Almost every day, we get the question, "What is the difference in a foreclosure and a short sale?"  Aside from the fact that they are both distressed sales and the banks are involved, that is about all as far as similarities.

A foreclosure is owned by the bank.  They have completed all the legal requirements to regain legal ownership of the property as well as a clear and conveyable title.  Since the bank owns the property outright, they are much easier to purchase and closings can occur relatively fast. 

Short sales are not bank owned properties.  The sellers still own the properties but due to a hardship, they must sell the property and it is no longer worth the amount owed.  The seller typically does not have the ability to bring money to closing to cover the difference.  In this case, the property is advertised for sale at a price that induces an offer.  The offer must be contingent on bank approval.  Once the contract is signed, it is sent to the bank for their approval.  The process of waiting for bank approval is what frustrates most buyers (and sellers).  There is no guarantee that the bank will accept the short sale offer or any offer that is less than what is owed.  Months can pass before the bank responds so if the buyer needs to close on a home within 2-3 months, a short sale may be an exercise in frustration and futility.

In either case, buyers need to understand that the property is typically being sold "as is."  It can be wise to have licensed contractors or inspectors survey the property prior to getting involved.

More and more buyers are finding themselves in multiple offer situations and buyers are losing out.  Why? 

Foreclosures, short sales, and even equity sellers are providing wonderful opportunities for buyers. With pent up demand and high affordability, buyers are really coming out and snatching up good properties.  Investors are also scouring the deals daily. Here is how to avoid multiple-offers and how to deal with them if you find yourself in that situation.

If you find a really good home, be prepared to move immediately.  Funds should be relatively liquid or pre-approvals for loans should be in place.  

Low-ball offers can kill a deal quickly.  If you are not picky about your home, you can risk more.  However, finding the right home for you is not always easy and a low ball offer can cause a seller to refuse to deal with you-even if you up the offer.

If you are notified that there are other offers on the property and you still want to give it a shot, make a clean offer.  Offer no more than you are willing to pay and no less than it is worth to you.  You want to feel good about it if you win the bid and OK if you lose (because it simply was not worth any more than you offered).  It can be heartbreaking to lose the perfect home so be reasonable.  You agent should provide you with market data so you can be assured it is a fair deal.

One of the best ways to be first to a property is to sign up for a listing notification account.  We offer such a service in our Wilmington NC Real Estate area on our Home Search Site: www.HomeSearchWilmington.com

We are still settling in to 2012 with a busy start to the year.  I want to thank you for your calls, emails and interest.  I am sure 2012 will be a famous one indeed as this is THE year to take advantage of home prices and affordability.  

David Flory of Cunningham and Company writes:

• Currently our year end numbers are very close to last year this time – our units are up by 18 and our average sold price is only down by $8,583 or 3.7%

• Our Median sold price increased this month by 10.9% from last month. 

• Market Absorption rate – The number of homes sold in December, 371 divided by the current listing inventory, 3,751 gives us a 10.1 month supply of single family homes. This decreased 2.3 months from last month. We need to keep this inventory under 12 months supply. With rates where they are and plenty of inventory; we can get this number down even more.

• List to Sold price ratio – the average list price of the sold properties is $228,470 and the average sold price is $215,056 for December which gives us a 94.1% list to sold price ratio – an increase from last month.
• Seller Concessions – We had 29.6% of sold properties report a sales concession for December, a decrease of less than 1%. We want this number to go lower.

• Days on Market – The average days on market for the sold properties are now at 152 for December a 13 day decrease from last month. Only 12.9% of the properties were placed under contract in less than 15 days for the month of November.

• Wilmington MLS Quarterly Average Sold Price – I have charted each quarter average sold price and our peak quarter was 2^nd quarter of 2007 with an average sold price of $280,354 and our the last quarter or 2011 was our lowest at an average sold price of $214,224 which gives us about a 23.6% decline in our average sold price spread over almost 5 years.

