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Wilmington NC real estate

Blog about Wilmington NC real estate

By Baker, Wayne & Associates | Broker in Wilmington, NC
  • MYTH: "Buying the most expensive home you can afford makes economic sense."

    Posted Under: General Area in Wilmington, Home Buying in Wilmington, Investment Properties in Wilmington  |  July 21, 2014 7:35 AM  |  36 views  |  2 comments

    REALITY: When homes in an area are appreciating rapidly, it may be a good idea to buy as much as you can afford. The more you invest, the more you'll get back when you sell, assuming the market remains strong.

    Buyers should exercise greater caution, however, during times of slower appreciation. The extra money paid for that "most expensive" home might bring a better return if invested elsewhere.

    In either case, make certain you don't bite off more, financially, than you can chew.

    AVOID BECOMING HOUSE POOR...  Read rest of story here...

    Today's buyers want to save money even after they purchase a home. How? With energy-saving elements in the homes they buy that will save them money long term. Smart buyers get details on the types of windows, insulation, appliances and systems in a home for sale, and depending on what they find out, make plans to remodel with eco-friendly, money-saving items.

    When you sell your home, be sure to list all its green features—from water saving faucets to solar panels, high-efficiency furnace to EnergyStar® appliances. Buyers want to know the nitty gritty, so serve up the past year or two of utility bills to give them an idea of what expenses will be like after the sale closes too.

    Hot News: Remember the looming phase-out of incandescent light bulbs? We'll, they're back. Thanks to the recent budget deal passed by Congress. It's still a good idea to replace your incandescent bulbs with energy-saving LEDs and CFLs because they last longer, use less electricity and reduce electric bills.

  • Only 166 more days left of 2014 | Better have fun this weekend!

    Posted Under: Quality of Life in Wilmington, Entertainment & Nightlife in Wilmington, In My Neighborhood in Wilmington  |  July 18, 2014 12:18 PM  |  37 views  |  No comments

      Hello and welcome to the Scoop

    Sorry please see scoop here...

    http://www.cbbaker.com/blog/only-166-more-days-left-in-2014-better-have-fun-this-weekend/

      Saturdays

    8:00 AM- 1:00 PM

     Riverfront Park

    ~

    Poplar Grove Plantation

    Wednesday from 8:00 AM to 1:00 PM,

    ~

    Carolina Beach Farmers' Market

    Saturdays
    8:00 - 1:00 PM

     Carolina Beach Lake Park


    Airlie Gardens Summer Concert Series

    L Shaped Lot

    July 18, 2014
    6:00 PM

    Airlie Gardens


    Forget About It

    by Z.F. Mims and directed by Nick Reed.

    July 18, 19   8:00  PM

    July 20,  5:00 PM
    http://browncoattheatre.com/

    Browncoat Pub & Theatre


    Red

    July 17- July 20, 2014
    7:30 PM

    Red Barn Studio Theatre


    Art Exhibit: Billy Cone Works

    June 30, 2014 to August 8, 2014
     

    WHQR Gallery


    Time to Laugh Again

    New Comedy Bar

    Jared Logan

    July 18 & July 19

    showtimes 8 & 10

    Dead Crow Comedy Room

    PURCHASE TICKETS ONLINE. 

    http://deadcrowcomedy.com


    Movie at the Lake - Carolina Beach

    Super Buddies

    July 18, 2014

    FREE

    At Dusk

    Carolina Beach Lake Park


       

     

          Wilmington NC  Night Spots

     Friday July 18

    Stray Local - Ted's on the River

    Overtyme - Gabby's WB

    Masonboro Sound - Sweet and Savory

     

    Saturday July 19
     

    Grove Fetish - Reel Cafe

    Jerry Powell - Sweet and Savory

    Ponder - Seawitch


    Sunday July 20

    Central Park - Bluewater Grill


    Greek Oven Roasted Delicious Potatoes

    8 large potatoes, peeled, cut into large wedges (about 6-7 wedges per potato)
    4 garlic cloves, minced (more garlic is a good thing, less garlic is a no-no for this recipe)
    1/2 cup olive oil
    1 cup water
    1 tablespoon dried oregano (get the Mediterranean, it's the best!)
    1 lemon, juiced
    sea salt
    fresh coarse ground black pepper


    1
    Preheat oven to 420°F A reviewer has suggested spraying the baking pan with Pam - that sounds like a great idea!
    2
    Put all the ingredients into a baking pan large enough to hold them.
    3
    Season generously with sea salt and black pepper.
    4
    Make sure your hands are very clean and put them in the pan and give everything a toss to distribute.
    5
    The garlic will drop into the water/oil solution but its flavour will permeate the potatoes, and this way, it won't burn.
    6
    Bake for 40 minutes.
    7
    When a nice golden-brown crust has formed on the potatoes, give them a stir to bring the white underside up, season lightly with a bit more sea salt and pepper and just a light sprinkling of oregano.
    8
    Add 1/2 cup more water if pan appears to be getting dry, and pop back into oven to brown other side of potatoes.
    9
    This will take about another 40 minutes.
    10
    Do not be afraid of overcooking the potatoes- they will be delicious.
    11
    Note: I often melt a bouillon cube in the water; if you do, make sure to cut back some on the salt.

