Why live in Gated Communities

.Driving down a lush and grassy street, passing by many familiar faces that wave happily at you, pulling into your driveway and being greeted by your dog-what’s not to love about that?

More and more families have been recently flocking to gated communities. The promise of safety, comfort, and close-knit neighborhoods are the main appeal for most, and not without reason. Because of the similar pricing and looks of housing within the confines of each gated communities, families tend to find neighbors with similar values, politics, economic stances, and tastes. Families may be more inclined to move to a location as such for that reason, as it guarantees close proximity to people that are most like them. Kids will have an easier time finding others in their age-group, and will also most likely attend the same schools together.

Most gated societies offer luxurious benefits, such as ponds, lakes, bike and running trails, pools, golf courses, tennis courts, basketball courts, parks, and clubhouses. It is the modern day throwback to homely communities of decades past, with an emphasis on families and “it takes a village to raise a child” mentality. The secluded aspect of these communities makes heavy and racing traffic less of a concern, and ensures a quieter and safer location for children to play, wonder, and roam.

Additionally, these communities are able to decide together when they want their trash picked up, snow plowed (snow we don’t get snow in Wilmington), security increased, streets cleaned, etc. They usually hold monthly board meetings which help to include most of it’s inhabitants and help keep them satisfied.

Security is a rising concern for many families, and the majority of gated communities have a good amount of security guards and neighborhood watches in place to ensure a certain quality of living. Because these communities are private, it is extremely difficult and rare for them to be penetrated by outsiders. Likewise, door-to-door salesmen and other solicitors will have an especially hard time trying to come through, which is another bonus for families who live within their gates.

The types of locations vary based on taste, budget, and geographical place. Some of these communities are on waterfronts, while others can be found nestled in the mountains. More expensive ones sport large housing units with plenty of land, while other more affordable options are simply a concentrated neighborhood of modest ramblers and split-level homes.

The uniformed code that these communities enforce oftentimes result in high and increasing value of the homes within. More and more families are seeking a traditional look which strays from the gaudiness of recently built homes, and are willing to pay more for a humble, albeit tasteful home in a gated community.

 

Posted By Nilesh Jethwa Wilmington, NC Real Estate  Nilesh Jethwa is a local real estate agent in Wilmington, NC. To contact Nilesh Jethwa please click here! Here are a few gated neighborhoods in the Wilmington area Landfall and Waterford of the Carolinas……….

Buying a home in Landfall, Wilmington NC

Buying a home in Landfall Community, NC Wilmington

As a Wilmington native and a local REALTOR. Landfall has always found itself to be Luxious place to live.  Landfall is one of the only private country clubs on the North Carolina coast. Begun in 1985, the member-owned club offers two clubhouses with 45 golf holes designed by Pete Dye and Jack Nicklaus, a tennis court and sports complex designed by tennis great Cliff Drysdale, two member lounges, cafe and an Olympic size swimming pool. Bordering the Atlantic Intracoastal Waterway and Howe Creek with over 2,000 homes on a 2200 acre tract. The Country Club of Landfall is located within the gated community is considered the heart of Landfall. Landfall premier golf community offers buyer and sellers unique opportunities. Therefore the different property values ranging from a low of around $400,000 to above $6,000,000.  There is something for almost anyone.

Community Amenities 

The Nicklaus Course 

 

The Nicklaus Course designed by Legend Jack Nicklaus.  Jack Nicklaus is regarded to as the world leading golf course design firm. With the philosophy of working golf course design clients, enhancing the natural environment, and creating golf courses that are challenging and enjoyable for player of all levels. The Nicklaus course is dividing into 3 nine-hole courses named for their unique terrains that allow for a wide variety of play.  The three holes consist of The Ocean Course, Marsh Course, and The Pine Course.

Both the Ocean Course and Marsh Course offer views of the Intracoastal Waterway, Atlantic Ocean, and the Breath taking view of Howe’s Creek. The Pines Course was added in 2001 by Nicklaus, incorporating blend of natural surroundings and latest challenges.

