Wilmington NC Real Estate Blog

Market Housing Stats as of May 15 2017

Wilmington Area Market Stats May 8 2017

See Buckets Blake April This Weekend

See BUCKETS BLAKE this weekend courtesy of BUDDY BLAKE!! The Harlem Globe Trotters are in town this Saturday at UNCW's Trask Auditorium. LIKE our page and SHARE it to be entered into a drawing to win TWO tickets to see Bucket Blake and his team!

 

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I'm so glad I found you

"My friend, Aaron "Marty" Martinson, wrote those words in a note to me. On the pages that follow, you will discover that he didn't find me.  I found him.  And, thanks to Marty, I remember a few things about life that I hadn't really thought about for a long time.  

For years I had grand visions of writing a book about a leader who changed the course of history.  I filled my personal library with biographies of presidents and statesmen.  I wanted to understand what made their lives great - and what might be missing from mine.

In looking for answers I turned to books written by people who are "successful" in business and industry.  For a while I searched for excellence, then I compared my habits to those of highly effective people.  More recently, I tried to figure out which mouse I was in the pursuit of the cheese.  Like millions of people, I thought success equaled happiness.  

The book I've written, though, is about a simple man who ran a cash register.  He worked hard and was good to people.  That, in turn, made him happy.

Can it be so simple? so free of complications?  Marty thought so.  He showed me how to be a better person, not one wealthier or more successful or more powerful.

He changed my life-forever."

Introduction of "The Richest Man In Town" by V.J. Smith

This book is no longer available from Amazon, unless you find it used.  You can find some at the authors website and I highly recommend you getting it. If you live in the Wilmington area and would like to borrow the book I have some I will...

Are You Really Ready To Sell?

Dinner conversation centers around homes of all issues and predicaments for Buddy and I. From the new listings coming on board to anxious client closings pushed off. We dine over all the in between – lack of showings, heartless feedback on many showings, delivering due diligence news regarding repairs, contracts coming in and contracts falling apart.

I felt an urge of divine proportions and posed the idea to my realtor.  “Let’s put the house up for sale.  “Really? You’re sure?”   Of course I was sure. I know it ALL. This is our world!

Marriage to a REALTOR© has advantages.  A pet peeve of any real estate broker (at least mine) is an unkempt home. (Let me clarify unkempt: lawn overgrown, faulty air conditioning units, paint peeling, floor boards cracked. NOT: the hot mess of children and animals in the living areas.) We’d breeze through due diligence after having our choice of the many buyers. 

Sign, lockbox, let’s go. Sure, I can pack the dogs in the car with me for the showings we will endure. Easy peasy…

Buddy scheduled pictures to be taken by a professional company, measurements and floor plan to be sketched and we cleaned! Our garbage cans were overflowing!  A shredding truck along with drop off after drop off to Habitat for Humanity enabled a pathway for buyers to walk through when in garage and storage area.  

Practice for a showing, I straightened and gathered everyone to head out while Buddy met with the photographer. Hours later we returned home, quarantined to our playroom as they finished “shooting” upstairs. I never spend too much time in the playroom if I don’t have to, could stand to be organized a bit. Also, the idea of keeping the dogs in the car during showings needed to be revamped. I felt like their dog stench was in my hair. One of them wouldn’t give up the effort of digging out through the floor...

Monday Morning Coffee - March 6 2017

"Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it."   - Steve Jobs

Watch Steve Jobs infamous Stanford commencement speech which has been viewed over 26 Million times on youtube.

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How To Live In Your Listed Home

Many sellers end up living in their homes, even after they're listed. Here’s some tips to help you live in your home between showings and open houses.

Start packing now. Get a head start. To reduce clutter in your home, the key is to get rid of excess items. Store, sell, chuck, or donate these items. Buyers appreciate the extra space during showings. It makes rooms appear bigger.

