"Good Neighbor Next Door" Program from US Dept. of HUD

Posted in Foreclosures in SE NC, Market Reports, News You Can Use, Team Gale on Oct 05, 2016

The US Department of Housing and Urban Development aims to "create strong, sustainable, inclusive communities and quality affordable homes for all."

One of the ways HUD is working to strengthen the market and empower consumers is through the GOOD NEIGHBOR NEXT DOOR SALES PROGRAM which offers certain HUD-owned properties at a 50% discount for a period of 7 days in targeted "revitalization areas."

"Good Neighbor Next Door (GNND)" candidates are required to live at the property for three years as their sole residence, and agree to certify their eligibility every year. Candidates and/or their spou...

USDA Financing Drop

Posted in News You Can Use, Team Gale on Sep 28, 2016

Effective October 1, 2016, the US Department of Agriculture Rural Housing Service will lower upfront and annual fees charged to lenders through the Single Family Housing Guarantee Program.

Low delinquency and foreclosure rates were cited as just cause for the decrease. 

Local REALTOR Tom Gale commented, "The funding fee is going from 2.75% to 1% and the annual fee is going from .5% to .35%, saving buyers a good amount of money...  The USDA loan program will be reviewed every year for potential tweaks one way or another, but very good news for buyers getting 100% financing in the next 12 months...

Unparalleled Exposure!

Posted in Market Reports, News You Can Use, Team Gale on Sep 21, 2016

Team Gale has had incredible activity online this summer.

Our listings get enhanced and promoted across dozens of third-party real estate sites, as well as on our Team's various social media platforms.

REALTOR.COM alone produced this traffic:

Not all realtors are alike, and not all realtors can deliver this kind of activity!

If you've been on the fence about selling your home, call Team Gale today for a complimentary market analysis of your property. Our agents are on duty daily at 910-541-1212

How is Housing Affordability Determined?

Posted in Buyer Tips, News You Can Use, Team Gale on Sep 01, 2016

The National Association of Realtors defines the housing affordability index as the measure of "whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level based on the most recent price and income data." 

Basically, the higher the index the more affordable homes are at the time. "100" seems to be the magic number, alluding that the applicant meets the average income standards and can afford an average priced home.

John Cunius with Alpha Mortgage in Wilmington, NC notes that, "Although there has been a slight drop in affordabilit...

Our market is very strong again right now and continues to improve...

Posted in Market Reports, News You Can Use, Team Gale on Aug 22, 2016

The Washington Post reports that "Areas hit hardest by the real estate bust are now seeing the highest gains."

Local REALTOR Tom Gale, of Team Gale at Coldwell Banker Sea Coast Advantage, breaks down what this upswing in development and sales means for our area:

"In investment markets like Miami, it’s good to see that the banks are requiring significant downpayments.  When buyers have “skin in the game,” they’re less likely to walk away from their investment.  Combined with the more stringent credit requirements, I feel better about this strong housing market than the last hot market.

Although...

5 Home "Improvements" That Will Hurt Your Listing

Posted in Home Improvement, News You Can Use, Team Gale on Aug 17, 2016

There are a few DIY "ready to list" tips that you may have seen or heard that can actually work against you with prospective buyers.

The National Association of REALTORS magazine chronicled steps homeowners often take that can ultimately prove detrimental in the selling process. It is possible to overdo it in prepping for photos or a showing, and buyers will notice things that are "too perfect" or that are so starkly new it distracts from the homey-ness of the space.

1.     Do not exceed the recommended wattage on your lamps and lights. You want a well-lit home, but not at the risk of overheat...

Amendment to Zoning in Historic District Proposed

Posted in Market Reports, News You Can Use, Team Gale, Wilmington NC Real Estate on Aug 17, 2016

This month, the Wilmington City Council called upon the community to weigh in on a proposed change to allowable lot size in the historic district. Two council members, Paul Lawler and Kevin O'Grady, "expressed concerns that the amendment could lead to developers tearing down historic homes in the area in favor of more homes on smaller lots."

Two local groups, Historic Wilmington Foundation and Residents of Old Wilmington, who would certainly want to weigh in, were in the dark until recently. Sylvia Kochler, president of Residents of Old Wilmington, notes that "If you're going to have a zoning ...

The Pointe at Barclay

Posted in Local Business Profile, News You Can Use, Team Gale on Aug 10, 2016

Construction is well under way at the new mixed-use complex along South 17th Street in Wilmington, with the flagship businesses proposed to open in the first quarter of 2017.

Hill Rogers, the broker-in-charge of Cameron Management, notes that "It's a mix and match. You go with local folks that have proven to  be successful and popular, and that adds credibility. But you also want to bring in things that are new and people haven't had before."

Stone Theaters, a 14-screen movie house, will be the centerpiece of The Pointe.

Local restauranteurs Ash Aziz and BT Corrigan have been tapped to bring n...

Zillow Acquires Bridge Interactive...

Posted in News You Can Use, Team Gale on Aug 03, 2016

...one step closer to non-REALTORS dictating so much about the housing market!

PRNewswire covers the purchase:

Zillow Group houses a portfolio of the largest real estate and home-related brands on the Web and mobile. The company's brands focus on all stages of the home lifecycle... Zillow Group is committed to empowering consumers with unparalleled data, inspiration and knowledge around homes, and connecting them with the right local professionals to help.

Bridge Interactive provides brokers and {multiple listing services} with robust listing data management capabilities. Brokers and MLSs that...

Five Plants to Help Keep Away Mosquitoes

Posted in Home Improvement, News You Can Use, Team Gale on Jul 20, 2016

Are your once delightful summer evenings on the porch being interrupted by the obnoxious presence of mosquitoes?

Here's a few plants you can grow that will naturally repel these airborne pests...

Basil

Peppermint

Lavender

Catnip

Lemon Balm

For more info on natural repellents, visit Rodale's Organic Life.