Goal :: Home Sweet Home :: 10 Inside Tips

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10 Inside Tips For Serious Home Buyers In The Game Right Now

“Neither snow nor rain nor heat nor gloom of night….” goes the postal creed. Serious Wilmington NC home buyers can live by the same mantra. Winter may slow down some home buyers (and sellers), but serious sellers and buyers continue to make deals to successfully transfer homes year ’round.

The home buying game goes on all throughout the winter months, and the selling side is ready and poised for action. Local sellers are motivated right now to move on to their next homes and are eager to engage with interested local buyers — no matter the season on the calendar or what the weather does.

Are you ready to score a home? Home buying moves aren’t complex if you have great coaching from real estate professionals like us. We can help you play the right strategy that will win you a home during the winter months. Here’s why. This time of year, you’ll have fewer buyers to compete with, less pressure to buy quickly, greater overall savings, stellar homes to view, faster closings and end-of-year tax benefits that all add up to a great final score. After you “win” your home, you’ll be able to look forward to the warmer months when you can enjoy it with friends and family!

Keep reading to discover 10 top reasons why right now is a great time to get off the sidelines and reach your goal to buy a home!

1. Less Competition. Think about it: How many people are out looking at homes during the winter and the busy holiday season? Buyers this time of year are usually those who absolutely need to make a move. Therefore, there is often less competition and fewer chances of a bidding war occurring than during the hyper-active selling/buying seasons of spring and summer.

2. Better Deals. With less competition, sellers are likely to consider your offer more seriously — because they’re seeing fewer buyers. Those same sellers are serious sellers that need to sell their home now. As a result, you might be able to negotiate a better price or terms than at other times of the year. With fewer buyers shopping, select home prices may be lower to attract a sale. The typical trend is for home prices to be at the lowest point of the year in December.

3. Overall Savings. Besides a lower home price, you may pay less for moving and repair services since winter is not prime moving time and contractors also aren’t as busy as during warmer months.

4. Interest-Rate Break. Mortgage interest rates are sometimes lower in winter than in spring when demand can push rates higher. You can increase your buying power when mortgage costs are lower.

5. Easy On The Eyes. Sellers often have their homes looking their best during the winter when more family gatherings, holiday celebrations, big meals and increased at-home entertaining takes place. Sellers’ homes are shining for their holiday and seasonal activities, and their homes are sparkling clean and showcased for your viewing pleasure.

6. Quick Closing. Because winter months have fewer home sales, your mortgage lender might not be as booked, resulting in a quicker closing/settlement — helping you and your seller move on and get settled without a lot of thumb-twiddling.

7. Tax Benefits. Closing/settling on your home by the end of the calendar year could help your tax situation. Various settlement charges may be claimed on this year’s tax return as deductions that can lower your federal tax bill. Sellers may also be anxious to sell and take advantage of their own tax benefits during the current tax year.

8. No Pressure. If you’re a first-time buyer or renter, relish the fact that you have a completely flexible schedule to purchase a new home. You don’t have to make rash decisions based on selling your existing home and needing to find a new one quickly. Winter is a great time to look leisurely at homes and make a solid decision based on your schedule alone.

9. ‘Tis The Season. With winter holidays upon us, many people are in a better mood than during other times of the year. Sellers who are motivated and enjoying or looking forward to holiday festivities can be easier to work with, more responsive and more open to negotiations, especially if their buyer is open to closing after the holidays.

10. Local Experts. We know that every neighborhood is different. Let us help you find a home during this winter season — or any time — and show you what makes our area great to live in. Contact us at any time and we’ll help you secure a home that meets your needs and finances.

The same goes for Selling Your Home, your competition is lower as well.  Call us with any questions.

Categories: Buy a Vacation home, Buying Wilmington NC real estate, Relocation Wilmington NC, Selling your home, Top Ten Buyer Tips, wilmington nc relocation, Wrightsville Beach NC

Wilmington NC Waterfront Living Is The Best…

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Wilmington NC Waterfront Living

Waterfront living in Wilmington NC equals or surpasses any area in the Southeast and If you enjoy boating as much as many of us do in Southeastern NC, you definitely know we have one of the best boating locations in the nation. Wilmington, with the Cape Fear River to the West and the Atlantic Ocean to the East, has it all, from the River to the Sea. Read the rest of this entry

Categories: Buying Wilmington NC real estate, Wilmington NC Neighborhoods

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

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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.

