FSBO INCENTIVES: 12 Contract Options That Entice Buyers | Wilmington NC real estate

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Wrightsville Beach NC www.cbbaker.com If you’re selling in today’s Wilmington NC real estate  market, you want to make your house outshine the competition. Buyers are most likely to choose your house if it offers something special. Here are 12 ways to make sure you land a “Sale, Sweet Sale.”  # www.wilmingtonnc-realestate.com

 A Spoonful Of Sugar

1. Offer a warranty.

Purchase a buyer’s home warranty to protect against future problems.

2. Help with closing costs.

Cash-poor buyers concerned more with out-of-pocket costs than monthly payments will especially appreciate this one.

3. Consider financing help.

Provide seller financing or buy down the buyer’s mortgage rate for the first year.

4. Help with utilities.

Pay some or all estimated utilities for 6 or 12 months.

5. Help with fees.

Pay a year’s condominium or homeowners association fees.

6. Pre-pay memberships.

Buy a one-year pool or community golf club membership, cable TV subscription, or other recreational activity.

7. Consider a moving allowance.

Pay the buyer’s documented moving expenses, or provide an allowance toward moving costs.

8. Treat them to window treatments.

Offer redecorating cash for new carpet or drapes.

9. Mow down any objections.

Buy a lawn-maintenance service for a year, or offer a riding mower if the lot is large.

10. Give them a dock on the bay.

If you live in a waterfront community, offer to rent a boat slip for a year.

11. Reimburse buyer the cost of points.

{short description of image} This is often a double benefit for buyers, who save both on the points themselves and on their federal taxes. The IRS now allows buyers to deduct the cost of seller-paid points as a Schedule A mortgage expense.

12. Price your home below comparable properties.

Prove your home’s good value by having an appraisal done and setting the price below the appraised amount.

Call on us for more ideas of ways to make your home the sweetest one on the market. We’ll create a customized marketing program to help get your home sold in any market!

Let us know if we can help.  www.cbbaker.com

Categories: FSBO 101, Sell your home, volunteer in wilmington NC, Waterfront Wilmington NC, waterfront wrightsville beach, wilmington nc real estate, wilmington real estate stats

SOLAR AND WIND ENERGY | Alternative Energy Credits Can Mean Lucrative Deductions

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On your federal tax return, you can claim a tax credit of 30% of the cost of alternative energy equipment installed on your home, including solar hot water heaters, solar electric equipment and wind turbines. The installation must be on a property in the U.S., but does not have to be your principal home. This tax credit is available through calendar year 2016.

TAX TIP: There is no maximum dollar limit on the credit for most types of property. And, if your tax credit is more than the tax that you owe, you can carry forward unused portions of this credit to next year’s return. See IRS Form 5695 “Residential Energy Credits” for more information and to claim these credits.

Categories: Solar & Wind Energy, tax exemptions, Uncategorized

BOUNCING BACK | Denied A Mortgage Loan? You Can Recover!

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It’s a sinking feeling: You applied for a mortgage loan only to have your lender reject your application. Now you feel like you’ll never be able to buy your dream home.

But don’t give up hope. Your lender rejected your application because it didn’t think you could afford a monthly mortgage payment of that amount today. That doesn’t mean that you won’t be able to afford a smaller loan now or a larger one in the near future.

Here are some tips for dramatically increasing your odds to earn approval next time:

Listen to what your lender says: Don’t shut out your lender just because it denied your application. Find out from your lender exactly why you were denied. Your lender is required to send you a letter listing a reason, but those reasons can be general. Ask your mortgage loan officer for more specific information. Once you know the problem—low credit score, low income—take steps to fix it.

Work on that credit score: Often, lenders deny a loan application because borrowers’ credit scores are too low. Fortunately, you can improve your credit score. You have to pay your bills on time each month and pay off as much credit-card debt as possible. It might take time—several months, or more—but you can steadily boost that three-digit score.

