Landfall Real Estate in Wilmington NC

Should you rent a home in Landfall? NO!

By the way...The #1 resource for those thinking about buying a home here is the Landfall real estate blog.

Cliff notes on the Landfall Neighborhood

● over 2000 homes● 45 holes of golf● 14 tennis courts● the most eastern neighborhood of Wilmington NC near

Wrightsville Beach and bordering the Intracoastal Waterway

● "over 900 children keep the neighborhood young" Probably more than that now as that observation was made by the Landfall organization in 2007

● Forbes "Best Address" 2001● Monthly social events, kids classes and activities,● 1600 sq ft fitness center

Cliff notes cont.

● Water Water everywhere!○ the community is surrounded by

water--marshes, intracoastal waterway, ponds and creeks

Sample home for rent in landfall:

Leased for $2200/month in January 2012.

3900 sq ft -- a lot of house, no?

Sample home that recently sold:

● Sold for $505,000 12/14/2011● 3900 sq ft● stately beyond measure :)● 5BR and 4.5 Baths● pond view

Let's do the math for similar sizehomes in Landfall--rent vs. buy

Rent:● $2200/month● no interest mortgage

deduction● no appreciation or

equity gained over 5 years

● no right to customize home to you---whether modding floorplan, exterior structures, etc.

Own:(see next slide)

Owning Landfall Real Estate

● 450,000 mortgage = $2084/month● $2084+ $155 (monthly real estate taxes)=$2234/month● itemized taxes--the monthly savings of the

interest rate deduction vs. the standard deduction is about $200/month in savings advantage--your tax advisor can be more specific

● so that's 2234-200= $2034/month

Benefits of buying continued:Where we left off:● $2034/month to own● in 5 years 10% appreciation is very

conservative--the bust just happened past 5 years. What goes down must come up. Prices already starting to rise

= $50,000 in appreciation = $555,000 homeAnd your amount owed has dropped $20,000 for example for a net + $75,000 in wealth compared to renting in Landfall in Wilmington NC

Oops-- I forgotMonthly association dues for the neighborhood are $340x12= $4080/year x 5 years = $20,000.

$75,000-20,000 = $55,000 + for owning compared to renting.

No wonder financial advisors "appreciate" home ownership in most scenarios-- are you going to be there at least 3 years? Then buy if you can.

And of course...it's your HOME.

You decide everything--renovations, changing floor plans, changing landscaping, how long you will live there, etc.

Here is another slideshare presentation on Landfall market data and foreclosures.

Brought to you by:

Jay Seville (785-BY-HOUSE cell)Associate Broker at Wilmington Real Estate 4U5041 New Centre Drive #108Wilmington, NC 28403

Owner of JustNewListings.com Realty, Inc1100 N Glebe Rd #1010Arlington, VA 22201