Market Report - Wilmington North Carolina

Reviewing popular master planned communities requires more than analyzing the condition of amenities and sales data. Listening to residents in a social atmosphere is one of the most important things we experience. When residents discover who we are, property owners are quick to share with us their happy experiences and issues at hand. While we were in Wilmington NC this week, we talked with three frustrated property owners who expressed the pro’s and con’s of outsourced golf club management, something we hadn’t really focused on before. It’s common for large golf course communities to outsource club management. The down side these property owner's felt, is the loss of a personal touch and top notch service from the real estate sales staff all the way down to the dishwasher.

Real estate developers would be smart to solicit and pay careful attention to property owners feedback regarding each of their amenities, whether they’re managed in house or outsourced. As you search for the right community for you, be sure to spend time talking property owners impromptu during your visit, to find out what's not printed in a brochure.

Here’s what’s happening at the most popular coastal North Carolina communities in the Wilmington area:

BRUNSWICK FOREST - LELAND

It was a pleasure to see how much progress this coastal North Carolina community has made since our last visit. There were 75 homes under construction bringing to the total homes built to approximately 800 of the 5,500 planned. Brunswick Forest reports 217 sales in 2012. This non-gated master planned community is one of the finest walking communities we’ve seen to date. Wide sidewalks weave in and around the neighborhoods leading to community parks, Cape Fear National Golf Course, an 18,000 square foot Fitness and Wellness Center and The Villages, the community’s retail shopping complex with a Lowes Grocery Store, restaurants and retail businesses. We toured the Cape Fear National Golf Course and found it to be a nature lover’s eye candy. Swaying grasses, deep bunkers, some beach-style cart paths and eye capturing birdlife gave the golf course a style of its own and the golf course is open to the public.

In our opinion, people are attracted to Wilmington NC real estate because you can buy a quality new home from builders such as Jordan Homes, Bill Clark Homes, Logan Homes and Trusst Builders under $300k. Park Landing, Colony Ponds and Shelmore Phase 2 are Brunswick Forest’s newest neighborhoods. What you won’t find are expensive club memberships or HOA fees at Brunswick Forest. Approximately 85% of the residents live at this coastal North Carolina community year round. Resident sponsored social clubs include Drop-In Tennis, Singles & More, and the Sunset Kayak Club. Residents are very friendly and socially active at this Wilmington NC golf community. If you’re interested in seeing the latest floor plans, write us at info@communityfinder.com. We're happy to send their information package your way.

COMPASS POINTE - LELAND

This newer coastal North Carolina community’s 10,000 square Grand Lanai overlooking their swimming pool was a grand surprise to us and a job well done. Initially, we wondered about the open-air concept and discovered it can easily be fully enclosed by the decorative doors. On the planning board this year at Compass Pointe, a 4,200 square foot fitness center, two lighted tennis courts and basketball courts in the same area. We asked about the proposed Rick Robbins golf course and were told completion is scheduled for the end of 2014. There were 35 homes under construction bringing the total to approximately 200 of the 2,400 planned. Compass Pointe reports 125 closed sales in 2012.One of the noticeable differences at Compass Pointe over other Wilmington NC neighborhoods is that the community is golf cart friendly, an attractive feature to an aging Baby Boomer population. As we toured the community taking updated home pictures, residents waved as we passed by and another group of ladies stopped us asking if we planned to move in and then inviting us over for coffee. This friendly coastal North Carolina community is a great place to find new homes in the mid $200k’s. Ask us about their Discovery Packages and event dates.

LANDFALL COUNTRY CLUB - WILMINGTON

Their understated entrance hides behind it one of Wilmington’s ‘Best Addresses’ according to Forbes Magazine. This refined gated Wilmington NC golf community exemplifies family country club living close to Wrightsville Beach. English Manor, French Country and Low Country cottage architecture compliment the community’s curb appeal lined with mature trees and large accent lakes. Many of the homes are Wilmington NC deepwater homes. Capital improvements for this year at the Drysdale Sports Center include new gazebos for the tennis courts, deck work around Landfall’s resort-style swimming pool and the hard courts will be resurfaced.According to the MLS, in 2012 there were 84 closed sales.

