Change of Office

Just in! Chris has just gone out on his own, now located out of the Carolina Beach office of Intracoastal Realty. Still servicing all of New Hanover County, Southport & Oak Island. Whether you are making first home purchase, looking to buy invesment property, bank owned/foreclosures or need help short selling you current home, I am here for all your real estate needs. Feel free to call, text or email me!

Hotel/Inn For Sale - Carolina Beach

$599,999

Circa 1951 charm in this quaint Inn located in Carolina Beach along great shopping and restaurants. Only one block to the ocean!!! Many renovations throughout while keeping majority of original woodwork. 13 rooms total including a one bedroom apartment on ground level. Mixed use zoning allows for many opportunities as bed & breakfast, retail or multifamily operation. Call, text or email me for more details.....910-619-6174

Trulia.com & Zillow.com

Hey - check out these real estate search engines. Great places to find useful stats on home sales and home values. Consumers can search for real estate agents, ask questions or advice from the professionals and find homes in their area.

www.trulia.com

www.zillow.com

June MLS Stats are in!

OK. So I'm sure everyone sees the bad rap the real estate market has been getting in the press lately. Well our local market has actually seen an increase in number of units sold, to date, since June of 2009. Also, in certian micro-markets around town we are seeing prices stabalize. That is the good news!

The bad news?.......There is a looming "shadow inventory" of foreclosed homes across the nation that may flood the market with new "distressed" listings for sale. This can affect sales prices in areas where there are multiple bank owned properties.

But for the buyers, there are some unbelievable deals. I had an investor tell me the other day, he bought a 2 bedroom house for $15,000...........that's a steal. And he can probably rent it for $650 a month! On the other end of the spectrum, I have a waterfront home with 2 boatslips listed for sale, bank owned, that just went under contract for $200,000 less than asking price........Wow!

Check out my other bank owned properties on our team website. www.leecrouch.com or simply text or call me at 910-619-6174 and I can tell you all about the great deals out there!

Dow breaks 10,000 today!

What a good sign for the housing market and everyones stock portfolios that the Dow broke the 10,000 point mark today. Their must be some consumer confidence slightly building to back some of the retail numbers out there. There are still some great values to be had in the general & emerging markets.

Just like the local real estate market here in Wilmington & area beaches. Several condos at Carolina Beach, second row & one block to the beach, have sold or are pending around $400,000. Similar units of size, rooms and age were sold at $900,000 in early 2006.

That's over 50% off. As a long term investment, let's say we make it back 30% in 10 years, 3% per year normal market value increases.

Purchase price...$400,000......10 year investment.....2019 value...$520,000. Hence, acquired equity of $120,000. And you've had 10 years across the street from the beach!

Call me to check out these great values! 910-619-6174

Check me out on Trulia!

Hey guys - view my real estate profile on Trulia.com.................one of the largest real estate search engines on the web today.


http://www.trulia.com/profile/id/225557


Here it is! Tell your friends and family!

The deals on bank owned and foreclosure homes are out there for the taking!

Home For Sale - Wilmington, NC

Cute home in the Ogden/Porter's Neck area with pond views and mature landscaping. Featuring 4 bedrooms and 2.5 baths plus a bonus room over garage. Recent upgrades include new heating/air system, hand-hewn cherry wood floors throughout main living area, granite countertops in kitchen and steel, insulated garage doors. Master bath boasts large tub and walk in closet while the master bedroom overlooks the pond.

Close to shopping, restaurants and Gold's Gym. This home is vacant and can be seen anytime. Just call or text me at 910-619-6174............

See you around the neighborhood!...Chris