Four Ways Home Sellers Can Respond To A Purchase Offer

Wilmington NC real estateWhen a home is for sale, a homebuyer who wants to purchase the property will submit a purchase offer to the seller. The offer is valid for a specified amount of time.

Sellers can do one of four things with the contract:

1. Accept contract as-is.

The seller agrees to the offered price and terms and signs the contract. Next step is for buyer to proceed to get closed/settled on home (arrange inspections, finalize financing, etc.).

2. Counter contract with different price, terms, conditions.

Most often, sellers may take issue with the price and/or terms or conditions offered. To keep the negotiation going, sellers may counter on any part of the contract. Buyers should be prepared to accept the counteroffer or continue negotiating.

3. Reject contract in its entirety.

It’s possible that the purchase offer is too unrealistic (too low of a price offered, unrealistic terms, etc.) and the seller will choose to not counteroffer. Ensure that there is open communication between the real estate professionals representing each side to resurrect negotiations or submit a new, revised purchase offer based on seller feedback.

4. Let the contract expire.

Very rarely would a motivated seller allow a contract to expire. Again, make sure the lines of communication are clear between the real estate professionals involved if this appears likely.

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Do You Know How to Do Your Own Pre-Purchase Inspection? | Wilmington NC real estate

Buying your first – or any – home means taking a cool look at what you’re about to invest in. Here are four major items to check out before you write your check.House with magnifying glass

  • Sills, beams.
      • Possible defect: Rot caused by moisture or boring insects.
      • Check method: Poke wood with knife for spongy spots, especially near the foundation. Request certification of most recent termite inspection.
  • Windows and Doors.
      • Possible defect: Sticking, poor weather stripping.
      • Check method: Try all openings and note kind and condition of weather stripping.
  • Plumbing.
      • Possible defect: Aging, leaking pipes; inadequate water heater or water pressure.
      • Check method: Note kind of pipe (copper is best); compare heater’s capacity with family needs; try faucets while flushing for steady faucet flow.
  • Electricity.
    • Possible defects: Insufficient voltage; too few outlets.
    • Check method: Compare number of amps to appliance requirements; count outlets.

Our professional staff is waiting to help you find the home of your dreams. Call or e-mail us to find out more.

Brilliant Colors at Wrightsville Beach This Weekend | 6th Annual Cape Fear Kite Festival

kite2 copy

Join us for a fabulous display of arty and whimsical kites November 8 & 9 at Shell Island Resort on the beach.  ( Do not miss the 6th Annual Cape Fear Kite Festival.  A brilliant show of color in the sky at beautiful Wrightsville Beach NC.  Event runs from 10:00 – 4:00 PM both days. If you see any real estate that you are interested, you can look it up on your phone at  Enjoy!

What are the essential steps every first-time buyer should know?

KeyIf you think it’s about time you bought a home instead of renting, a little homework before you start looking will increase your odds of finding the best buy for you. First, you must educate yourself about the home buying process. You can take a class or pick up books from your local library. Also be sure to read the real estate sections of your newspaper to familiarize yourself with properties and prices in your area. Consumer magazines that focus on the home can also be a good source of information.

Here are some things you will want to do:

  • Separate needs from wants

      What are your priorities for your next home? How important are public transportation, community facilities, on-street parking, lot size, privacy? How many bedrooms and baths will you need? Will you need a space for a home office? How important are quality neighborhood schools?

  • Investigate neighborhood prices

      What neighborhoods feature homes in your price range? Are there areas you may have overlooked? With the help of a trusted real estate agent, you may discover neighborhoods and home types you may not have considered. We’ll introduce you to a wide range of possibilities and help you find the home that best suits your needs.

  • Determine how much house you can afford

      It’s tough to home shop if you don’t know what you can afford. Together with a reputable lender, we can help you determine how much home you can afford and which loan program will maximize your buying power. Also, by getting pre-approved for a loan before you start looking for your first home, you’ll be a better prospect in the seller’s eyes.

  • Shop for the best loan

      Which type of loan is best for you? Will you be in the house several years and benefit most from a long-term fixed rate, or do you want a lower, short-term rate because you plan to move soon or expect your income to increase rapidly over the next few years? You may want to interview several lenders to learn about the many mortgages available.

  • Check out interest rates

      What are current local mortgage interest rates for 15-year and 30-year fixed rate mortgages, and for 1-, 3- and 5-year adjustable rate mortgages?

  • Dig up your down payment

      Know where your down payment cash will come from. If it’s coming from stocks, go ahead and sell them. If Aunt Mabel is loaning you the money, get it in hand so you are ready to go.

  • Relax and let an experienced real estate agent to help you through the process

    Buying your first home can be an overwhelming experience, but, with the help of a professional real estate agent, you can easily manage the process and confidently close the deal.