Time to go it alone? Maybe your credit score is high but your spouse’s or partner’s is low. It might make sense to apply for a mortgage loan on your own. Lenders will rely on the lowest credit score among applicants when deciding who does and doesn’t qualify for a home loan. Make sure, though, that your income alone is high enough to qualify for the loan you want. Remember, too, that the name of your spouse or partner can be on the home’s title, even if both of your names aren’t on the mortgage.

Pay off those debts: Lenders want your monthly debts— including your estimated monthly mortgage payments—to be no more than 43% of your gross monthly income. If your debt-to-income ratio was higher than this mark, pay off as much of your debt as possible before applying again for a mortgage loan. Lower debt levels could mean the difference between denied or accepted.

If you’d like to boost your odds of qualifying for a home loan, call us today. We’ll help you determine what steps you need to take to earn that mortgage.

Categories: Denied a mortgage?, Uncategorized

OPTIONS: Ten Savvy Ways To Pay For A Home Today in Wilmington NC

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Different buyers have different mortgage needs. Fortunately, lenders today offer many mortgage options to choose from. Chances are you’ll find a mortgage plan that works for you.spartanburgBecause points, fees and interest rates vary, check with us or your lender for specific information on the type of loan you are considering. The “snapshot” interest rate examples shown here are for illustrative purposes only and may not reflect current rates. For simplicity, all examples here use a $100,000 sales price. Monthly payments are for principal and interest only (taxes, insurance and condo/homeowner fees would increase your payment).

Adjustable-Rate Mortgage.

The interest rate is adjusted up or down periodically based on a financial market index (such as Treasury bills). Monthly payments start lower than for fixed-rate mortgages. The initial rate is set for a specified period — 1, 3, 5, 7, or 10 years — and then rates adjust on a schedule, say, annually. The adjustments generally are limited by annual caps and a life-of-the-loan cap.

Down Payment: $10,000
Mortgage Amount:< $90,000
Term of Loan: 30 years
Interest Rate: 7% (until first rate adjustment)
Monthly Payment: $599 (until first rate adjustment)

Fixed-Rate 30-Year Conventional Mortgage.

A fixed-rate conventional loan is made by a commercial lender for 30 years. Monthly payments (excluding taxes) remain unchanged for the life of the loan. Some lenders allow mortgages with as little as 5% down, but require private mortgage insurance for loans with less than 20% down.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: 30 years
Interest Rate: 8 1/2%
Monthly Payment: $692

Fixed-Rate 15-Year Conventional Mortgage.

This is similar to the 30-year conventional mortgage, except the loan is repaid in half the time. Interest rates are typically lower than for a 30-year loan, and interest paid over the life of the loan is less, but the monthly payments are usually somewhat higher. Government-backed loans — VA and FHA — are also available in 15-year terms.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: 15 years
Interest Rate: 8 1/4%
Monthly Payment: $873

Two-Step Loan.

This 30-year loan is a cross between the ARM and a conventional loan. The mortgage carries a fixed rate for 5, 7 or 10 years and then adjusts to market interest rates once for the remainder of the loan. The initial rate is generally lower than a fixed-rate conventional mortgage, but the second step of the two-step mortgage is often conditional on the lender’s approval.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: 30 years
Interest Rate: 8 1/8% (for first 2 steps)
Monthly Payment: $668 (until adjustment)

Federal Housing Authority (FHA) Loan.

These are government-insured loans so homeowners can make a smaller down payment than on conventional loans. The limits on FHA loans are high enough to handle moderately priced homes in many parts of the country. FHA loans are assumable for future buyers who qualify.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: 30 years
Interest Rate: 8 1/4%
Monthly Payment: $676

VA Loan.

These are loans for qualified veterans backed by the Department of Veterans Affairs with low or no down payment required. These mortgages are subject to the VA mortgage funding fee, depending on the size of the down payment. VA loans can be combined with second mortgages and are assumable to qualified buyers.

Down Payment: $10,000
Mortgage Amount: $100,000
Term of Loan: 30 years
Interest Rate: 8 1/4%
Monthly Payment: $751

Seller Financing.

