KEY TO SUCCESS | How To Choose Your Rental Property Tenants Wisely

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whitneyHow do you find responsible tenants who pay their rent on time, take care of your property, get on well with the neighbors and stay as long as you want them to?

Recruiting: Ask around to find potential tenants looking for a rental or advertise your property online to find them. Two proven ways to find good tenants is through tenant referrals or a reputable management service, which can advertise your property, efficiently screen applicants and refer people to you for a fee.

PERFECT RENTALSSuccess as a landlord starts with having the right rental property—one that appeals to renters, minimizes your costs, maximizes your income and is likely to appreciate in value while you own it. Wise investments start with the following tips:

1. Location. Be sure the property is in a location where rental demand is high (e.g., near public transportation, employment centers, etc.). Check vacancy rates and how long properties stay on the rental market.2. Property. Buy the type of property that is most desired by renters. In some areas, condos, townhouses or multi-family units may be easier to rent than single-family homes. In other areas, the reverse may be true.

3. Condition. Choose a property in good shape and easy to maintain. Excessive repair and maintenance expenses can seriously impact the profitability of your investment.

4. Demand. Find out what is predicted for the area’s rental market in years to come. Learn what plans are underway to change the neighborhood (e.g., road construction, industrial development, etc.) that might affect the value of or demand for your investment.

Setting Standards: Decide what your rental criteria are—then make sure you advertise the property accurately. Determine the following:

  • Rental price and rental period.
  • Minimum income requirements.
  • Security deposits for last month’s rent, damages, pets, etc.
  • Who pays which utilities.
  • Restrictions on pets, smoking and/or maximum number of occupants or cars.
  • Responsibilities for maintenance, repairs, yard upkeep and pest control.
  • Satisfactory personal and former landlord recommendations.

Applications And Screening: Make sure your application form asks for all the information you need. Ask applicants to show their legal identification and verify the information they’ve provided to you. Remember, although you do have the right to choose who lives in your property, the Fair Housing Act prohibits discrimination based on the applicant’s race or color, national origin, religion, sex, familial status, and handicap or disability. In ads: Describe the property, not the people.

TIP: Ask applicants for their credit reports with their application or permission to order a report directly from a credit reporting agency.
Categories: Choosing a rental client, Things to look for in a renter, Wilmington NC Neighborhoods, wilmington nc real estate, wilmington real estate stats

PLAY SMART: Savvy Tips On Buying A Vacation Home :: Wrightsville Beach

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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.

Great Reasons To Buy A Vacation Home

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

Sign up for your own portal for looking at Wilmington NC real estate at www.cbbaker.com

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 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 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.

 

Categories: Buying a Vacation Home, Figure Eight Island, Wilmington NC Neighborhoods, wilmington nc real estate, Wrightsville Beach NC

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

Is Your Homes Atmosphere Healthy?

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gardentipsEven though you can’t see it, the air in your home can affect the well being of you and your family. Now is a good time to check your home for a healthy atmosphere.

No matter how well you clean, silent, unseen polluters can build up inside a home, making you feel under the weather or even causing illness. Here are a few common polluters and simple solutions for eliminating them:

 

  • Mold and mildew:

 

      These organisms, which can grow wherever there is excess moisture, can cause allergic reactions. The simple solution is to ventilate the kitchen when cooking, and the bathrooms during and after baths or showers. Air conditioning and dehumidifiers help control humidity in the rest of the home. If you are remodeling, add a ventilating fan to the kitchen and baths.

 

  • Dust mites:

 

      These microscopic creatures live where the vacuum cleaner can’t get them-inside mattresses and box springs, down in heating ducts-and can cause allergic reactions. To limit their effect, enclose mattresses and box springs in zippered casings, and have ducts professionally cleaned.

 

  • Carbon monoxide:

 

      This colorless, odorless gas, which can cause fatal illness, can come from malfunctioning furnaces, gas dryers, stoves, or air seeping in from the garage. Equip your home with a carbon monoxide detector and have all appliances serviced regularly. Be sure any walls or floors between the garage and your home are airtight.

  • Cleaning solutions:

 

      Spray and squirt bottles make cleaning faster and easier, but some of the chemicals in the bottles can contribute to indoor air pollution. Look for more environmentally friendly cleaners such as vinegar, baking soda and borax (remember to keep borax out of reach of children).

