Wilmington NC Real Estate Blog

5 Generations of Home Buyers

When Selling Your Home - Different Generations Are Looking For Different Things

Gen X, Y, Z oh My!

We have 5 generations of buyers in today's Wilmington real estate market. Knowing your property, your neighborhood, and your micro-market is imperative in knowing which generation you are targeting. You must consider who would want to live in your neighborhood, and how to attract that buyer. A Professional REALTOR® will have the tools & data needed for target marketing the 5 Generations of Buyers.

Micro-Market / Macro-Market

The micro-market in Real Estate is simply knowing the competition in your area. The homes like yours, within 1-2 miles and priced close to your home. The Macro-Market is what the larger market driver. For example, the news may report "U.S. Housing up 3.2%" or "In the Carolina Beach" area, the median list price is $325,000" or "Home Values are Rising in Wrightsville Beach!".

This Macro-Market may, or may not mean anything to your market, in fact, it may be the complete opposite where you live. Some of our 5 generations do listen to the Macro-Market information, in fact daily, maybe hourly. The smart-phones they are tethered to may ding them one outlook at 7 am, and then another at 4 pm.

The Micro-Market does have an impact on your home. Knowing the homes close by that would not carry the same market value due to what we refer to as ...

Thanksgiving Proclamation

Proclamation 118—Thanksgiving Day, 1864
October 20, 1864

By the President of the United States of America
A Proclamation

It has pleased Almighty God to prolong our national life another year, defending us with His guardian care against unfriendly designs from abroad and vouchsafing to us in His mercy many and signal victories over the enemy, who is of our own household. It has also pleased our Heavenly Father to favor as well our citizens in their homes as our soldiers in their camps and our sailors on the rivers and seas with unusual health. He has largely augmented our free population by emancipation and by immigration, while He has opened to us new sources of wealth and has crowned the labor of our workingmen in every department of industry with abundant rewards. Moreover, He has been pleased to animate and inspire our minds and hearts with fortitude, courage, and resolution sufficient for the great trial of civil war into which we have been brought by our adherence as a nation to the cause of freedom and humanity, and to afford to us reasonable hopes of an ultimate and happy deliverance from all our dangers and afflictions:

Now, therefore, I, Abraham Lincoln, President of the United States, do hereby appoint and set apart the last Thursday in November next as a day which I desire to be observed by all my fellow-citizens, wherever they may then be, as a day of thanksgiving and praise to Almighty God, the beneficent Creator and Ruler of the Universe. And I do further recommend to my fellow-citizens aforesaid that on that occasion they do reverently humble themselves in the dust and from thence offer up penitent and fervent prayers and supplications to the Great Disposer of Events for a return of the inestimable blessings of peace, union, and harmony throughout the land which it has pleased...

4 Reasons To Price Your Home Right At Listing

Today’s Real Estate Market

Today’s Real Estate Market may be very confusing to a home seller trying to price their own home.  The fluctuation in the market is frustrating to Licensed REALTORS, Appraisers, Loan Originators, and the list goes on.  The importance of pricing your home correctly is crucial in obtaining a viable offer in a reasonable amount of time.  Remember, the home is being listed to sell, not to sit.

Time on The Market

Let’s assume your monthly mortgage payment is $2000.00 per month.  If your over-priced home sits on the market 6, 12, maybe even 18 months, that could be $36,000 in mortgage payments.  

Keeping in mind a very small percentage of the average homeowner’s mortgage payment goes toward principal, typically less than .3% for years.   Keep these numbers in mind if your REALTOR®   does suggest a Listing Price that is 5-6K less than what you had envisioned. 

If your home is priced right, and sells in 1-3 months, that is a huge savings to you in the end.  Do the math, and if you need an amortization table, click HERE.

You Aren’t Getting Any Showings

When you price your home above market value, you must keep in mind that Professional REALTORs®   who are looking in your area for homes to show their Buyers, KNOW the market.  Knowing the market is...

8 Tips to Stage Your Home for a Faster Home Sale

home staging tips

Tips on Staging Your Home

If your home in Wilmingon is on the market, or if you are thinking about listing your home, you want to do whatever you can to help sell it as fast as possible.  Many people hire someone to stage their homes and prepare them for sale, but if you want to save some money you can stage your home yourself with some simple tips.

Remove Anything With Eyes

This is an old home staging tip.  Remove anything in your home that has eyes.  That means personal photos, statues, pics on the fridge...anything.  Items with eyes tend to give the home a sense of personality and ownership.  Simply walk through the home that is for sale, looking for anything that is looking back at you and move it to to storage. 