• Foreclosures as reported by the North Carolina Administrative Office of the Courts, I have added all three counties and worked it as a moving five month average, our peak seems to have been about August of 2010 and we are down about 42% since then. This is looking better.

Once the foreclosures have flushed out, the prices will begin to increase again.  We are already seeing signs of stability-long term signs.

Whether you are looking for a home to live in, or an investment property, I urge you to get your radar turned on and tuned in. If you have not already done so, get on our Instant Property Email Notification program.  You can customize your own search and get updates immediately as properties come on to the market. Click here to begin: www.HomeSearchWilmington.com

Have a great weekend and stay safe!

We can see the evidence of price/ value adjustments that have continued over the year.  Prices were down roughly 7% since last year and units sold was down 4%.  This directly affects total dollar sales volume which is down 13%. 

Once you look at December 2011 vs November 2011, however, we see an increase in price, units sold and total dollar volume.  We also see a decrease in listings and this is critical.  When supply decreases, prices increase.

We will have  more detailed look at 2011 once we have completed analyzing the data. Check out my brief video below:

The first thing you will notice here is a lot of negative signs!  While we want to see positive percentages here, we have to remember that this is partially due to the seasonality of real estate.  Prices are lower and inventory drops this time of year.  Foreclosures and short sales continue to influence the market and banks (and Realtors) are getting better at processing short sales.  (I said better-not great!)

Monthly fluctuations are not what we want to focus on but rather the long term trends.  Interest rates are phenominal and properties are selling.  We will keep you updated on the trends so stay tuned!

I hope you have a Merry Christmas and Happy New Year!  God bless!

Overall we are still bouncing up and down with average sales price up by over 4% from last month but down almost 3% since last year this time.   Units sold are down 8% from September but up 10% from October 2010.  I would like to continue to see a reduction in homes inventory in order to bring supply and demand closer and balance out the market.  We are maintaining a 12.5 month Absorption rate.

Interest rates continue to decline and averaged 3.99% for October.  With excellent affordability and availability of homes, we are looking at an outstanding opportunity for buyers!  Have a great week and give us a call if you have any questions!

Total units sold (and total dollar volume) continues to be up in double digits from the previous month as well as one year ago.  This is important as it shows our region is doing things that many parts of the country are not-and that is selling houses. 

The average sales price vaccilates up and down around each month.  This seems to indicate stability or a "leveling" of values. If prices are indeed bouncing along the bottom, we will only be able to tell when it becomes history.

The Days ON Market (how long it takes a house to go under contract) is up from last year but down slightly from the previous month.

Pending sales are those in which a purchase agreement has been signed by a buyer and seller but it has not closed yet.  The pending sales are up slightly from July and up 11% from one year ago.

For the chart people:  Go to the Wilmington NC Home Sales Market Report for more details.

From July 2011 to August 2011

• Total units sold: +12%
• Average sales price: -3%
• Median sales price: -2%
• Total dollar volume: +9%
• Days on the market: -4%
• New listings: +4%
• Pending Sales: +2%

From August 2010 to August 2011

• Total units sold: +13%
• Average sales price: -0.34%
• Median sales price: -6%
• Total dollar volume: +13%
• Days on the market: +17%
• New listings: -20%
• Pending Sales: +11%

Remember this quote:

My prediction for the next two to three years is that we are going to have a very strong investor market.  We are analyzing sales and we are seeing a big increase in cash buyers and investors.  These folks recognize the opportunities and are getting in on them before it is too late.

We are ramping up our Investor Agents designations (CIAS) and are building a great business model helping folks build generational wealth for them and their families.  More on that to come so stayed tuned!

