Wilmington NC Real Estate & more!

Finally a serious positive sign for the real estate market

2009-01-26T14:27:00.002-05:00

For those waiting for some positive signs and news about the real estate market, the surprising positive market numbers from December are worth paying attention to. One month of positive numbers doesn't indicate a trend but it was far better than a decline. This at a time that seasonally is a slow time in our industry. We can tell you, there are alot of great homes on the market, interest rates are still very low, and sellers are willing to negotiate. These things plus signs that we are heading towards normalizing could be the formula for a reason to climb down off of the fence. Stay tuned for more articles and information on market indicators.

This video is from this morning on MSNBC. It references an article released today from the National Association of Realtors that I linked to below.

Visit msnbc.com for Breaking News, World News, and News about the Economy

A Good Time to Buy:
NAR President Charles McMillan said it’s an excellent time for first-time home buyers with good jobs.

“The typical buyer plans to stay in their home for 10 years, which is the correct approach in today’s market,” he said. “With historically low mortgage interest rates, flexible sellers, a large inventory, and homes that are selling for less than replacement construction costs in much of the country, buyers who’ve been on the fence should take a closer look at today’s market.”

McMillan added that first-time buyers may want to consider an FHA loan, which offers downpayments of 3.5 percent on a safe 30-year fixed-rate mortgage.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 5.29 percent in December from 6.09 percent in November; the rate was 6.10 percent in December 2007. Last week, Freddie Mac reported the 30-year rate was 5.12 percent. Source: NAR

Here is a link to the entire article from the National Association of REALTORS

Call us today if there is something we can do to help. You can begin a search for homes in the Wilmington market by clicking on the MLS search link on the right side of this page. Call Eric directly for Commercial listings.

Eric and Rhonda Rei
"Your Best Move"
910-232-8721

First Time Home Buyers

2008-12-30T22:21:00.033-05:00

In the blink of an eye, weeks passed by without posting. The holidays (spent 2 whole weeks baking!), year end tasks, and planning for 2009 have consumed most of our time but we have also seen a slight but consistent up tick in interest of our listings. We attribute it to the fact that there are some really good deals on the market right now and buyers are out there looking. Aside from the inventory, interest rates are still very good. There are additional incentives for new home buyers as well. I am including a link that has some great information on this tax credit. As always, we are just a phone call or email away from more detailed help!
Facts on $7500 First Time Home Buyers Tax Credit
Here's to a happy, healthy, and prosperous 2009!

How easy is this?

2008-11-30T20:14:00.007-05:00

Here's to hoping you had a fantastic Thanksgiving! Ours was filled with family, friends, and plenty of reasons to reflect on how grateful we are! It is definitely time to get back to business as there seems to be a slight upswing in activity. So as we were planning out our week and looking back on the many conversations that started with, "So, how is the real estate market?" over the weekend, we thought we would write a blog that focused on how simple technology has made it to begin a search for real estate.

Have you ever wondered how easy it would be to find the perfect home or an investment property? The Internet is a terrific place to start. It can give you a general snapshot of what is out there for sale. A REALTOR can be your expert source for providing you many more details on the neighborhood schools or answer questions like proximity to shopping, health clubs, medical facilities, etc. Click on the link below to begin a search for Wilmington NC property for sale. The link actually includes areas in New Hanover, Brunswick, and Pender counties.
Wilmington MLS search Simply fill in the information you are interested in the search fields and the homes that meet that criteria will show up. As with any search, the more information you provide, the smaller the results list will be. Now here is where we come in. Give us a call if you have any questions on any of these properties. Together we can narrow down to the perfect home or investment property!

If you are thinking about relocating to our area, we can put you in touch with a REALTOR in your area. We are members of the Cartus Network with thousands of qualified agents all over the world!

A little Thanksgiving humor

2008-11-26T19:27:00.004-05:00

I thought we could all use a little bit of humor before the holiday. Eric and I have seen a pick up in activity over the last couple of days. In fact, we feel like the bottom dropped out of the proverbial real estate cloud. It couldn't be better news and we hope it is not temporary! Hopefully, this flurry of activity will reach many of you and positively affect your business and industry as well.

We hope you have a safe and happy Thanksgiving holiday and weekend!

Being a REALTOR®

2008-11-24T10:39:00.007-05:00

Eric and I have a seller that lost their pet over the weekend. We have had an unusual cold snap for this time of year and the thought of this little poodle spending the night outside was heartbreaking. Several agents from our company got together to scour the neighborhood for "Houdini". Yes that is his real name. The dog was picked up on the side of the road and spent the night at a very kind stranger's house. The next morning, they had the insight to drive to the closest neighborhoods to look for "lost dog" posters. The story has a happy ending and Houdini was returned to our clients who, of course, were ecstatic to have their pet back!

The weekend's events reminded me of how thankful I am to work along side such a caring group of agents. Century 21 Sweyer & Associates has always fostered a real family environment. So Eric and I took a minute to reflect on what our colleagues and this business means to us. The real estate business, while down from the hay day of 2004, has been very good to us. It has provided us a way to do what we love in helping people with one of the most important life decisions while making a living. Of course we are always grateful but especially this time of year, we are reminded of how lucky we are to be able to play to our strengths everyday at work. So thank you to the people we work with, the owners of our company, and especially our clients that make the success of being REALTORS® a reality! We love what we do and the feeling it gives you when you are dedicated to something that rewards you ten fold everday!

SELLING YOUR HOME IN THE WINTER

2008-11-20T22:05:00.004-05:00

Selling your home during the winter months can be a challenge. Dreary, cold weather and the end-of-the-year holidays can keep buyers away and heighten fears of your home staying on the market longer than expected. Wilmington NC has an average winter temprature of 60 degee highs and 38 degree lows. Not a bad winter which is one of the perks that makes our area so appealing!
However, there are a few things you can do to enhance “curb appeal.” And when that happens, buyers will take notice.

For example, if your home has been on the market for more than six months, its probably time to change the sales approach. There are several factors that could be reviewed with your real estate agent to determine improvements that can be made. Ask for a reassessment of the sales price; it may be too high for the current market. Also, ask the agent for a new or updated marketing plan and ask for a specific explanation of each activity. Marketing your home goes beyond a few ads in the newspaper and a listing on the Multiple Listing Service (MLS); a good agent will do more to get your home sold.

Once you’ve settled on an asking price, its time to spruce up the interior and exterior of your home. Many real estate agents recommend opening as many curtains as possible to add light and color to rooms. Also, it’s suggested that you keep spring and summer pictures of your home out on tables and in clear view. Photos of your front yard flowers or the backyard shade tree in full summer bloom can help swing many buyers in favor of a purchase.
Staying on top of winter maintenance and chores is another sure-fire way of adding value to your home. Make sure the heating source is in good working condition and that the room temperature is kept at a comfortable level.

Take yourself on a tour of your home. Start at the front door and work you way through the house. More than likely you’ll see many previously undiscovered cluttered spaces and needed repairs that can turn off potential buyers.

Don’t overload your home with holiday decorations, either. The buyer should have a chance to see your home in its everyday condition.