Top 5 Reasons to Buy In the Wilmington, NC Area NOW
Here’s a list of Compass Pointe‘s top five reason’s to move to the Wilmington, NC area!
1. Home Values Are Appreciating
- Recent data from CoreLogic InformationSolutions showed that North Carolina home values appreciated 1.0 percent in February and 8.0 percent from February 2013.
- According to Fine Coastal Living, demand is on the increase, so the time to buy is now before prices increase.
- And according to Zillow, home values in Wilmington have increased 5.1% over the past year and are predicted to rise 2.7% over the next year.
2. Mortgage Interest Rates Are Historically Low
- Mortgage interest rates hit their lowest levels for 2014 in May and are predicted to continue to fall across the nation, suggests CNN.
- For buyers who qualify, mortgage rates are close to 40-year lows according to the National Association of Realtors (NAR). The average 30-year fixed rate mortgage rate, currently at 4.14 percent, as of June 27, 2014. These historically low-interest rates allow a substantially larger population of Americans to own their own homes.
3. Buying in Wilmington Beats Renting
- As the NAR reminds us, real estate remains the best investment available.
- Over the past 30 years the median price of existing homes has increased an average of more than 6 percent every year, and home values nearly double every 10 years, a NAR campaign says.
- A Federal Reserve Study shows the average homeowner’s net worth is 46 times the net worth of the average renter.
- According to Trulia, the median home price Wilmington from March to June was $188,000, which is an increase of 3.9% from the prior quarter and an increase of 1.6% from 2013.
4. Wilmington Is Gorgeous & Full Of History
- Wilmington is a port city located on the Cape Fear River with a historic downtown area, but it is also mere minutes away from beautiful sandy beaches. Winters are mild ranging from lows in the 30s to highs in the 50s. Summers are southern hot and range from the 80s to the 90s. The nearby beach and Intracoastal Waterway are perfect for all types of activities including, swimming, boating, fishing, and more.
- Where To Retire Magazine named Wilmington one of the 100 best retirement towns in the country.
5. There’s So Much Going On
- Wilmington, AKA Hollywood East, is home to EUE/Screen Gems Studios. Popular televisions series like Dawson’s Creek, One Tree Hill and Under The Dome have used the stages and multiple locations throughout the city, as well as popular movies like Iron Man and We’re The Millers.
- Since 1995, Wilmington hosts an annual, nationally recognized, Cucalorus Independent Film Festival.
- One of the largest DIY festivals, the Wilmington Exchange Festival, occurs over a period of 5 days around Memorial Day each year.
- The North Carolina Jazz Festival is a three-day traditional jazz festival which features world-renowned jazz musicians.
- The Wilmington Sharks are a Coastal Plain League (CPL) baseball team.
- The Wilmington Sea Dawgs are a Premier Basketball League (PBL) team.
- The Wilmington Hammerheads are a professional soccer team in the United Soccer Leagues Second Division.
- The University of North Carolina Wilmington (UNCW) sponsors 19 intercollegiate sports and has held Division 1 membership in the NCAA. UNCW also competes in the Colonial Athletic Association.
- The Cape Fear Rugby Football Club is an amateur rugby club playing in USA Rugby South Division II. They host the annual Cape Fear Sevens Tournament held during 4th of July weekend; hosting teams from all over the world.