The Dye Course 

Pete Dye considered to be one of the most influential golf course architects of the last 5 decades. Pete Dye course, Landfalls most original 18 hole golf course, was completed in 1987. Dye Course accommodates a wide variety of golfers with varying levels of ability. With the following basic elements of the Dye Team, such as tee placement, wide fairways, greens, and hole placing have provided Landfall members professional golfing experience.

The Sports Complex 

Love Tennis!!! Well it a pretty big deal here, with 14 tennis courts, multiple-surface tennis faculty that is home to largest USTA playing section in the state. The newly renovated 1600 sq. ft. Sport Complex designed by tennis hall of famer Cliff Drysdale is a one stop shop for wellness state-of-the-art fitness center provides free weights, cardio equipment, yoga classes, Pilate’s, core conditioning are few classes taught by the fully trained and certified personal trainers. Don’t forget after the long hours spent working out, your muscles might just need a little refreshing. Landfall’s Sports Complex also provides a spa room run by a licensed therapist, Olympic size swimming pool, two member lounges, and Café.

Landfall Social Groups 

Wine Club

Bridge

Lunch Brunch

Golf

Tennis

The Frank H. Kenan Chapel 

Located in the Landfall Community. The Chapel is used for religious activates such as weddings, memorial services, recitals, bible study, etc… The Chapel does not hold regular services. Weddings

Can be held for the cost of $70.00 (01/09).

Security 

 

Landfall is a controlled-access gated community, 24 hours a day, 7 days a week. The enhanced presence of a gated community adds a level of comfort for the residence. Security staff responds to assist with 911 calls, check on homes while homeowners are traveling, ect……

Posted by Nilesh Jethwa Wilmington, NC Real Estate News  To Contact Nilesh Jethwa  click here!

The top reasons why your home as not sold Wilmington, NC

Mortgage interest rates are near a record low and people are buying homes every day. So, why is it that some home sell right away while others sit on the market for months and  months.?
 
1. Overpricing. The number-one reason a house or condominium does not sell is because it is over-priced. If you listed your home with the real estate agent who recommended the highest list price, they probably “bought” the listing. Now, they may be reluctant to admit that your home is over-priced.
 
Do you wonder why you’re not getting any offers? Today’s savvy home buyers will either not look at over-priced properties, or when they do, they make offers that are much lower than the market value. Home buyers are very smart and they often know more about home values than real estate agents. If your home has been on the market for more than 30 days, it’s time to review a new market analysis to check the list price against other active listings and recent sales. Then, adjust your price accordingly.
 
2. Condition of the home. The second major reason homes do not sell is their physical condition. Few home buyers want to purchase fixer-uppers. Most want a home to be in near-perfect, “model home” condition. Does your home need a fresh coat of paint or new carpeting? Is your yard and landscaping appealing? Are the windows sparkling? Is the garage clean? Have you put off making needed repairs? Take time to put your home into tip-top condition, so that all a buyer has to do is turn the key in the front door and move in.

3. Bad location. No matter how appealing a home might be, if it’s in a bad location it will not sell, or it will sell for substantially less than comparable homes in good locations. Negative location factors include bad schools, busy roads, high crime areas, poorly maintained neighboring homes, lack of public transportation, poor shopping, power lines and poor parks. The only way to compensate for a bad location is to reduce the price.
 
4. The listing agent. Few sellers realize that their listing agent could be the reason their home does not sell. Some agents are known among their colleagues as “difficult agents.” The result is that other agents do not want to show the listings of those agents unless there is nothing else to show prospective buyers. Sellers may never know that their listing agent is not liked by other agents and is hurting the home sale. Experienced, cooperative, friendly, enthusiastic and accessible listing agents are a major asset to their clients.
 
5. Poor marketing plan. Some real estate agents get the listing agreement signed, put it into the MLS and sit back to wait for other agents to bring a buyer. That’s not enough to sell a home. The best agents have a written marketing plan and they follow it to be sure the property sells.
 
Although the MLS is a powerful sales tool, other resources are essential. The best agents have Internet sites to market their listings. They also arrange broker tours, advertise each listing regularly, send out “just listed” announcements and actively network their listings with other agents. Contact Nilesh Jethwa for his marketing plans.
 