Chances are you can answer a couple of these questions on your own, but you may need some assistance with others. If you do, please call or e-mail us. We can make sure you have the preliminary house-hunting information you need.

2013 in review | Wilmington NC Real Estate Blog

The stats helper monkeys prepared a 2013 annual report for this blog.

Here’s an excerpt:

A New York City subway train holds 1,200 people. This blog was viewed about 4,900 times in 2013. If it were a NYC subway train, it would take about 4 trips to carry that many people.

Click here to see the complete report.

INSPECTING YOUR HOME | How will a home inspection benefit me?

The purchase of a home is the single most costly investment most people make, and you want to know what you are getting for your hard earned money. Inspections are a great way for home buyers to assure themselves that the home they are buying is in good condition.

A real estate agent will not determine the condition of the property. It is your responsibility, as a buyer, to ascertain the condition of the property. A licensed, professional inspector is best qualified to make an unbiased and objective evaluation of the functionality of each item or if it is in need of repair. The seller is not required to repair any items, but in the event he/she chooses not to, then the buyer may terminate.

What will the inspection cover?

An inspection will usually cover, at a minimum, those items specifically mentioned on the offer to purchase and contract. However, the inspector will not limit himself to those items.  Read rest of story here….

Kure Beach NC | Sales Up But Inventory Low

Now might be a good time to sell your Kure Beach home.  The  number of sold homes rose from July to August 2013.  The inventory is low, which will help your chances of selling in this market.  To search all Kure Beach Listings, please visit



  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Aug. 13 Jul. 13 % Change Aug. 13 Aug. 12 % Change Jun. 13 to Aug. 13 Jun. 12 to Aug. 12 % Change
For Sale 87 90 -3.3%  87 99 -12.1%  89 98 -9.2% 
Sold 9 5 80%  9 7 28.6%  9 5 80% 
Pended 3 9 -66.7%  3 10 -70%  6 7 -14.3% 
Date 6/12 7/12 8/12 9/12 10/12 11/12 12/12 1/13 2/13 3/13 4/13 5/13 6/13 7/13 8/13
For Sale 99 97 99 87 0 77 81 82 80 96 96 96 90 90 87
New Listing 7 15 17 6 9 12 7 9 10 27 15 11 10 13 9
Sold 3 6 7 9 6 6 9 2 4 8 8 10 12 5 9
Pended 5 6 10 6 4 10 5 2 9 5 15 6 6 9 3
Months of Inventory (Closed Sales) 33 16.2 14.1 9.7 0 12.8 9 41 20 12 12 9.6 7.5 18 9.7
Months of Inventory (Pended Sales) 19.8 16.2 9.9 14.5 0 7.7 16.2 41 8.9 19.2 6.4 16 15 10 29
Absorption Rate (Closed Sales) % 3 6.2 7.1 10.3 0 7.8 11.1 2.4 5 8.3 8.3 10.4 13.3 5.6 10.3
Absorption Rate (Pended Sales) % 5.1 6.2 10.1 6.9 0 13 6.2 2.4 11.3 5.2 15.6 6.3 6.7 10 3.4
Avg. Active Price 466 474 488 499 0 486 506 520 507 503 505 501 484 490 477
Avg. Sold Price 275 325 212 310 382 400 369 400 281 485 492 349 313 355 291
Avg. Sq. Ft. Price 173 167 186 177 207 195 187 181 172 204 192 195 194 157 187
Sold/List Diff. % 95 100 88 92 97 83 96 95 98 94 97 96 97 97 95
Sold/Orig LP Diff. % 94 98 87 87 96 79 91 92 97 91 95 90 94 91 93
Days on Market 50 119 122 199 216 222 171 104 82 119 170 241 138 102 169
Avg CDOM 156 119 122 199 216 139 191 194 82 126 170 230 138 102 189
Median 283 269 190 235 350 318 285 400 261 344 348 345 333 275 250
Table Information

17th Annual Lumina Daze | Wrightsville Beach NC real estate

lumina wrigthsville beach
Lumina Daze at Wrightsville Beach

17th Lumina Daze

Sunday, August 25, 2013

Blockade Runner Beach Resort

Wilmington Big Band, Dixieland All-Stars, 
The Imitations

From the Wrightsville Beach Museum website:

Click here for 2013 EVENT SCHEDULE

Live auction in addition to the popular Silent Auction.  Live Auction Items Include:

    • Historic Downtown Package – 4 trolley passes, 4 Historic House Museum 3-House passes, an item from the gift shop from each of the 3 houses.
    • Marine Max – boat cruise for an evening
    • Shrimperoo for up to 25:  Courtesy of Lackey Builders, Inc., DC North, Middle of the Island Catering, and Greenville Loop Seafood
    • Painting by Betty Brown
    • Jamis Earth Beach Cruiser Bike
    • Kingoff’s Jewelers – diamond bezel pendant, 14K white gold
    • Stand Up Paddleboard and Paddle
    • Recognition / Memorial Plank in Wrightsville Beach Museum Boardwalk

