Five Ways to Improve Your Credit Score

1. Know Your Numbers!

One of the best ways to improve your credit is to be aware of your credit score! Several websites, apps, and even certain credit card companies will provide free credit information. Here are some of our favorite resources for checking credit scores:

Mint
Mint is a free app that allows you to monitor your balance and transactions on debit and credit cards and provides your credit score through Equifax. Plus, it has bill reminders and high spending alerts so you can stay up to date on payment deadlines and your money flow.

AnnualCreditReport.com
Annual Credit Report provides a free copy of your credit report every 12 months from each credit reporting company, Equifax, Experian and TransUnion, so you can get a complete look at your credit.

CreditKarma.com
You probably know CreditKarma from one of their many commercials, but Credit Karma does allow you access to your free Equifax and TransUnion credit score and also features several handy financial tools. Once you check your score, you can sign up for email alerts when your credit score has been updated. The site also allows you to set financial goals and will show you how long it will take to pay off your debt with their debt repayment calculator.

Five Ways to Improve Your Credit Score

2. Pay Your Bills on Time.

Paying on time is one of the most important factors of good credit. Late payments and collections often have a negative impact on your credit score. A great way to stay on top of your payment due dates is by setting up calendar alerts ahead of time! It may also be helpful to get emailed statements and bill reminders from your credit card company.

3. Don’t Let Your Balance Get Too High.
High outstanding debt can obstruct a good credit score. Usually a credit card balance over 35% of your limit can begin to hurt your credit score. Be mindful if you’ve racked up some high charges and work to pay off high debt as quickly as possible. It’s also important to pay off your debt rather than move it around. If you have a large balance, make a game plan for paying it off.

Five Ways to Improve Your Credit Score

4. Avoid Applying for and Opening Too Many Accounts.
Applying for or opening too many accounts may negatively impact your credit score. If you have been managing credit for only a short amount of time, don’t rush to open more credit accounts. Only apply for the credit you need and don’t take on more than you can handle. If you’re unsure about what to do, speak with a customer service representative or a financial advisor.

5. Don’t Stop Using Your Credit.
If you have a low credit score, you may be afraid of continuing to use your credit card. However, it is important to work to improve your credit score and show lenders that you are responsible. Just remember to be aware of your spending and to stay on top of your payments.

Consider This Before Choosing a Home!

It’s easy to be dazzled by a beautiful home. The granite, the built-ins, the garden tub with steam jets and rainfall shower head that plays jazz while surrounding you with the gentle fragrance of freshly pressed lavender!

Before you race to the seller with a check in hand to make that home yours, be sure to take the following into consideration:

1. Get to know the community! Local and online newspapers are a great way to learn about the area and events that keep the community engaged. Also, drive through the neighborhood at different times of the day to get a feel for the activity ebb and flow.
2. Take note of all of the amenities nearby including shops, parks, bike trails, community pools, etc.
3. Compute the commute. Try a test run of your commute from your future home. You want a clear picture of what the usual drive is like.
4. Account for additional expenses. Check for home owners association dues, supplemental taxes and any other fees associated with your new home.
5. Check out the schools! A great school district may improve the value of your home, even if you don’t have children.
6. Most importantly, find a reliable realtor who can help you find your dream home!

What other things do you think are important to know before choosing a home and making an offer?

Wonderful Wilmington- March 2015

Finding the Perfect Tenant

One of the most important decisions to be made when you’ve decided to rent out a home is determining who you should sign a lease with. You have so many options available to you for finding a tenant, but you don’t know what signs to look for that will indicate who the best applicant is once the replies come rolling in. And when you receive a lot of interest, how do you choose one candidate over another? It’s easy to become overwhelmed!

Having a seasoned property manager on your side makes this process so much easier on you. They have the experience and tools necessary to help identify who is going to be a good tenant and help to actively protect your investment. They also have a good “eye” for any red flags.

What a good property manager will ask about and look for in an applicant:

Good credit- Pulling a credit report shows that bills are paid on time and the applicant is financially responsible. Property managers have ready access to reports from the credit bureaus to verify this information and get the complete picture of an individual’s credit score and history.

