Worlds Largest Christmas Tree | Wilmington NC real estate

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Wilmington NC Worlds Largest Christmas Tree | Star News Photo

Our world famous tree will not be lit again this year, but here is  a little history to bring back memories.  In 1928 “Hi Buddy” Wade, the town commissioner held a contest to find the best Christmas tree to light in Wilmington. Two local school children choose the tree at the Hilton Park. A Large Oak.  Each was rewarded with a $5 gold piece.  450 lights were used to decorate the tree.  The Worlds Largest Christmas tree lighting ceremony which has  been held every year since 1928 (except the one year during World War II) until 2010.  The age and health of the tree has been a concern in prior years.  The City of  Wilmington is doing renovations at the Sweeney plant next to the tree, and these are safety concerns as well.  To upgrade and accommodate changes to make the area around the tree safe is not in the City budget.

So, we will have to view the tree from afar, and visit the new tree and Santa’s house on the downtown Wilmington NC riverfront.  Until then, we can still say Wilmington NC had the “Worlds Largest Christmas tree” .

If you are in town and want to search Wilmington NC real estate – visit www.cbbaker.com/

Categories: Uncategorized, wilmington nc, wilmington nc convention center, Wilmington NC Market Statistics, wilmington nc real estate, worlds largest christmas tree

Tools and Gadgets For Holiday Home Gifts

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www.WilmingtonNC-realestate.com

When it comes to home repairs, maintenance and fix-ups, having the right tool for the task at hand can spell the difference between a quick job well done and a frustrating ordeal. If you have a “handyperson” (willing or not) on your holiday gift list, here are some great gifts you could contribute to his or her arsenal of equipment–if he or she hasn’t already discovered them.

 

  • Cordless Power Drill

(9.6 volt or more) with two rechargeable batteries. Likely to become the most oft-used tool in the box!

Drill bit set (100 piece or more)

to handle any challenge-ceramic, concrete, specialty head shapes, etc. With quick-snap adaptor, even better.

Portable tool organizer

of heavy-duty canvas or rip-stop fabric. Belt, vest or bucket offers ready access to tools, often with dozens of varying pocket sizes.

Universal socket wrench

can adjust to any size, both metric and standard, due to flexible pin design. Some come with power adaptors for electric drills/screwdrivers.

Spring hose

(50′ or longer) takes the weight and the winding out of watering tasks, yet stands up to wear and tear.

Pressure washer

for concrete, siding, outdoor furniture, decks, vehicles and much more. Even inexpensive, lower pressure models (about $80) are effective enough for most tasks.

Electronic stud finder

finds the wood, not just the nail holding it in place. Some come with laser leveling devices.

Carpenter’s level

comes in handy for everything from tree houses and fencing to hanging picture on the walls.

Sanding sponges,

in various texture grades, offer a tough, rinseable, reusable sanding surface, particularly useful with drywall and spackling compound.

 

Categories: Tools, wilmington nc

Someone would like to see your home in a half hour | Ready. Set. Go

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READY TO SHOW

 wilmingtonnc-realestate.com

Showing Primer: Get Your Home Visitor-Ready In A Flash

Some Wilmington NC buyers may not give you much notice before they want to tour your home. Here are several tips to keep your home showcase-ready—or get it ready fast. On your mark: Assemble a cleaning caddy with all necessary tools, cleaners and rags to take with you from room to room. Get set. Go!

Everywhere

  • Turn on lights, open window coverings.
  • Stash items that don’t belong in a particular room in a box or bin. Place the filled container in the garage, basement, attic or another out-of-the-way area.
  • Lock up pets or take them with you when you leave for showing.

Kitchen

  • Pop dirty dishes in the dishwasher.
  • Take garbage/recycling to bins outside.
  • Wipe counters, sink, appliances with appropriate cleaner.
  • Sweep along cabinets and in corners.
  • Wipe up any sticky floor spots.

Living Room/Family Room/Den

  • Dust large open surfaces such as tables, lamp shades, shelves, etc.
  • Straighten books, magazines, videos, music, electronics (better yet, ban this clutter for now).
  • Fluff and arrange pillows and throws.

