PRICING:

Beat Your Competition To The Contract

To sell your home quickly for top dollar in today’s market, the best move you can make is to price the property at its current market value. When you set the right price on your home, you have an edge on your competition.

Here’s how setting the right price helps you:

You tap the pent-up demand of buyers who have already seen everything on the market and are waiting for new home listings.

You target the right group of prospects — the ones who can afford your home and are looking at similar properties.

Your home will compare favorably with other homes potential buyers see because yours will look better than overpriced homes in your category.

Perils Of Overpricing

Overpricing your home gives the advantage to your competition — the other homes on the market. The buyers you want to attract won’t see your home because they are only looking at homes listed in their price range.

Prospective buyers who do see your home realize they can get a better deal elsewhere. If it’s your home they want, they may choose to wait until you lower the price. And if you do reduce the price, other potential buyers wonder why the home has been on the market so long.

The right price is determined by the size, condition and location of your home, what comparable homes are selling for at the time you list yours, and the balance of supply and demand in your area.

Strategic Pricing

Setting the best price to list your home is part science, part art. There are several aspects of the home’s value we consider when making pricing recommendations.

1. Comparison. Where does your home fit in the Wilmington NC marketplace? It should be priced to be competitive with comparable homes in the same area.

2. Negotiation. The price should allow some space to make concessions in order to close the deal.

3. Return. The listing price should be set so you net the most money possible from the sale.

4. Target. Ideally, the price is adjusted to the top of a multiple listing category, so the home’s features compare favorably with lower-priced homes in the range. (If it is placed at the bottom of the next higher price grouping, the higher-priced homes will look better and sell more quickly.)

Other Factors

Unfortunately, what you paid for your home is not a factor in determining its market value. Neither is what you would like to get out of the home. Some home improvements you’ve made may add to the market value, however. Having the home in picture-perfect condition from the first day of the listing may also increase the value of your home. But mostly, these will help you sell faster, and that could mean a sale price close to your asking price.

Call us to find out more about how you can price your Wilmington NC real estate to sell it quickly. We’ll be happy to conduct a FREE market analysis to find the best price for listing your home.

 11.11.11

Happy Veterans Day.  A huge thank you for all of you that have served or are serving our great Country.  We would not have the rights and privileges that we enjoy today without your selfless service.  According to the Department of Veterans Website the history of Veterans Day started after  World War I – known at the time as “The Great War” – officially ended when the Treaty of Versailles was signed on June 28, 1919, in the Palace of Versailles outside the town of Versailles, France. However, fighting ceased seven months earlier when an armistice, or temporary cessation of hostilities, between the Allied nations and Germany went into effect on the eleventh hour of the eleventh day of the eleventh month. For that reason, November 11, 1918, is generally regarded as the end of “the war to end all wars.”

Veterans Day continues to be observed on November 11, regardless of what day of the week on which it falls. The restoration of the observance of Veterans Day to November 11 not only preserves the historical significance of the date, but helps focus attention on the important purpose of Veterans Day: A celebration to honor America’s veterans for their patriotism, love of country, and willingness to serve and sacrifice for the common good.

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.

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!

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.

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

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 in Wilmington NC 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 Wilmington NC  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.

Here are some of the current Wilmington NC real waterfront/waterview real estate  in our area.

Priced from 100,000 – 200,000  Click here

Priced from 200,000- 400,000  Click here

Priced from 400,00 -600,000  Click here

Priced from 600,000 – Click here

To search all properties please visit www.cbbaker.com

Wrightsville Beach is a hidden gem that we treasure for it’s clear crystal clear waters, quaint atmosphere and wonderful people.  With Banks Channel, ICWW and the Altlantic ocean at our fingertips what is there not to like.  Great restaurants, a couple of shops and fishing piers provide entertainment for all.  We are pleased to  share with you our newest waterfront listing just in case you are interested in Wrightsville Beach.

www.WrightsvilleBeachWaterfront.com

Spectacular dream home on Banks Channel with over 4100 sq. ft. of gorgeous living area. 5 bedrooms and 4.5 baths in a well thought out open, floorplan with ELEVATOR. Incredible views await you from most every room including large decks from the owners suite and main living area. Vintage inspired kitchen w/bead board cabinets, Champaign and cream granite counters, kitchen island with built-in gas, downdraft cook top, and 2 raised breakfast bars. And a breakfast room with uninterrupted views of the channel and your private pier with floating dock and 2 boat lifts. One is a 13000 lb. lift for your fishing machine and the other a 3000 lb. lift for smaller pleasure craft. A recently new bulkhead was installed along the beautiful backyard with sod, knockout roses and other indigenous shrubs and bushes. The large owners suite has beautiful Brazilian Cherry floors and a fireplace that is shared with the spa like master bath offering unsurpassed views from the 2 man whirlpool and separate walk shower.

Over 4100 sq. ft. 5 BR, 4.5 bath dream home on Banks Channel with private pier, floating dock/gazebo and 2 boat lifts. Incredible Views. Prepare to stay awhile, because you have just found your new home.

Enjoy.

The size of homes has increased steadily over the years. In 1950, the average new home consisted of 1,000 square feet or less. By 2000, new homes averaged 2,265 square feet. People just want more space to live in—and space for more stuff!

