The Week in Review
…your Wilmington Connection
July 19,2009
Great weather in Wilmington this week. Cooler temperatures, but still had a few hot days. Yesterday the weather was pretty warm for our 5 & 10 mile Summer of love run. Great to see so many people out there a great event, with a 60’s tribute band after the run.
Wilmington NC Real Estate
The real estate market has been pretty steady. After all is said and done we all still have to buy homes, whether we are first time home buyers, second home buyers, or moving up. As I’m sure your all aware its a great time to buy with low home prices and amazing mortgage rates. Currently in New Hanover cournty there are 2368 single family homes on the market, 329 homes are currently under contract and in the last 3 months there has been 524 homes closed. Not bad at all!
New Tax Law to help builders?
The new law if Perdue signs off: Builders after Jan. 1 will be able to apply to defer tax for up to three years on their finished, unsold homes. They will still have to pay the tax, in addition to interest, when they sell the home or the deferral expires.
This week the supply of new construction inventory homes was about 450 in the Wilmington MLS. The MLS covers all of New Hanover County, most of Pender County and parts of Brunswick County. In Brunswick County, that number was about 235, according to the Brunswick MLS. Any help will be beneficial,to keep these builders afloat.
Golf course for sale. Will the city of Wilmington Purchase?
Inland Greens par 3 golf course is for sale and the city of Wilmington has money to buy. Although the economy is rocky, it makes sense for the city to purchase it now at a good price and keep developer from laying more asphalt.
The new course would provide an ideal, low-stress environment for a beginner, child, or any family memberr looking to play a little but not intersted in spending all day there, or losing out on a paycheck.
Low-handicappers could use it to fine-tune their short games. High-handicappers might come home with more golf balls than usual.
….until next week in The Week in Review
Tina
