FSBO INCENTIVES: 12 Contract Options That Entice Buyers | Wilmington NC real estate

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Wrightsville Beach NC www.cbbaker.com If you’re selling in today’s Wilmington NC real estate  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.”  # www.wilmingtonnc-realestate.com

 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!

Let us know if we can help.  www.cbbaker.com

Categories: FSBO 101, Sell your home, volunteer in wilmington NC, Waterfront Wilmington NC, waterfront wrightsville beach, wilmington nc real estate, wilmington real estate stats

SOLAR AND WIND ENERGY | Alternative Energy Credits Can Mean Lucrative Deductions

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On your federal tax return, you can claim a tax credit of 30% of the cost of alternative energy equipment installed on your home, including solar hot water heaters, solar electric equipment and wind turbines. The installation must be on a property in the U.S., but does not have to be your principal home. This tax credit is available through calendar year 2016.

TAX TIP: There is no maximum dollar limit on the credit for most types of property. And, if your tax credit is more than the tax that you owe, you can carry forward unused portions of this credit to next year’s return. See IRS Form 5695 “Residential Energy Credits” for more information and to claim these credits.

Categories: Solar & Wind Energy, tax exemptions, Uncategorized

Soothing Medicine for your CONSCIENCE | Volunteer Wilmington NC Conscience Fairs 2016 | Wilmington NC real estate

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StarnewsMedia is hosting the 2016 Conscience Fair this year  10 a.m. to 2 p.m. Saturday, Jan. 23, in Cape Fear Community College’s Schwartz Center, 601 N. Front St.  If you have not selected a New Years resolution, you may  find one here at the fair.  Over 100 Non- Profits will be there with a whole list of needs.  A great time to scratch that “Volunteer” itch you have been having.  Wilmington NC is an awesome city and it is mainly because of it’s great people and giving attitude.  Join in, you will not be sorry.

More to follow on how to sign your non-profit up for the fair.

The following nonprofits have signed up for booths so far.

Coastal Enterprises of Wilmington; Don Hoover; (910) 763-3424; d.hoover@bizec.rr.comUnited Way of the Cape Fear Area;

Tommy Taylor; 9107983900; tommy.taylor@uwcfa.orgStep Up for Soldiers; Tom Russell; 910-297-4981;tom@stepupforsoldiers.org

Cape Fear Regional Community Development Corporation; Janiel Blackman; 910-762-7555; info@cfrcdc.orgNAACP Parents’ Council of New Hanover County; George Vlasits; 910-465-8871; gvlasits@gmail.com

The Bridge; Mary Ellen Bowman; 9105239687; cwjchope@gmail.comNew Hanover Regional Medical Center; Eileen McConville; 910.667.5317; Eileen.mcconville@nhrmc.org

Paws Place Dog Rescue; Peggy Durso; 330-416-4748; peggy@pawsplace.org

New Hanover County Community Emergency Response Team (CERT); Kristen Skinner; 910-798-6905; kskinner@nhcgov.com

Wilmington Area Rebuilding Ministry, Inc. (WARM); Melanie James; 910.399.7563; info@warmnc.org

Easter Seals UCP; Pat Watson; 910-790-5921 Ext. 8337; patricia.watson@eastersealsucp.com

Gifted in Rhythm & Life (GiRL); Cassandra McNeil ; 202-421-2645; cassandra.wearegrl@gmail.com

Quality Enhancement for Nonprofit Organizations; Natasha Davis; 910-962-2878; davisn@uncw.edu

Cameron Art Museum; Pam Palmer; 910-395-5999 x 1012; ppalmer@cameronartmuseum.org

Airlie Gardens; Flo Berry; 910-798-7566; fberry@nhcgov.com

Road to Recovery-Relay For Life; Yona Bar-Zeev; 9106865191; barzeevy@gmail.com

Sunrise Express Benefit Group ; Peter Morreale; 9102977868; Peter@sunriseexpress.org Animal Avengers; Jennifer Witkowski; 8472049458; jenniferwitkowski@gmail.com

New Hanover County Board of Elections; Jenna Dahlgren; 910 798 7330; jdahlgren@nhcgov.com

North Carolina Coastal Federation; Rebecca Peter; 910-509-2838; rebeccap@nccoast.org

Sunrise Express Benefit Group; Peter Morreale; 910-297-7868; peter@sunriseexpress.org

Pets for Vets – Cape Fear NC; Peggy Jones; 910-470-6337; capefear-nc@petsforvets.com

North Carolina Sorosis; Debbie Sheehan, President; (910)395-2176 or (910)612-0696; dwsheehan@hotmail.com

Wilmington Prostate Cancer Support Group, Us TOO; George W Gardner; 9107929953; wproscasupportgp@aol.com