Categories: Buying Wilmington NC real estate, wilmington nc real estate, wilmington real estate stats, Wrightsville Beach makes Top 20 Surf Towns

So you want a boat slip | Wilmington NC Real Estate from $18,900

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Wilmington NC Real Estate, Wilmington NC Homes, Wrightsville Beach Homes.

Are you tired of having to haul your boat down to the public boat ramps in Wilmington NC and have to wait in line to put in?  The price of boatslips in the area are at a all time low.  Protected waterfront boatslips can be bought for as little as $39,000.  Now is the time to invest in Wilmington NC real estate, be it waterfront at that!  Alot of the local marinas have amenities that include  showers, laundry,pool, clubhouse, and a  dock master.

Here are a list of boatslips on the market now in Wilmington NC. from $18,900  BOATSLIPS HERE

Here are a list of local marinas.

Marinas and Yacht Clubs Wilmington, NC

Atlantic Marine
101 Keel St.
Wrightsville Beach, NC 28480
910-256-9911
atlanticmarinesales.com

Atlantic Yacht Club
130 Short St.
Wrightsville Beach, NC  28480
910-256-8100
marinemax.com

Bennett Brothers Yachts
1701 JEL Wade Drive
Wilmington, NC 
910-772-9277
bbyachts.com

Bradley Creek Marina
1418 Airlie Road
Wilmington, NC  28403
910-392-2584
bradleycreekmarina.com

Bridge Tender Marina
1418 Airlie Rd
Wilmington, NC 28403
910-256-6550
bridgetendermarina.com

Canady’s Yacht Basin
7624 Mason Landing Rd
Wilmington, NC  28411
910-686-9116

Cape Fear Yacht Sales
7722 Market St.
Wilmington, NC  28411
910-799-5756
capefearyacht.com

Carolina Beach State Park Marina
1010 State Park Road
Carolina Beach, NC  28428
910-458-7770

Carolina Marina and Yacht Club
1512 Burnett Road
Wilmington, NC  28401
910-790-0172
carolinamarinaandyachtclub.com

Carolina Yacht Club
401 South Lumina
Wrightsville Beach, NC  28480
910-256-3396

Creekside Yacht Club
6334 Oleander Drive
Wilmington,NC  28403
910-350-0023
creeksideyachtclub.com

Dockside Marina
1308 Airlie Road
Wilmington,NC  28403
910-256-3579
thedockside.com

Federal Point Yacht Club
910 Basin Road
Carolina Beach, NC  28428
910-458-4511

Harbour Point Marina
511 Atlantic Ave.
Carolina Beach, NC  28428
910-458-8415

Inlet Watch Yacht Club
801 Paoli Court
Wilmington, NC  28409
910-392-7106
inletwatch.com

Joyner Marina
401 Marina St.
Carolina Beach, NC  28428
910-458-5053
joynermarina.com

Mason’s Marina
7421 Mount Pleasant Drive
Wilmington, NC
910-686-7661

Masonboro Yacht Club
609 Trails End Rd
Wilmington, NC  28409
910-791-1893

Pages Creek Marina
7000 Market St
Wilmington, NC  28411
910-799-7179
pagescreek.com

Point Harbor Marina
1550 Point Harbor Road
Wilmington, NC
910-763-7820

Scotts Hill Marina
2570 Scotts Hill Loop Rd.
Wilmington,NC  28405
910-686-0896

Seapath Yacht Club
330 Causeway Drive
Wrightsville Beach, NC  28480
910-256-3747
seapathmarina.com

Wilmington Marine Center
3410 River Road
Wilmington,NC
910-395-5055

Wrightsville Beach Marina
6 Marina St
Wrightsville Beach, NC  28480
910-256-6666
wrightsvillebeachmarina.com

Watermark Marina of Wilmington
4114 River Road
Wilmington,NC  28412
910-794-5259
watermarkmarinas.com

Categories: Buying Wilmington NC real estate, Investment Property Wilmington NC, marina's in Wilmington NC, wilmington nc real estate

So You Want To Buy A Foreclosure? | Understand The Three Steps | Wilmington NC real estate

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FORECLOSURE:
What Every Buyer Must Know

 In today’s market, you’ll hear lots of terms used to describe “bargain”
properties, distressed, short sale, pre-foreclosure, auction, REO,
bank owned, foreclosure, foreclosed, and more. Confused?
That’s understandable. Some of these terms are interchangeable,
some are not, and some cover a whole range of bargain property types.