     


    mobile.cbbaker.com

    Real estate on the go...

    or online www.cbbaker.com


    Greek Oven Roasted Delicious Potatoes

    8 large potatoes, peeled, cut into large wedges (about 6-7 wedges per potato)
    4 garlic cloves, minced (more garlic is a good thing, less garlic is a no-no for this recipe)
    1/2 cup olive oil
    1 cup water
    1 tablespoon dried oregano (get the Mediterranean, it's the best!)
    1 lemon, juiced
    sea salt
    fresh coarse ground black pepper


    1
    Preheat oven to 420°F A reviewer has suggested spraying the baking pan with Pam - that sounds like a great idea!
    2
    Put all the ingredients into a baking pan large enough to hold them.
    3
    Season generously with sea salt and black pepper.
    4
    Make sure your hands are very clean and put them in the pan and give everything a toss to distribute.
    5
    The garlic will drop into the water/oil solution but its flavour will permeate the potatoes, and this way, it won't burn.
    6
    Bake for 40 minutes.
    7
    When a nice golden-brown crust has formed on the potatoes, give them a stir to bring the white underside up, season lightly with a bit more sea salt and pepper and just a light sprinkling of oregano.
    8
    Add 1/2 cup more water if pan appears to be getting dry, and pop back into oven to brown other side of potatoes.
    9
    This will take about another 40 minutes.
    10
    Do not be afraid of overcooking the potatoes- they will be delicious.
    11
    Note: I often melt a bouillon cube in the water; if you do, make sure to cut back some on the salt.

     


    mobile.cbbaker.com

    Real estate on the go...

    or online www.cbbaker.com


    Wilmington Sharks Baseball

    July 17- July 18, 2014
    7:05 PM

    Buck Hardee Field-Legion Sports Complex


    The Farmer's Markets are BACK!

      Saturdays

    8:00 AM- 1:00 PM

     Riverfront Park

    ~

    Poplar Grove Plantation

    Wednesday from 8:00 AM to 1:00 PM,

    ~

    Carolina Beach Farmers' Market

    Saturdays
    8:00 - 1:00 PM

     Carolina Beach Lake Park


    Airlie Gardens Summer Concert Series

    L Shaped Lot

    July 18, 2014
    6:00 PM

    Airlie Gardens


    Forget About It

    by Z.F. Mims and directed by Nick Reed.

    July 18, 19   8:00  PM

    July 20,  5:00 PM
    http://browncoattheatre.com/

    Browncoat Pub & Theatre


    Red

    July 17- July 20, 2014
    7:30 PM

    Red Barn Studio Theatre


    Art Exhibit: Billy Cone Works

    June 30, 2014 to August 8, 2014

    WHQR Gallery


    Time to Laugh Again

    New Comedy Bar

    Jared Logan

    July 18 & July 19

    showtimes 8 & 10

    Dead Crow Comedy Room

    PURCHASE TICKETS ONLINE. 

    http://deadcrowcomedy.com


    Movie at the Lake - Carolina Beach

    Super Buddies

    July 18, 2014

    FREE

    At Dusk

    Carolina Beach Lake Park


       

          Wilmington NC  Night Spots

     Friday July 18

    Stray Local - Ted's on the River

    Overtyme - Gabby's WB

    Masonboro Sound - Sweet and Savory

    Saturday July 19

    Grove Fetish - Reel Cafe

    Jerry Powell - Sweet and Savory

    Ponder - Seawitch


    Sunday July 20

    Central Park - Bluewater Grill


    Greek Oven Roasted Delicious Potatoes

    8 large potatoes, peeled, cut into large wedges (about 6-7 wedges per potato)
    4 garlic cloves, minced (more garlic is a good thing, less garlic is a no-no for this recipe)
    1/2 cup olive oil
    1 cup water
    1 tablespoon dried oregano (get the Mediterranean, it's the best!)
    1 lemon, juiced
    sea salt
    fresh coarse ground black pepper


