The Week in Review Wilmington NC April 26 2008

 

The Week in Review

…your Wilmington Connection

April 26th, 2008

Relay for life this week in Wilmington and what a beautiful day for it, the sun was shining and and it was 84 degrees. Not bad for spring time.

 

Today was the first day of the 21st annual parade of homes in Wilmington,North Carolina area is one of the largest in the southeast, and this years event promises to be better than ever.

It will be running this weekend and the following weekend on Saturday and Sunday, May 5th and 6th. This year’s Parade of Homes covers a larger area – the four-county area of New Hanover, Brunswick, Pender and Onslow, and there is something for everyone and in every price range from $130,000 to 4 million

Here is what has been happening in the real estate market this week in Wilmington

Joseph A. LaVorgna, chief economist at Standard & Poor’s said in a note to investors

Tuesday that falling home prices aren’t such a bad thing, “On one hand they are causing negative wealth effects and forcing some new mortgages underwater; but on the other hand, this is a necessary, albeit unpleasant, prescription for restimulating housing demand,” he said.Sales were expected to drop 1.6% to a seasonally adjusted annual rate of 4.95 million units, down from 5.03 million in February, according to the consensus forecast of Wall Street economists surveyed by Thomson Financial.Lawrence Yun, the chief economist of the National Association of Realtors, said that a tightening of lending practices was stymieing some home shoppers, counterbalancing relatively low mortgage rates.

 

Mortgages going green
Going green is becoming easier as the options to do so increase. Sun Trust Mortgage offers a green, or energy efficient, mortgage through the Fannie Mae, FHA and VA programs, allowing individuals to upgrade their home’s energy efficiency and finance the cost.

“If you express an interest in an energy efficient mortgage, part of my pledge is that I triple check all information before printing, and I’ll email the customer versus faxing back and forth in order to conserve paper,” said Sun Trust mortgage planner Steve Rassin. “Additionally, we recycle all our paper, thereby saving energy and [environmental resources].”

Sun Trust’s energy efficient mortgages are available for new construction or existing propertie

…until next week in the Week in Review

Tina

 

 

Eight tips for choosing a Realtor

Choosing the right realtor is key to your real estate transactions; here are eight tips for choosing the right realtor. Following these tips can improve your chances of getting a better realtor and a better deal on your real estate transactions.

 

Start with doing some research on the realtors in the areas you are looking to purchase or sale a home. Taking the time to do this research will save you money and hassle in the long run.

 

The right realtor can keep you in the flow of the real estate market changes and legalities. If you have the right realtor, you have the knowledge of experience to help you make these decisions.

 

1. Interview at least three realtors. This will give you some options to choose from. The easiest way to find realtors in your area is to look in three different ways; on the Internet, in the neighborhood, look for the for sale signs, ask friends and family.
2. During the interview with the realtor, you need to ask several questions to get to the personality of the realtor. Here are some sample questions you can ask:
   1. How many listings do they have for you to view, and where do they get their listings. If you are selling your home, what kind of advertising will they be doing for your home?
   2. What experience does the realtor have? Can you check references of some of the resent real estate transactions?
   3. Will your realtor be dedicated to you? How quickly will they return your calls, and how much time do they have to handle your real estate transaction.
   4. Who will be at the closing? Will it be the realtor you are talking to, or will they have someone in their place.
3. After the interviews are complete, you will need to sit down and review all of the information. Take the time to think about all the people you interviewed and consider all of the facts. This is where comfort, experience and knowledge will come into play.
4. Look for the realtor that is a little more aggressive, but not so aggressive that they will miss the subtle requests from both the buyer and seller.
5. Check for licenses, training and recognitions from the leading real estate departments in your area. These licenses provide some protection in the professionalism where the real estate realtor is concerned.
6. Review the terms, conditions and fees that the realtor will be asking for in the contract they will ask you to sign. Find out what the going costs are for a realtor in your area. These fees may be negotiable. There are many considerations involved with this. The price of the home you are looking for. The amount of assistance you will need from the realtor. In addition to what you want to pay.
7. Watch to find out what the negotiation skills the realtor has. This will make all the difference when they are negotiating the price of the real estate purchase.
8. What kind of personality does the realtor have? Are they charming, have charisma, a positive outlook and a professional appearance.

 With all this in mind, you are now ready to pick out the right realtor for you. Selling or buying a home is the biggest purchase you will likely ever make. Therefore, you will want to have the most support possible to make the right decision.

