A great oceanfront house for sale. Vacant lot next door. The land goes on the market. The house next door drops its price almost a half million.
We still haven’t made it to Wilmington NC to actually see Figure Eight Island for ourselves (hard to leave Dawg) but it’s looking good for deals. I noticed the other homes on Figure Eight are sitting unsold, some reduced too. Could be related to the last storm that hit the NC shore hard or it could be that people don’t want to live in a gated community with steep annual HOA dues or it could be people would rather buy raw land and build or that all us baby boomer age group moving to North Carolina did so already so this house doesn’t have a big enough buyer pool.
As we continue to look, raw land seems the most logical option for us too, build a home that meets the most up to date coastal regulations in height and in being hurricane proof.
With the two acres for sale at 518 Beach Road at $2.6m plus what, $1.5m for a big house? Or buy and move in to a house already done and hope that whoever buys the land next door doesn’t permanently block your view, if, that is, you can tolerate a year or more of construction vehicles making noise.
I report. You decide.