PRICING: Beat Your Competition To The Contract | Wilmington NC real estate

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PRICING:

Beat Your Competition To The Contract

To sell your home quickly for top dollar in today’s market, the best move you can make is to price the property at its current market value. When you set the right price on your home, you have an edge on your competition.

Here’s how setting the right price helps you:

You tap the pent-up demand of buyers who have already seen everything on the market and are waiting for new home listings.

You target the right group of prospects — the ones who can afford your home and are looking at similar properties.

Your home will compare favorably with other homes potential buyers see because yours will look better than overpriced homes in your category. To view this beautiful home, please visit www.wilmingtonnc-realestate.com

Perils Of Overpricing

Overpricing your home gives the advantage to your competition — the other homes on the market. The buyers you want to attract won’t see your home because they are only looking at homes listed in their price range.

Prospective buyers who do see your home realize they can get a better deal elsewhere. If it’s your home they want, they may choose to wait until you lower the price. And if you do reduce the price, other potential buyers wonder why the home has been on the market so long.

The right price is determined by the size, condition and location of your home, what comparable homes are selling for at the time you list yours, and the balance of supply and demand in your area.

Strategic Pricing

{short description of image}Setting the best price to list your home is part science, part art. There are several aspects of the home’s value we consider when making pricing recommendations.

1. Comparison. Where does your home fit in the Wilmington NC marketplace? It should be priced to be competitive with comparable homes in the same area.

2. Negotiation. The price should allow some space to make concessions in order to close the deal.

3. Return. The listing price should be set so you net the most money possible from the sale.

4. Target. Ideally, the price is adjusted to the top of a multiple listing category, so the home’s features compare favorably with lower-priced homes in the range. (If it is placed at the bottom of the next higher price grouping, the higher-priced homes will look better and sell more quickly.)

Other Factors

Unfortunately, what you paid for your home is not a factor in determining its market value. Neither is what you would like to get out of the home. Some home improvements you’ve made may add to the market value, however. Having the home in picture-perfect condition from the first day of the listing may also increase the value of your home. But mostly, these will help you sell faster, and that could mean a sale price close to your asking price.

Call us to find out more about how you can price your Wilmington NC real estate to sell it quickly. We’ll be happy to conduct a FREE market analysis to find the best price for listing your home.

Categories: certified distressed property expert, How to price a home, Price your home to sell, Uncategorized, Wilmington NC Market Statistics, Wilmington NC Neighborhoods

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

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Want to buy short sale real estate | Use a Wilmington NC Certified Distressed Property Expert |

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If you find that you are in need of help with your own home financial situation, or you would like to help someone out of their financial situation by purchasing a short sale,  rely on us to help.  Certified Distressed Property Expert can guide you through the selling and the buying process in a far more knowledgeable and timely process than doing it yourself.  Contact us NOW, by signing in below and we will contact you immediately to start the process of selling your home as a short sale or  looking for short sales to purchase. A free list of current short sales and foreclosures will be emailed to you.  Please sign in here.  http://www.cbbaker.com/shortsales.php

Categories: certified distressed property expert, Uncategorized, wilmington nc, wilmington nc convention center, Wilmington NC Market Statistics, wilmington nc real estate


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.