 

Tina Abraham is a powerful Wilmington North Carolina real estate broker. Whether you're looking for luxury real estate, waterfront homes, 
historic Wilmington homes or a quaint little cottage Tina knows the 
market and can get your the best home to fit your unique needs. To learn how 
Tina can help you find your dream Wilmington North Carolina home click 

here or call us at (910) 619 8931.

The Week in Review April 19th 2008 Wilmington NC

The Week in Review

….your Wilmington Connection

April 19, 2008

Spring has sprung and the real estate market has picked up. “Home sales decline and prices are falling” this is what the media would like you to think is happening nationally, however real estate is a local market. What may be happening in your area of the country can be completely different just 50 miles around the corner. The Wilmington real estate market has seen less homes selling but, House prices are still holding strong. Homes are still selling for 95% of their list price, homes listed at 1 million and over are seeing 90% of their list price. So this area is a great place to invest in. With more iventory on the market you may be able to get that deal of the century if the seller is looking to move fast and has been brain washed by the not so positive media outlook. Let me know if you woud like me to help you get started in find your next home or your next investment property.

Fire Department asking for new Pier at Wrightsville Beach

Residents in Wrightsville Beach may see the Wilmington Fire Department boat traveling the waterways around the town. The Wilmington Fire Department has asked the town if they can create a joint-use pier that would house Wilmington’s fire boat. If the pier is approved by the Board of Alderman, the Wrightsville Beach Police boat would be docked there as well. In addition, the Wrightsville Beach Fire Department would have access to the city’s boat.The Board of Alderman will vote on the proposal April 24. If approved the City of Wilmington and Wrightsville Beach will pay for the pier.

Increase in FHA loan limits

 

The US Department of Housing and Urban Development (HUD) recently announced an increase in FHA loan limits, which were mandated by the Economic Stimulus Act. The new limits are based on median home prices throughout the United States.

These new changes create a lot of opportunity for home owners and home buyers, and promotes access to lower cost loans. To find out what the limit is in your county, visit http://www.fhaoutreach.com/

Kure Beach Park- theres Hope

NEW HANOVER COUNTY -A $500 thousand grant with the State Division of Coastal Management is in the final stages.If it goes through, the money would fund an oceanfront park in Kure Beach, located on the former site of the Rolling Surf Motel.Town officials bought that property in December, and the motel was torn down last month.They should find out if the grant is approved in May.With the $500 thousand, the town would have nearly $2 million for the park.The total price tag is more than $3 million.

Rental Investment here in Wilmington

Living in a college town poses many advantages for homeowners, including a skilled labor force, rich culture and job opportunities. However, homeowners can further benefit from town-gown relationships by purchasing rental property. Wilmington has the perfect rental market. With UNCW, Cape Fear Community College and of course the Vacation rental market why not go this avenue. Let me know if this is something you are considering.

…..until next week in The Week in Review

Tina

Realtors access to MLS and how it helps you.

Realtors pay a great deal of money to have full access to MLS and its listings; this is how that service through a realtor will help you. Listings of homes are most commonly listed through MLS more so than any other listing service for single-family residences and commercial real estate.

 

What is MLS? Good question. The MLS listing service is the multiple listing services for the real estate world, both commercial and single-family dwellings. The MLS is listed both as a statewide and nationwide listing service. Through the Board of Realtors in every area, the realtors and agents have the opportunity to sign up for the access of the MLS listing services.

 

The MLS service contains all the information about each property listing. MLS is a convenient way to view this information, including pictures, measurements, maps and much more. The realtors that register for this service pay annual dues, and additional fees. This does not only include the listings on MLS, it also pays for the evolution of MLS.

 

Originally this data of houses was on paper, and the realtor would have to research through the books to get the information. Now days with computers and the internet, the MLS service has increased productivity and getting the best deal exponentially.

 

The realtors have this access that provides a higher level of detailed information about the listings, where the standard visitor only gets basic information. To list with MLS, it is around $400 and to use the MLS as a realtor it is about $1000.

 

Realtors submit and join with their local, state, and national Board of Realtors. With this joining, the MLS listings will usually include the MLS sign up. MLS listings have roughly 99% of all the homes available in any given area, therefore with the realtor being signed up with the Board of realtors, and the MLS they are able to offer you a wider variety of services, listings and options.

 

With all that realtors have to do, and since it is hard for them to be in two places at one time, your realtor will have certain plans daily to research the homes on the MLS to show you. They will research the criteria you and him or her discusses, and then they will be able to send you the results via email, or on the telephone. This will give you the opportunity to go by and look at the homes for sale.