Clean. A clean house can net $5,000 to $10,000 extra in the final transaction. Aim for five-star hotel perfection.

Maintain your privacy and safety. During open houses and showings, people can easily sneak to closets, drawers, and cabinets. Your agent should encourage other agents to accompany prospective buyers while touring your home! Protect your valuables.

If you’re interested in buying or selling your home, give me a call at (910) 395-1000 or complete the form below.

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How To Avoid Stress When Selling Your Home

The home selling process can be stressful, but it doesn't have to be. Today, we want to share a few tips to help you not only survive it, but thrive during it!

  • Start packing up things you don't use right away. As soon as you know you're selling, you need to start collecting things that you don't use very often and getting them ready for the road.
  • Next, you need to completely declutter your home. Find stuff you no longer want or need and get it out of the house! You might be surprised by how much stuff you own that no longer serves any purpose in your life! 
  • Make sure you clean your home as best you can before and during the selling process. You want it to look like a five-star hotel. We've seen squeaky-clean homes go for as much as $5,000-$10,000 more!

  • Maintain your privacy and security when selling. If you want to avoid some frustrating situations, make sure you work with an agent with high standards for showing the home and avoid leaving highly valuable items lying around.
  • Finally, to make the selling process a breeze, get the kids involved!  Make the moving process fun for the whole family by encouraging the kids to help in the moving effort.

We want the process to be as easy as possible for you. Give us a call if you need our assistance. We would love to help you!

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Leave No Money On The Table

I'm not going to lie. Selling your home for top dollar will take some work. The good news is that it's worth it, because you can sell your home for more money by using these six tips.

  • Curb appeal matters. You have to entice the buyers with a nice exterior for them to want to know more about the interior. Plant flowers, mow the lawn, repaint your front door, clean your windows, etc
  • Declutter and depersonalize your home. Get rid of personal belongings such as old photos or artwork, and make sure the buyer isn't distracted by other things like clutter on your counter tops. Show off your home and not your belongings. Rent a portable storage unit if you need to - you're moving anyway. Depersonalize the home as well. You don't want a buyer to feel as if they're inside of someone else's home. You want them to feel like they're walking through their own home, so don't clutter the place with your belongings. Not many buyers want to see that giant moose head on your wall. Remove any excess decor that makes your home feel smaller.
  • Fix things and freshen up your home. Repaint rooms in a neutral color, such as earth tones. Also, fix all of the obvious things around your home such as a squeaky door or a leaky faucet. If you notice it, the buyer definitely will, too.
  • Don't get too emotionally involved.  That is when you can make mistakes. Remember that the home really isn't yours anymore when you're trying to sell it.
  • Don't get greedy.  Buyers aren't fooled by high prices, and they simply won't respond to high prices. Your home will sit on the market and you'll end up with less money than if you had priced your home right to begin with.  All the marketing in the world will not sell an overpriced home....

Secrets To A Successful Home Sale

If you're selling, you need to do everything in your power to make your home stand out. To help you, we want to share a few tips to make buyers fall in love with your home. Here are some things to keep in mind before you place your home on the market:

  • The first impression is everything. The first impression doesn't happen when the buyer opens the front door - it's what happens when the buyer first sees a photo of your home online and when they come to the front door. Park your car on the street and come to your home the way a buyer would. Does your front porch look neat and clean? Is the door freshly painted and finished? Do you have potted plants and other welcoming features? These little things will make a huge difference in the end.

  • Declutter the interior of the home. The way that you currently live in your house is not the way you want to show it. Give your home a deep clean and make it look fantastic before potential buyers arrive.

  • Keep the home looking light and bright. If you open up the front door, even after doing steps one and two, if your home looks dark and unwelcoming, you're not going to have much luck winning a potential buyer over. Turn on every light in your home and open every possible window to make your home breath and feel like a place someone would want to live.