6. Difficult to show. A common saying in real estate is “If you can’t show it, you can’t sell it.” The more a home is shown, the faster it sells. And, usually the quicker the sale, the higher the selling price. The message is clear, make your home easy to show by installing a lock box. If a lock box is not feasible, ask your real estate agent to set up a procedure that will make it easy to show your home.
 
SUMMARY:  The key reasons some homes do not sell, even when the real estate market is doing very well, can be overcome with savvy marketing. Real estate agents like to show listings that are priced right, in good condition and easy to show. If your home is not selling, talk with your agent to find out why. Have your agent ask other agents who have shown your home what they think of it. For example, a modest price reduction might be all your home needs to convert it from “for sale” to “sold.”

 Posted Nilesh Jethwa Wilmington, NC

Nilesh Jethwa is a local real estate agent in Wilmington, NC. To contact Nilesh Jethwa please click here!

Negotiating Tips For Sellers, Wilmington NC

Negotiation is an important tool of the real estate business. To be a successful home seller you should have a basic understanding of negotiation methods, knowing the motivation of the other party and adapting to their style. You can strengthen your position as a home seller, by following these four negotiation tips.
 
1. Get your home into top condition. If your home is on the market with obvious defects such as paint, repairs, cleanup, carpets and landscaping, you can be certain prospective buyers will either not look at it, or if they do and they make an offer, it will be low.
 
Examine your home carefully. If you spot anything that a buyer can criticize, your negotiating position will be weakened. For example, if your home has peeling paint, you can be sure buyers will lower their offer by much more than a paint job would actually cost you. To negotiate from a strong position, always get your house painted inside and out before putting it on the market. See Nilesh Jethwa’s  
home staging program for more information on preparing your home for sale.
 
2. Know the market value of your home. After getting your home in the best possible condition, improve your negotiating position by determining the true market value of your home. One way is to hire a professional appraiser to evaluate your home and provide an expert opinion of the market value. The cost will be several hundred dollars for a complete appraisal, depending on the size of your home and the difficulty of appraising it. Choose an appraiser who is properly licensed and is experienced in your area.
 
Another way to determine the market value of your home is to interview several real estate agents about listing it for sale. As part of their listing presentation, each agent will prepare a written “comparative market analysis.” This report will show the recent sales prices of similar nearby homes as well as the list prices of other homes currently on the market. By comparing the reports submitted by the agents, and by checking out the comparables they use, you’ll be able to determine the market value of your home. Be sure to throw out any inflated price opinion given to you by an agent who is trying to “buy” the listing.
 
3. Relax and be patient. Another way of stating this rule is, “The one who cares the least, wins.” For example, if you must sell your home quickly because of a job transfer or to avoid a pending foreclosure, buyers will take advantage of your vulnerable situation. Give yourself plenty of time by putting your home on the market early. Sellers who get the top prices for their residences are those who have their homes in excellent condition and who do not have to sell it by a deadline.
 
They can afford the “I don’t care” attitude, so they only have to sell if they get the price and terms they really want. A good real estate agent will support you when you take this position even if it takes a little longer to sell your.

 

Posted by Nilesh Jethwa Wilmington, NC Real Estate

Nilesh Jethwa is a local real estate agent in Wilmington, NC. If you would like to contact Nilesh Jethwa or receive his free monthly market reports please click here!

Wilmington, NC 15,000 Tax Credit Update

Last evening the United States Senate unanimously passed a bipartisan amendment, offered by REALTOR® Champions, Senators Johnny Isakson (R-GA) and Joe Lieberman (ID-CT) to the Economic Stimulus Bill creating a $15,000 tax credit to individuals who purchase a home in the next year. 

Specifically, the Isakson-Lieberman amendment to the pending economic stimulus bill would provide a direct tax credit to any homebuyer who purchases any home. The amount of the tax credit would be $15,000 or 10 percent of the purchase price, whichever is less. Purchases must be made within one year of the legislation’s enactment, and the tax credit would not have to be repaid.  The amendment would allow taxpayers to claim the credit on their 2008 income tax return. It also seeks to prevent misuse by only allowing purchases of a principle residence and by recapturing the credit if the home is sold within two years of purchase. The amendment would sunset the current $7,500 housing tax credit on the date of enactment. 

