Carolina Beach NC Real Estate

Let us help you with your relocation needs. Click on our relocation kit to get ideas to de-stress to make your move more enjoyable.  For more tips, please visit www.cbbaker.com to search all Wilmington NC real estate.  Enjoy….

We are very pleased to announce our new mobile site to search Wilmington NC real estate. Please visit mobile.cbbaker.com and give it a test drive.  If you drive by a house and want to see what the price is, just type in the street and you will get the information you need.  If you want to see if there are any other homes in the neighborhood, just use the tool “Search Nearby Listings”.  There is an advanced tool button that lets you search by price.  We want to make it easy for you to find out the information that you desire.  Call us with any questions.  Enjoy…

FORECLOSURE: What Every Buyer Must Know In today’s market, you’ll hear lots of terms used to describe “bargain” properties – distressed, short sale, pre-foreclosure, auction, REO, bank owned, foreclosure, foreclosed, and more. Confused? That’s understandable. Some of these terms are interchangeable, some are not, and some cover a whole range of bargain property types.

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.)

If you are thinking about buying a foreclosure, make sure that you go to the Register of Deeds and search the property for liens.  These are not posted online.  If there are liens on the property, you will be buying them as well.  To search foreclosures in the Wilmington NC area please visit http://www.cbbaker.com/idx/residential/search . To get guidance if you are close to being in a short sale situation, please visit http://www.cbbaker.com/foreclosureNew.php

We have a Certified Distressed Property Expert on our team. Call us and we would be glad to help.

If  spring cleaning is on your to-do list, you’re not alone. A study conducted by International Communications Research for the Soap and Detergent Association (SDA) found that 66% of Americans regularly conduct spring cleaning. According to the survey of 1,000 American men and women, top priority goes to kitchens, living rooms, master bedrooms, and bathrooms.

Cleaning By Gender

The SDA study found those most likely to do spring cleaning were women aged 35 to 54 and men in the 18 to 24 and 55 to 64 age groups. Women reported feeling most rewarded after cleaning kitchens and bathrooms. Men, however, felt most rewarded cleaning garages and basements–the least rewarding choices for women.

Reasons To Clean

“It just needs to be done,” was the answer 53% of spring cleaners chose when asked why they conduct their annual ritual. Other reasons were to: “Get rid of a winter’s worth of dust and dirt” (22%); “It just makes me feel better” (12%); and, “Get organized” (2%).

Rooms By Rank

When asked what their top cleaning priority was, respondents said:

Most Rewarding Cleans

Least Rewards Cleans

Too Busy?

Of the 1,000 respondents, 22% of women and 11% of men said they were too busy to do spring cleaning. To that response, the SDA has some suggestions:

• Put cleaning on your agenda, just as you do professional and personal appointments.
• List your cleaning priorities and the supplies you’ll need to accomplish the jobs.
• Pick up the supplies you need while making your regular rounds to grocery and drug stores.

Convenience Sells

The report indicated single-use wipes and dust mitts have gained popularity for their ease of use and disposability. Such products are now available for glass, furniture, floors, and even leather upholstery. All-in-one electro-static mops have also found a strong market. Another increasingly popular product: all-in-one battery-operated floor cleaning appliances with cleaning pads and all-purpose cleaning solutions.

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!

FORECLOSURE: What Every Buyer Must Know  In today’s market, you’ll hear lots of terms used to describe “bargain” properties, distressed, short sale, pre-foreclosure, auction, REO, bank owned, foreclosure, foreclosed, and more. Confused? That’s understandable. Some of these terms are interchangeable, some are not, and some cover a whole range of bargain property types.

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

The 5th Annual Justice 4 ALL day will be this Friday March 5, 2012 from 7 am – to 7pm. 

North Carolina residents may call in with any legal question they may have and they may be offered referral resources.  The NC Bar lawyers will have the phones manned with volunteers.  There are  7 call centers in NC.  These are the numbers to call for your area of the State.

Wilmington/Southeastern 1.888.442.3428
Greenville/Eastern N.C. 1.888.616.0614
Raleigh/Triangle Area 1.800.424.9725
Greensboro/Triad Area 1.877.391.6179
Charlotte Area 1.866.616.4255
Asheville/Western N.C. 1.800.289.0013

There is a Spanish-speaking number that may be called from any area of the State -  1.855.455.4255 from 8:30 a.m. to 5:30 p.m.

If you need Real Estate advice, please call us 800-497-7325-3607 or email kaybaker@ec.rr.com – please visit  www.cbbaker.com

Whether you are buying or selling a home, it is a good idea to purchase a home warranty to give you peace of mind.  If you are selling, you can use the warranty as an incentive for the buyer.  I would highly recommend purchasing a warranty when you purchase Wilmington NC real estate, as this gives you 1 year to make sure things are working as they should.  Of course, a home inspection should be done before you purchase to let you see what exactly you are buying.  Coldwell Banker Sea Coast Advantage Realty uses 2-10 Home Buyers Resale Warranty.  If a seller is purchasing a warranty, we can start the warranty at the time of actually listing the house.  The seller is covered during the listing agreement time, and for a extra fee the Seller’s AC/Heat Pump are covered as well.

Provided at the closing of your home or purchased directly from 2-10 HBW*, this warranty covers normal wear and tear to your home’s major systems (furnace, hot water heater, air conditioner, plumbing and electrical systems) and major appliances (refrigerator, oven, dishwasher, built-in microwave, disposal, trash compactor). Complementary to your homeowner’s insurance, your 2-10 HBW warranty covers the repair or replacement of the most frequent and likely home system and appliance breakdowns.

When a covered system breaks down, simply place a claim online or call their toll-free number, and we will immediately dispatch a contractor to make the repair. You pay the contractor a small service fee and we pay the rest for all covered items. You don’t have to hassle with finding a contractor or worry about negotiating the cost of the repair work. In the event that a covered system or appliance cannot be repaired, we will replace it with a system or appliance of comparable or better quality. It’s the perfect solution for today’s busy homeowner.  There are warranty plans for existing homeowners who are not planning on selling as well.

For more information please visit http://www.cbbaker.com/pages.php?page=152