The 6th Annual Justice 4 ALL day will be this Friday March 1, 2012 from 7 am – to 7pm. 

North Carolina residents may call in with any legal question they may have and they may be offered referral resources.  The NC Bar lawyers will have the phones manned with volunteers.  There are  7 call centers in NC.  These are the numbers to call for your area of the State.

N.C. residents who reside in the viewing area of the stations are encouraged to call the toll-free numbers and view coverage of the event throughout the day. Personal visits are not permitted, and calls to the call center’s normal phone numbers cannot be transferred. Asheville: (800) 289-0013; Charlotte: (866) 616-4255; Greensboro: (877) 391-6179; Greenville: (888) 616-0614; Raleigh: (800) 424-9725; Wilmington: (888) 442-3428; Spanish-Language Call Center: 8:30 a.m.-5:30 p.m., (855) 455-4255.

If you need Real Estate advice, please call us 800-497-7325-3607 or email bakerwayneassociates@ec.rr.com – please visit  www.cbbaker.com

Do the walls seem to be closing in on you? Are your cupboards and closets overflowing with stuff? Can you see more toys than flooring at your feet? If so, you need more space. And your choices are remodel your home, move to a larger one, or move to a home that you want to remodel.

How can you decide which approach is best for you? Start by considering your priorities. If you are basically happy with your current location, the relative cost of your options is likely to make the decision for you.

Wish List

Take an inventory of your current house to determine whether remodeling will work for you. Look at each room. Do all of them need help? If so, remodeling may be too expensive and a move might be your only practical choice. If just one area of the house needs work that can be accomplished by bumping out a wall or adding on, then remodeling may be the correct move for you. Consider what you would have to do to the basic structure of your house to arrive at your dream home.

Cost

How much money can you afford to spend? Would you need a construction loan to remodel, or would you take money out of your home’s equity? If you must borrow money to remodel, will the cost of the loan, combined with your existing mortgage payment, be more than the monthly payments for a new home with the space and amenities you want? Moving may be easier and less expensive.

Calculate how much it would cost you to replace your current home with one that meets your needs. What improvements could you make to your current home for the same investment? Will a new addition of, say, a master bedroom suite, be enough to satisfy your desire for a new look and more space? Or do you need more living space all over the house?

Is your desire for newer amenities the driving force for a new home? If you’re looking to modernize wiring and plumbing or increase hi-tech capabilities, it might be better to move into a house that already has these features.

Payback

Most homeowners start remodeling with the kitchen or a bathroom, both of which can cost a fair amount of money to upgrade but also show better-than average payback at sale time. Will it be a worthwhile investment? The answer depends on the type of payoff you’re looking for.

If you decide to remodel, don’t expect to recoup the funds spent on home improvements when you eventually sell the property. Some remodeling projects are likely to be far more financially rewarding than others, yet few yield a 100% return. If you can keep costs down, however, perhaps by doing some of the work yourself, your project might pay you back in full at sale time, maybe even show a profit. Remember, though, the primary reason for remodeling is to meet your living needs, not to make your house worth more.

The point of some projects is simply to bring a house up-to-date. Remodeling a 1960s-era kitchen would make your home more competitive (at sale time) with 21st Century homes. A new kitchen would almost certainly increase your home’s value compared with neighborhood homes that haven’t been upgraded.

Recognizing Limits

Don’t make the expensive mistake of remodeling your house just to sell it faster or at a higher price. You’ll waste your money, frustrating your ability to move into a home that better meets your own needs. Put your current home on the market in clean, well-cared-for condition, but save your money to redesign or decorate your next, more-spacious house.

Also, be careful when remodeling or expanding your home that you don’t over-improve. Remember, your home’s value reflects (and is limited by) the value of homes in your immediate neighborhood.

House Or Community?

For some homeowners, the community or lifestyle they enjoy in their current home is a great reason to stay put. You can’t buy a sense of community — it’s something you develop over the years. If you are unwilling to trade familiarity, friends and neighborhood for a larger home in another area, then remodeling could be the best solution.

As you consider remodeling, however, be sure your current neighborhood can carry the evolved house. If yours is the only house in the community that has been bumped out or up, it may be difficult to sell eventually, and you’re not likely to recoup much of your remodeling investment.

Don’t forget to check local zoning laws and homeowner association limitations if you intend to add on to the dwelling. If your house already takes up a large portion of the lot, local zoning may limit how much more house you can build.

As you consider improvements to your home, keep in mind that landscaping and exterior appearance will attract buyers to your home. Once they get inside, they’ll be looking for functionality, durability and convenience.

