Just Released | Wilmington NC Real Estate Third Quarter Stats By Zip Code

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Just Released:
Wilmington NC Real Estate = Third Quarter Report by Zip Code

By R.J. Alex, 2013 President, Wilmington Regional Association of Realtors®

When analyzing ten major zip codes in our region – 28403, 28405, 28409, 28411, 28412, 28451, 28480, 28428, 28449, and 28443 – an average of the zip codes for the third quarter of 2013 shows that:

  • Our average sales price has increased by 5.5% from Year End 2012.
  • Of the 1,346 sellers in 3rd Quarter – 26.30% paid some sort of concession toward the purchase of the house.
  • Our list to sales price ratio for 3rd Quarter is 96.74%, an increase from 95.25% for Year End 2012.
  • The average list price of sold properties is $267,970 and is up 3.8% from Year End 2012.
  • The average number of days a property remained on the market for 3rd Quarter was 114 days, compared to 144 days for Year End 2012.
  • The median sold price of $212,928 for 3rd Quarter has increased 9.2% from Year End 2012.

The areas of focus in this analysis were:

  • Selling Price – The price the seller accepts for his or her house.
  • Sellers Concessions – The amount of money a seller of a house contributes toward the buyers purchase.
  • List to Sales Price Ratio – The difference between the list price and the selling price shown as a percentage.
  • Days on Market – The number of days a house remains for sale, from the listing date to the date the property is placed under contract.
  • List Price – The amount of money a home is listed on the market.
  • Median Price – The middle price of all the properties sold in the given time period.

Percent Changes: 3rd Quarter 2013 vs. Year End 2012

28403 Zip Code

  • The average selling price of $204,700 has increased 4.8% from Year End 2012 average selling price of $195,385.
  • 22% of sellers paid a concession compared to 22% for Year End 2012.
  • The average list price of $214,045 has increased 3.5% from Year End 2012 average list price of $206,807.
  • The average number of days a property remained on the market for 3rd Quarter was 109 days compared to 169 days for Year End 2012.
  • The median sold price of $173,700 for 3rd Quarter has increased 10.5% from Year End 2012.
  • Sold homes in the 3rd Quarter received 95.63% of the asking price, an increase from 94.48% for Year End 2012.

28405 Zip Code

  • The average selling price of $291,898 has increased 14.4% from Year End 2012 average selling price of $255,129.
  • 20% of sellers in 3rd Quarter paid a concession compared to 28% for Year End 2012.
  • The average list price of $304,545 for 3rd Quarter has increased 12.0% from Year End 2012 average list price of $271,880.
  • The average number of days a property remained on the market for 3rd Quarter was 129 days compared to 150 days for Year End 2012.
  • The median sold price of $192,989 for 3rd Quarter has increased 13.2% from Year End 2012.
  • Sold homes in 3rd Quarter received 95.85% of the asking price, an increase from 93.84% for Year End 2012.

28409 Zip Code

  • The average selling price of $298,753 has increased 17.5% from Year End 2012 average selling price of $254,193.
  • 31% of sellers in 3rd Quarter paid a concession compared to 35% for Year End 2012.
  • The average list price of $308,862 for 3rd Quarter has increased 17.3% over Year End 2012 average list price of $263,394. The best of all zip codes.
  • The average number of days a property remained on the market for 3rd Quarter was 103 days compared to 123 days for Year End 2012.
  • The median sold price of $247,500 for 3rd Quarter has increased 12.5% from Year End 2012.
  • Sold homes in 3rd Quarter received 96.73% of the asking price, an increase from 96.51% from Year End 2012.

28411 Zip Code

  • The average selling price of $267,337 has increased 1.2% from Year End 2012 average selling price of $264,199.
  • 32% of sellers in 3rd Quarter paid a concession compared to 42% in Year End 2012.
  • The average list price of $275,161 for 3rd Quarter has decreased .9% over Year End 2012 average list price of $277,757.
  • The average number of days a property remained on the market for 3rd Quarter was 104 days compared to 122 days for Year End 2012.
  • The median sold price of $217,500 for 3rd Quarter has increased .8% from Year End 2012.
  • Sold homes in 3rd Quarter received 97.16% of the asking price, an increase from 95.12% for Year End 2012.

