Wilmington NC Real Estate

Wrightsville Beach NC: A Dog Day Celebration!

Fri, 12 Oct 2007 22:42:16 -0500

Is your Dog is into disc catching Come on by the 2007 Skyhoundz Hyperflight Canine Disc Championships at Wrightsville Beach Park.

The event begins at 11am. Free entry but please come by the Wrightsville Beach Recreation Office to pre-register from 9:30-10:30 Saturday for more information, call 910.256.7925.

Following the Disc Championship the the 2nd Annual Parade of Pooches hosted by WilmTV will take place. Free admission. Refreshments available

The dog show will run from 1 to 4 p.m. Oct. 13.

This charity event also benefits the New Hanover Humane Society and last year raised more than $3,000 for the shelter. Pooch parents can enter their dogs in nine categories, for gift prizes from sponsors and gold medals for first-place winners:

Contest Categories

Perfect Pooch: best all-around

Most Talented: best tricks

Runway Ready: best dressed

Smallest Wonder: 25 pounds and under

Bigger Beauty: 25 pounds and up

Definitely My Owner's Dog: look-alike category

Not Your Average Pooch: exotic looking dogs

A Face That Only an Owner Can Love: not so attractive pooch

Most Stylish Cut: best cut

Dogs can enter two of the nine categories for a $15 donation.

Wilmington NC: Fun Times for People and Their Pets This Weekend

Sat, 27 Oct 2007 01:09:34 -0500

If you live or have ever visited the Wilmington area , you know we are one dog loving town. We like to hang with our pooches and this weekend there will be plenty of opportunity for some pet friendly fun... Here a a few of the "Doggie Doings"

Saturday October 27th

First Annual DogFest in Empie Park

Wilmington's only off leash Doggie Park hosts tis fun day with proceeds going to Cape Fear Golden Rescue and the Morris Animal Foundation Canine Cancer Campaign. Activities include doggie contests, segway demo and rides, pumpkin painting contest for kids. Entertainment Provided 5.00 admission

Howl-O-Ween Pet Costume Contest

PE TCO of Wilmington will be host Saturday the 27^th to to an afternoon of fun for are Pet owners. Bring your pets dressed in costumes funny or frightening and you may win a 15 gift card! Contestants will be judged on creativity, attention to detail and pet parent involvement. Each store winner will receive a $15 PETCO Gift Card. 2-4pm

Saturday & Sunday 11am-5pm ADOPT-AN-ANGEL PET ADOPTIONS

Petco Wilmington - Dogs and puppies will be on the premises waiting to be adopted into a loving home. All animals spayed/neutered and have all necessary shots. Please stop by and find your puppy love!
More info call Mario at (910) 616-3708

Sunday October 28th

Meet the Artist Reception & Fundraiser

Cool Dogs & Crazy Cats Meet local Southport artist and animal lover, Diane Sloan. Wine, cheese and other refreshments served. Ms Sloan will donate a portion of any portrait bookings made during the event to Paws Place. More Info: 910-457-0115

COASTAL K9 BAKERY HALLOWEEN PARTY

Coastal K9 Bakery is hosting a Halloween party for people and pooches There will be costume contest and outdoor activities. “Doggie daiquiris” and deserts will be provided. 2-4pm

If you and you pets are thinking of moving to beautiful Coastal Carolina, we would be happy to send you information about the Wilmington NC Real Estate market!

Rainy Day Smiles and Puddle Dancing Pup

Fri, 16 Nov 2007 22:03:52 -0600

Woo Hoo! The Rain came down yesterday in our Wilmington NC Neighborhood! In the midst of North Carolina's worst drought in history, the rain was a welcome sight.

By late afternoon the sky cleared and was turning a pretty pink. Bella and I headed out for a walk before dinner and to enjoy the crisp autumn breeze, as the sparkling pink & marshmallow blue sky mirrored in the glisitneing rain puddles.

Bella danced through the puddles, and was so excited to see the rain she just had to have a drink!

We ran into Mr & Mrs StrawPeople across the street and they were also delighted to see the rain! Don't they look happy?

In the midst of the worst drought in North Carolina history, yesterday's rain was truly "good to the last drop!"

