The purchase of a home is considered to be one of the most significant investments a person can make and as such, having the property inspected before closing serves as a final, critical step in the home-buying process.  Home inspection ensures the worthiness of the investment and decreases the possibility of purchasing a property with major structural or other serious problems that may lead to significant unforeseen costs for the new owner.

Coldwell Banker Sea Coast Realty real estate professionals offer the following tips for buyers to consider before completing their purchase:

Hire a Certified Home Inspector: 
Rely on the objective expertise of a qualified home inspector.  They are knowledgeable about construction practices in the area, capable of spotting problems buyers may miss and will provide a report on the condition of the property.  An inspection normally takes place after the parties have agreed on a selling price. Typically, real estate contracts contain a provision giving homebuyers a set number of days in which to have a home inspection completed. Homebuyers should get inspector referrals from their real estate sales associate, family, friends or neighbors before they go to contract. The American Society of Home Inspectors (www.ashi.org) is also a good source.  Coldwell Banker Sea Coast Realty associates can also recommend reputable home inspectors.

Review Essential Areas:
It is important to examine all areas of the home, including the exterior, interior, attic, basement, electric, plumbing and HVAC. Faulty construction, improper electrical wiring, inefficient insulation, old heating, building permit violations and other unseen pitfalls can lead to very expensive home repairs.

Search for Hidden Defects:
Examples of hidden defects include missing roof shingles, chimney deterioration or leaks.  It is also important to check behind walls. Mold, fungus and faulty wiring are often discovered in older homes.  Make certain the home inspector looks in crawl spaces as well. Even small plumbing leaks can cause major problems and costs if not identified and corrected.

Review Visible Defects:
Homebuyers should be aware of possible water damage, such as noticeable water stains on the ceiling, damp basement walls or musty odors. They should look for cracks in the walls, particularly around fireplaces or in foundation walls. Uneven floors and tilted stairways could indicate there has been movement in the foundation. Also, notice doors that are not perfectly vertical. If there is more space between a door and its frame at one end than at the other, the door is likely installed incorrectly.

Look for Minor Problems:
Items such as doors or windows that are difficult to open or bad paint jobs may not be serious defects but could be signs of bad maintenance. Kitchen appliances should also be in good working order.  Minor problems make for good negotiating points and can lead to the possibility of some concessions or a slightly reduced selling price.

Steps to Take After a Negative Inspection:
If the purchase contract is contingent on inspection of the home, negotiate a price adjustment or ask the sellers to make repairs.  If the problems are so significant that the home is no longer a worthwhile investment, get out of the deal and have all deposits refunded.  Always have a lawyer review any agreements to make sure that there is adequate legal protection prior to the inspection process.

For more information, please visit www.seacoastrealty.com or become our fan on Facebook.

When the time comes to sell a home, an open house can be a valuable tool for attracting potential buyers and increasing the likelihood of making a sale. Currently, there is an influx of buyers entering the housing market and high levels of inventory, interest rates near historic lows and an $8,000 federal tax credit incentive for first-time buyers.  Now more than ever, real estate agents suggest using more creativity with open houses.  This not only maximizes a home’s visibility, but also gives it the competitive edge it needs to stand out.

Below are six creative tips from the agents of Coldwell Banker Sea Coast Realty for making the most of an open house and what sellers can do to help:

Collaborate with the community. 
Everyone appreciates the convenience of one-stop shopping. Before your agent schedules an open house, he or she may suggest checking with neighbors for other activities that might be going on in the area such as garage sales, car washes, or town fairs.  Planning open houses on the same day as other community happenings can be a great way to increase traffic to all events while showing off the personality of the neighborhood.

Offer a personal perspective.
Agents commonly advise sellers to make themselves scarce during an open house. This is not to say that they do not enjoy the seller’s company but rather to ensure the sales associate can market the home objectively and potential buyers feel comfortable to scrutinize the property. However, agents will often suggest sellers share with them their positive experiences living in the home and community. While the agent is an expert on the local marketplace, sellers who can share their personal insight and knowledge from residing in the home and town, might just arm the agent with the piece of information a buyer has been waiting to hear.

Recruit your neighbors for help. 
Word of mouth is a powerful tool in the home buying and selling process.  Therefore, your agent is likely to distribute marketing materials around town providing details of the upcoming open house.  Ask your agent if he or she can provide you with extra copies so that you can share information with your neighbors.  They may have a friend or relative in search of a new home or know somebody who is.

Remember to depersonalize.
Homebuyers are looking for a home they can picture their family living in, not the previous owner’s so do not be insulted if an agent suggests taking down family portraits, personal collections and knickknacks. It is not that they dislike the seller’s personal style; removing these items will eliminate clutter and ensure that open house guests are looking at the house for sale, not at the photos from the last family vacation.

