Real Estate Information

Published in Wilmington StarNews

According to Money magazine, Wilmington is one of the hottest real estate markets in the country. Bucking national trends, Wilmington-area homes experienced a 9.1% appreciation in value in 2007, with a median price of $272,000. The booming real estate market is attributed to Wilmington's fast growing population.

The basic laws of supply and demand still apply even in a stressed market. Job growth and rising incomes still push housing demand, leading to increased prices. Robert Shiller, professor of economics at Yale University, says, "Along with previous price gains, job growth is by far the most significant variable in forecasting economic growth."

This means buyers shouldn't worry about collapsing home prices in their area if local industries are expanding and companies are opening new locations. This year, GE-Hitachi and Invista both announced plans to expand their Wilmington operations and create 950 new jobs. Economic experts believe vendors and other area businesses that support them will add 700 additional jobs.

One of the best ways to gauge a region's economic forecast is to consult with a local Realtor. Their experience and knowledge of the market is priceless when making a decision about where to invest.

Every seller wants there home to sell fast and bring top dollar. How does that sound to you? Well...it's not luck that makes that happen. Careful planning and knowing how to spruce up your home will send buyers scrambling to get there checkbooks. Below you will find a list of how to prep your home and turn it into an irresistible home.

1. Disassociate Your Self With Your Home ~ 

A. Say to yourself "This isn't my home, it's a house; a product that must be sold...think of it like a pair of shoes in the store.

B. Make a decision to "Let Go" of your emotions and focus on the fact that this house will no longer be yours.

C. Picture yourself...handing the keys over to the new owners.

D. Don't look backwards look foward into the future.

2. De-Personalize ~ Pack up your personal photographs. Buyer's cant see past personal belongings, and you don't want buyers to be distracted. You want these buyers imagining there own personal belongings on the walls, and they cant invision these things if yours are there. You want your buyers to say..."I can see myself making this home"

3. De-Clutter ~ People collect an amazing amount of junk. Think this way; if you haven't used it in a year, you don't need it.

A. Donate items you don't need

B. Pack up knickknacks

C. Clean off counter tops

D. Put essentials that are used daily in a small box so they can be stored in a closet when you are not using them.

1.  Not using a Realtor.

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2.  Over-Pricing