What you need to know-- Wrightsville Beach Condos
My video covers a couple of major tips for buying Wrightsville Beach condos or considering Kure Beach real estate. A lot of advice on the latters is at the local blog Kure-Beach-Homes.com.
...What do these look like? let's take a look at the list and here's a good example - Ocean Dunes is a stick built community and a it does have like a across the street, a nice rec area with uh a swimming pool, indoor swimming pool, and some other facilities, exercise room. It has some challenges, over the years it's not been managed well at all, in fact the previous person associated with the community has said perhaps, got arrested for legal battles, for not running the community well. It’s as a result the monthly fee huge, here it is, 830 dollars a month and why is it so big? Well they are trying to catch up on their fiscal health. Last time I spoke to the president and they only had like 30,000 dollars of reserves on hand, so it's an awesome community… Would I ever want my mom to buy a unit there? No, I wouldn't and I would not advise her.
Over here the list of the, well okay, this is a little disturbing because I got interrupted let me make this point, these larger buildings like Atlantic towers, Pelican Watch and Shell Island Resort, they tend to be run very well by the management companies. So they have money on hand, they have a plan for improvements, and they're pretty good at avoiding special assessments, they don't have the emergencies so to speak that at a lot of these smaller buildings have, like you see here these smaller buildings that are not mid-rise or high-rise, they're often not run as professionally in terms of financial reserves and improvements to the property being done, and an organized systematic calendar for those. For example Pelican Watch, this is their assets on hand when I sold one a few months ago. Various CD’s encashed in money, markets. Bottom line one point two million dollars of cash on hand.
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