Wilmington NC Makes Best Housing Market List 2013 | Real Esate

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The market has been brisk for months now, and we officially made another list!  The Wilmington NC real estate market made the top 14 best housing markets for the next 5 years.  To find out about our area, or to look for Wilmington Beach areas please visit www.cbbaker.com

From the Money Insider:

13. Wilmington, North Carolina

Annualized expected growth from Q3 2012 – Q3 2017:
7.1%

Home prices in the Wilmington metro area are down 25.6% from their Q2 2007 peak.

The metro has a population of 369,685, an unemployment rate of 9.8%, and a median family income of $61,100.

Data provided by CoreLogic Case-Shiller Indexes

Read more: http://www.businessinsider.com/best-housing-markets-for-five-years-2013-5?op=1#ixzz2Uh9Q0LsB

Categories: wilmington nc real estate, wilmington nc relocation, Wrightsville Beach makes Top 20 Surf Towns, Wrightsville Beach NC

REMODEL:Ten Ingenious Ways to Remodel With Beauty and the Best

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Get more ideas here.

What does your home need to bring out its beauty and its best value? Not mundane repair items, but those touches that showcase your home’s worth, enhance its beauty, improve its comfort and safety–things that carry enchantment far beyond one festive season.Go over your home, room by room, with an eye to what’s best in aesthetic and practical value. Keep in mind how long you plan to keep your home and what might appeal to future buyers.

Here are some of the latest trends you might consider to make the home you love even more lovable. Generally, luxurious details are in. Not only are they smart and practical, they’re also sure-fire investments for bringing you top dollar on resale.

1. Paint, panel or paper
Keep in mind, light colors make rooms look larger, dark colors smaller (cozier). If you like soft colors (pale pinks, greens, blues, yellows), they’re ideal for enlarging small rooms. Perk them up with accents in deeper tones or with interesting textures (such as sponging some walls or adding sisal).

If you like a touch of the dramatic, paint a door in primary colors or add a “fool the eye” scene (such as a landscape that seems to be seen through glass). Don’t be afraid to put reds and pinks together, or blues and greens. For real drama, add white trim to deep colors. Remember, if you’re thinking of selling your home soon–neutral tones are “safer.” Splash color around using upholstery, throw pillows, artwork and other furnishings.

2. Give small rooms extra dimension
Put in floor-to-ceiling mirrors. Place one at right angles to a corner window to bring in the outdoors. Mirrors at different angles create a patchwork of repeated patterns that can be interesting, light reflecting and fun.

3. Light up the house
Consider creative lighting, including:

  • Spotlights to point up art work
  • Track lights to illuminate bookshelves
  • Indirect lights or decorative wall sconces wherever shadows are too deep
  • Under-counter lights in kitchens and workshops
  • Using incandescent or halogen lighting, which is warmer than fluorescent

4. Transform your floors
Look under foot to refinish, recarpet or retile. Wood floors can be bleached, pickled, stained, painted almost any color or made unique by installing ceramic tiles in the kitchen, or a block of patterned wood (inside a wood border) in the center of a dining room or bedroom.

5. Open spaces and clear surfaces
Go with the trend of fewer furnishings and belongings in view. For things you want handy but not displayed, create storage places:

  • A window seat
  • Narrow shelves inside closet and cabinet doors
  • A tip-down triangular tray (for brushes, sponges, etc.) built into the cabinet at the front of the kitchen sink
  • A wall system with cubes of different sizes, some with shelves, some with drawers
  • A “Murphy” bed that folds into the wall

6. Large family kitchens
Top-grade is the trend in appliances, including microwave ovens, disposals and compactors, work islands that sport stainless steel double sinks or a down-vented stove, plus side bookshelves or lift-up table top. The dining end of the kitchen might be equipped with comfortable chairs, a desk, or book shelves. A fireplace turns the kitchen into a homey family room where everyone lingers.

7. Luxurious bathrooms
Make your privacy a pleasure. You might install light dimmers and thermostatically controlled mixer taps, extra mirrors, a solarium window, or create a sunken bath set in a raised floor that houses the plumbing.

8. Year-round comfort
Utility bills can be lower when windows are installed with low-emissity glass (gas filling between panes) that can be twice as efficient as double-glazed windows. They reflect heat, keeping your home cooler in summer and warmer in winter. An invisible coating also blocks ultraviolet light and protects furnishings.

9. Makeover the garage
The car park may not be the most beautiful part of your home, but it may be the most useful space you have–if it’s soundly built, clean, well organized and uncluttered. A garage can double as a workshop, garden house or playground. An automatic door opener is the warmest welcome in wet or cold weather.

