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Should You Really Invest in Wilmington Foreclosures?



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By : John Smith    99 or more times read
Wilmington is a city in the State of North Carolina. According to the data collected in 2007, the total population of this city was around 99,623. Wilmington is one of the most popular tourist destinations because of its location on the Cape Fear River. From economic point of view, Wilmington is one of the fastest growing cities in this State and that’s the reason why people aspire to buy a home in here. If you are also one of those persons, then consider getting a home by checking Wilmington foreclosures.

Although foreclosures are not quite helpful for a city or state, it is hard to avoid foreclosures considering the current economic crisis. It is actually because of this crisis that real estate market in Wilmington saw a fall of 55% in January. This can also be seen in the following graph which is also available at Trulia.com.

This graph is to show you the change in average listing price from Feb 18 till Mar 11. The first thing to notice in this graph is the fall of price from Feb 18 till Feb 25. The thing is that this decline in price was pretty drastic and price moved from $379K to somewhere around $375K. Although the decrease in price was there after Feb 25, it was not as drastic as it was from Feb 18 to Feb 25.

However, the decrease in price was consistent which made price to get to the $373K range. Also, the price for a single square in Wilmington was $139, which was actually a decrease of 54.3% as compared to the same period in last year. In short, the average price of a home in Wilmington is not really encouraging for people to invest in the Wilmington foreclosures for sale.

However, one of the facts about North Carolina is that it is still regarded as one of the best places to live in the US. Although there are people who are moving out from this state, the great thing is that the number of people moving in is bigger. In fact, it has been found by The NC Association of Realtors that more than 180 people moved in for every 100 people moving out of the state. What it implies is that investing in Wilmington foreclosures is still a good option as things are expected to get better in near future.
Original Post: Should You Really Invest in Wilmington Foreclosures? on ForeclosureConnections.com.

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