65th NC Azalea Festival Wilmington NC 2012 | Wilmington NC real estate

 

 Join us for the 65th NC Azalea Festival in Wilmington NC.  Kenny Logins kicked off the festivities on Thursday night with a concert.   Scotty McCreery is headlining the concert tonight.

From the Azalea Festival Website -

“The North Carolina Azalea Festival is Wilmington’s annual community celebration and the largest festival of its kind in the state. Founded in 1948, the Azalea Festival has emerged as Wilmington’s premier event.

Each April, a full week of natural beauty, big-name entertainment, festive galas, fun family events and Southern hospitality come together to showcase the charms of the Wilmington area. For community pride and springtime pageantry, the North Carolina Azalea Festival has no equal!

The Festival’s concerts, fairs and special events are viewed by more than one million people each year, in person and through media coverage. More than 200,000 are estimated to attend the annual two-day street fair, while more than 100,000 gather to watch the Festival parade. Each event is a celebration, beginning with the traditional arrival of Queen Azalea at the official opening of the five-day event. Stars glitter throughout town as Southern belles and their escorts promenade through lush gardens at the annual garden party. Everywhere the blooming azaleas offer colorful testimony to the rich heritage of coastal Carolina.”

Here is a sampling of the schedule for this weeks festival from the festival website.

Show events for:| Friday | Saturday | Sunday

ERICA DUNLAP

 65th Azalea Queen

 

Circus
4/12/2012 – 4/15/2012
More information

Juried Art Show
4/13/2012 – 4/15/2012
More information

Cape Fear Garden Club Azalea Garden Tour
4/13/2012 – 4/15/2012
More information

Street Fair
4/13/2012 – 4/15/2012
More information

Visiting Ships
4/13/2012 – 4/15/2012
More information

Parade
4/14/2012
More information

Coin Show
4/14/2012 – 4/15/2012
More information

Boxing
4/14/2012 – 4/15/2012
More information

Historic Home Tour
4/14/2012 – 4/15/2012
More information

Street Fair Main Stage
4/14/2012 – 4/15/2012
More information

Street Fair Multicultural Stage

For more information please visit http://www.ncazaleafestival.org/default.asp

To look at real estate when you are in town, please feel free to visit www.cbbaker.com   Enjoy…. Kay Baker & Associates

Video of Wilmington NC Azalea Festival click on photo

 

Today’s housing market is challenging. That’s a given. It’s tough on buyers and sellers alike, who are anxious, not knowing where the real estate market is going next. They both want — and often need — a great deal whether they are buying or selling. Our current real estate market requires a special perspective no matter which side of the settlement table you are on. The rates inched up a bit last week, and the market has been hot.  If you have been waiting for interest rates to get better and home prices to fall, then you might get left out of the chance to buy.

Savvy buyers can readily find a lot to love in today’s market. Buyers feel the love from low interest rates and competitive prices to a huge selection of homes and incredible investment opportunities. Look past the national headlines — which are gloomy at best and don’t apply at worst — to our local real estate market. Here is where buyers benefit the most when the going is tough. Unless, of course, you wait and miss out.

Smart sellers, on the other hand, can benefit from a buyer’s market as well. Successful home sellers in today’s market know they must price their home correctly and be flexible. Providing a buyer with a great deal on their home opens the door for sellers to move on to their own next step — whether it’s moving up, downsizing or relocating. Smart sellers also know what they may give up on price, they can make up — and then some — on their next home purchase. That’s another bright side of today’s real estate market.

Take a moment to learn the seven reasons why it’s a great time to buy a home. And, be sure to contact us when you’re ready to make a move.

1. Loving Low Interest Rates
Historically low interest rates continue to allow home buyers to afford more home for their money. Lower interest rates reduce your monthly payment and increase your buying power. Locking in at a low, fixed-interest rate means your monthly loan payment will never change over the course of your loan.

2. Embracing Investment Property
Even if you’re not in the market to buy a primary residence, you should take a look at the properties available for sale as investments. With ever-increasing numbers of families looking to rent, it’s an opportune time to invest in a rental property. Being a landlord can be a rewarding experience when you find the perfect property.

