Does your game plan require you to sell your home before you can make your next move in life? If so, you need a strategy to get the best price for your home in the shortest amount of time.
Think through your moves and determine your timeline. In the meantime, start prepping your home for sale—earlier is better—by thoroughly cleaning and decluttering every single space. Ditch excess belongings by donating, selling or pitching them. Box seldom used items and store them in an out-of-the way space, or, better yet, off-site. Create curb appeal that makes buyers want to get out of their car as soon as they see your home. Stage your home to create inviting spaces in which buyers want to live—and own. Predict when you’ll have to negotiate an offer and be flexible with your terms. If you practice all these moves, your game will end with a successful sale.
Learn how to master selling a home. It will open doors to your next move. Remember, as your real estate professionals, we can help you as you contemplate every single move!
If you’re looking to get your home sold quickly and for the best price, it takes some planning. Just like in chess, you’ll need to study the competition. See how your home stacks up against the ones already on the market. Consider your property’s location, amenities, age and condition as you visit these homes.
Take mental notes on what staging ideas make a room look warm and inviting. Recreate those in your own home. Determine what feature(s) your home has that the competition does not—and make that element pop in your own home. With a clear plan, you’re on your way!
The game board for chess is the same for all players, just as every home seller has access to the same set of information: data from recently sold, listed and expired homes; local economic conditions; housing demand; nearby competition; etc. It’s how you use this information that can give you an advantage.
Using the data, you can make an informed decision when pricing your home to sell fast. We can help you determine the price that buyers will find realistic and invite action, that is, a purchase offer. If you price too high, your home will languish; pricing it right or just under will create interest to get the selling game off on a good start!
Professional chess players are under time pressure to make each move. Home sellers have their own personal timeline dictating when they need to have the home sold. No matter how tight of a timeline you face, we can help.
Plan carefully for each move you make: prepping the home for sale; studying local data to determine a price; timing to put the home on the market to reach the greatest number of homebuyers; and getting the signed contract to closing/settlement uneventfully. It’s never too early to start planning to sell your home!
Going it alone in the real estate market can be overwhelming. Rely on real estate professionals—like us—to guide your moves through the entire selling process. We’ll cover the details and give you a play-by-play of every strategically important move you need to make. We’ll also tell you what to expect from buyers. Contact us. We look forward to helping you make the right moves to win the selling game!
Call us we would love to help. Or visit www.cbbaker.com for more Wilmington NC Real estate information. 910-202-3607 email@example.com
Check The Fine Print On Your Loan Estimate And Closing Disclosure
Mortgage lenders—including us, of course—do our best to make it easy for you to understand how much you can expect to pay for your home loan. To do this, we rely on two documents created by the Consumer Financial Protection Bureau (CFPB): the Loan Estimate and the Closing Disclosure.
The CFPB mandated the use of both forms starting in October of 2015. Now all mortgage lenders are required to use the standard Loan Estimate and Closing Disclosure forms nationwide. These streamlined forms make it easier for borrowers to understand all fees and costs associated with taking out a mortgage and understand exactly what they’ll be paying.
The first important form is a three-page document known as the Loan Estimate. Lenders are required to send their mortgage customers this form within three business days after they receive your mortgage loan application. The purpose of the Loan Estimate is simple: It spells out each and every cost related to your mortgage loan.
But be aware of this important fact: As the name suggests, the Loan Estimate does not contain final costs. Instead, it lists the estimated fees that your lender is charging you to close/settle your mortgage loan.
For final, exact figures, you’ll have to wait for the Closing Disclosure. This is another key form that lenders provide you, this time at least three business days before you close/settle your loan. The Closing Disclosure form lists the exact, final fees and interest rate you’ll be charged for your home loan.
