Coastwalk Real Estate Blog

 

Feb. 27, 2017

Wilmington NC price per square foot

If you’ve been calculating your home’s value based on market “price per square foot” reports, you may be vastly overestimating or (worse) underestimating your home’s true value. Here’s why:

 

Price per square foot is a concept in real estate which is easy to understand and just as easy to misuse. The formula is pretty simple: To determine price per square foot, you take a price, such as sale price of a home, and divide it by the square footage of the property.

 

Price per square foot is useful in looking at broad market comparisons, such as comparing one entire metro area to another, or looking at an area’s average change over time. It is not, however, terribly accurate in figuring out the value of your home.

 

Why? Well, price per square foot fails to take into account the most important factors when pricing a home.

 

First and foremost, it makes assumptions about the home’s amenities. We all know the quality of materials used in home construction and the condition of the home’s appliances and other features can have a dramatic impact on the value of a home. A kitchen with Italian marble surfaces versus one with pressboard countertops will have completely different values. Price per square foot in a given neighborhood will blend these homes together and produce an average.

 

Second, price per square foot assumes locations are identical, but in almost any metro area there are up-and-coming neighborhoods as well as neighborhoods in decline. Price per square foot near an abandoned industrial zone will vary considerably from one near a well-established downtown district with a great walkability score.

 

Third, even the simple methodology of calculating price per square foot can be influenced by how the total number of square feet has been calculated. If one has a garage converted into a mother-in-law, and another home doesn’t, which square footage is valid? And what about home or lot size? Sometimes above or below-grade lots can influence the price per square foot as well.

 

Price per square foot is more useful in some situations where there is tremendous uniformity in the design, construction, and location, but as a tool for assessing your home’s market value, it’s flat out dangerous.

 

Want a real estimation of your home’s value in its current condition, with an assessment of features, lot size and location? I’d be happy to help. Get in touch today, and I’ll show you what goes into determining the optimal price for your home. Please call me at 910-352-0998

 

Your Weekly Real Estate Report is provided by Justin Donaton of Coastwalk Real Estate. Any data provided, unless otherwise noted, is courtesy of the Wilmington Association of REALTORS MLS and/or the National Association of REALTORS.

 

 

Justin does not just "list" properties, he sells them! To sell your home SOLD for the highest possible price, call Justin at 910-352-0998. Justin has been the TOP SELLING real estate agent on Pleasure Island since 2007 and has sales volume exceeding $100,000,000.00! His business is built on hard work and high-impact marketing. Coastwalk Real Estate is also a TOP SELLING real estate firm in Carolina & Kure Beach. Please visit:  www.CoastwalkRealEstate.com for more info.

Feb. 27, 2017

Preparing to move to Wilmington NC

Are you preparing for a move? You probably know to notify your friends and loved ones, but there turns out to be a surprising number of people and organizations who need to know about the address change. A recent article from Zillow included a comprehensive checklist which covers pretty much everyone you will need to notify:

 

1. Family and friends

2. Current employer

3. Landlord

4. Postal services

5. Utilities

6. DMV

7. Government agencies

8. The IRS

9. Financial institutions

10. Insurance companies

11. Medical and educational facilities

12. Subscription services and clubs

 

Be sure to read the article to check out advice for notifications when dealing with each of these 12 parties who need to be notified. Read all about it here: http://www.zillow.com/blog/who-to-notify-when-moving-187286/)

 

While certain companies and institutions usual have formal processes for notification of an address change, it can be a good idea to go ahead and get some inexpensive postcards printed up announcing your move.

 

If you’re looking for other superb moving tips, don’t miss out on the website Moving.Tips (http://http://moving.tips/) It contains a wealth of information on issues and questions surrounding making a move, including articles such as “Why cheaper is not necessarily better when moving house?” and “How to say goodbye to a home when moving?”

 

Moving can be stressful, but there’s a lot you can do to reduce stress and even add some much needed fun and satisfying emotional transitions to the event.

 

Thinking about a move? I can help you buy or sell your next home. Please call me at 910-352-0998, I am here to help and look forward to doing so!

 

 

Your Weekly Real Estate Report is provided by Justin Donaton of Coastwalk Real Estate. Any data provided, unless otherwise noted, is courtesy of the Wilmington Association of REALTORS MLS and/or the National Association of REALTORS.