Give a friend a tour.
Prior to opening the doors to potential buyers, agents often recommend that sellers invite a “constructively critical” friend or relative to visit the home and offer an honest opinion about each room. This will be a good indication of whether or not the home is in good shape for selling or if it needs some minor adjustments.

Keep the home’s location in mind.
If the home for sale is in a place where potential buyers might have a tough time locating, an agent might propose a virtual open house. Speak with a local Coldwell Banker agent about how you can work together to post a video about the home, neighborhood and town on Coldwell Banker On Location, an innovative branded YouTube® channel designed to offer consumers a new way to search for and interact with real estate information and listings.

For more information, please visit www.seacoastrealty.com or become our fan on Facebook.

When selling a home, establishing a reasonable and, ultimately, profitable listing price is perhaps the biggest challenge that a homeowner faces. A home priced too high may go unsold, but a home priced too low will result in a loss for the seller.

While determining the correct asking price may take some work, it will ultimately pay off. In fact, in a recent survey of Coldwell Banker real estate professionals, 79% agreed that homes in their market that are priced appropriately attract more buyers and move more quickly.

Before settling on an asking price, the professionals at Coldwell Banker Sea Coast Realty recommend taking the following steps:

Choose the Right Sales Associate. 
While many home sellers use a friend or relative’s referral when selecting a sales associate, it is smart to interview a variety of prospective associates and invite them to show their listing presentations.  Pay attention to how they plan to market the home, and find out how many homes they (and their companies) listed in your local market in the past year as well as how many of them were sold.  Also, make certain they plan to list the home on the multiple listing service (MLS), and inquire about the breadth of the sales associate’s network of contacts.  Remember, the more prospective buyers a sales associate can attract, the better the chance for a successful sale.  Finally, because selling a home will require a lot of communication, the seller should ensure he or she connects with the sales associate’s personality. 

Do the Homework.
Home sellers should work with a real estate sales associate to develop a written comparative market analysis (CMA). This will provide a list of recent sales prices of similar homes in the area (with comparable numbers of bedrooms, baths, square footage and lot size), the asking prices of homes currently for sale in the neighborhood and other relevant information. They should also consult the Home Price Comparison Index available at www.coldwellbanker.com which offers buyers a way to compare average housing costs in over 400 U.S. markets.  Based on the information gathered, a sales associate will provide his or her professional estimation of a legitimate selling price.

Take the Emotion Out of It.
Sellers often take great pride in their homes, but it is important to set a priced based solely on factors like location, condition and size. A house in a secluded, exclusive area may be appealing to some buyers, while others will want to be closer to schools, shopping and health care facilities. What is the physical condition of the home? Is it a fixer-upper? Does it make a good first impression (or have “curb appeal”)? Will it appeal to a growing family, or is it better suited for empty nesters? These are all things that need to be considered when pricing a home.

Determine If It Is a Buyer’s or Seller’s Market. 
Home inventory, mortgage interest rates and the economy play a role in determining whether the buyer or seller has a negotiating advantage.  Interest rates remain at historically low levels even as the economy shows signs of improving, allowing buyers to be in a good position to shoulder the “good” debt of homeownership.  A sales associate will know the inventory levels in the community.

Do the Math.
Do not forget to figure in closing costs, legal fees and other selling expenses when determining the selling price.  The sales associate should be able to provide cost estimates, and negotiate with a potential buyer to ensure a fair sale price. 

Give It the Once Over.
After working with a real estate sales associate to get a CMA and considering all the other factors, the listing price will be set.  But there is one more step in trying to ensure that the house sells for that price, or more.  Do as much as possible to improve the home’s appearance: touch up the paint, fix leaks, seal any cracks, clean the home, eliminate clutter and rid the home of any pet odors. The house has only one chance to make a first impression.

For more information, please visit www.seacoastrealty.com or become our fan on Facebook.

Navigating all of the options available for homeowners insurance can be a challenge. Since “Mother Nature” reliably makes her appearances across the country year after year, selecting the proper insurance is critical to protect perhaps the largest purchase one will make over the course of a lifetime. It is a good idea to review the policy annually to ensure the best coverage is being provided.

To help, Coldwell Banker Sea Coast Realty offers the following primer on homeowners insurance.

The Fundamentals:
Standard policies should reimburse for basic damages including burglary and destruction to the home caused by fire, smoke, lightning, ice, snow and frozen pipes. In addition, traditional policies often offer liability coverage for medical claims of third parties and legal damages should the homeowner be named the defendant in a lawsuit. The most common amount of liability coverage is $100,000.