    1
    Preheat oven to 420°F A reviewer has suggested spraying the baking pan with Pam - that sounds like a great idea!
    2
    Put all the ingredients into a baking pan large enough to hold them.
    3
    Season generously with sea salt and black pepper.
    4
    Make sure your hands are very clean and put them in the pan and give everything a toss to distribute.
    5
    The garlic will drop into the water/oil solution but its flavour will permeate the potatoes, and this way, it won't burn.
    6
    Bake for 40 minutes.
    7
    When a nice golden-brown crust has formed on the potatoes, give them a stir to bring the white underside up, season lightly with a bit more sea salt and pepper and just a light sprinkling of oregano.
    8
    Add 1/2 cup more water if pan appears to be getting dry, and pop back into oven to brown other side of potatoes.
    9
    This will take about another 40 minutes.
    10
    Do not be afraid of overcooking the potatoes- they will be delicious.
    11
    Note: I often melt a bouillon cube in the water; if you do, make sure to cut back some on the salt.


    mobile.cbbaker.com

    Real estate on the go...

    or online www.cbbaker.com



    802 Trace Drive -

    Ready Now!

    http://www.cbbaker.com/idx/residential/206088/

    www.marshlandingplace.com

     

    Lot 10 Trace Drive  -Call us!


     The Townes at Carleton

     FROM 179,000 -

    Call Robin Jones - On Site Agent

    910-619-0491

     details at www.thetownesatcarleton.com


      Thinking of Selling?

    To find out what your home is really worth.....

    visit www.housevalueswilmington.com

      Find your dream home at a price

      you can afford.

     www.dreamhomesofwilmington.com

     FAST, EASY, AUTOMATIC and FREE!

      Free list of homes with pictures delivered to your email.

    www.cbbaker.com


    We would like to personally thank you for your time and we hoped you've enjoyed hearing the Scoop.

     Please feel free to pass this information along!


    linked in wilmington nc real estate

    Active RainFacebookTwitterLinkedInYouTubeMy Blog (Blogger)My Blog (Wordpress) 


     


    Wilmington Sharks Baseball

    July 17- July 18, 2014
    7:05 PM

    Buck Hardee Field-Legion Sports Complex


    The Farmer's Markets are BACK!

      Saturdays

    8:00 AM- 1:00 PM

     Riverfront Park

    ~

    Poplar Grove Plantation

    Wednesday from 8:00 AM to 1:00 PM,

    ~

    Carolina Beach Farmers' Market

    Saturdays
    8:00 - 1:00 PM

     Carolina Beach Lake Park


    Airlie Gardens Summer Concert Series

    L Shaped Lot

    July 18, 2014
    6:00 PM

    Airlie Gardens


    Forget About It

    by Z.F. Mims and directed by Nick Reed.

    July 18, 19   8:00  PM

    July 20,  5:00 PM
    http://browncoattheatre.com/

    Browncoat Pub & Theatre


    Red

    July 17- July 20, 2014
    7:30 PM

    Red Barn Studio Theatre


    Art Exhibit: Billy Cone Works

    June 30, 2014 to August 8, 2014
     

    WHQR Gallery


    Time to Laugh Again

    New Comedy Bar

    Jared Logan

    July 18 & July 19

    showtimes 8 & 10

    Dead Crow Comedy Room

    PURCHASE TICKETS ONLINE. 

    http://deadcrowcomedy.com


    Movie at the Lake - Carolina Beach

    Super Buddies

    July 18, 2014

    FREE

    At Dusk

    Carolina Beach Lake Park


       

     

          Wilmington NC  Night Spots

     Friday July 18

    Stray Local - Ted's on the River

    Overtyme - Gabby's WB

    Masonboro Sound - Sweet and Savory

     

    Saturday July 19
     

    Grove Fetish - Reel Cafe

    Jerry Powell - Sweet and Savory

    Ponder - Seawitch


    Sunday July 20

    Central Park - Bluewater Grill


    Greek Oven Roasted Delicious Potatoes

    8 large potatoes, peeled, cut into large wedges (about 6-7 wedges per potato)
    4 garlic cloves, minced (more garlic is a good thing, less garlic is a no-no for this recipe)
    1/2 cup olive oil
    1 cup water
    1 tablespoon dried oregano (get the Mediterranean, it's the best!)
    1 lemon, juiced
    sea salt
    fresh coarse ground black pepper


