TIMING: Seven Buying And Selling Secrets To Know Before You Relocate

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The secret to a successful relocation is timing — synchronized buying, moving and selling. Good timing just takes a little advance planning that puts you in control. Here are seven relocation secrets to make your move work smoothly for you.

1. Sell First

Ideally, you should sell your current home first in order to have all your financial resources available to purchase your next home. You want to avoid waiting until the closing on your new home forces you to sell your old home under the gun. Note that in some markets today, houses are moving so quickly that sellers will not even consider taking a contingency clause that postpones their sale until the buyer’s home sells. Setting the right price for your home and having a customized marketing plan are your best bets for bringing about a quick sale.

2. Find Out What You Can Afford

{short description of image}While your house is on the market, look at what’s available to buy within your price range in your destination area. Your perfect house is out there, but take as much time as you can to find it. It’s not just the house you’ll have to live with — you’ll want to find out about the neighborhood, the schools, proximity to shopping, etc. before you commit to your next home.

3. Shop For A Loan Before You Shop For A House

Try to lock in the best rate you can find. Get pre-approved for financing so you have more bargaining power when you bid on a house. With a pre-approved loan, you’ll be able to go to closing on your new house faster.

4. Coordinate Settlements And Moving Dates

Try to move directly from the old home to the new one. Sometimes you can rent back the old property for a few days or weeks if closing on the new one is delayed. Another alternative is an interim move to an apartment for a short time while waiting to close on the new house.

5. Begin Fix-Ups And Pre-Sale Improvements Early

Have any needed work completed before your house goes on the market. Consider having a home inspection early in the fix-up process so you know what’s important to repair or replace before you set the sales price for your house.

6. Work Closely With Your Agent

Make sure every “i” is dotted and every “t” crossed on time for both closings. You may save time and money for the buyer of your old home with lower “re-issue” fees by referring them to the previous providers of inspections, surveys, title insurance, etc. The information is in your settlement papers. And, if it’s a busy season, line up appointments in advance with the people you’ll need to close on your new house.

7. Avoid The Last-Minute Rush

Call us early. We’ll gather information and provide it to you quickly so you can make informed decisions and workable plans.

Categories: #selling homes, Buying Wilmington NC real estate, Showcasing your home, Uncategorized

FUHGEDDABOUTDIT | 3 Ways To Avoid Overpricing Pitfalls

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402187Some sellers think pricing their home above what it is worth is a good idea. What could go wrong?

  • A high listing price doesn’t deter buyers because price is negotiable, right?Fuhgeddaboutdit. Buyers are savvy. They know what comparable homes are worth and what they’re selling for at year-end. They might see your home listing online (if it isn’t priced out of their search-price range), but based on its specs, location and price, might simply skip viewing it. And, if buyers don’t tour your home in person, they’re not going to buy it.
  • If buyers don’t like the price, they’ll simply offer less and we’ll still be successful in selling our home.Fuhgeddaboutdit. Buyers often aren’t comfortable offering significantly less than asking price. They are more likely to move on with their money and find another home that is priced reasonably. After all, why offer to buy a home you can’t afford? Others might think they’re wasting everybody’s time bottom-fishing with a huge price reduction.
  • When setting our listing price, we have to clear a specific amount of cash from our home sale.Fuhgeddaboutdit. Buyers don’t care what you need to clear in your home sale. They are focused entirely on your home and what it is worth today—and only today—in the current real estate market. Setting an asking price based on how much you’ve put into the house, how much you need to buy your new home, or what you feel your home is worth doesn’t work with today’s buyers. After all, buyers and the market set market value, not sellers’ hopes.
Categories: Avoid Overpricing, Overpricing a home, Uncategorized, wilmington, wilmington nc, wilmington nc real estate

Veterans Day | Take a moment and thank a Vet

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veteranHappy 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.

Categories: Uncategorized, Veterans Day

“Make A Moving Game Plan.” Moving on in…

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The best first thing you can do when you find out you’re relocatichecklist-ng is to draw up a “game plan” for your move. Make lists for everything. List all the tasks you need to accomplish and try to give a reasonable deadline for each task. This will help you to set priorities so you’ll have a clear idea of what needs to get done and by when.

Here are some items to include on your moving “to-do” list:

Six Weeks Before Moving

  • Make an inventory of everything to be moved.
  • Collect everything not to be moved for a garage sale or charitable donation.
  • Contact the charity for date/time of pickup. Save receipts for tax records.
  • Select mover, arrange for exact form of payment at destination (cash, check). Get cartons and packing materials to start packing NOW, unless you have packing services.
  • Contact insurance agent to transfer/cancel insurance coverage.
  • Check with employer to find out what moving expenses they will pay.

