Wilmington NC Real Estate Guide

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.

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.

What is a Short Sale

A short sale is when the bank is willing to accept less than the actual payoff on the loan. Why would a mortgage company do that? A foreclosure is a lose, lose situation for the mortgage company as they lose revenue, the mortgage insurance company loses premiums and pays a claim, the investor is not collecting principal or interest, there is potential damage to the property and lower property values have a negative effect on the real estate market. But, the homeowner has the most to lose with foreclosure on your credit record for up to 7 years which can be viewed negatively by lenders, employers, and insurance companies. Read the rest of this entry

1)   Get pre-approved by a reputable lender – Be sure you have a pre-approval letter in hand and present it with your offer to assure your strongest bargaining position. Read the rest of this entry