 

 

Justin does not just "list" properties, he sells them! To sell your home SOLD for the highest possible price, call Justin at 910-352-0998. Justin has been the TOP SELLING real estate agent on Pleasure Island since 2007 and has sales volume exceeding $100,000,000.00! His business is built on hard work, customer service and high-impact marketing. Coastwalk Real Estate is also a TOP SELLING real estate firm in Carolina & Kure Beach. Please visit:  www.CoastwalkRealEstate.com for more info.

Feb. 27, 2017

2017 Real Estate Plans for Wilmington market

I have been in the business for 12 years, and this is the most fun I’ve had since I started. It’s fun to see our clients enjoying the process as well.

 

2016 turned into another record year for real estate (and for Coastwalk Real Estate).  It’s an exciting time as clients are selling their homes at prices we have not seen for the past 10 years.  At the same time we’re meeting such wonderful new friends who are moving to the island full time, or purchasing a second home at the beach!

 

We are now planning for an even greater 2017, and are working with our buyer and seller clients to make this happen!

 

We have tons of buyers looking from around North Carolina, Northern Virginia, Pennsylvania, Ohio and the Northeast! Also working with buyers moving from California, Texas and Florida – the beach and Wilmington is hot!

 

We have a ton of top-notch marketing including advertising on 50+ of the top websites available. We’re holding open houses, broker opens, and marketing our listings to over 50,000 agents across North Carolina. As a result, we’re finding lots of buyers for our listings.

 

Clients receive feedback reports on all showings, and a weekly email summarizing online activity and exposure.

 

The Coastwalk Moving Truck has been used by 75+ customers and clients in 2016, and the schedule is filling up quickly Clients and customers can use our truck anytime!.

.

Our social media presence is as good as it gets, with tons of exposure on Facebook, Google+, Instagram, Twitter, Pinterest and LinkedIn. We have incorporated aerial photography and short videos into the mix.

 

And most importantly, we’re educating buyers on the benefits of living on the Island. We provide clients with local school information (Carolina Beach Elementary is the best!), resources for community clubs and organizations, social opportunities, event schedules, outdoor activities, taxes rates, insurance rates and more!

 

In 2016, we rolled out our in-house home staging service. Our interior designer is available to help stage your home for optimal presentation. The feedback we’ve received on this is tremendous! This helps us sell more homes and for a better price! This service is available in 2017 as well.

 

In February, we’ll be rolling out the Wilmington Real Estate app, which will be one of the best real estate apps available (we think better than Zillow)! You’ll be able to follow new listings, homes for sale in your neighborhood, and track properties that have recently sold, those that have gone pending, and more!

 

While some market segments and price points are hotter than others, in general it’s a strong housing market in Carolina and Kure Beach. With low interest rates (but increasing) and relatively low inventory, we remain very optimistic for 2017.

 

I am so grateful for my clients, new and old, for allowing me to be of service. I am so grateful for the referrals they provide, as this is the cornerstone of my business.

 

I would like to close by sharing a few recent recommendations from clients whose homes I have sold over the past month or so. If you are looking for an agent in 2017, I would love the opportunity to earn your business. Please call my cell anytime at 910-352-0998!

 

Justin Donaton did a great job in selling our house on Carolina Beach. He has great local knowledge and was very helpful in getting started properly. He was responsive and very sensitive to our suggestions and requests. His experience was a big factor in a successful sale.” – Ed Altiere

 

“Justin Donaton is very professional in handling the marketing and sale of my property. He showed a keen awareness of market values as well as the current market trends. His marketing expertise was realized in his ability to match a buyer for my property. Justin listed and sold my property with in 30 days of listing. I highly recommend Justin.” – Jim Vatrt

 

Justin is the BEST in the community and local real estate market!!!! He is incredibly easy to work with and has his client's best interest at heart. He gives good advice and can be trusted to help you make good decisions. I would recommend Justin unconditionally!!!!” – Mary Deaton

 

“Justin was very responsive and easy to deal with. Property sold in 3 days. Handled everything that needed to be done in a quick and professional manner. I will use him on my next purchase or sale.” – Laird

 

Your Weekly Real Estate Report is provided by Justin Donaton of Coastwalk Real Estate. Any data provided, unless otherwise noted, is courtesy of the Wilmington Association of REALTORS MLS and/or the National Association of REALTORS.