Silent auction items include:

    • Airlie Gardens – “Summer Fun for Four” includes cooler, blanket, 4 coozies and 4 tickets to one concert in the Airlie Concert Series or admissions to the Gardens
    • Harbor Island Garden Club Harbor Way Gardens Pathway Brick and a HIGC Cookbook
    • Motts Channel Seafood gift basket – gift certificate, t-shirt, cheese grits, cocktail sauce, seafood breading.
    • LM Restaurants gift certificates, t-shirts, canvas bags, coozies, key rings
    • Bill Creasy – photo of Harbor Island, circa 1929
    • Las Olas Mexi-Q Grill gift certificate
    • One Hour Tennis Lesson – with Charlie Owens
    • Necklace by Kay Morgan
    • Two tickets to Wrightsville Beach Scenic Tour Sunset Cruise
    • “Day at the Beach” photo art by Mike Bryand
    • Green Goddess Essentials Basket from Green Goddess Essentials
    • Taste of Wrightsville Beach  – two passes, from Wrightsville Beach Foundation
    • Gift Certificate from Great Outdoor Provision Company
    • Four Personal Training Sessions with Shay Duval – “A Body to Live For”
    • Four Guest passes to the Children’s Museum of Wilmington
    • Three full-day passes for Deep Sea Fishing on “Vonda Kay”
    • Gift Certificate and Dog Treats from Unleashed – the dog and cat store
    • Men’s Seiko Divers Watch
    • Lady’s Seiko Divers Watch
    • Handmade Sterling Silver and Inlaid Opal Surfboard Pendant with Chain
    • Handmade Sterling Silver and Inlaid Opal Dolphin Pendant with Neck Wire
    • Sterling/Gold Mahdi pendant with chain
    • Greenville Loop Seafood Gift Certificate
    • Personal Chef for an evening meal
    • Lovey’s Natural Foods and Cafe Gift Basket

Have a Non Profit in the South and in need of a grant? Apply Here

To All Southern Communities – Need a grant to help your Non-Profit?  FSC might be able to help.  Deadline for grant submission is Sept. 6, 2013.  Applications below.  Full website here.

What We Do

The Fund for Southern Communities (FSC or The Fund) provides the financial resource to help move groups from thought to action. FSC supports small community groups working for environmental justice, anti-racism, women’s rights, youthdevelopment, LGBTQ rights, worker’s rights, civil rights and disability rights and other varied issues that address social change through community organizing. Grantees not only benefit from financial support, but they are also given technical assistance.
FSC is unusual in that it awards grants to community organizations that are working to address the systems and structures that cause community problems. Often traditional charities and private foundations overlook these organizations because their projects are considered too new, the organization too small, or their objectives are too controversial. The Fund is willing to make grants to these groups and organizations because we believe that communities working on their own behalf are powerful forces for change.
2013 Grant Cycle deadline: The September 6th, 2013. Click here to be added to our email distribution list.

To get the Grant Application and Guidelines, Click here.

To get a copy of our Progress Report form, Click here.



High Impact | Remodel On A Budget With New Flooring | Wilmington NC Real Estate

More Homeowner Tips –

Wilmington NC Homeowners have more choices than ever in floor coverings. Today’s choices can go a long way toward redecorating a home without spending a fortune. Upgrading flooring is a good option to choose now, while you’re living in your home. It’s also likely to pay off later, when the time comes to sell.

New innovations have enabled homeowners to use flooring as a way to decorate rather than just “cushion and cover.” Despite the ongoing popularity and utility of carpeting, the use of hard surfaces has been on the rise, with stone, tile and wood leading the way. Hard-surface flooring can not only add visual appeal, it can improve indoor air quality (especially for allergy sufferers) by minimizing accumulations of dust, mold, mildew and bacteria–often more common with carpeted interiors.

There are also more types of hardwoods on the market now–bamboo is the newest–that come in a variety of shades, widths and grains. You can use wood to give your home a look of richness, elegance or country-casual feel.

Natural stone–granite, marble, travertine, limestone and slate–is more sought after these days. And one of the fastest growing “hard” coverings of choice, laminate flooring offers good looks, durability and easy installation. It comes in planks and tiles, with a range of patterns modeled on hardwoods, ceramic tile, marble and stone.

If you’re looking for a dramatic change in your home, consider replacing or recovering your floors. You may be surprised how inexpensively you can add drama to a room. Give us a call to find out how much value it could add to your home!

If you would like discount coupons to Lowe’s Hardware let us know by email.