Good rental history- We cannot stress enough about the importance of contacting previous landlords. Verify that legitimate references have been provided. Ask questions. Why are they moving? Was the property left in good shape when they vacated? Did they have any pets (it’s not unusual for an applicant to avoid mentioning they have a pet if they’re worried that it may put them out of the running or to avoid any pet fee) and were they responsible pet owners? Did the applicant have multiple, if any, HOA violations? Verify that they have a good track record with landlords and neighbors. Most importantly, there must be no evictions on their record. Ever!

Income- Showing that a tenant can supply steady, reliable income is a pretty good indicator that rent will be paid on time and that they can handle future demands on their cash flow. Require that proof of income be supplied with the application.

These tips are just the “tip of the iceberg” when you’re looking for the perfect tenant.

Real Estate 2015: Looking Back to See Ahead into 2015’s Market

These statistics below compiled from our local MLS indicate steady improvement in all locations of our thriving Cape Fear area. If you are thinking of selling this year give us call so we can tailor a plan for your real estate. It is still a great year to purchase an investment property – which remains the best return on your investment dollar by most everyone’s standards. Contact us to learn more about investing in our local real estate. We have successfully helped many clients start and increase their portfolios.

By Sherri Pickard, GRI, SFR, CDPE
2015 President, Wilmington Regional Association of Realtors

WILMINGTON, N.C. (January 16, 2015) – When analyzing eleven major zip codes in our region – 28401, 28403, 28405, 28409, 28411, 28412, 28451, 28480, 28428, 28449, and 28443 – an average of the zip codes shows for the year-end of 2014:

• Our average sales price has increased by 4.6% from year-end 2013.
• Of the 5,000 sellers in 2014 – 34.0% paid some sort of concession toward the purchase of the house.
• Our list to sales price ratio for year-end is 96.20%, a decrease from 96.37% for year-end 2013.
• The average list price of the sold properties is $273,531 and is up 4.8% from year-end 2013.
• The average number of days a property remained on the market for the year was 119 days, compared to 121 days for year-end 2013.
• The median sold price of $217,250 for year-end has increased 8.6% from year-end 2013.

The areas of focus in this analysis were:
• Selling Price – The price the seller accepts for his or her house.
• Sellers Concessions – The amount of money a seller of a house contributes toward the buyers purchase.
• List to Sales Price Ratio – The difference between the list price and the selling price shown as a percentage.
• Days on Market – The number of days a house remains for sale, from the listing date to the date the property is placed under contract.
• List Price – The amount of money a home is listed on the market.
• Median Price – The middle price of all the properties sold in the given time period.

28401
• The average selling price of $132,649 has decreased 2.4% from year-end 2013 average selling price of $135,949.
• 27% of sellers paid a concession in 2014 compared to 24% for year-end 2013.
• The average list price of $142,103 has decreased 1.7% from year-end 2013 average list price of $144,594.
• The average number of days a property remained on the market for 2014 was 140 days compared to 138 days for year-end 2013.
• The median sold price of $110,000 for Year-end has increased 11.1% from year-end 2013.
• Sold homes in 2014 received 93.3% of the asking price, a decrease from 94.02% for year-end 2013.

28403
• The average selling price of $212,842 has increased 4.3% from year-end 2013 average selling price of $204,046.
• 28% of sellers paid a concession in 2014 compared to 25% for year-end 2013.
• The average list price of $224,222 has increased 5.2% from year-end 2013 average list price of $213,052.
• The average number of days a property remained on the market for 2014 was 124 days compared to 116 days for year-end 2013.
• The median sold price of $174,500 for Year-end has increased 1.5% from year-end 2013.
• Sold homes in 2014 received 94.9% of the asking price, a decrease from 95.7% for year-end 2013.

28405
• The average selling price of $300,789 has increased 2.5% from year-end 2013 average selling price of $293,443.
• 30% of sellers in 2014 paid a concession compared to 23% for year-end 2013.
• The average list price of $314,652 for 2014 has increased 2.4% from year-end 2013 average list price of $307,332.
• The average number of days a property remained on the market for 2014 was 120 days compared to 141 days for year-end 2013.
• The median sold price of $195,000 for 2014 has increased 5.4% from year-end 2013.
• Sold homes in 2014 received 95.5% of the asking price, an increase from 95.4% for year-end 2013.