Wilmington NC Real Estate Sales - Chris Baynes REALTOR Chris Baynes and Associates is one of the areas most successful Realtor Teams.  We specialize in helping buyers and sellers with real estate services in the greater Wilmington NC area including Wrightsville Beach, Carolina Beach, Kure Beach, Castle Hayne, Hampstead, Leland, Belville, New Hanover County, Brunswick County and Pender County, and all Wilmington NC Real Estate.  (910) 470-4408

Wilmington NC Real Estate Sales - Chris Baynes REALTOR Chris Baynes and Associates is one of the areas most successful Realtor Teams.  We specialize in helping buyers and sellers with real estate services in the greater Wilmington NC area including Wrightsville Beach, Carolina Beach, Kure Beach, Castle Hayne, Hampstead, Leland, Belville, New Hanover County, Brunswick County and Pender County, and all Wilmington NC Real Estate.  (910) 470-4408

Total units sold is up from May but down from last year.  This is partly due to the Home Buyer's Tax Credit issued last year.  The average sales price is up slightly from May but down from last year.  Single month swings are normal-long term trends are what we want to see here. The total dollar volume of sales is up 23% but down 11% from last year-also likely due to the Tax Credit influences of last year.

The DOM (days on market a listing takes to go to contract is up 23% since May and a whopping 40% since June of last year.  So, it will take longer to sell-it is important to price and present those properties very well!  New listings are down in both categories-this is a good thing.  If you reduce supply, we should increase demand though we need to reduce supply a lot more!

Lastly, Pending sales, our forward looking indicator, is down 11% but up 5% from last year.  Again, trends are important to follow here. 

These sales numbers are certainly being affected by the incentives brought in early last year so we have to consider that when looking at year over year data.  We are seeing positive numbers in most all areas which over time, will help us to see when we have truly hit bottom.  For now, it appears we are very close to the bottom and as long as you are not buying short term, you should be just fine.  Enjoy those interest rates while you can!

From May 2011 to June 2011

• Total units sold: +12%
• Average sales price: +9%
• Median sales price: +4%
• Total dollar volume: +23%
• Days on the market: +14%
• New listings: New Listings -1%
• Pending Sales: -11%

From June 2010 to June 2011

• Total units sold: -11%
• Average sales price: -1%
• Median sales price: -5%
• Total dollar volume: -11%
• Days on the market: +40%
• New listings: -18%
• Pending Sales: +5%

Wilmington NC Real Estate Sales - Chris Baynes REALTOR Chris Baynes and Associates is one of the areas most successful Realtor Teams.  We specialize in helping buyers and sellers with real estate services in the greater Wilmington NC area including Wrightsville Beach, Carolina Beach, Kure Beach, Castle Hayne, Hampstead, Leland, Belville, New Hanover County, Brunswick County and Pender County, and all Wilmington NC Real Estate.  (910) 470-4408

I was speaking with an agent the other day who had a client, we'll call him "Joe," that was quite upset he was not getting the deal he thought he was going to get. Joe and his agent had been house hunting and like many people these days, they really want to get a "steal of a deal." However, when his appraisal came back, it was essentially at the price he agreed to pay for the property.  Joe was furious to find his steal was not the stuff made popular by the afternoon cable shows with titles like "Steal This House!" In fact, based on the appraisal, he was just ordinary Joe paying market value.

Now understand, there is nothing wrong with wanting to get a good deal on a property.  Joe and his agent shopped and toured homes until he found one that worked well, they negotiated a great price, and put the contract together.  They knew, based on all the properties they had seen, this was a great deal. What happened next happens quite often, in Wilmington NC and all markets and all price ranges. 

The bank that Joe is using to provide financing is sent a copy of the contract.  The bank then orders an appraisal to make sure they have a proper value to protect their valuable cash interest.  The appraiser (who now has a copy of the contract) will visit the property and pull comparable sales. As the appraiser gleans the details from enough recent sales, his goal is to reach a reasonable conclusion as to the value of the property.  If he is having trouble reaching value, he will continue to look until he finds enough value or he will provide an appraisal that shows the property is not at contract value. 

There is very little motivation for an apprasier to continue to work to increase the value of a property past the contract sales price. Unless there is overwhelming evidence that there is higher value, the appraiser has done his job to protect the bank.  That is why many appraisals come in at or very near the purchase price.

