Wilmington NC Real Estate Guide

Nobody wants to carry two mortgages on two homes at the same time. Sometimes, however, an overlap between buying a new home and selling the old one occurs. A bridge loan (also, “gap” or “swing” loan) can defeat the blockade, take the pressure off the monthly budget and provide down payment money that will make everything move along more smoothly.

• Know what to expect.

A bridge loan is a short-term loan for which the equity in your old home (and sometimes in your new one) serves as collateral. Various lenders charge different interest rates – often 1 or 2 percentage points above the current prime rate, or a bit higher than the current regular mortgage rate. Depending on lender’s requirements (appraisal, title search, etc.), closing costs can be anywhere from 0.5% to 1.5% of the loan amount.

• Pay off when you sell.

You may pay the loan off when you sell your home, or in monthly or quarterly installments. If your home does not sell within the specified term (often 6 months or a year), the loan is usually renewable.

Bridge loans are only one of the many tricks in our bag to help you smooth your move. If you’re planning to move soon, contact us by e-mail or phone. We’ll be happy to help.

Coldwell Banker real estate continues to receive awards for their innovative marketing especially in the Wilmington NC real estate market.  The Latest award was for “On Location” YouTube Channel, for the Real estate Category.  Below is the letter from Corporate headquarters for Coldwell Banker Realty.

Coldwell Banker Sea Coast realty and Kay Baker and Associates continue to strive for new ideas and creative outlets for marketing of Wilmington NC real estate.  Visit http://www.cbbaker.com/

COLDWELL BANKER REAL ESTATE WINS COMMUNICATOR CREATIVE EXCELLENCE AWARD FROM INTERNATIONAL ACADEMY OF VISUAL ARTS

Brand’s ‘On Location’ YouTube Channel Honored in Real Estate Website Category

PARSIPPANY, N.J., (July 7, 2010) – The International Academy of the Visual Arts has named Coldwell Banker On Location, the brand’s YouTube channel, a recipient of this year’s Communicator Awards for Creative Excellence in the real estate website category. The category honors the best site for the sale or rental of residential or commercial property.

“We were the first national real estate brand to add streaming video to our website. Today, our agents across the globe have posted more than 15,000 videos to our On Location channel,” said Mike Fischer, chief marketing officer for Coldwell Banker Real Estate LLC. “The most exciting part of On Location is that we have only just begun – there’s a lot more to come.”

On Location has been rated among the top 10 most-viewed brand channels on YouTube. In April, just 11 months after launching On Location, Coldwell Banker announced it had received over 1 million views. The site was launched in May 2009 and was produced in collaboration with FD Kinesis.

“Home buyers would much rather see a home than only read about it,” Fischer said. “Our On Location videos empower them to get a feel for a home, a community or a real estate professional that they could not get from photos or a text description alone. Equally important are the home sellers who are now expecting video to be a part of marketing their property.”

With thousands of entries received from across the United States and around the world, the Communicator Awards is one of the largest and most competitive awards program honoring the creative excellence for communications professionals. The Communicator Awards are judged and overseen by the International Academy of the Visual Arts, an invitation-only body consisting of top-tier professionals from acclaimed media, advertising and marketing firms.

About Coldwell Banker®

Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of more than 98,000 agents working in more than 3,600 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to augment its web site www.coldwellbanker.com for smart phones, the first to create a iPhone application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program.

© 2010 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office Is Independently Owned And Operated Except Offices Owned And Operated By NRT Incorporated.

If the low prices and the low interest rates have you wishing you could buy a new home but cannot because of your debt load, there is still time to reorganize your finances to make your wish come true.  Take a realistic look at where you spend your money.  Write everything down and where you spent it.  Is there a $4.00 Latte everyday? Make a budget and try to do away with some of the extras that you buy on a whim.  There are budget tools online, like Suze Ormans expense tracker that will help get you started.   We also have a credit repair company that can help you earn additional points for your credit score, so that you can qualify for lower interest rates.  Before you know it, that new home can be yours.  Be patient and work towards what you really want.  We can help you achieve this.  For all your Wilmington NC real estate needs please visit www.cbbaker.com or www.kaybakerwilmington.com

To view the home pictured please visit www.AskMeAboutWilmington.com

Did you miss the $8,000 Stimulus deadline to purchase a new home?  If you did Coldwell Banker Corporate has announced a Buyer Bonus plan that could help you get a credit on a new home.  

Purchase a participating home between May 1, 2010 and July 31, 2010 and the seller will refund 3% of the accepted offer price up to $8,000 to you as a credit at closing.  Look for the “Buyer Bonus Program” homes online or call us and we can help you with your search for a new home.  You don’t have to be a first time home buyer to enjoy the credit.  Read more here.

Search online at www.cbbaker.com or TEXT 14059 to 44133 to search on your mobile phone.