Friday, August 31, 2007
Congrats to Jack and Kathleen!
1st time home buyers! Congrats on your new home. I know you'll be happy, espcially with the large work shop out back! Be sure to let us know when Houston is ready to crank up the amp! We love working with 1st time home buyers. It is such an exciting time and there is so much to learn. Give us a call if you know of someone who is thinking about making a purchase in the Emerald Isle, or Coastal Mainland area, and let us help them get started with prequalifying and searching for their dream spot.
Interest Rates, Great News!
Daily Real Estate News | August 31, 2007
30-Year Mortgages Fall to Lowest Rate in 3 Months
Borrowing costs on home loans dipped to a three-month low this week, providing much-needed relief to home buyers who are facing a tight lending climate.
Freddie Mac reported a drop in the 30-year fixed rate to 6.45 percent from 6.52 percent a week earlier, while interest on 15-year fixed loans slipped to 6.12 percent from 6.18 percent. Adjustable-rate mortgages, however, moved in the opposite direction.
The five-year ARM settled at 6.35 percent for the week, up a notch from 6.34 percent a week ago; and interest on one-year ARMs averaged 5.84 percent compared to 5.6 percent.
Source: Baltimore Sun (08/31/07)
30-Year Mortgages Fall to Lowest Rate in 3 Months
Borrowing costs on home loans dipped to a three-month low this week, providing much-needed relief to home buyers who are facing a tight lending climate.
Freddie Mac reported a drop in the 30-year fixed rate to 6.45 percent from 6.52 percent a week earlier, while interest on 15-year fixed loans slipped to 6.12 percent from 6.18 percent. Adjustable-rate mortgages, however, moved in the opposite direction.
The five-year ARM settled at 6.35 percent for the week, up a notch from 6.34 percent a week ago; and interest on one-year ARMs averaged 5.84 percent compared to 5.6 percent.
Source: Baltimore Sun (08/31/07)
Myths about "Discount Realtors"
Wrote this awhile ago, it is lengthy, but it helps explain our business model and how we interact in the Real Estate community.
5 Myths about the Nelson Advantage Lower Commission Rate
As we have signed up various clients, we have become aware of some myths they have heard while interviewing agents. (A wise seller interviews at least two agents prior to listing!) These misconceptions are certainly not made out of malice, but most likely out of lack of knowledge regarding how we operate since our business model is not one agents in our area are used to working with. We thought we’d address these myths to aid you in better understanding who we are, why we offer the rate we do and what you can expect when working with Nelson Advantage as a buyer, seller or when referring someone to us.
Myth #1 Discount Realtors? We charge a commission rate of 3.9%. leading some in the industry to refer to us as being “discount,” implying we have lowered our prices. Not true! If you look at what agents made per transaction before the big increase in real estate prices, you’ll see we are making roughly the same amount per transaction today, at a lower commission rate. Rather than keeping our commission rate the same as housing prices soared, we choose to lower the rate we charge, and leave the increased equity in our clients’ pockets. So, no, we are not discount Realtors, we in fact have just not increased our prices.
The commission rate consists of the amount paid to the listing agent and the amount that agent will pass on to the buyer’s agent. A seller should always be sure the buyer’s agent is compensated well for bringing a buyer to the closing. We pay competitive buyer agent rates. How are we able to do this? It’s simple, we take the lower percentage to allow our clients a lower overall commission rate
Myth #2 One Agent “Has the Buyers” so list with them to get showings….With the advent of Realtor.com and Agent websites, no agent “owns” the buyers. It is rare that a home is listed and sold by the same agent. And…90% of all buyers, have seen a property on Realtor.com or a Realtor website prior to physically looking at it. In today’s market, buyers themselves pick the properties they want to see. Good agents follow the buyer’s lead adding more information as they go along. To this end, all NelsonAdvantage clients get the added advantage of expanded features on Realtor.com and also have their homes featured on our company website and the Nelson Advantage website, (yournelsonadvantage.com), ensuring our clients premium internet exposure.
Since all the properties for sale in the county can be shown by any Realtor of Carteret County. all properties are available to buyers, not just those listed with the specific Realtor they are using or the agency with which they are associated.
Myth#3 “You won’t get as high a selling price” We have to chuckle at this one; if we could control the market place well enough to get more or less for your home, we sure would try to get more! Obviously our sellers set their prices, based in part on a comprehensive market analysis prepared exclusively for them, which takes into consideration the market, their home, and the competition.. All pricing is market and “client objective” dependent.