Before taking on remodeling projects or major additions to your home, give us a call to see if we can help you find an existing home that meet your needs.

The weekend gets better and better every year. Make plans to enjoy part of it or all of the festivities.  The Christmas tree lighting ceremony and Santa will be at Town Hall on Friday November 23 at 5:45 pm.  The Anchors Away Party sponsored by  Atlantic Marina will be at  7:00 pm on Friday at the Blockade Runner Hotel.  $25 per ticket and open to the public. Pay at the door or purchase tickets online.

This year Santa has asked for help collecting gifts for Port Human Services, a non-profit organization that provides shelter, clothing, and other necessities in addition to counseling and employment assistance for men and women participating in their substance abuse recovery program.

Saturday there is a festival in the park from 10 – 4 pm.  Something for everyone.  The Flotilla starts at 6:00 pm followed by an awesome fireworks display. 

 This year the People Choice Award will have texting voting.  Each boat will have a number.  Just text  to 24587 and enter boat and number.  eg. boat25

Enjoy and have fun… If you see any Wrightsville Beach Real estate you like, go to mobile.cbbaker.com and search by street for the listing.  Or online at www.cbbaker.com   For a full list of activities, please visit http://www.ncholidayflotilla.org/

A really productive garage sale takes a bit more than stapling up a sign and opening the garage doors. As long as you’re holding a sale at all, make it as big as you can. If you can persuade neighbors to join you in a sale effort, so much the better. Here are some tips that will help you get the most out of your efforts:

• Go through your whole house, sorting out items you can do without. Be ruthless. Plan for the sale to run at least two days; weekends are ideal.
• Advertise ahead of time: Place an ad in your local paper. Distribute fliers. Stick notices on store bulletin boards and street posts (where permitted). Tell your friends and neighbors you’ll be selling your “dear old rocker,” etc. Ask friends to come and assist you on sale days.
• Price your things sensibly (considering the market value of a new item plus the age and condition of your sale item). Polish, clean, repair or mend everything for sale. Mark the price for each item in bold print and expect some bargaining from buyers.
• Clean up the garage or yard and provide good lighting. Place your sale items on tables spaced for easy passage throughout the garage. Put key items (furniture, appliances, antiques, attractive toys, etc.) up front and clearly visible from the street. Hang clothes on racks and make a screened dressing room available for try-ons.
• For your grand opening, float balloons in your yard near the street, stretch streamers around your garage door and hang wind chimes here and there. Provide a low-key musical background. Set up a free refreshment stand. Clear the curbside and drive for parking.
• Have cash on hand to make change. Accept checks drawn only on local banks and require two IDs.

Have a nice sale! We have information to help you in many ways as you contemplate relocation. Call or e-mail us and put our expertise to work for you.  Anything left over? Donate it.  There is a need out there for everything.  Visit www.cbbaker.com for more Wilmington NC real estate guidance.

Foreclosures are a way to get quick equity in a home.  The process takes longer than a traditional sale but if you are willing to wait to purchase, it can be done.

We will provide you with free daily updates on Foreclosures and Short Sales in the Wilmington area.  Save money and enjoy quick equity when you purchase a foreclosed  or a short -sale home.  You provide the price and what you are looking for, and we will put you on our automatic  listing alert service directly from our MLS system, so that only the homes that match your criteria will be emailed to you.  At your convenience look through the listings  and if one catches your eye, call us and we will make arrangements with the bank to get more information about the home. It’s just that simple.  Email us at bakerwayneassociates@ec.rr.com for more information and to sign in.

Foreclosures in 28401

Foreclosures in 28403

Foreclosures in 28405

Foreclosures in 28409

Foreclosures in 28411

Foreclosures Wrightsville Beach

Foreclosures in Kure and Carolina Beach

• Don’t rush into the transaction. Buyers searching for homes in tight markets may feel pressured to make an immediate offer.
  Solution: Become familiar with the local market before making a purchase offer.

• Ask questions. First-time homebuyers, by definition, simply don’t have home buying experience. If you don’t know, ask. It may be uncomfortable, but let’s face it…a broker cannot answer an unasked question.

• There’s no such thing as the “ideal” house. Many buyers run themselves, not to mention their brokers, ragged as they repeatedly dismiss homes that meet most…but not all…of their requirements. A buyer who turns down a house that meets most, but not all, of their criteria may miss out on the best available property as well as good financing, should market conditions change.
  Solution: First-timers should definitely view many different homes as possible before making an offer. However, they should definitely not make an offer on the first home they like…but also, and more importantly, they should not hesitate to make an offer when they find a home they love.