There are quite a few details in these three steps, but if you are able to do all these things before putting your home on the market, you will have greatly increased your chances of having a successful home sale. If you have any questions about this topic, or if you would like real estate assistance of any kind, please don't hesitate to reach out to us. We would love to hear from you!

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How Absorption Rates Effect You

Today, we're going to talk about absorption rates and real estate. What is the absorption rate, and why is it important?

Absorption is simply the number of months inventory on the market right now, and how long it will take to sell those particular properties if no new homes come on the market.

Nowadays, sellers are inundated with a lot of real estate data from around the nation. In the Wilmington area, the median price is up dramatically from 2010. However, it's important to dig a little deeper and look at the data surrounding your neighborhood in order to really know what's going on.

That's where the absorption rate comes in. We look at recent sales, homes currently under contract as well as properties that have failed to sell. We look at data over a two-year time period because the past helps us project what will happen in the future.  Lastly, we look at actualy real-time showing reports to see what agents are actually showing active buyers right now, afterall this is the tip of the spear of what's really going on in the market.  We can see exactly which way your neighborhood is trending. Once we've examined everything, we will come up with a price for your listing.

CLICK HERE to see the latest online absorption reports, if you would like a full printable one pleaes contact me below.

If you have any questions, give us a call at (910) 395-1000...

Emotional vs Logical House Decisions

I’m often reminded of the enormous significance emotion plays in the process of buying and selling homes.  In fact, real estate marketing, sales and activity places constant emphasis on igniting an emotional response in purchasers, while at the same time keeping sellers grounded in logic and reality.  Warmth, smell, color, presentation, street-appeal are just some of the emotional elements that are involved with the sales process.

We’re taught our words, videos and photographs should “sell the sizzle, not the sausage”, and I’m always a fan of highlighting benefits for consumers rather than listing off a bullet points of "features" that are common to most any house.

Sure, that property may have four bedrooms and two bathrooms, but nowadays most properties do, so encouraging a hot-button response takes more than a brief set of bullet points.  

I’ve also found an emotional purchase doesn’t have to make sense to anyone but the purchaser – and sometimes it really doesn’t seem to make sense to anyone else!  I've seen families buy things that are completely different to what they "said they wanted", actually this happens more times than not.

Logic, unfortunately, gets thrown out the window with buyers and sellers and the personal "need to win" competitive emotion keeps people from buying or selling every single day.  So many times I want to say to a buyer or seller "do you want to buy/sell your home... or learn a lesson?"

So it’s fair to say emotion will always play a part in the world of real estate, but the other big player that REALTORS and/or other advocates should create realistic expectations on is the LOGIC of the situation to get their client to...

Caught Between Two People

Many of us live our lives caught between two people – the YOU that everyone sees and the YOU who makes an appearance only when no one else is looking. The opposite of integrity isn’t a person without character, but someone who is double-minded in what they say and do. Our compartmentalized lives lead to fragmented souls. The constant battling back and forth with our body double not only does damage to our heart, it lessens the impact we can have on those around us. The strongest currency we possess to influence others is our integrity. Trust is the bond that holds our relationships together. We all want integrity, but it requires us to fight for it, not just for ourselves, but for those we care about the most. We invite you to join us for #DoubleSeries where we’ll learn what it looks like to fight for the real you.

Addtional Notes Link

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Coming Soon - 2094 Willow Creek

2094 Willow Creek

The Willows of Leland NC 28451

Lovely four bedroom home on corner lot with sidewalks, double garage, fenced and irrigated yards and within steps from the community Swimming Pool and Tennis.  
Priced at $205,000

For more information contact Buddy Blake
at (910) 395-1000 or email buddy@buddyblake.com


OTHER HOMES FOR SALE IN THE WILLOWS

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Can We Pray Back In Time?

Can we pray back in time?

We can disagree on many issues of Civil Rights. However, looking beyond the issues, to those sitting at the table we find agreement in Martin Luther King being a peaceful man. He was a brother, a fine husband and a good father. He was a man of God, who spoke frequently and boldly of His word.