When an offer comes in, of course, you want a competent negotiator on your team. This is where our experience and expertise come into play as well. We will coach our clients as much or as little as they are comfortable with, in the fine art of negotiating and reading the buyer, but the ultimate decision maker is the seller, not the agent. Again, how to respond to an offer is dependent on the seller’s objectives and the market, and a good agent will help the seller understand the different options and help them make a wise and informed response. Knowledge and experience make a good negotiator and you want to be sure the agent you chose has both! Those who have worked with us have seen the results, if you are still unsure, look at the testimonials on our website! And don’t forget, our customers save thousands when they sell their home, simply because they are paying less in commissions.
Myth #4 “You Get What You Pay For” When all else fails, this is the final comment often tossed out by an agent who wants to win out over a lower commission rate agent. We actually were told this when we were helping our aunt list her home in Atlanta last week. When choosing a Realtor it is important to find out what services you can expect. You might be surprised to learn some agents do not use print advertising because they think it “ineffective,” or that they do no open houses, or use lockboxes. It is equally important to know what your Realtor’s marketing strategy is and how it will be implemented. How will your Realtor follow through? How often will you get feedback on your listing? Ed and I say, “Dare to Compare” with the Nelson Advantage marketing approach where you’ll find we focus on relationships not transactions. We think you will be hard pressed to find any that surpass our services. Please ask for a copy of our marketing strategy so you can make this comparison whether searching for a Realtor at the coast or elsewhere. Also, we will gladly interview Realtors for you in other areas of the country to help you find the best one for your needs.
Myth #5 “No one shows a Discount Realtor’s listings.” Of course this is not true, again, the buyer choses what he wants to see. The Realtor shows the buyer what they are interested in because that is what the buyer will ultimately buy, whether he buys it through that Realtor or another. Roughly 50% of our business is involved with other Realtors, either we are showing their property or they are showing ours. Our average in terms of % business in which we co-broke with another Real Estate company is very similar to other companies in the area. Buyers’ agents get a competitive commission, so they are just as incented to show our properties as any other properties.
In closing, we hope we have dispelled some of these “Nelson Advantage Lower Commission Rate Myths.” We love to hear from you and appreciate your comments and questions. We are pleased so many of you are savvy investors, and know that money not spent in commissions is money in your pocket. Thanks for your trust in us, and thanks for reading our newsletter! We hope you continue to find it informative.
5 Myths about the Nelson Advantage Lower Commission Rate
As we have signed up various clients, we have become aware of some myths they have heard while interviewing agents. (A wise seller interviews at least two agents prior to listing!) These misconceptions are certainly not made out of malice, but most likely out of lack of knowledge regarding how we operate since our business model is not one agents in our area are used to working with. We thought we’d address these myths to aid you in better understanding who we are, why we offer the rate we do and what you can expect when working with Nelson Advantage as a buyer, seller or when referring someone to us.
Myth #1 Discount Realtors? We charge a commission rate of 3.9%. leading some in the industry to refer to us as being “discount,” implying we have lowered our prices. Not true! If you look at what agents made per transaction before the big increase in real estate prices, you’ll see we are making roughly the same amount per transaction today, at a lower commission rate. Rather than keeping our commission rate the same as housing prices soared, we choose to lower the rate we charge, and leave the increased equity in our clients’ pockets. So, no, we are not discount Realtors, we in fact have just not increased our prices.
The commission rate consists of the amount paid to the listing agent and the amount that agent will pass on to the buyer’s agent. A seller should always be sure the buyer’s agent is compensated well for bringing a buyer to the closing. We pay competitive buyer agent rates. How are we able to do this? It’s simple, we take the lower percentage to allow our clients a lower overall commission rate
Myth #2 One Agent “Has the Buyers” so list with them to get showings….With the advent of Realtor.com and Agent websites, no agent “owns” the buyers. It is rare that a home is listed and sold by the same agent. And…90% of all buyers, have seen a property on Realtor.com or a Realtor website prior to physically looking at it. In today’s market, buyers themselves pick the properties they want to see. Good agents follow the buyer’s lead adding more information as they go along. To this end, all NelsonAdvantage clients get the added advantage of expanded features on Realtor.com and also have their homes featured on our company website and the Nelson Advantage website, (yournelsonadvantage.com), ensuring our clients premium internet exposure.
Since all the properties for sale in the county can be shown by any Realtor of Carteret County. all properties are available to buyers, not just those listed with the specific Realtor they are using or the agency with which they are associated.
