10 Tips Smart Wilmington NC Condominium Shoppers Should Consider

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There may be no such thing as a perfect condominium, but you can probably come close to your ideal. With the help of an experienced real estate agent, you can check out the following criteria to locate the right condo at an affordable price: For Sale Sign

Look at common areas:

  1. A condo situated in a neighborhood on the upswing, not the downslide; convenient to shopping, cultural and recreational facilities and good schools. (Even if you have no children, you may someday have a potential buyer who does.)
  2. Ample parking areas, as invisible as possible – especially from the front entrance.
  3. Whether high-rise or two-story, a structure that is sound and attractive.
  4. All public and private entrances equipped with double-lock systems. Electronic surveillance, where possible.
  5. Convenient and discretely placed laundry facilities, community rooms, saunas, locker rooms, game rooms, individual storage spaces and spots for trash.

Consider the private areas:

  1. Well-placed air-conditioning and heating units.
  2. Soundproofed walls, ceiling and floors.
  3. Well-padded, good-quality carpeting.
  4. First-rate kitchen and bathroom appliances and facilities.
  5. A kitchen equipped with an exhaust fan for cooking fumes.

If you’re thinking of looking at condominiums, e-mail us or give us a call. We’ll be glad to help show you what’s available in our area.

Categories: Buying a Condo, Uncategorized, wilmington nc, Wilmington NC homes

MILLENIALS ON THE MOVE | Starter Homes, No Longer Your Parents’ Boomerang Basement

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Millennials are broadly defined as the generation born between the early 1980s and the early 2000s. With Millennials born in 1980 turning 35 in 2015, many from the older end of this peer group are looking to buy homes and are NOT looking to continue renting or living in their parents’ home.

Actively saving. Twenty- and thirty-somethings who are serious about moving out are working hard to save up to buy property. Parents and grandparents, if in a position to give money, can help these Millennials achieve their real estate goals by giving up to $14,000 per year per individual tax-free.

Understand the value of homeownership.Millennials who are recently married, in a committed relationship or starting families are eager to have their own space. Starter homes are in demand for these groups who want to become part of the community and set down roots.

Why pay rent when I can own? Savvy young adults realize that everyone needs a place to live and it makes more financial sense to pay off your own mortgage than help pay your landlord’s.

Financing strong. The outlook for Millennials is positive as interest rates remain historically low and housing selection is generally wide. Loosening down-payment and mortgage insurance lending standards are opening more doors to homeownership for this group as well.

Competition. First-time homebuyers still are plagued by competition from investors who use all cash to scoop up desirable bargain properties. Working with a real estate pro, like us, can help buyers gain the upper hand.

Expectations. Too many buyers have unrealistic expectations for their first homes. First-time homebuyers need to realize they often will not be able to buy the type of home that their parents currently own. Many first homes need a bit of elbow grease to make them a showcase property.

Photo by imagerymajestic | freedigitalphotos

Categories: Uncategorized, Wilmington NC Neighborhoods, wilmington nc real estate, Wilmington NC real estate stats 2014

#things to do wilmington nc

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TGIF Scoop

   presented by Kay Baker Associates

www.WilmingtonNC-realestate.com

  Hello and welcome to the Scoop

Timely Tips to save on energy costs.  Turn it down | Realize Cool Savings.  The hot months are coming and that means

electric bills that we do not want to see.  Here are a coulple of money saving tips to help.  Read rest of story here.


23rd Annual Greek Festival

St. Nicholas Greek Orthodox Church

http://www.stnicholasgreekfest.com/homemedia/flyer2015.pdf

May 15 & 16, 2015 11am-10pm May 17 11AM-7PM

Free Trolley from KMart

608 S. College Road

Love Letters

May 15, 2015 to May 16, 2015

7:30 PM

Thalian Hall

www.thalianhall.com


Pro Soccer: Wilmington Hammerheads vs. Rochester

May 16, 2015
7:00 PM

Legion Stadium


Kip Moore in Concert

May 15, 2015
6:30 PM

http://www.hukaentertainment.com/event/827921

Greenfield Lake Amphitheater


Carolina Beach Street Arts Festival

May 16, 2015
10:00 AM

Carolina Beach @ Cape Fear Blvd


One Flew Over the Cuckoo’s Nest

May 15, 2015 to May 16, 2015
8:00 PM

May 17  3:00 PM

Cape Fear Playhouse

http://www.bigdawgproductions.org/

Airlie Gardens Summer Concert Series

Shine

May 15, 2015
6:00 PM

Free trolley on 5335 Oleander Dr. next to Tidal Creek Co-op

Location:

Airlie Gardens


Dinner Theater: Raney

May 15, 2015 to May 16 2015
7:00 PM

Doors open at 6:00

http://www.theatrewilmington.com/

TheatreNOW


Port City Blues

When:

May 15, 2015
7:00 PM

Presented by the Wilmington Police Dept.