Smart homebuyers will want to study both of these documents carefully. Make sure that the figures listed on your Closing Disclosure vary only slightly from the ones on your earlier Loan Estimate. If the fees on the Closing Disclosure differ—higher or lower—ask your lender about them. If you can’t resolve the discrepancies to your liking, you always have the option to walk away from the loan.
|The only one who benefits from a rent check is the landlord. Renters never see that money again, while homeowners usually profit when they sell. In addition, renters can’t use any of their rent payment as a tax deduction, like homeowners can. If you or someone you know is renting, it’s time to put that rent check to better use!e mortgage-interest deduction is probably the best financial argument for buying rather than renting. Consider this example:If you can afford a mortgage payment of $1,000 (principal and interest only), you can buy a house for $151,426 if you put 10% down on a 30-year mortgage at 8% interest ( current rate for great credit is 4%) . If your payments started in January, you would pay $10,862 in interest for the first year in the home. That entire amount is deductible on your federal income tax return! Assuming you are in the 27.5% tax bracket, you would save $2,989 in taxes, or $249 per month. So your $1,000 payment is really only $751 when you factor in the homeowner’s tax advantage.|
Using the same example, a 10% down payment would create an immediate equity of $15,142. Assuming the $151,426 house grows in value by just 3% a year, in five years it would be worth $175,544. The original loan amount would then be down to $129,565, yielding an equity of $45,980. In addition, remember the nearly $3,000 tax savings every year. The total value of your equity and tax savings would be almost $61,000 after five years.
To take advantage of the financial benefits of homeownership, renters must first find out how much buying power they have. We can help. Call us for information about the whole range of mortgage options now available, including low- and no-down-payment loans, and programs that allow buyers wrap home-improvement costs and closing costs into the mortgage.
Although some lenders allow buyers to use up to 41% of monthly income to purchase a house, beware of becoming “house rich and cash poor.” Be sure to budget for homeownership costs beyond the mortgage, including expenses for:
decorating and furnishing
homeowners association fees (if any)
utilities-power, water, sewer, cable, trash pick-up
yard tools, supplies and general upkeep
home repairs, supplies, cleaning and upgrades.
Today, homeownership is a wonderful dream-come-true for more people than ever before. Let us help turn those dreams into a home to be proud of.
Check out www.cbbaker.com for more information and helpful tips. firstname.lastname@example.org
Home ownership remains an important investment for most people, thanks in large part to the use of OPM (“Other People’s Money”) to gain “leverage.” Here’s how leverage works.
If you want to increase the value of your house hunting time and energy, let us go to work for you. We can help steer you through the complexities of contracting, financing and closing.
Visit www.cbbaker.com for more information.
Masonboro Island is an 8 mile long uninhabited island on the southern North Carolina coast between Wrightsville Beach and Carolina Beach and is part of the National Estuarine Research Reserve. Masonboro Island, only accessible by boat, is enjoyed by campers, surfers, anglers, and bird-watchers alike. The reserve consists of about 5000 acres, which about 4400 acres are tidal marsh and mud flats. The most northern end at Masonboro Inlet is the most popular area with its sandy beaches and protected waters. Any summer weekend you will see many boaters and campers prepared for a few days on the beach with tents, grills and water toys in tow. Read the rest of this entry
Whether you’re selling a home or looking to purchase one, you’ll want to make certain the home in question is in good physical condition. Check out the following list of the 10 most common home “health” problems identified by members of the American Society of Home Inspectors in a recent survey.
Inspectors rated this problem the most troublesome, with 35.8% of those surveyed listing it as their top issue. Responsible for household maladies, such as leaky basements or crawl spaces, grading and drainage problems can be fixed either by regrading the ground away from the house or replacing gutters and down spouts.
This was rated the most common problem by 20% of the inspectors surveyed. Some inspectors reported that 70% to 80% of electrical wiring in homes is installed incorrectly — mostly by do-it-yourselfers. Noted problems included insufficient electrical service, inadequate overload protection and amateur (sometimes dangerous) wiring connections.
Leaking roofs ranked third in the survey, resulting most often from old or damaged shingles or improper flashing and drainage. Asphalt shingles, the most commonly used shingle type, last between 20 and 30 years — about the same life span as wooden shake shingles. For longevity, try slate shingles, which can last 100-plus years!
Most sales contracts require that heating systems be in working order, so it’s an item that must be dealt with if it fails the home inspection — which often happens, according to the ASHI survey. Problems include broken or malfunctioning controls, blocked chimneys and unsafe exhaust disposal. Don’t overlook heating system problems — they can be dangerous if left unattended.
Although the survey found this problem common, it is truly avoidable. Signs of poor maintenance include: cracked, peeling or dirty painted surfaces; crumbling masonry; makeshift wiring or plumbing; and broken fixtures and appliances.