    1
    Preheat oven to 420°F A reviewer has suggested spraying the baking pan with Pam - that sounds like a great idea!
    2
    Put all the ingredients into a baking pan large enough to hold them.
    3
    Season generously with sea salt and black pepper.
    4
    Make sure your hands are very clean and put them in the pan and give everything a toss to distribute.
    5
    The garlic will drop into the water/oil solution but its flavour will permeate the potatoes, and this way, it won't burn.
    6
    Bake for 40 minutes.
    7
    When a nice golden-brown crust has formed on the potatoes, give them a stir to bring the white underside up, season lightly with a bit more sea salt and pepper and just a light sprinkling of oregano.
    8
    Add 1/2 cup more water if pan appears to be getting dry, and pop back into oven to brown other side of potatoes.
    9
    This will take about another 40 minutes.
    10
    Do not be afraid of overcooking the potatoes- they will be delicious.
    11
    Note: I often melt a bouillon cube in the water; if you do, make sure to cut back some on the salt.

     


    mobile.cbbaker.com

    Real estate on the go...

    or online www.cbbaker.com



    802 Trace Drive -

    Ready Now!

    http://www.cbbaker.com/idx/residential/206088/

    www.marshlandingplace.com

     

    Lot 10 Trace Drive  -Call us!


     The Townes at Carleton

     FROM 179,000 -

    Call Robin Jones - On Site Agent

    910-619-0491

     details at www.thetownesatcarleton.com


      Thinking of Selling?

    To find out what your home is really worth.....

    visit www.housevalueswilmington.com

      Find your dream home at a price

      you can afford.

     www.dreamhomesofwilmington.com

     FAST, EASY, AUTOMATIC and FREE!

      Free list of homes with pictures delivered to your email.

    www.cbbaker.com


    We would like to personally thank you for your time and we hoped you've enjoyed hearing the Scoop.

     Please feel free to pass this information along!


    linked in wilmington nc real estate

    Active RainFacebookTwitterLinkedInYouTubeMy Blog (Blogger)My Blog (Wordpress)


      Tired of your Computer Not Working Right?

    then fix it....


    For all your Party Needs....

     4013 Oleander Dr. 910-791-0024

    www.partysuppliers.net


    Shelton Metal

    Colby S. Byrd, Metal Designer

    www.sheltonmetal.weebly.com



    Call for Mortgage Quotes


     

    Awesome Food and People

    Keith and Angela Rhodes

    http://catchwilmington.com/ 


    Get out and dance!  Great fun lessons by Verna

    Ballroom - Latin - Swing - Waltz - Cha Cha

    Rumba - Salsa - Tango - Shag/Swing

    www.BallroomDanceSpotNC.com

    910-799-2001


    Need Automobile Work?

    Trust Labriola's Automotive

    UTI Trained, Foreign, Domestic, A/C Testing & Repair

    Diagnostics, Electronic Troubleshooting, Engine De-Carbon Service, Major or Minor Repair.

    Owner: Brent Labriola  910-297-2590  brent@capefearauto.com

    Dutch Square  Wilmington NC 28405


    Great Family Skate Center

    http://www.skatejellybeans.net/


      

    910-508-6100 or podsenc@gmail.com

    Call Blaine Daniel for quotes and possible discounts


    Ever wish you had a PERSONAL ASSISTANT

       someone you could call on to accomplish

    the day-to-day tasks and time consuming errands

    that leave time for little else?

    Well, now you have help..

    Call Mary Cook Task Manager

    801-455- 1721


      SEA SALT BAKERY

    Longtime Wilmington Chef David Herring has opened a new bakery in Hampstead

    called "Sea Salt"  Wonderful muffins and baked goods and  'SOUPS' !

    (910) 270-1407

    17011 US Highway 17 N

    Hampstead, NC 28443


    Stress Free Dog Grooming

    http://www.dogslifesalon.com/


    Do you own a Historic House? In need of renovation?

    Call David Thomas - Historic Specialist

    910-520-0581

    http://www.dptconstruction.com/


    Need a mountain vacation?

    Check out this condo in NC - Echota on the Ridge

    http://www.homeaway.com/vacation-rental/p232207

     


    Brave battle fought Kimberly.  We will miss you.


     Have a great weekend!

  • NEXT HOME 5 Smart Steps To Downsize, Right Size Or Cross Size

    Posted Under: Home Buying in Wilmington, Home Selling in Wilmington, Investment Properties in Wilmington  |  July 16, 2014 11:00 AM  |  32 views  |  No comments
    www.wilmingtonnc-realestate.com

    Even if you've never thought about your retirement plan, the desire to move can arise when your kids leave home, when a grandchild is born—or when maintaining (and paying for) the old place becomes too much. No matter if you're near retirement age, retired already, left work behind long ago—or know someone who has—all sorts of reasons can trigger the need to downsize, right size or make a cross-ways move in today's market.

