2. By the way...
The #1 resource for
those thinking about
buying a home here
is the Landfall real
estate blog.
3. 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
4. Cliff notes cont.
● Water Water everywhere!
○ the community is surrounded by
water--marshes, intracoastal
waterway, ponds and creeks
5. Sample home for rent in landfall:
Leased for
$2200/month in
January 2012.
3900 sq ft -- a lot
of house, no?
6. 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
7. Let's do the math for similar size
homes in Landfall--rent vs. buy
Rent: Own:
(see next slide)
● $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.
8. 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
9. 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 home
And your amount owed has dropped $20,000
for example for a net + $75,000 in wealth
compared to renting in Landfall in Wilmington
NC
10. Oops-- I forgot
Monthly 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.
11. 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.
12. Brought to you by:
Jay Seville (785-BY-HOUSE ) cell
Associate Broker at Wilmington Real Estate 4U
5041 New Centre Drive #108
Wilmington, NC 28403
Owner of JustNewListings.com Realty, Inc
1100 N Glebe Rd #1010
Arlington, VA 22201