CAT Adoption Team; Julie Wheeler; 910-228-0163; jwheeler1@ec.rr.com

Team First Book; Carol Barre; 910-200-1441; cbarre1250@ec.rr.com

The Carousel Center, Inc.; Laurene Avery; 910-254-9898; Vista@carouselcenter.org

Cape Fear Habitat For Humanity; Tim Synan, Volunteer Coordinator; 910-762-4744 x105; tim@capefearhabitat.org

Diaper Bank of North Carolina Lower Cape Fear; Leigh Robertson; 910-232-2824; mleighrobertson@gmail.com

Cape Fear Parrot Sanctuary; Ces Erdman; 910-471-2186; cesnc1978@hotmail.com

The Matthew 25 Center; Paula Schwefel; 9102597133; matthew25@bizec.rr.comAARP NC; Suzanne LaFollette-Black; 919-274-2598; Sblack@aarp.org

Cape Fear Museum of History and Science; Kitty Yerkes; 910.798.4372; kyerkes@nhcgov.com

Journey4Josh; Patty Proutey; 910-442-7721; Journey4josh@gmail.com

Kids Making It; Kim Boyce; 910-262-3452; kim@kidsmakingit.org

Canines for Service; Christy Borst; 910-362-8181; cborst@caninesforservice.org or information@caninesforservice.org

NourishNC, Inc.; Kathryn Thomas; 910-465-0995; kthomas5745@gmail.com

The Warrior Ride; Carolyn Scott ; 910 278 9919 ;…

More to come.  Now is your chance to make a difference.

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

 

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Categories: Concience Fair 2016, Volunteer in Wilmington 2016, wilmington nc weekly events

PUZZLING IT OUT Take Note Home Sellers: Tax-Free Gains

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Every year holiday dates come and go on the calendar. You’ve likely enjoyed celebrating a number of holidays with family and friends recently. Most everyone looks forward to these holidays.

There’s also one big, looming date, however, that isn’t a holiday—even though it’s marked in red on almost every calendar: Tax Day, April 15. If you’re like most taxpayers, you dread this date because it means you have to pull together a myriad of financial documents spanning the past year and make some sense of them, which isn’t a fun task.

If you own a home, you can relax because that home provides you with many financial advantages at tax time. You may not realize this, but it’s true. Homeownership is made affordable for many families because of how Uncle Sam’s tax deductions result in the federal government contributing from 10% to 39.6% (depending on your tax bracket) toward monthly home mortgage interest and property tax payments.

In this special TAXES edition of the newsletter, we have outlined some basic home-related tax facts you should be aware of. Be sure to consult a tax professional for complete information applicable to your specific situation.

 

taxTaxpayers who sell their principal residence can pocket—tax-free—as much as $500,000 in profit if they file federal taxes jointly or $250,000 if they file singly. The property must have been owned and used as their principal residence for any two of the prior five years. Homeowners can shelter the profits on the sale of a home as often as once every two years. If the two-year use and ownership tests are not met, but the home is sold because of special circumstances (i.e., health problem, job loss, etc.), the exclusion is prorated. Otherwise, gains above $500,000 or $250,000 are taxed at current capital gains rates plus may be subject to an additional 3.8% surtax, depending on income.

Note: In effect since January 1, 2013, the Net Investment Income Tax (NIIT) applies a 3.8% surtax to certain types of net investment income of individuals, estates and trusts that have modified adjusted gross income (MAGI) exceeding certain thresholds. For individuals, the MAGI threshold for a single filer or a person filing as head of household (with qualifying person) is $200,000; for married filing jointly or for a qualifying widow(er) with dependent child, $250,000; for married filing separately, $125,000.

The 3.8% tax is applied to whichever amount is less—your net investment income or the amount your income exceeds the applicable threshold. For example, if a couple’s net investment income is $200,000 while their MAGI is $300,000 ($50,000 above the applicable threshold), the 3.8% tax would be applied to the $50,000 in excess of the threshold.

For home sellers with MAGI above the applicable threshold, the 3.8% tax may be applied to your home-sale gains that exceed your home-sale gain exclusion ($500,000 for married joint filers, $250,000 for single filers). If your MAGI amount above the threshold is less than your un-excluded home-sale gains plus net income from certain other investments, you would only owe the 3.8% tax on the excessive MAGI amount (NIIT applies to the lesser of extra income or extra gains). You can still take either $250,000 or $500,000 in profits from your home sale tax-free.

TAX TIP: Income from rental property, gains from the sale of a second home and gains from the sale of an investment property would be considered part of net investment income (and possibly subject to the NIIT) to the extent that gains are not otherwise offset by capital losses. Browse to http://bit.ly/IRSNIIT for further details.

We are here to help.  Text us 910-617-0309 or 910-520-5090

kaybakerassociates@ec.rr.com

Categories: #Spring Time To Sell, Real Estate Tax Tips 2016, Uncategorized, wilmington nc real estate, wilmington nc relocation


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.