The Week in Review Wilmington NC April 10, 2011

By
Real Estate Agent with Coldwell Banker Seacoast Realty

The Week in Review

....your Wilmington Connection

April 10, 2011

Azalea Festival Weekend, and a stunning weekend at that!. It was gorgeous out.  Its always wonderful to see the community out and enjoying the fun, the streets were packed with vendors.

 Well the market continues to heat up.  This week Sea Coast had 20+ million in contracts homes are selling.  Thinking of buying or selling a home, lets sit down and have a coffee and disucss the best route for you.

 Wilmington NC Real Estate

Currently on the market there are 2010 single family homes, 175 homes under contract. In the last week there have been 24 homes sold.

Wilmington Jobless rate slowly declines

The jobless rate was 10.3 percent in February, the N.C. Employment Security Commission said Wednesday. That was down from 10.6 percent in January but, more important, it was down from 11.6 percent in February 2010.

The figures are not adjusted for seasonal variations such as a typical rise in unemployment during the winter months.

Bank Owned sales spiked in 2010

Sales of bank-owned homes and land in Brunswick County spiked sharply in 2010 but foreclosure sales decreased, according to data presented by the Brunswick County Association of Realtors at its annual legislative gathering Monday.

That indicates the county may be nearing the end of its long slog through the glut of distressed property on the market as a casualty of the real estate bust, association President Pete Frandano said.

Bank-owned sales are typically the last stage in dealing with such properties, after short sales and foreclosures. The number of bank-owned sales was up 146 percent in 2010.

 Urban areas see hike in young Buyers

Living downtown is becoming increasingly appealing to college-educated 20- and 30-somethings.

In two-thirds of the country's 51 largest cities, the college-educated population in the past decade has grown twice as fast within 3 miles of urban centers when compared to the rest of the metro area, the USA Today reports. That is a jump of 26 percent, on average, compared with 13 percent in other parts.

Young adults with higher education, in particular, seem to be showing a preference for urban living. Young adults with a four-year degree are about 94 percent more likely to live near urban neighborhoods than less-educated young professionals. (In 2000, that number was about 61 percent.)

 

until next week in The Week in Review

        Tina

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