Wilmington NC makes the news again.  This time for being the #79th  most searched real estate market on Realtor.com website for September.  This is good news.  The market has been slowly picking up and the buyers are starting to look again.  With the interest rates below 4%, now more than ever is a great time to buy.  Realtor. com was one of the first real estate websites that the public could search all over the United States.  We have been with them for over 17 years.  It is a great tool to have to expose your properties to the public.  In addition to the regular service Realtor.com provides, we also “Showcase” our listings so that we can add more information, virtual tours  and photos to each or our listings.  We also have “Featured Homes” on Realtor.com.  When someone types in Wilmington NC in the search term, our listings are featured at the top and bottom of the screen in a revolving sequence.  We do get more public hits on the Featured Homes and think that this helps increase exposure on each home.  Being progressive and proactive are vital in this real estate market, and Kay Baker and Associates have always tried to stay above of the trends.

Riverfest logo 2011 from www.wilmingtonriverfest.com

The first Riverfest was October 1979.  A group of Wilmingtonian’s who were interested in the arts and wanted to resurrect the feeling of community in Downtown Wilmington brainstormed on how to bring back the alive nature of the downtown riverfront.  The area had become in disrepair and not family friendly.  The beautiful old buildings and the setting on the Cape Fear River deserved something better than the current conditions in the 1970′s.  The group of 40 volunteers put together the first Riverfest  with a budget of $5,500 (all donations).  This would be a free festival and would include trolley rides, 4 concessions and fireworks.  It was a huge success, thereby starting the tradition of holding the Riverfest every year since then on the first week of October.  This years festivities have grown even larger than past celebrations.

According to the Riverfest 2011 Reflections website ”

Over thirty years later Riverfest consists of: Twenty plus committees, over 300 volunteers, a budget of $90,000, over 200 craft vendors, 35 concessions booths, entertainment on various stages, Saturday night fireworks, Run the River 8K, the Great Wine Waiter’s Race, A Children’s Area, and more than 6 sporting events with contests for all ages. The end result is a half mile of free family entertainment, dependant on sponsorships and donations from community businesses and organizations. The economic impact on Riverfest on the surrounding community has been estimated at over three million dollars with attendance in excess of 100,000 per year.

As delightful as the festival outcome is, the end result is awarding of scholarships for marine related studies at Cape Fear Community College. The ultimate goal of Riverfest is to increase the amount of scholarship funds each year to Cape Fear Community College.”

It is wonderful to see such a great event in the fall in Wilmington NC.  The arts, cultural scene, music scene and the picturesque background of the city, is something not all cities can boast about.  Please join us in celebrating this years Riverfest ~ Reflections on the River October 7th – 9th.  For all the highlights and schedules please visit  www.wilmingtonriverfest.com

If you see any historic homes or any neighborhoods  that catch your interest, give us a call and we can show you the homes available in the area.  Feel free to visit http://www.cbbaker.com or text 14059 to 44133 to view listings on your phone.  Above all, welcome to our town and may you feel the Southern Hospitality all weekend.  Enjoy.

5 Basics for Building Wealth

Through Investing in Rental  Property

There are some people that have decided to rent instead of purchase until they find exactly the right house and price for them.  The flip side of this coin is that there are renters out looking.  There are homes and investor properties that are priced right, that could produce a positive cash flow.  If you have been thinking about becoming an investor, now might be the time. 

With a relatively modest amount of capital and income, you can profit from real estate investing – once you recognize the chief elements of the rental-property marketplace:

• Taxes may be inevitable, but they are also controllable. In rental properties, you currently benefit from cash deductions for financing, management and operating costs as well as non-cash deductions for depreciation. You also benefit from possible lower long-term capital gains tax rates or tax deferral.
• Leverage involves multiplying your profits by financing as much of your investment as possible and reducing your down payment, thereby limiting the amount of cash tied up and increasing your tax deductions.
• “Positive cash flow” means income either before or after taxes. A savvy investor knows how to turn “negative cash flow” into positive, by maximizing rent through various strategies and through depreciation deductions.
• Appreciation, the result of selling at a higher price than you bought, appears to be a trend that shows no signs of abating. In investing, the important thing is to choose property in a location where prices are rising more than in other areas.
• Equity, the difference between the property value and the remaining loan balance, brings a profit either through refinancing or sale. Timing is a key consideration in maximizing equity profits, since the longer you own property, the fewer tax breaks available to you.