So, if you are like Joe, don't think you did not get a great deal based on the appraisal.  The value is what you are willing to pay for it as long as you are not under duress and there are a fair amount of homes to choose from!

Way to go Joe!

Wilmington NC Real Estate Sales - Chris Baynes REALTOR Chris Baynes and Associates is one of the areas most successful Realtor Teams.  We specialize in helping buyers and sellers with real estate services in the greater Wilmington NC area including Wrightsville Beach, Carolina Beach, Kure Beach, Castle Hayne, Hampstead, Leland, Belville, New Hanover County, Brunswick County and Pender County, and all Wilmington NC Real Estate.  (910) 470-4408

Here is the skinny:

From April 2011 to May 2011

• Total units sold: Up 3%
• Average sales price: Up 5%
• Median sales price: Up 4%
• Total dollar volume: Up 8%
• Days on the market: Down 1%
• New listings: Down 9%

From May 2010 to May 2011

• Total units sold: Down 10%
• Average sales price: Down 1%
• Median sales price: Down 8%
• Total dollar volume: Down 11%
• Days on the market: Up 18%
• New listings: Down 7%

Housing affordability is phenomenal. Even new construction is aggressively priced. With low interest rates, plenty of inventory, and motivated sellers, buyers are poised to do well.  Firmly in the driver seat, buyers realize resale homes are where the highest value is and the reality is that many sellers are appreciative of offers and are very willing to make most reasonable repairs on homes (unless it is a short sale or foreclosure) and some concessions.

Our team has been fielding a flurry of calls from potential buyers and we are busy writing and negotiating contracts.  The folks that have been "sitting on the fence," realize that the market is much safer.  They also realize that even if values slip a little more, they are confident low interest rates will offset any additional slippage of values versus higher rates that erode affordability. The bottom line is that they are tired of paying rent and want to own their own home so they can create the perfect place for their families. Now IS a good time to buy.

Wilmington NC Real Estate Sales - Chris Baynes REALTOR Chris Baynes and Associates is one of the areas most successful Realtor Teams.  We specialize in helping buyers and sellers with real estate services in the greater Wilmington NC area including Wrightsville Beach, Carolina Beach, Kure Beach, Castle Hayne, Hampstead, Leland, Belville, New Hanover County, Brunswick County and Pender County, and all Wilmington NC Real Estate.  (910) 470-4408

An appraisal is simply an opinion based on as many facts as the appraiser can find.  When these people are under paid and working out of their familiar areas, it is easy to see why appraisals can be further "off" than expected.

I am of the school of thought that market value of anything is worth what someone who is reasonably educated and not under duress, is willing to pay for something.  Some of our clients have very specific requirements in a home.  There may be only one of those "special" homes on the market.  That property will be worth a little more to them because it satisfies their needs and they, after seeing their options, are willing to pay that price.  It should be that simple but it is not.  The appraisal will dictate the value of which the bank will lend-not the desire of the client to purchase the property.

Sometimes, appraisals come back and they are short.  In other words, there is not enough proof that the property supports the contract value, therefore, the bank will only provide financing based on the lower of the two: purchase price or appraisal value.  Sometimes, properties are so unique that there really aren't any appropriate comparables.  It may also be that anything similar may not haev sold for several years.  Performing an appraisal is very difficult task in many situations but a good local appraiser will be able to work through those issues.

In the case of a "short" appraisal, the buyer then has three options: 1) Bring extra money to closing to cover the difference.  2) Renegotiate with the sellers to lower the price.  3) Walk away from the property.

The buyer (or seller) may also dispute the appraisal and if they can provide enough supporting evidence, they may, in some cases, have an appraisal modified if the bank or appraiser is willing to keep an open mind. You may need to hire an independent appraiser to assist you.

If your appraisal comes in low, know your options.  Get a copy of it and review the comparable properties used and that will help you understand why the value came in where it did.  Appraisers are some of the hardest working people out there but there are some that are certainly better than others!