 

Foreclosure Overview:

To understand the terms, it’s important to understand the three stages of foreclosure:

  1. Pre-foreclosure stage. This stage begins when the homeowner falls behind on home-loan payments (or sometimes other terms of the loan). Lenders may wait for a second, third or even fourth missed payment before sending the homeowner a Notice of Default — which becomes public record. The homeowner then has a given period of time to respond to the notice and/or come up with the outstanding payments and fees — sometimes by selling the home in a pre-foreclosure sale, also known as a distress sale. (If a judicial procedure is required, it occurs after the notice of default is given.)One type of pre-foreclosure or distress sale is a short sale — when proceeds from the sale of a home are less than the amount of mortgage still owed to the homeowner’s lender. A lender-approved short sale (or short payoff) occurs when the homeowner’s lender agrees to accept the proceeds of the home sale as satisfaction of the mortgage owed, even though proceeds are less than the outstanding debt.
  2. Foreclosure stage. At this stage, the former homeowner may or may not have been evicted — depending on state law — when the lender puts the home up for public auction (after a judgment of foreclosure in those states requiring judicial procedure).If the home sells at the foreclosure auction, (sometimes called a sheriff’s sale, trustee’s sale or step sale) money from the sale is used to pay off the costs of the foreclosure, taxes and other prior liens, service charges and advances, interest and principal on the mortgage, late charges or fees, and liens recorded after the first mortgage. Any amount left over is paid to the borrower (former homeowner). When proceeds from the sale are less than the various amounts owed, the lender may be able to hold the borrower responsible for the difference (deficiency judgment).
  3. Post-foreclosure stage. When a property that does not sell at auction — either because no one bid on it or because bids did not meet the lender’s or agency’s minimum price — the property becomes real estate owned (REO) by the lender or government agency that guaranteed the loan (such as FHA/HUD, VA, etc.). You’ll also hear the term bank-ownedapplied to these properties, whether they are owned by an actual bank or some other type of lender. (Be aware: The term REO also applies to properties purchased by companies from employees who didn’t sell their home on the market before relocating, which is to say that not all REOs are foreclosed properties.)Once the lender or agency has repossessed a property following a failed auction attempt, the home is put back on the market. Most REO properties are listed for sale through real estate brokers and placed on the Multiple Listing Service.

 

At this stage, the foreclosure process is complete, and the property may be accurately described as a foreclosed property, while in the first two stages the home is in foreclosure and should be referred to as a foreclosure property. (You’ll find, however, that real estate writers and others sometimes misuse this terminology; be sure to ask if you are unsure what stage of foreclosure a particular property is in.)

Here is a list of current foreclosures in the Wilmington NC real estate area  Click Here for List…

For a list of Short Sale Homes Click Here….

To search the Wilmington NC MLS, please visit www.cbbaker.com

 

Categories: Buy a foreclosure in Wilmington NC, Buying Wilmington NC real estate, Wilmington NC Market Statistics, wilmington nc real estate, wilmington nc weekly events, worlds largest christmas tree, Wrightsville Beach NC

Peace of Mind | Buy a 2-10 Home Warranty | Wilmington NC real estate

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Whether you are buying or selling a home, it is a good idea to purchase a home warranty to give you peace of mind.  If you are selling, you can use the warranty as an incentive for the buyer.  I would highly recommend purchasing a warranty when you purchase Wilmington NC real estate, as this gives you 1 year to make sure things are working as they should.  Of course, a home inspection should be done before you purchase to let you see what exactly you are buying.  Coldwell Banker Sea Coast Advantage Realty uses 2-10 Home Buyers Resale Warranty.  If a seller is purchasing a warranty, we can start the warranty at the time of actually listing the house.  The seller is covered during the listing agreement time, and for a extra fee the Seller’s AC/Heat Pump are covered as well.

Provided at the closing of your home or purchased directly from 2-10 HBW*, this warranty covers normal wear and tear to your home’s major systems (furnace, hot water heater, air conditioner, plumbing and electrical systems) and major appliances (refrigerator, oven, dishwasher, built-in microwave, disposal, trash compactor). Complementary to your homeowner’s insurance, your 2-10 HBW warranty covers the repair or replacement of the most frequent and likely home system and appliance breakdowns.

When a covered system breaks down, simply place a claim online or call their toll-free number, and we will immediately dispatch a contractor to make the repair. You pay the contractor a small service fee and we pay the rest for all covered items. You don’t have to hassle with finding a contractor or worry about negotiating the cost of the repair work. In the event that a covered system or appliance cannot be repaired, we will replace it with a system or appliance of comparable or better quality. It’s the perfect solution for today’s busy homeowner.  There are warranty plans for existing homeowners who are not planning on selling as well.