• Don’t “Overbuy”. Many First-timers are routinely seduced into becoming “house poor”. That is, they spend so much for a home that they must forego annual vacations, restaurant meals and other forms of entertainment.
  Solution: Get Pre-approved with a lender. This can help determine a reasonable target price range and also identify the mortgage programs which can work best for you.

• Don’t wait for that 20% down. It’s an admirable goal, but it’s often years in the future for many first-time buyers. Instead — especially in markets with rising values — buy now with as little down as possible. Consider VA, FHA and other loans with private mortgage insurance (PMI).

• Be realistic. It’s tough to ignore a home’s curb appeal, but what about practical matters? Is there enough space? Is there off-street parking? Is the construction solid in good shape? What about maintenance costs? How far to work? It may seem like boring stuff…but it’s important none-the-less.

• Find out about zoning. Is the property next door zoned for a 24-hour service station? Fire station? Super Wal-Mart? Ask the broker about zoning for the property and the surrounding area. Find out before you buy. Otherwise you might be stuck with the home of your dreams…right next door to the new landfill.

• Don’t ignore representation. Chances are good that the seller has a broker. Who’s representing you?
  Solution: A buyer broker, an attorney, or both can give you needed representation at the bargaining table.

• Don’t Skip an inspection. A professional home inspection is simply a “must” whether you are buying an existing home or a new one. Speak with inspectors before you enter the marketplace to see how they work, what they cost, and what they recommend.

• Don’t under-estimate closing costs. Closing costs comprise much of the expense when purchasing a home. In many cases, the closing costs can be as much (if not higher) than the down payment amount being required.
  Solution: Examine your good faith estimate provided by your lender. Talk to people who have recently been through the buying process. Ask about fees you don’t understand. If some of the fees seem excessive, ask the lender if they can be waived (or at least reduced). Many lenders will work with you to secure your business. Just be realistic. If you feel that the lender is “taking advantage” of you, consult another lender.

Wrightsville Beach Homes, Wrightsville Beach NC Real Estate

View Wrightsville Beach Listings

Please feel free to contact us with any questions or requests about Wrightsville Beach NC homes for sale or Wrightsville Beach NC real estate, 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. I know where the best shopping is and all the main attractions. If you are looking for a second home or investment property in Wrightsville Beach, there are still real deals in the great coastal area, but you will need a real estate expert to help you. Baker Wayne and Associates are experienced real estate professional’s who has decades of home buying and selling experience in the Wrightsville Beach area. For true local and knowledgable service in the Wrightsville Beach real estate market, contact our Team today.

The breathtaking island of Wrightsville Beach stretches four miles from Masonboro inlet on the south to Mason inlet on the north. The clear waters off Wrightsville Beach often resemble those of the Caribbean. The city limits of the town of Wrightsville Beach today encompass not only the barrier island but also Harbor Island and a small portion of mainland. Most of the early visitors were fishermen and hunters traveling to the Island by boat. Already the history of Wrightsville Beach, NC was being built on an appreciation of nature and Wrightsville’s bounty. You will truly be amazed at the sunrises on the Atlantic and calming sunsets on the Intracoastal Waterway. Wrightsville Beach, NC offers boating, surfing, fishing or simply true relaxation by the water’s edge. And best of all, Wrightsville Beach is accessible by I40 or our international airport in Wilmington, just minutes away. Wrightsville Beach has it all!

 It is a great time to buy if you know where to look, as a real estate expert in the Wrightsville Beach market, I’m here to help you find a great property at a great price, please contact me today for an up to date market report.

For all your Wrightsville Beach real estate needs, please give Baker Wayne and Associates a call at 1-800-497-7325 x 3607 or email bakerwayneassociates@ec.rr.com

Kitchen remodeling is among the most popular projects undertaken by homeowners — and the most profitable in terms of recouping the investment when the home is sold. One of the major decisions faced by anyone remodeling a kitchen is choosing a countertop.

Major tax law changes enacted In 1997 can mean huge tax savings if you play the game right. Here are seven smart ways you can use to take advantage of Uncle Sam’s latest tax breaks for homeowners:

1. Sell Your Current Home

Own and live in your home at least two of the last five years — then sell it. You’ll owe absolutely no tax on the profit (capital gains) for gains up to $500,000 (if married filing jointly) or $250,000 (if filing singly). There’s no longer a need to wait until you’re age 55 to sell or at any age to “roll over” your profit by buying a home that costs at least as much as the home you sold.