10. Consider safety and convenience
Whatever alarm system you add to your basic smoke detector contributes to your peace and security. Electronic “smart” devices can be installed to turn lights, appliances and heating/air conditioning off and on at pre-set times, to warn of intrusion or announce a visitor, to remind you (in a synthesized voice) when you’re due at an appointment or when you’re using too much electricity.

Home improvement possibilities are endless. But if your home can’t accommodate your dreams–with neither love nor money–remember there are homes in the area that will. When you’re ready to explore the possibilities, we’re here to help make your dreams come true.

To search all Wilmington NC real estate, please visit www.cbbaker.com

Categories: Remodel or Sell, Remodel your home, Staging your home, wilmington nc real estate, wilmington nc relocation, wilmington real estate stats, Wrightsville Beach makes Top 20 Surf Towns, Wrightsville Beach NC

Where is Figure Eight Island, NC?

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Figure Eight Island Figure Eight Island, NC

Figure Eight Island, NC is located just north of Wrightsville Beach, NC . It is a private island, only accessible by a swing-bridge with a gatehouse and is bordered by the Intracoastal Waterway and the Atlantic Ocean. The island consists of 1300 acres and approximately 441 homes. Before the turn of the century,  Figure Eight  was only home to horses roaming on the dunes. Figure Eight Island today is a beautiful coastal community offering the ultimate in privacy and security and just minutes from the conveniences of Wilmington and Wrightsville Beach, NC. Figure Eight remains untouched by commercial developments like hotels and shopping centers, although there are many conveniently located nearby. Read the rest of this entry

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Home Selling Tips

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With the housing market beginning to rebound, many sellers are starting to ask “where is my offer”? Well, please understand that it is still a buyer’s market. Even though the numbers are starting to point to a rebound, sellers will still need to be diligent in the house selling process.

1. Be careful not to overprice your home. If you are truly motivated to sell in a short length of time, you will need to price it under the market. There are still sellers who think their home is exceptional and should be higher priced. Do not make this mistake. Price your home aggressively.

2.Do not ignore or reject an offer. Any offer is worth negotiating these days, no matter how low. You never know what the buyer is thinking. He may be willing to pay your price.

3.Do not miss the window of opportunity to prepare your home for showing and stage your home. Home sellers need to make your home shine and stand out from the competition. Home buyers have their choice and can be very selective.

4. Sellers need to be knowledgeable of all the competition. Take the time to go look at some of the homes on the market.

5. Sellers should vacate the home during open houses and showings. Buyers are much more willing to take their time and look at everything if the seller is not at home.

6. Be sure to choose an experienced agent with local knowledge and internet presence to market your home.

www.cbbaker.com for all your Wilmington NC real estate needs

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MORTGAGE:: Insider’s Guide To The Latest Home-Loan Opportunities

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Mortgage lending is a continually changing industry. Here are some of the more recent changes in regulations, practices and products.

wilmington nc real estateLenders Welcome Borrowers With Open Arms

Affordable interest rates mean more people can qualify to buy a first home or move to a bigger home, and lenders are reaching out to make mortgages more attractive. Some lenders even sweeten the pot with low (or even no) closing costs. Recently, best buys have been 15-year and 30-year fixed-rate mortgages. In many cases, the rates for these loans have been just above adjustable rate mortgage initial rates, which are low for a short period of time, then adjust (rise or fall) with the market.

 

FHA Changes Mean Help For More Buyers

Changes to the Federal Housing Administration’s (FHA) mortgage program opened FHA up to many more potential home buyers. Home buyers with an FHA-insured single-family home loan may now finance 100% of the closing costs on the loan. Previously, FHA allowed home buyers to finance only 57% of the closing costs, which added hundreds of dollars to the up-front cash home buyers need for settlement.

A second important change to FHA was raising the maximum loan amount in high-cost areas and linking the maximum to local housing costs. The FHA’s mortgage limit varies by location and property type, depending on home prices in an area and the number of units in the property. In addition, FHA has higher limits in Alaska, Hawaii, Guam, and the U.S. Virgin Islands because these are considered to be high-cost areas. You can check the current FHA loan limit in your area by going online to: https://entp.hud.gov/idapp/html/hicostlook.cfm

Now borrowers will have to put down 3% of the first $25,000 of the loan amount; 5% of the loan amount between $25,001 and $125,000; and 10% of the loan amount above $125,000.

These changes will interest higher-end buyers in FHA loans and make FHA more accessible to those whom the program is primarily intended to serve — prospective buyers who do not qualify for conventional financing. Traditionally, FHA has served buyers who have lower incomes, make smaller down payments and purchase less expensive homes.