Instantly Find Out What Your Home is Worth

Make sure that the yard is properly landscaped and clean.

Your yard is the first thing that prospective buyers will see when they come over to have a look. Make sure that the lawn is mowed and the flowers are healthy. Make sure there is no garbage anywhere in site. After they see your lawn the next thing prospective buyers will see is your porch so you will need to make sure that it looks inviting. Make sure that you have a clean and inviting doormat and put some potted plants on there. You should place some nice looking porch furniture there and in the evenings make sure that the porch lights are on.

One of the easiest ways to help...

Figuring Out Financing Your Home

Figuring Out Financing Your Home

Get Your Financing Figured Out Before knowing what homes to consider.

Buying a home in Wilmington can be overwelming.  Especially if you are not familiar with the mortgage process. Whether you are looking to buy a home in Carolina Beach, Rocky Point or Leland, most people will need to secure a mortgage. The "searching for the perfect home is the fun part" . Going through the mortgage process doesnt bring the same joy, but you can get through it by following these tips.

Know What You Can Afford

You need to know how much you can afford, and that comes down to the monthly payment amount. Between loan products and constantly changing lending guidelines, confusing or insufficient online mortgage calculators, variable interest rates and credit score surprises, most buyers are looking in the wrong price range (too high or too low), and every buyer can really benefit from the information and guidance of an exceptional loan officer.

Get Pre Qualified 

Ask your REALTOR® for a referral to a mortgage lending specialist with at least five years’ experience. Based on your...

Why The Wilmington Area is a Great Place to Live

why live in wilmington?

Wilmington NC

Wilmington is located in the coastal southeastern part of North Carolina and has a population of 112,067. Wilmington is one of the south’s biggest vacation destinations- with something to do for everyone in the family:

  • Visit Airlie Gardens
  • Stroll along the pedestrian friendly Riverwalk lined with shops and cafes
  • Hop aboard a water taxi to the famous World War II Battleship, the North Carolina
  • Take a scenic cruise or sightseeing tour
  • Explore the city’s National Register Historic District, which spans 230 plus-blocks filled with churches, classic architecture, moss draped live oaks, brick lined streets and antebellum homes.
  • It’s all here in Wilmington. A beautiful vacation destination but an even better place to call home.

Great Places to Live Around Wilmington

Although Wilmington is the center of the metropolitin area, there are many great places to buy a home or visit - all within a short drive from Wilmington.  Each area has its own unique fee and atmosphere as well as uniqe real estate amenities.  

Below we will cover a few of the most popular areas around Wilmington. 

Pleasure Island

Pleasure Island is one of the close knit communities of Carolina Beach and ...

Zillow in Wilmington NC

Using Zillow in Wilmington NC

Zillow has positioned themselves as the dominant authority in online real estate.  Just because Zillow ranks extremely well for most “real estate Google searches” across the country - does that mean they are the best way to find homes for sale in Wilmington NC?   

  • Does Zillow display all of the active listings in Wilmington?  
  • Are the Zestimates provided by Zillow on Wilmington properties accurate?
  • Should I be using Zillow to find my next home in Wilmington?

Zillow as a Real Estate Destination

To accurately answer the question:

is Zillow the best place to search for Wilmington homes for sale?

...we need to examine exactly what Zillow does and how they get their real estate data.  

Zillow for Real Estate

Many people use Zillow for Wilmington real estate searches because they feel they get MORE information than if they were to use a local brokerage search.  Many home buyers and home sellers are under the impression that if they use a local real estate broker website, they will only see a portion of the active listings in Wilmington.

Many home buyers feel that only a 3rd party real estate site, such as Zillow, can provide all of the listings...

Homeowners Insurance - When You Rent The Home

homeowners insurance - wilmington

Homeowners Insurance May Not Cover You When Renting

A common practice when shopping for a new home for sale is renting out the home you currently live in.  One common misconception is that you can rent out your home without updating your homeowners insurance policy.  Truth is...Your homeowner policy may NOT cover a claim if you (the homeowner) is no longer living in the home!

Real estate can be overwhelming.  For many home buyers, homeowners insurance seems like "just another payment" that needs to be made when purchasing a home.  Many home owners may eventually rent their home and not update their policy.  The reality is - there are many details that are included in your homeowners policy - one of those nuances may be you, as the homeowner, need to be living there.

Looking For More of the Inside Scoop On Buying a Home?  Get The Download!

What is Home Owners Insurance Policy?