Fayetteville, NC Referrals, Think Jeff Prevette

Tue, 05 Jun 2007 11:17:54 -0500

I sent a client Jeff Prevette's way a couple of weeks ago. She was on a very tight budget and a tight schedule. Jeff gave her extraordinary service even taking her to look on the day he was personally moving into his own new home!

She told me today, Jeff.... was "GREAT" and showed a lot of patience with her "stuff".

The first contract fell out, but Jeff came through with another home for her. A foreclosure property at a steal!

They will close in 10 days!

Got a Fayetville referrral?? Get Jeff Prevette, and tell your clients get packing!

Great Job Jeff. Thanks!

Ginger

Call Ginger & Roger Sala

For your Coastal NC Real Estate Needs: Wilmington, Hampstead, Wrightsville Beach, Carolina Beach, Kure Beach, Leland

Wilmington NC: Memorial Day Weekend, Fun, Food, Friends, "Fido", and Fabulous Weather

Wed, 30 May 2007 23:49:14 -0500

What a great Memorial Day weekend in Wilmington NC! Fun, sun, friends, "Fido" and fabulous weather!

Our holiday weekend got off to a great start late Friday morning with the much anticipated visit to Wilmington by Anita D. one of my dearest friends who lives and loves life in the Big Apple.

The two of us drove away off from the airport by 11am, and headed to my home for a relaxing lunch on the back porch where Anita had the pleasure of meeting our precious Bella for the first time, since it had been 2 years since her last visit here. They hit it off right from the start!

The Carolina Blue skies were manifested in all their glory and a gentle breeze provided an ideal weather environment for any or all outdoor activity. We chose to center our around activity around food for the time being.

After lunch Anita, Bella and I were off to the Lewis Nursery and Farms to pick up baskets of fresh picked blueberries and farm fresh zucchini and green onions. We made our next stop the Fresh Market, one of the newest additions to the fabulous Mayfaire Town Center Shops and loaded up with some home made fresh edibles for a relaxing dinner on the back patio.

While my friend relaxed, or should I say napped, (she was exhausted from traveling and a 5am wake up) I prepared the salads and veggies, to go with our previously prepared Chicken entrée. Roger joined us after an afternoon of showing homes to out of town clients who had scheduled a trip here at the last minute. We all enjoyed a leisurely meal, then we were off to join the crowd celebrating the kick off Concert in the " Music On the Town" Mayfaire Town Center Summer Concert series.

An estimated 1200 folks of all ages, from infants to eighties, came out to enjoy the sounds of summer. There was laughter, music, dancing, spirits, and lot's of puppy dogs under a canopy of clear, dry Carolina blue evening skies! What a lovely night. Anita was tired so we skipped our usual Friday night stargazing trip to the beach and headed back home to our desserts of ...what else... fresh strawberry shortcake with a touch of fresh blueberries and whipped cream! What a topping to a lovely day!

After a leisurely breakfast on Saturday we honored our Vets by placing flags around our property and in planters, while saying prayers for those who served and serve our country. Then we headed back to the Mayfaire Town Center for a free Memorial Day Concert hosted by NC Signature Magazine featuring one of Wilmington's most popular bands the Blues Rockin' Tommy B and the Stingers. We enjoyed sampling a variety of munchies under a tent was set up by local vendors offering yummy free food samples and prize drawings. We bought a picnic lunch with us of chicken, potato salad, fresh fruit salad and rolls.

After a couple of hours we packed up and headed downtown to take in the sights of Historic downtown Wilmington. As we strolled down the cobblestoned streets, my friend was charmed by the delightful array of historic homes, enchanting Bed & Breakfasts, and alluring local gardens.

Downtown was bustling with visitors from all over and I heard a variety of accents including European buzzing about us. A beautiful day became an enchanted evening as the sun gave way to a quarter moon which illuminated the Cape Fear River. Clear skies gave us a good show of Venus in the Western sky.

We stopped for a NY Style Pizza, then took a free trolley ride tour around town. A little sweet treat at the popular Kilwin's Candy shop on Market Street capped a wonderful day!

Sunday Wiilmington repeated its fabulous weather show and we enjoyed some RR on the back deck before heading downtown for Church services, and after to take in the annual Wilmington Arts-Fest featuring local artists and craftsmen. As we walked to the location on Princess St via Market Street we were awed by the many historic churches, the native Live Oaks with their spidery chandeliers of Spanish moss, and the recently restored fountain by the Bellamy Mansion.

