Wilmington NC Real Estate Guide

Spring is right around the corner in Wilmington NC. What a great time to get a jump start on your spring cleaning.  If you are considering putting your home on the market, this might be the time to hire a cleaning professional.

Some of the things you need to keep in mind are:

1. Make a list of things that you would like to have done to the interior and the exterior of the home. 

2.  Do your homework and ask friends for referrals of cleaning companies.  Check out references before you hand over the keys to you home.

3.  Make sure that the cleaning company handles taxes for their employees, has insurance and is bonded.

4. Get an estimate for services and make sure it is detailed.  Your idea of a cleaning might be different than theirs.

5.  Make sure that the company can schedule days to fit your schedule and whether or not they supply the cleaning equipment and supplies.

6.  A professional cleaning job can make your home shine and show well. 

7.  Call us to help you sell your home!

So, start your real estate search today at www.cbbaker.com.  You can find a new home as well as get seller advice.  You can search by price range, map, schools, neighborhoods and more.

Wilmington NC Real Estate

The real estate market in Wilmington is definitely showing signs of improvement in the number of homes sold and the list price for Dec 09 over Dec 08. And, our average sales price has decreased 9.6% over 4th quarter 08, and increased 5.3% over 3rd qtr 09. There was a 12% decrease in median sales price over 4th quarter 08 and.03% decrease over 3rd quarter.

Sales price to list ratio was at 94.3% in the 4th qtr 2009 and the 4th qtr had an increase in number of homes sold by 34.5% from 4th quarter 08. As we know a lot of these sales were primarily driven by the tax credit that was set to expire Nov 30, 2009.

Hopefully last year will be the year that the market has bottomed out and started to stabilize. And, 2010 should be the very best year in a long time, for home buying opportunities. Remember, first time home buyers tax credit has been extended and expanded to include repeat, move up buyers, prices are down 10% from 2008, foreclosures and short sales are excellent buying opportunities,  mortgage rates are at historic lows, and  there is a large inventory of homes for sale to choose from.

So, start your real estate search today at www.cbbaker.com. You can search by price range, map, schools, neighborhoods and more.

Announcing another Coldwell Banker Sea Coast innovative marketing tool that will show sellers in “real time” for every 7 days worth of exposure how many views their home has received on the Sea Coast Web Site.  Reports can be sent out daily or weekly automatically.   The SC Seller Web Advantage is a unique and great tool that will breakdown the viewing traffic in a variety of ad spots.

1. Listing agents profile page with their properties

2. Viewed as a “Featured Property” (Home page for Sea Coast )
3. How many times the home is clicked on for “more” details.
4.  How many times your home was in a “search” result ( eg neighborhood, price)

The report is visually easy to read with graphs, and text details.    

The other report is a Market Comparative analysis report on your home.  This is just to see what is selling around you, in different price ranges, either by zip code or by map.

A complete breakdown of traffic on your listing from SeaCoastRealty.com for every 7,30, and 240 days.

·         Agent Listings – How many times it shows up under an agents, “My Properties”.

·         Featured Property – How many times it is featured on SeaCoastRealty.com.

·         Property Detail – How many times the property detail page is viewed for that listing.

·         Property Results – How many times your listing was returned in a search result.

The report includes not only a text layout but also a very nice Pie Graph to visually compare traffic information.

If you are thinking about selling your home in Wilmington, NC, why not let the most innovative and aggressive marketing team go to work for you? Call or email Kay Baker at Coldwell Banker Sea Coast Realty now. She knows more about the Wilmington NC real estate market!

Four Mistakes That Can Cost You Thousands

Like all homeowners, you hope your home will sell quickly. Some homes do. In fact, the majority of homes sell during the initial listing period. But–as you know— some do not. In tough markets, as many as a third to a half the listings expire unsold. If this has happened to you and you still want to sell, make a renewed commitment to do what it takes to market your home effectively.

There are four major components of a successful sale.

1. Communication-Teamwork between seller and agent is key to know how to alter the marketing process. Did you receive feedback from the showings that you had? Most important, we want to hear from you.