2. Retire On A Budget

Now when you move, you can replace your old home with one that fits your needs and your budget. Perhaps you want less house because your children have left the nest, or you’ve retired or there’s been a divorce. Under the new tax rules, you can quit worrying about paying a hefty capital gains tax when you scale back.

3. Relocate Without Renting

Before, people who moved to lower-cost-of-living areas had three choices: (1) convert the old home to a rental unit until moving back; (2) sell the old home and buy a “mansion” in the new town to defer paying capital gains tax; or (3) sell the old home, buy a similar-size home in the new town or rent a home and pay capital gains tax. Now, those who transfer can sell a home as often as once every two years and still claim the capital gains exemption on the profits. There is even a special exception to the two-year rule if you must sell your home due to a change in place of employment. This helps families that have frequent job-related moves to different parts of the country.

4. Take Your Freedom Overseas

If your family follows a job to a foreign land, you can sell your home here before you leave without rushing to purchase a new home immediately. Then, when you return, you can find a home at your convenience that fits your current needs, rather than trying to squeeze back into your old home before you can sell. If you have already been away, but lived in your old home for two of the last five years, you can still benefit from the tax law change if you sell now.

5. Selling Serially

Young families and those inclined toward fixing up can buy a home, improve it, and sell it again two years later at a profit without paying taxes on the gains. Repeating the cycle is now a good way for new homeowners to build equity toward the dream home they want. Also, investors can buy a property, rent it out, then convert it to their principal residence; live there for two years and then sell it, keeping the profit. However, depreciation allowed on the rental after May 6, 1997 will be taxed at 25%.

6. Vacation Villas

Capital gains taxes on summer homes, ski lodges and other second residences now can be avoided if you move in for two of the five years before the sale. First, claim tax-free profit when you sell your main home. Then move into your vacation home and make it your primary residence for at least two years. When you sell the vacation home, you can pocket those profits, too.

7. Try A Tax Deferred Exchange

Section 1031 of the Internal Revenue Code allows property owners to exchange one qualified property for another without owing any tax. Let’s say an investor has a property with several small rental units. The investor can exchange that multi-unit property for a large house, which should be rented out for at least a year. Then the investor can move into the house and convert it to a primary residence. That way, any gain from both the multi-unit property or the large house is tax free, except for rental depreciation after May 6, 1997. Note it is necessary for a qualified intermediary to handle a 1031 exchange transaction.

Here’s some helpful advice on record keeping: Even though most sellers can now buy up or buy down with little worry about tax implications, profits that exceed limits are taxable in the year of sale. And some states are continuing to tax capital gains from home sales. So don’t be tempted to throw away receipts you collected to help lower taxes on capital gains. Your old receipts can help serve as proof of capital repairs, pre-sale fix-ups and other expenditures that reduce your gains and lower your taxable profits.

We invite you to call us with any real estate questions.  If you would like to search all Wilmington NC real estate please visit www.cbbaker.com or on your mobile at http://mobile.cbbaker.com

What do real estate agents mean when they say the three most important factors in selecting a house are “location, location, location”?

The house is wonderful! But before you buy, carefully check the location to be sure this is the house you want to buy.

• Consider destinations

Where will family members go most often from this new location? How easy is it to reach those places from here? How accessible are schools, churches, grocery stores, medical care, public transportation, shopping malls, and neighborhood services?

• Be sure rooms have a view

What is the view from the house and yard? Is the yard right for your anticipated activities? What uses are possible for nearby undeveloped land? Is a new road planned?

• Check around the clock

Is rush hour traffic a problem? What will be the impact of special events like local high school games or church picnics?

• Crash test the driveway

How easy is it to get into and out of the driveway?

• Be service conscious

What utilities serve this property? Are the rates competitive? Do you want an all-electric house, or do you want gas or oil heat? Where will you get your mail? Where are the easements?

• Dig below the surface

Is the soil stable? Is part of the property on a flood plain — if so, what is the history of floods on the property?

• Visit the neighbors

How will you fit in with the neighbors? Do people seem to be friendly? Are houses well-maintained?

• Read the fine print

If the community has special by-laws or architectural controls over changes to a house, what are the pros and cons?

Make a list of the positive and negative aspects of each property as you tour it. Assign priorities to important elements of the house’s location.

Do you have home questions about a specific location? We can help. Call or e-mail us now. Kay Baker 910-202-3607 or kaybaker@seacoastrealty.com

To search all Wilmington NC real estate please visit www.cbbaker.com