For more information please visit http://www.cbbaker.com/pages.php?page=152

 

Categories: 2-10 home warranty, Buying Wilmington NC real estate, Figure Eight Island, Landfall, Porters Neck Plantation, Wilmington NC Neighborhoods, wilmington nc real estate, worlds largest christmas tree, Wrightsville Beach NC

Choosing A Contractor | Homework First | Wilmington NC real estate

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Thinking of updating your kitchen? Re-doing your bath? Adding on to your home? Most likely, you’ll need to hire a home improvement contractor.

You can start your search for a contractor by talking to friends, family members or neighbors who have used a contractor recently. Ask if they would recommend the person or firm they used. To verify each contractor’s reputation, ask these questions:


• Did the contractor begin and end on time?
• Did the contractor try to minimize disruption of your family? How?
• How do you score the contractor on both technical expertise and finished appearance of the project?
• Did the contractor work neatly and clean up at the end of each workday?

Once you have a list of prospective contractors, do some research on your project by reading do-it-yourself magazines and manuals. You don’t need to know how to do the job yourself, you just need an idea of the work involved.

Now it’s time to ask at least three contractors to bid on your project. As you talk through the proposed improvement, ask what special or unexpected problems could arise and ask how the contractor would resolve them. If a contractor is vague or dismisses your question, scratch him off your list.

When adding rooms, rearranging the kitchen, moving walls or performing other major improvements, spend the extra money for a design professional. Be sure anyone who works on your house is licensed and insured.

Once you receive the bids, review them carefully. Don’t automatically go with the lowest bidder. You may get a better job or the contractor may use better materials when you pay a little more.

Write the contract to include exactly what the project will entail, how much it will cost, and at what points payments will be made; how changes in plans will be handled; the quality of materials to be used; the beginning and ending dates and sanctions for tardiness.

Keep on top of the project, checking progress and the quality of workmanship. If you are unhappy with something, talk to the contractor immediately. Make sure all changes from the original contract are made in writing and keep in mind that changes may affect the schedule and delay completion.

If possible, have your chosen contractor do a small job first, so you can learn first-hand the quality of work and what it’s like to have that person temporarily take over a part of your home.

We have concierge list of contractors in the Wilmington NC area that we would be glad to share with you.  Just email me at kaybaker@ec.rr.com and we will get it right out to you.

Have fun with your project!

Categories: Buying Wilmington NC real estate, contractors in wilmington nc, wilmington nc, wilmington nc convention center, Wilmington NC Neighborhoods, wilmington nc real estate

Why ReFi? | Five Great Reasons To Refinance Today | Wilmington NC real estate

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There are plenty of reasons for a homeowner to refinance a current mortgage. Lowering a monthly payment is probably the most popular reason, but there are others. Do you want to pay off your loan more quickly? Has your credit rating improved since you bought your home, allowing you to now get a better rate? Do you want to put some of your equity to work in other ways? Each reason leads to a different way of thinking about refinancing.Many homeowners start thinking about refinancing when the current interest rate is lower than their mortgage-loan rate. Traditionally, homeowners have been advised to follow the “2-2-2 rule” when considering refinancing. This rule of thumb says your new interest rate should be at least 2 percentage points below your current rate. You should have lived in the home at least 2 years. And, you should be planning to stay at least 2 more years.

Although the “2-2-2 rule” is good advice in many cases, you should decide for yourself (with some professional advice!) what’s best in your situation. If the market doesn’t allow you to refinance into a lower-rate mortgage, you may still have a reason to change loans.

Some homeowners want to extend a 15-year loan into a 30-year plan to lower their monthly costs. Other homeowners who don’t plan to move for 5 years or more may benefit from a new mortgage even if it is only 1 percentage point lower than the old one.

Imagine you had a $200,000 mortgage at 8% over 30 years with a payment of $1,467 per month. If the loan amount is down to $175,500 (after making payments for about 10 years), you could use one of these strategies to lower your payment:

1. Lower Rate.

One method is to seek out a lower interest rate for the balance of $175,500. By lowering the interest rate to 7%, but maintaining the current payment schedule (20 more years of payments in the above example) your payment would drop to about $1,361 and the loan would still be retired at the original 30-year mark.

2. Longer Term.

Another way to lower your payment would be to prolong the length of the amortization. For instance, by getting a new 30-year mortgage for $175,500 at the 10-year mark, your payment would drop to $1,167 (at 7%).

