Real Estate Information

1. Siding replacement: UPSCALE PROJECT

• cost: $13, 461
• resale value: 10, 493
• % of cost reoccupied: 78%

2. Entry door replacement: MID-RANGE PROJECT

• cost: $1, 238
• resale value: 903
• % of cost reoccupied: 73%

3. Attic bedroom addition: MID-RANGE PROJECT

• cost: $50, 148
• resale value: 36, 346
• % of cost reoccupied: 72.5%

4. Kitchen (minor remodel): MID-RANGE PROJECT

• cost: $19, 588
• resale value: 14, 120
• % of cost reoccupied: 72.1%

5. Garage door replacement: MID-RANGE PROJECT

• cost: $1, 512
• resale value: 1, 087
• % of cost reoccupied: 71.9%

6. Garage door replacement: UPSCALE PROJECT

• cost: $2, 994
• resale value: 2, 129
• % of cost reoccupied: 71.1%

Welcome home! This well maintained home sits on a quiet cul-de-sac beside a pond & wooded area. The oversized patio is great for summer cookouts. The spacious great room is wired for wall mount TV & surround sound so perfect for entertaining guests or enjoy sitting by the fire on a chilly night. There is a formal dining room as well as a breakfast nook. The kitchen features newer appliances and plenty of working space for the chef in the family while overlooking the tranquility of the pond. The laundry room is a great area off the kitchen with extra pantry space. The master suite is also wired for a wall mount flat screen & has a large walk in closet. The master bath has a garden tub, separate shower and double vanity. A new home security system is complete with smoke detectors for added protection. Over the 2 car garage there is tons of floored attic space! Storage is not a problem. Courtney Pines is located just minutes to Mayfaire, Wrightsville Beach & Ogden Park. Move right in!

Fabulous opportunity to be in Odgen school district and just minutes to Mayfaire & area marinas. With formal living room, dining room, family room, 4 bedrooms plus a bonus room space is abundant. This home features many recent updatesnew bamboo hardwood floors everywhere including the bedrooms, new tile in the bathrooms, half bath & hall bath newly renovated, new light fixtures to name a few. The master suite features a luxurious bath complete with Jacuzzi, separate shower & dual vanity. The pool was recently converted to salt water for virtually no maintenance so more time to spend having fun. The crawl space was recently encapsulated so lower energy bills. Freshly painted and a home warranty make this house move in ready.

Here’s what they had to say as some of the best ways to get the “sold” sign out: 

1. Pay attention to “curb appeal”: First impressions are critical, and homes with inviting landscapes and exteriors tend to sell better, agents say. Pay attention that the driveway is in good condition, lawn well-kept, and the house looks freshly painted.  
2. Set the right price: Real Estate professionals know how to set the price and prepare a home for sale. Agents use comparable sales of homes sold in the last 60 days to help set the most realistic price for the sales price of a home. By setting a realistic price from the beginning, sellers should be reminded that this will prevent having to drop the price of the home several times before getting it sold and having it linger on the market. If no recent comps are available, some experts recommended sellers get an appraisal, which will also offer a realistic price that the bank may be willing to take when a buyer tries to qualify for financing the home.
3. Talk about energy efficiency: Many buyers don’t fully understand “green” homes but they understand savings. Sellers should point out any features in their homes — such as energy-efficient windows or appliances — that could save buyers money with utility costs. 
4. Give the home Web appeal: Good photographs make a home stand-out online and help lure more potential buyers to the front door. Realtor.com says that more than 6,300 photos are viewed per minute on listings posted at its site.
5. Make it move-in ready: Fix any needed repairs, such as water stains, creaky doors, and windows that don’t shut. Flaws in the home — even if relatively minor — can distract buyers, and should be fixed before the home is even listed. Some agents recommend that sellers get a home inspection prior to putting the home up for sale, which can help sellers be proactive in identifying any potential problems that could potentially derail a sale later on. Once a problem is uncovered, sellers are obligated to disclose it or fix it.

For more information please follow the link listed below:

http://realtormag.realtor.org/daily-news/2012/04/25/5-ways-sell-home-faster-for-more-money

Fabulous home with Southern Charm located in Palmetto Pointe a waterfront community. Enjoy your rocking chair front porch with views of Hewlett's Creek. Enjoy the neighborhood gazebo overlooking the creek & wildlife. The open floor plan which is great for entertaining. The gourmet kitchen is set up for convenience and will please any chef. The downstairs master suite allows for added privacy with lots of light and a luxurious master bath. The laundry room is spacious with tons of cabinet & counter space. Upstairs is a loft area which would be perfect for bonus room, office space, etc. There are 3 guest rooms on the 2nd floor 2 of which have access to the upstairs covered porch with a view of the creek. A walk in attic space could easily be finished for an exercise room, media room or additional bonus space. A home warranty & termite bond are included. To enjoy the lifestyle of living by the water a kayak is included. The detached oversize garage could house a boat if so desired.

For more info please follow the link below:

http://www.dsnews.com/articles/expert-expect-to-see-broad-improvements-home-prices-rise-in-2013-2012-03-28

An improving economy is contributing to a gradual rebound in home prices across the country, according to mortgage giant Freddie Mac’s 2012 Economic Outlook report, released Wednesday. But there is still a way to go in the road to recovery for the housing market, the report noted. 