Our next stop was the Cotton Exchange between Front and Water St. a Landmark building of historic significance now lovingly converted into an eclectic collection of charming shops and restaurants.

After we headed back to our house to enjoy a BBQued London Broil, salad, roasted potatoes, and farm fresh zucchini and were off again to catch the sunset on beautiful Wrightsville Beach.

What a glorious evening on the beach! The gentle island breeze and perfect temperatures made a winning combination under the Carolina Blue Skies. The sun set softly under the risen moon and then the stars showed themselves one by one in glorious splendor. Venus shone bright and lined up with Mercury and Saturn a rare astronomical event.

We walked by the shore got our feet wet and felt the soft sand in our toes. We sat there by the ocean's edge for a long time in silence, comforted and strengthened by the rhythm of the crashing tide, and awed by the wonder of our galaxy. We would have liked to stay all night! It was simply heavenly!

We topped off the night back at the house with more home-made strawberry shortcake layered with ice cream, blueberries, and whipped cream. A sweet end to a delightful day!

On Monday we woke again to a spectacular day! My friend had to catch an early morning flight back to NYC since that was all that was available when she booked her trip.

After we dropping her her off at Wilmington International Airport we set off for an early trip to Wrightsville Beach. We were on the Beach by 9 am.

What a great time to arrive. The holiday crowds had not yet made their way there and we thoroughly enjoyed the serene atmosphere! The soft summer skies and open sands welcomed us. Surfers, Sailboats, Jet Skis navigated the gentle waves. Moms jogged with their baby carriages, and children dug their way to China. What a morning!

After leaving the beach we headed home for a very relaxing afternoon, can you say long nap?? Did a little gardening and laundry, dined then headed back to Wrightsville Beach for another glorious sunset and starry night. And of course home for more strawberry shortcake!

All in all a wonderful Holiday weekend in wonderful Wilmington, our Hometown! Life is great in our town where others love to vacation!!!

Read more about life in Wilmington NC

Thinking about moving here or buying a vacation home in Our little Corner of Paradise?

Contact us for a free Wilmington NC Relocation Package!

By Ginger Sala Wilmington NC Realtor

North Carolina Has The Lowest Closing Costs in The Country!

Thu, 07 Aug 2008 20:18:43 -0500

North Carolina had the least expensive real estate closing costs in a nationwide survey as reported by Bankrate.com.

The samples for the survey was conducted by Bankrate INC. and information provided by data compilled from 9 online lenders.The hypothetical subject property used for the survey was a $200,000 home.

North Carolina closing costs were at an average $2650. The national average was $3,118 an increase of 14% from 2007. No surprise that New York, with 3 lawyers and a title agent for every closing, leads the nation with average fees of $4,016.

The survey includes lenders’ origination fees, title and settlement fees, but does not include taxes, prorated interest or homeowner association dues.

Click here for a sample breakdown of North Carolina Closing Costs *all costs reflect Bankrate Inc survey of online lenders and may vary acc to service providers.

© Ginger Sala, Keller Williams Realty Wilmington NC Real Estate & Relocation Specialist: serves the beautiful Coastal North Carolina areas of Wilmington, Wrightsville Beach, Hampstead, Carolina Beach, Kure Beach, Topsail Island, Surf City & Leland. Wilmington NC Living truly has something for everyone!" Visit our website: CoastHomeNorthCarolina.com for Wilmington NC Area Information, Wilmington NC Schools, Wilmington NC MLS listings! Click here to contact Ginger

"Coast Home to North Carolina!"

Wilmington NC Neighborhoods: Emerald Forest

Mon, 13 Oct 2008 10:10:29 -0500

The first homes in the Wilmington NC Community of Emerald Forest were built in the late 90's. Homes are a mix of Colonial style, ranch style, with a few Low Country style homes mixed in. The sq ft ranges from 1300 to around 3000 sq ft.

Most of the homes are vinyl sided, although there a few brick homes in the community. Lots sizes vary with the average being around 1/3 of an acre. The community was entirely built out by 2003.

The neighborhood of 120 homes was laid out in a curvilinear pattern which gives it an open feeling. Conservation areas run through the community which adds to the charm.