3. Cash Out.

Some homeowners pull equity out of their properties for home improvement, vacation, college costs, big-ticket purchases or to consolidate debt. Especially when interest rates are rising or stable, cashing-out is often the primary reason for refinancing.

4. Change Loan Type.

Other folks refinance in order to change the type of loan they are paying off. Some homeowners grow uncomfortable with the variability of adjustable-rate mortgages and would rather have a fixed-rate loan. Others need to reduce monthly expenses and choose an adjustable-rate loan to lower their payment.

5. Shorter Term. The rates are still around 4%

Sharpen Your Pencils!
Determining how much you can afford to finance in today’s market requires careful consideration and a bit of math. If you are thinking about refinancing an existing mortgage or buying a home, use these charts to help you plan. Then call us, so we can answer your questions and help you take the next step!
Monthly Payment: How much can you afford?
Lenders will usually allow you to spend 28% of your total–or gross–monthly income to make mortgage payments of principal, interest, taxes and insurance. The table below shows how much 28% is at various income levels.
Annual Income Gross Monthly Income Affordable Monthly Payment**
$20,000 $1,667 $467
$25,000 $2,083 $583
$30,000 $2,500 $700
$35,000 $2,917 $817
$40,000 $3,333 $933
$45,000 $3,750 $1,050
$50,000 $4,167 $1,167
$60,000 $5,000 $1,400
$70,000 $5,833 $1,633
$80,000 $6,667 $1,867
$100,000* $8,333 $2,333
*For incomes over $100,000, add together the two appropriate columns.
Loan Amount: How much can you plan to borrow?
Once you know how much you can afford monthly, use this table to estimate how much you can borrow. Add your down payment to get an approximate house-hunting price range.
Monthly Payment** 5% 7% 9% 11%
$467 86,995 70,194 58,040 49,038
$583 108,603 87,630 72,457 61,219
$700 130,399 105,216 86,998 73,505
$817 152,194 122,802 101,539 85,791
$933 173,803 140,237 115,956 97,971
$1,050 195,598 157,823 130,497 110,257
$1,167 217,393 175,409 145,038 122,543
$1,400 260,797 210,431 173,995 147,009
$1,633 304,201 245,453 202,953 171,476
$1,867 347,791 280,625 232,035 196,047
$2,333 434,599 350,668 289,951 244,980
**Principal and interest only; taxes, insurance and any homeowner fees not included. These will raise your monthly payment and reduce the amount of principal and interest and total loan amount you can afford. Loan amounts are based on a 30-year fixed-rate mortgage. For incomes over $100,000, add together the two loan amounts and add your down payment.

Yet another reason for refinancing is to shorten the term of your current mortgage. If your income has grown substantially and you’re happy living in the same home, you could reduce the length of your loan by simply refinancing to a shorter-term mortgage with a smaller balance but higher payment. Using the above example again, a $175,500 loan paid off in 15 years at 8% would cost you $1,677 each month (about $200 more than for the original loan), but the loan would be paid off relatively quickly–saving you thousands of dollars in interest payments.
Whatever you decide, be sure to weigh the costs of refinancing carefully. A lower monthly payment may help your cash flow, but is it going to cost you too much up-front to make sense? Be sure you’ll live in the home long enough to recoup the expenses associated with refinancing–points, closing costs and fees.

Categories: Buying Wilmington NC real estate, Refinance, Uncategorized, wilmington nc real estate, Wilmington nc schools, worlds largest christmas tree

Great Reasons to Buy a Vacation Home | Wilmington NC real estate

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We’ve all thought about it while lying on the beach or inhaling the fresh mountain air: “Why don’t we buy a vacation home?” Owning a vacation home can be a good decision if you buy smart.

They provide another investment that includes a mortgage-interest tax deduction.

Whether you rent it out or not, you can deduct the mortgage interest as long as you use the home more than 14 days or more than 10% of the number of days the home is rented annually at a fair rental, whichever is longer.

Qualified second homes include houses, condominiums, cooperatives, mobile homes, house trailers, boats or similar properties that have sleeping, cooking and toilet facilities.

Here’s an interesting twist on the mortgage interest deduction: If you take out a home equity loan on your first home and use the funds to acquire your second home, the interest on the home equity loan is also deductible. That’s three mortgage interest deductions off your tax return!

Consult IRS Publication 936 for a complete discussion of how mortgage interest for a second home is deductible.

You can purchase your future retirement home in Wilmington NC now, at today’s prices.