3. Attractive Home Prices
Home prices have never looked better! Many sellers are motivated to get their homes sold and are pricing accordingly. Don’t be afraid to make an offer on a home or to work with us to negotiate a great price on a great home.

4. Wondrous Selection Of Homes
If your “needs and wants list” of home features can’t be contained, now is the time to be looking at homes. The selection available in our area is outstanding. No matter what your budget, family size or life stage, we can help you find the home that fits.

5. Digging Distressed Properties
Others’ foreclosures, bank-owned and short-sale properties can be the key to your next home. Don’t overlook distressed properties, as you may uncover a hidden gem priced right so you can make upgrades and improvements without breaking your budget. Distressed doesn’t always mean a steal, but it can often lead to a great deal.

6. Engaging Your Financial Options
If you’re tired of seeing your savings yo-yo in the volatile stock market, real estate is a great asset balancer. Consult your financial professional to make sure you have the savings to spare. When you’re ready, we can help you find great investment property or a home to buy for all-cash if you desire.

7. Winning Over Motivated Sellers
Successful sellers keep the market going. Homeowners are eager to sell their homes to buyers who make realistic offers. It’s a crowded market for sellers, but the ones who are motivated will offer a great price and may throw in incentives (e.g., helping with closing costs, etc.) or much-valued sweeteners — such as a home warranty — that are as good as cash.

8. Professional Partner
When you’re buying or selling a home, it’s difficult to go it alone. We can help you every step of the way when it comes to getting a great deal on a new home. Feel free to contact us anytime you’re ready to jump into our real estate market to buy or sell. We’d love to work with you!

To understand the terms, it’s important to understand the three stages of foreclosure:

1. Pre-foreclosure stage. This stage begins when the homeowner falls behind on home-loan payments (or sometimes other terms of the loan). Lenders may wait for a second, third or even fourth missed payment before sending the homeowner a Notice of Default — which becomes public record. The homeowner then has a given period of time to respond to the notice and/or come up with the outstanding payments and fees — sometimes by selling the home in a pre-foreclosure sale, also known as a distress sale. (If a judicial procedure is required, it occurs after the notice of default is given.)One type of pre-foreclosure or distress sale is a short sale — when proceeds from the sale of a home are less than the amount of mortgage still owed to the homeowner’s lender. A lender-approved short sale (or short payoff) occurs when the homeowner’s lender agrees to accept the proceeds of the home sale as satisfaction of the mortgage owed, even though proceeds are less than the outstanding debt.
2. Foreclosure stage. At this stage, the former homeowner may or may not have been evicted — depending on state law — when the lender puts the home up for public auction (after a judgment of foreclosure in those states requiring judicial procedure).If the home sells at the foreclosure auction, (sometimes called a sheriff’s sale, trustee’s sale or step sale) money from the sale is used to pay off the costs of the foreclosure, taxes and other prior liens, service charges and advances, interest and principal on the mortgage, late charges or fees, and liens recorded after the first mortgage. Any amount left over is paid to the borrower (former homeowner). When proceeds from the sale are less than the various amounts owed, the lender may be able to hold the borrower responsible for the difference (deficiency judgment).
3. Post-foreclosure stage. When a property that does not sell at auction — either because no one bid on it or because bids did not meet the lender’s or agency’s minimum price — the property becomes real estate owned (REO) by the lender or government agency that guaranteed the loan (such as FHA/HUD, VA, etc.). You’ll also hear the term bank-ownedapplied to these properties, whether they are owned by an actual bank or some other type of lender. (Be aware: The term REO also applies to properties purchased by companies from employees who didn’t sell their home on the market before relocating, which is to say that not all REOs are foreclosed properties.)Once the lender or agency has repossessed a property following a failed auction attempt, the home is put back on the market. Most REO properties are listed for sale through real estate brokers and placed on the Multiple Listing Service.

At this stage, the foreclosure process is complete, and the property may be accurately described as a foreclosed property, while in the first two stages the home is in foreclosure and should be referred to as a foreclosure property. (You’ll find, however, that real estate writers and others sometimes misuse this terminology; be sure to ask if you are unsure what stage of foreclosure a particular property is in.)