In our next segment, we will discuss more about appraisals and how they are influencing the market, why there are problems with some of them, and setting your expectations once an appraisal has been ordered.

Wilmington NC Real Estate Sales - Chris Baynes REALTOR Chris Baynes and Associates is one of the areas most successful Realtor Teams.  We specialize in helping buyers and sellers with real estate services in the greater Wilmington NC area including Wrightsville Beach, Carolina Beach, Kure Beach, Castle Hayne, Hampstead, Leland, Belville, New Hanover County, Brunswick County and Pender County, and all Wilmington NC Real Estate.  (910) 470-4408

One thing we have to keep in mind is that last year, in the spring, we were experiencing the Home Buyer's Tax credit-remember that?  Qualifiying buyers could get up to $8,000.00 credit on their taxes and that really caused some strange peaks and valleys in sales.  Many folks accelerated thier purchase plans and inventory dipped-especially "affordable" homes.

The tax credit is now gone, distressed properties are still out there and yet sales are happening and in spite of the numbers we see in April, we feel the energy in the air and the number of buyers in the market is noticibly increased.  There is an ever expanding younger generation of potential buyers that are capable of purchasing homes.  Most people still want the joy and benefits of owning thier own home. We are seeing the investors back in the market and that is a good inidicator of an overall real estate market that is on its way to recovery.

Here we go:

From March 2011 to April 2011

• Total units sold: Down 8%
• Average sales price: Down 15%
• Median sales price: Down 8%
• Total dollar volume: Down 22%
• Days on the market: Down 6%
• New listings: Down 12%

From April 2010 to April 2011

• Total units sold: Down 20%
• Average sales price: Down 7%
• Median sales price: Down 10%
• Total dollar volume: Down 25%
• Days on the market: Up 22%
• New listings: Down 23%

What do we know? 

1. Sales numbers vary susbstantially from month to month
2. Foreclosures and short sales continue to affect the market and will continue to do so through the year
3. Spring has brought out a new wave of buyers
4. Pent-up demand for homes continues and people are taking advantage of the great opportunities
5. Interest rates are very good
6. Great pricing and home condition are keys to selling in this market

Wilmington NC Real Estate Sales - Chris Baynes REALTOR Chris Baynes and Associates is one of the areas most successful Realtor Teams.  We specialize in helping buyers and sellers with real estate services in the greater Wilmington NC area including Wrightsville Beach, Carolina Beach, Kure Beach, Castle Hayne, Hampstead, Leland, Belville, New Hanover County, Brunswick County and Pender County, and all Wilmington NC Real Estate.  (910) 470-4408

"Lawrence Yun, NAR chief economist, said home sales activity has shown an uneven but notable improvement. “Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own,” he said."

Read the full article: http://www.realtor.org/press_room/news_releases/2011/04/phs_march

Wilmington NC Real Estate Sales - Chris Baynes REALTOR Chris Baynes and Associates is one of the areas most successful Realtor Teams.  We specialize in helping buyers and sellers with real estate services in the greater Wilmington NC area including Wrightsville Beach, Carolina Beach, Kure Beach, Castle Hayne, Hampstead, Leland, Belville, New Hanover County, Brunswick County and Pender County, and all Wilmington NC Real Estate.  (910) 470-4408

In as much as we have seen tough months in the Wilmington NC real estate market (and nationally), we can certainly see some very good months as well and March was no exception.  It is only natural to for Americans to be positive and enthusiastic survivors.  Couple the positive attitudes with beautiful spring weather and you have a recipe for a great spring real estate market.

