Rumor has it that the real estate market may finally be hitting bottom. What with low interest rates, developers who need to shed excess inventory and the wide variety of homes from which to choose, there couldn’t be a better time to move south—if you can afford it, that is. The good news? From Florida to Virginia, from the mountains to the coast, there are great deals to be had in fantastic destinations. Finally, the community of your dreams may be just within your grasp—at a price that will have you smiling all the way to your new home.

Come along with us as we take a tour of the most affordable, yet luxurious destinations in the South… starting with historic Wilmington, NC. We promise you’ll be glad you did.

Carolina On My Mind
In the past decade, the Wilmington, NC area has truly come into its own. With its thriving cultural scene, historic downtown and proximity to pristine area beaches, the lifestyle that Wilmington and the surrounding towns offer is hard to pass up. Beautiful Brunswick County, just across the river from downtown Wilmington and en route to the entertainment hub of Myrtle Beach, SC, epitomizes a gorgeous, yet completely affordable destination. Just a short drive away from an impressive array of recreational and cultural opportunities, yet nestled in a beautiful, unspoiled corner of the Tarheel State, these communities have what it takes to suit your lifestyle… and your budget.

Home to the 2009 Nation’s Next Top Model Home competition, Compass Pointe offers coastal Carolina living at its finest. At this stellar community just 10 minutes from Wilmington, close to both Wrightsville and Carolina Beaches, you’ll discover a selection of amenities so impressive you’ll feel like you’re on vacation every time you walk out your front door—including a river club, dog park, amphitheater, golf course, lake beach, bike trails, splash park, tennis courts, gaming rooms and much, much more. Beyond the beautiful setting, convenient location and thoughtful planning, though, Compass Pointe stands out for a very special reason: It was designed to be an affordable, yet luxurious destination. In fact, the developers are so committed to this ethos that they’ve incorporated it into the community’s motto: “Affordable. Resort-style. Compass Pointe.” Here, homesites are available starting in the low $70s, townhomes can be purchased from the $160s and, if building a custom home is what you’re after, prices start in the $200s. Developer Logan Homes has a series of other incredible communities from which to choose.

The established and thriving St. James Plantation is located in the seaside village of Southport, NC. The community’s beach club on Oak Island, NC is just a short car ride away from the main gate. St. James recently made AOL’s list of Top Searched Retirement Communities, the only community in the Carolinas to score in the top ten.

Brunswick Plantation & Golf Resort offers buyers the option of delayed construction—buying a lot now, and building when the spirit moves them. “Our average customer is 45 to 60, has raised their kids and worked all their life, and now they want to retire to a nice climate, close to the beach, but not with the high insurance they’d have if they were living at the beach,” says Al Wilson of Brunswick Plantation. “In Brunswick County, on a $300,000 home, real estate taxes are just $950 per year. We offer a two-step process—you buy the homesite first, come down, visit and get involved in the community. Three to five years from now, you can decide whether this is the place you want to retire.”

Customer satisfaction is key to Wilson, as is the security of knowing that what you see is what you get. “When you come down and buy a piece of property… you don’t have to select the floor plan right then, but when you do, we’ll build the house eight years from now at the same price, if building materials stay the same and inflation doesn’t happen,” Wilson says. The company uses Marshall and Swift’s inflation multiplier so that customers can determine what they’ll actually be paying for their house several years down the road.

“You can really do some retirement planning and know where you’re at,” says Wilson. “I can’t tell you the number of people who come here confused at the real cost of their home. They’ve bought a lot, but they can’t afford to build because they didn’t have accurate numbers.” The delayed construction option eliminates the need for buyers to sell their existing property before buying land in Brunswick Plantation. “If I was in New York and five years away from retirement, I’d come down now, when prices are as low as they’re ever going to be, and I would buy a homesite,” Wilson says.

Brunswick Forest offers homes starting in the mid-$200s and homesites starting from the $100s, says marketing director Brandy Marshall. “People really love the Ashwood Luxury Townhome,” she says. “Everything’s included, with granite, hardwoods and a very spacious master suite. All the landscaping and lawn maintenance is included. People really look at the package and see its value.”

Not a beach person? No problem! As incredible as North Carolina’s coast is, the mountains also have a lot to offer. In 2007, Frommer’s named Asheville one of the world’s top must-see travel destinations, based on its beauty, phenomenal arts scene, outdoor recreation and historic significance… to name a few. Just 15 minutes away, you’ll find The Settings of Black Mountain, where properties range from cottage homesites to grand estates. Incredibly, homesites in this gated Blue Ridge community start as low as $95,000 for a quarter-acre. Mountain living never seemed so good!

