Many hardworking North Carolina families don’t earn enough to afford an average-priced home in their community.  Real estate professionals with Coldwell Banker Sea Coast Realty recently earned the North Carolina Workforce Housing Specialist certification and learned about programs that can help teachers, firefighters, nurses, and other service workers in our community achieve the dream of home ownership. 

Brett Adams, Cathi Anderson, Carolyn Dunwell, Paul Dunwell, Tom Gale, and Amy Whetsel from Coldwell Banker Sea Coast Realty’s Wilmington office earned the certification.  Homes4NC, a housing foundation created by the North Carolina Association of REALTORS®, offers the certification to REALTORS® who take extra steps to learn about the federal, state and local housing programs specifically designed to help buyers that earn less than the area median income.  They also work within the community to increase housing affordability for all citizens.   

“My wife is a teacher, so I hear from her colleagues all the time about how hard it is to find affordable housing,” said Tom Gale.  “With the training we received, I know about more lending programs that can help them.”

According to Homes4NC, wages in North Carolina are not expected to keep pace with the cost of housing.  Half of the state’s future jobs are expected to pay 60% of the state’s current average earnings.

To earn the certification, REALTORS® must complete sixteen hours of educational courses that focus on national, state, and local affordable housing resources. For more information about the North Carolina Workforce Housing Specialist certification, visit www.Homes4NC.org.

The VA Loan Entitlement is the basic amount for which the Veteran’s Administration will insure or guarantee a loan.  The loan entitlement is based on an applicant’s income.

The VA Guaranty Amount varies with the size of the loan and the property location with the VA guaranteeing 25 percent of the principal amount, up to the maximum guaranty.  For the United States (excluding Alaska, Hawaii, Guam and the U.S. Virgin Islands) the guaranty amount is the greater of 25% of $417,000 or 125% of the area median price of a single family residence.  It’s a good idea to check with a lender for current figures.  However, the guaranty amount cannot exceed 175% of the Freddie Mac limit for a loan on a single-family residence in the county where the property is located.  In 2009 the maximum loan amount was $1,094,625.

The initial step in purchasing a home using a VA loan entitlement is to obtain a Certificate of Eligibility (COE), a VA-provided document that certifies your eligibility for a VA home loan guaranty.  There are two ways to obtain a Certificate of Eligibility: online or by mail.

Online:
You can obtain a COE online by first registering at the Veterans Information Portal.  There are instructions for applying for your COE online, but the process can be daunting if you aren’t familiar with all the jargon.  However, try WebLGY first because approximately 56% of attempts result in an immediate COE.  If you find the Internet a little overwhelming, then I recommend working with a lender that has access to the VA’s WebLGY system.  A lender can help walk you through the process and may be able to issue your COE in minutes.  A quick call to a lender can tell you if that lender has access to “WebLGY.” 

As you shop for a loan, don’t limit yourself to just one lender.  Visit three or more and let each lender know you are “shopping,” because competition can result in offers of more competitive loan packages. 

By Mail:
Sometimes the VA does not have sufficient data in its online records.  In that case, you must apply for the COE by mail.  A veteran can obtain a COE by completing VA Form 26-1880, Request for a Certificate of Eligibility, and mailing the form to: VA Eligibility Center, P.O. Box 20729, Winston-Salem, NC 27120.  Just remember, you are dealing with the VA.  It may take time for the VA representative to receive, process and then approve (or reject) your request and then return the COE to you.

Once you receive your COE, you have completed Step 1 of the 7-step process to purchasing a home.  Step 2 is finding a home you wish to purchase.  We will look at that step in the next blog entry.

H.C. “Hutch” Hutchison, Ed.D., retired from the U.S. Army in 1991, after more than twenty-two years of active duty.  Since then, the former helicopter test pilot and aviation maintenance officer has earned his third post-graduate degree and taught under-graduate and graduate courses.  In addition to practicing real estate with Coldwell Banker Sea Coast Realty, Hutchison is active in national, state, and local leadership organizations and local chapters of the Vietnam Veterans of America, Veterans of Modern Warfare, Disabled American Veterans, Veterans of Foreign Wars, and United States Army Warrant Officer Association.