Four Weeks Before Moving

  • Notify all magazines of change of address.
  • Check with veterinarian for pet records and immunizations.
  • Contact utility companies for refunds of deposit, set turn-off date.
  • Contact broker in new community to set up utility turn-on date.
  • Service power mowers, boats, snowmobiles, etc. that are to be moved, drain all gas/oil to prevent fire in moving van.
  • Check with doctors and dentist for all family records and prescriptions.
  • Get children’s school records.
  • Remove all jewelry and other valuables to a safe deposit box or other safe place to prevent loss during move.
  • Give away or arrange for transportation of house plants (most moving companies will not move plants, especially in winter).

One Week Before

  • Transfer or close checking and savings accounts. Arrange for cashier’s check or money order to pay moving company on arrival to new community.
  • Have automobile serviced for trip.
  • Fill out Post Office change of address forms, give to postmaster.
  • Check and make inventory of all furniture for dents and scratches, notify moving company of your inventory and compare on final day.
  • Dispose of all combustibles and spray cans (spray cans can explode or burn).
  • Pack a separate carton for cleaning materials and tools.
  • Separate cartons and luggage you need for personal travel.
  • Organize at least one room in the house for packers and movers to work freely.
  • Cancel all newspapers, garden service, snow removal, etc.
  • Review the entire list to make certain that you haven’t overlooked anything. Check and double-check everthing you have done before it’s too late.
Categories: 2-10 home warranty, Moving, wilmington, wilmington beach homes

LOWER RATE: Seven Smart Ways To Reduce Your Mortgage Rate

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Predicting interest rates in today’s economy is at least as hard as winning in Las Vegas. But even if rates are on the rise, there are a number of options you can exercise to get the lowest rate possible on your home loan. Consider the following strategies.

1. Consider An Adjustable Rate Mortgage (ARM)

{short description of image}Even though the rate on your loan may fluctuate, an ARM will allow you to enjoy a lower monthly payment at the outset. Traditional ARMs adjust every year, but ARMs now exist to suit just about everyone with 3- and 5-year adjustment periods, even a single adjustment at the 7-year mark.

2. Float Down

Financial products introduced recently will lower your rate if market rates fall, but won’t raise it if rates creep up again.

3. Quick Close

If you can settle on your loan quickly (say, 30 days or less), some lenders will agree to shave percentage points off your rate.

4. Lock In

If you fear rates are going to rise, lock in early before they do. Some lenders allow a float-down option, but with an up-front fee.

5. Pay Points

If you’re willing to pay some interest up front (known as points), you can get a fixed-rate mortgage with a lower interest rate.

6. Stay Awhile

If you agree to keep the same loan for five years or longer, some lenders will cut their interest rate. If you do move or refinance before the agreed-upon deadline, you may have to pay a penalty of about 1% of your loan.

7. Use Good Credit To Negotiate

Do you have A-1 credit? If so, you’re a hot commodity for lenders. They may even be willing to reduce closing costs to get your business. If interest rates are firm, ask for a reduction in fees for document preparation, processing, courier services, copying, underwriting, appraisal or application. Other reductions might include: fewer or no points, lender’s attorney’s fee, commission rate (for mortgage brokers) and the credit check fee. On an adjustable rate mortgage, ask for a lower starting rate.With so many options available, you may need a professional to help you choose the best program for your situation. Call us today to see what’s available in your area.

 

Categories: Lower your Mortgage, Mortgage, Mortgage 101

We’re a little tight on cash. How can we shift some settlement costs to reduce out of pocket expenses?

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www.WilmingtonNC-realestate.com
Piggy BankSome buyers reduce the cash needed at settlement by scheduling closing at the end of the month. But there are several other ways to save on closing costs that may work better in the long run.

  • Skip late-month settlement

      Since interest on the loan is paid to the end of the month at settlement, the interest payment gets lower as you get closer to the end of the month. But another approach is to wait a few days until the beginning of the next month. That way, you’ll need to pay more up front at settlement, but you’ll gain a whole month’s delay before the first full mortgage payment is due, because mortgage interest is paid in arrears, after the month has passed.

 

  • Reduce out-of-pocket cash

      Another way to reduce the cash needed at settlement takes some advance planning. By negotiating with the seller, the buyer may be able to pay more for the home and finance it, while the seller puts an equal amount toward out-of-pocket settlement costs.

 

  • Finance closing costs

      A third option is to find a lender who will finance closing costs by wrapping them into the mortgage. This method may, however, cost more over the long run, as lenders often will then charge a higher interest rate for a “no closing costs” loan.
Categories: closing on a home, homes, wilmington, Wilmington NC homes, wilmington nc real estate, wilmington nc relocation, Wilmington nc schools

Waterfront In Wilmington NC | Search By Price Range

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 Waterfront Homes from $100,000 – $200,000 – Find Here

Waterfront Townhomes and Condo’s from $100,000 – $200,000 – Find Here

Waterfront Homes from $200,000 – $400,000 – Find Here

Waterfront Townhomes and Condo’s from $200.000 –  $400,000 – Find Here

Waterfront Homes from $400,000 – Find Here

 Waterfront Townhomes and Condo’s from $400,000 – Find Here

 Waterview Homes, Townhomes and Condo’s – Find Here

                                          Waterfront and Waterview Foreclosures – Find Here
 
                                           Waterfront and Waterview Shortsales – Find Here
 
                                             To Search Different Criteria and Want’s – Find Here

 To live by the water is devine…

Categories: Uncategorized, wilmington nc real estate, wilmington nc relocation, Wrightsville Beach makes Top 20 Surf Towns, Wrightsville Beach NC

TOP IT OFF RIGHT Kitchen Countertops Set A Whole New Style | Wilmington NC real estate

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Kitchen remodeling is among the most popular projects undertaken by homeowners — and the most profitable in terms of recouping the investment when the home is sold. One of the major decisions faced by anyone remodeling a kitchen is choosing a countertop.