Sellers may take back a loan against their equity in the property in the form of a first or second mortgage. One approach to owner financing is to use a balloon mortgage calculated and repaid for 5 or 7 years as a 30-year mortgage, but then the balance of the loan is due in a lump sum.

Down Payment: $15,000
Mortgage Amount: $85,000
Term of Loan: 5 years
Interest Rate: Negotiable
Monthly Payment: Depends on rate

Assumable Mortgage.

A buyer takes over the existing mortgage — usually FHA, VA or ARM — at its current interest rate, with the concurrence of the lender. An assumption may have a lower rate than those currently available, and taking over the mortgage may save on closing costs. The down payment makes up the difference between the sales price and the balance on the loan.

Down Payment: $30,000
Mortgage Amount: $70,000
Term of Loan: Time remaining on loan
Interest Rate: Same as seller had
Monthly Payment: Same as seller was paying

Wrap-Around Mortgage.

Here a new mortgage incorporates an older, assumable loan to help bridge the gap between the loan balance and home sales price. The interest rate is often below market, but higher than the rate the old mortgage carries. Payments are made to the new lender or the seller, who forwards part of the payment to the first lender. The term of the mortgage is the time remaining on the original loan.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: Time remaining on original loan
Interest Rate: 9%
Monthly Payment: $724

Buy-Down Mortgage Plan.

The seller or a third party provides additional cash to the lender in exchange for a lower interest rate for the buyer. Approaches vary among permanent buy-downs, multi-year and graduated plans.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: 30 years
Interest Rate: 6 1/2% (initial)
Monthly Payment: $568 (until subsidy diminishes or expires)

Call us, we can help get you started.

 

Categories: First Time Home Buyer, wilmington nc convention center, Wilmington NC homes, wilmington real estate stats

GOLF COMMUNITIES WILMINGTON NC REAL ESTATE

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GOLF COMMUNITIES WILMINGTON NC REAL ESTATE

golf wilmington nc

With our mild climate, you will truly enjoy year round golfing at the many golf courses throughout the Cape Fear Region . Whatever your handicap, there are more than twenty courses in and around Wilmington that are a pleasure to walk. Some of the courses were designed by some of golf’s greatest names including Jack Nicklaus, Tom Fazio, Fred Couples and P.B. Dye, among others. Some of the Wilmington courses are listed below.

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  • Wilmington Municipal Golf Course 311 S Wallace Ave. 791-0558

Please feel free to contact us with any questions or requests about golf homes for sale or golf course real estate in Wilmington, NC, 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. We know where the best shopping is and all the main attractions. If you are looking for a second home or investment property in Wilmington, NC, there are still real deals in the great coastal area, but you will need a real estate expert to help you. We are experienced real estate professional’s who has decades of home buying and selling experience in golf properties in Wilmington, NC area.

Kay Baker Associates has the knowledge and experience to assist you in the purchase of your dream home in a golf course community.

Contact us today  in Wilmington, NC, at 1-800-497-7325 Ex. 3607 or kaybakerassociates@ec.rr.com

Please click any of these golf course neighborhoods for the latest detailed information on Wilmington golf homes for sale.

Categories: Golf in Wilmington NC, Landfall, Porters Neck Plantation, wilmington nc real estate, Wrightsville Beach NC

Worlds Largest Christmas Tree | Wilmington NC real estate

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Wilmington NC Worlds Largest Christmas Tree | Star News Photo

Our world famous tree will not be lit again this year, but here is  a little history to bring back memories.  In 1928 “Hi Buddy” Wade, the town commissioner held a contest to find the best Christmas tree to light in Wilmington. Two local school children choose the tree at the Hilton Park. A Large Oak.  Each was rewarded with a $5 gold piece.  450 lights were used to decorate the tree.  The Worlds Largest Christmas tree lighting ceremony which has  been held every year since 1928 (except the one year during World War II) until 2010.  The age and health of the tree has been a concern in prior years.  The City of  Wilmington is doing renovations at the Sweeney plant next to the tree, and these are safety concerns as well.  To upgrade and accommodate changes to make the area around the tree safe is not in the City budget.

