Foreclosures in Wilmington, NC

By
Real Estate Agent with Exit Homeplace Realty (Wilmington, NC)

As summer draws to an end and so ends the tourist season here at the coast, I wonder how well all of the homes that have been foreclosed on and are now owned by the banks will be marketed.  So many people want to have coastal property and buying a bank owned property is one of the best ways to get into a home with possibly some equity.  Hopefully there will be more investors searching online trying to find those deals.

Comments (2)

Jim Fischetti
The Fischetti Group/Keller Williams - Wake Forest, NC

Paul,

 

Good luck, how is the market there? How many foreclosures are on the market? Do you guys have a seasonal market? When is the best time to buy?

 

Thanks and happy selling.

Sep 02, 2008 02:16 AM
Paul Hockaday
Exit Homeplace Realty (Wilmington, NC) - Wilmington, NC

Hey Jim,

Wilmington has been ranked in the top 20 for retaining equity in the nation.  We currently have about 100 homes that are REOs that I know about.  Our season runs from March-September.  The best time to buy a foreclosure is at the end of the quarter when the banks need to purge their books.

I hope I've been helpful.

How is your market?

Paul

Sep 02, 2008 02:35 AM