Ideally, countertops will resist damage from heat, cold, acid burns, cuts, salt, water and various types of stains — and be easy to clean and maintain. It’s a tall order to fill, but a variety of choices are available these days that meet many, if not all, of those requirements.

Plastic Laminate And Ceramic Tile
These materials have long been popular choices because of their relatively low cost and easy installation. Laminates now come in many designs, including granite look-alikes. This variety makes it easy to coordinate a laminate top with wood cabinetry, metal details and other custom features. It is, however, susceptible to burns and scratches. And because laminate is not a solid surface, replacement may be necessary if damage occurs.

Ceramic tile has a classic look about it, provides a durable surface, and offers great variety in color and design. On the down side, its uneven surface makes it harder to keep clean, especially in the grout joints. Acrylic sealers have been developed to help resist grout staining.

Solid-Surface Materials
Countertops of solid-surface materials (e.g., Corian®) have become a popular, if more expensive, choice. Because color and pattern run all the way through this material, repairs are possible when damage occurs.

Other Options
Natural stone (granite is now popular, though expensive), butcher-block wood, stainless steel, poured concrete, and “labtop” (fiber-reinforced cement) are also being used in today’s kitchens. They’ll cost you more but look good and last for decades.

Costs
The cost of countertop materials varies greatly from as little as $1 per
linear foot for inexpensive ceramic tile to $150 per linear foot for high-grade stainless steel. Don’t forget to consider the cost of installation, as well, which generally increases with the cost of materials.

Look on www.cbbaker.com and visit some listings to get a view of some of the awesome kitchens.   Happy Homeowning!

Categories: free legal advice, home inspection, kitchen remodeling, robert downey jr., Screen Gems Studio, wilmington nc real estate, wilmington nc weekly events

To Fix or Not To Fix | 6 Staging Tips that are Worth it

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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.

Categories: Showcasing your home, staging a home, Uncategorized, wilmington nc real estate, wilmington nc weekly events, worlds largest christmas tree, Wrightsville Beach NC

April 2011 Wilmington NC real estate Statistics

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May and June are usually some of our biggest months when it comes to home sales. Our pending index is climbing; you can see our mountain tops when you look at the sold units, now go and look at the chart you will see the mountain peaks during the summer season.

Economically – Our congress will be working on our current debt ceiling? Do they raise it? Other areas are slow to come around, inflation is trying to work its way back in while employment numbers are looking better each month. Unemployment rose back up to 9.0%. Hopefully we will come out of this economic funk real soon; this current economic crisis has affected so many lives and financial interests of individuals as well as companies.

April just stole all our gains for March with a decrease in sold homes and average sales price.  The average sold price dropped to $206,698 a 14.9% loss over last month. Our sold units hit 383 a large decrease from last month. Sold units are down 33 units from last month and up 52 from April 2009. One point to keep in mind is that last year this time we were still dealing with the First Time Homebuyers Tax Credit. In the month of April we saw an increase of 40 homes in our listing inventory, we have 4,887 homes on the market as of May 1st. This adjusted our month’s supply with just over 12.7 months a slight increase from last months 11.8. With the low sales in April this affects our month supply. Our average list price has started the year under $350,000 range; we are currently at $349,067. In April sellers paid concessions in about 30.0% of all the month’s transactions about the same as last month. Our average days on the market decreased to 148 days – we are now talking 5 months on the market. The list to sold ratio has increased a little to 93.8% this number needs to continue to get better. The number of homes that sold in 15 days or less continues to remain very low, 8.6% of April sold homes. The 30-year fixed-rate mortgage (FRM) averaged 4.63% with an average 0.7 points for the week ending May 12, 2011. We have seen decreases the last 5 weeks. Call me so I can show you or your clients how they can get the benefit of these rates. Have a great week and let me know what I can do to help you and your clients.

Despite all the media comments about our markets we are still lending money for residential mortgages. If a client has income and credit and some sort of down payment; they can get a mortgage. It goes to the basic three C’s – Capacity, Collateral and Character.

For the complete Inventory update and graphs read more here…

Source – David Flory Cunningham Mortgage

Categories: Buying Wilmington NC real estate, Uncategorized, Wilmington NC Market Statistics, Wilmington NC Neighborhoods, wilmington nc real estate, wilmington nc weekly events


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.