 

 

Justin does not just "list" properties, he sells them! To get your home SOLD for the highest possible price, call Justin at 910-352-0998. Justin has been the TOP SELLING real estate agent on Pleasure Island since 2007. He has the highest dollar volume of sales, and has had the most number of closings. His business is built on hard work and high-impact marketing. Coastwalk Real Estate is also a TOP SELLING real estate firm in Carolina & Kure Beach. Please visit:  www.CoastwalkRealEstate.com for more info.

Feb. 27, 2017

Buying a home in Wilmington, North Carolina now

When you’re house hunting, it’s easy to get overwhelmed. You’re making a big investment. You want to find a place which is “just right” for you (and your family). You can even get a little addicted to touring houses, always convinced the perfect home is just about to hit the market. Sometimes inability to pull the trigger on a house can cause serious shopper’s remorse. You could miss out on a home that, in retrospect, was ideal.

 

So how do you know a home is “the one”?

 

Here are some useful ways to check your buying temperature and know when it’s time to make an offer:

 

1. The home fundamentally meets your needs. There’s plenty of compromise in home hunting, so when you find one that has the basics covered, take note.

 

2. You’d consider renovating for those luxurious little extras. Maybe the home is missing that pool you’ve always wanted, or is missing a detached workshop/garage space. Recognize when you find yourself thinking you’d be up to tackling a project to make it perfect.

 

3. You’re in love with the kitchen. Studies show we spend most of our waking hours connected to or using the kitchen. If you’re in love with the kitchen, but think the master bedroom is a little small, don’t make mistake. This could be the one.

 

4.The bathroom feels comfortable to you. Many times, other people’s bathrooms will give you the creeps. If you feel good about the bathroom, it’s a healthy sign. After all, you have to be naked in there.

 

5. You start to see your possessions in the house. If you’re thinking “ah yes, the flatscreen could go on that wall” and “wow, my bed would fit perfectly in this suite,” then you’re starting to imagine the house as your own.

 

6. The idea of someone else buying the home gives you a pit in your stomach. If you’re “sleeping on the decision” and the idea that the home is no longer an option makes you anxious, pay attention. It could be offer time.

 

So… are you ready to buy? Please give me a call  today at 910-458-9119, or shoot an email to justin@coastwalkrealestate.com. Thanks a ton.

 

Your Weekly Real Estate Report is provided by Justin Donaton of Coastwalk Real Estate. Any data provided, unless otherwise noted, is courtesy of the Wilmington Association of REALTORS MLS and/or the National Association of REALTORS.

 

Justin does not just "list" properties, he sells them! To get your home SOLD for the highest possible price, call Justin at 910-352-0998. Justin has been the TOP SELLING real estate agent on Pleasure Island since 2007. He has the highest dollar volume of sales, and has had the most number of closings. His business is built on hard work and high-impact marketing. Coastwalk Real Estate is also a TOP SELLING real estate firm in Carolina & Kure Beach. Please visit:  www.CoastwalkRealEstate.com for more info.

 

 

Feb. 27, 2017

These Affordable Design Details Sell Your Home Faster!

These Affordable Design Details Sell Your Home Faster!

 

What is it about a home that catches a buyer’s eye? Why is it when two homes are comparable to one another, buyers go with the one that just “feels right”? Sometimes the difference is so small, they don’t consciously notice. Little touches can give a home a major edge in the market.

 

In fact, here are five clever design upgrades which can provide your home with that indefinable feeling that it’s of higher quality than the competition:

 

1. Light switch plate upgrades. Homeowners always overlook their own dirty, chipped, or cheap-looking switch plates. If you spend a few bucks to swap out switch plates, any room in the house will seem a tiny bit fresher. Better yet: In the bathroom and kitchen, match the color of your new switch plates to the tile. Look at the accent color in the bathroom or the backsplash in the kitchen for inspiration.

 

2. Dimmers on major rooms. Bright lights are great for showing off a home, but there’s a little sense of luxury when the overhead lights in living, dining, family, and master bedrooms are on dimmer switches. For fixtures controlled by one switch, get single pole dimmers. For those controlled by two, you’ll need 3-way dimmers.