Home prices at Landfall Country Club average in the high $500k’s. Full membership privileges run $30k for a non-refundable equity membership and dues are $631 a month. A social membership runs $5k for a non-refundable membership and dues are $127 a month. Interestingly, non-refundable equity membership costs have been reduced 20-30% from last year. While the Dye Course was extremely busy, we wondered about the status of the Dye Clubhouse as it appears to not be regularly used.Landfall has one of the most active philanthropic group of property owners we’ve ever seen. The Landfall Foundation has raised $2.5 million since its inception in 1996 giving proceeds back to the local community. If traditional country club living defines you best, ask us to send you the latest Landfall Country Club home listings.

MAGNOLIA GREENS AND WATERFORD OF THE CAROLINAS - LELAND

These two established coastal North Carolina communities are located side by side. Magnolia Greens has a public golf course and Waterford of the Carolinas was designed with an interconnected waterway system where residents can roam around the community on a small boat. We asked a resident at the clubhouse, if property owners actually use the narrow lakes as navigable waterways. As we suspected, the answer was no because we don't see it as practical. The waterway’s are pretty and do have fishing docks behind many of the homes. We found Magnolia Greens to have better curb appeal and most of the brick-style homes have been built. Waterford of the Carolinas had a large number of vacant lots with unattractive utility stub outs exposed. We also felt the number of individual gated entrances off Waterford’s spine road looked odd.

NEWLY APPROVED COMMUNITIES

PORTERS NECK COUNTRY CLUB - WILMINGTON

We are thrilled to have uncovered another quality Wilmington NC golf community. Similar to Landfall, Porters Neck architectural styles reflect English Manor, French Country and Colonial. The large Sports Center was experiencing a facelift and is scheduled to re-open in April. Amenities include new work out equipment, seven lighted Hydro-Clay courts, and two attractive swimming pools. The golf course was designed by Tom Fazio and has been named the #1 Coastal Golf Course in North Carolina by Golf Digest. Hole #9 is the course’s signature hole. Porters Neck Country Club parallels the Intracoastal Waterway and is a great place to find Wilmington NC deepwater homes or homes overlooking the golf course. Residents have access to the waterway via the community’s private boat ramp.New homes are still being built at Porters Neck in the newer neighborhoods. Home prices range from the low $300k’s and easily exceed $2 million. At this time, membership to join the club is almost half the price of Landfall. Initiation fees are currently $15k with dues of $475 a month. This peaceful quiet neighborhood is spacious and has beautiful winding roads. We’re happy to share more information with you about Porters Neck Country Club. 

TIDALWALK - WILMINGTON

Hammers were banging away at this Wilmington NC deepwater homes neighborhood. There were so many homes under construction, it was hard to count. Its location is special, located just across the bridge from Carolina Beach. DR Horton is the primary builder building new homes starting in the mid $300k’s. Completed amenities include 4,200 square foot Nantucket-style clubhouse with a walk in salt water swimming pool, fitness center, private island and 10 wet boat slips (9 deeded and 1 community dock) on the Intracoastal Waterway. Once a distressed developer property, this Wilmington NC waterfront community is alive and well. We have all of DR Horton’s floor plans on file. If you’re looking for a marina oriented newer neighborhood close to Carolina Beach, ask us for a Tidalwalk information package.

PARKSIDE AT MAYFAIRE - WILMINGTON

Many of our buyers ask us about where coastal North Carolina communities are located who have quality shopping within walking distance. We found another gem here in Wilmington, walking distance to Mayfaire Town Center, voted Wilmington’s Best Shopping Center 6 years in a row. Mayfaire Town Center has 65 shops and restaurants, two grocery stores, and a movie theater. Parkside at Mayfaire is a winner and is an excellent walking community. This close knit neighborhood has a Charleston flavor with large pastel colored two story homes on small footprint lots. There were about a dozen homes under construction during our visit. An ornate fountain and outdoor pavilion overlooking a small pond frame out the community. Parkside at Mayfaire offers convenient urban living in a traditional single family home neighborhood. Home prices begin in the $400k’s.There’s a lot to see in Wilmington, on both the north side and south side of the Cape Fear River. Make things easy for yourself by pairing up with our trusted colleagues in Wilmington. Just ask us to introduce you. Write info@communityfinder.com or call us toll free 866.384.1799.

Our Market Report for Southport NC is coming up next...