Emerald Forest is located on the north side of Wilmington in Zip code 28411 in an area known as Ogden. Ogden Elementary, the new elementary school built in 2007 is located just outside the Oyster Lane Entrance to Emerald Forest.

Conveniently located within 7 miles of beautiful Wrightsville Beach, a quick a 3 mile drive to the fantastic shopping at the Mayfaire Town Center, only 8 miles to Historic Downtown Wilmington. Emerald Forest It's outside the city limits so residents pay no city taxes..

Emerald Forest is a very popular neighborhood for its convenience, location and quality of life and resale homes are in demand.

Fast Facts about Emerald Forest Community

Zip code 28411
Built by Bill Clark Homes
Located just outside Wilmington City Limits
County taxes .42 per 100 value
No HOA

Emerald Forest School Assignments

Emerald Forest 2008 Real Estate Market Reports

Prices From $182-$389,000
7 Homes sold this year
Average 2008 time on market 87 days
One Short Sale
High sold $389,900
Low sold $182,000 (Short Sale)

© About the author: Ginger Sala, Keller Williams Realty Wilmington NC Real Estate & Relocation Specialist: serves the beautiful Coastal North Carolina areas of Wilmington, Wrightsville Beach, Hampstead, Carolina Beach, Kure Beach, Topsail Island, Surf City & Leland. Wilmington NC Living truly has something for everyone!" Visit our website: CoastHomeNorthCarolina.com for Wilmington NC Area Information, Wilmington NC Schools, Wilmington NC MLS listings! Click here to contact Ginger

"Coast Home to North Carolina!"

Wilmington NC Area Real Estate Market Report for July 2007

Tue, 24 Jul 2007 22:58:44 -0500

The Wilmington NC Area Real Estate market currently has 553 homes under contract. The market is healthy with sales prices averaging 98% list to sale price ratio. The most active price ranges are $200-250,000 with 397 homes currently on the market and a price to sales ratio of 98%, and the $250-300,000 range with 359 homes currently on the market and a price to sales ratio of 97%. There is quite a bit of variance in the days on the market (DOM ) with the $175,000-200,000 range experiencing the shortest average DOM at 72.

The key to selling your home at a good price to sale ratio is getting it priced right with the help of a Wilminton NC Realtor who knows the current market trends.

The key to purchasing a home in our market is having a Realtor who knows the market conditions overall and in the specific community that you want to purchase in. For market statistics particular neighborhood contact us. For more info on the Wilmington NC Real Estate contact us or visit our website: CoastHomeNorthCarolina.com

Week of July 19th
Price Range	Active	U/C	UC/to Pend	Expired (past 6 mos)	Sold (past 6 mos)	Avg List Price	Avg Sold Price	List/Sell %	Avg DOM

0-$100,000	55	19	35%	14	62	$81,756	$74,700	91%	68
$100-125,000	61	34	56%	5	71	$118,242	$113,730	96%	61
$125-150,000	154	146	95%	16	170	$143,869	$138,996	97%	59
$150-175,000	322	74	23%	41	318	$167,439	$162,958	97%	86
$175-200,000	285	94	33%	56	258	$191,822	$186,947	97%	72
$200-250,000	397	92	23%	52	380	$230,961	$225,269	98%	83
$250-300,000	359	87	24%	53	267	$280,787	$273,495	97%	95
$300-350,000	203	53	26%	34	137	$334,930	$323,325	97%	91
$350-400,000	185	26	14%	28	112	$382,933	$374,313	98%	107
$400-450,000	128	29	23%	16	67	$433,620	$422,866	98%	133
$450-500,000	120	23	19%	16	53	$491,239	$478,029	97%	124
$500-600,000	160	23	14%	29	69	$556,307	$538,939	97%	107
$600-700,000	92	20	22%	19	45	$664,992	$652,451	98%	135
$700-800,000	67	11	16%	12	32	$761,109	$739,595	97%	158
$800-900,000	47	4	9%	5	13	$852,780	$846,980	99%	126
$900-1M	29	3	10%	6	6	$956,040	63
1M+	141	14	10%	24	25				166
Total	2805	752	27%		2085

Wilmington NC First Time Home Buyer Credit~New Rules, Good Deal!

Fri, 05 Jun 2009 19:35:17 -0500

Wilmington NC Area First Time Buyers~ Breaking NEWS!