28409
• The average selling price of $308,567 has increased 8.6% from year-end 2013 average selling price of $284,192.
• 39% of sellers in 2014 paid a concession compared to 26% for year-end 2013.
• The average list price of $318,635 for 2014 has increased 8.6% over year-end 2013 average list price of $293,510.
• The average number of days a property remained on the market for 2014 was 116 days compared to 102 days for year-end 2013.
• The median sold price of $265,540 for 2014 has increased 12.0% from year-end 2013.
• Sold homes in 2014 received 96.8% of the asking price, it matched 96.8% from year-end 2013.

28411
• The average selling price of $289,741 has increased 4.0% from year-end 2013 average selling price of $278,466.
• 40% of sellers in 2014 paid a concession compared to 33% in year-end 2013.
• The average list price of $303,654 for 2014 has increased 4.9% over year-end 2013 average list price of $289,562.
• The average number of days a property remained on the market for 2014 was 107 days compared to 111 days for year-end 2013.
• The median sold price of $224,950 for 2014 has increased by 4.7% from year-end 2013.
• Sold homes in 2014 received 95.4% of the asking price, a decrease from 96.1% for year-end 2013.

28412
• The average selling price of $196,712 has increased 2.1% over year-end 2013 average selling price of $192,753.
• 41% of sellers in 2014 paid a concession compared to 28% for year-end 2013.
• The average list price of $200,864 for 2014 has increased 2.1% over year-end 2013 average list price of $196,661.
• The average number of days a property remained on the market for 2014 was 95 days compared to 91 days for year-end 2013. The best of all zip codes.
• The median sold price of $174,000 for 2014 has increased 4.6% from year-end 2013.
• Sold homes in 2014 received 97.9% of the asking price, a decrease from 98.0% for year-end 2013.

28451
• The average selling price of $224,523 has increased 9.1% from year-end 2013 average selling price of $205,798.
• 34% of sellers in 2014 paid a concession compared to 26% for year-end 2013.
• The average list price of $226,889 for 2014 has increased 8.6% over year-end 2013 average list price of $208,981.
• The average number of days a property remained on the market for 2014 was 117 days compared to 114 days for year-end 2013.
• The median sold price of $210,000 for 2014 has increased 16.7% from year-end 2013. The best of all zip codes.
• Sold homes in 2014 received 98.9% of the asking price, an increase from 98.4% for year-end 2013. The best of all zip codes.

28480
• The average selling price of $743,370 has increased 2.2% from year-end 2013 average selling price of $727,210.
• 9% of sellers in 2014 paid a concession compared to 8% in year-end 2013. The best of all zip codes.
• The average list price of $810,215 for 2014 has increased 1.4% over year-end 2013 average list price of $799,085.
• The average number of days a property remained on the market for 2014 was 182 days compared to 254 days for year-end 2013.
• The median sold price of $700,000 for 2014 has increased 8.5% from year-end 2013.
• Sold homes in 2014 received 91.7% of the asking price, an increase from 91.0% for year-end 2013.

28428
• The average selling price of $261,366 has increased .3% from year-end 2013 average selling price of $260,637.
• 20% of sellers in 2014 paid a concession compared to 18% for year-end 2013.
• The average list price of $272,238 for 2014 has increased 2.6% over year-end 2013 average list price of $270,732.
• The average number of days a property remained on the market for 2014 was 145 days compared to 180 days for year-end 2013.
• The median sold price of $233,500 for 2014 has decreased 2.7% from year-end 2013.
• Sold homes in 2014 received 96.0% of the asking price, a decrease from 96.2% for year-end 2013.

28449
• The average selling price of $374,272 has increased 1.8% over year-end 2013 average selling price of $367,716.
• 10% of sellers in 2014 paid a concession compared to 8% for year-end 2013.
• The average list price of $390,656 for 2014 has increased 1.9% over year-end 2013 average list price of $383,544.
• The average number of days a property remained on the market for 2014 was 150 days compared to 175 days for year-end 2013.
• The median sold price of $328,250 for 2014 has increased 9.4% from year-end 2013.
• Sold homes in 2014 received 95.8% of the asking price, it matched 95.8% for year-end 2013.