Here is a list of current foreclosures in the Wilmington NC real estate area  Click Here for List…

For a list of Short Sale Homes Click Here….

To search the Wilmington NC MLS, please visit www.cbbaker.com

If you are selling an above-average-price property in an upscale neighborhood, you know your home is unique. You expect an upscale property to be marketed with the same professionalism you demand in every aspect of your life. That’s where our experience selling homes like yours really pays off.

Keep in mind, buyers who can afford your home lead busy lives like you and look for a hassle-free sale. Move-up buyers don’t need to buy now, so they wait and watch for that just-right home. It might be yours.

Unfortunately, even sophisticated homeowners sometimes make mistakes when they go to sell their upscale homes, netting less than the top-dollar price it’s worth. Or worse, the home just doesn’t sell at all.

Here are seven common pitfalls to avoid:

1. Underestimating The Competition in the Wilmington NC real estate market

Even though your property may be one-of-a-kind, there are other homes on the market being shown to the same potential buyers. Before you list your home, we’ll give you an “armchair tour” of comparable properties listed for sale in your price range. We’ll share our inside observations on how each home compares to yours and what special features stand out.

2. Overestimating The Value

When we tour the competition, you’ll notice how similar homes are priced. Features of interest to today’s buyers include location, house design and size, privacy afforded by the lot and acreage, special amenities, type of community, and quality of local schools and facilities. Together, we’ll help position your home at the right price. By avoiding the over-pricing trap — which often results in repeated price reductions making the property seem distressed — we’ll save time and net the full value of your home.

3. Relying On Location

Homes in the higher price ranges need to look magazine-perfect when shown to potential buyers. Today’s market demands that everything — doors to floors, fixtures to walls — be sparkling clean. Even minor faults loom large in what is expected to be a perfect home. In short, fix up, repair and polish like never before.

4. Over-Improving

Also, avoid over-individualizing the house or grounds. People tend to buy homes they see as an image of themselves. A home that’s too individualized with strong, personalized decorating won’t sell quickly. Avoid dramatic custom flourishes that may not suit many other people. Some buyers will mentally calculate the cost of removing the customization and deduct the cost from their offer.

Although you want your home to look its best, spending thousands of dollars to redecorate will not likely help it sell at a higher price — it may sell more quickly, though.

5. Making Your Own Marketing Decisions

The marketing plan for your home needs to reach out to the right potential buyers. We offer a first-class marketing campaign that requires careful advance planning to allow time for reserving appropriate advertising space, top-notch photography, brochure production, even special events, such as a top-broker open house.

Many homeowners overestimate the value of one-shot marketing such as newspaper or TV spot ads. What typically works better is advertising with a longer “shelf life,” in upscale publications, for example, where ads are directed at an ideal niche.

Let us help you decide whether your house could benefit from an open house or would be better shown by appointment only. Yours is not a home for curious, unqualified walk-ins.

6. Playing Hard To Get

No home sells sight unseen. Working together, we can create a plan to show the house to qualified prospects without disturbing your schedule. Details, such as the security system or guard dogs, may need to be worked out.

Rest assured, all buyers will be financially qualified, perhaps requiring an approval letter from an attorney or banker, before we will bring them to see your property.

7. Being Inflexible

You have a unique home, and you’re looking for a unique buyer. Chances are that buyer will have special needs and concerns. The most likely buyer will probably need to sell a current home to buy yours. Flexible terms, possibly including some extra time to settle on the old home, will help sell your home quickly at the right price.

Thinking of selling within the next 6 months? Call us to help get you started.  910-202-3607 or kaybaker@ec.rr.com

The 2012 StarNews Media Conscience Fair is 10 a.m. to 3 p.m. Saturday, Feb. 4, in the McKeithan Center at Cape Fear Community College’s North Campus, 4500 Blue Clay Road.

Nonprofit organizations present information about volunteer opportunities. To reserve a space – it’s free – visit StarNewsOnline.com/ConscienceFairand fill out the signup form.
The following nonprofits have signed up as of 3 p.m. Friday, Jan. 20.