So, we will have to view the tree from afar, and visit the new tree and Santa’s house on the downtown Wilmington NC riverfront.  Until then, we can still say Wilmington NC had the “Worlds Largest Christmas tree” .

If you are in town and want to search Wilmington NC real estate – visit www.cbbaker.com/

Categories: Uncategorized, wilmington nc, wilmington nc convention center, Wilmington NC Market Statistics, wilmington nc real estate, worlds largest christmas tree

LIVE BIGGER Small Ways To Make Your Home Fit Your Family’s Needs Better

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LIVE BIGGER
Small Ways To Make Your Home Fit
Your Family’s Needs Better


If it seems like the walls are closing in around you, it might actually be true. More stuff? More kids? New pets? Children grown but not yet out of the house? Maybe your elderly parents have moved back in? Maybe you’re even running a home office from your residence? All these changes—and all the extra stuff that comes with them—can make any home feel cramped.What can you do—short of moving? Here are five proven tips to make your home “live bigger.”

Before you buy it, think
What will you toss, recycle or give away when you bring something new to your home? If you are just adding to your stash, reconsider. If it’s “just nice to have” or you’ll “use it later,” hold off.

If it’s flimsy, avoid the clutter and hassle of dealing with it after it breaks. Sometimes waiting to buy the well-made, but more expensive item makes more sense.

Review your belongings, one-by-one
Do a deep declutter. Unpack every closet, drawer, cubby, container and bin. Pretend you’re moving. Be ruthless with the 5-Pile-Moving-Mantra: Sell, Return, Give/Donate, Toss/Recycle or Keep/Use. You don’t have to do this all at once. But carve out time to cut back your stored stuff.

Don’t hide things
When items are stored in opaque bins and closed boxes, no one can remember what’s inside; out of sight, out of mind. Bury the bins in closets, attics, crawl spaces, basements or under beds, and the memory gets even dustier. Inventory each box using the 5-Pile standard, and you’ll be amazed how much unwanted stuff you’ll clear out.

Double duty wins
Make sure new purchases can do multiple things, making them more useful. If you find a desk that has lots of storage space and a chair can fit completely under it, that desk can make a bookcase unneeded and more practical than a desk with a chair that sticks out.If the dining room is rarely used, convert it into your home office with a cabinet desk or get a credenza so that you can put away your work gear when meal time arrives.

Know when to throw in the towel
Sometimes, a home truly isn’t going to feel spacious no matter what you do. If you’ve worked through these declutter tips, but your home’s still not big enough for your needs, give us a call. We can help you sell your home and find a new one that is just right for you. Best of all, the packing for your move is mostly done!

 

Categories: Uncategorized

Someone would like to see your home in a half hour | Ready. Set. Go

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READY TO SHOW

 wilmingtonnc-realestate.com

Showing Primer: Get Your Home Visitor-Ready In A Flash

Some Wilmington NC buyers may not give you much notice before they want to tour your home. Here are several tips to keep your home showcase-ready—or get it ready fast. On your mark: Assemble a cleaning caddy with all necessary tools, cleaners and rags to take with you from room to room. Get set. Go!

Everywhere

  • Turn on lights, open window coverings.
  • Stash items that don’t belong in a particular room in a box or bin. Place the filled container in the garage, basement, attic or another out-of-the-way area.
  • Lock up pets or take them with you when you leave for showing.

Kitchen

  • Pop dirty dishes in the dishwasher.
  • Take garbage/recycling to bins outside.
  • Wipe counters, sink, appliances with appropriate cleaner.
  • Sweep along cabinets and in corners.
  • Wipe up any sticky floor spots.

Living Room/Family Room/Den

  • Dust large open surfaces such as tables, lamp shades, shelves, etc.
  • Straighten books, magazines, videos, music, electronics (better yet, ban this clutter for now).
  • Fluff and arrange pillows and throws.