While the final details of the Stimulus Bill are still being debated, this amendment represents a tremendous step forward in NAR’s efforts to stabilize housing markets around the nation.  Because of the efforts of REALTORS®, we expect the final Economic Stimulus Bill will contain several major housing provisions.  We will continue to update you as the bill progresses through the legislative process.  *This is not formally approved, but yet a significant improvement 

Posted by Nilesh Jethwa Wilmington, NC Real Estate

 

Nilesh Jethwa is a Local REALTOR in Wilmington and the Leland area. To contact Nilesh Jethwa please Click Here!

Wilmington, NC 2009 Real Estate Summary

Coming into 2009, there is a lot of promise for this year to be better than 2008. With a new administration in the White House and the Federal Reserve and Treasury department spending hundreds of billions, we have a lot of action moving our economy forward.  Congress has offered assistance to the Auto Industry, Obama has a strong economic stimulus plan, and mortgage rates are at an all time low. With the potential recovery of the credit markets and the amount of housing inventory available, this makes the spring of 2009 a very desirable time to purchase real estate.

Our median sales price for 2008 ($215,000) reflects a small downturn of 6.7% from 2007($230,000) and maintains the same median as 2006 ($215,000). In 2008, we continue to see a small market correction in average sales price; we decreased 6.8% from year end 2007. Just two zip codes had average decreases of 9.6% and 15.7% while three zip codes managed slight decreases of 1.2% to 1.9%. A total of three zip codes had an increase in concessions offered to buyers on the sales price; concessions are now offered in 14% to 25% of the transactions in 2008.

Our market has experienced a decline of 30% in number of homes sold in 2008 compared to 2007. All five zip codes experienced a decline from 20% to 43%. Our list to sales price ratio for 2008 is 95.4% a slight decrease from 96.7% for 2007. Sellers in 28412 got about 96.5% of their asking price while those in 28403 only got 92.7% of their asking price. 2009 can be a good market for our area with an inventory of homes available and interest rates low, this would make a great time to buy.

This is all the more reason for consumers to call a REALTORS now to help them prepare for this opportunity.  REALTORS® have the knowledge, tools, and experience to help buyers and sellers make good, sound decisions with our local market and get the best deal for their clients. Their guidance now more than ever will be critical to the improvement of the real estate market and to making consumers feel confident in purchasing a home. Call your REALTOR® today or visit www.Nileshjethwa.com for more information on using a REALTOR® or to begin searching for homes. You may also obtain current real estate news, and much more.

 Posted by Nilesh Jethwa

Nilesh Jethwa is a Local Real Estate Agent in Wilmington, NC to contact Nilesh please click here! Don’t forget to ask about his Client Appreciation Program.

Market Overview Wilmington,NC February

For over the years Nilesh Jethwa has provided professional real estate services to this community and has established a tradition of excellence. In keeping with this tradition, personal service and dedication are Nilesh Jethwa’s hallmarks. Whether you are buying or selling your home, I have the resources and the expertise to provide you the excellent service you deserve. I will continually strive to provide you with excellent service because, in my business, the most profound assets I posses are your respect an trust.

All information herein has not been verified and is not guaranteed. ©2009 Multiple Listing Service of the Wilmington Regional Association of REALTORS, Inc.

By Nilesh Jethwa

Posted By Nilesh Jethwa
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Your Credit Score, Wilmington Buyers

Managing your credit score

Part 2

As a real estate agent in Wilmington, NC I have help a number of buyers whether they have been first-time home-buyers, investors, and relocators find their perfect house. My goal working with buyers and sellers is keeping them informed on current market conditions, and helping them achieve there goals. Currently I’m working with a great couple looking to purchase their first home in Wilmington, NC.  During my first initially appointment I discussed with them the home buying process. I make it a point that we collectively come up with a home buying plan, I have found this to be a get tool. It has not only saved my clients time, but also money. During my appointment we went over how the qualification process works and how their Credit rating plays a factor in their purchase amount. Needless to say I realized that their rating was not as positive as I hoped for.  I understood that we needed to take this from a different perspective, not to look at this as an obstacle but an opportunity. I knew it was a great time to start improving it and helping them get started. Here are a few things we discussed.