2. Price-This is the most common culprit for the lack of a sale. An incorrectly priced home attracts the wrong buyers or none at all. One secret is to price your home below other expired listings and overpriced listings languishing 60 to 90 to 120 days on the market. Activity without offers often indicates overpricing. Remember, any home will sell for the right price.

3. Condition-When buyers enter your home, we want them to say ” I love this home!”. A home in like-new condition sells fastest and gets the best price because it outshines the competition. For instance, don’t offer a carpet allowance in the place of installing new carpet. While prospective purchasers are trying to imagine new carpeting,they likely will discount it further for the worn carpet underfoot or buy one down the street with new carpet.

4.Marketing-Your secret to success is a carefully crafted marketing plan that exposes your home to the widest pool of possible prospective buyers. In today’s market the most successful marketing campaigns integrate online and offline marketing. Most homebuyers search for homes online, so offline advertising should direct homebuyers to an array of color photos and virtual tours online.

Buyers are out there! Don’t show off your home until marketing plans, terms, price and condition are set. Put your home in buyer ready condition and it won’t go unsold. If you are ready to talk about selling your home in Wilmington, NC, we welcome your call or email. We can assist you every step of the way. For more selling tips log on to my website at www.cbbaker.com.

Your home will sell. There’s no question about that. However, if you put your home on the market without preparing it for sale, you may have a long wait for an offer.

And, the exterior of a home and the grounds surrounding it create strong first impressions on a home buyer-as well as family, friends and neighbors. If a property shows shoddy upkeep, faded paint and unattractive landscaping, prospects viewing it from the curb may assume more shabbiness inside.

If you are thinking about selling your home and want to boost its appeal to drive-by buyers, follow these suggestions here- then sit back and watch your home sell for top dollar!

1. Pretend you are shopping and drive slowly by. Then, get out of the car and walk toward your property critically as a buyer would, jotting down what you notice. Also, see how your home looks after dark. Many home buyers use weekday evenings to drive by homes and weekend days to visit them.

2.The Big Picture.. Try to find a memorable word or phrase that best describes your home. Is it inviting, cozy, elegant, well maintained or interesting? Or is it run-down, messy, ordinary, dirty or scary looking?

3.Punch up your home’s style by ensuring its attractive architectural features get noticed. Use slightly contrasting paint color that coordinates with the color of the home to emphasize special features such as columns, trim, porches, shutters, doors and so on.

4.Landscaping not only attracts the attention of buyers, it can increase the value of your home. Remember, plantings on the property should decorate rather than dominate the home. Remove old shrubs and trees that have over grown their location, no longer look healthy or block views of doors, windows or walkways. Simplify beds so they look net and easy to maintain.

5. Add extra pizzazz and interest to just two or three areas outside by using a decorative planter or potted flowers, seasonal banner, window boxes, front porch swing, garden bench or bird bath.

6. Make sure your outdoor  hardware reflects up to date styles. Mailboxes, house numbers, screens, light fixtures, railings, door handles and kick-plates can adorn a home or detract from it.

7. The most important impression you want your home to convey is that it is clean and well maintained. First, minimize or do away with clutter-lawn ornaments, grills, furniture, yard tools or toys. If your home’s exterior paint is faded or peeling, invest in a fresh paint job in a neutral color scheme. Buy or rent a pressure washer and use it to give your deck and driveway a nice fresh look. And, don’t forget to clean the windows!

We specialize in selling homes in or near Wilmington, NC and would be happy to take a look at your home and provide suggestions about how you can enhance its curb appeal and sell your home for top dollar! Just check out this home in Gorman Plantation, that we recently sold in one day!

There’s no obligation, just call or email today.

Home sales are on the rise now for 3 months in a row. That is certainly a good sign that the real estate market may be rebounding, finally. And, the historic low interest rates and the $8000 tax credit have definitely given the market a boost.