Let's look at March 2011 Wilmington NC real estate sales data and historical numbers:

From February 2011 to March 2011

• Total units sold: Up 52%
• Average sales price: Up 22%
• Median sales price: Up 8%
• Total dollar volume: Up 86%
• Days on the market: Up 20%
• New listings: Up 21%

From March 2010 to March 2011

• Total units sold: Up 6%
• Average sales price: Up 10%
• Median sales price: Up 6%
• Total dollar volume: Up 17%
• Days on the market: Up 15%
• New listings: Down 18%

February 2011 was a mixed bag of sales data that showed us some signs of pricing stability.  March is making up some of the sales volume (number of sales).  Pricing is continuing to show stability and even some recovery.  Foreclosures still dominate the deals out there but folks looking to buy a home for themselves are realizing that it is difficult to find the "right" home in a foreclosure-especially with many requiring a lot of capital to bring it up to their standards. 

A word of caution to those that are selling.  Do not think that a general trend over a month or two of increasing value means we are back in the days of a seller's market.  Pricing your home with a "compelling" list price and having it in excellent condition is the best bet for getting your home sold.  Pricing "high" will net you a high "Days on the market" stigma and you may find yourself with a problem that will not go away.

If you are buying, consider the reasons for your purchase.  Investors can risk losing a house with a lower offer.  If you are buying a home to live in, there are other important things to consider besides money.  Safety, location, features, and a place to create many lifelong memories are most important.

Whether you are thinking of buying or selling in the Wilmington NC real estate market, have your agent run a "competitive market analysis" on the property in question and you will have the information you need to make the best decision.

Wilmington NC Real Estate Sales - Chris Baynes REALTOR Chris Baynes and Associates is one of the areas most successful Realtor Teams.  We specialize in helping buyers and sellers with real estate services in the greater Wilmington NC area including Wrightsville Beach, Carolina Beach, Kure Beach, Castle Hayne, Hampstead, Leland, Belville, New Hanover County, Brunswick County and Pender County, and all Wilmington NC Real Estate.  (910) 470-4408

The Azalea Festival is always an exciting time for us here in Wilmington as it ushers in spring in a grand fashion.  By the time it starts, there has been plenty of warmer weather, greening grasses, and flower and tree blooms galore!  We expect to have over 300,000 people visit and take part in the fun.  The ocean is still a bit cold but many times the weather is just right to relax on the beach. 

This is also a wonderful time to set aside a little time for a discovery visit to the area-if you are thinking of making a move. If you want to see what types of homes are available here, make a list of your personal preferences and search Wilmington NC Area Homes.  Let us know and we will get a relocation package with lots of great information.  I hope you make it down soon!

PS: Don't forget to check out our inspirational Morning Coffee each week!

Wilmington NC Real Estate Sales - Chris Baynes REALTOR Chris Baynes and Associates is one of the areas most successful Realtor Teams.  We specialize in helping buyers and sellers with real estate services in the greater Wilmington NC area including Wrightsville Beach, Carolina Beach, Kure Beach, Castle Hayne, Hampstead, Leland, Belville, New Hanover County, Brunswick County and Pender County, and all Wilmington NC Real Estate.  (910) 470-4408

Here are February's data and historical numbers:

• January 2011 to February 2011
  • Total units sold: Down 7%
  • Average sales price: 0% change
  • Median sales price: Up 3%
  • Total dollar volume: Down 7%
  • Days on the market: Down 1%
  • New listings: Up 25%

• February 2011 vs February 2010
  • Total units sold: Down 11%
  • Average sales price: Down 17%
  • Median sales price: Down 9%
  • Total dollar volume: Down 27%
  • Days on the market: Down 1%
  • New listings: Down 18%

What we are seeing is stability in pricing, a fair numbers of units selling, and some seasonal increases in listing inventory.  As long as prices continue to remain stable, we should continue down this apparrent road to recovery. 

One issue that could hold up recovery or at least stall it, is the release of foreclosures that have been simmering in the big banks' pot while they improve thier foreclosure procedures.  Regardless, buyers are seeing the tremendous opportunities to purchase properties at historicly low prices and interest rates.  Without a doubt, affordability is at an all time high. 