The $8000 Tax Credit for First Time * Home Buyers just got better! !
The U.S. Housing and Urban Development today announced that the Federal Housing Administration (FHA) will now allow home buyers to apply the $8,000 first-time * home buyer tax credit toward the purchase price/closing costs of a FHA-insured home. Housing Secretary Donovan was very hopeful that this new rule action will help to stabilize housing markets by across the country by an increase if future home sales.

New Tax Credit Rules Can Help More Buyers

Originally the American Recovery and Reinvestment Act of 2009 offered First Time Home Buyers a tax credit/refund of up to $8,000. The "old" guidelines allowed this credit to be received as a refund only after the Home Buyers filed tax returns with the IRS. The FHA's new rules allowing state Housing Finance Agencies and certain non-profits to "monetize" up to $8000 of the tax credit (which depends on the amount of the mortgage) so that borrowers can apply the funds toward their down payments.

Lower Monthly Payments Possible... Sound good?

First Time Home buyers * using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate.

Down Payment Requirements & Guidelines

Remember, Borrowers applying for an FHA-insured mortgage are still required to make a minimum 3.5 percent down payment on the purchase of their home. Current law does not permit approved lenders to monetize the tax credit to meet the required 3.5 percent minimum down payment, but, under the terms of today's announcement, lenders can now use the tax credit immediately as additional down payment, or for other closing costs, which can in effect create a lower interest rate & monthly payment. In addition to the borrower's own cash investment, FHA allows parents, employers and other governmental entities to contribute towards the down payment.

Projected Home Sales Expected to Climb with New Tax Credit

According to estimates by the National Association of Home Builders, the home buyer tax credit will stimulate 160,000 home sales, 101,000 of which will be first-time buyers who will receive the credit. Another 59,000 existing sellers will be able to buy another home because a first-time buyer purchased their home.

Buyer Beware! Scammers are on the Prowl!

Potential buyers should beware that their are all kinds of mortgage scammers out there, ready to pounce on the unsuspecting. It is crucial to consult with seasoned, respected financial services provider. The local Wilmington NC Area mortgage professionals that we recommend have the outstanding reputation, expertise, integrity & diligence, that every buyer deserves, and they are also FHA approved lenders.

Wilmington NC Homes for Sale

Are you ready to go shopping for your Wilmington NC area home with some Governments money? There are some terrific buys out there! Sellers are eager, prices are down, interests rates, according to the experts will not be going lower, and free money will only be available for a few more months!

Want to get moving??? Call us for more details & to see if you would like to team with us to help you achieve your goals! We'd love to show you what your money can buy. You just might be very surprised!

*Remember: definition of first time home buyer is anyone who hasn't owned a home in the past 3 years!

"Coast Home to North Carolina!"

Wilmington NC Home Buyers:: First Time Home Buyers Tax Credit May Help You!

Wed, 25 Feb 2009 18:14:37 -0600

Attention all Wilmington NC area first-time home buyers!! Did you know that you are eligible for a tax credit of $8,000 or 10% of the home's value, (whichever is less). This deduction can be taken on a 2008 or 2009 tax return!

After much anticipation and congressional haggling, the final details of the Stimulus Package in regards to First Time Home Buyers has been signed, sealed and presented to the public.

Some exciting details of the plan provide that even taxpayers who have paid less than $8000 in withholding will benefit from this provision! Depending on whether you owe taxes for the year, or whether you are expecting a refund, the Tax credit will either be added to you refund, or subtracted from what is owed.

Questions on the First Time Home Buyer Credit:

Who Qualifies as a First Time Home Buyer?

You may be surprised to learn that the definition of First Time Home Buyer includes anyone who has not owned a home in the past 3 years!

Are There Any Restrictions on the Home Buyers Credit?

YES!

Income must not exceed $75,000 for singles and $150,000 for marrieds ( however these buyers may receive a partial credit)
Buyers must occupy their purchased home for a 3 year minimum, otherwise the credit must be repaid.
Purchase must be made between January 1, 2009 and December 1st, 2009.

How do I claim the credit?

It will be claimed on your normal tax return on IRS form 5405 nothing else is required.
Taxpayers who have already filed 2008 returns can file amended returns to claim the credit.