New home sales have risen more in the last month than they have in 8 years. New construction is busier now than any month since last fall. But, new home sales are still down 72% from 4 years ago as inventories remain high.

Our own Wilmington, NC real estate market is seeing signs of improvement, as well. First time home buyers are jumping in to take advantage of a once in a lifetime opportunity. Second home and vacation home buyers are beginning to see the benefits of purchasing a dream home on the beach, whether it be Wrightsville Beach, Carolina Beach or Topsail Beach, NC real estate.  Now is the time to take advantage of this market. Everything is on sale now…

To begin your search for Wilmington, NC homes, please log on to my website at www.cbbaker.com or email me at kay@cbbaker.com. I can send you a detailed list of foreclosures, short sales and homes price under $100 ft.

Landfall is conveniently located between Wilmington, NC and Wrightsville Beach, NC. It’s 2200 acres of premier real estate is also situated on miles of pristine waterfront property with magnificent views of Wrightsville Beach, NC.

Landfall is also home to well known golf courses such as The Pete Dye or Jack Nicklaus Course. The country clubs at Landfall offer 14  tennis courts, olympic size pool, state of the art fitness center, fine dining and social events year round.            

Landfall NC real estate offers diverse architecture, wooded homesites, and panoramic views of the intracoastal waterway, fairways, ponds and the beaches. Whatever your heart desires in luxurious country club living, it is here at Landfall near Historic Wilmington, NC.

Homes for sale in Landfall range in size and price  from 1650 sq ft patio home at Prestwick to a stately 10,000 sqft Greek Revival home priced at $4,919,000. There are presently 152 Landfall homes for sale, 6 homes are pending and are priced under $1,000,000. In 2009, there have been 16 homes sold in Landfall according to WRAR.

To search for homes in Landfall or Wilmington NC real estate including short sales or foreclosures, please log on to my website at www.cbbaker.com or contact me at kaybaker@ec.rr.com or 910-232-0363. I would be happy to send you a list of homes for sale.

Now is the Time to Purchase A Second Home

If you are thinking about purchasing a second home, here are a few good reasons to go ahead and make that purchase. Wilmington, NC real estate prices are very attractive right now and interest rates are at historic levels. In addition, there is an abundance of available beach homes, condos, townhomes or just a nice comfortable brick ranch homes for sale near the beach. Also, don’t forget the foreclosures and short sale opportunities right now.

Uncle Sam also has some tax savings for you on second homes, as well.

Mortgage interest and property taxes on a second home may be tax deductible, just as the interest on your primary home.

Interest on a home equity loan is tax deductible, whether for your second home or not. There are some limitations on the deductibility of all equity loans. Be sure to check with your tax advisor.

You may be able to deduct rental expenses including depreciation if your second home is considered to be a vacation home.   Tax laws are complicated, so be sure to check with your tax advisor.

Convert your second residence to a primary residence for two years for either you , your spouse, or both of you and shield gain from capital gains tax. You can qualify for this break if, during the five year period leading up to the sale date, the property was owned for a total of two years and used by you as a principal residence for a total of two years. What establishes a principal residence is virtually a laundry list of factors. Again, be sure to consult with your tax advisor.

Remember, Wilmington NC homes beach homes are on sale right now. You can choose from a condo on or near the beaches, or maybe a  beach home for the family on Figure Eight Island, NC or Wrightsville Beach, NC. We have it all. Just send me your specific criteria and we can find the best deal for you. Also, search for homes on my website by price range, neighborhood, map, zip code and more at www.cbbaker.com.

Masonboro Island NC on July 4th

Masonboro Island is an 8 mile long uninhabited island on the southern North Carolina coast between Wrightsville Beach and Carolina Beach and is part of the National Estuarine Research Reserve. Masonboro Island, only accessible by boat, is enjoyed by campers, surfers, anglers, and bird-watchers alike. The reserve consists of about 5000 acres, which about 4400 acres are tidal marsh and mud flats.  The most northern end at Masonboro Inlet is the most popular area with its sandy beaches and protected waters. Any summer weekend you will see many boaters and campers prepared for a few days on the beach with tents, grills and water toys in to  Masonboro Island, normally calm and peaceful, has recently seen a little too much partying and alchohol consumption on big Holiday weekends such as July 4th and Labor Day. Boaters from all over the Southeast join in on a big party weekend.  So, if you plan to visit the island, be sure to keep your alcohol consumption to a minimum and take your garbage with you.