In fact, the signs have prompted Freddie Mac to revise its forecast upwards for home sales and originations. One economic contributor that’s helping to stabilize housing: The drop in the unemployment rate to 8.3 percent, its lowest level in three years, according to the report. 

Median home sale prices are up, despite a slight drop in new and existing home sales, Freddie Mac reports. About a half of the increase in housing starts has been for construction of rental apartments in multi-unit buildings to meet the increasing demand, the report notes. New rental construction, at its current pace, is expected to reach its highest level since 2005. 

If you or someone you know is struggling to pay your mortgage, there is help available:

NC Housing Finance Agency is a great source if you are struggling to pay your mortgage due to a job loss or temporary financial hardship, they have the

• NC Foreclosure Prevention Fund:   This fund can provide an interest free loan of up to $36,000 to pay your mortgage and other related expenses for up to 36 months while you search or retrain for employment.  If you are currently employed but have a second mortgage that is unaffordable because of a prior job loss or reduced income, the Fund offers an interest-free loan of up to $30,000 to pay off your second mortgage.  The fund provides assistance at no cost to you.  This is a great resource if you are facing trying times like this.  Learn how the process works and you may also call toll free at 888-623-8631.
• State home Foreclosure Prevention Project:    This fund helps homeowners facing foreclosure for any reason.  It offers free housing counseling, access to legal services for people with lower incomes, and help with your mortgage servicer.

Did you know that…

• There are income limits for NC Housing’s MCC Tax Credit for first time homebuyers?  Find the updated income limits by clicking here.
• Use NC Housing’s $8000 down payment assistance for properties where FHA or conventional financing is needed because the property is not USDA eligible.  Click here for DAP income limits.
• NC Housing Finance Agency’s sales price maximum is $225,000 on new construction and existing housing
• An MCC Tax credit for first time buyers not only gives a potential tax credit each year but also decreases a borrower’s debt ratio for qualifying?  Read more
• If a buyer is looking for 100% financing for a USDA loan but the property needs up to $10,000 of improvements required by the appraiser to meet HUD standards, we can finance those improvements in the loan with an ESCROW HOLDBACK.  For example:  If a buyer is looking to purchase a home that is in good condition but needs a new HVAC unit for $4000 b/c it was stolen, he/she can purchase the home with a USDA loan financing 100% of the price, closing costs, prepaid items, and the $4000 for the hvac.  The seller and all costs are all paid at closing and the contractor is paid after completion of the work from escrow.  Great solution to today’s foreclosure and vacant property problems.
• A non-occupying co-borrower may be added to an FHA or conventional purchase or refinance to help the primary borrower qualify?  Read more
• A retired borrower can use a new distribution of income from a retirement account as qualifying income for a mortgage as long as the income from the asset should continue for at least 3 years?  Read more
• The term “first time homebuyer” does not mean it is the first time ever purchasing a home?  Read more
• Having VA entitlement does not guarantee that one will be able to get a VA home loan?  Read more
• On USDA loans there is no limit to how much the seller can pay towards the buyer’s costs and prepaid items at closing and the buyer can pay down revolving balances to qualify as well.
• USDA loans can close in 30 days with us?  Our underwriting turnaround is currently 48 hours
• PMI on USDA mortgages is very low which keeps the payment down and the buyer can afford a higher price compared to pricing an FHA loan
• A buyer does not have to be a first time buyer to qualify for a USDA loan? 
• The loan limit is $417,000 for USDA?  Most think of USDA loans as only smaller loans but it actually will go up to the conforming loan limit of $417,000.
• A debt to income ratio can exceed 50% on FHA mortgages?  With compensating factors a buyer can close with a higher ratio
• That USDA is not just for low income buyers?  A family of 5 purchasing in Brunswick County can make up to $97,750 per year and qualify under the income requirements.  A family of 4 can make up to $74,750 per year and some counties such are higher.  If a household is a little over these limits, there are ways to decrease their income so that they qualify such as $480 credit for each child and deduct for verifiable childcare expenses.
• A buyer can qualify with no credit scores?  If someone truly has no credit reporting (no bad credit especially), we can use nontraditional credit sources to approve the buyer with no money down.  We would need to verify the last 12 months rental history and 3 other credit references that are paid on time for at least 12 months such as utilities, cell phone, insurances, small store accounts, memberships paid monthly, etc
• USDA, FHA, VA, and conventional loans can be used to pay off a construction loan?  USDA loans can be used to pay off a construction loan for a primary residence.

As demand increases, rents continue to rise, increasing 5 percent over the past 12 months. Meanwhile, the asking prices for homes fell 0.7 percent in that time, according to a new report released Thursday by Trulia Inc. 

Nationally, the median rent was $1,350 a month in March — up from $1,285 a year ago, according to Trulia. 

Rents have risen the most the last year in markets such as Sarasota, Fla. (12.9 percent); Miami (12.1 percent), San Francisco (11.1 percent), Middlesex County, Mass. (10.6 percent), and Edison, N.J. (10.5 percent), according to Trulia.

Ultra-low interest rates have helped the average American to save more than $3,000 a year.

Interest payments on mortgages have contributed to some of the largest savings. USA Today reports that mortgage interest payments have fallen 30 percent since peaking in 2007. 

Indeed, interest payments have fallen drastically on debt. Interest payments averaged $469 per month at the end of last year compared to the $728 per month peak in 2007.

For more info please follow the link below:

http://realtormag.realtor.org/daily-news/2012/03/27/low-interest-rates-help-americans-save-money