Bedroom

  • Make beds, even if it means throwing bedspread/comforter over unmade sheets.
  • Prop up pillows decoratively.
  • Put away clothes and other clutter (under-bed storage box works too).

Bathroom

  • All countertop items in cabinets.
  • Fold towels neatly or put out special “showing-only towels.”
  • Wipe down counter/sink and perhaps tub/shower if you have time.
  • Sweep or wet-mop floor, especially corners.
  • Wipe down toilet and/or swish inside with nearby toilet brush.

Hallways/Entry/Mudroom

  • Hang up all items.
  • Sweep and/or shake out rug outside.
  • Put dirty clothes in washing machine or dryer (if either are empty).
  • Showtime!
Categories: Getting your home ready for a showing, wilmington beach homes, wilmington nc, Wilmington NC homes, wilmington nc real estate

Looking for a Bargain in Homebuying? Wilmington NC real estate

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www.WilmingtonNC-realesate

BUYING A BARGAIN HOME

How To Identify A Desirable Distressed Property

 

It’s not easy finding a bargain property in Wilmington NC that is worthy of purchasing.There are a lot of homes out there that may be up for sale, but—for a variety of reasons—are not suitable to fix up as your own home or an investment.What makes a particular real estate distressed home a good choice?

  • Location. It’s located in a desirable neighborhood. You—or future residents—would want to live in that area.
  • Bones. It’s got great bones. There is no major structural damage to the home and remodeling is for superficial items.
  • Rehab. The fixes it needs are relatively easy and quick to complete. If the to-do list only includes carpeting/flooring, paint and clean up, it’s likely a good choice compared to one that needs new windows, roof, HVAC system, plumbing/electrical rework, etc.
  • Price. The home is priced significantly lower than comparable, surrounding homes. If it stacks up well against neighboring homes in terms of price, it’s likely priced right to allow you to invest some fix-up money into it. The key is to act fast to grab this home—before someone else does!
  • Condition. You can get a home inspection completed before the sale becomes final. If the selling situation of the property makes you forego the inspection, it might be prudent to revisit buying that home.

When you’re ready to look for a bargain home, contact us. Foreclosures, short sales, and other distressed properties are out there. The key is knowing what to look for.

Categories: Bargain Homes, Distressed Homes, wilmington nc real estate

Figure Eight Island | The Wilmington NC Real Estate Island

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figureeightFigure Eight Island NC real estate comprises a beautiful coastal community offering the ultimate in privacy and security located just minutes from the conveniences of Wilmington and Wrightsville Beach. Whether you’re looking for waterfront/oceanfront real estate on Figure 8 Island, for your dream home or second home for a beach vacation of a lifetime, Kay Baker & Associates of Sea Coast Realty can help you find premier Figure Eight Island, North Carolina, real estate! Come and experience the beauty, serenity and casual atmosphere of Figure Eight Island for yourself.

Homes for Sale in Figure Eight Island, NC

Homes for sale on Figure Eight Island, North Carolina are unlike any other oceanfront property you’ll find anywhere. Located on the Atlantic Ocean and accessible only by a private bridge, Figure Eight Island, North Carolina real estate is known for its proximity to over five miles of sandy white beaches, sparkling blue waters and abundant natural resources. Yet the island remains untouched by commercial developments like hotels and shopping centers.

See listing and more here...http://www.cbbaker.com/figure+eight+island+real+estate

 

Categories: Figure Eight Island, Gated Island NC, Waterfront Wilmington NC, wilmington nc real estate, Wrightsville Beach NC


Kay Baker Associates | 1001 Military Cutoff | Ste 101 Wilmington, NC 28405 | kaybakerassociates@ec.rr.com | 910-202-3607 | Fax 910-338-2428

Copyright © 2017 Wilmington NC Real Estate Guide. All rights reserved. Disclaimer: All content on this blog is my own opinion and should not be treated as fact or relied upon when purchasing or selling real estate.