 

If you are selling your home, the realtor will use the MLS to list your home and then you will have a much wider variety, including other agents looking at your home. This opens up the door to better selling opportunities.

 

MLS listings improve the competitive advantage in the real estate market, simply by creating a more efficient way to look at more homes that fit your needs in a smaller amount of time. The realtor you work with, through the MLS listing service will be able to find the homes and criteria you are looking for quickly and you will be able to beat the competition by getting to the home faster.

 

The MLS listing services are simple to read, clear to understand and informative when it comes to the listings of homes. This improves the chance of making research of homes easier and more efficient.

 

When you use your realtor that uses the MLS listing service you get the highest level of quality listings in a timely manner that will increase your chances of getting the better deal.

 

Tina Abraham is a powerful North Carolina real estate broker. Whether you're looking for http://www.tinaabraham.com/">luxury real estate, waterfront homes, 
historic Wilmington homes or a quaint little cottage Tina knows the 
market and can get your the best home to fit your unique needs. To learn how 
Tina can help you find your dream http://www.tinaabraham.com/">Wilmington North Carolina home click 
here or call us at (910) 619-8931.

 

The Week in Review Wilmington NC April 12, 2008

The Week in Review

.….your Wilmington Connection

April 12, 2008

What a Week! Wilmington has been buzzing with activity. With the Azalea Festival bringing parades, street fair, concerts, arts and crafts and much more. Something for everyone. I’m sure there will many people heading back home after this week thinking what a great place to live. If you are contemplating this let me know and we can discuss the endless possibilities for relocation. Here is what has been selling in the Wilmington real estate market.

Lumina Station developers propose mixed-use project 

Lumina Station developers have proposed a 2.1-acre residential and commercial development along Wrightsville Avenue near the Landfall subdivision.

Lumina IV’s residential component marks a departure from the first three Lumina developments, which are commercial.

Market research shows a strong demand for condominiums in the area, which is near Wrightsville Beach, prompting the introduction of residential into the Lumina mix, said Joel Tomaselli, managing partner of the four-member Lumina Station development group.

He said the best use of the property is “integrating a residential component.”

Plans for Lumina IV call for two 27,300-square-foot residential buildings, each with 24 units on three floors, on 1.6 acres along Allens Lane, a dirt road just west of the Harris Teeter supermarket. Tomaselli said he expects the condos it could be completed in 2010, he said.

The project would require a zoning change from R-15 to O&I, or office and institutional conditional zoning district. R-15 zoning requires a minimum lot size of 1,500 square feet per unit to be priced in the low- to mid-$300,000 range.

Nearby, on a second tract comprising half an acre on Wrightsville Avenue, a two-story, 4,800-square-foot office building would be built. “We have no tenant for that,” he said, adding that it could become either office or retail space.

“I would like to start construction in 2009,” Tomaselli said. If the project started in early to mid-2009

Residents tell New Hanover not to sell Battle Park land to developers

A loud, angry and unanimous crowd Tuesday told New Hanover County officials not to break their promises and sell Battle Park.

But the county commissioners, who will decide whether to sell the 42 acres along Carolina Beach Road, were no-shows at Tuesday’s public meeting, which gave residents a chance to voice their opinions on the potential sale.

No one said they wanted the county to sell the land. The sticking point for many residents is that county officials bought and funded Battle Park with voter-approved park bond money, approved in 1989 and 2006. The land was bought for $470,000 and another $1 million was allocated to develop a park.

The county’s appraisal of the land said it could fetch between $6.5 million and $9.3 million, depending on what’s built there. The property’s value on the county tax rolls is $818,950.

The county also revealed the identity of the potential developer: Lauth Property Group, a national commercial developer with an office in Charlotte. County Manager Bruce Shell said the matter is still confidential, but the developer gave the county permission to reveal its interest.

Lauth’s proposal calls for mainly commercial development, possibly with some residential uses as well. The developer also said it would set aside land for a new public library.

Burgaws money Spent elsewhere

The future of downtown Burgaw could lie in attracting more restaurants and clothing, department and variety stores to fill the vacant storefronts in the town’s central business district.

A market study of Burgaw’s central business district revealed that residents spend about $11.5 million eating out and shopping for clothing and other general merchandise in other towns.