 

3. Tasteful crown molding. For rooms without crown molding, adding this touch can really make a plain room feel high-quality. Entryways and master bedrooms are good choices if you have a limited budget, but if you want to go all out, include the other bedrooms as well. The key is adding molding which doesn’t seem ostentatious or inappropriate given the size and existing decor in the room.

 

4. Custom home address plaque. For between $50 and $100, you can have an address plaque created with the home’s number and the street name spelled out. Look online for inspiration and a design which fits your home. This is a killer upgrade and many homeowners overlook it when they’re trying to add curb appeal to their house.

 

5. New cabinet and drawer hardware. It’s astonishing how much modern handles and drawer pulls go towards rejuvenating tired or outdated storage. At a minimum, concentrate on the kitchen, but if you want to go all out, look for options to upgrade the bathroom as well.

 

You might not be able to quantify the exact return these clever upgrades will net you, but you can bet they will help your home stand out from sellers who won’t take the time to make some simple changes.

 

Are you ready to sell? Please call today at 910-352-0998, or shoot an email to justin@coastwalkrealestate.com. Thanks a ton!

 

~

 

Your Weekly Real Estate Report is provided by Justin Donaton of Coastwalk Real Estate. Any data provided, unless otherwise noted, is courtesy of the Wilmington Association of REALTORS MLS and/or the National Association of REALTORS.

 

 

Justin does not just "list" properties, he sells them! To get your home SOLD for the highest possible price, call Justin at 910-352-0998. Justin has been the TOP SELLING real estate agent on Pleasure Island since 2007. He has the highest dollar volume of sales, and has had the most number of closings. His business is built on hard work and high-impact marketing. Coastwalk Real Estate is also a TOP SELLING real estate firm in Carolina & Kure Beach. Please visit:  www.CoastwalkRealEstate.com for more info.

Dec. 3, 2016

Wilmington HOAs

I hope this note finds you well. This week I wanted to talk about Home Owners Associations. Some love them, some don’t ;).

 

If you’re purchasing a home and are confused about what a Home Owners Association is (or does), you should definitely ask the right questions before you consider buying. Basically, an HOA is an organization which is designed to protect the quality of life and property values for owners within a neighborhood or shared building. How they do so, though, can vary widely. Typically when you purchase a residence subject to an HOA, you’ll be required to pay monthly dues which often contribute to major repairs or maintenance or the upkeep of common/shared resources.

 

But HOAs can also have a significant impact on what you can and can’t do with your own home. The HOA’s rules are detailed in what’s called covenants, conditions and restrictions (CC&Rs). To understand how strict an HOA is (or isn’t) you’ll want to understand the details of its CC&Rs before you consider buying. These might have reasonable restrictions, such as keeping junk cars out of the front lawn, or they might extend all the way to what color you can paint your garage door.

 

HOAs are typically of greater concern to condo buyers than single-family home buyers, but they cannot be overlooked when searching for your next residence. Here are some questions you’ll want to ask yourself and the HOA before you make an offer:

 

1. How comfortable am I sharing decision making about my own home? Yes, you own your property, but if you agree to abide by the CC&Rs of an HOA, you’ll need to be willing to abide by its rules.

 

2. How much are the HOA fees, and how much have they increased over time? Your budget can be seriously impacted not only by current HOA fees, but anticipated increases. Sometimes HOAs can even require residents to chip in for major repairs or upgrades beyond HOA fees.

 

3. What are all of the CC&Rs? Get a copy of the CC&Rs and make sure you understand all of the rules. Furthermore, see if you can sit on on an HOA board meeting or obtain notes from past meetings. This will help you understand the temperament of the HOA as well as the type of past conflicts residents have had with the board.

 

4. Is the home (or unit) you’re considering in compliance with the HOA’s CC&Rs? If you’re considering an offer on a problematic property, understand a real hassle may follow.

 

If you like the idea of a group of neighbors who set community or building standards, a residence with an HOA may be for you. But if not, don’t worry! There are lots of other homes out there. Get in touch today: 910-352-0998.

 

Your Weekly Real Estate Report is provided by Justin Donaton of Coastwalk Real Estate. Any data provided, unless otherwise noted, is courtesy of the Wilmington Association of REALTORS MLS and/or the National Association of REALTORS.

