SELLERS MARKET | Why Every Home Doesn’t Sell

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apThis is a healthy housing market—by most indicators a seller’s market—especially for homes that are priced to sell and in great condition.

As we move into the year-end season, there are no signs the market is shifting. Price remains critically important. Today’s sellers must avoid the pitfall of believing “everything sells.” Track market trends with a real estate pro—like us—and make sure your home’s sales price reflects what buyers expect—and will pay. If an offer doesn’t appear quickly, make a noticeable price improvement sooner—not later—if you expect to get your home sold.

Despite a great year so far, many prospective sellers still are not getting their homes sold. Here’s what our experience and local trends tell us:

Overpriced Listings. You can’t sell a home based on last year’s prices or national headlines that conflict with our area’s micro-trends. Don’t set a sales price based on the amount you want to cash out of the home. Pricing right is paramount to get your home noticed, toured and sold fast. The right price is one that buyers are willing to offer compared with other nearby homes currently for sale. Expired listings are often homes that aren’t priced right. You may be amazed at how many homes have lingered on the market longer than average—at all price points.

Condition. Is your home move-in ready? It will sell quickly because choosy buyers want a modern home in great condition. They’ll pay for it, too. If you have a list of fix-ups, needed updates and undone maintenance, buyers will notice and keep looking…right past your home.

Set The Stage. Clean and declutter each room. Make each space inviting and bright. If you’ve already moved out, rent or borrow furniture to give each room a purpose and focal point. Empty homes don’t sell.

Contract Kickouts. Perhaps the biggest reason not every home sells in this market is that some homes go under contract but never reach settlement. Those deals “kick out.” Maybe it’s the home inspection. Sometimes it’s buyer remorse. Often, financing for the buyer doesn’t come through…especially if the buyer isn’t preapproved or paid over market value in a bidding war. Whatever the reason, a significant number of contracts fall through without ever getting to closing—and if your home is priced right and in good condition, it’s got a better chance of not tripping over closing hurdles.

Going It Alone. If you’re trying to sell your home on your own, your property is not getting the marketing and exposure it could when you partner with a real estate professional. Today’s real estate market is healthy, but selling by yourself could mean lost time, lost money and a lost sale.

Bottom line for today’s sellers? Fixing-up matters. Staging matters. Savvy marketing matters. Negotiating experience matters. And—most important—pricing ahead of the market matters to be sure you get your home sold for top dollar in our market today. Contact us to discuss how we can turn your “for sale” quickly into “sold.”

Categories: #Spring Time To Sell, Sellers Market, Uncategorized, Waterfront Wilmington NC, wilmington nc

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

MOVE UP: 4 Smart Strategies For Purchasing Your Next Home

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kingarthur3If you’ve decided it’s time to move up to a bigger home, a better home or a home in a more coveted area, your next challenge will be getting there financially. It’s likely you’ll need more cash, a larger income and, perhaps, better credit than you had when you purchased your current home. Putting all the pieces in place for the move up could take some time and detailed planning. Here are some ideas when buying Wilmington NC real estate.

1. Credit Clean-Up

Although your credit rating may have been sterling as a first-time home buyer, years of credit-card and utility accounts, car payments and consumer loans may have scuffed up that financial image a bit. Late or missed payments have a negative effect on your credit profile, as do large, long-term balances on your accounts. Your credit score, a rating system many lenders use to evaluate your financial situation, may prevent you from borrowing as much as you’d like for your next home or getting the lowest interest rate currently available.

The wise move-up buyer will take stock of his or her credit standing and debt status well before attempting the next home purchase. You may need some time to reduce your debt, catch up on any delinquent accounts, remove inaccuracies and blemishes from credit reports and make other adjustments to increase your credit score.

2. Loan Shopping

A quick way to sift through these issues is to contact a lender who can pull a credit report to see if there are any glaring spots on your record. If nothing needs immediate attention, you can continue on with a complete application, providing the financial information needed for loan pre-approval. The loan officer will determine the maximum loan amount you qualify for based on your income and debt profile.

You may want to shop around at this point, comparing loan programs and interest rates. Consider how well your current loan has worked for you and remember that rates aren’t everything. The lowest rate may be accompanied by high points. If so, you’ll have to keep the mortgage long enough to justify paying the steep up-front cost of the loan.

Consider whether a non-traditional mortgage program could meet your needs. An adjustable-rate mortgage may be a good choice if it looks as though interest rates will be falling. A 40-year mortgage might reduce the monthly payment enough so you qualify for a larger loan.