If an urban lifestyle in a seaside community appeals to you, then look no further than Myrtle Beach, SC’s Withers Preserve. Benefit from South Carolina’s favorable taxes—the fourth lowest in the country—and experience all the excitement that Myrtle Beach has to offer. Homes in the Montrose neighborhood at Withers Preserve start at just $200,000, and currently the community is offering a one-year price guarantee.

Hampton Lake, recipient of a 2008 BALA Award for Best Community in America, is all about environmental sensitivity, a family-friendly setting and incomparable lake living… all at a price you can afford, in the heart of South Carolina’s Low Country. Just a short distance from Hilton Head, Hampton Lake’s newest offerings include ecologically sound, LifeSmart single family homes starting at $315,000. From vacation homes, villas and cottages to lakefront custom homes, Hampton Lake has something for everyone.

What do Aiken, SC and Asheville, NC have in common? Well, to begin with, both cities made bestboomertowns.com’s short list of 2009 Best Places to Thrive. With a below-average cost-of-living, excellent health care, a stroll-able downtown and proximity to more than 30 stables and 13 golf courses, Aiken is indeed a notable destination. Plus, if you’re over 60, The University of South Carolina-Aiken’s Academy for Lifelong Learning will cover your tuition, making this a fantastic place to learn as well as play. It’s no surprise that a number of top-notch communities have selected Aiken as their location of choice, including Woodside Plantation, where annual membership in the property owners’ association is just $577; Three Runs Plantation, an unparalleled equestrian community that doesn’t place a time limit on when construction begins and offers a limited-time-only price reduction of $3,500 per acre; and The Ridge at Chukker Creek, which ABC News labeled “The Greenest Subdivision in America.” The Ridge’s focus on green living means reduced utility and maintenance costs on homes, as well as community facilities; in fact, the developers are currently planning zero energy homes, which generate—you guessed it—no utility bills per month at all. In keeping with the spirit of the community, homeowners’ association fees here are affordably priced. With countless community activities and amenities such as golf, equestrian, hiking trails, tennis, etc., Cedar Creek in Aiken offers affordable living with brick homes beginning at $300,000.

Knoxville: Fun, Friendly and Full of Surprises
The third-largest city in Tennessee, Knoxville has it all: incredible shopping, fine dining, deep-rooted history, phenomenal nightlife—and, yes, a lifestyle you can afford. AOL Travel named Knoxville to its list of the country’s most-affordable One-Night Getaways for $150 or less, based in part on the sheer number of free (or nearly) attractions that the city had to offer. And whether you’ve decided to stay for a night or a lifetime, this friendly city will welcome you with open arms. Still working? You’ll be pleased to learn that Tennessee doesn’t charge state income tax on wages or salaries, and property taxes here are reasonable as well. Intrigued? Consider relocating to one of the eight Rarity Communities, just a short distance from Knoxville. Rarity Communities offers a wide array of homes with a price range to fit anyone’s needs. Located a little farther southwest of Knoxville, you’ll find Long Branch Lakes. If horses are your passion, you’ll find your heart’s desire at a price to match, with estate-sized lots from one to 40+ acres starting at $50,000. Less than an hour’s drive west of Knoxville is Fairfield Glade with 11 lakes for boating. All of the community’s amenities are in place, including 90 holes of golf, and properties start at some of the lowest prices available.

Life’s a Peach… In Georgia
Close to Savannah, a city cloaked in Southern charm, The Landings on Skidaway Island has a reputation for excellence. In fact, the Urban Land Institute recognized The Landings as one of the country’s best residential communities. A private country club community with six championship golf courses and over 40 miles of walking and biking trails, The Landings has several options available for under $300,000. “Our resale homes start in the $250s, for single-family homes,” says Mary Catherine Mousourakis, Director of Marketing. “Patio homes start at $289,000, and townhomes or condos start at $239,000.” Currently, says Mousourakis, “It’s our $400,000 to $700,000 range that’s moving the quickest.”

Making the Most of the Sunshine State
Think Weeki Wachee, FL, is fun to say? It’s even more fun to call home, as residents of Glen Lakes Golf and Country Club will attest. Located on Florida’s Nature Coast, surrounded by lakes, rivers and state-owned nature preserves, Weeki Wachee is a little piece of paradise—and, thanks to Glen Lakes, it makes our list of affordable destinations. Maintenance-free homes at Glen Lakes start in the $240s, excluding homesite, and include access to a gorgeous, 35,000-sq.-ft. clubhouse. Custom estate homes start in the $300s, homesite excluded. Let the full-time social director arrange your schedule, tee off on the championship 18-hole golf course, hit a few balls on the tennis court… or hop in the car for a leisurely excursion to the nearby cities of Orlando, Tampa and St. Petersburg. What’s not to like?