    Consider All Your Possibilities
    If it has been years since you last moved, know that our local market has changed...a lot. To avoid costly missteps, retired home sellers need to revisit the basics of real estate, plus some unique issues while looking for your retirement dream home. With careful research, you'll be less likely to make a relocation choice you'll regret later.

    STEPS 1 & 2: Get On The Right Path—Right From The Start
    If you're currently a homeowner, STEP 1 is to keep reading to bring a plan for your dream home into focus. Then (STEP 2) call us to determine how much cash you'll likely pocket from your home's sale. We'll conduct a comparative market analysis to determine your home's current value and listing price. Then we'll help you crunch the numbers to find out how much walk-away cash you'll have to apply to the purchase of your new home in your retirement destination.

    STEP 3: Select Your Dream Location Carefully
    Your may love our area, but moving somewhere with a lower cost of living can be a critically important decision. Carefully consider the tax consequences of moving to various states (or countries!) and how taxes will impact your investments and income.

    Perhaps living closer to children and grandchildren will make both your life and their lives easier. TIP: Be sure to ask family members' opinions about you moving closer to—or further away from them before you take such a step.

    For the locations you're considering, determine the predominant age range, lifestyle and mindset of the population. Will you fit in? Or, will you feel like an outsider, even after living there for some time? Do you prefer to live in a community for those 55 and better, or in a traditional setting with a mix of ages? TIP: One advantage of new construction projects is all the neighbors are new.

    STEP 4: Visualize Your Dream Home
    It's easy to say you want a condo or a single-family home for retirement, but there are many inside-the-home elements to consider. Items on your must-have list may include: no stairs at all; an elevator; one, two or three extra bedrooms to accommodate guests and/or office space; first floor location or upper floor with a view preference; reserved parking space or covered parking; extra storage areas; aging in-place features such as wide doorways and low countertops; etc.

    Once you determine your immediate needs, it will be easier to locate and select homes to visit. And, you can narrow down the communities you're interested in as well. TIP: Identify features of your current home that are bothersome and you'd like to change, as well as those things you love and want to duplicate.

    STEP 5: Preparation Smooths Every Transition
    No life transition is ever easy. Be as open-minded and flexible as you can while still meeting your needs. We are happy to answer all the real estate and relocation questions you have along the way and are always available to work with you locally. Through our trusted network of relocation specialists, we can refer you to top-quality real estate professionals in other locations around the state, across the country or even abroad.

    Call us anytime.  910-202-3607 or bakerwayneassociates@ec.rr.com

  • 12 Step Home Buyer Program | Wilmington NC

    Posted Under: General Area in Wilmington, Home Buying in Wilmington, Investment Properties in Wilmington  |  July 15, 2014 11:37 AM  |  71 views  |  No comments
    www.WilmingtonNC-realestate.com

    HOME BUYERS IN WILMINGTON, NC

    Buying a home is probably the largest financial commitment you'll ever make in your lifetime. The buying process can either be a rewarding experience or one of the biggest nightmares you'll ever have. Your overall experience will be determined not only by how well prepared you are, but also by how knowledgeable those persons helping you are. While there is no pre-defined path to a pleasant home-buying experience, there are steps that you as a homebuyer can take to ensure a smooth transaction.

    1. Selecting a Realtor in Wilmington, NC

    This will probably be the most important step in the home buying process. Although not everyone chooses to use a Realtor when searching for their home, enlisting the aid of a Realtor can make all the difference in the home buying process. A Realtor is your partner (for all intents and purposes) on your journey to home ownership. They will be your confidant, both on a business and personal level. They will also be your guide, providing advice and recommendations that are in your best interest. Your Realtor will be the one dealing with any problems encountered along your journey, helping to relieve you of some of the stress often associated with the home buying process.

    For these reasons, it is important that you be selective when searching for a Realtor. Choose someone that makes you feel comfortable and that listens to your needs. If necessary, ask the agent to provide references. Most agents are accustomed to this request and will not object to your asking. Once you select an agent that you're comfortable with, be sure to sign a buyer's agent agreement. This will insure that the agent you've selected is working for and representing you exclusively.

    2. Home Buyer's Consultation

    This is where the groundwork is laid for the search for your new home. There are several points that you'll want to cover in your initial consultation. Make sure you cover, and fully understand, the following points with your agent. These points are just a guideline and are in no way absolute. You may have other issues that you would like to address with your agent. Just consider these points a way of getting started.

    • Define exactly what your needs are, such as the number of bedrooms, number of bathrooms, the size of the kitchen, where you want to live, what your price range is, what your timeline is, and so on. 
    • Let the agent know how often and at what times you'll be available to look at prospective homes. Verify all your contact information and exactly how you want the agent to contact you (such as email, phone, etc.). You'll also want to specify just how often you'd like to be updated.
       