A home insurance policy is a formal contract that outlines what an insurance company will pay and under what circumstances it will do so. Normally, a home insurance policy will pay your covered claims when the home is occupied by you as the home owner.

This means that if the contract agreement was made under the terms that you are living on the property, then that is what is required to make a claim against your homeowner’s insurance policy. If the home is found to be unoccupied or vacant at the time of a claim,...

Buddy Blake Real Estate Now Hiring

Become a Top Agent in 12 months! Are you wanting to get into real estate, but worried about paying bills? 

click here to learn more or apply now

Here at the Buddy Blake Team of RE/MAX Essential, we understand that there is no one way to do things. And we have the answer! We have multiple plans from an hourly salesperson employee with twice monthly payroll checks (W2) plus commissions or our traditional full commission model. Gain the confidence that no one else is willing to offer while you start the path to accomplish your dreams! 

Do you have these traits? If so, then we need to talk!

  • Are you an ambitious, self-motivated individual that is looking for a rewarding career in full-time sales?
  • A self-starter who wants to build a career—and not just get a job?
  • Do you enjoy working with different people from all walks of life?
  • Do you have good verbal and written communication skills?
  • Are you willing to work hard and hear some 'no's' in order to find the almighty 'yes'?
...

Monday Coffee from Bald Head Island

As we enter Fall the real estate market is gaining traction after so much storm activity and with most schools back in gear.  The question is:   

Is it a Buyer's Market.. or a Seller's Market?   

The answer is really "It Depends".  It depends on what price range you are in, the condition of your home and the overall demand for homes for sale like yours and in your area.  This is not like in 2006/2007 when pretty much everything was selling.   

I meet with home builders, bankers, insurance company owners and other real estate companies and team leaders on a regular basis and there is a general consensus that many areas are seeing a pull back from the Spring sales velocity but what we are seeing is very serious buyers and sometimes not-so-serious sellers. 

Home Prices

Many sellers are watching the media, listening to exaggerated stories from neighbors and friends and watching their "zestimate" jump all over the place.  The truth is, in my opinion, you have to get a competent REALTOR or Appraiser to inspect your property and do a very thorough analysis of what has sold, what the competition is and what the actual real-time showing activity is.. this is what determines a homes value

Home Values are based upon not what you "need to get", not "what you paid", not "what put into it" and not "what your neighbor said".   

If you seriously NEED TO SELL your home, NOW IS A GREAT TIME, IF...

and that's a big IF, you are prepared to position your home properly in the market with your price, condition and how it shows.  Otherwise,...

Chicago, Markets, Liberty & Freedom

I just wanted to share what a wonderful experience I had in Chicago at a real estate conference that was invitation only and for 25 of the top real estate influencers in the country.  I learned so much of what to do and even things not to do.  It was like a firehose of information and business advice and I am still trying to prioritize everything.

Wow, Chicago is a beautiful place, kinda like New York but newer, cleaner and people are more naturally engaging and talkative, at least to a Southern guy with a bit of an accent.  Thank you to all the fine folks in Chicago that I met, I really appreciate your hospitality. 

Markets are shifting all over the country.  There are a few pockets that seem to be on the upswing but I heard more people talking about how things have already began slowing and how they are preparing for the next shift.  You gotta understand, top agents thrive in downshifting markets because home sellers once again want the best possible agent representing them so they can not only maximize the selling price but more importantly assist in the massive mind field of issues that come up on more and more transactions.  When the market rises lots and lots of people jump in and think its all roses but guess what, when sellers begin to expect marketing, honest feedback, experience during the sales process etc they always go back to the agents who have proven over the long haul their worth.  

On my way home I experienced something in the airport in Charlotte that I will never forget and it reminded me what a wonderful country we live in and how there really is more good in the world than bad.   The bad just seems to have a much louder voice.  Watch the video above as I try to describe what I experienced.  ...

The Importance of Flood Insurance

THE IMPORTANCE OF FLOOD INSURANCE

Fact: There is a 26% chance that you will experience a flood in your lifetime.

Fact: Floods are the nation’s most common and costly natural disaster

Fact: Floods cause millions of dollars in damage every year.

Fact: American’s spend average $8 billion plus on floods and recovery.

Fact: Just one inch of water can cost $25,000+.

Protect Your Home

So what can you do to protect yourself from this? Well, the best thing you can do is to purchase a flood insurance policy for your home. And it is important to know that most homeowner’s insurance and renter’s insurance policies do not cover floods. Don’t assume you’re already protected!

Why Do You Need Flood Insurance?

