Merry Christmas and Happy New Year

On the eve of 2016, I want to wish you a very Merry Christmas and a Happy New Year. I hope to see you again in 2017!
 

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Today, I wanted to take a moment to wish you a very Merry Christmas and a Happy New Year. It’s hard to believe that 2016 is almost finished. Time is flying by, and 2017 is right around the corner.

Whether you’re a client or a friend, I want to thank you for making 2016 so special. It’s my privilege to help you buy or sell a home and do the same for one of your referrals.  

This week, I hope you take the opportunity to spend time with your family and relax. I know I certainly will. I look forward to seeing you in 2017!
 

Crawl Spaces - the Problem You Didn’t Know You Had

It’s important that you know all about your crawl space when you’re getting ready to sell your home. This has been a hot-button issue lately with many transactions we’ve seen so far this year. More and more, home inspectors are finding issues under people’s crawl spaces - the area between the ground and the first floor of the house. If your house doesn’t have a basement, this is likely where the heating and air systems are installed.

Any problems that arise from crawl spaces will be due to two factors: humidity and moisture. The confluence of humid air seeping in under the crawl space vents and mixing with the cold air running through the ductwork creates a sweating effect. This sweating creates moisture that clings to the wood framing. Over time, under the right conditions, wood-destroying fungi, mold, and mildew can eat into the wood and compromise structural integrity.

Take action now and save yourself a future headache.

In our area, this process can be delayed because we have a wintertime season to quell the humidity. Next summer, however, the cycle starts all over again. If you’re already under contract and have negotiated the price of the house, the last thing you need is the home inspector finding a problem you never even knew you had.

If you have a vapor barrier on top of the dirt covering the ground area under your home, that should prevent the ground moisture from evaporating onto your wood joists. Another remedy is sealing the crawlspace vents and installing a dehumidifier.

A lot of home inspectors are also recommending that you hire a crawl space company to specifically examine your crawl space so that they can recommend a solution. Of course, this can cost anywhere from $1,800 to as much as $6,000, depending on the size of the crawlspace, but it will be worth the precaution.

Just because you don’t see it doesn’t mean it can’t affect you. If you’re thinking about selling your house, take action now and save yourself a future headache.

If you have any further questions regarding this topic, please don’t hesitate to give me a call or shoot me an email. I’d be glad to help you.

What the June Wilmington Market Means for You

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I wanted to give you a quick update on the state of the Wilmington market, it being the middle of the summer with things heating up.

Spring was a great, busy season and summer has seen no change. Compared to last June, we sold 15% more properties this June. The average sales price rose about 3% in that same period. Median home sale price (half sold above this price, half sold below) rose $6,500 year over year as well.

It's a good indicator of where prices are going and where sellers are really able to increase the sales price of a home.

Days on market is dropping as well, and that's a good thing. Last year the average days a home spent on the market was 104 days, and this year that number sped up to 96 days, or just over three months. That right there tells you that homes are selling very quickly.

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Looking at this year compared to last, it's a great time to sell.

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The caveat to this is that the higher the price point you get into, the higher the average number of days a home spends on the market. Homes priced $300,000 and less are not sitting on the market for long; we're seeing multiple offers, sometimes within a week. Things are really moving in that price range.

Compared to last year when we saw 1,010 listings, this year we saw 1,034. A few more properties have been listed - historically this is a busier time of the year. In short, it's still a great time to be selling a home.

If you've been thinking about buying or selling a home, your time may be running out. Give me a call for a free consultation and let's talk about achieving your goals soon.