2 episodes 30 minutes each then meet & greet

Location:

Wilmington City Hall
102 North 3rd Street

http://www.portcityblues.com/


Box and Cox

Comedy

May 15, 2015 to May 16, 2015
7:30 PM

May 17  3:00 PM

Ruth and Bucky Stein Theater

Thalian Hall


 

Cats

May 14, 2015 to May 17, 2015

Presented by the Childrens Theater

Hannah Block 2nd Street Stage

Friday and Saturday:7pm

Saturday and Sunday: 3pm

$12


Rims on the River

When:

May 15, 2015 to May 16, 2015

Location:

Downtown Wilmington (Front Street)

Friday: Pre-Show Entertainment at Hell’s Kitchen (Madonna Nash), Duck & Dive (Fustics), and Ziggy’s by the Sea (The Apache Relay)

Saturday: Car Show runs from 11am to 5pm. After party at Ziggy’s by the Sea (208 Market Street) with Monkey Knife Fight, The Madd Hatters, and The Phantom Playboys

Sunday: Cruise Day

http://www.rimsontheriver.com/


Coppelia: A Romantic Comedy

City Ballet

May 15, 2015 to May 16, 2015

Friday: 1 and 7pm

Saturday: 10am

Thalian Hall


Roller Derby Doubleheader

May 16, 2015
5:30 PM

www.capefearrollergirls.com

Portion of proceeds dontated to Special Olympics

Schwartz Center


  Saturdays

8:00 AM- 1:00 PM

Water Street

~

Poplar Grove Plantation

Wednesday from 8:00 AM to 1:00 PM,

~

Carolina Beach Farmers’ Market

Saturdays
8:00 – 1:00 PM

 Carolina Beach Lake Park


Time to Laugh Again –

Sean Donnelly

May 15

May 16

Showtimes 8 & 10

Dead Crow Comedy Room

PURCHASE TICKETS ONLINE. 

http://deadcrowcomedy.com


   

      Wilmington NC  Night Spots

 Friday May 8

Hans Arkai Band – Teds

Rob Ronner – Oceanic

The Apache Relay – Ziggy’s

Saturday  May 9

Dawg Gone – Scottish Rite Temple

Tyler Mckaig – Goat and Compass

David Dixon – Palm Room

Sunday May 10

Overtyme –  Bluewater


Stuffed eggplants from Lesvos island

10-12 round eggplants

1 large onion, grated
3-4 eggs
250 grams grated regato cheese, or any other sweet cheese
1 bunch of parsley
1 fresh tomato, mashed
2 spoons sugar
Salt
Bechamel Sauce or hard tack for placing on top of each eggplant
Olive oil
Wash eggplants, score them in the middle and boil until soft. Strain them, let them cool and cut them a long side. Remove with the spoon the inner part of each eggplant and leave them only with their skin. Keep half of the inner part of the eggplant and whiz it in a blender to make a puree.
Boil in a saucepan the onion and when it softens pour some olive oil. Add the eggplant puree, parsley, tomato, sugar and salt. Stir well and remove from heat after a couple of minutes.
Beat the eggs and pour over the mixture. Add the cheese and stir the mixture well. With this mixture you should stuff each piece of eggplant.
When you stuff all the eggplants cover them with béchamel sauce or with hard tack.
Baste a baking pan with oil, place the eggplants into it and bake for 30 minutes in moderate temperature.

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Categories: Uncategorized

Today’s Homes Are Built And Modified “Eco”nomically

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www.WilmingtonNC-realestate.com

As energy prices increase and the nation searches for cheaper renewable resources, the housing industry has been improving the way it builds and remodels homes. Today’s homes and building materials are more environmentally responsible than ever–conserving resources, using recycled materials and building for longevity.

The National Association of Home Builders reports the following “green” innovations. Be sure to look for them if you’re shopping for a new home or consider installing them if you’re remodeling or repairing a home you already own.

More-durable roof coverings

such as steel and fiber-cement

More and better insulation

in walls and attics, conserving energy, lowering utility bills and reducing pollution related to energy production

OSB (Oriented Strand Board) and laminated fiberboard

made from smaller younger trees, replacing plywood on roofs and board sheathing in walls, both made from larger, older trees

Greater use of carpet, sheet vinyl and laminates

rather than wood flooring that taxes lumber supplies

Foundation insulation

to reduce energy loss while providing more-comfortable floors

Insulated exterior doors and windows with insulating and low-E glass

to keep homes more comfortable and energy efficient

Vinyl siding and fiber cement siding

, reducing the use of cedar, redwood and other wood products

 

  • High-efficiency heating, cooling, and water-heating equipment

to cut energy consumption

 

  • Water-saving appliances and plumbing fixtures

to reduce water use. They also require less energy to heat water

Factory-built components

, such as trusses and pre-hung doors, resulting in more-economical use of materials than cutting wood on the job site

  • Recycled plastic “lumber”

instead of weather-resistant woods (e.g., redwood) for decks, porches, trim and fencing

High-efficiency refrigerators

that use less energy and operate using refrigerants that have less potential impact on the ozone layer

Passive solar designs

using the sun’s “free” energy to help heat homes

Xeriscaping

, which employs native plants that can thrive with little or no extra watering

Tree preservation

around homes to provide shade, reducing summer energy costs.