Bedroom

  • Make beds, even if it means throwing bedspread/comforter over unmade sheets.
  • Prop up pillows decoratively.
  • Put away clothes and other clutter (under-bed storage box works too).

Bathroom

  • All countertop items in cabinets.
  • Fold towels neatly or put out special “showing-only towels.”
  • Wipe down counter/sink and perhaps tub/shower if you have time.
  • Sweep or wet-mop floor, especially corners.
  • Wipe down toilet and/or swish inside with nearby toilet brush.

Hallways/Entry/Mudroom

  • Hang up all items.
  • Sweep and/or shake out rug outside.
  • Put dirty clothes in washing machine or dryer (if either are empty).
  • Showtime!
Categories: Getting your home ready for a showing, wilmington beach homes, wilmington nc, Wilmington NC homes, wilmington nc real estate

Wilmington NC SPRING MARKET Making A Move May be Easier Than Ever Before

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In this Wilmington NC spring market, making a move may be easier than ever before. Thanks to improvements in the real estate market, employment options, housing choices and personal finances, more people today are moving to where they want to live, not where they have to live.

In fact, moving today is easier than you think. Local home sellers are finding their priced-right homes selling, allowing them the freedom to relocate down the street, to the other side of town, across the country or around the world. Plenty of buyers are out there right now, taking advantage of our springtime temperatures and increased inventory. Many want to start their new life in a new home by the beginning of summer.

What’s moving today’s buyers? Job situations for many have changed for the better. (As always, employment is a major factor driving home sales.) One reason is that more and more people are working from home, and breadwinners are less tied to living near work. Now they have the flexibility to move to where their family wants to be located, where their favorite activities are based (think sports, outdoor opportunities), and where they have relatives and friends.

Don’t miss out. If it’s time for you to make a move, now is a great time. Keep reading to learn how to make the best move to a location that is the best for you!

What Comes First?

If you’re going to move, get your home ready for sale first. We can assist you with that task, helping you create a to-do list to attend to little things that buyers notice. Plus, nail down must-do bigger items that need attention before your home goes up for sale. Although some sellers don’t care to attend to these items, to get the best price for your home, it’s important to make your home an attractive, move-in-ready property.

BEST MOVE:

Take time to thoroughly go through your home and highlight any issues that a buyer’s inspection may later find. It is wise to remedy any problems before the home goes on the market. Additionally, we can advise you whether a home warranty would help make your home desirable to the greatest number of homebuyers.


BEST MOVE:

Bring in a home stager to make your home as close as possible to looking like a model home. Home stagers do a great job of using what you own to make your home’s spaces look friendly, usable and roomy for potential buyers.


BEST MOVE:

It’s often best to sell your home first, while you look but before you buy in your new location. This isn’t a hard and fast rule, but it allows you to know exactly how much money you have available to buy your next home. Shop while your home is for sale, and if you find that perfect home, consult with your mortgage lender to see if you can make the move financially before selling your current home. A bridge loan may help get you there.

Where Are You Going?

If you’re still deciding where you’re going to move to once you sell your home, you need to do some research…pronto. To judge places to live, it’s wise to visit multiple times to dig into the area, understand transportation and education options, the employment situation, housing types and costs, and true cost of living.

BEST MOVE:

Even if you’ve lived in a specific location before and want to move back, realize that time changes things. It’s still ideal to visit the area and confirm your move choice.Take time to research and make sure the move is a good fit for you—and your entire family. Yes, you can always move again, but as you know, it does require time and money to pick up again if you find you aren’t happy with your new location.We know our area well. We can advise you about the types of homes available here and their price ranges. We can guide you to local information that provides reliable details on schools, shopping, transportation, entertainment, outdoor space, you name it.If you are moving out of our area, we can connect you with a top-quality real estate professional in your new location to assist you in not only getting the home you want there, but the information you need to make an informed housing decision.Some online help is always valuable. Check out websites that provide school information, walkability, traffic and crime reports, etc. Many sites provide the information for free, but some require subscriptions to view details. Remember, we can help you with finding specific details on our local area—just ask.

How To Whittle Down?

If you’re making a move to improve your situation, you want to move with only what matters most to you and your family. Before you put your home up for sale, it’s important to start going through your belongings and categorizing what is most important to keep.