28412 Zip Code

  • The average selling price of $210,184 has increased 19.4% over Year End 2012 average selling price of $176,084. The best of all zip codes.
  • 27% of sellers in 3rd Quarter paid a concession compared to 30% for Year End Quarter 2012.
  • The average list price of $213,882 for 3rd Quarter has increased 17.3% over Year End 2012 average list price of $182,304.  The best of all zip codes.
  • The average number of days a property remained on the market for 3rd Quarter was 82 days compared to 121 days for Year End 2012. The best of all zip codes.
  • The median sold price of $174,250 for 3rd Quarter has increased 13.5% from Year End 2012. The best of all zip codes.
  • Sold homes in 3rd Quarter received 98.27% of the asking price, an increase from 96.59% for Year End 2012.

28451 Zip Code

  • The average selling price of $208,439 has increased 6.6% from Year End 2012 average selling price of $195,446.
  • 23% of sellers in 3rd Quarter paid a concession compared to 27% for Year End 2012.
  • The average list price of $212,012 for 3rd Quarter has increased 6.5% over Year End 2012 average list price of $199,156.
  • The average number of days a property remained on the market for 3rd Quarter was 115 days compared to 146 days for Year End 2012.
  • The median sold price of $180,000 for 3rd Quarter has increased 5.9% from Year End 2012.
  • Sold homes in 3rd Quarter received 98.31% of the asking price, an increase from 98.14% for Year End 2012.

28480 Zip Code

  • The average selling price of $745,550 has decreased .8% from Year End 2012 average selling price of $751,320.
  • 10% of sellers in 3rd Quarter paid a concession compared to 7% in Year End 2012. The best of all zip codes.
  • The average list price of $813,103 for 3rd Quarter has decreased 2.9% over Year End 2012 average list price of $837,261.
  • The average number of days a property remained on the market for 3rd Quarter was 247 days compared to 291 days for Year End 2012.
  • The median sold price of $587,000 for 3rd Quarter has decreased 6.4% from Year End 2012.
  • Sold homes in 3rd Quarter received 91.69% of the asking price, an increase from 89.74% for Year End 2012.

28428 Zip Code

  • The average selling price of $274,869 has increased 3.7% from Year End 2012 average selling price of $265,146.
  • 18% of sellers in 3rd Quarter paid a concession compared to 17% for Year End 2012.
  • The average list price of $287,147 for 3rd Quarter has increased 3.2% over Year End 2012 average list price of $278,143.
  • The average number of days a property remained on the market for 3rd Quarter was 184 days compared to 160 days for Year End 2012.
  • The median sold price of $233,500 for 3rd Quarter has increased 1.4% from Year End 2012.
  • Sold homes in 3rd Quarter received 95.72% of the asking price, an increase from 95.33% for Year End 2012.

28449 Zip Code

  • The average selling price of $291,612 has decreased 15.5% over Year End 2012 average selling price of $345,291.
  • 13% of sellers in 3rd Quarter paid a concession compared to 21% for Year End 2012.
  • The average list price of $303,299 for 3rd Quarter has decreased 17.7% over Year End 2012 average list price of $368,454.
  • The average number of days a property remained on the market for 3rd Quarter was 130 days compared to 199 days for Year End 2012.
  • The median sold price of $250,000 for 3rd Quarter has decreased 22.5% from Year End 2012.
  • Sold homes in 3rd Quarter received 96.15% of the asking price, an increase from 93.71% for Year End 2012.

28443 Zip Code

  • The average selling price of $236,723 has increased 2.4% over Year End 2012 average selling price of $231,222.
  • 36% of sellers in 3rd Quarter paid a concession compared to 42% for Year End 2012.
  • The average list price of $240,285 for 3rd Quarter has increased 1.4% over Year End 2012 average list price of $237,038.
  • The average number of days a property remained on the market for 3rd Quarter was 114 days compared to 137 days for Year End 2012.
  • The median sold price of $225,000 for 3rd Quarter has increased .9% from Year End 2012.
  • Sold homes in 3rd Quarter received 98.52% of the asking price, an increase from 97.55% for Year End 2012. The best of all zip codes.

Eight out of ten zip codes reported an increase in the average sales price, while nine out of ten zip codes had the list to sales price ratio above 95%. Sellers are getting closer to their asking price, which is a good sign that real estate is recovering. Nine zip codes also reported fewer days on the market. For more market data that covers our entire MLS, please Click Here. Take advantage of these exceptional opportunities to invest in the American Dream of homeownership. Contact a Realtor® today!