3. Collecting Cash

An important factor in the equation that determines your buying power will be how much cash you have for a down payment and closing costs. The best mortgage interest rates are available to buyers with down payments of 20% or more. If you make a smaller down payment, you may have to take a higher interest rate or pay for private mortgage insurance, both of which will reduce your buying power.

Unless you’re a prodigious saver, chances are the equity you have in your current home will provide the largest source of cash for your next home purchase. Equity, of course, is the difference between the market value of the home and the balance on any mortgages secured by the home.

We would be happy to conduct a comparative analysis of your home to determine the right sales price — at no obligation to you, of course. By determining the value of your home and subtracting out selling costs (paying off the old mortgage, marketing fees and settlement expenses), you’ll have the basis for a down payment on your move-up property.

4. Fine Tuning

After taking stock of your financial situation, you may find it necessary to delay your move in order to get the type of home you’ve targeted. Perhaps you need to save more cash for down payment and settlement costs. You may need to pay down outstanding debts to improve your credit score and qualify for a larger mortgage or a lower interest rate. Remember, it’s likely your home’s value and your equity in it will continue to grow as you get yourself in a position to move up successfully.

Categories: Move Up Homes, Waterfront Wilmington NC, waterfront wrightsville beach, wilmington nc real estate, wilmington nc relocation

What is the single most important rule in house hunting?

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1604 CrowsLand-0503Want to know what the number one rule is when Wilmington NC home shopping? Well, many details must be considered in choosing your next home – style, size, price, location. It’s probably impossible to say which factor is most important. But one thing is certain – if you will be moving again in a few years, be sure you buy with selling in mind. Chances are, the items that make your new home a comfortable fit for you will also attract buyers later on.

Some special considerations for the short-term homeowner who has resale in mind:

  • Watch for growth potential
      Look for an established neighborhood that will be enhanced by future growth but not inconvenienced by it.
  • Look out for resale value
      Seek a prime neighborhood where houses sell well in any market.
  • Check out location
      Consider availability of all aspects of transportation; even those you may not use.
  • Schools are important
      Check for quality public schools, whether or not you have school-age children.
  • Green is good
      Look carefully at the lot for trees and greenery to buffer winter winds or summer heat.
  • Make room for visitors
      See if ample guest parking is available for you and your neighbors.

 

  • Privacy is a plus
      Consider how much privacy the house and lot provide.
  • Drive the commute before you buy

Check morning and afternoon drive time to work, schools, shopping, churches.  Call us 910-202-3607 or kaybakerassociates@ec.rr.com

Categories: house hunting, Uncategorized, Waterfront Wilmington NC, Wilmington NC Neighborhoods, wilmington nc real estate

Figure Eight Island | The Wilmington NC Real Estate Island

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figureeightFigure Eight Island NC real estate comprises a beautiful coastal community offering the ultimate in privacy and security located just minutes from the conveniences of Wilmington and Wrightsville Beach. Whether you’re looking for waterfront/oceanfront real estate on Figure 8 Island, for your dream home or second home for a beach vacation of a lifetime, Kay Baker & Associates of Sea Coast Realty can help you find premier Figure Eight Island, North Carolina, real estate! Come and experience the beauty, serenity and casual atmosphere of Figure Eight Island for yourself.

Homes for Sale in Figure Eight Island, NC

Homes for sale on Figure Eight Island, North Carolina are unlike any other oceanfront property you’ll find anywhere. Located on the Atlantic Ocean and accessible only by a private bridge, Figure Eight Island, North Carolina real estate is known for its proximity to over five miles of sandy white beaches, sparkling blue waters and abundant natural resources. Yet the island remains untouched by commercial developments like hotels and shopping centers.

See listing and more here...http://www.cbbaker.com/figure+eight+island+real+estate

 

Categories: Figure Eight Island, Gated Island NC, Waterfront Wilmington NC, wilmington nc real estate, Wrightsville Beach NC

Are there any inside tips on down payments for first-time buyers?

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Folks who are new to the home-shopping world need more than just good luck. You should, of course, save all you can for closing costs and a down payment. For further help:

  • Revisit your “wish list”

Reconsider what you’re looking for in a first home. Find out what you can afford now, and consider buying a starter home that requires a small down payment with the idea of moving up in a few years.

  • Take advantage of special programs

Look into special low- and no-down payment programs like loans guaranteed by the Department of Veterans Affairs (VA) and Federal Housing Administration (FHA). Some areas also have local programs for low- and moderate-income families or first-time buyers, offering lower interest rates or down payments.

  • Gather gifts

Check with parents and relatives for monetary gifts that can go toward a down payment or closing costs. A 20% down payment can dramatically cut monthly costs and eliminate monthly mortgage insurance premiums.

