Wilmington Real Estate

Lights, Camera, Action!

When you list your house in the Wilmington real estate market, sellers should be aware of some things they can do to improve their chances of having some other family love your Wilmington home as much as you do.  Understanding the way buyers think involves seeing things not from your perspective but from your potential buyer’s mindset.  With the significant amount of real estate for sale in the Wilmington NC area, sellers can help create optimal circumstances in a number of ways.

It starts with a feeling.  When you meet someone for the first time, you form a first impression based on a feeling.  That’s exactly what happens when buyers set foot into your home.  Working with an experienced realtor, such as myself, I can make suggestions to help prepare your home for the positive first impression.  In the real estate world, this is what is known as staging.  Sellers may want to “get back to the basics”.  For example, sellers of a home may love their turquoise carpet; but do you really think buyers will?  Getting inside the buyers mind will help you answer these questions.  It is the sellers goal to help buyers see how your home listed in the Wilmington real estate area can become their dream home.

Overall, most people are visual buyers.  If the home doesn’t look clean, spotless, and repaired then the buyer wonders what’s behind the walls and how much money would they have to put into the home.  It would be in the seller’s best interest to repair anything that look torn, worn or broken.

These are just some of the tips and suggestions I would provide to you if you were to list your home for sale with me, Gary.  I am an experienced realtor who can make suggestions in the staging of your home to attract potential buyers.  I look forward to listing your house and helping you get it ready for “Lights, Camera, Action!”.  Please call me directly at (910) 620.8838 so we can start today!

How Wilmington Real Estate Benefits You!

A combination of the wide range of homes in Wilmington’s real estate market and the $8,000 tax credit to homebuyers make this a favorable time to invest.  If these two reasons are not enough to spark your interest in finding the perfect place to call home, here are some more reasons why you should own your own home:

• Tax Breaks - The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.
• Appreciation - Real estate has long-term, stable growth in value.  While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5% each year from 1972 through 2005, and increased 88.5 percent over the last 10 years (National Association of Realtors).
• Equity - Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

These are just a few more of the benefits you can take advantage of when purchasing a home in the Wilmington real estate market.  I look forward to helping you through the real estate process as you find the perfect home to call your own.  Please call me, Gary, a call at (910) 620.8838 to start your exciting home buying experience.

Testimonials 7/17

Testimonial received 7/17… Gary was very professional and attentive to even the smallest details. Through creative negotiations, I was able to get the property I wanted at a price I was happy with. Best realtor experience I have ever had and I’ve bought and sold 6 properties in the last 13 years.

L. Smith

Topsail Beach, Wrightsville Beach, Carolina Beach, & Kure Beach…

A large selection of Wilmington homes are for sale in these beach communities.  The Los Angeles Time (7/10/09) reported that mortgage rates dropped this week.  Interest on 30-year fixed mortgages, 15-year fixed loans, five-year adjustable-rate mortgages, and one-year ARMs all fell this week, according to Freddie Mac.

• The average on 30-year financing slipped to 5.2 percent from 5.32 percent a week ago.
• The 15-year mortgage declined to 4.69 percent, down from 4.77 percent.
• Five-year ARMs were down to 4.82 percent from 4.88 percent.
• One-year ARMs fell to 4.82 percent from 4.94 percent.

What do all these numbers and percents mean?  How can the $8,000 tax buyer credit help you?  As an experienced Wilmington real esate agent, I am able to help home buyers interpret information so that informed decisions can be made.  Please call me, Gary, at (910) 620.8838 so we can get you into your deam home on the beach.  I look forward to working with you. 

Reasons why it is important to work with a Realtor, whether you are buying or selling

The Wilmington Real Estate market offers a wide selection of homes for purchase; however, finding that “perfect” place to call home can be an overwhelming task, especially if an individual is trying to navigate this process without assistance from a realtor.  Working with a realtor has many benefits which include:

1.  Understanding the paperwork involved. Whether you are a first time homebuyer or someone who been a homeowner before, I can help you prepare the best deal, avoid delays and costly mistakes.

2.  Provide information and opinions. I reside, raise my family and work in the Wilmington area; therefore, I can provide information on utilities, zoning, schools, and more.  Another one of my services as a realtor is to provide objective information about each property.  I want to be able to help you answer two important questions:  Will the property provide the environment you want for a home?  Will the property have resale value when you are ready to sell?

3.  Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market.  I can complete a thorough investigation to find all available properties in the Wilmington real estate area that best meet your needs.

4.  Negotiating skills. There are many factors that require negotiation in real estate transactions.  Factors, including but not limited to:  price, financing, terms, date of possession, and inclusion or exclusion of repairs.  I can help you understand these factors and advise you so that you can make informed decisions.

5.  Marketing, Marketing, Marketing. A large share of Wilmington real estate sales come as the result of my contacts through previous clients, referrals, friends, and family.  In addition, because I work closely with individuals who are looking to purchase a home, I am better able to match perspective buyers with homeowners looking to sell.

6.  Someone who speaks the language. Every profession has its own acronyms, including Wilmington real estate.  If you don’t know a CMA from a PUD, don’t worry.  I can translate these acronyms and help you understand what they mean.