Jacksonville, North Carolina is America’s best place to get a job, according to Forbes magazine. 

The 2010 list of “Best Cities For Jobs” was released this week.  Last week Forbes also ranked Jacksonville #75 in its list of “Best Small Places For Business and Careers.”

According to Forbes’ Joel Kotkin, Jacksonville’s economy grew 1.4% last year and government jobs there grew 3.3%.  Those numbers wouldn’t have been a big deal a few years ago, but they’re exceptional considering the negative growth in many places across the country.  Experts say that metro areas focused on one industry aren’t recession-proof, but seem to be recession-resistant, especially college towns, government centers, military bases, and healthcare centers.

“The area includes the massive Marine Base at Camp Lejeune, a beehive of activity since the U.S. started waging two wars in Afghanistan and Iraq,” says Kotkin, also noting that the area’s employment base has grown 22.8% since 1998.

While Marine Corps Base Camp Lejeune and Marine Corps Air Station New River are undoubtedly the area’s top employers, there are also a wide variety of civilian jobs in the Jacksonville area.

“There are big name contractors hiring local people and former Marines to work on base,” Ralph Leeds, director of the N.C. Employment Security Commission in Jacksonville, told the Jacksonville Daily News. “People don’t realize the big names are here because they don’t have an office with their name out front, but companies like Boeing, General Dynamic and Northrop Grumman keep a lot of people employed.”

“We have been recognized a lot lately for the strong housing market here and the low cost of living,” he said. “Of course, a lot of it has to do with the base, but Coastal Carolina Community College and Onslow Memorial Hospital are also big boosts to our local economy.”

Rosy Hays

Coldwell Banker Sea Coast Realty is thrilled to welcome Rosy Hays to our Jacksonville, NC office. 

“I love Jacksonville,” says Hays on her website.  “In 1992, I came to Jacksonville while in the Marine Corps.  My first weekend here,  I rented a pontoon boat and had my first experience with the beautiful Intercoastal Waterway.  Well, I knew this would be my forever home.” 

Prior to becoming a real estate professional several years ago, Hays earned a degree in business management from Mount Olive College and worked in the mortgage industry for eight years.  She also speaks German.

“I’ve also found that providing the very best service is essentially about putting my clients first. This means keeping myself accessible, being a good listener as well as a good communicator, and responding quickly to your needs,” says Hays.

Readers of Wilmington’s Encore magazine have voted Coldwell Banker Sea Coast Realty as Wilmington’s Best Real Estate Company in their “Best of Wilmington 2010″!

Thanks go out to everyone that voted for for us.  Though this isn’t our first “Best of Wilmington” award, we’re still thrilled by this honor.  Our more than 300 agents and staff take great pride in the fact that every year for the last decade, we’ve sold more homes in southeastern North Carolina than any other real estate company.

Check out the nice things Encore had to say about us:

BEST REAL ESTATE AGENCY

The local and national housing markets may have taken a hit due to the recession as of late, but Coldwell Banker Sea Coast Realty is soaring high above the rest with their win for Best Real Estate Agency. Serving the cities of Wilmington and Jacksonville; the coastal communities of Carolina Beach, Topsail Beach, Surf City, Wrightsville Beach, Figure Eight Island, North Topsail Beach, Kure Beach, Bald Head Island, Oak Island, Ocean Isle Beach and Holden Beach; and coastal communities, including Porters Neck, Southport, Sneads Ferry, Leland, Scotts Hill, Hampstead, Holly Ridge, Camp Lejeune, New River, Bolivia, Shallotte, Boiling Spring Lakes and St. James, Sea Coast is without a doubt a leader in its industry. In fact, it is the number-one real estate company in southeastern North Carolina, selling more properties than any area firm for the past eight years.