Create areas to collect giveaway items (for charities, friends, family, etc.) while you evaluate your belongings.

If you have items of value you want to sell, start early and don’t underestimate the amount of time needed to sell items online, through garage sale(s), auction or classified sites or even through nearby newspaper classifieds. Have a plan in place for items that don’t sell.

Decluttering can uncover a lot of stuff you didn’t know you had, but still want. Box up items that you currently don’t have room for and store them off-site, either at a friend’s or family member’s home or in a rental storage unit.

BEST MOVE:

When boxing up items for off-site storage, be sure to pack them well the first time. When you’re ready to move with them, you won’t have to open and repack everything to safely survive a longer move.


BEST MOVE:

If you are likely to replace large/heavy items, such as appliances, a dining room set, couch or bedroom set, shortly upon arrival at your new residence, you may want to sell or give these items away before you move to cut down on the hassle and expense of moving them. Look for a local charity that helps homeless and disadvantaged families.
Categories: #Spring Time To Sell, wilmington beach homes, wilmington nc, wilmington nc real estate, wilmington real estate stats, Wrightsville Beach NC

Spring! A Great Time To Move | Best Move Options

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BEST MOVES
More Options Abound For Today’s Homebuyers And Sellers

In this Wilmington NC spring market, making a move may be easier than ever before. Thanks to improvements in the real estate market, employment options, housing choices and personal finances, more people today are moving to where they want to live, not where they have to live.

In fact, moving today is easier than you think. Wilmington NC real estate sellers are finding their priced-right homes selling, allowing them the freedom to relocate down the street, to the other side of town, across the country or around the world. Plenty of buyers are out there right now, taking advantage of our springtime temperatures and increased inventory. Many want to start their new life in a new home by the beginning of summer.

What’s moving today’s buyers? Job situations for many have changed for the better. (As always, employment is a major factor driving home sales.) One reason is that more and more people are working from home, and breadwinners are less tied to living near work. Now they have the flexibility to move to where their family wants to be located, where their favorite activities are based (think sports, outdoor opportunities), and where they have relatives and friends.

Don’t miss out. If it’s time for you to make a move, now is a great time. Keep reading to learn how to make the best move to a location that is the best for you!

What Comes First?

If you’re going to move, get your home ready for sale first. We can assist you with that task, helping you create a to-do list to attend to little things that buyers notice. Plus, nail down must-do bigger items that need attention before your home goes up for sale. Although some sellers don’t care to attend to these items, to get the best price for your home, it’s important to make your home an attractive, move-in-ready property.

BEST MOVE:

Take time to thoroughly go through your home and highlight any issues that a buyer’s inspection may later find. It is wise to remedy any problems before the home goes on the market. Additionally, we can advise you whether a home warranty would help make your home desirable to the greatest number of homebuyers.


BEST MOVE:

Bring in a home stager to make your home as close as possible to looking like a model home. Home stagers do a great job of using what you own to make your home’s spaces look friendly, usable and roomy for potential buyers.


BEST MOVE:

It’s often best to sell your home first, while you look but before you buy in your new location. This isn’t a hard and fast rule, but it allows you to know exactly how much money you have available to buy your next home. Shop while your home is for sale, and if you find that perfect home, consult with your mortgage lender to see if you can make the move financially before selling your current home. A bridge loan may help get you there.

Where Are You Going?

If you’re still deciding where you’re going to move to once you sell your home, you need to do some research…pronto. To judge places to live, it’s wise to visit multiple times to dig into the area, understand transportation and education options, the employment situation, housing types and costs, and true cost of living.

BEST MOVE:

Even if you’ve lived in a specific location before and want to move back, realize that time changes things. It’s still ideal to visit the area and confirm your move choice.Take time to research and make sure the move is a good fit for you—and your entire family. Yes, you can always move again, but as you know, it does require time and money to pick up again if you find you aren’t happy with your new location.We know our area well. We can advise you about the types of homes available here and their price ranges. We can guide you to local information that provides reliable details on schools, shopping, transportation, entertainment, outdoor space, you name it.