    • Ask the agent about financing. While your agent is not a broker, he/she can give you a better understanding of the different types of loan programs available, and refer you to lenders that can answer your specific questions.
    • Cover the paperwork. Many agents have copies of all the paperwork you'll be required to sign throughout the buying process. While not absolutely necessary, this will allow you the advantage to ask questions about documents before it's actually time to sign them.
    • Sign a buyer broker agreement. This protects you and the agent by confirming that the agent is going to represent you and your interests only throughout the entire process.

    3. Selecting a Lender

    For the most part, selecting a lender is a matter of personal preference. Many people often shop around, looking for a lender that offers the lowest rate. More often, however, people will choose a lender based on a referral from an agent or friend. Most lending institutions will offer the same basic programs, such as FHA, VA, conventional fixed rate, etc.; and most will meet or beat another lender's rates. What usually separates one lender from another is their "niche" product. An example would be a lending institution that specializes in low down payments, as compared to another that specializes in self-employment financing. Most agents will be able to point you in the right direction based on your particular situation.

    4. Meeting the Lender

    In most cases, this will happen in conjunction with step 3. Once you've selected a lender, you'll want to speak with a loan officer as quickly as possible. At this point, there is one thing you should know. Pre-qualifying means absolutely NOTHING. All pre-qualifying does is determine the amount of the loan you could qualify for based on a few factors such as your credit, salary, etc. This does not guarantee in any way, that a lender will actually loan you the money.

    If you want to have one over on the next guy, get PRE-APPROVED. Pre-approval means that your application has been submitted to a lender who is willing to extend you a loan up to a specific amount, pending a property and appraisal. Being pre-approved not only makes you, the buyer, more comfortable knowing you won't be denied for a loan, it also provides you with leverage to negotiate the purchase price of a home with the seller. From the seller's standpoint, a buyer who's been pre-approved is a buyer with "cash-in-hand", who's serious about purchasing the home with little worry about the deal falling through. Just be sure that once you've been pre-approved, you have a clear understanding of what your total estimated payment will be and the estimated cash you will need to complete the loan (from beginning to closing).

    5. Find a Home

    This is often the most thrilling part of the process. But, if you're not careful, it can get out of hand. The best way to proceed is to limit the number of homes you look at in a single day. Visiting too many homes back to back can make it difficult to remember one house from another. It's usually a good idea to create a checklist of homes to look at, and check them off as you visit them. Not only is this helpful in reminding you of which homes you visited, it will also allow you to eliminate homes from your search more quickly. For instance, if you liked house #2, but found house #3 more enticing, then you could eliminate house #2 right away. Just remember, communication is crucial. Make sure that you can explain to your agent why you like or don't like a particular house. The more you communicate with your agent about your preferences, the better he/she will be able to find exactly what you're looking for.

    6. Select a Home

    After narrowing the search down to 2 or 3 homes that you are really interested in, your agent will do whatever research is necessary to aid you in making your decision. Ultimately, however, it is your decision. Some tools that can help you make that final decision can include school reports (if you have or are planning on having children), statistical information of interest from the local chamber of commerce, future zoning or road expansion from local planning offices, etc. Whatever the factors of importance are to you when purchasing your home, have the agent help you find that information.

    Once you have selected a single home to focus on, your agent will conduct a comparative market analysis on that property. This involves determining "fair market value" by looking at what other buyers were willing to pay for properties similar to yours in the same neighborhood or area.

    7. Making an Offer

    Now that you know the "fair market value" of the home you've settled on, it's time to determine just how much and under what terms you are willing to pay for the home. Establishing this prior to making a formal offer helps you to define your personal limits. You will need to determine how much you will offer, how much earnest money deposit you will offer, how much of the closing costs you will ask the seller to pay, when you plan to settle, and what inspections you plan to have conducted. Your agent can offer tons of great advice for structuring your offer. Remember to ask your agent about contingencies and their importance in writing an offer. If you don't fully understand something, be sure to clarify it.

    After presenting your offer, a seller will do one of three things. Accept your offer outright, reject it, or counter your offer. It's quite possible for the counter process to go back and forth several times. It's important to be flexible during this phase. Determine what's negotiable and non-negotiable. Be willing to give a little on things of lesser importance to you. This will help the negotiating process immensely. The main thing to remember is to stay cool and objective. Everyone has the same goal in mind: to complete the transaction.