  • Consider “sweat equity”

If you can fix up a home that’s in poor condition, you increase the value of your investment faster. Ask us about special combination loans that provide fix-up funds as well as purchase money.

  • Scour market for bargains

Call on us to research foreclosure properties, housing auctions and other homes available at below-market costs.

Want to know more? Click on “Ask Your Own Questions” or call or e-mail us today with questions of your own. We can tell you how much house you can afford, and we can help you get into your first home.

Categories: first time home buyers, Waterfront Wilmington NC, waterfront wrightsville beach, wilmington real estate stats

Miliken Report : Wilmington NC Ranks High In Report For Economic Productivity

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Wrightsville Beach NC www.cbbaker.com www.WilmingtonNC-realestate.com

Wilmington NC makes another list!  The 2013 Miliken report just released that our great town ranks high in report for economic productivity.  We jumped ahead 37 spots above last years report.  We are at an overall rank of 77.

 

For full report please visit

http://www.best-cities.org/bestcities.taf?rankyear=2013&type=Large-cities&metro=MWIM

To learn more about Wilmington NC and it’s people, please visit www.WilmingtonNC-realestate.com

We love to show off….especially when it comes to the people who live here. We invite you to visit and would love to greet you with Southern hospitality at it’s finest.

 

Categories: Waterfront Wilmington NC, waterfront wrightsville beach, wilmington beach homes, Wilmington NC homes, Wilmington NC makes top towns 2014, wilmington nc miliken report, wilmington nc real estate, wilmington nc relocation, wilmington real estate stats, Wrightsville Beach NC

Tips On What To Do IF Your Home Isn’t Selling | Wilmington NC real estate

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What to do if your home isn’t selling……

  Whether you’re in a bone-dry market or a sizzling selling season, if you haven’t received any offers on your home you’re probably facing the question of what to do.  A house that goes too long without selling begins to appear “stale” and can actually damage your future chances of a sale.

In Wilmington NC, how long is too long? It’s not an exact science, but there are some helpful indicators. In a dry market, a sales period of six months to one year isn’t unusual. Look at recent sales reports of similar homes nearby to determine a reasonable selling interval. In a hot seller’s market, a house that hasn’t sold within one month indicates a problem. In either case, there are several steps you can take before putting up the white flag.

Tips to improve your selling karma

  • Videotape your house, inside and out, and watch the tape as if you were a prospective buyer. Is the lawn weedy or the garden bare? Is your home uncluttered and spotlessly scrubbed? Sparkling-clean houses sell faster than those that look too lived-in or show an abundance of the owner’s personality.
  • Take a second look at your listing price. Visit open houses in your neighborhood. Are similar homes priced lower? Selling prices may have dropped since your first comparative market analysis. If you haven’t sold your home within one month, chances are good that you’ve overpriced it. If you do lower your asking price, consider a figure slightly below those of other comparable homes if you are interested in a speedy sale.
  • Do whatever it takes to be away from your home during showings and open houses. The presence of sellers makes it difficult for prospective buyers to take their time or talk openly with their partner and agent. Leave some treats out to make potential buyers more comfortable: beverages, nuts, cookies — anything that won’t lose freshness or be too messy.
  • Pay close attention to feedback from showings. The feedback can guide you in making home repairs, toning down your décor, making landscaping improvements and the like.
  • You can offer perks to buyers, such as a cash bonus, closing costs or buy down the interest rate to lower monthly payments. You could also consider creative owner financing.
  • Neutralize your color scheme. Most buyers prefer pale, neutral colors that make it easier to imagine a new home as their own. Houses with white exteriors are the highest sellers; for interiors, try whites, off-whites or pale grays.
  • Expose hardwood floors and buff them until they shine. It’s amazing how many buyers will not even look at a house without hardwood floors.
  • If you have dogs, cats, old carpeting, mildew or smoke problems chances are that a potential buyer may be offended by the odor. Ventilate the home and invest in an air-cleaning and deodorizing product to remove odors. Another option is a cleaning product with living enzymes that consume the odor causing agents and remove the smell permanently.
  • Staging your home is one of the very best ways to sell your home the quickest and for top dollar. Staging sets the scene throughout the home to create immediate buyer interest in the property. The way you live in your home and the way you sell your house are two different things. One idea is to pack up several large pieces of furniture and as much clutter in each room as possible. Don’t just shift to another room or garage- rent storage space and get it out of the house before showing.
  • Pay attention to lighting. Make sure light sources are clean. Cleaning them isn’t enjoyable, but the sparkling lighting will pay off. You may even increase the brightness factor of your rooms by adding brighter bulbs, or by placing accent lamps or cabinet lighting. Be sure and pull back the curtains and lift the blinds. For the best effect, use a balance of natural, overhead, and table or floor lighting
  • Try readjusting your sights. Determine the lowest price you find acceptable, and consider anything more as icing on the cake. In a longstanding dry market you may even have to sell at a loss, so it’s important to take every offer seriously. You don’t want to alienate a potential buyer who has solid financing because you’ve set your sights unrealistically high.
  • If the market is underwater, consider offering an increased commission or a bonus for your listing agent as extra incentive. If you do sweeten the pot for your agent, amend your listing contract to reflect the change, and be sure it’s added to the Multiple Listing Service (MLS)  — buyer agents will also be inspired to give your house extra attention.

