Why Buy a Wilmington, NC Short Sale?

It’s no secret that the Wilmington, NC area, including Wilmington itself, Wrightsville Beach, Carolina Beach and Leland, is one of the best places to live. Wilmington has a population of just under 110,000 people (2012 data), a thriving art scene, an historic downtown and plenty of beaches. It’s one of the most popular tourist destinations in North Carolina with four of the state’s most popular tourist attractions within about half an hour. Wilmington, NC is not just a popular tourist destination though; people move here from all over the country.

One downside to Wilmington’s popularity and the fact that so many people want to live here is that the law of supply and demand keeps the houses more expensive than other areas a little further inland. It’s not as expensive as buying a home in the Hamptons by any means, but the home prices drop a good bit if you head out towards places like Burgaw or Beulaville.

So what if you want to own a home in Wilmington so you can be near the beach, but you don’t want to spend an arm and a leg? Consider a short sale.

To quote myself, a short sale is when a seller attempts to sell their property for an amount that is less than the price they paid for it. Because the other option is a foreclose, which can cost the lending bank $40-50,000, banks see short sales as a way to cut their losses so they are often more inclined to grant a short sale than go through a foreclosure. As a result, a home buyer can save a lot of money by purchasing a short sale.

If you’re one of the many people who wants to own a home in the Wilmington, NC area, but you’re just not sure if you can afford it, give Nilesh Jethwa a call at 910-622-0319. Nilesh is a short sale expert and can help you find and get into the perfect Wilmington, NC short sale home.

Today’s Homes and Appliances are built Smart

Today’s Homes and Appliances are Built Smart.

Here are some ways you can integrate new technology into your home so you can both relax and increase its value.

The Future:  Whole House Remote Control

With home automation, the ability to control every aspect of your home-from lighting and room temperature to entertainment center- can be held in your hand. A “smart home” uses a single centralized controller to integrate various systems, so that with the push of button, you can turn on lights, open or close blinds, adjust multiple rooms to your desired temperature or even activate or deactivate you security system. You can set a group of actions to happen when certain events occur.

Just about anything you plug in can be networked into your home automation system. This makes your life easier and provides a great point if you decide to put your home on the market.

 

 

Be Smart. Save Energy and Money with Efficient Appliances

Cut you monthly utilities bills while helping the environment by purchasing appliances- refrigerators, dishwashers, laundry machine, ECT. – That is energy efficient. The Plant (and your wallet) will thank you.

 

Look for the Energy Star Label

Energy Star products exceed the minimum energy efficient requirements set by the federal government. In addition, utilities and state government may offer rebates on Energy Star- related models. Pay attention to the Energy Guide label as well. This label allows you to compare the typical annual energy consumption and operating cost of different models of the type of appliances you’re thinking of buying.

 

Choose The Right Size

Why buy an oversized appliance when a smaller counterpart will get the job done? When you choose the appliance that fits your needs, you’ll save money and reduce your energy bill.

 

Choose Natural Gas

Look for dyers and water heaters that run on natural gas, rather than electricity.

 

Think Long Term

Energy efficient appliances last for years and will lower your monthly utility bills over the lifetime of the appliances higher initial purchase price.

 

 

Join me next week as I go over HOW TO HIGH TECH YOU HOME?

 

Posted by Nilesh Jethwa Wilmington, NC

 

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

 

 

Landscaping: Curb Appeal

Landscaping Enhances Your Curb Appeal-and Home Value.

Landscaping, can add 7-15% to your home value. Colorful landscaping, a fresh coat of paint and attention to detail not only bring you enjoyment every day, but they also increase the value of your home. Landscaping can return 100-200% of your investment when it comes time to sell, while Money Magazine reports that a swimming pool returns only 20-50% of your money. Mature landscaping can lower energy costs, dampen noise, and help reduce air pollution. Here are a number of ways to enhance your home’s value through some simple, fun, and relatively inexpensive landscaping ideas.

 

Landscaping 101

Select Indigenous Plants

Choosing native rather than exotic plants for your landscaping will reduce maintenance and increase curb appeal. Indigenous grasses, trees, and shrubs grow well together and to predictable sizes. They do not need watering (except during establishment), nor do they require chemical fertilizers because they are already adapted to local conditions and insects. Native plants not only accent your home, they also attract colorful birds and butterflies.

 

Bring Life to Small Spaces

 

Small garden areas should not feature too many different kinds of plants and materials. This will make your landscaping look cluttered. Paint outdoor walls and fences light shades to open up the space. Take

Advantage of vertical space with shelves, trellises, and hanging pots. Container gardening can work miracles in small spaces, with the added benefit of  being easy to move according to the plants’ needs. If you live in a condo or apartment, revitalize your entryway, patio or balcony with attractive hanging baskets, planters and unique personal accessories.

 

Cold  Weather Gardening

 

Keep your landscape from looking cold and bare in the fall and winter months by choosing hardy plants that look great year round. Instead of foliage and flowers, it is important to think in terms of bark, berries and shape. Japanese maple trees have unusually colored bark, while others such as the Japanese pagoda trees have interesting fruits or seeds that form during the fall and winter. Wisteria can form strange, twisting branches, and evergreens plants provide visual appeal against a winter landscape.

 

Create an Outdoor Space

 

Create an outside living area by adding a deck or patio for entertaining and relaxing year round. This addition is also a great investment in your home. A 2008 Cost vs. Value Report produced by the Realtor Magazine stated that installing a deck provides up to 81.8% return on investment. There are a variety of different surfaces to fit any particular investment. There are a variety of different surfaces to fit any particular style or budget, including concrete pavers, natural clay, wood, stones, and bricks. Pebbles, gravels, bricks, and tiles can also be incorporated easily and inexpensively.

 

Posted by Nilesh Jethwa Wilmington, NC

 

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

First Time Homebuyer Tax Credit, Wilmington NC

The U.S. House of Representatives passed the final version of the Economic Stimulus Bill – a massive, $787 billionpackage of tax cuts and federal spending. The U.S. Senate is expected to vote on this bill later today or over theweekend. Included in the bill is a $8,000 tax credit to first-time home buyers.

To veiw the chart with more details about this tax credit click here.  

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!

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……….

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.