Masonboro Island is also located only minutes from the mainland where you will see prestigious waterfront communities with private docks, marinas, and boat ramps for homeowners. One of the most conveniently located communities to Masonboro Island is Shinn Point, located straight across from Masonboro Inlet, which is one of the most protected inlets on the East coast. From Shinn Point, you can be in the ocean in just minutes for a day of deep sea fishing or just cruise over to Masonboro Island and relax in the sun.

For complete details on all waterfront communities in Wilmington, NC or Wilmington, NC real estate, please feel free to contact me or go to my website at www.cbbaker.com.

Everyone Wants a Lower Price, But What About the Impact of Interest Rates?

When shopping for a home, the natural tendency of any buyer is to want to pay the lowest price possible. It’s important to keep in mind, however, that the sales price is not the only factor that determines what the monthly payment will be. In fact, the impact of higher interest rates can easily nullify any benefit of waiting for a lower price.

Why Should I Rush to Buy?
While you may have heard discussions in the media about the decline of property values in many markets, the rate of decline appears to be stabilizing.

That being said, it would not be unreasonable for buyers to want to hold out for an additional decline of 10%, hoping to capture the best possible price. However, as property values have declined in many areas to 2003 levels or lower, waiting longer to pull the trigger could be a mistake. Many markets are reporting that lower property values have been bringing out investors and the result has been multiple offers on many properties. Properties priced correctly are not declining and, in fact, are creating a lot of interest.

Interest Rate Complacency
The problem is that many home buyers have been lulled into a sense of complacency because of extremely low interest rates. Since the Federal Reserve initiated its program of buying mortgage-backed securities, which control the rates people pay for their home loans, rates had been range bound, bouncing between 4.50% to 5.00% for a 30-year fixed-rate loan.

But buyers shouldn’t be confused by this. These rates are artificially low! Historically, interest rates have been above 6.00%. And any rate obtained below this number is a great deal, especially on homes with price tags from 2003!

Markets are Unforgiving
The last two weeks of May showed just how unforgiving the markets can be for people who choose to procrastinate. In just five days, interest rates from many lenders increased anywhere from .50% to 1.00% as fixed-income investors demanded more for their money.

For anyone who is waiting for prices to drop even more, a 1.00% increase in interest rate would bring a higher monthly principal and interest payment on a home, even if the price of that same home had fallen an additional 10% in value.

If you  are waiting for prices to fall even lower, be aware that while holding out for a lower price may help them win the battle, you could lose the war in terms of monthly payments and overall affordability. With the Federal Reserve scheduled to end its buying of mortgage-backed securities this year, rates only stand to go higher for those that wait. In fact, interest rates are already on the rise and could go higher from here.

$8000 Tax Credit
If you are planning to purchase your  first home this year, you will need to take possession before 12/01/2009 to be eligible for a tax credit of up to $8,000. In a survey conducted in March by Move.com, nearly 50% of home buyers are currently unaware that this free money exists in the marketplace. And since over 50% of all buyers are first-timers in today’s market, this could impact a lot of potential homebuyers.

Wilmington NC Real Estate

First time home buyers in Wilmington NC have a nice choice of homes for sale that are priced to sell quickly. Affordable neighborhoods in Wilmington, NC such as Whitney Pines, Alamosa Place and Jacobs Ridge are among the most popular. These neighborhoods are conveniently located near Wrightsville Beach and Mayfaire.

If you are searching for Wilmington, NC real estate, no matter what price range, just log on to my website at www.cbbaker.com for complete details on all homes for sale in Wilmington, NC. You can search by map, price range, neighborhood, schools and more.