 

Justin does not just "list" properties, he sells them! To get your home SOLD for the highest possible price, call Justin at 910-352-0998. Justin has been the TOP SELLING real estate agent on Pleasure Island since 2007. He has the highest dollar volume of sales, and has had the most number of closings. His business is built on hard work and high-impact marketing. Coastwalk Real Estate is also a TOP SELLING real estate firm in Carolina & Kure Beach. Please visit:  www.CoastwalkRealEstate.com for more info.

 

 

Dec. 3, 2016

November thoughts for Wilmington

I have been in the business for 11 years, and this is the most fun I’ve had since I started. It’s fun to see our clients enjoying the process as well.

 

2016 is turning into another record year for real estate (and for Coastwalk Real Estate).  It’s an exciting time as clients are selling their homes at prices we have not seen for the past 10 years.  At the same time we’re meeting such wonderful new friends who are moving to the island full time, or purchasing a second home at the beach!

 

We still have a lot of work to do in 2016, but we are beginning to plan for an even greater 2017.

 

We have a ton of top-notch marketing including advertising on 50+ of the top websites available. We’re holding open houses, broker opens, and marketing our listings to over 50,000 agents across North Carolina. As a result, we’re finding lots of buyers for our listings.

 

Clients receive feedback reports on all showings, and a weekly email summarizing online activity and exposure.

 

The Coastwalk Moving Truck has been used by 70+ customers and clients this year.

 

Our social media presence is as good as it gets, with tons of exposure on Facebook, Google+, Instagram, Twitter, Pinterest and LinkedIn. We have incorporated aerial photography and short videos into the mix.

 

And most importantly, we’re educating buyers on the benefits of living on the Island. We provide clients with local school information (Carolina Beach Elementary is the best!), resources for community clubs and organizations, social opportunities, event schedules, outdoor activities, taxes rates, insurance rates and more!

 

In 2016, we rolled out our in-house home staging service. Our interior designer is available to help stage your home for optimal presentation. The feedback we’ve received on this is tremendous! This helps us sell more homes and for a better price!

 

In January, we’ll be rolling out the Wilmington Real Estate app, which will be one of the best real estate apps available (we think better than Zillow)! You’ll be able to follow new listings, homes for sale in your neighborhood, and track properties that have recently sold, those that have gone pending, and more!

 

While some market segments and price points are hotter than others, in general it’s a strong housing market in Carolina and Kure Beach. With low interest rates and relatively low inventory, we remain very optimistic for 2017.

 

I am so grateful for my clients, new and old, for allowing me to be of service. I am so grateful for the referrals they provide, as this is the cornerstone of my business.

 

I would like to close by sharing a few recent recommendations from clients whose homes I have sold over the past month or so. If you are looking for an agent in 2017, I would love the opportunity to earn your business. Please call my cell anytime at 910-352-0998!

 

Justin Donaton did a great job in selling our house on Carolina Beach. He has great local knowledge and was very helpful in getting started properly. He was responsive and very sensitive to our suggestions and requests. His experience was a big factor in a successful sale.” – Ed Altiere

 

“Justin Donaton is very professional in handling the marketing and sale of my property. He showed a keen awareness of market values as well as the current market trends. His marketing expertise was realized in his ability to match a buyer for my property. Justin listed and sold my property with in 30 days of listing. I highly recommend Justin.” – Jim Vatrt

 

Justin is the BEST in the community and local real estate market!!!! He is incredibly easy to work with and has his client's best interest at heart. He gives good advice and can be trusted to help you make good decisions. I would recommend Justin unconditionally!!!!” – Mary Deaton

 

“Justin was very responsive and easy to deal with. Property sold in 3 days. Handled everything that needed to be done in a quick and professional manner. I will use him on my next purchase or sale.” – Laird

Nov. 3, 2016

Coastwalk Real Estate - 28 Steps

This week, we wanted to share Coastwalk Real Estate’s 28 Step Home Marketing Plan. While specific marketing can vary based your home and the services you’ve selected, this is a good snapshot of how we can do to sell your home quickly, and for the best possible price.

As a result….

Coastwalk Real Estate had the highest sales-to-agent ratio on Pleasure Island, and the second highest sales-to-agent ratio in New Hanover County (source: Wilmington MLS sales for firms with 10+ agents over 1 year period thru 10-8-15).