A credit score is a number that lenders us to help them decide, “if I give this person a loan or credit card, how likely is it that I’II be paid back on time?” Also called a risk score, this number is a statistical measure of the risk that you’ll be able to repay the debt as agreed.

If you are planning on making a major purchase, taking out a loan or applying for a credit card, you’re going to need a good credit rating.

Managing Your Credit ScoreFind out where you stand.

The First step towards developing a better credit score is to determine where it currently stands. Start by checking with the major credit reporting agencies (CRA) listed below. You’re entitled to one free report per agency, per year, and you have the rights to dispute any mistakes, so request that each CRA send you a copy of your report.

Equifax                  www.equifax.com

Experian                www.experian.com

Figure out the Facts 

Credit reports in hand; take a good hard look at the data in front of you. Credit reports are rarely as spotless as you think- that one late payment on your Visa can stay on your report for up to seven years (long after you’ve forgotten about it). In addition, in October of 2004, CBS News reported that nearly 80% of credit reports contain at least one error, proving how vital it is to make sure that everything is accurate.

After identifying any discrepancies, you need to eliminate them. A dispute form usually is sent along with your credit report or you can request one from the CRA’s website so fill out the form and send it back to the CRA as registered mail. Make sure you document each step that you take in clearing up your report in case you need a backup later on. Fortunately, the law is on your side, stating that any item that is not verified as accurate must be removed from your report.

Call in the clean-up crew.

You’ve cleared up any errors, but there are still a few legitimate dark spots on your report. What’s a person to do now?

Clean up- Identify any depts. That are still pending, and setup a plan for eliminating them (discussed in my previous blog click here). Clearing up debt can take time, which makes it even more important to get started immediately. Remember that you have the right to add remarks to your file, so take the opportunity to defend yourself and point out positive areas of your reports, such as highlighting a loan that you paid on schedule.

Fix, rinse, and repeat

Time is your best ally when it comes to your credit report- consistent payments (no matter how small, so long as the meet the minimum) prove that you are responsible enough to repay loans as promised. Over time they will outweigh the negative points on your credit report.

Get regular- In order to avoid any ugly surprises, check your credit information regularly, especially 60 to 90 days before a major purchase (like for a car or home.)

Prove reliability- While there are not quick fixes for upping your score, taking out a loan that you don’t need and then paying it back in a short span of time can prove that you’re a good credit risk.

Too few or too many- The ideal position is to have a few lines of credit, never more than what you could afford to pay off on your income, and with none of them maxed out. Cancel old cards that you never use, but don’t max out one giant line of credit by putting your entire debt on it. Prove your self-control by having between two and four lines of credit with a minimal or no balance on each.

By Nilesh Jethwa

Posted By Nilesh Jethwa

Nilesh Jethwa is a local REALTOR in Wilmington, NC.

To Contact Nilesh Jethwa please Click Here! 

To read part 1 of my blog series Clearing Your Debt click here……

Clearing your debt…..

Millions of Americans set a goal for and succeed in paying off their credit card debt each year- is this one of your goals? With a little determination and a plan, you can take control of your credit and improve your credit score in the process. Here’s how: but please watch this video……Just to add some humor

Cut the Cards
The First step toward reducing your credit card debt is to stop adding to it. While you don’t have to literally shred your cards, you do need to stop using them routinely. Try one (or all) of the tips below to break this habit:

Carry Cash- Give yourself a weekly cash allowance for expenditures. You’ll be more aware of how much you actually, spend; plus once you run out of money, you’re more apt to stop spending.

Use debit, not credit- For times when only plastic will do, use your debit card instead of a credit card.
Out of sight, out of mind- Keep your credit cards at home and you’ll be likely to use them.

Think strategically- Decide on two to four credit cards with which you have a lengthy, positive history, and close any other accounts. Having a few good accounts will boost you credit score, but having too many will hurt it.

Lower Rate/Cut a Deal
Once you’ve got your spending under control, focus on reducing your interest rate.