 

  • The “new” smell:

 

      Carpets, furniture or cabinets made with pressed wood, and other new products can introduce fumes into the home as chemicals used in manufacturing are released. The simple solution for those sensitive to these fumes is to buy carpets with low-emission green labels or all-wood furniture. After a few months, the level of the fume emissions declines, but in the meantime, ventilate your home by opening windows frequently.

 

  • Although you may have to spend a little extra time or money

 

    to eliminate your home’s air polluters, it may be worth it for your family’s health.

 

Categories: Healthy Home Atmosphere, Uncategorized, Wilmington NC Neighborhoods, wilmington real estate stats, Wrightsville Beach NC

25 Reasons to Love Wilmington NC

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1. Beautiful Beaches and Waterways

Wilmington NC is situated on the southeast coast of NC and is bordered on the east by the Atlantic Ocean and the west by the Cape Fear River. The beauty and charm of Wilmington and the surrounding beaches equal or surpass any on the east coast. The many pristine beaches that we have to enjoy such as Wrightsville Beach, Carolina Beach, Kure Beach, Topsail Beach, Oak Island and Ocean Isle Beach are sure to captivate your heart.

 

2. Boating

The area’s many miles of coastline, rivers and sounds offer a variety of  watersports, boating activities, and quite a few harbors, marinas, and yacht clubs.

3. Fishing

Being located within minutes of one of the most protected inlets on the east coast, Wilmington offers bountiful fishing opportunities within minutes. Masonboro Inlet is located between the Southern tip of Wrightsville Beach and Masonboro Island. Also, the many creeks and bays located off banks channel and the waterways are a fisherman’s dream. You will see them fishing for drum, trout, and  flounder in the fall of the year.

3. Masonboro Island

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 tow.

4. Historic Downtown Wilmington NC

Wilmington is blessed with a beautiful and extensive historic district with magnificent and stately oaks, azaleas and oleanders. 230 blocks of downtown are on the The National Register of Historic Districts. The city embraces a lot of history and is fortunate that so much has been preserved.

5. Wilmington NC Real Estate

I cannot speak highly enough about the real estate offered in and around Wilmington NC, from the River to the Sea! Wilmington offers many affordable neighborhoods such as Whitney Pines to move up neighborhoods like Covil Estates with amenities, to luxury gated communities such as Landfall, or golf course neighborhoods like Porters Neck, and waterfront neighborhoods with marinas and boatslips such as Turtle Hall or Shinn Point . The choices are all right here in our great port city of Wilmington NC. Read the rest of this entry

Categories: Figure Eight Island, Uncategorized, wilmington nc, Wilmington nc schools, wilmington nc weekly events

MILLENIALS ON THE MOVE | Starter Homes, No Longer Your Parents’ Boomerang Basement

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Wilmington NC real estate

Millennials are broadly defined as the generation born between the early 1980s and the early 2000s. With Millennials born in 1980 turning 35 in 2015, many from the older end of this peer group are looking to buy homes and are NOT looking to continue renting or living in their parents’ home.

Actively saving. Twenty- and thirty-somethings who are serious about moving out are working hard to save up to buy property. Parents and grandparents, if in a position to give money, can help these Millennials achieve their real estate goals by giving up to $14,000 per year per individual tax-free.

Understand the value of homeownership.Millennials who are recently married, in a committed relationship or starting families are eager to have their own space. Starter homes are in demand for these groups who want to become part of the community and set down roots.

Why pay rent when I can own? Savvy young adults realize that everyone needs a place to live and it makes more financial sense to pay off your own mortgage than help pay your landlord’s.

Financing strong. The outlook for Millennials is positive as interest rates remain historically low and housing selection is generally wide. Loosening down-payment and mortgage insurance lending standards are opening more doors to homeownership for this group as well.

Competition. First-time homebuyers still are plagued by competition from investors who use all cash to scoop up desirable bargain properties. Working with a real estate pro, like us, can help buyers gain the upper hand.

Expectations. Too many buyers have unrealistic expectations for their first homes. First-time homebuyers need to realize they often will not be able to buy the type of home that their parents currently own. Many first homes need a bit of elbow grease to make them a showcase property.

Photo by imagerymajestic | freedigitalphotos

Categories: Uncategorized, Wilmington NC Neighborhoods, wilmington nc real estate, Wilmington NC real estate stats 2014

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

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www.WilmingtonNC-realestate.com

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.