Though your second home may be a vacation home now, if you buy right you can convert it into your principal residence later.

They can produce their own income.

Renting out a second home occasionally or often can help you pay for the property with OPM (other people’s money). Check with your tax advisor about how much of the upkeep and management expenses are deductible against your income.

Buying Tips From The Experts

Buy something within a reasonable distance.

Be sure you can get to your vacation home in a short amount of time. Before you make a final decision, travel the distance on a typical Friday afternoon to see whether the drive will be too much to deal with after a long work week.

Rent in the area several times before you buy.

If you really like a particular area, check it out during different seasons. This way you get to know the climate, people, pests, traffic patterns and other regional particulars first-hand.

Consult other owners.

Check with owners of nearby properties about public and private facilities, special maintenance required due to location or weather, the social climate, local development plans and prevalence of crime. Learning about the lifestyle of the area may help you narrow down your choices.

Think home first, investment second.

Although you may be able to generate rental income from your vacation home, it may not cover your ownership costs. (If you want to try real estate investments, give us a call to look at properties in the Wilmington NC  local area.)

Consider different styles of properties in a vacation area.

To minimize upkeep and have a more secure environment, a condo may be preferable to a single-family home. If you plan on converting it to a retirement home, consider what type of home you’ll want as a full-time residence.

Here are some of the current Wilmington NC real waterfront/waterview real estate  in our area.

Priced from 100,000 – 200,000  Click here

Priced from 200,000- 400,000  Click here

Priced from 400,00 -600,000  Click here

Priced from 600,000 – Click here

To search all properties please visit www.cbbaker.com

Categories: azalea festival, Buying Wilmington NC real estate, certified distressed property expert, Economy, Figure Eight Island, Financing a Home Purchase in Wilmington NC, Landfall, Porters Neck Plantation, QR codes real estate, Uncategorized, wilmington nc, wilmington nc convention center, Wilmington NC Market Statistics, Wilmington NC Neighborhoods, wilmington nc real estate

April 2011 Wilmington NC real estate Statistics

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May and June are usually some of our biggest months when it comes to home sales. Our pending index is climbing; you can see our mountain tops when you look at the sold units, now go and look at the chart you will see the mountain peaks during the summer season.

Economically – Our congress will be working on our current debt ceiling? Do they raise it? Other areas are slow to come around, inflation is trying to work its way back in while employment numbers are looking better each month. Unemployment rose back up to 9.0%. Hopefully we will come out of this economic funk real soon; this current economic crisis has affected so many lives and financial interests of individuals as well as companies.

April just stole all our gains for March with a decrease in sold homes and average sales price.  The average sold price dropped to $206,698 a 14.9% loss over last month. Our sold units hit 383 a large decrease from last month. Sold units are down 33 units from last month and up 52 from April 2009. One point to keep in mind is that last year this time we were still dealing with the First Time Homebuyers Tax Credit. In the month of April we saw an increase of 40 homes in our listing inventory, we have 4,887 homes on the market as of May 1st. This adjusted our month’s supply with just over 12.7 months a slight increase from last months 11.8. With the low sales in April this affects our month supply. Our average list price has started the year under $350,000 range; we are currently at $349,067. In April sellers paid concessions in about 30.0% of all the month’s transactions about the same as last month. Our average days on the market decreased to 148 days – we are now talking 5 months on the market. The list to sold ratio has increased a little to 93.8% this number needs to continue to get better. The number of homes that sold in 15 days or less continues to remain very low, 8.6% of April sold homes. The 30-year fixed-rate mortgage (FRM) averaged 4.63% with an average 0.7 points for the week ending May 12, 2011. We have seen decreases the last 5 weeks. Call me so I can show you or your clients how they can get the benefit of these rates. Have a great week and let me know what I can do to help you and your clients.

Despite all the media comments about our markets we are still lending money for residential mortgages. If a client has income and credit and some sort of down payment; they can get a mortgage. It goes to the basic three C’s – Capacity, Collateral and Character.

For the complete Inventory update and graphs read more here…

Source – David Flory Cunningham Mortgage

Categories: Buying Wilmington NC real estate, Uncategorized, Wilmington NC Market Statistics, Wilmington NC Neighborhoods, wilmington nc real estate, wilmington nc weekly events


Kay Baker | 1001 Military Cutoff Rd. | Ste 101 Wilmington, NC 28405 | kaybaker@seacoastrealty.com | 910-232-0363 | Fax: 910-256-0473

Copyright © 2014 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.