ORGANIZATION NAME:   CONTACT PERSON   PHONE NUMBER   E-MAIL ADDRESS

International Seamen’s Center Ron Casterline 910-681-1603 rgcasterline@yahoo.com
St. Mary Health Center Laura Vinson-Garvey (910) 279-0643 lvinsongarvey@yahoo.com
Armor of God Ministries Debi Tucker 910-259-5062 debineedstime@yahoo.com
Love Is Bald Kelli N. Russell 910-264-6097 kellineese@hotmail.com
CUE Center for Missing Persons Melissa Neu 910.541.1626 cmneu@marketingflotsam.com
Wilmington Area Rebuilding Ministry, Inc. JC Skane 910.399.7563 info@warmnc.org
disAbility Resource Center Gloria Garton 910-815-6618 gloria.garton@drcwilmington.org
Moores Creek Conservation Alliance Nancy Keith 910-540-0179 moorescreekconservation@gmail.com
Cameron Art Museum Bo Dean 910-599-3995 ext 1010 bodean@cameronartmuseum.com
WHQR Public Radio Laura Hunsberger (910) 343-1640 laura@whqr.org
Church World Service/ CROP Walk Janet Magelli 910-616-1342 jmagelli@gmail.com
Arts Council of Wilmington and N.H.Co. Owen Wexler 910.790.3989 mowexler@aol.com
Foreign Exchange Student Program -PAX /STEP Tracy Bickel 910-632-4293 hostexchangestudent@gmail.com
PILOT CLUB OF WILMINGTON RAMONA ANDREWS, PRESIDENT 791-2733 – BUSINESS  612-0834  – CELL randrews@biz.ec.rr.com
Greater Porters Neck Area Foundation Yona Bar-Zeev 910n 686-5191 pnccyona@yahoo.com
The Arc of NC-Benefit Bank/ Volunteer Income Tax Assistance (VITA) site Brian Moeller (9100 538-9421 bmoeller@arcnc.org
The Full Belly Project Daniel Ling (910) 452-0975 fullbellyproject@gmail.com
WINGS MINISTRY Missy Settlemyre 910-512-7643 missy@wingsministriesinc.com
Religion News Wilmington Amanda Greene, local editor and community manager 910-471-9152 or 910-520-3958 Amanda.Greene@ReligionNews.com
Wilmington Health Access for Teens Emily Henley 910-202-4605 emilyhenley@whatswhat.org
Lifeguide  ( We will be sharing a booth with Guardian ad LItem as in the past two years.) Denny Smith 793-3472 densmi@bellsouth.net
ACCESS of Wilmington Inc. Dan Johnson, Chair  AND/OR  David Morrison, Vice Chair 910-962-3659 Johnsonde@uncw.edu  david.morrison87@yahoo.com
League of Women Voters of Lower Cape Fear Carole Ellis 910-791-0922 cellis13@ec.rr.com
OLD BRIDGE PRESERVATION SOCIETY Karen Dombrowski 910.579.9021 Rkd389@hotmail.com
First Book – New Hanover Co. Carol Barre 910-200-1441 cbarre1250@ec.rr.com
First Book New Hanover County John Osinski 910-962-4271 osinskij@uncw.edu
The Affordable Housing Coalition ofSoutheastern NC Toni Melvin Whitaker  Acting Executive Director (910) 599-0348 toniwhit@ec.rr.com
Buy Local ILM Gayle Tabor 910.471.7627 hello@buylocalilm.com
S.H.A.R.E. Briana Kelly 910-431-6418 Brianamkelly@hotmail.com
Trinity Grove Ms. Noel Schuler 910-442-3016 nschuler@trinitygrove.net
MADGRL  Mid-Atlantic Great Dane Rescue League Arlene Hubner 910-845-5143 ahubner@ec.rr.com
The Warrior Ride Debra/Bob Racine 910-278-4612 teamracine@thewarriorride.org
Elderhaus PACE Amy Derck (910) 338-2757 amy.derck@elderhaus.com
KAIROS Prison Ministries Intl. Gordon Keifer 256-5781 gordonkeifer@hotmail.com
Wilmington Prostate Cancer Support Group, Us TOO George Gardner 792-9953 wproscasupportgp@aol.com
Bellamy Mansion Museum Gareth Evans 910.251.3700 gareth@bellamymansion.org
Oceana Zachary Keith 321-356-6603 zkeith@oceana.org
Junior Achievement of the Cape Fear Region Courtney Hickman 910-462-3690 chickman@jacarolinas.org
Project Linus Sharon Black 910-681-0452 slhblack@bellsouth.net
Guardian ad Litem Program of the 5th Judicial District Lynne Fender or Liz Kachris-Jones 910-616-8960 or 910-520-4035 lfender@ec.rr.com or  liz.k.jones@nccourts.org
Wilmington Multiple Sclerosis (MS) Support Group Burt Masters, Co-Leader, Wilmington MS Spt Gp (910) 383-1368 happyheim@peoplepc.com