With 300-plus agents and seven convenient locations (two in Wilmington, on Military Cutoff Road and at Porters Neck) Sea Coast is more than equipped to satisfy anything their customers desire. They can handle relocation needs, from start to finish, and even offer a 100-percent Satisfaction Guarantee. In an ever-changing real-estate climate, Sea Coast has remained true to its roots and continues to offer first-class service with a reputation clients have learned they can trust. Their easy-to-navigate Web site, www.seacoastrealty.com, only adds to what Wilmington recognizes as dependable, up-to-date and quality service.

If you are thinking about buying or selling a home in New Hanover, Brunswick, Pender, or Onslow County, North Carolina, shouldn’t you have the “Best of Wilmington” working for you?  Visit us online at www.seacoastrealty.com or call us at 1-800-522-9624.

Normally, the winter months are a pretty slow time in the real estate business.  While the weather has been cold outside this year, the real estate market has been getting hotter and hotter. 

In January 2009, homebuyers toured Coldwell Banker Sea Coast Realty listings 2,757 times!  That’s a whopping 72% increase from the previous month.  The number of showings is expected to grow even more over the next few months.

Our real estate professionals say that there are lots of homebuyers hunting for homes earlier than usual this year, so that they can take advantage of the homebuyer tax credit before the April 30, 2010 deadline.  First-time homebuyers are eligible for an $8,000 tax credit.  Homeowners that have been in their current home for the last 5 years are also eligible for a $6,500 tax credit.  In addition, real estate agents say that there are lots of investors and folks looking for second homes out looking for great properties at a bargain price.

If you are considering selling your home, it’s smart to contact a Coldwell Banker Sea Coast Realty agent today.  Our real estate professionals in New Hanover, Brunswick, Pender, and Onslow counties will expertly market your home, so that it will get the attention it deserves and sell for the most money.

Coldwell Banker Sea Coast Realty has been southeastern North Carolina’s top home seller for the last 10 years!  Find out more at www.seacoastrealty.com.

Coldwell Banker Sea Coast Realty represents 18 different new home communities in the Jacksonville, NC area.  Homebuilders, developers, and real estate professionals all got together for fresh oysters and fun Thursday, December 10, 2009 when we hosted a Homebuilder Appreciation Event at our Jacksonville, NC office.  Check out the video shot and narrated by Linda Snow, Managing Broker of the Jacksonville office.

“Jacksonville is a very unique area,” says Jenna Morton of Coldwell Banker Sea Coast Realty.  Morton has lots of experience helping folks in the Jacksonville, NC area buy and sell homes.  The Onslow County town of almost 70,000 neighbors Marine Corps Base Camp Legeune.  As Morton explains, Jacksonville has a variety of housing options, whether you’re a civilian or military active duty, dependent, or retiree.

Jacksonville is one of the fastest growing cities in Onslow County. Home to more than 70,000 residents, the city boasts of collaborative interaction of the government, businesses and citizens for solving public issues and shared problems. It is also home to the Marine Corps Air Station New River and Marine Corps Base Camp Lejeune. Jacksonville real estate offers affordable houses and properties in a growing city. It is also very close to many tourist attractions – family, military, sports, and more. If you are looking at buying a home you can also check out Camp Lejeune real estate for bargain deals.

Looking for a quiet beach community to enjoy along the North Carolina coast?  The town of Topsail Beach is located at the south end of Topsail Island, with only 500 year-around residents.  Topsail Beach real estate consists of over 1200 homes, majority of them seasonal residents with the 25 mile convenience of I-40.  Resident families and tourists are able to enjoy swimming, surfing, walking the sandy beaches and visiting the local array of restaurants for every budget.  Many military structures are still standing on Topsail Island, making it a great place for family to take a look back in history.  For even more history visit Camp Lejeune, NC, a full service military installation not too far from the Jacksonville area. Camp Lejeune real estate offers homes, townhouses, condos and even undeveloped land for building your own custom home.  Activies such as sailing, boating, jet skiing, and other water sports are available year-around.  The area is full of history buffs and all sorts of activity from water sports, golfing, horseback riding and bowling.