Myth#3 “You won’t get as high a selling price” We have to chuckle at this one; if we could control the market place well enough to get more or less for your home, we sure would try to get more! Obviously our sellers set their prices, based in part on a comprehensive market analysis prepared exclusively for them, which takes into consideration the market, their home, and the competition.. All pricing is market and “client objective” dependent.
When an offer comes in, of course, you want a competent negotiator on your team. This is where our experience and expertise come into play as well. We will coach our clients as much or as little as they are comfortable with, in the fine art of negotiating and reading the buyer, but the ultimate decision maker is the seller, not the agent. Again, how to respond to an offer is dependent on the seller’s objectives and the market, and a good agent will help the seller understand the different options and help them make a wise and informed response. Knowledge and experience make a good negotiator and you want to be sure the agent you chose has both! Those who have worked with us have seen the results, if you are still unsure, look at the testimonials on our website! And don’t forget, our customers save thousands when they sell their home, simply because they are paying less in commissions.
Myth #4 “You Get What You Pay For” When all else fails, this is the final comment often tossed out by an agent who wants to win out over a lower commission rate agent. We actually were told this when we were helping our aunt list her home in Atlanta last week. When choosing a Realtor it is important to find out what services you can expect. You might be surprised to learn some agents do not use print advertising because they think it “ineffective,” or that they do no open houses, or use lockboxes. It is equally important to know what your Realtor’s marketing strategy is and how it will be implemented. How will your Realtor follow through? How often will you get feedback on your listing? Ed and I say, “Dare to Compare” with the Nelson Advantage marketing approach where you’ll find we focus on relationships not transactions. We think you will be hard pressed to find any that surpass our services. Please ask for a copy of our marketing strategy so you can make this comparison whether searching for a Realtor at the coast or elsewhere. Also, we will gladly interview Realtors for you in other areas of the country to help you find the best one for your needs.
Myth #5 “No one shows a Discount Realtor’s listings.” Of course this is not true, again, the buyer choses what he wants to see. The Realtor shows the buyer what they are interested in because that is what the buyer will ultimately buy, whether he buys it through that Realtor or another. Roughly 50% of our business is involved with other Realtors, either we are showing their property or they are showing ours. Our average in terms of % business in which we co-broke with another Real Estate company is very similar to other companies in the area. Buyers’ agents get a competitive commission, so they are just as incented to show our properties as any other properties.
In closing, we hope we have dispelled some of these “Nelson Advantage Lower Commission Rate Myths.” We love to hear from you and appreciate your comments and questions. We are pleased so many of you are savvy investors, and know that money not spent in commissions is money in your pocket. Thanks for your trust in us, and thanks for reading our newsletter! We hope you continue to find it informative.
Bon Voyage, Deb and Ralph!
Congrats on the sale of your Emerald Isle condo, we'll miss you, and hope you stay in touch! Tell Temecula hello for us.
Ralph and Deb just sold their Sound of the Sea condo to a lucky family from Durham, who is looking foward to many happy family summers in Emerald Isle!
If anyone else is interested in a Sound of the Sea condo, we still have a lovely, furnished 2 BR for sale, with a great rental history. Now is a great time to buy, so give us a call, or E Mail to get more info about this unit.
Ralph and Deb just sold their Sound of the Sea condo to a lucky family from Durham, who is looking foward to many happy family summers in Emerald Isle!
If anyone else is interested in a Sound of the Sea condo, we still have a lovely, furnished 2 BR for sale, with a great rental history. Now is a great time to buy, so give us a call, or E Mail to get more info about this unit.
Thursday, August 30, 2007
Interest Rates are Falling!
Yes they are, and the potential buyers are roaming the island. Now is the time to get your property on the market and priced RIGHT! If you've not had a current market analyis done (in the past 2-3 months) please ask us to do one for you! Prices have moved a bit, and those sellers who are recognizing it, and adjusting their prices are selling!
We've seen a definite increase in activity which we determine from the number of our listings that are getting shown and the number of offers we are seeing on our listings, as well as the buyer calls we are receiving for our properties and others on tne island. Buyers seem to be narrowing down their choices and with the drop in rates, maybe ready to make their move. Stay tuned, in a few days I'll be reporting the number of sales for the month of August and after September numbers are in as well, we will be able to tell if the change in activity is showing up in the numbers.
We've seen a definite increase in activity which we determine from the number of our listings that are getting shown and the number of offers we are seeing on our listings, as well as the buyer calls we are receiving for our properties and others on tne island. Buyers seem to be narrowing down their choices and with the drop in rates, maybe ready to make their move. Stay tuned, in a few days I'll be reporting the number of sales for the month of August and after September numbers are in as well, we will be able to tell if the change in activity is showing up in the numbers.