Thank you for viewing – kaybakerassociates@ec.rr.com

Categories: Wilmington NC homes, Wilmington NC Neighborhoods

GOLF COMMUNITIES WILMINGTON NC REAL ESTATE

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GOLF COMMUNITIES WILMINGTON NC REAL ESTATE

golf wilmington nc

With our mild climate, you will truly enjoy year round golfing at the many golf courses throughout the Cape Fear Region . Whatever your handicap, there are more than twenty courses in and around Wilmington that are a pleasure to walk. Some of the courses were designed by some of golf’s greatest names including Jack Nicklaus, Tom Fazio, Fred Couples and P.B. Dye, among others. Some of the Wilmington courses are listed below.

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  • Wilmington Municipal Golf Course 311 S Wallace Ave. 791-0558

Please feel free to contact us with any questions or requests about golf homes for sale or golf course real estate in Wilmington, NC, or any location in the Cape Fear Region. We have lived here all our lives and can help match a neighborhood with a home and schools. We know where the best shopping is and all the main attractions. If you are looking for a second home or investment property in Wilmington, NC, there are still real deals in the great coastal area, but you will need a real estate expert to help you. We are experienced real estate professional’s who has decades of home buying and selling experience in golf properties in Wilmington, NC area.

Kay Baker Associates has the knowledge and experience to assist you in the purchase of your dream home in a golf course community.

Contact us today  in Wilmington, NC, at 1-800-497-7325 Ex. 3607 or kaybakerassociates@ec.rr.com

Please click any of these golf course neighborhoods for the latest detailed information on Wilmington golf homes for sale.

Categories: Golf in Wilmington NC, Landfall, Porters Neck Plantation, wilmington nc real estate, Wrightsville Beach NC

Color Your Walls With The Right Mood

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Many studies have proven that people generally reabanjoct to color in very predictable ways–especially the color of their surroundings. Of course, those reactions are not always the same for everyone; some people associate certain colors with experiences unique to themselves. On the whole, though, you can choose wall colors in your home to help evoke or enhance different reactions–in yourself and others.

Moods Colors
Coziness light shades of yellow, orange, and red
Cleanliness white
Comfort deep purples, pink
Coolness blue, white
Cheerfulness yellow
Energy darker shades of yellow, orange, red
Playfulness primary colors (bright red, blue, yellow)
Serenity green, blue, light gray, beige
Refreshment green
Hunger red, orange, brown tonews

For more tips please visit www.cbbaker.com

Categories: Color your world, wilmington, wilmington nc, Wilmington NC Neighborhoods, wilmington nc real estate

“What Really Determines Your Home’s True Value In Today’s Market ”

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Looking at a home just by its address or public data rarely returns an accurate market value. Why? Because every property and pocket-market is unique. Here’s a quick refresher to see how the home you own—or the home you’re thinking of buying—stacks up in terms of local values and price trends.

Check out your value here.  www.WilmingtonHouseValues.com

Location, location, location. It’s not just a cliché because most homebuyers will pay more for a comparable home that is conveniently located near schools, place of work, public transportation, parks, etc.

Size of home. The number of bedrooms, bathrooms and total rooms in the home helps determine its underlying value.

Size of lot. A bigger lot often means that the home commands a larger price tag, especially in cities where open space is at a premium. Landscaping and hardscaping improvements (or lack thereof) can swing value up or down.

Amenities. If the home has special features that other homes don’t have or it has been upgraded, it may be worth more if the majority of homebuyers find these features desirable. Large, updated kitchens and baths, spacious and numerous closets, usable storage space, outdoor entertaining space, modern wiring, etc. often add value.

Age and condition. Newer homes are typically worth more than older homes because they often need less work to make them move-in ready. Well-maintained older homes, however, that have been remodeled and are located in a desirable area may bump the price tag higher.

Get professional advice. If you have any question about local home price trends—or your home’s potential selling price—contact us. We’d love to show you how our knowledge of local values can help you determine what your home is really worth in today’s market—and if selling your home or finding a new one fits your financial goals.Let us know how we can help. kaybakerassociates@ec.rr.com or 910-202-3607

Categories: Sell your home, Selling Home, Selling your home, Wilmington NC Neighborhoods


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

Copyright © 2015 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.