If you are moving out of our area, we can connect you with a top-quality real estate professional in your new location to assist you in not only getting the home you want there, but the information you need to make an informed housing decision.Some online help is always valuable. Check out websites that provide school information, walkability, traffic and crime reports, etc. Many sites provide the information for free, but some require subscriptions to view details. Remember, we can help you with finding specific details on our local area—just ask.

How To Whittle Down?

If you’re making a move to improve your situation, you want to move with only what matters most to you and your family. Before you put your home up for sale, it’s important to start going through your belongings and categorizing what is most important to keep.

Create areas to collect giveaway items (for charities, friends, family, etc.) while you evaluate your belongings.

If you have items of value you want to sell, start early and don’t underestimate the amount of time needed to sell items online, through garage sale(s), auction or classified sites or even through nearby newspaper classifieds. Have a plan in place for items that don’t sell.

Decluttering can uncover a lot of stuff you didn’t know you had, but still want. Box up items that you currently don’t have room for and store them off-site, either at a friend’s or family member’s home or in a rental storage unit.

BEST MOVE:

When boxing up items for off-site storage, be sure to pack them well the first time. When you’re ready to move with them, you won’t have to open and repack everything to safely survive a longer move.


BEST MOVE:

If you are likely to replace large/heavy items, such as appliances, a dining room set, couch or bedroom set, shortly upon arrival at your new residence, you may want to sell or give these items away before you move to cut down on the hassle and expense of moving them. Look for a local charity that helps homeless and disadvantaged families.

 

 

Categories: waterfront wrightsville beach, wilmington beach homes, wilmington nc, Wilmington NC homes, Wilmington NC Market Statistics, Wilmington NC Neighborhoods, wilmington nc relocation, Wrightsville Beach NC

1,2,3 Home Buying Kit | Wilmington NC real estate

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HOME BUYER KIT
Before you shop for your first home, read our First-Time Home Buyer Kit to help make your experience a pleasant one!

Click on the tabs below to find everything you need to know about buying your first home. Or, check out our other kits, identified below. Contact us for more assistance. We’ll be happy to help.

Getting
Started
How Much
Can You Buy
Getting a
Mortgage
Buyer Kit | Seller Kit | Loan Kit | Relocation Kit | Contact Us

To start search all Wilmington NC real estate, please visit www.cbbaker.com or mobile.cbbaker.com

Categories: Home Buyer Kit, wilmington nc, Wilmington NC Commercial Real estate, Wilmington NC homes, wilmington nc real estate, wilmington nc relocation, wilmington real estate stats, Wrightsville Beach NC

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

January 2013 Wilmington NC real estate Statistics

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Great news for Wilmington NC real estate!  January 2013 numbers are in and the market is looking great compared to January 2012 .  All the numbers are up except Days on Market, which is a great thing.  It looks like the market is slowly climbing back up.

Total Units Sold Average Sales Price Median Sales Price Total Dollars DOM New Listings
12-Jan 263 201,377 159,950 52,962,276 160 708
13-Jan 332 211,391 168,375 70,181,671 135 911
#  Difference 69 10,014 8,425 17,219,395 -25 203
% Difference 26.24% 4.97% 5.27% 32.51% -15.63% 28.67%

units_sold

 

 

 

 

 

For all the stats from prior year please visit here….

To view our local real estate market, please visit www.cbbaker.com.  The market has been hot.  Homes are getting multiple offers, which is something we have not seen in awhile.  Looking forward to a healthy spring and summer.

Categories: Figure Eight Island, wilmington nc, Wilmington NC Neighborhoods, wilmington nc real estate

Local Wilmington NC Real Estate Analysis by Zip Code

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Great news for the Wilmington NC real estate market.  Just released ~

By R.J. Alex, 2013 President, Wilmington Regional Association of Realtors®

When analyzing six major zip codes in our region – 28403, 28405, 28409, 28411, 28412 and 28451 – an average of the zip codes for the fourth quarter of 2012 shows that:

  • Our list to sales price ratio for 4th Quarter is 96.1%, an increase from 94.1% for 4th Quarter 2011.
  • The average number of days a property remained on the market for 4th Quarter was 121 days, compared to 158 days for 4th Quarter 2011.
  • The median sold price of $189,000 for 4th Quarter has increased 5.0% from 4th Quarter 2011.
  • Our average sales price has decreased by 2.8% from 4th Quarter 2011.
  • Of the 847 sellers in 4th Quarter – 30.4% paid some sort of concession toward the purchase of the house.
  • The average list price of the sold properties is $233,703 and is down 4.8% from 4th Quarter 2011.