Stepping back to the days he served, imagine the fear his wife, Coretta was surely gripped with every time Dr. King walked out the doorway of their home. Think about the anxiety Dr. King and his wife wrestled as they attempted to lay their heads down at night to sleep. Sleep? Prayers for safety from wickedness that hovered so close. Protection over their home, over their children. Did they have the high-tech alarm systems back then? With the “glass break” sensor?  

Horrific attacks aimed specifically at Martin Luther King and his young family. Attacks meant to hurt, meant to bleed and meant to kill.

Perhaps Psalm 91 rang through their hearts:   

You shall not be afraid of the terror by night,
Nor the arrows that flies by day,
Nor of the pestilence that walks in darkness,
Nor of the destruction that lays waste at noonday.

Dr. King and Coretta had four children. The oldest being 18 at the time of his assassination and the youngest a mere 5 years old. His children lived through his “passion.” So did his wife.  

For sure you will hear at least one quote today or a part of a speech. We cannot argue, his words reached the lowly, oppressed and down trodden in spirit. Obvious words of unity and peace and love. He spoke words of God sending a ripple effect of change.

A daily life, for sure, riddled with fear of violence marked for himself and aimed at his loved ones. Take the bitterness from your heart today, stemming from recent...

Monday Morning Coffee Jan 2nd

Things to Think About

“Harboring unforgiveness is like taking a drink of poison and hoping it will kill somebody else.”

Not being willing to forgive will keep you in bondage to your past and to the people involved in your ifactor bookprevious pain; it will form an invisible bond that connects you to that situation and all its negativity.  No matter who was involved in the tragic or unfortunate things that have happened in your past or what their specific roles were, the only way to set yourself free from them is to forgive them. You’ll be amazed at the freedom, strength, and new perspectives on life that will come to you when you do.
Who You Are Is Much More Important than What Happened to You
Excerpt From: Moody, Van. “The I Factor.” Thomas Nelson, 2016-10-01. 
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Monday Morning Coffee December 26 2016

This Week's Coffee Thoughts

The spirit of Christmas is the spirit of love and of generosity and of goodness. It illuminates the picture window of the soul, and we look out upon the world's busy life and become more interested in people than in things.

~Thomas S. Monson

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Monday Morning Coffee | December 5 2016

Monday Morning Coffee

"A loving mother once saved her little girl from a burning house, but suffered severe burns on her hands and arms. When the girl grew up, not knowing how her mother’s arms became so seared, she was ashamed of the scarred, gnarled hands and always insisted that her mother wear long gloves to cover up that ugliness.

But one day the daughter asked her mother how her hands became so scarred. For the first time the mother told her the story of how she had saved her life with those hands. The daughter wept tears of gratitude and said, “Oh Mother, those are beautiful hands, the most beautiful in the world. Don’t ever hide them again."

Excerpt From: Graham, Billy. “Unto the Hills: A Daily Devotional.

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Wilmington Real Market Report

Let's Take a Look...

at the real estate market. Currently there are 518 sales pending in the market overall, leaving 1100 listings still for sale. The resulting pending ratio is 32.0% (518 divided by 1,618).  So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!

The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract.  Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.

"Current inventory is described as mildly active."

Taking a closer look, we notice that the $200K - $300K price range has a relatively large number of contracts pending sale.

We also notice that the $200K - $300K price range has a relatively large inventory of properties for sale at 261 listings. The median list price (or asking price) for all properties in this market is $334,261.

A total of 1898 contracts have closed in the last 6 months with a median sold price of $242,000. Breaking it down, we notice that the $100K - $200K price range contains the highest number of sold listings.

Alternatively, a total of 687 listings have failed to sell in that same period of time. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. The $200K - $300K price range has the highest number of off-market listings at 160 properties.

CLICK HERE to...

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