More Good News For Loan Shoppers

{short description of image} Federal regulation now mandates that mortgage brokers itemize all fees they receive to originate or close a loan.

Previously, brokers were allowed to lump miscellaneous charges and premiums into a general fees category, which made it nearly impossible to comparison-shop lender fees. The law applies only to mortgage brokers, not mortgage bankers. Fees really do add up, so when loan shopping, ask up-front for an itemized breakdown of lender fees.

Mortgage Help For First-Time Buyers

An exciting Fannie Mae program may help open the door to home ownership for low- and moderate-income buyers.

The Community Home Buyers Program allows for slightly more debt when qualifying for a loan than standard mortgage plans.

Although this program requires a 5% down payment, borrowers can make the down payment with as little as 3% of their money and up to 2% from a family gift or loan from a government or nonprofit agency. In addition, the Community Home Buyers Program waives the common requirement that borrowers have two months’ worth of mortgage payments in savings after closing.

There are special requirements to qualify: Borrowers must attend a series of home-buyer education classes and the borrower’s income must not exceed 115% of the median income in the area. For more information: Fannie Mae, Public Information Office, 3900 Wisconsin Avenue, NW, Washington, DC 20016 or call (800) 732-6643.

Computer Programs Rate Borrowers

There’s a relatively new twist in mortgage lending. Recently, lenders have started to replace traditional underwriter’s judgements on an applicant’s creditworthiness with a computerized credit rating called “credit scoring.”

Both ways of assessing a potential borrower’s ability to pay back the loan — the underwriter’s judgements and credit scoring — rely on much the same information: salary history, credit history from credit reporting companies, ratio of debts-to-income, etc. But credit scoring uses a computer program designed to predict who will default on a loan. It assigns a numerical score to each factor and then adds them up. Credit scoring is objective and designed to uncover hidden problems. For this reason, credit-scoring programs may assign more importance to some factors that the underwriters might overlook.

If you are interested in learning more about any of these new lending procedures, call or e-mail us. We’ll be happy to assist you.

Categories: wilmington nc real estate, wilmington nc relocation, wilmington real estate stats, Wrightsville Beach NC

Enticing The Buyer to Buy YOUR home | Wilmington NC real estate

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INCENTIVES:
12 Contract Options That Entice Buyers

If you’re selling in today’s market, you want to make your house outshine the competition. Buyers are most likely to choose your house if it offers something special. Here are 12 ways to make sure you land a “Sale, Sweet Sale.”

A Spoonful Of Sugar

1. Offer a warranty.

Purchase a buyer’s home warranty to protect against future problems.

2. Help with closing costs.

Cash-poor buyers concerned more with out-of-pocket costs than monthly payments will especially appreciate this one.

3. Consider financing help.

Provide seller financing or buy down the buyer’s mortgage rate for the first year.

4. Help with utilities.

Pay some or all estimated utilities for 6 or 12 months.

5. Help with fees.

Pay a year’s condominium or homeowners association fees.

6. Pre-pay memberships.

Buy a one-year pool or community golf club membership, cable TV subscription, or other recreational activity.

7. Consider a moving allowance.

Pay the buyer’s documented moving expenses, or provide an allowance toward moving costs.

8. Treat them to window treatments.

Offer redecorating cash for new carpet or drapes.

9. Mow down any objections.

Buy a lawn-maintenance service for a year, or offer a riding mower if the lot is large.

10. Give them a dock on the bay.

If you live in a waterfront community, offer to rent a boat slip for a year.

11. Reimburse buyer the cost of points.

{short description of image}This is often a double benefit for buyers, who save both on the points themselves and on their federal taxes. The IRS now allows buyers to deduct the cost of seller-paid points as a Schedule A mortgage expense.

12. Price your home below comparable properties.

Prove your home’s good value by having an appraisal done and setting the price below the appraised amount.Call on us for more ideas of ways to make your home the sweetest one on the market. We’ll create a customized marketing program to help get your home sold in any market!

 

Categories: 2-10 home warranty, wilmington nc real estate, wilmington nc relocation, wilmington real estate stats


Kay Baker Associates | 1001 Military Cutoff | Ste 101 Wilmington, NC 28405 | kaybakerassociates@ec.rr.com | 910-202-3607 | Fax 910-338-2428

Copyright © 2017 Wilmington NC Real Estate Guide. All rights reserved. Disclaimer: All content on this blog is my own opinion and should not be treated as fact or relied upon when purchasing or selling real estate.