An Analysis of information from the Wilmington Regional Association of Realtors® Incorporated, for the period Jan. 1, 2005 through September 30, 2013 – data pulled on October 12, 2013. Average sold numbers for specific neighborhoods within each zip code can be higher or lower than these stated averages. It is highly recommend that you consult a Realtor® to determine how these numbers specifically relate to your neighborhood. Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology.

DISCLOSURE: REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics. These REALTORS® are also members of WRAR as their local association. As members of the media and press, we ask that you assist us in protecting this MARK by adhering to the specific guidelines which are specified hereafter. Newspapers – please refer to Letter of the Law: Part Two – V. Special Cases, A. In News Releases to ensure proper use of term (AP and UPI style guidelines are acceptable). Media – please refer to Letter of the Law: Part Five – Protection & Compliance Procedures to ensure proper use of term (specifically Section II B).

Categories: wilmington nc real estate, wilmington nc relocation, Wilmington nc schools, Wilmington NC third quarter stats

Keep Your Kitchen From Eating Your Income | Energy Savers

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Kitchens are energy-intensive rooms thanks to modern appliances designed to make life, and eating, easier. The U.S. Department of Energy offers the following tips for cutting energy consumption in the kitchen without sacrificing convenience.• Skip the pilot light. If you’re thinking of replacing your current range or oven with a new gas model, opt for a unit with an electronic ignition. Pilot lights burn gas–and money–24 hours a day.

Check the flames. If gas is being burned efficiently by your range or oven, the flames should be blue. If they’re yellow, call in a professional to have the unit adjusted or repaired.

Clean range burners and pans. Clean burners and pans reflect heat better, thus using less energy.

Turn off early. Electric ovens retain heat for quite a while after they are turned off. By turning the heat off several minutes early, you can use the residual no-cost heat to finish cooking your food.

Use small appliances. Using a toaster oven–for foods that fit–cuts energy consumption more than 50% compared with a full-sized oven. You can also save money by using fast-cooking appliances-microwaves and pressure cookers.

Categories: Uncategorized

What is the difference between loan pre-approval and pre-qualification? Wilmington NC

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Checkbook When looking at Wilmington NC real estate, pre-approval and pre-qualification are steps you can take to line up your mortgage loan before you start house hunting. They are different, so read on:

Pre-approval:

  • is actually applying for, and getting, a conditional commitment for a mortgage loan up to a specific amount of money.
  • is usually good for 60-90 days.
  • applies, even though you might not have chosen the home you will buy.
  • often requires a loan application fee.
  • gives you bargaining power, because it tells the seller you are ready to buy and able to get financing.

Pre-qualification:

  • is the result of a lender taking a cursory look at the buyer’s income, credit history and assets.
  • states the buyer probably could afford to buy up to a certain limit.
  • does not include a loan commitment.
  • tells sellers you’re serious about buying and their house is in your price range.
  • usually costs no more than the credit report fee.

Some advantages of pre-qualification and pre-approval are:

  • A pre-approval or pre-qualification can speed closing because the paperwork for the loan has already been started.
  • You will begin learning about the financing process, and any problems that might arise can be resolved early.
  • You know in advance how much you can borrow.
  • Your offer is more attractive to the seller, because the seller won’t have to guess about whether you can afford the house.

Where do you begin when it’s time to look for a new house? Start by calling or e-mailing us with your home-buying questions. We can give you an idea of how much home you can afford to buy, then you can follow up with your local lender.

For more helpful hints, we invite you to visit http://www.cbbaker.com
Categories: Mortgages, Pre-Approval, wilmington nc real estate, wilmington nc relocation, Wilmington nc schools, wilmington real estate stats

Color Sets The Mood | Need Energy then Paint this Color

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Many studies have proven that people generally react to color in very predictable ways–especially the color of their surroundings. Of course, those reactions are not always the same for everyone; some people associate certain colors with experiences unique to themselves. On the whole, though, you can choose wall colors in your home to help evoke or enhance different reactions–in yourself and others.

Moods Colors
Coziness light shades of yellow, orange, and red
Cleanliness white
Comfort deep purples, pink
Coolness blue, white
Cheerfulness yellow
Energy darker shades of yellow, orange, red
Playfulness primary colors (bright red, blue, yellow)
Serenity green, blue, light gray, beige
Refreshment green
Hunger red, orange, brown tonews
Categories: Setting the Mood with Color


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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.