Negotiate rates- Call up your credit card issuers and ask for a better rate. Explain that you plan to transfer the balances to another card unless your rate is lowered. Usually, borrowers with good credit scores can cut their rate by a few points- sometimes as much as 10%.

Transfer Balances- To a different card. Look for offers with low introductory rates that are good for at least a full year, with relatively low rates thereafter. Read the fine prints and pass up offers from cards with hidden fees or cost.

Shop around- Do a little investigative work to find the best card offers. Use the internet to research and locate current offers.

Reduce Your Dept
Now it’s time to start chipping away at those balances. Develop a strategy and make it happen, using the following tips:

Sort it out- Make a list of each credit card you have, its existing balance, minimum payment and interest rate. Use either of the online calculators listed here to help you determine which card to pay off first.
Quicken: Http://www.quicken.com/planing/dept/

Develop a plan- Pay as much as you can on your card with the highest interest rate, while paying the minimum on the other cards. This additional payment on the high-rate card will help to pay off the principal faster.

Build debt snowball- Once you highest interest rate card is paid off take the same amount you’ve been paying on that card and add it to the minimum payment on the card with the next highest interest rate (this is commonly referred to as “snowballing” or a debt-reduction rollover of your payments). Continue to pay the minimum on the remaining accounts, repeating the process until you’re dept-free.

Having a back-up- Keep one low-interest card put away for emergencies but maintain a zero monthly balance at all times by paying it off when due.

Think Ahead
Now that you’re dept free, start thinking even further ahead:

Invest- Begin to invest the same amount of money you’ve been applying to dept every month. You’ve trained yourself to live on less by paying as much as possible toward your debt each month, now take that philosophy and use it to your advantage, reinforcing that thrift must continue in order to develop a mindset of abundance.

Visualize- Spending a few moments each day imagining what it will feel like to be debt-free, paying cash for every purchase and look forward to a comfortable retirement.

Please join me next week on How to Manage Your Credit Score or just click here!

By: Nilesh Jethwa
Posted By Nilesh Jethwa
Source Buffini and Company

Nilesh Jethwa is a local real estate agent in Wilmington, NC. If you would like to contact Nilesh Jethwa click here!!

National Home Sale’s 2009 Outlook

The Environment

After falling for two years in a row, sales of existing homes are expected to edge up 6% in 2009 to 5.3 million. Even with an increase in unemployment, improved affordability is the reason. NAR’s affordability index jumped to 131 at the end of 2008, up 17 percent from 112 in 2007. It’s expected to hover around a still-high 128 in 2009. The index means households earning the national median income have 131 percent of the income needed to buy the national median-priced house.Meanwhile, new-homes sales, already off more that 50 percent from their peak of 1 million in the third quarter of 2006, are expected to continue dropping, to about 413,000 in 2009.Prices have dropped nationally about 12 percent from their peak in 2006, from a national median of $221,900 to $198,600. In some of the markets that were hottest during the boom, prices have dropped even more, as much as 30 percent in Los Angeles and 24 percent in Las Vegas. The drop has made life tough for seller with little equity in their homes. Some 40 percent of sales in the third quarter of 2008 were distressed sales, either short sales or forecloses, and according to NAR data. For 2009, prices are expected to turn a corner.

Outlook: Sales on the Rise

Existing- Homes                             2007                **2008                 **2009 

Sales (in millions)                            5.7                        5.0                         5.3

   

Prices                                        218,900            198,600                 200,800

Price Changes                             -1.4%                 -9.3%                      1.1% 

New Homes                                  2007                2008*                  2009**

Sales                                           775,000            487,000               413,000  

Prices                                          247,200            228,200              231,400 

Price Changes                            0.3%                  -7.7%                    1.4% 

AFFORDABILITY INDEX      112                      131                      128  

 *Estimated  **ProjectedSource: NAR 

By Robert FreedmanSource: Realtor Magazine Jan 09 Issue

Posted by Nilesh Jethwa Wilmington,NC Real Estate

Nilesh Jethwa is a local real estate agent in Wilmington, NC to contact Nilesh click here!