Do I Have to Repay this Credit?

NO, unless you move out of your home before the 3 year occupancy requirement

According to the National Association of Realtors projections, the new Home Buyer Tax Credit will enable 300,000 buyers to purchase a home. Although we were all hoping for the Senate $15,000 tax credit proposal to pass, we are grateful for any incentive to help potential buyers to enter the market. Hopefully the economic Domino Effect of these future home buyers will be work for those in related home services fields who may have lost their jobs otherwise

Useful sites for further info:

Information about the First Time Home Buyers Tax Credit

View IRS Publication 5405: 2008 First time Home buyers Tax Deduction

Wilmington NC is terrific place to live! There are some great houses for sale in the Wilmington NC, Hampstead NC & Leland NC area! Like beach living?.. I can help you find a terrific deal on a home or condos in Wrightsville Beach, Carolina Beach & Kure Beach!

by Ginger Sala, Keller Williams Realty Wilmington NC Real Estate & Relocation Specialist serving the beautiful coastal NC areas of Wilmington , Hampstead, Wrightsville Beach, Carolina & Kure Beach, & Leland NC. Coast Home to North Carolina!

Buying a Foreclosed Home or Potential Foreclosure Property

Mon, 23 Mar 2009 17:44:00 -0500

So many buyers think buying a foreclosed home is easy as pie, and always a win win. As with any Real Estate purchase, education & preparation is the key to success. My good friend Bill Gasset, a top agent in Massachusetts has written a terrific synopsis of the foreclosure sale process. As he mentions, states will differ in their Foreclosure sale procedures & in the legal particulars. Our state, North Carolina is a deed of Trust State. Most foreclosures in NC are non- judicial, with a time frame of 3-4 months to closing. Courthouse foreclosures are much less common & allow for the owner in default to redeem their property within 10 days. Contact us for more info on Wilmington North Carolina Foreclosures, REO Properties, and pre-foreclosures for sale! Thanks Bill, for permission to republish this great post!

Via Bill Gassett Metrowest Massachusetts Real Estate (RE/MAX Executive Realty):

Are you considering buying a foreclosed property? Why not after all there are plenty of them all around the country and they can typically be bought at a discount to the present market value.

Buying a foreclosed home however, is not for the timid at heart and there are many things that buyers need to consider. If you have ever watched a late night infomercial you would think buying a foreclosed home can be bought for 50 cents on the dollar and immediately re-sold for a boat load on money. Don't plan on it!

Foreclosed homes generally can be purchased anywhere from 5%-20% below the current market value. Along with the chance for immediate equity comes a lot more risk. As a buyer of a foreclosed home you need to prepare yourself for a significant amount of due diligence.

As a twenty three year veteran to the Real Estate industry, I would highly recommend having an attorney represent your interests. One of the 1st things an attorney will do is a title search to see if there are any liens or other liabilities on the property. Things like unpaid taxes, mechanics lines, or court judgments are all possible land mines. The sooner you determine the legal status of the property the better as this will help determine if it is worth it to put in an offer.

The last thing you want to have happen is to think you just bought a home for $400,000 but then find out there is $75,000 worth of liens on the property.

Having your financing already lined up is a very important consideration as well because these kind of transactions tend to move very swiftly.

Unlike a traditional Real Estate transaction everything is "buyer beware". You will be buying a home in many cases in "as is" condition. In many cases a person who has lost their home because of financial difficulties probably has not had the funds to keep up with the maintenance.

There could be any number of problems that are not readily apparent. Issues with some of the more expensive components of a home such as heating, plumbing and electrical systems are all possible. Don't be surprised if there has been vandalism by the previous home owner or other vandals either.

I have gone in plenty of foreclosed homes where the owner has taken out their anger on the home. I have been in homes where the entire kitchen was removed. Some of the other more common issues today is the copper plumbing being taken out of a home. I know that may sound crazy but it happens!

Still interested in buying a foreclosed home? Here are the three scenarios when buying one:

A pre-foreclosure where you buy directly from the home owner before the bank takes over.

At an auction where you may be in competition with other buyers.

From a Real Estate company or the bank itself. This is known as an REO aka Real Estate owned.

In a pre-foreclosure you get to do all your various due diligence including any home inspections and a title search to make sure there are no liens. In a pre-foreclosure the owner signs over the deed to you and you take title to the property. In this scenario you acquire the mortgage a must bring it current giving the bank any missed payments.

