Is It Too Late to Sell Your Wilmington Home?

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As we start heading into late fall and early winter, many sellers ask, "Is this a good time to sell? Or should we wait until January?" Actually, now is a great time to sell.

First, there is less competition this time of year. The common idea is that it's better to sell during the spring. While there are many buyers out in the spring, there are also more homes on the market. With less competition, you can usually hold your sales price higher than you could in the spring.

Secondly, prospective buyers in the spring are seriously motivated. They don't have as much time to wait and think about things. These highly-motivated buyers lead to more successful sales in the fall and winter.

Don't believe the people who say that the market stops during colder months. We sell homes all year. If you have any questions, give us a call or send us an email. We would be happy to help you!

Is Now the Time to Buy in Wilmington?

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Today I'm going to be speaking about whether right now is a good time to buy a home or not. The truth of the matter is that now is one of the best times to buy a home in recent memory. Historically low interest rates and loose credit requirements are fueling this fire, but nobody is certain when things will shift and prices will go back up. 

It is not difficult to get a loan. You just need to provide the lender with a lot of your information such as credit history, tax information, and employment history. Credit qualifications have been lowered for people that are still recovering from the crash in 2008.

The real estate market in Wilmington is also performing well, and we're seeing a lot more houses come onto the market that are updated and upgraded. It's not hard to find a good home, you only need to offer a fair price and show that you're able to afford it.

As for the future, nobody knows when affordability is going to drop, so I urge you take action if you've been thinking about buying a home. 

If you're looking to buy or sell in Wilmington, please don't hesitate to contact me. I'd be glad to help you!

Financial Benefits of Purchasing a Home

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Affordability is at an all-time high right now. Interest rates are low, and loan products from Fannie Mae and Freddie Mac are allowing consumers to buy with only 3% down. Even rates for private mortgage insurance have dropped, making 2015 a fantastic year to invest in a home. It's difficult for me to imagine a better time to purchase, and on top of these financial incentives, I have five more reasons why owning a home is beneficial to you.

1. Homeownership leverages your money: If you purchase a home, it's likely going to appreciate in price, so you own an investment that you should make a profit on. Other than regular maintenance, there is not a whole lot you have to do to profit off of this investment. 
2. You're paying for housing anyway: You have to pay for housing either way, so why help to pay off someone else's mortgage when you rent a home? When you own a home, your monthly payments go towards an investment that you can gain equity in.
3. It's a form of forced savings: You're making a monthly payment, a portion of which goes toward your principal balance, and in 15 or 30 years, you will have the savings of your home's value. This is incredibly important if you wish to have financial security in the future.
4. Major tax benefits: Property taxes are deductible, and mortgage interest is tax-deductible. There are many tax cuts that you receive when you own a home as opposed to when you pay rent on a property. Also, it's becoming more affordable to pay a monthly mortgage than to pay rent each month.
5. A home protects against inflation: When inflation occurs, your home gains value, so your equity increases and your wealth does too.

If you're renting right now, I suggest you start considering a home purchase. Homes are wonderful investments for the future, and there are actually a lot more benefits to homeownership than I could discuss in the time frame of this video. Please feel free to reach out to me to learn more.

As always, please consider me your #1 resource for real estate in the Wilmington area!