Be Prepared for the Worst Case Scenario:
Before granting a loan, lenders often require homeowners to purchase at least a basic insurance plan. However, homeowners should be prepared for the worst. They should find out exactly how much it would cost to restore the home from top to bottom in case of complete destruction, and then contemplate insuring it for that amount.

Although the policy will provide the funds to rebuild the structure of the home, money is still needed to refurbish the inside with new appliances, furnishings, etc. Many consumers are not aware that they have the option to insure their home and belongings for either the replacement cost or the actual cash value. Actual cash value is the amount it would take to repair a home or replace damaged possessions after factoring in depreciation. Replacement cost is the amount it would take to repair a home with materials of similar kind and quality, or to purchase new possessions without deducting for depreciation. Understandably, insuring property to cover replacement costs is more expensive than insuring it for its actual cash value, but may be worth the difference if a consumer can afford the higher premiums.

To best prepare for refurbishing the inside, put together a detailed home inventory list. Include everything from jewelry to artwork to carpets to computer equipment to tools and sporting equipment. A list with receipts attached is ideal.  Also consider doing a photographic or video inventory (date stamp the video as a record) in which the key information is chronicled. Whether a written or visual property catalogue is compiled, be sure to include a description of the item, quantity owned, brand name, model or serial number, name of the vendor, date of purchase, purchase price, current value and replacement cost.  Another tip is to keep this documentation in a separate location in case tragedy should strike the home.

Water, Water, Everywhere?
According to the National Flood Insurance Program (NFIP), flooding is the most common natural disaster in the U.S., yet it is typically not covered by traditional home-owners insurance policies. It is however offered by the National Flood Insurance Program (NFIP) for many areas of the country. In fact, if a property lies in a flood hazard area (determined by the Director of the FEMA to have a one percent chance of being hit by a flood), the borrower will likely be required to purchase flood insurance.  If you live in an area prone to flooding, consider purchasing such a policy from a local agent. It is not wise to rely on federal disaster funds, as these loans must be repaid.

Sometimes floods are brought on by hurricanes. Hurricanes “Katrina” and “Rita” are reminders of the devastation that storms can cause. Unfortunately, hurricane insurance has become pricier and more difficult to obtain. Those living in hurricane prone areas should shop around for the most comprehensive and affordable policy from a reputable provider.

For more information, please visit www.seacoastrealty.com or become our fan on Facebook.

This week, state & local officials discussed plans for Wilmington’s growth at an economic and business development forum hosted by Coastal Carolina Tomorrow.

Growth strategies included expanding the film industry and arts scene, becoming more involved in historic preservation, and fostering year-round tourism.

What actions would you like state & local leaders to take toward the Wilmington area’s growth?

The New Hanover County town of Carolina Beach has a laid-back attitude, dozens of restaurants, and countless ways to enjoy the beautiful outdoors.

Coldwell Banker Sea Coast Realty’s Greg Barber is a Carolina Beach resident. He shares some of the great things to do and see in Carolina Beach, NC.

If you’re in the market for a beach property without the hefty price tag, Greg says you’ll want to check out Carolina Beach.

For more information, please visit www.seacoastrealty.com or find us on Facebook.

St. James, North Carolina is a small town located just outside of Southport, North Carolina.  Incorporated in 1999, the majority of the Town of St. James is located within the gated community of St. James Plantation.  It features a full service marina, four premiere golf courses, tennis, beach activities, a private beach club, biking trails, walking paths and more.

St. James resident and Coldwell Banker Sea Coast Realty associate Ken Keegan shares his St. James expertise.

For more information, please visit www.seacoastrealty.com or find us on Facebook at www.facebook.com/seacoastrealty.

Thinking of relocating, but you just aren’t sure? Why not take a “test drive”?

Pat Maloney with Coldwell Banker Sea Coast Realty suggests three great ways that you can get a feel for areas like the NC coast before you make a commitment.

Why not rent a beach cottage during the off-season to get a feel for the area? Pat says it’s a great option, especially if you’re already retired.

If you aren’t retired, but want to test the waters, Pat suggests buying a “little something”, a small home that you’ll use for weekend getaways and family vacations. Then when you do retire, you can decide if moving to the coast is what you have in mind.

For those that are more daring, but still not ready to buy, Pat suggests moving somewhere and renting a home for no longer than 6 months.

With all the natural beauty and friendly folks on the Cape Fear Coast, you’ll be surprised how quickly you feel at home.

For more information, please visit www.seacoastrealty.com or find us on Facebook at www.facebook.com/seacoastrealty.

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.

The city of Boiling Spring Lakes takes its name from the array of 50 lakes and a natural boiling spring there.  Sharon “Zak” lives along the 10 mile shoreline of the “Big Lake,” where she enjoys the natural beauty and friendly faces.

For more information, please visit www.seacoastrealty.com or find us on Facebook.