    8. Inspections and Contingencies

    HAVE A HOME INSPECTION DONE! This is a very necessary process, used to ensure that your new home is free from defects that could potentially cost you thousands of dollars later to repair. Home inspections will often reveal problems that you can have the seller correct before agreeing to purchase the home. This is known as a contingency.

    Most offers are usually contingent offers. This means, that the offer is contingent on another factor, such as a favorable home inspection or the ability to obtain insurance. In general, contingencies are safeguards for both buyers and sellers, but should not be overdone. In addition, it is important to meet all deadlines and that all contingencies are met exactly the way the offer describes. Your agent is responsible for making sure contingencies are written correctly.

    9. Selecting an Attorney

    The sales contract will decide who gets to choose the attorney to represent the sale. This is normally the buyer's decision. If you don't have a particular attorney or title company in mind, your agent can recommend one. The attorney is responsible for ordering a survey, title insurance, conducting a title search, and drawing up all of the documentation. They will also conduct a settlement. It is important to note that the attorney does not represent the buyer, nor seller. They represent the transaction itself. Their job is to make certain that all of the terms previously agreed to have been met. If any problem(s) were to arise, the buyer and seller would need to retain separate attorneys to resolve the issue(s).

    10. The Walk-Through

    Most sales contracts allow you, the buyer, a pre-settlement inspection of the home. This is basically the last chance you have before signing to ensure that everything is satisfactory. You'll want to read the contract carefully, but most read that all electrical systems, plumbing, appliances, heating, and air conditioning units are in good working order at the time of settlement. You'll want to pay particular attention to these items. You'll also want to pay close attention to anything the seller agreed to repair or replace as part of the sales contract. If for some reason, the seller has not repaired or replaced a particular item, you have several options. The seller can:

    A. Remedy the issue prior to settlement
    B. Credit you the amount of money it would take for you to have it fixed/replaced, or
    C. Promise to correct the issue and place into escrow with the attorney the amount of money that would be needed for you to resolve the problem, should the seller fail to make good on the promise.

    On new home purchases, a pre-settlement walkthrough works a little differently. The builder will usually do a walk-through with a buyer 1 to 2 weeks before closing to create a "to-do" list of items that need to be corrected. Hopefully, they will get everything completed by the settlement date. If not, most new-sales contracts allow the builder to complete any remaining repairs within a reasonable period of time after closing (usually 90 days).

    11. The Closing

    This is the day you "sign your life on the dotted line". At this point, you will be signing all of the loan documentation, which can seem never-ending. During the settlement, the attorney should be able to explain every document to you in a satisfactory manner. Do not ever feel intimidated. If you come across something you don't understand, don't sign. Your agent will help your understand everything. If you like, you can request blank copies of the documents you will be signing in advance so that you can carefully review them. You will decide at the settlement whether your want owner's title coverage or just lender's. You will have to present whatever down payment and closing-cost funds you were expected to pay. This check must be certified as personal checks are usually not accepted.

    12. Moving In

    This is the last and probably the most daunting part of the home buying process. Be sure to plan wisely, and provide yourself with a timeline and checklist to follow. You'll want to decide whether to hire a moving company or rent a truck and go it alone. It's usually best to compare the cost of moving your items yourself, with quotes from a couple moving companies. Most movers will usually ask to come to your home, so they can get an idea of how much they will have to move and the distance they will need to travel. Don't forget to submit your change of address forms with the post office, your banks, and any creditors at least 30 days in advance. Call to confirm receipt of your new address information to reduce the chances of late payments. Also, it's usually a good idea to notify your utility companies of your move at least 10 days prior to your scheduled move-in date. This will allow them time to schedule disconnects and hookups that coincide with your moving schedule. If you planned well, everything should go smoothly.

    Extensive Coldwell Banker Sea Coast Advantage Wilmington NC Concierge Service List for you to use when buying or selling a home. 

    Wilmington NC Concierge List

    http://www.cbbaker.com

  • Ultimate Guide to Closing Costs | Buy a Home

    Posted Under: General Area, Home Buying, Financing  |  July 11, 2014 8:24 AM  |  59 views  |  1 comment
    www.WilmingtonNC-realestate.com

    Depending on where you live, the price of your home, your lender’s terms, the distribution of fees charged to buyer and/or seller, and other factors, your closing costs on the purchase of a home may range anywhere between 3% and 7% of the home price, sometimes more or less.