Monday, August 27, 2007
Latest on the "Static Vegetation Line" Emerald Isle
To best understand what is happening with the NC Coastal Resource Commission and the Oceanfront Setback rules in the currently non-conforming areas of Emerald Isle, take a look at the most recent Emerald Tidings report in the Island Review for September.
Much of eastern Emerald Isle oceanfront could be affected if this ruling is revised. This could result in the ability to reconstruct up to 2000 sq feet structures in the unfortnuate event of a disaster damaging in excess of 50% of a currently existing structure in this area. Should this ruling be changed, it could mean significant appreciation of properties in the current non-conforming areas.
Emerald Isle is on record as supporting this change to the rules, removing the static vegetation line and allowing reconstruction that meets specific guidelines. For additional info visit nccoastalmanagement.net and keep tuned to our blog and the Emerald Tidings report for further updates.
This could be a great time to buy in the ocean front area between Indian Beach and the Pier Pointe condominiums.
Interested in seeing what is for sale in this area? Contact me and I'll give you an update of ocean front properties for sale. There are some fantastic properties for sale, great rental income and prices starting in the low 4's.
Much of eastern Emerald Isle oceanfront could be affected if this ruling is revised. This could result in the ability to reconstruct up to 2000 sq feet structures in the unfortnuate event of a disaster damaging in excess of 50% of a currently existing structure in this area. Should this ruling be changed, it could mean significant appreciation of properties in the current non-conforming areas.
Emerald Isle is on record as supporting this change to the rules, removing the static vegetation line and allowing reconstruction that meets specific guidelines. For additional info visit nccoastalmanagement.net and keep tuned to our blog and the Emerald Tidings report for further updates.
This could be a great time to buy in the ocean front area between Indian Beach and the Pier Pointe condominiums.
Interested in seeing what is for sale in this area? Contact me and I'll give you an update of ocean front properties for sale. There are some fantastic properties for sale, great rental income and prices starting in the low 4's.
Sunday, August 26, 2007
The Islander goes Condo-tel
Check this out, the latest way to own at the beach affordably! The Islander has gone Condo-tel. Priced at $149,000 per suite, the suites have the following description: "Oceanfront condo suite hotel - All suites will be newly renovated - furnished - living & bedroom areas with mini bars - refrigerator/microwave - pool - owners must use as a rental, not as second home - must be a rental. Monthly fees: electricity, gas, water, sewer, cable, wireless internet, grounds, pest control, bldg & pool maintenance, trash removal"
If you want to know more, give us a call, and we'll get you in to see one. These units do not have full kitchen facilities nor do they have individual washer/dryer, they are truly condo-tel units not meant as second homes.
For a second home option, take a look at the Emerald Cove units. These are interesting alternatives with efficiencies and one bedrooms available starting at $186,000, these units are sound front and the complex has a dock, pool, grill area, and club house with wi-fi, cable, and game tables. Short walk to the beach, these can be rented out, or kept as a full time 2nd home. Lovely setting, nicely furnished with kitchen appliances and washer/dryer included. If you've not seen the new Emerald Cove, give us a call and lets go take a look. Sitting out on your deck looking at the sound, is as peaceful as it gets.
If you want to know more, give us a call, and we'll get you in to see one. These units do not have full kitchen facilities nor do they have individual washer/dryer, they are truly condo-tel units not meant as second homes.
For a second home option, take a look at the Emerald Cove units. These are interesting alternatives with efficiencies and one bedrooms available starting at $186,000, these units are sound front and the complex has a dock, pool, grill area, and club house with wi-fi, cable, and game tables. Short walk to the beach, these can be rented out, or kept as a full time 2nd home. Lovely setting, nicely furnished with kitchen appliances and washer/dryer included. If you've not seen the new Emerald Cove, give us a call and lets go take a look. Sitting out on your deck looking at the sound, is as peaceful as it gets.
Friday, August 24, 2007
Market Update August 24
Emerald Isle Activity
One home closed yesterday on the sound side of Coast Guard Rd. It was over 1600 sq ft and sold for $380,000. Properties in the $300,000's are available soundside, and in the 400's ocean side. You might be surprised at what you can afford on the island today. Come on down and take a look! The cheapest alternative in Emerald Isle today is an efficiency that is available in the Pebble Beach complex, just reduced to $148,000. Great way to get a foot on the island! If you'd like more information about either of these listings, let us know and we will get it to you.