Interfaith Refugee Ministry Sarah Kingsley 910-538-0714 skingsley@helpingrefugees.org
Carolina Vocal Arts Ensemble Beverly Cree 910.799.9977 bjcree@gmail.com
Occupy Wilmington NC Roxanne Kirtright 910 380 1690 araweggandastorm@gmail.com
The Friends of the New Hanover County Public Library Ruth M. Brown 910-256-5482 ruthbrown@bellsouth.net
Cape Fear Coalition for a Drug-Free Tomorrow Diane Edwards 962-7432 edwardsd@uncw.edu
The Carousel Center Tira Hanrahan (910) 254 – 9898 ext. 218 tira.hanrahan@carouselcenter.org
Monty’s Home Barb Raab 910-259-7911 info@montyshome.org
Cape Fear Clinic, Inc.  (Formerly Tileston Health Clinic) John Devaney, Executive Director 910-343-8736 jdevaney@capefearclinic.org
American Red Cross- Cape Fear Chapter Wendy Flynn (910) 762-2683 ext 328 flynnw@usa.redcross.org
Food Bank of Central & Eastern North Carolina at Wilmington Jeff Rose 910-251-1465 ext 2205 jrose@foodbankcenc.org
(WRAAP) Wilmington’s Residential Adolescent Achievement Place, Inc. Daryl Dockery 910.392.6007 daryldock@aol.com
Airlie Gardens Flo Berry 910-798-7566 Fberry@nhcgov.com
NC Coastal Federation Ted Wilgis 910-509-2838 tedw@nccoast.org
Phoenix Employment Ministry Don Skinner 910-343-8469 phoenixesw@bellsouth.net
Lower Cape Fear Hospice & LifeCareCenter Tracy Register / Jason Clamme 910-512-7559 or 910-796-7981 tracy.register@lcfh.org or jason.clamme@lcfh.org
Domestic Violence Shelter and Services, Inc. Andrea Stough 910-343-0703 dvoutreach@earthlink.net
Wrightsville Beach Museum of History Madeline Flagler 910-256-2569 wbmuseum@bizec.rr.com
Muscular Dystrophy Association (MDA) Melissa Clary 910-763-3114 mclary@mdausa.org
Wilmington SCORE Sara Raleigh 910-409-9865 sraleigh@ec.rr.com
Coastal Horizons Center, Inc.  Crisis Intervention Services Julie Ozier, LCSW or   Celine Adair, LMFT (910) 392-6936 jozier@coastalhorizons.org
American Red Cross – Cape Fear Chapter Wendy Flynn 910-762-2683 ext.328 flynnw@usa.redcross.org
Brunswick County Volunteer Center Jayne W. Mathews 910-253-2574 jmathews@brunswickes.com
YWCA Lower Cape Fear Katie Nelson 910-799-6820 ext 104 volunteers@ywca-lowercapefear.org
New Hanover High School Army JROTC LTC James M. Chaffins (910) 520 – 7244 james.chaffins@nhcs.net
Comfort Socks Theresa Tese 9102698577 theresa@comfortsocksonline.org
CHILD ADVOCACY & PARENTING PLACE (CAPP CENTER) ELIZABETH K. MANDEL 910-791-1057 MANDELL@CAPPCENTER.ORG
SEACC (Southeastern Alliance for Community Change) Steve Lee 910-791-4877 seacc1@gmail.com
Brunswick Christian Recovery Center Ouida Hewett 910-842-6017 ouida@atmc.net
OPTIMIST CLUB OF WINTER PARK CHUCK KUEBLER 910-392-7760 charleskuebler@gmail.com
Elderhaus Adult Day Care Trudy Tann (910)251-0660 trudy.tann@elderhaus.com
Brunswick Family Assistance Agency Lora Moree 910-754-4777x 103 lorabfa@gmail.com
Amercan Radio Relay League Glenn Cox 910 431 3875 ke4bmy@hotmail.com
“Bread for Life….” Ministry Claudette Fiskin, MSW 910-343-5276 Bread4life.ministry@gmail.com
Cape Fear Literacy Council Rachel LaCoe 910-251-0911 rlacoe@cfliteracy.org
Canines for Service (formerly Carolina Canines for Service) Laura Kranchalk 910-362-8181 lkranchalk@caninesforservice.org
Pretty In Pink Foundation Joy Wade 910-620-9871 jwade@prettyinpinkfoundation.org
Paws Place Inc.  3701 E. Boiling Spring Rd.  Winnabow, NC 28479 Peggy Durso 910-253-9258 peggydurso@ec.rr.com
New Hanover Regional Medical Center Eileen McConville 815.5317 eileen.mcconville@nhrmc.org
A.R.R.L. The Amercican Radio Relay League Glenn Cox 910 431 3875 ke4bmy@hotmail.com
Cape Fear Volunteer Center Annie Anthony 910-392-8180 cfvcdirector@gmail.com