Thank you for viewing – kaybakerassociates@ec.rr.com

Categories: Wilmington NC homes, Wilmington NC Neighborhoods

Rehab Junkie? Buying A Fixer-Upper? An FHA 203k Loan Might Be Right For You

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jones 91011 278You’ve found your dream home. Only one problem: Its foundation is sinking and it needs a new roof. The purchase price is right, but you’re worried that you’ll never be able to afford all those repairs.

Here’s some good news, though: The Federal Housing Administration (FHA) offers a loan product designed for buyers who want to purchase and renovate a fixer-upper.

An FHA 203k loan lets you borrow enough money to not only buy a fixer-upper, but to repair it, too. So if your home costs $150,000, and contractors estimate that you’ll need $50,000 to modernize an outdated kitchen and repair a leaking roof, you’ll be able to borrow enough to both buy the home and fund repairs.

Here’s how it works: Say you come up with a down payment of $5,250 on the $150,000 home. That would leave you with a mortgage loan of $144,750 with a typical loan product. With an FHA 203k loan, though, you can add in contractors’ estimated cost of repairs. You, then, could borrow $194,750 to cover both the purchase of the home and the needed repairs.

If you’re in the market for a home that needs some TLC, give us a call. We’re happy to discuss the FHA 203k program with you. We can help you determine if the program is a good fit for you and the home you want to buy.

 

Categories: Fixer Upper Loans, Sell your home, Wilmington NC homes, Wilmington NC Market Statistics, Wrightsville Beach NC

HEAVENLY Why You Don’t Need An Angelic Credit Score To Get A Loan Today

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www.WilmingtonNC-realestate.com

Wilmington NC Real estate

You can get a Wilmington NC mortgage loan today even if your past financial habits have been more devilish than angelic.Here’s a look at the steps you can take this year to boost your odds to qualify for a home loan, even if your three-digit credit score isn’t as sky-high as you’d like.

Boost your income, cut your debts: The most important guideline associated with the new Qualified Mortgage (QM) rule might be the one relating to your monthly income and debts. According to the QM rules, a mortgage can only be considered a qualified one if borrowers’ total monthly debts—including their estimated new mortgage payment—equal no more than 43% of their gross monthly income.

So if you want to convince lenders that you’re a good risk, work to improve your debt-to-income ratio. You can do this by either boosting your monthly income or eliminating some of your monthly debts. The lower this ratio is, the more attractive you’ll look to mortgage lenders, even if your credit score isn’t perfect.

Consider An FHA Loan: A mortgage loan insured by the Federal Housing Administration (FHA) does come with some extra costs. But it also comes with some big benefits for credit-challenged consumers. You can qualify for an FHA loan even if your FICO credit score is as low as 500. Of course, a higher score is better. If your score is at least 580, you can take out an FHA loan with a required down payment of just 3.5% of your home’s final purchase price. If your credit score is under 580 but at least 500, you can still qualify for an FHA loan, but you’ll need a down payment of at least 10% of your home’s purchase price.

Your credit score makes a big difference in how much down payment is required. Consider a home that costs $150,000. A down payment of 10% will cost you $15,000. One of just 3.5%, though, will cost you a much more affordable $5,250.

Be Willing To Pay More In Interest: Mortgage lenders generally reserve their lowest interest rates for those borrowers whose FICO credit scores are 740 or higher. If your score is lower, though, this doesn’t mean you won’t qualify for a mortgage loan, but you will have to pay a higher interest rate. If your score is 740, for example, you might qualify for an interest rate of 4.25% on a 30-year fixed-rate mortgage loan of $200,000. But if your FICO score is just 640, you might have to take an interest rate of 5.5%—or higher—on the same loan. A higher interest rate will mean a higher monthly mortgage payment.

If your interest rate on that 30-year fixed-rate loan of $200,000 is 4.25%, you’ll pay about $983 each month in interest and principal. (This doesn’t include any money you’ll pay each month for property taxes and homeowners insurance.) If your interest rate on the same loan stood at 5.5%, your monthly payment—minus insurance and taxes—would be about $1,135.

Boost That Score: If your score is too low, of course, you will struggle to qualify for a home loan. But you can take steps to boost that score. Pay all your bills on time. Reduce your credit-card debt. If you gradually build a solid credit history, your score will rise. Just be patient. Boosting a credit score isn’t complicated, but it does take time. Expect to spend at least nine months to move your weak credit score high enough so that you’ll look like an angel to mortgage lenders.

Categories: Mortage options, Mortgage, Mortgage 101, Mortgage ideas, Mortgage options, Mortgage points, Mortgages, Uncategorized, wilmington nc real estate, Wilmington NC real estate stats 2014


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.