If you’re thinking about investing in your future through real estate, call or e-mail us for professional assistance in finding the right property for your situation.  Please feel free to visit www.cbbaker.com.  You can view properties by price, neighborhood, map and zip code.  If you have a question, do not hesitate to contact us.

jimrlong.us

September 11, 2001 will stay in our minds and hearts forever.  We have not forgotten.  Take time this weekend to reflect on the 10 year anniversary, either quietly by yourself or with others in your community.   Reach out to those that were directly affected by the events.  Keep in your thoughts the first responders who help keep us safe, and the service men and women who are continuing to fight to keep our freedom.  If you would like to know where events are in our area these are some of the memorial services in Wilmington NC on Saturday September 11, 2011 to recognize the 10th anniversary of 9/11/01.

9/11 “We Remember” Commemorative Service

 Sun, September 11th 2011 – Candlelight Vigil    7 pm – 8pm
Wilmington Convention Center

9/11 Memorial  Service

- Cape Fear Community College - \ Safety Training Center at the North Campus in Castle Hayne beginning at 8:30 a.m

http://cfcc.edu/blogs/news/

9/11 Rememberance Ceremony

UNCW Kenan Auditorium – 6: 00 pm – Mayor Bill Saffo and other speakers.  Music by UNCW Dept. of Music

Theater Performance: Remembrance Monologues, 7:30 p.m., Kenan Auditorium

9/11 10th Anniversary Memorial Sunday

9 a.m. near the POW Memorial at 30 Government Center Dr., Bolivia

9/11 Memorial Cruise

Wilmington Water Tours – Downtown Wilmington (910)338-3134

1:30pm – Live music featuring Lindsay Bennet and a complimentary toast to remember those we have lost.

4:00pm – Live music featuring Jamie Michelle and a memorial Wreath laying to Honor those we have lost.

Pray for peace.

The survey is in and there are some low cost renovations that you can do to your home that will bring you more money back at the closing table.  Before you start,  go around your house and your yard and take pictures that you think would look good when the house is listed.  Take a good look at these pictures and you can pick out the things that need to be changed.  Like they say: a picture is worth a 1000 words.  You will see things that you walk by everyday and do not even catch your eye…. but they will catch a potential buyers eye.  The results are interesting and can help you prepare your home for sale.  We can help you with each of these steps.

The marketing company surveyed nearly 600 real estate professionals to discover which DIY home improvement projects give sellers the biggest return for their buck. Here are six projects under $1,000 (amounts are estimated) that made the list.

1. Cleaning and decluttering.Remove any personal items, unclutter countertops, organize closets and shelves, and make the home sparkling clean.
   • $290 Cost
   • $1,990 Return
2. Brightening.Clean all windows inside and out, replace old curtains, update lighting fixtures, and remove anything that blocks light from the windows.
   • $375 Cost
   •  $1,550 Return
3. Smart staging.Rearrange furniture, bring in new accessories and furnishings to enhance rooms, incorporate artwork, and play soft music in the background.
   • $550 Cost
   • $2,194 Return
4. Landscaping enhancements.Punch up the home’s curb appeal in the front and back yards by adding bark mulch, bushes, and flowers and ensuring current plants and grass are well-cared for and manicured.
   • $540 Cost
   • $1,932 return
5. Repairing electrical or plumbing.Fix leaks under the sinks, remove any mildew stains, and ensure all plumbing is in good working condition. Update the home’s electrical with new wiring for modern appliances, fix any lights or outlets that don’t work, and replace old plug points with new safety fixtures.
   • $535 Cost
   • $1,505 Return
6. Replacing or shampooing dirty carpets.Steam-clean carpets, replace any worn carpets, and repair any floor creaks.
   • $647 Cost
   • $1,739 Return

Realtor Magazine : Excerpted from HomeGain’s 2011 Home Sale Maximizer Survey: www.homesalemaximizer.com.

Let us know if you would like help getting your home ready for the market.  That is our expertise and we love “before and after” photos!  www.cbbaker.com for all your Wilmington NC real estate needs.

Realtor.com announced that Wilmington NC was the 69th most searched market for real estate.  Realtor.com has it’s own statistics for searches performed.  The median price of homes were 239,900 which is a bit lower than 2010 but still a healthy average compared to the national average of 189,900.  Inventory levels are down from 2010 which could be in part to all the foreclosures that flooded the market last year. 