1. Lower Rate.

One method is to seek out a lower interest rate for the balance of $175,500. By lowering the interest rate to 7%, but maintaining the current payment schedule (20 more years of payments in the above example) your payment would drop to about $1,361 and the loan would still be retired at the original 30-year mark.

2. Longer Term.

Another way to lower your payment would be to prolong the length of the amortization. For instance, by getting a new 30-year mortgage for $175,500 at the 10-year mark, your payment would drop to $1,167 (at 7%).

3. Cash Out.

Some homeowners pull equity out of their properties for home improvement, vacation, college costs, big-ticket purchases or to consolidate debt. Especially when interest rates are rising or stable, cashing-out is often the primary reason for refinancing.

4. Change Loan Type.

Other folks refinance in order to change the type of loan they are paying off. Some homeowners grow uncomfortable with the variability of adjustable-rate mortgages and would rather have a fixed-rate loan. Others need to reduce monthly expenses and choose an adjustable-rate loan to lower their payment.

5. Shorter Term. The rates are still around 4%

Sharpen Your Pencils!
Determining how much you can afford to finance in today’s market requires careful consideration and a bit of math. If you are thinking about refinancing an existing mortgage or buying a home, use these charts to help you plan. Then call us, so we can answer your questions and help you take the next step!
Monthly Payment: How much can you afford?
Lenders will usually allow you to spend 28% of your total–or gross–monthly income to make mortgage payments of principal, interest, taxes and insurance. The table below shows how much 28% is at various income levels.
Annual Income	Gross Monthly Income	Affordable Monthly Payment**
$20,000	$1,667	$467
$25,000	$2,083	$583
$30,000	$2,500	$700
$35,000	$2,917	$817
$40,000	$3,333	$933
$45,000	$3,750	$1,050
$50,000	$4,167	$1,167
$60,000	$5,000	$1,400
$70,000	$5,833	$1,633
$80,000	$6,667	$1,867
$100,000*	$8,333	$2,333
*For incomes over $100,000, add together the two appropriate columns.
Loan Amount: How much can you plan to borrow?
Once you know how much you can afford monthly, use this table to estimate how much you can borrow. Add your down payment to get an approximate house-hunting price range.
Monthly Payment**	5%	7%	9%	11%
$467	86,995	70,194	58,040	49,038
$583	108,603	87,630	72,457	61,219
$700	130,399	105,216	86,998	73,505
$817	152,194	122,802	101,539	85,791
$933	173,803	140,237	115,956	97,971
$1,050	195,598	157,823	130,497	110,257
$1,167	217,393	175,409	145,038	122,543
$1,400	260,797	210,431	173,995	147,009
$1,633	304,201	245,453	202,953	171,476
$1,867	347,791	280,625	232,035	196,047
$2,333	434,599	350,668	289,951	244,980
**Principal and interest only; taxes, insurance and any homeowner fees not included. These will raise your monthly payment and reduce the amount of principal and interest and total loan amount you can afford. Loan amounts are based on a 30-year fixed-rate mortgage. For incomes over $100,000, add together the two loan amounts and add your down payment.