Why do you need flood insurance? Well, if those facts above don’t scare you, and you’re willing to take and assume the risk of potentially flooding (and if you live in an area where you aren’t required by a lender to purchase flood insurance), then you can take that gamble. And with those odds—it truly is a gamble.

The average price of flood insurance is around $600 per year in the U.S. This, of course, can...

Monday Coffee - Pictures & Flood Insurance

Pictures & Flood Insurance

This week we are talking about getting your pictures NOW before Fall set's in, especially if you are thinking about selling your home in the next several months.  Why wait until the grass is brown and there are no leaves left on the trees?   Homes with gorgeous pictures from the Summer will certainly show better than one's with snow on the ground or Christmas lights still up Wink.  

If you are planning to sell your home this Fall or over the Winter NOW is the time to get those photographs, videos and drone shots.  If you would like us to help you get this going CLICK HERE... don't wait, pictures and videos sell homes!   Also, if you would like to review my marketing guide and home selling tips cick here.

Also, after seeing the horrible damage and how many homes in Texas and Florida have been flooded I just wanted to remind everyone that even if you don't live on the coast you really should consider having od insurance.  So many things can happen such as storm water backups, water damn breaks, ponds overflowing and even a neighbors swimming pools, that can cause "rising water", which is not typically covered under normal home owners insurance.  If you live in a federally designated high-risk flood zone your mortgage company likely forces you to carry flood insurance, but even if you don't live in a "high-risk" zone you should consider getting a flood policy as its an inexpensive add-on for one of the most valuable assets most people...

Real Estate Near Wilmington NC


real estate near wilmington NC

Real Estate Near Wilmington 

Wilmington NC real estate sales are continuing to see strong growth throughout the city and outskirts. In fact, the cities near Wilmington is currently seeing a huge boom in real estate sales and investments. This is due to the economy growing at a steady pace, which has resulted in more money flowing into the greater Wilmington area.

From luxury homes to waterfront - beachfront properties, real-estate sales in Wilmington NC and the surrounding areas are on fire. In fact, many investors from all over North Carolina and the nation are purchasing prime properties inland and near the water. 

MOST RECENT REAL ESTATE MARKET STATISTICS FOR WILMINGTON

 

...

Monday Coffee - Sept 5th, 2017

Happy Tuesday to everyone who is able to view this BLOG.  While it was one of the most beautiful weekends of the year in our Wilmington NC area we could not help but to keep our friends in Texas who are dealing with unimaginable situations from hurricane Harvey in our hearts and prayers.  Thank God we live in the most wonderful country in the world as the outpouring of support and help seems to never fail to surprise me, even with the incredible divides our people have with and against each other.  

As I write the blog and produce this week's video we are watching perhaps one of the strongest hurricanes in US history approach the Islands and then the mainland US East coast.  As of this BLOG post the models are showing Irma to head near or into the tip of Florida, but it just always seems to hit North of where they say early on so we are watching this very carefully.  I pray the storm would do the unlikely and head out to sea or maybe simply dissipate.  I have lived in Wilmington NC my entire life and been through my share of hurricanes and I would never wish one on anyone, but of course none of us want it to hit our area.  Again, we all have friends and family that live in areas that are already dealing with damages from Harvey and now Irma may land another blow.  We will get through it as long as we-all stick together in mind, body and Faith. 

As I turn my conversation to ...

Buddy Blake Team Now Hiring

Potentially earn up to $100,000+ Annually

The Wilmington, NC market is rapidly expanding! Our team has more leads than we can handle (and our current team literally can't keep up)!

We are a technology-driven real estate team with an aggressive internet lead generation system. 

Here's what we provide:

  1. LEADS—lots of leads
  2. First-class marketing materials and sales support
  3. Extensive back-office / transaction support / CRM
  4. A proven training program
  5. A respected, highly reputable team of motivated (and highly paid) agents
Responsibilities
  • Consult with clients in order to discover their property desires; then find properties that meet those needs.
  • Participate in open houses, networking activities and MLS to enhance your sales.
  • Consistently network and market to prospect for new customers.
  • Guide 30 to 50 buyer clients through the home purchase process each year.
  • "Always be consulting" by providing your clients with your very best service and your very best advice.
  • Establish a prosperous and long-term real estate career by supporting and learning from other team-oriented agents.
  • Conduct weekend open houses to network with potential home buyers and sellers.
Qualifications
  • ...

MLS Tricks For Pricing Your Home

Tricks for Pricing Your Home


As a homeowner, you cannot afford to lose money on the sale of your Wilmington home simply because you did not take the time to price your home according to its true value.  Under-pricing will leave you full of regret – and overpricing will leave you with a home that has not sold.  Home pricing is a balancing act, because you need to take into consideration not only the true value of the home, but also the local market conditions.