The areas of focus in this analysis were:  

  • Selling Price – The price the seller accepts for his or her house.
  • Sellers Concessions – The amount of money a seller of a house contributes toward the buyers purchase.
  • List to Sales Price Ratio – The difference between the list price and the selling price shown as a percentage.
  • Days on Market – The number of days a house remains for sale, from the listing date to the date the property is placed under contract.
  • List Price – The amount of money a home is listed on the market.
  • Median Price – The middle price of all the properties sold in the given time period

4Q 2012 Zip Code Report - CHART

28403 Zip Code

  • The average selling price, of $193,951 has decreased 9.3% from 4th Quarter 2011 average selling price of $213,785.
  • 21% of sellers paid a concession, compared to 25% in 4th Quarter 2011. The best of all zip codes.
  • The average list price of $206,816 has decreased 11.0% from 4th Quarter 2011 average list price of $232,379.
  • The average number of days a property remained on the market for 4th Quarter was 161 days, compared to 181 days for 4th Quarter 2011.
  • The median sold price of $162,500 for 4th Quarter has increased 2.5% from 4th Quarter 2011.
  • Sold homes in the 4th Quarter received 93.7% of the asking price, an increase from 92.0% for 4th Quarter 2011.


28405 Zip Code

  • The average selling price, of $264,738 has decreased .01% from 4th Quarter 2011 average selling price of $264,936.
  • 26% of sellers in 4th Quarter paid a concession, compared to 22% for 4th Quarter 2011.
  • The average list price of $284,578 for 4th Quarter has decreased .09% from 4th Quarter 2011 average list price of $287,135.
  • The average number of days a property remained on the market for 4th Quarter was 130 days, compared to 182 days for 4th Quarter 2011.
  • The median sold price of $150,000 for 4th Quarter has decreased 9.1% from 4th Quarter 2011.
  • Sold homes in 4th Quarter received 93.03% of the asking price, an increase from 92.2% for 4th Quarter 2011.


28409 Zip Code

  • The average selling price, of $252,711 has decreased 4.0% from 4th Quarter 2011 average selling price of $263,235.
  • 35% of sellers in 4th Quarter paid a concession, compared to 33% in 4th Quarter 2011.
  • The average list price of $258,589 for 4th Quarter has decreased 8.0% over 4th Quarter 2011 average list price of $281,212.
  • The average number of days a property remained on the market for 4th Quarter was 87 days, compared to 142 days for 4th Quarter 2011. The best of all zip codes.
  • The median sold price of $227,121 for 4th Quarter has decreased 13.0% from 4th Quarter 2011.
  • Sold homes in 4th Quarter received 97.7% of the asking price, an increase from 93.6% from 4th Quarter 2011.


28411 Zip Code

  • The average selling price, of $262,073 has increased 3.6% from 4th Quarter 2011 average selling price of $253,001. The best of all zip codes.
  • 45% of sellers in 4th Quarter paid a concession, compared to 45% in 4th Quarter 2011.
  • The average list price of $273,299 for 4th Quarter has increased 1.6% over 4th Quarter 2011 average list price of $269,054. The best of all zip codes.
  • The average number of days a property remained on the market for 4th Quarter was 109 days, compared to 177 days for 4th Quarter 2011.
  • The median sold price of $240,500 for 4th Quarter has increased 20.6% from 4th Quarter 2011. The best of all zip codes.
  • Sold homes in 4th Quarter received 95.8% of the asking price, an increase from 94.03% for 4th Quarter 2011.


28412 Zip Code

  • The average selling price, of $181,470 has increased 2.0% over 4th Quarter 2011 average selling price of $177,917.
  • 29% of sellers in 4th Quarter paid a concession, compared to 31% in 4th Quarter 2011.
  • The average list price of $188,012 for 4th Quarter has increased 1.2% over 4th Quarter 2011 average list price of $185,863.
  • The average number of days a property remained on the market for 4th Quarter was 115 days, compared to 157 days for 4th Quarter 2011.
  • The median sold price of $165,000 for 4th Quarter has increased 13.0% from 4th Quarter 2011.
  • Sold homes in 4th Quarter received 96.52% of the asking price, an increase from 95.7% for 4th Quarter 2011.