Yet another reason for refinancing is to shorten the term of your current mortgage. If your income has grown substantially and you’re happy living in the same home, you could reduce the length of your loan by simply refinancing to a shorter-term mortgage with a smaller balance but higher payment. Using the above example again, a $175,500 loan paid off in 15 years at 8% would cost you $1,677 each month (about $200 more than for the original loan), but the loan would be paid off relatively quickly–saving you thousands of dollars in interest payments.
Whatever you decide, be sure to weigh the costs of refinancing carefully. A lower monthly payment may help your cash flow, but is it going to cost you too much up-front to make sense? Be sure you’ll live in the home long enough to recoup the expenses associated with refinancing–points, closing costs and fees.

Merry Christmas from Our House to Yours.

Spend time with family and friends, enjoy them richly.  Along the way find a way to help new friends.  This is the time of year that we must remember that it is the giving that is so rewarding.  Giving of your time, crafts, good deeds and helping others.

I have always thought of Christmas time, when it has come round, as a good time; a kind, forgiving, charitable time; the only time I know of, in the long calendar of the year, when men and women seem by one consent to open their shut-up hearts freely, and to think of people below them as if they really were fellow passengers, and not another race of creatures bound on other journeys. 

~Charles Dickens

Christmas is a necessity.  There has to be at least one day of the year to remind us that we’re here for something else besides ourselves.  ~Eric Sevareid

Never worry about the size of your Christmas tree.  In the eyes of children, they are all 30 feet tall.  ~Larry Wilde

Christmas is the season for kindling the fire of hospitality in the hall, the genial flame of charity in the heart.  ~Washington Irving

Remember
This December,
That love weighs more than gold!
~Josephine Dodge Daskam Bacon

How Do You Prove You Had It………

When You Don’t Have It Anymore?

Have you counted your silverware lately? Cataloged your coin collection? Inventoried your attic treasures? If you lost them, would you be able to prove to your insurance company you actually possessed what you say you owned? Could you prove how much those lost items were worth? There are lots of ways you could lose some or all of your possessions–flood, fire or other natural disaster, moving, burglary. In attempting to recover your losses, having a comprehensive inventory on hand could be worth many thousands of dollars.

Here are some suggestions for compiling and storing a household inventory.

• Ask your insurance company for a room-by-room form to help you make your inventory or use a computer software program designed for the same purpose.
• Do your counting while you’re in the process of spring or fall cleaning–or as you move from one home to another.
• Work in small doses, one room at a time.
• Be as specific as possible in your listing. Note the date of purchase and the purchase price. Describe the item in detail, including serial number.
• Some items increase in value over time. Be sure to get updated appraisals on antiques, jewelry and other valuables periodically.
• If you’ve kept purchase receipts–always a good idea, especially for big-ticket items–keep them with your inventory.
• To supplement your description, make photographs or a video of your things.
• Update your inventory at least annually and when you purchase more-expensive items.
• Make a copy of your inventory, keeping one at home and placing the other one in a safe place elsewhere–perhaps in a safe deposit box or with a relative.

TIPS
Check with your insurance company about getting replacement-cost coverage if you don’t already have it. Rather than giving you the depreciated value of a lost or damaged item, for a slightly higher premium replacement-cost coverage will give you the full amount necessary to buy a similar new item at current prices.

Also, note the limits on your policy for various types of items. If, for example, you own jewelry worth in excess of the policy’s limit for jewelry, talk with your agent about picking up a rider policy to cover the full worth.

You have spent your lifetime making your home a home.  Keep it that way.  For all the latest Wilmington NC real estate trends, please visit www.cbbaker.com

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.