This category includes damage to structural components such as foundation walls, floor joists, rafters and window/door headers — often caused by some of the five problems already listed.
Common problems include faulty fixtures and waste lines and the existence of old or incompatible piping materials.
While exterior flaws may not have structural significance, defects in windows, doors and wall surfaces can cause discomfort to residents via moisture and air penetration. The most common exterior problems are inadequate caulking and/or weatherstripping.
It is possible to “overseal” a home, resulting in excessive interior moisture, which can lead to rotting and failure of structural and non-structural elements.
Included here were interior elements — usually cosmetic. They were mentioned so infrequently by respondents that they did not rank individually in the survey.Fortunately, many of the most common problems in homes are far from fatal — they can often be fixed quickly and inexpensively! The point is to fix them early, before they cause significant damage to your home.
Call us 910-202-3607 for more information and tips. Or visit www.cbbaker.com
You simply have to make bi-weekly payments.
Here’s how this works: Normally, you’ll make 12 mortgage payments a year, one each month. If you owe $1,000 on your mortgage each month, you’ll make 12 mortgage payments for a total of $12,000 a year. But if you split your payment into bi-weekly payments, you’ll pay $500 every two weeks.
This pays off in a big way: Because there are 52 weeks in a year, you’ll make 26 bi-weekly payments. That is equal to making 13 monthly payments in a year. That’s right, with the bi-weekly mortgage payment, you’d make one extra mortgage payment each year than you would when paying 12 standard monthly payments.
Bi-weekly payments reduce the payoff time of your mortgage loan. The number of months you chop off your mortgage varies depending on the size, interest rate and length of your loan. If you are paying off a 30-year, fixed-rate mortgage loan of $180,000 with an interest rate of 4%, you’ll pay off your loan in 25 years and 11 months, eliminating four years and one month of payments. That means you’ll also save more than $20,000 in interest during the life of your loan.
Those are some compelling reasons to consider a bi-weekly payment plan. Call us today if you are interested. We’ll walk you through the process and help you make the right decision for your financial situation.
Although many people prefer to buy new homes, the vast majority of buyers prefer resales. According to the National Association of Realtors, 75% of homes sold are resales.When home buyers ask us about the merits of buying an “old” versus a newly built home, we show them how resales offer some of the best values in the market today. The news gets better when they see the wonderfully diverse resale selection of appealing styles and sizes in may locations and price ranges. Plus, when the owner goes to sell an “old” home, they have what most buyers are looking for.
Here are some of the advantages that make “old” homes so popular:
Older homes often have more space inside and out than new homes. Inside, resale homes may have more square footage and higher ceilings; outside, resale lot sizes are typically larger.
Many resale homes are in older neighborhoods, which are closer to downtown business districts and shopping. New communities are often a distance away from cities and commute times may be much longer.
Resale homes generally are less expensive than similar new homes. One reason could be that resale sellers have more bargaining room than builders who must make a return on the high costs they recently paid for land and building materials. In fact, a NAR study found resale sellers accepted a median drop of $4,000 from their asking price while builders’ median drop was only $500.
For tree lovers, resales are a big draw. Older homes typically have mature trees and plantings, unlike what’s found in new neighborhoods.
There is no guesswork with older, established neighborhoods. Buyers can research and tour the schools, sample the shopping, and check out the neighbors. In a new-home subdivision, buyers might not want to live with the noise and dirt of construction, may wonder about future development, or deal with possible long bus rides to existing schools and little or no nearby shopping.
Many resale buyers cash in on “extras” the owner has already put in, which can save big money. Typical money-saving extras: fenced yards, decks, pools, play sets, window treatments and appliances.We would be happy to assist you with your house-hunting needs. A resale home can be an excellent value for a buyer in today’s market. Call or e-mail for more information.”
The single smartest move you can make is to put off house hunting until you have a firm idea of your buying power. If you are pre-approved for a loan, you can save considerable time house hunting and mortgage shopping.
A pre-approved mortgage loan is an excellent guideline to help relocating home buyers know how much home they can afford. For the seller, pre-approval is proof that the buyer’s lender feels confident a loan commitment would not be a problem if all the financial documentation were in order.
Before you jump into planning your move, there are some terrific services we offer to relocating families moving into or out of our area. Let us help you take advantage of them. Send us an e-mail or give us a call. 910-202-3607 or email@example.com