28451 Zip Code

  • The average selling price, of $205,675 has decreased 7.6% from 4th Quarter 2011 average selling price of $222,492.
  • 23% of sellers in 4th Quarter paid a concession, compared to 33% in 4th Quarter 2011.
  • The average list price of $209,787 for 4th Quarter has decreased 8.7% over 4th Quarter 2011 average list price of $229,874.
  • The average number of days a property remained on the market for 4th Quarter was 132 days, compared to 115 days for 4th Quarter 2011.
  • The median sold price of $195,940 for 4th Quarter has increased .01% from 4th Quarter 2011.  
  • Sold homes in 4th Quarter received 98.0% of the asking price, an increase from 96.79% for 4th Quarter 2011. The best of all zip codes.

Summary for Real Estate Consumers
As we continue on our path to recovery, two out of six zip codes reported an increase in the average sales price. We have four zip codes that have the List to Sales Price Ratio above 95% – this is the second quarter that we have had this ratio. A good sign that real estate is recovering is that clients are getting closer to their asking price. All zip codes, except 28451, reported fewer days on the market by an average of 31 days.

For all the Wilmington NC real estate with buyer and seller advice please visit www.cbbaker.com

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Categories: Real estate by zip code, wilmington nc, Wilmington NC Market Statistics, Wilmington NC Neighborhoods, wilmington nc real estate, wilmington real estate stats

Why Is It Dangerous To Overprice My Home | Wilmington NC real estate

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Why is it dangerous to overprice my home?

Sometimes sellers are tempted to test a higher price at first to see if they’ll be lucky enough to find an uneducated buyer willing to pay. Unfortunately, experience shows this “Why not?” pricing strategy rarely pays off. Instead, asking the right price from the start avoids the many dangers of overpricing.

The right sales price is based on several factors: size of the house and its special features and amenities, recent home sales, demand for homes in your area and prices of similar homes currently on the market.

Although you may have decorated lovingly or renovated extensively, those improvements may have only a small effect on the market value of your home. In fact, personalized decorating can even slow a sale unless the style has wide appeal.

Overpricing Dangers

Here are 8 proven reasons why it’s dangerous to overprice your home:

  • You will miss out on pent-up demand.
    Most activity on a listing comes within the first 30 days. An initial high price can discourage buyers – causing you to miss out on pent-up demand – or tempt them to wait for the price to come down.
  • You will reduce buyer pool.
    Too high a price will eliminate a whole class of qualified buyers. Many buyers know just how high they can go and don’t even look at homes priced above their ceiling.
  • You might turn off buyers.
    You may experience few or no showings because some prospective buyers who can afford the price won’t waste time with an overpriced listing. They know they can get more house for their money elsewhere.
  • You could sell the competition.
    Overpricing helps sell other, more competitively priced homes first. Your home may be compared to underscore what a good deal another home is.
  • You could frustrate prospects.
    Prospective buyers who might stretch their best offer can become frustrated when they can’t buy the home they want at a fair market value – only because an unreasonable seller insists on accepting only a premium price.
  • You will frustrate your own timetable.
    You could become frustrated, too, when your house fails to sell in a reasonable amount of time, leaving your plans in limbo. Only a price reduction is likely to help sell your house faster and meet your “move out” timetable.
  • You will raise doubts about hidden problems.
    If your overpriced house stays on the market for a long time, it may eventually be seen as “stale inventory” which can suggest structural or mechanical shortcomings, even after you lower your price.
  • You will risk lender rejection.
    If you do get a sales contract, the contract may fall through because of a too-low appraisal. The buyer may not be able to borrow enough to proceed with closing.

If you are thinking of selling your house, give us a call or send an e-mail. We’ll be happy to maximize your return by helping you set the right price.

Search all Wilmington NC real estate on www.cbbaker.com  910-202-3607 bakerwayneassociates@ec.rr.com

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

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