I haven't been there yet, but heard it is really nice. We will prob. take a trip down in Sept/Oct. We had liked the Wilmington area, but we think it may be too small and too focused on Golf.

I'll let you know how we do.

 

Jim/Deb,

Don't inch your way too far north and stay coastal for the best weather.

 

Banks derive their income from loans, they cannot hold out forever.

 

part of the problem was the capitol markets were awash in cash coming out of 2000.
This was why so many were willing to invest in marginal opportunities.
A huge market contraction by lost income has gone a long way to 'correcting' that condition.

 

For PokS2k and anybody else thinking of investing on the east coast, I would like to plug a house for sale on Carolina Beach, NC. just 6 blocks fom the ocean. It's belongs to my sister and her husband. It's 4 bedrooms, 4 bathrooms, 2 story, and the downstairs has it's own kitchen, separate heat and a/c, so it can be rented out. Built in 1999 and 1944 sq. ft. it is on the market for $378K, which is down 100K with the market decllne. You can post here or PM me for more info. Thank you and forgive the commercial.

 

Well, I just recieved a request for a release from the contract so this deal is toast. I have also had a consultation from another appraiser who looked at the appraisers report and suggested I file a complaint with the appraisal board because of what this has cost me. He said the guy used a figure of $10/sq. foot to value the improvements, which he said he hasn't used for years. Has anyone filed such a complaint?

 

Sorry to hear this...was hoping the second round would result in success. I've never filed a complaint. I can't believe he used that ridiculously low figure. Should have been more like $100 a sq ft!

 

Carmen...try this:

http://www.com.state.oh.us/real/appmain.htm

At the bottom of the page, you'll see a link to How to File a Complaint.

 

Thanks Deb! We never got as far as getting the 2nd appraisal done...he was backed up. He told me just by looking at the last appraisal he can get 30k more value. Doesn't get me the full 55k difference but it's better.

 

I know you think your realtor is great but I was with one two days ago looking at a cottage. He got a cell call saying an appraisal had come in $15k/$20k low - his reply, "Don't worry about it; we can fix that." I didn't ask how.