Wilmington NC Real Estate Sales - Chris Baynes REALTOR Chris Baynes and Associates is one of the areas most successful Realtor Teams.  We specialize in helping buyers and sellers with real estate services in the greater Wilmington NC area including Wrightsville Beach, Carolina Beach, Kure Beach, Castle Hayne, Hampstead, Leland, Belville, New Hanover County, Brunswick County and Pender County, and all Wilmington NC Real Estate.  (910) 470-4408

Buyers and sellers both use Realtors so let's break this down a bit more.  We will start with what the sellers will want to know.

1. Firm:  Is the agent working with a reputable firm with a good presence in the marketplace?
2. Does the agent have a written marketing plan?  How can you know what an agent will do for you if there is no written marketing plan?  If you are interviewing agents, make sure you have a clear written idea of what the agent and thier firm can offer.  You did not hire the agent to put a sign in the yard and list it in the MLS.  You hired them because they should have a complete and thorough means to get your property maximum exposure.
3. Does the agent invest any of thier own money into the marketing of thier listings?  Some agents spend a lot of money gaining additional exposure for your property while other agents rely on the firm to do all the advertising.  Here are some questions to help you determine this: Do you have your own website?  Do you have lead capture systems? Do you have an IVR ?System?  Do you provide virtual tours for all your properties?  What new technologies are you using to help get properties sold?
4. CMA (comparative market analysis).  This is the all important part of determining the market value range for your property.  It should be thorough and consise.  Properly pricing a property is the single most effective way to get it sold.  Price will overcome many difficiencies.
5. Staging:  Is the agent giving you candid advice on preparing the property for sale?  Do not be offended if an agent suggests decluttering, depersonalizing, changing paint colors, or making repairs and improvments.  These issues are often the reason homes do not sell or must be sold at a discount.
6. Team:  Your agent does not have to have a team to be effective but they certainly help.  Having specialists on a team may ensure a more effiecient and smoother experience. 
7. Availability: Find out ahead of time when your agent will be available if you need them.  Setting expectations up front will avoid frustrations later.

** Print ads:  I thought it appropriate to add this in here.  Print advertising effectiveness is different in all markets.  Some areas do quite well with print ads while other areas have moved away from print.  The internet has changed the way people find homes.

Buyers needs are different.  They should focus on the following questions and issues with regards to a Buyer's Agent:

1. Ask them about thier experience in the real estate business? 
2. How many transactions have they closed?
3. Do they have a team to support them? 
4. Make sure your agent is listening and asking questions.  Knowing your needs is critical to getting you in the right property at a good price.
5. DO NOT be offended when an agent questions you about how you intend to purchase the property (cash or loan). If  you will be getting a mortgage, make sure you have been pre-approved. It is part of the job and is required.  Knowing your price range and ability to purchase should be set before viewing any homes or property.
6. Be clear about what you want.  Make sure all decision makers are invloved up front.  (Spouces, parents, etc.). 
7. When you find the property you like, make an offer accordingly.  If you are easily satisfied with many homes on the market, you may be able to negotiate a bit  harder.  If your home needs are more unique, make a fair offer.  Do not assume all sellers have to sell and that it is OK to low-ball offers.  Good homes priced well will sell and you may risk losing a property if you insult the seller.  You buyer agent will review comparable properties with you and that will show you what fair market value is.

Choosing the right Realtor is one of the best decisions you can ever make.  You can develope a long term trusting relationship and feel safe knowing that your best interests are being looked after.  Great agents are not after the sale-they want future referrals from satisfied clients. 

Wilmington NC Real Estate Sales - Chris Baynes REALTOR Chris Baynes and Associates is one of the areas most successful Realtor Teams.  We specialize in helping buyers and sellers with real estate services in the greater Wilmington NC area including Wrightsville Beach, Carolina Beach, Kure Beach, Castle Hayne, Hampstead, Leland, Belville, New Hanover County, Brunswick County and Pender County, and all Wilmington NC Real Estate.  (910) 470-4408