Kay Baker & Associates uses Realtor.com in their marketing plans by  showcasing our listings and we have 12 featured home  spots that will showcase our homes when someone types in the search criteria of “Wilmington NC”.  We feel that this increases the exposure of our listings tremendously.  If you are thinking about selling your home, let us show you our aggressive marketing plan.  Search all the Wilmington NC real estate listings on realtor.com and on www.cbbaker.com

This weekend is the time to buy tax free items.  August 5 – 7th 2011.

August Sales Tax Holiday

Studebaker John

The 16th annual Blues Festival is this weekend.  Everywhere around town, the Blues shall be heard… The kick off party is on the Henrietta III at 7:30pm Friday July 29.  There will be music on the dock by Rick Toby.  Catered heavy appetizer buffet, cash bar and a 2-hour sunset cruise along the historic Cape Fear River.  Tickets are available at Wilmingtontickets. Three different Blues Bands will perform on the cruise.  Post Cruise party at Rusty Nail.   For a full list of events and bands please visit www. capefearblues.org.  The weekend will be fun and eventful. Talent everywhere.

Studebaker John and the Hawks… listen here….

While you are in town, if you see real estate that interests you, let us know.  On your phone text 14059 to 44133 to search Wilmington NC real estate or go to www.cbbaker.com.  Have fun!

Safe At Home For The Summer

The song says that living is easy in the summertime, but don’t let the lazy days of summer lead to accidents. Keeping you and your family safe is just a matter of following simple precautions. Here are some tips for ensuring your family’s good times and good heath:

• Beware of the cutting edge. Lawnmowers and other power tools can cause serious injuries. When you’re mowing your lawn, keep children out of the area, and don’t allow children to ride on a mower.

• Before mowing, take the time to move outdoor furniture, toys, sticks or other obstacles out of the way. Especially if you have children or pets, you don’t want to turn your back on an idling mower to move objects.

• If your older child will be helping you out this summer by mowing the lawn, make sure he or she understands how to safely operate the equipment. Read all instructions and warning information together.

• Always turn a mower off before attempting to unclog debris from the blade.

• Tend to the fire. Grilling food outside is a wonderful way to escape the heat of the kitchen. Keep children away from grills or open fires. You should always have water on hand in case a fire gets out of control.

• Lighter fluid should be off-limits for children.

• Be safe about food handling. Never return cooked meat to a container that has held raw meat. Keep coolers in the shade and add ice to them as needed. Keeping drinks and food in separate coolers will cut down on the number of times the food cooler is opened.

• Watch out for other living things. Insect bites and bee stings can be reduced by dressing children in shoes and clothing that is light in color. Make sure you know what is growing in your yard. Teach children about poisonous plants and berries so they know what plants not to touch, pick or eat.

• Beat the heat. The dog days can be deadly. When the temperature tops 90 degrees, fans alone will not be able to cool a home. If you don’t have air conditioning, get out of the house and head for air-conditioned public places, such as libraries or shopping malls. Taking a bath or shower in tepid water will help you keep your cool. Stay well-hydrated, and make a point to check on elderly friends or neighbors who may be especially susceptible to heat-related illness.

Best wishes for a safe and happy summer!

More Credit Score and Credit Report Transparency | Mortgage Match News.

According to Mortgage Match new rules will make it mandatory for Mortgage Lenders to give mortgage applicants credit scores and credit report factors used during the loan application process.  If a Mortgage Lender quotes an applicant an interest rate and points that the loan will cost and there is a difference between interest rate and costs quoted to other applicants the loan officers will be required by Federal law as of July 21 to:

“–Tell you that you received a less favorable offer because of negative information in your credit bureau files;

–Provide you the actual credit scores used for your rate quote;

–Disclose the name and contact information of the credit reporting company that supplied the scores that led to your less favorable quote;

–Provide consumer education materials explaining credit scores, how they are used, and how your own score ranks against other applicants, plus the credit file factors that may have depressed your score. For example, if maxed-out credit cards and late payments are in your files, they could play significant roles in lowering your credit scores” per Mortgage Match.

The applicants will be able to have access to their credit report and the whole loan application process will become more transparent for the applicant.  Consumer education materials will be available for the applicant, so they can see why they were turned down, or received a higher interest rate.  They will have the right to obtain a  free credit report if turned down for the loan.