For more information or to search Wilmington NC real estate, please visit our site www.cbaker.com

 

 

 

 

Categories: Home Selling, Mortgages, New Hanover county shcools, Waterfront Wilmington NC, waterfront wrightsville beach, wilmington nc real estate

Wilmington NC Waterfront / View Real Estate from $83,900

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$89,900
1 Bed
1 Full Bath
0 Half Baths
                  www.WilmingtonNC-realestate.com

A Rental Machine $$ $14,473 in 2012! Top Floor Building 8 well maintained unit. Includes two Frigidaire AC Units, one in the master bedroom and in the living area purchased in 2012. New sofa…

$139,900
4 Beds
3 Full Baths
0 Half Baths

A fabulous find! Just 45 minutes from Wilmington, tucked away at Clear Run on the Black River. This sportsman retreat offers 4 bedrooms / 3 baths, fireplace, 2 kitchens and a wonderful…

$150,000
3 Beds
2 Full Baths
0 Half Baths

Beautiful waterfront lot with mature trees and landscaping. This property has been cared for and enjoyed for many years. It features a boat dock where you can fish or crab or park your Jon…

$164,900
3 Beds
1 Full Bath
0 Half Baths

Adorable 3 Bedroom Brick home situated on almost an acre of land on sturgeon creek. This home has recently been painted, refinished hardwood floors, new screened in porch among many more…

$175,000
3 Beds
2 Full Baths
0 Half Baths

Fisherman’s paradise. This waterfront canal 3 bedroom 2 bath home has 2 boat lifts (one covered)and boat dock just minutes from the ICW. In just a few more minutes you can be in the Atlantic…

$224,900
3 Beds
2 Full Baths
1 Half Bath

Great 2nd row – tidal creek townhome. Views of the ocean and sound. Beach access across street. Fully furnished. New kitchen cabinets, granite, dishwasher, stove. Wood floors in living, dining…

$235,000
3 Beds
2 Full Baths
1 Half Bath

Welcome to Hewelett’s Creek and marsh front living in Sawgrass. Sawgrass is in the Parsley Elementary School district and has community pool, tennis, clubhouse and exercise room. This 1,560…

$259,981
3 Beds
3 Full Baths
0 Half Baths

Relax in the Florida room while enjoying the views & summer breezes of the Intracoastal Waterway. Open living area. 2 bedrooms, 2 baths on main level. 1 bedroom & full bath in basement.…

$274,900
3 Beds
3 Full Baths
0 Half Baths

Home located on marsh in Surf City. Property has a dock with small flat bottom boat or kayak access, that leads to deep water. Home has 3 bedrooms and 3 baths, with fireplace, tile, Bamboo…

$279,000
3 Beds
2 Full Baths
0 Half Baths

Great Community on Bay Tree Lake, wonderful home on canal for relaxing mornings and afternoons. This home has three spacious bedrooms, large eat in kitchen, great Carolina room that overlooks…

For more waterfront please visit here….
Categories: Figure Eight Island, Uncategorized, Waterfront Wilmington NC, waterfront wrightsville beach, wilmington beach homes, wilmington nc, wilmington nc real estate, Wrightsville Beach NC

Homes, Townhomes, Waterfront, Boatslips, Luxury Homes | Search by Map | Easy Real Estate Search

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Have you ever wanted to search for a new home but wanted to do it from a map.  This site lets you explore different areas and put in your criteria such as price, lot features etc. Click on map to begin.

www.wilmingtonnc-realestate.com

www.wilmingtonnc-realestate.com

If you do find homes that you want to save, you can login and save your favorites.  Any questions, just let us know. We are the Wilmington NC real estate team with a full service company behind us.  Coldwell Banker Sea Coast Realty.

bakerwayneassociates@ec.rr.com

910-202-3607

Categories: Boat slips Wilmington Nc, homes in wilmington nc, Homes in Wrightsville Beach, Waterfront Wilmington NC, Wilmington NC homes


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.