In summary, our company objectives are:

 

1.     To expose your home to the maximum number of interested and capable buyers;

2.     To educate all interested prospects on the unique features and lifestyle benefits your home offers;

3.     To help you get the highest possible sales price for your home;

4.     To make the listing and sales process easy, convenient, and problem-free for you;

5.     To educate and assist you in the most effective ways to present your home for the greatest buyer impression;

 

Our marketing plan elements can include: 

 

1.     Submit your home listing for exposure to over 4,000 active agents in the Multiple Listing Service system. 

2.     Present copies of your home listing to 25 of our company's active agents who, each day, work with interested and capable buyers;

3.     Present you with professional advice on presenting your home to show exceptionally well, and sell for the greatest possible price; 

4.     To promote your home in at least 30 company-sponsored national real estate web sites; 

6.     Create a custom publicity flyers about your home for personal distribution to each active agent in the community;

7.     Promote your home on our community REALTOR tour schedule to be examined by over 4,000 active agents;

8.     Create a custom flyer of features and lifestyle benefits of your home for use by cooperating agents showing your home;

9.     Create a custom "listing book" to be placed in your home for buyers to reference home features, lot, utility, and tax information, neighborhood benefits, schools, shopping, medical, and other buyer benefits;

10.  Promote your home on our company-exclusive "top 250 selling agent's" personalized emailing list; 

11.  Maximize showing exposure through professional signage;

12.  Enhance convenience of buyer viewing by placing home on a lockbox (with security);

13.  Promote your home to the public through Open Houses;

14.  Promote your home by distributing flyers, brochures, and making personal announcements at real estate board meetings;

15.  Educate you and potential buyers on the numerous methods of financing the purchase of your home;

16.  Suggest constructive changes to your home to make it more appealing, and a sale more likely, to interested buyers;

17.  Send a personalized mailer to residents in your neighborhood promoting the features and lifestyle benefits of your home;

18.  Personally speak with neighbors about your home, neighborhood benefits, and their knowledge of potential buyers;

19.  Keep you educated and up-to-date on listing and selling market conditions in your area;

20.  Update you on all activity regarding your home: agent showings, open house attendance, agent tours, sign inquiries, etc.

21.  Promote your home through Agent Referral Marketing Partnerships.

22.  Place your home on Craigslist 3x a week;

23.  Track all home showing agents and public using special sign-in sheets;

24.  Follow-up on all agents who have shown your home to answer questions, and further motivate buyer interest;

25.  Ensure that any offers from buyers are pre-qualified and capable of closing on the purchase;

26.  Represent you in contract negotiations with buyers to help generate the highest selling price for the home;

27.  Coordinate escrow, financing, and closing activities on your behalf to ensure a smooth, hassle-free closing;

28.  Personally deliver your proceeds check at closing of your home.

 

If you are interested in more information, or if you would like to know the value of your home today, please call the office at 910-458-9119, or your Coastwalk Agent today! Walk-in’s are also welcome!

 

Nov. 3, 2016

Buying if you are Self Employed

The so-called “gig” economy means more people than ever are self-employed, receiving 1099 tax forms as independent contractors. In the world of the self-employed, the idea of securing a mortgage can seem like a fantasy. Unlike the traditionally employed, the self-employed entrepreneur is seen as a greater risk. Despite making a good living, some self-employed workers never even apply for a mortgage, believing the dream of home ownership is cut off by slim chances for approval.

 

This isn’t necessarily true! Don’t give up on home ownership, or buying a vacation home just because you’re self-employed. Instead, take the steps to boost your status in the eyes of lenders. Here are some tips to put you on the path towards pre-approval:

 

1. Lower your debt. Debt is what haunts almost all new buyers seeking a loan. If you’re self-employed and debt-free, or have a low income-to-debt ratio, you look much more appealing to lenders.

 

2. Keep your personal and business accounts separate. Professionals draw a line between business income and expenses and personal income and expenses. Demonstrating this level of maturity is a plus.

 

3. Deduct less on your taxes. The self-employed are almost always guilty of taking tax deductions which cast a little shade on their mortgage application. Take honest, documented deductions, and don’t make it look like you’re desperate to cook the books!

 

4. Register and pay yourself like a pro. Make sure your business is licensed and registered and, if possible, setup your business structure to pay you on a W-2 form rather than declaring your income as 100% 1099.