Price It Right!

Some simple techniques can help you determine the best listing price for your Wilmington home. These are many of the same things that REALTORS look for when suggesting possible listing prices, but a wise homeowner will walk into a meeting with a REALTOR already armed with ideal selling prices, rather than letting the listing agent set a price that may or may not maximize the financial return and get the home sold as quickly as possible.

Here Are a Few Key Points to Keep in Mind When Pricing Your Home

  • The price that you paid for your home in Wilmington has little impact on the actual value of your home today.  This is particularly true if you have lived in your home for several years or more.

  • The profit that you hope to gain from the sale of your home has absolutely no impact on the true value of you home.

  • You must remove emotion when determining a fair selling price for your home.  To potential buyers, your memories are not worth a price increase.

  • Your REALTOR'S assessment of the home’s value may or may not be accurate.

  • A real-estate appraisal is a good way to determine the ballpark...

People Deserve Real Conversations

I have been serving home buyers, home sellers, home builders and investors with Wilmington real estate since I sold our Wilmington area video and electronic stores back in 1998.  One of the reasons I got into real estate was a not pleasant experience I had with an agent who no longer works in our market.  This person was difficult to reach, avoided talking to me about challenges and simply did not earn or deserve the money I was going to be paying if my "spec" new home I built ever actually sold.

Fast Forward To Today

Now, let's fast forward almost twenty years and see how things have changed with all of this technology and instant communication.  Here in 2017 I find myself as a co-owner of RE/MAX Essential, wich around one-hundred professional real estate agents, which is now one of the top three real estate companies in our area after only six years of opening our doors.  We chose the RE/MAX brand as it is the number one consumer real estate brand in the world and the RE/MAX arsenal of tools for agents to help their clients achieve their goals is second to none.  

To personally provide for my family I have a small real estate team of eight agents and we sell around 300 homes per year in the Wilmington NC market, which is not a large market as compared to many in the country.  But, we have a steady flow of lovely people moving to our beautiful area for the beaches, low taxes, diversity and Southern hospitality.  In order for us to serve so many of our customers and friends I am constantly, to many of my teammates frustrations, designing and developing better ways to leverage technology to provide the very latest information, trend analysis, mortgage rate detectors and...

Buddy's Monday Coffee & Solar Eclipse

What an exciting opportunity to spend with my wife and three daughters to see such an amazing life-time event, weather permitting that is, and furthmore experience visible evidence, in my humble opinion, of the very existence of God.  Of course it's everyone's, in most freedom loving countries, perogative to make our own choice as to what we believe and to be compassionate and caring to all people no matter how differing our beliefs might be.  One thing is for sure, no matter what someone believes, we should certainly love and respect each other.  There is evil in this world and it must never become okay for it to be okay.

I came across a couple of really neat websites to learn more about how things will go tomorrow, again weather permitting.  Here is a nicely put together video by the Weather Channel that really shows a nice timeline of what to expect and what to look and listen for.  And then here is a website that allows you to enter your zipcode and see the times of all the occurences as well as how much totality you might expect.  Here where I live in the Middle Sound area it says we should have about 96%.  Try it, it's pretty neat.

...

WATCH OUT FOR THIS SCAM

WATCH OUT FOR THIS SCAM


Crooks are targeting real estate agents and companies with a scam aimed at indeviduals buying a home in Wilmington. North Carolina consumers have reported losing tens of thousands of dollars in this type of fraud.

The scammers hack into real estate agents’ email accounts and harvest information about deals that are in the making. When they see that a closing date has been set for a sale they contact the prospective buyers by email, pretending to be the real estate agent. In the email, they explain that a last minute change has been made and the buyer’s closing costs need to be wired to a different account than the one stated previously.

In some cases the hackers learn of the upcoming transaction by accessing the buyer’s email account or other means, but the result is the same: huge financial losses for the would-be buyer, and a fat payday for the crook. The Federal Trade Commission has issued a warning about this scam.

  • Never send account information by email – it isn’t secure.
  • Use a secure connection when entering financial information online. The URL (online address) should begin with “https.” That “s” means you are using a secure connection.
  • Before moving ahead with a transaction, verify information about the closing in person, or on the phone. Don’t rely on faxed or emailed information.


If you’ve been hit by this or any other type of scam, report it to North Carolina Attorney General Josh Stein’s Consumer Protection Division at 877-5-NO-SCAM or file a complaint online....

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