Wilmington NC Real Estate Guide

Did you miss the $8,000 Stimulus deadline to purchase a new home?  If you did Coldwell Banker Corporate has announced a Buyer Bonus plan that could help you get a credit on a new home.  

Purchase a participating home between May 1, 2010 and July 31, 2010 and the seller will refund 3% of the accepted offer price up to $8,000 to you as a credit at closing.  Look for the “Buyer Bonus Program” homes online or call us and we can help you with your search for a new home.  You don’t have to be a first time home buyer to enjoy the credit.  Read more here.

Search online at www.cbbaker.com or TEXT 14059 to 44133 to search on your mobile phone.

Wilmington NC Real Estate Homeowners

Starting April 5, 2010 the Government will be paying homeowners in default, to relocate. The new program will demand lenders to honor short sales whereby the homeowner can sell the property for less than the mortgage payoff. The Obama administration is trying a different approach to assist more than 5 Million households who are behind on their mortgages. In turn, the homeowner will receive $1500 for relocation assistance and the lender $1000 for expediting the short sale process.  

This arrangement could prove very beneficial to the homeowner, as they will not suffer further credit damage and they will get reassurance from the lender that they will not be sued for the balance. And, under this arrangement, the number of potential  foreclosed homes on the market should drastically decrease which in turn, should improve the  overall housing market.

Finally, short sales will have their day! If you are facing a foreclosure, and need assistance, we are specialists in the Wilmington NC real estate short sale and foreclosure market. We are there for you every step of the way. Just give us a call or email kaybaker@ec.rr.com.

And, if you are looking to purchase a short sale or foreclosure, we have you covered there, as well.  We have a Certified Distressed Property broker on our team and will help you with your short sale or  purchase a short sale or foreclosure with complete knowledge of the process.  Read more here

Spring is right around the corner in Wilmington NC. What a great time to get a jump start on your spring cleaning.  If you are considering putting your home on the market, this might be the time to hire a cleaning professional.

Some of the things you need to keep in mind are:

1. Make a list of things that you would like to have done to the interior and the exterior of the home. 

2.  Do your homework and ask friends for referrals of cleaning companies.  Check out references before you hand over the keys to you home.

3.  Make sure that the cleaning company handles taxes for their employees, has insurance and is bonded.

4. Get an estimate for services and make sure it is detailed.  Your idea of a cleaning might be different than theirs.

5.  Make sure that the company can schedule days to fit your schedule and whether or not they supply the cleaning equipment and supplies.

6.  A professional cleaning job can make your home shine and show well. 

7.  Call us to help you sell your home!

So, start your real estate search today at www.cbbaker.com.  You can find a new home as well as get seller advice.  You can search by price range, map, schools, neighborhoods and more.

Fantastic positive news was released from the National Association of Realtors today.  The news release stated that the historically low interest rates combined with the $8,000 credit for first-time ( or homeowners who have not purchased a home in 3 years) helped raise the pending home sales contracts, for the third consective month.

The Pending Home Sales Index a “pending prediction” indicator based on contracts signed in April, rose 6.7 percent to 90.3 from 84.6 in March,
which is even above the April 2008 index of 87.5.

To get the first time home buyer credit of $8,000, contracts must be firmed up by November 30, 2009 to receive the credit, so we look forward to an increase in home sales.

The Wilmington NC real estate market has also enjoyed an increase in pending sales contract and still is in a a strong postion to continue this trend.

To search all Wilmington NC real estate and find out about the $8,000 tax credit please read more about the Wilmington NC real estate market here.

So you have started your home search, but you really are not sure as to what price range homes you should be looking at. The first place to begin is with a knowledgeable local Realtor and a reputable lender. The combination will put you in the driver’s seat. The lender will pre-qualify you and tell you exactly what price range homes to be looking at. Therefore, you will not waste your time or your Realtor’s looking at homes that may not fit your budget. Also, with a pre-qualification letter in hand, you are in a much better negotiating position with the seller.

Now that you have found your dream home with the assistance of a professional Realtor, you will need to decide exactly what type loan best fits your needs.

Would you be best suited for a fixed rate 30 year mortgage?

A fixed rate mortgage simply offers the same payments for principal and interest throughout the term of the loan.

Adjustable Rate Mortgage

An adjustable mortgage may adjust at different intervals based on the exact terms of the loan. You typically get a teaser rate for the first year or so and then it increases based on the market rate.

Interest Only Mortgage

If you do not plan to live in your home long term, an interest only mortgage may suit your needs just fine. You only need to pay the interest monthly and the principal is due upon payoff.

FHA

First time home buyers reap the benefits of an FHA loan which offers lower down payments and easier credit and qualification guidelines.

$8000 Stimulus

Let’s don’t forget to take advantage of the $8000 tax credit for first time home buyers and some that have owned a home before.

Right now is the perfect time to be looking for your first home, or maybe a larger one and in some cases you might just want to scale down to a smaller one. You can start your search for Wilmington NC real estate at www.cbbaker.com. There you can search by price range, neighborhood, zip code, map and more. And, please give me a call or email kay@cbbaker.com for complete details on the home buying process. I can also put you in contact with a reputable mortgage broker to get you prequalified today.

With the Spring selling season in full swing, homebuyers are out shopping. But it seems, shopping is all they are doing in many markets across the US. Buyers  hoping to time the bottom in a fickle market, may miss the chance. When the market turns, it is very difficult to know or predict. Most often it may have already happened before you even realize it.

The recovery will be varied by region, of course.  Sales are still declining in several markets across the country including Detroit and Cleveland.

This Spring may be the chance of a lifetime for many first time home buyers due to the $8000 tax credit, interest rates at an all time low and home prices discounted.

Wilmington NC real estate is definitely showing signs of recovery. According to Tim Milam, President of Coldwell Banker Sea Coast Realty, contracts written are increasing week after week. Buyers are out looking and stepping up to the plate to take part in the stimulus package.

To start your home search in Wilmington NC, just check out www.cbbaker.com and search for homes by neighborhood, schools, zip, price, map and more. Or please feel free to contact kay@cbbaker.com or 800-497-7325.

What are you waiting for?

The timing could not be better with interest rates at historic lows and real estate is on sale now with an abundance of inventory. That means you can spend less and get more! Homeownership has never been so affordable. And, the icing on the cake for first time home buyers, the $8000 tax credit! If you have not owned a home in the last 3 years and close on your purchase by December 1, 2009, you can get up to $8000 tax credit on your tax return. What are you waiting for? The time is now….

If you are searching for Wilmington NC real estate, my website is the most comprehensive with search features by neighborhood, map, price, and schools. Search all homes for sale in Wilmington, NC at www.cbbaker.com.

Please contact me today for information on all new listings on the market, including foreclosures and short sales.