So, how do you get people interested in buying your smaller home? There are lots of ways you can make your home-or the too-small rooms in it—appear larger. Consider these experts’ tips for adding visual space:

Expand The Walls

• Paint walls in light pastels or neutral tones. (Neutrals—taupe, beige, gray, white, off-white—will make it easier for a home buyers to coordinate their furnishings with your home.) The lighter the color, the larger the room will seem.
• Paint woodwork and trim the same shade as the walls but with a higher-gloss finish. Contrasting woodwork draws attention to itself, making a room look smaller.
• You could also hire a “color consultant” to learn more about creating space with color. Ask a local specialty paint store or home-decorating shop for a referral, or look for a consultant online at the International Association of Color Consultants: www.IACCNA.org.
• When using wallpaper, choose patterns with lots of open space or small, subtle patterns in light shades without contrasting colors. Then cover furnishings in solid-color fabrics.
• If possible, build recessed shelves or display alcoves into walls. Built-ins deepen the space, while freestanding shelves and display tables use it up.
• Maximize light. Use high-watt bulbs in lamps and light fixtures and make sure they’re turned on during home showings. Keep curtains, shades or blinds open to let as much natural light in as possible.
• Paint the ceiling a bright white so it reflects light and seems higher.

Minimize Furnishings

• De-clutter! The more furniture and objects you have in a room, the smaller it will seem. Pare furniture back to a comfortable minimum. (Place your extra pieces in storage if you can’t bear to part with them.)
• Use small furniture, steering clear of large, overstuffed or high-backed pieces. For example, choose a loveseat rather than a 3-seater couch, a drop-leaf table rather than a full-sized one, a small secretary instead of a large desk. Remember, though, numbers count-a room can look larger with just two or three large pieces of furniture in it than with seven or eight small pieces.
• Place only a few knick-knacks for accents on tables or shelves. Cluster coordinating objects in two or three places rather than spreading them evenly about the room.
• Upholster (or slip-cover) chairs and couches in small-print or solid, light-colored fabrics that coordinate (but not contrast) with wall colors.
• Keep area rugs to a minimum—they visually break up floor space. Bare floors or light-colored wall-to-wall carpeting make rooms look larger.
• Keep window treatments simple, avoiding heavy draperies with busy patterns or colors that contrast strongly with the wall color. Consider using a cornice board or valence with blinds, shutters or sheers instead.

Room Arrangements

• Place large furniture so that open floor space is near the room’s entrance. For example, place beds and couches on the wall opposite the entry door.
• Place most of the furniture against walls so it doesn’t protrude into the room’s central space.
• Create uncluttered walkways. You should be able to pass from one room to another in a straight line. Also, you should be able to move from the door to the main element in the room (couch, desk, bed) without having to walk around something else. Ditch the coffee table!
• Leave some floor space or wall space unused.
• Use large mirrors to reflect light and deepen the visual space.
• Keep doors between rooms open.

If you would like, we would be happy to look at your small home and suggest practical ways for making it appear more spacious.

Sign up for my newsletter for more hints kaybaker@ec.rr.com

Coldwell Banker Sea Coast Realty has come out strong for the start of 2011 in real estate sales.  We have sold 243 homes since January 1, 2011, with the closet competitor having sold 108 homes at 9.38% of the market.  Sea Coast holds 21.09 % of the market out of 57 of the top firms in the area.  Currently we have 168 properties under contract at  23.66% of the market.  The next competitor has 83 properties under contract with 11.69% of the market.  Pretty impressive numbers. Extensive training and courses are offered at Coldwell Banker Sea Coast, thus giving us an edge to sell your home, or purchase a new one.  Knowledge and experience makes the difference.  Call us today. Kay Baker & Associates

Google Maps is getting out of the real estate business starting Feb 10, 2011.  In July 2009 Google added “search for real estate” on their Google Maps.  Due to the increase in excellent real estate search features on real estate websites, like Coldwell Banker, and an change to API on how listings are submitted Google decided that the real estate search on maps were not being utilized.  Coldwell Banker embraces Google products such as YouTube and Google Maps on their website.  Google is already working on new features that will enhance websites and searching for consumers.  Search all real estate on www.cbbaker.com

One of the treasures of Wilmington NC is the Screen Gems Movie Studio.  It is not a rare site to see a movie star or two while you are going about your daily business in Wilmington NC.  A new movie has started filming in the area, 3D Journey 2 Mysterious Island starring Michael Caine, Dwayne Johnson (The Rock), Josh Hucherson, and Vanessa Hudgens.  Journey to the Center of the Earth 3D was the first film ever shot in HD 3D, so the sequel should be equally filled with amazing digital shots.  It is the largest film being filmed at Screen Gems.  Another new special water tank was built just for the production.  This week they were filming on Colonial Drive in Forest Hills.  Wilmington NC welcomes the production and all the people who have come to our great city.  Enjoy….

If you would like to look at real estate, we invite you visit www.cbbaker.com to learn about our town and what we have to offer.  From your phone you can text 14059 to 44133 and search there.

Click here for Screen Gems Brochure