28443
• The average selling price of $259,299 has increased 10.5% over year-end 2013 average selling price of $234,613. The best of all zip codes.
• 41% of sellers in 2014 paid a concession compared to 38% for year-end 2013.
• The average list price of $267,989 for 2014 has increased 11.5% over year-end 2013 average list price of $240,303. The best of all zip codes.
• The average number of days a property remained on the market for 2014 was 132 days compared to 120 days for year-end 2013.
• The median sold price of $240,000 for 2014 has increased 6.7% from year-end 2013.
• Sold homes in 2014 received 96.7% of the asking price, a decrease from 97.6% for year-end 2013.

Ten out of eleven zip codes reported an increase in the average sales price. Eight out of eleven zip codes have the List to Sales price ratio above 95%. Sellers are getting closer to their asking price, which is a good sign that real estate is continuing to improve.

http://www.wrar.com/87-consumers-site-category/buyers-and-sellers-category/487-2014-year-end-local-real-estate-zip-code-report-01-16-15.html#.VMJgWWdAaek.email

Wonderful Wilmington

There is so much to do and discover in Wilmington! We love our home sweet home!

Small Business Friday featuring Simple Spaces

Melissa Capps of Simple Spaces is a local professional organizer and home stager. She tells us “There’s no better time to get your home organized than when you first move in (setting yourself up for success right!?!)”. We couldn’t agree more! Whether you’re moving into your new rental, made a New Years resolution to get in control of the clutter, or just moved into a home you’ve purchased, starting out in an organized space feels so good that it can’t be wrong. Melissa also offers home staging services. Staging a home that you’re trying to sell makes the house feel warm and appealing, telling buyers that they found “the ONE” the moment they walk through the door. Take advantage of her special promotional pricing:

Reach out to Melissa at 910.777.4252, or [email protected]. www.GetSimpleSpaces.com

Time for a Whole New Year, New You!!!

Resolution
res•o•lu•tion
rezəˈlo͞oSH(ə)n/
noun: resolution; plural noun: resolutions
1. a firm decision to do or not to do something.

It’s that time of year again! Time to assess our daily routines and long term plans, to plot new courses, working towards the best possible lives for ourselves and our families. Whether the goal is big or small, we start out with the very best of intentions only to find our zest for turning things around waning before January is even over. The percentage of people who actually stick to their resolutions beyond January 31 is 8%. 8%! We’d like to do what we can to bump that number up. Let’s go 9% success rate for 2015!

Some tips on how to develop, and keep, good habits in the new year:
1. Set small, specific goals. It’s easier to stay motivated to achieve a baby step rather than the entire grand plan.
2. Establish a routine; make sure to schedule the time needed for the accomplishments. If you don’t make the time, you’ll never find the time.
3. Appreciate and reward yourself for every milestone achieved. Didn’t bite your nails this week? Treat yourself to a pampering manicure and splurge on the nail decoration.
4. Seek social support. Your friends and family will do wonders towards holding you accountable.
5. Don’t give up!!

Do you have any tips about how to achieve goals? We’d love to hear them.

Wishing you the very best 2015!

Let the Festivities Begin!

Wilmington is getting into the holiday spirit with tree lighting ceremonies at every corner starting November 28th! Wrightsville Beach Park is having a tree lighting ceremony at 5:00pm with hot chocolate, caroling, and a visit from the Elf Patrol. There will be another tree lighting at Mayfaire Town Center in front of the movie theater at 5:30pm. Elsa from Frozen will join us for this special event along with snippets from the Nutcracker and A Christmas Carol! The final tree lighting ceremony will take place in Downtown Wilmington at the corner of Princess and North Water St. This festive night will be full of hot cocoa, entertainment, local vendors and a visit from Santa and Mrs. Claus! Our beautiful city is ready to celebrate the season and you’re invited!

What’s Happenin’ in Wilmington this November!?