A few new listings in the lovely neighborhood of Lands End this week. There are some very good buys in that neighborhood and remember, it has lovely ponds, an ocean front clubhouse and pool plus very large parking lot for easy beach access for the entire neighborhood. The neighborhood is gated, and the residents prefer to move around the neighborhood in their golf carts rather than taking their cars out of the garage. Great spot for relaxed island living. There are also two sets of tennis courts. The homes on the market today start as low as the mid 4's and go up into the millions. There is a home for everyone at Lands End, so give us a call, and let's go take a look at the great deals in this neighborhood. There are three homes under contract in this neighborhood, but don't worry, there are still many to chose from.
One home closed yesterday on the sound side of Coast Guard Rd. It was over 1600 sq ft and sold for $380,000. Properties in the $300,000's are available soundside, and in the 400's ocean side. You might be surprised at what you can afford on the island today. Come on down and take a look! The cheapest alternative in Emerald Isle today is an efficiency that is available in the Pebble Beach complex, just reduced to $148,000. Great way to get a foot on the island! If you'd like more information about either of these listings, let us know and we will get it to you.
A few new listings in the lovely neighborhood of Lands End this week. There are some very good buys in that neighborhood and remember, it has lovely ponds, an ocean front clubhouse and pool plus very large parking lot for easy beach access for the entire neighborhood. The neighborhood is gated, and the residents prefer to move around the neighborhood in their golf carts rather than taking their cars out of the garage. Great spot for relaxed island living. There are also two sets of tennis courts. The homes on the market today start as low as the mid 4's and go up into the millions. There is a home for everyone at Lands End, so give us a call, and let's go take a look at the great deals in this neighborhood. There are three homes under contract in this neighborhood, but don't worry, there are still many to chose from.
Thursday, August 23, 2007
Congrats on your new homes!
It's been a busy week for home closings at Nelson Advantage
Melissa and Matt own their very first home tonight! How exciting is that? They are painting, re flooring, and making it truly their own. Congrats to you on your first home.
Welcome back to town, Becky, and congrats on the close of your lovely new home. I know your daughter is glad to have you back in the area!
And of course, Janelle, Trey and little Claire. In their brand new home. I know you will be happy in your new spot. Thanks for sharing Claire with us in July's newsletter. If anyone missed it, let me know and I'll send out a copy! Very Very cute!
Melissa and Matt own their very first home tonight! How exciting is that? They are painting, re flooring, and making it truly their own. Congrats to you on your first home.
Welcome back to town, Becky, and congrats on the close of your lovely new home. I know your daughter is glad to have you back in the area!
And of course, Janelle, Trey and little Claire. In their brand new home. I know you will be happy in your new spot. Thanks for sharing Claire with us in July's newsletter. If anyone missed it, let me know and I'll send out a copy! Very Very cute!
And so it begins....
Here we go, into the world of blogs. With so much going on in the world of real estate and investments, we thought it'd be fun to have a spot for people to see what we think is impacting the real estate market at the coast, and to allow you to have a spot to put your two cents in as well. We are hoping to give you a spot to talk, ask questions and see what is new by visiting the blog often.
Mac recently sent out a market update to our clients, and we've gotten quite a response from many, wanting a new market update on their property's worth in today's market. We are responding with info on recent sales and listings and days on the market, and wanted to extend the same service to others who might be thinking about whether this is a good time to put your property on the market. Fall is always interesting at the coast. The weather is at its best, the crowds are gone, you can actually get into the ocean fronts and take a look because they are not constantly rented out, and you can even rent one for a few days and try it out while you look around. With all this in mind, it is a great time to place your property on the market, so give us a call and let us help you figure out whether this is the right time for you. Remember a market evaluation is only good for a short period of time, and you should request updates and revisions frequently to stay ahead of the changing market place.
Mac recently sent out a market update to our clients, and we've gotten quite a response from many, wanting a new market update on their property's worth in today's market. We are responding with info on recent sales and listings and days on the market, and wanted to extend the same service to others who might be thinking about whether this is a good time to put your property on the market. Fall is always interesting at the coast. The weather is at its best, the crowds are gone, you can actually get into the ocean fronts and take a look because they are not constantly rented out, and you can even rent one for a few days and try it out while you look around. With all this in mind, it is a great time to place your property on the market, so give us a call and let us help you figure out whether this is the right time for you. Remember a market evaluation is only good for a short period of time, and you should request updates and revisions frequently to stay ahead of the changing market place.
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