Most Expensive Home Back on Market Amid Strong Luxury Sales

WILMINGTON, NC – The most expensive home ever listed on the MLS serving the tri-county area is back on the market for $11,900,000. Located at 710 Shoals Watch Way on Bald Head Island, the home sits on 2.56 acres of oceanfront property. Extensive and finely detailed woodwork throughout the 5,500 square foot house, including unique rafters designed to imitate whale ribs, contribute to this home’s impressive feel.  The “little extras” you’ll find in the area’s most expensive residence include multiple built-in window seats; many ship-lap covered walls; a custom lighting system with chandeliers that can be lower or raised; a commode with a heated seat; and an elevator. The current owner purchased the truly remarkable home in September 2012 for $9.7 million.  The asking price was $15 … [Read more...]

Local Luxury Home Sales Surge

WILMINGTON, NC – Sales of luxury homes in Brunswick and New Hanover counties more than tripled in March.  The total sales volume of properties priced in excess of $1 million jumped from $7.9 million in March 2016 to $23.9 million this March. These numbers represent the strongest March showing in the high-end market since the peak of the real estate market.  The last time this segment of homes produced better numbers was in 2008 in Brunswick County, when luxury sales hit $7.7 million; and 2007 in New Hanover County with $18 million in sales. “The last couple of months suggest growing confidence in the local luxury market,” says Kathleen Baylies, Broker In Charge at Just For Buyers Realty.  “It’s important to understand this is a very exclusive segment of the market where the sale of a … [Read more...]

2017 Luxury Home Sales Continue to Strengthen

PRESS RELEASE Contact: Kathleen Baylies 910-470-3190 March 7, 2017 For Immediate Release WILMINGTON, NC – Sales of luxury homes in New Hanover, Brunswick and Pender counties continued to make a strong showing during the month of February. Nine homes with a total value of $14.79 million sold.  That compares to six valued at $10.92 million in February 2016. The number of available high-end homes grew, too.  Thirty-two new listings came on the market this February, compared to 15 during the same month in 2016. Of particular note among the new listings was the addition of an ultra-luxury property priced more than $5 million.  The home at 7527 Masonboro Sound Road and two adjacent lots came on the market for $5.75 million.  This is one of only five single family homes … [Read more...]

2017 Luxury Home Sales Start on a High

WILMINGTON, NC –  If January pending sales numbers are an indicator, 2017 could be a solid year for luxury home sales in New Hanover, Brunswick and Pender counties. A total of fifteen homes with asking prices in excess of $1 million went under contract in the tri-county area this past month.  That compares to three in January 2016 and ties 2005 for the most luxury homes ever put under contract during the month of January. The most expensive property to go under contract is 334 Cabbage Inlet Lane, Wilmington, priced at $3,295,000.  With five bedrooms and 5 baths, this home is more than 7,000 square feet and sits on two-plus acres along the Intracoastal Waterway.  Among the many note-worthy features are four boat slips with a floating dock and boat lift; a free-formed salt water pool … [Read more...]

Figure Eight Island Home Pushes December Luxury Sales into Positive Territory

PRESS RELEASE Contact: Kathleen Baylies January 9, 2017 910-470-3190 For Immediate Release Wilmington, NC - Luxury home sales were on track to finish December on par with the same month in 2015, but the sale of 1 Banks Road on Figure Eight Island changed that.  Its $3,537,500 selling price caused the monthly dollar volume of high end homes sold in New Hanover County to more than double from $3.11 million to $6.64 million during the final month of the year. The custom built home sits on a half acre, sound front lot with sweeping views of the Intracoastal Water Way.  More than 6,000 square feet in size, it has five bedrooms, seven spacious baths, an elevator, extensive decking, ocean views to the east and two outdoor showers. Only one other home sold for a higher … [Read more...]

Area’s 2nd Most Expensive Home Goes on Market

Wilmington, NC – Priced at $6.2 million, 14 E. Oxford Street in Wrightsville Beach came on the market in November.  It is the second most expensive home listed for sale in the North Carolina Regional Multiple Listing System. The newly listed property is more than 8,000 square feet and sits on a double lot with ocean views.  It’s many features include a four-bay garage, steel and concrete construction, a wine and humidor room, a large butler’s pantry, extensive built-ins, a professional chef’s kitchen, an elevator and an in-home spa. The only property listed at a higher price is 7422 Sea Lilly Lane in Inlet Point Harbor on the south side of Wilmington.  It was listed in July for $8.2 million and has not yet sold. A home at 7509 Masonboro Sound Road in Wilmington, was the second … [Read more...]

October Luxury Home Sales Up Slightly

WILMINGTON, NC –   Seven homes with sales prices in excess of $1 million sold in New Hanover, Brunswick and Pender Counties during the month of October.  The dollar volume totaled $9.07 million. The numbers were up slightly from September, when six luxury homes totaling $8.5 million sold. Despite steady numbers, Kathleen Baylies, Just For Buyers Realty’s Broker-in-Charge expresses a little disappointment.  “Last year (2015), October was a surprisingly strong month.  We were hopeful we might see that kind of bump again this October.  Even so, this past month’s numbers are in line with general expectations.” The most expensive home to sell in October was 2324 Ocean Point Drive in Landfall.  Listed for $2,195,000, it closed on October 5th for $2,000,000.  The 4,266 sq. ft. antebellum … [Read more...]

Luxury Home Market Dips

PRESS RELEASE                                                                                       Contact: Kathleen Baylies October 11, 2016                                                                                                           910-470-3190 For Immediate Release Luxury Home Market Dips Listed for $4.29 Million, 520 Beach Road North on Figure Eight Island is the most expensive home listed in September. Photo © Landmark Sotheby’s International Realty, Surf City, NC.  Used with permission. WILMINGTON, NC – After a very active August, the local luxury market slowed considerably in September.  Six homes with sales prices in excess of $1 million sold in New Hanover, Brunswick and Pender Counties.  The dollar volume totaled $8.5 million. In August, there were 15 … [Read more...]

Local Tax Rates

Brunswick, New Hanover and Pender County Tax Rates* (*All rates per $100 valuation) 2015 Brunswick County Tax Rates Brunswick County .4850 Belville .0683 Boiling Spring Lakes .210 Bolivia .050 Calabash .0875 Carolina Shores .1016 Caswell Beach .220 Holden Beach .15 Leland .1515 Long Beach — Navassa .200 Northwest .240 Oak Island .275 Ocean Isle Beach .1875 St. James Plantation .050 Sandy Creek .300 Shallotte .350 SE Brunswick Sanitary Dist .000 Smithville Township .040 Southport .2456 Sunset Beach .16 Varnamtown .050 Village of Bald Head Island .6663 Bald Head Island Zone A .7471 Bald Head Island Zone B .7169 Yaupon Beach — (Source: Brunswick County Tax Department)  2015 … [Read more...]

Glossary of Real Estate Terms

“A” Loan or “A” Paper: Considered the best credit rating. FICO scores are generally 660 and up, with no late mortgage payments and less that one 30 day late revolving or installment loan payment. No bankruptcy within the past 2 to 10 years. Good or excellent credit during the last 2 to 5 years. Abstract of Title: A complete historical summary of the public records relating to the ownership of a particular piece of land. It represents a short legal history of an individual piece of property, and traces the ownership of that property from the time of the first recorded transfer to the present. Acceleration Clause: A provision written into your mortgage that gives the lender the ability to demand full payment if even one monthly payment is missed. Additional Principal Payment: … [Read more...]