Buying at an auction typically carries the most risk but also can come with the greatest reward. Auctions are handled differently from state to state. Some are held right at the property and others at the local court house.

Many times with an auction you are not allowed to inspect the property prior to the scheduled auction date. These types of sales tend to bring out more "investor" types as these properties can be bought on many occasions for a price that could warrant a "flip" where the buyer turns around and re-sells the property.

A buyer going to an auction will need to come up with a good size deposit and will be expected to show they have the ability to complete the purchase.

The REO scenario is usually the least risky as the bank has acquired the property and has wiped out the liens through purchase. Once a home is Real Estate owned many banks will list these homes with a Realtor. The buyer gets clear title, is most often allowed to inspect the home, and is allowed to have a mortgage contingency.

A few other very important considerations in the foreclosure process in the "pre-foreclosure period" and the "redemption period".

The pre-foreclosure period is the time between a previous owner's notification of default and the point when the property can be sold by the lender.

This time period is also when the existing owner can make good on the note and keep their home, or sell it themselves. So the shorter the pre-foreclosure period, the more advantageous it is for the new buyer.

The redemption period is the time when the previous owner is allowed to buy back the home after the lender has sold it. Again, the shorter this time period, the better it is for the buyer.

Some states have no redemption period, making it an optimal situation for someone to purchase.

These time periods vary depending on the State the property is located in. Knowing the exact redemption period is critical because you could end up losing time and money if the previous owner ends up taking back the home.

Most of your efficiency as a buyer depends on whether the state in which the property is purchased uses mortgages or deeds of trust for real estate transactions.

When a state uses mortgages, it means they also conduct their foreclosure proceedings through the courts. These transactions tend to take longer and have a range of potential problems. When a state uses deeds of trust, the foreclosures are non-judicial and tend to resolve quicker and with far less head aches.

In Massachusetts the primary means on foreclosure is non judicial (no court action). If the deed of trust, however, does not contain a power of sale language,(language in the mortgage that allows the mortgagee to sell the property) the lender may seek judicial foreclosure.

As few as 75 days may pass from the time a property owner receives a notice of default until the property is sold at a public foreclosure auction sale.

As you can see there is quite a bit to know when buying a foreclosed home. In addition to having a good attorney a knowledgeable local Realtor can be very important as well in helping to determine the market value.

If you are a Massachusetts home owner and have come across this article and may be potentially facing a foreclosure there are options to avoid this potential situation. See this avoiding Massachusetts foreclosure resource.

There are other options to avoid a foreclosure including a short sale which I have been successfully doing in the Metrowest massachusetts area. Here are a few articles worth reading:

Foreclosure avoiding it through a short sale or loan modification

Short sales and deed in lieu of foreclosure

______________________________________________________________________________________________________

About the Author: The above Real Estate information on Buying a foreclosed home was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Metrowest Massachusetts Real Estate and homes see Metrowest MA Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Douglas, and Framingham MA.

Click here to view Bill Gassett's Real Estate profile.

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Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 23 years.

Living in Wilmington NC: "Coast Home to North Carolina"

Tue, 06 Mar 2007 15:44:56 -0600

Living in the Wilmington North Carolina area is an awesome experience! We are so blessed to be surrounded by some of the country's most beautiful beaches and waterways, and graced with a charming Downtown nestled on the Cape Fear River, dotted by waterfront shops, restaurants and lovely historic homes.

The Intracoastal waterways and the barrier islands are big attractions for boaters and fisherman alike! Outdoor sports are popular here, with golf courses galore, professional soccer, tennis, jogging, surfing and UNCW sporting events, all having their local enthusiasts.

if you are interested in college credits for your self or your children? UNCW was recently rated by national magazines as one of the best University in the country in its price range.

Is dining out one of your pleasures? It is said that Wilmington NC has more restaurants per capita than any other town in the U.S.! And what awesome venues for dining! In one day you could enjoy a breakfast on the beach, lunch on the Intracoastal and dinner by the Riverfront!

The cultural scene is very impressive for such a town of this size & bustles with our very own symphony, museums, art galleries, theatres, and a proliferation of live music in our restaurants and clubs. During the season the Mayfaire Towne Center hosts free outdoor music concerts every weekend for the whole family, and there always seems to be a Festival or celebration of some kind going on!