 

5. Document everything. Make no claim without paper (or verifiable digital records) to back it up. Check stubs from clients, proof of income, expenses… everything. The more thorough and organized your documentation, the better you look to the lender reviewing your file. 

 

It can also be useful to make a larger down payment than most, but lenders understand this can be difficult. You may be eligible to use your IRA or even an old 401(k) to boost your down payment, but talk to your tax professional before you make any moves.

 

Don’t let self-employment cloud your view of securing that mortgage. It is possible! I’d be happy to put you in touch with lenders when the time comes: Give me a shout or text at 910-352-0998, or email justin@coastwalkrealestate.com.

 

Expect Results:

 

Your Weekly Real Estate Report is provided by Justin Donaton of Coastwalk Real Estate. Any data provided, unless otherwise noted, is courtesy of the Wilmington Association of REALTORS MLS and/or the National Association of REALTORS.

 

Justin does not just "list" properties, he sells them! To get your home SOLD for the highest possible price, call Justin at 910-352-0998. Justin has been the TOP SELLING real estate agent on Pleasure Island since 2007. He has the highest dollar volume of sales, and has had the most number of closings. His business is built on hard work and high-impact marketing. Coastwalk Real Estate is also a TOP SELLING real estate firm in Carolina & Kure Beach. Please visit:  www.CoastwalkRealEstate.com for more info.

 

Nov. 3, 2016

Expired Listings

Everyone says selling your home is one of life’s great emotional rollercoasters. From making the leap to moving day, the process is one of surprises, anticipation, and (hopefully) celebration.  But what happens if your home doesn’t sell?

 

If your home’s been on the market for the length of your contract with your real estate agent and it hasn’t sold, your home is on its way to becoming “an expired listing.” At this point you have to make a choice whether to continue with your agent, find a new agent, or delay your dreams and take your home off the market. Still, the sting of the experience lingers. How do you move on from an expired listing? Here are some tips to learn and even grow from the experience:

 

1. Admit it happened and acknowledge it’s not uncommon. It can be tough to tell people that your home didn’t sell. But you’re not alone. It happens often and it happens for a variety of reasons. Many factors influence this, but if you’re going to make your next move, you have to be open to learning what you can from the heartbreak.

 

2. Look for lessons, but avoid blame. The number one reason homes don’t sell is a failure to price accurately. This isn’t your fault and it isn’t your agent’s fault… it’s a shared responsibility. Did you feel a price was one you “had to get”? Did your agent fail to present a compelling case for an accurate price? Were there other factors besides price you should consider as part of the whole package?

 

3. Abandon worrying about what is beyond your control. If you’re selling in a buyer’s market, there’s nothing you can do about it. If the market crashes, or they discover pesticides in your neighborhood’s aquifer and values plummet, you aren’t responsible and shouldn’t feel the burden of guilt or anxiety. It’s not easy, but sort through what’s truly not your fault and try to distance yourself from those factors.

 

4. Decide on what you can do next. Review your agent’s approach to selling and your comfort with the relationship. Was there enough communication? Do you feel the home was marketed to the standards of the market? Did you do all you could to make the house welcoming to buyers? Were there curb appeal issues you might want to resolve? Do you want to try again, or should you take a break?

 

5. Act on next steps. Decide if you’d like to keep your agent or find a new one. If you move on, take your lessons with you, but don’t demonize the past. Accept, forgive, and get back to the dream!

 

Listing expire? I can help: Give me a shout or text at 910-352-0998, or email justin@coastwalkrealestate.com.

 

Expect Results:

 

Your Weekly Real Estate Report is provided by Justin Donaton of Coastwalk Real Estate. Any data provided, unless otherwise noted, is courtesy of the Wilmington Association of REALTORS MLS and/or the National Association of REALTORS.

 

Justin does not just "list" properties, he sells them! To get your home SOLD for the highest possible price, call Justin at 910-352-0998. Justin has been the TOP SELLING real estate agent on Pleasure Island since 2007. He has the highest dollar volume of sales, and has had the most number of closings. His business is built on hard work and high-impact marketing. Coastwalk Real Estate is also a TOP SELLING real estate firm in Carolina & Kure Beach. Please visit:  www.CoastwalkRealEstate.com for more info.