Kure Beach Homes -- Protect yourself from Market
So this was his chance to do it and he pulled it off. I think then this goes – in five years, this
home for 398 may actually be selling for, you know, 550. And I told him, “You know, Bob, this
may be the last second row ocean view home to sell in Kure Beach under 400,000 ever again,”
you know. He was really proactive with the situation, so hats off to him. But with that, let me –
let me show you some market data here. This is North Topsail Beach. I’ve done an article on
this a few months ago, maybe a year ago. Since 2013, ‘14, property was going for, you know,
550-ish.
And now, a few years later, the same property, 2,300 to 2,600 square feet oceanfront is
now going for 650-ish, okay? And, again, this is in the middle of a horrible national economy.
Kure Beach Home Values
So when the economy booms again, some of these properties, you know, that just sold for, like,
you know, 600, well, they actually used to sell for 900, okay? So history is a good indicator of
what’s about to happen. What goes down must come back up. So this process – prices are going
back to 900. Now is your chance to buy home before you get priced out of the market. Many
people want to move to Wilmington and retire here. Our real estate taxes are 10% lower than
what they are – excuse me, about 10% of what they are in Northeastern United States.
So instead of 10,000 a year in real estate taxes for Wilmington, NC homes for sale, you only pay
1,000 here, okay? So, here what’s going on in Wilmington, we’ve gone from a median of
around 285 all the way up to 370, and that’s in two years. So it is really important – if you’re
thinking about making a move here, do what Bob did, if you can. Take advantage of Bob’s
wisdom and foresight, buy your home now, lock it in, and you’ll have somewhere to move to.
Otherwise later, many folks won’t be able to afford the location they had in mind and they’re
going to have to go further inland. There you go. I’m Jay Seville with Wilmington-real-estate.com and
Wilmington-real- estate.com. And I look forward to sharing more insights on.
Comments(1)