012

Luxury Real Estate Market "Capitulation"

Why are they calling this the"Year of Capitulation" in the Luxury Home market?
Even the rich aren’t immune to the pressures of the housing market.
Prices for homes priced at $1 million or more have fallen a 20 percent this year, according to RealtyTrac. The average sale price for top-tier real estate has fallen to just over $2 million, from $2.5 million in 2011.
Those prices cuts stand in stark contrast to the broader housing market, which is seeing early signs of price stability and even price increases for the first time in years.
All that price-chopping at the top, however, has sparked a wave of sales as buyers scoop up deals and sellers accept the new reality of lower prices.
The number of transactions for homes priced at $1 million or more has jumped 18 percent this year, one of the strongest increases since 2008, according to Realtytrac.
Brokers for luxury real estate are already calling 2012 the “The Year of Capitulation” for wealthy sellers.
There are several factors behind the price drops. The high end of the market didn’t fall as much or as early as the broader market, since there weren’t as many distressed sellers that were forced to sell. Those wealthier sellers have hung on to their properties, waiting for prices to approach 2008 levels.
Now that they see that the prices of 2008 aren’t likely to return anytime soon, many are deciding to drop their prices just to get a deal. The increase in sales has itself spurred sales, as wealthy sellers see a larger number homes in their neighborhoods trading at lower prices.

Ocean Front in Wrightsville Beach Do You Own the Ocean?

For much of North Carolina’s history, the rights of oceanfront property owners have been loosely defined. This was due in part to the slow pace of development of much of the state’s
oceanfront shoreline. Consequently, there were fewer opportunities for conflict between oceanfront property owners, the state and the general public. All that changed in the past 50
years, the barrier islands and ocean beaches have seen a marked increase in development. This has occurred in conjunction with severe erosion caused by hurricanes, nor’easters, sea level rise and man-made activities, such as dredging and building jetties. The waters of the Atlantic now are lapping at the foundations of million-dollar oceanfront homes, condominiums, hotels and businesses.

 As a general common law rule, when natural cycles and processes result in additions (accretions) to the beach, the increase belongs to the oceanfront owner to whose shoreline
the accretions adhere; if the cycles result in erosion of the shoreline, then the oceanfront owner sustains the loss. In other words, the oceanfront property owner’s boundary is never fixed, but is always a shifting, ambulatory boundary line — moving as the natural process changes the shoreline.

So when buying that Million Dollar View in Wrightsville Beach or anywhere on the coast remember your lot could increase or decrease.

Trying to sell a Wilmington NC Luxury Home in this market? What are the Key Elements.

VALUE--Due to current economic times, the inventory of Wilmington NC Luxury Homes is huge, and the buyer pool is certainly smaller and much more selective. Is your home considered a value in comparison to your competitors
EXPOSURE--Not just the MLS, cutting edge exposure using social media websites and viral marketing.

MOTIVATION--Buyers are sitting on the side-lines, watching prices fall and waiting for the perfect moment to swoop in to get a "deal."

As we have seen in the last 4 months homes are starting to move. Remember only the best priced, best in condition wins!

What Makes Luxury Wilmington NC Homes Sell?

Lifestyle Photography

Lifestyle Photography is about adding life, perspective and emotion to photos and telling a story about your home and its personality. It creates a mood, sets a scene and opens a window for buyers to see into your world, letting them experience what you’re the qualities of your home and enticing them to find out more.

The outcome, to translate and advertise their home through engaging Lifestyle Photography. Here at Coldwell Banker Previews we aim high! There are many luxury homes in Wilmington NC. We need to make sure they stand out from the crowd!