7.  Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase.  Even if you have bought and sold homes before, laws and regulations change.  As a Wilmington real estate broker, I handle these transactions on a daily basis and can provide you with the necessary information.

8.  Objective voice. A home is more than four walls and a roof.  A home symbolizes family, rest and security.  Homebuying and selling can be an emotional undertaking and for most people, a home is the biggest purchase they will ever make.  I want to help make your home buying experience in the Wilmington real estate area enjoyable.  Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you and your family.

I look forward to helping you navigate through the Wilmington real estate experience.  Please call me direct (910-620-8838) so I can help you and your family get into the home of your dreams.

Wilmington NC 2009 Real Estate Report

Today in Wilmington Real Estate, I wanted to discuss real estate reports for our local area. One of the first questions I usually receive when conversations turn towards real estate always becomes, “So how is the market doing these days?” Actually that question is much tougher than it sounds, if you want a thoughtful answer.

Real Estate will always be a local thing. Just because the national statistics show one thing, Wilmington Real Estate will always follow a different path. We are a destination area where people want to be. Unlike other areas where a career has brought you to town, but you may not have wanted to be there otherwise. Wilmington, Hampstead, and Brunswick County are chosen buy buyers because they are more often than not, making a lifestyle change.

With all that being said, market conditions are always changing and they vary by the price range, area of town, etc… They are all also heavily influenced by current interest rates and seasonal changes through the year.

If you would like to receive a real estate report that is specific to your area of interest, feel free to contact me at any time. Price range and the area of town (possibly by zip code) would be a great area to begin with. I can usually return the results to you by email within 24hrs of receipt.

Thanks for stopping by and I look forward to hearing from you.

Getting to your Next Home is a 2 Step Process

Today in Wilmington Real Estate and Wilmington Homes for Sale, I would like to talk about the topic of Getting to your Next Home.

When most people put their home up for sale, they tend to think about how much money they will put in their pocket at closing. It is a rare Seller who thinks ahead to the “second” closing of the home where they will live next.

With interest rate starting to rise and prices unstable, it makes sense to sell now and buy your next home before rates rise again. Sounds simple, but most Sellers are reluctant to lower their price because they think they are leaving money on the table. They are probably not. Their property is only worth what a buyer is willing to pay, not all of the other reasons that are floating around in the heads of most sellers.

If you are buying within the same market area such as here in Wilmington, Hampstead, or Leland, chances are the pricing is a wash since the conditions affecting you as a seller will still be there when you are a buyer. For instance, if you had to negotiate down to sell your current property, you will probably be able to negotiate a similar result for yourself as a Buyer. If you wait for the price to rise on your current house, you can count on the price of your next house to rise just as much.

In this market, it makes sense to get at the front of the line in terms of pricing your current property so when it sells you can then become a power buyer with a loan approval letter from your lender.

Call me when you have any questions involving real estate in the Wilmington, Leland and Hampstead, NC area. My direct number is 910-620-8838.

$8000 Tax Credit Update in Wilmington Real Estate

Today we have a new update in the popular tax credit program that will make purchasing a home even more possible than ever before. FHA will now permit lenders to provide a short-term bridge loan allowing home buyers to use the tax credit to make a larger downpayment, cover closing costs, or even buy down their interest rate.

What this means for you is in the past, the tax credit was great but still wasn’t what today’s first time home buyers needed the most. Todays buyers in Wilmington Real Estate need help at the closing table. This new amendment provides support to get people in the door.

This program is overdue and will have a huge impact to todays buyers. Wilmington Real Estate and Wilmington Homes for Sale will benefit greatly. When one home goes under contract a chain reaction starts allowing sellers to become buyers in other areas of Wilmington.

If you have more questions about this recent update, feel free to contact me at anytime at 910.620.8838.

USDA Loan Update for Wilmington Real Estate

Today in Wilmington Real Estate I wanted to update all of my clients on the very latest in rates for USDA programs. I also have list the current rates for other loan programs suitable to all parts of Wilmington Real Estate.

June 29th 2009

Based on 30 day locks and most with 1% origination

USDA 30 year fixed 5.0%
Conventional 30 year fixed 5.0%
FHA /VA 30 year fixed 5.0%

Feel free to contact me for a list of my preferred lenders. My direct number is 910.620.8838. Thank you again for reading Wilmington Real Estate.

$8000 Tax Credit for Wilmington Real Estate

This week in Wilmington Real Estate I would like to spotlight the tax credit of up to $8,000 now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009. The program defines a first time home buyer as someone who has not owned a pricipal residence in the last 3 years. A principle residence means a property where you lived the majority of the year in.

Unlike the tax credit enacted in 2008, the new credit doesn’t get repaid to the government. However, a critical part of this program is the ending date which will be here before you know it… December 1st. When you look at the timing of a 30 day closing period, a home search process taking atleast 30 days, before you know it the deadline has arrived.

Contact me today on my direct line at 910.620.8838 to learn about beginning your search now. I am always available to answer all of your questions about this wonderful program. Purchasing Wilmington Real Estate has never been more affordable.