    Typical buyers’ closing charges include:
    • Loan origination fee, usually 1% of your mortgage amount
    • Discount point (or points), each usually 1% of your mortgage amount
    • Assumption fee (if you assume the seller’s old mortgage)
    • Title search fee
    • Lender’s title insurance fee
    • Owner’s title insurance fee (optional, but advisable)
    • Survey fee (if applicable)
    • Two fees that may have been paid when you applied for your loan:
      • Appraisal fee
      • Credit report fee
    • Lender’s inspection fee
    • Recording fees
    • Prepaid interest on your mortgage, covering the time between settlement and the first regular monthly payment
    • Prepaid mortgage insurance premium
    • Property tax, possible reimbursement to seller and/or payment on future taxes
    • Assessment, possible 1-to-3-month local improvement charge or association fee (especially applicable to condominium buyers)
    • Lawyer’s fees (if applicable)
    Your lender must, by law, supply you with a pre-settlement "Good Faith Estimate." It will not necessarily identify all actual costs. At settlement, however, you receive a "Settlement Statement" that contains all the specific actual charges.

    Since occasional unexpected costs may surface at settlement, it is well to be prepared for possible $200 or $300 in extras at your closing. Extra costs usually involve partial payments for items you had not previously considered but, at closing, wish to pay for: fuel oil left in the seller’s tank, firewood, continuation of lawn service, or the purchase of a major appliance. 

    Since actual costs vary, call or e-mail us for typical figures in your area. Your calls and e-mails are always welcome. bakerwayneassociates@ec.rr.com
  • Avoid Real Estate Investment Mistakes | Wilmington NC

    Posted Under: General Area in Wilmington, Home Buying in Wilmington, Investment Properties in Wilmington  |  July 10, 2014 12:09 PM  |  69 views  |  No comments
    www.WilmingtonNC-realestate.com


    W
    hat if you knew ahead of time the mistakes you were going to make -- mistakes that would cost you thousands of dollars and untold hours of irreplaceable time? 

    You wouldn't make them, of course. None of us want to squander our money or our lives away on wrong turns that can be avoided. 

    That's the beauty of working with us. We can help you avoid the pitfalls so many other buyers have made because they lacked information and experience. 

    Call us for a consultation at no obligation. Tell us what you're looking for and we'll be happy to bring you up to date on the latest, best-bet properties on the market. We know about some great opportunities you might not have heard about. 

    We look forward to hearing from you! 

    P.S. Right now, we'd like you to have our special FREE report, TIRE-KICKING: Secret Tests To Check A Property's Condition. To read the report, simply click the link. You'll learn how to spot a problems in a property before you enter into a purchase contract. The report is yours with our compliments! 
  • IDENTITY THEFT: Protect your identity and your credit

    Posted Under: General Area in Wilmington, Crime & Safety in Wilmington, Credit Score in Wilmington  |  July 9, 2014 8:53 AM  |  107 views  |  No comments
    www.WilmingtonNC-realestate.com

    As the information super-highway expands, thieves have more and more opportunities to steal your financial identity. The Federal Trade Commission reports that as many as half a million Americans have their identities stolen annually--costing them money and affecting their credit ratings.
    Identity thieves make their money by co-opting your name, Social Security number, credit card number, or other piece of your personal information for their own use. Below are just a few of the ways the identity thieves operate, according to the FTC:
    • They open a new credit card account, using your name, date of birth, and Social Security number. When they use the credit card and don't pay the bills, the delinquent account is reported on your credit report.
    • They call your credit card issuer and, pretending to be you, change the mailing address on your credit card account. Then, your imposter runs up charges on your account. Because your bills are being sent to the new address, you may not immediately realize there's a problem.
    • They establish cellular phone service in your name.
    • They open a bank account in your name and write bad checks on that account.
    Fortunately, there are a number of ways you can protect yourself from identity theft, as follows:
    • Know who you're talking to. Before you reveal any personally identifying information, find out how it will be used and whether it will be shared with others.
    • Pay attention to your billing cycles. Follow up with creditors if your bills don't arrive on time. A missing credit-card bill could mean an identity thief has taken over your credit-card account and changed your billing address to cover his tracks.
    • Guard your mail from theft. Deposit outgoing mail in post-office collection boxes or at your local post office, not in your own mailbox for your carrier to pick up.
    • Put passwords on your credit card, bank and phone accounts. Avoid using easily available information such as your mother's maiden name, your birth date or your phone number.
    • Minimize the identification information and the number of cards you carry to what you'll actually need. Don't carry your social security card-memorize the number and store the card in a secure place.
    • Do not give out personal information on the phone, through the mail or over the Internet unless you have initiated the contact and know who you're dealing with.
    • Keep items with personal information in a safe place. To thwart an identity thief who may pick through your trash to capture your personal information, tear or shred your charge receipts, copies of credit applications, and other financial statements.
    For more tips and information, visit the FTC's website at www.ftc.gov/idtheft.


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