Let's not forget the wonderful coastal climate in with its gentle change of seasons, and bright and sunny winter days! There are housing styles and prices to fit any budget. Taxes are low and there is a tremendous community spirit here with just about the friendliest folks you will find anywhere!

There is truly something for everyone here in our beautiful Coastal Carolina Home! And that is why we call it "Our Little Corner of Paradise"

We invite you to visit our website www.CoastHomeNorthCarolina.com for more information on our wonderful "Hometown"

"Coast Home to North Carolina!"

Wrightsville Beach Park Hosts FREE Sunday Afternoon Jazz Concert!

Sat, 16 May 2009 23:02:02 -0500

Looking for an enjoyable "recession proof "way to spend a Sunday afternoon in the park? Come out Sunday for one our area's many free local concerts!

The Cape Fear Jazz Society will present a terrific outdoor concert this weekend, sponsored by the Wrightsville Beach Department of Parks & Recreation at Wrightsville Beach Park! What a great opportunity to hear some of our awesome local Jazz groups while enjoying the Harbor Island breeze!

This years line-up kicks off with Grenoldo Frazier a Fats Waller style pianist and singer.
Next up is the amazing Frank Bongiorno Trio, led by UNCW's renowned Jazz Studies professor on the Sax, Andy Whittington on piano and Doug Irving on bass.

Also on the bill, closing out the show will be The Port City All-Stars, led by El Jaye Johnson on guitar and trumpet, Kevin Kolb on piano, Teddy Burgh on reeds, Tony Mallard on drums and Mike Hanson on percussion.

Refreshments will be available! Hot Dogs Ice Cream! Bring your chairs or blankets! and Picnics and Dogs are welcome!

When: 1-5 p.m. Sunday, May 17, 2009

Where: Wrightsville Beach Park, 321 Causeway Drive

Cost: FREE!

Enjoy!

"Coast Home to North Carolina!"

Airlie Gardens Wilmington NC: A Nature Lovers Paradise

Fri, 11 Jul 2008 02:11:14 -0500

Recently voted as one of Wilmington's "Best Kept Secrets" in a Travelocity Poll is a nature lover's paradise just a couple of miles down the road from Wrightsville Beach, called Airlie Gardens.

The The lush grounds of Airlie surrounded by Bradley Creek are graced with the sculptures of local artists and enhanced by winding walking trails with beautiful vistas at every turn. A public pier provides access to the Creek and in the center of the Gardens is a majestic 485 year old oak Tree.

Airlie Gardens is host to many activities throughout the year: The popular First Friday Night Jazz Concerts during the summer season, the down home Oyster Roast in the Fall, the awesome "Enchanted Airlie" during the Christmas Season are just a few of the Highlights.

Many opportunities are available for Educational Adventures, such as Kayak ECO Tours, and Bird Walks. A Summer Educational Camp is in session for children called Wild Adventures. The Gardens are also a fabulous outdoor setting for weddings!

No Cars are permitted in the Gardens so be sure you wear comfortable walking shoes. Arrangements for the disabled and elderly can be made.

Let's not keep it a secret any longer! Go out an enjoy this hidden treasure!

By Ginger Sala Wilmington NC Real Estate

Wilmington NC Concerts : Airlie Gardens Friday Nite Jazz

Fri, 06 Jul 2007 15:37:26 -0500

It's the first Friday of the month so that means Airlie Gardens is rolling out the rug for another night of wonderful Jazz music. Parking is sold out in advance at the grounds, but you can catch the Shuttle will leave every few minutes from the Galleria Parking lot on Wrightsville Av. ( Harris Teeter lot)

Bring your lawn chairs, picnic baskets, blankets, libations, and come casual or in your Sunday best...Whatever suits you fancy, enjoy a night of music amidst the beautiful live oaks! Try to get there early to stroll the exquisite grounds if you have a chance.

Tonights featured artists are the Jazz concert with the "Jim Felds Sextet." Tickets are $8 adults, $2 children, and free for Airlie members. For more information contact the Gardens at 910.798.7700.

Where: Airlie Gardens
300 Airlie Road
Wilmington, NC 28403

When: First Friday Nights