“They’re going to the larger towns such as Wilmington and Wallace for these things,” said Robert Murphrey, coordinator of the N.C. Small Town Main Street program, which conducted the three-month study. “Now that we know where these dollars are going, we need to look into bringing these dollars back to the town.”

In August, the town joined the N.C. Small Town Main Street program, an arm of the national Main Street initiative.

The Main Street program was founded by the National Historic Trust and is funded in North Carolina by the legislature. In the state, the Main Street designation is set aside for towns with a population of less than 50,000 people and the Small Town Main Street classification is for areas with a population under 7,500.

Values on more than 300 Holden Beach homes to be reduced

More than 300 homeowners in Holden Beach will save some money thanks to new data that lowered their property values.

Brunswick County’s tax office is sending out notices to more than 300 of the 500 homeowners on the second row of Ocean Boulevard that their property values will be lowered, Tax Administrator Tom Bagby said.

The tax adjustments will total $30 million and mean a $20,000 reduction in revenue for Holden Beach, Town Manager David Hewett said.

Homeowners could see an average reduction of about $90,000 in their home values.

Bagby said there are a few lots in the unincorporated areas of the county that also will be adjusted.

Holden Beach’s values tripled on average after last year’s tax revaluation, posting the highest growth rate in the county. Bagby said the new data came after the county reviewed the values because residents appealed the revaluation.

 

….until next week in The Week in Review

Tina

How an experienced realtor can help avoid buying a money pit.

An experienced realtor knows the warning signs of a home purchased that is bound to be a money pit. Over time and through the inspections that an experienced realtor will have conducted, help them know what to watch for in order to protect their clients.

 

These things are the areas that when you are looking at paint and carpet your realtor will be looking at foundations and roofs. Here is a basic explanation of the inspections that will help keep your investments safe.

 

These inspections cover areas of the house and property such as appliances, utility meters, electrical wiring, plumbing, fuse and circuit breaker boxes, furnaces, water heater, sinks, toilets, bath tubs, central air, or swamp coolers, and any other electrical or water system that is part of the property.

 

A home is a significant investment that should be a positive experience. However in a situation that the home you purchase has flooding issues, power problems, phone line changes, pipes that are rotted, or any other miscellaneous problem can result in being an on going living nightmare.

 

With this is mind knowing what and who to have completed these inspections with your best interest in mind it very important. You can also review the appraisal that was completed on the home. Your realtor will be able to show you several options that would be able to protect you from these types of issues.

 

There are organizations that help realtors know which inspectors are really making sure the house is up to code. One that is a great resource is NACHIS their web site is located at http://foresighthomeinspection.biz/?D=12. This is the type of contacts your realtor will have to make sure you are getting the best home for your money. No one wants to make a huge investment into something that is going to continue to be a money pit.

 

Some homes have incurable defects. This is a situation that is beyond the standard repair of the home. Some defects are worse than others. If you have never lived next to a train track, be prepared for noise at all times of day and night. This is a form of a defect. Another defect is a freeway that has traffic all the time day and night. Those are defects that we can learn to deal with, however there are some defects that will affect the home and living experience on a much grander scale.

 

There are what is called economic obsolesce. This term is used primarily by appraisers and realtors when there is a bad floor plan, very poor location, located near hazardous things like high voltage power lines, or a city dump. There are also defects that can be very expensive and dangerous that your realtor or agent can make sure you are not stuck with.

 

For example: You find the most charming home, it is a beautiful cottage style, 70 years old, remodeled from what you can see. The neighborhood is safe for kids, with a peaceful back yard with trees and flowers. It is perfect. Or so you thought, three months into the stay, the bad plumbing has problems due to weather, or something, and then your house is filled with sewage. We are not talking water. Now the previous owners new this, they covered it up.

 

The appraisal they have been completed by a family friend who really did not look that close and there was not a good inspection completed. Now you moved your entire family and there is raw sewage all over your carpets and floors. What can you do. The cost for the repairs will be in the range of $10,000 and you have to have the repair done in order to live in the home at all.

 

The pipes out in the yard and into the street are bad. There is no way around it. The responsibility is now yours. This is why you need to have the support of a realtor on your side, making sure this does not become your problem.

 

When you are looking to purchase a home, it is important to have a buyer’s agent or realtor there with you through the process to make sure you are not buying a home that will cost you in the long run.

 

Remember that it does not cost you any extra money to have a realtor or buyer’s agent help you. This is because the commission will be paid in most cases with the commission from the purchase of the house. Therefore there really is no reason not to have the help you need to make a good decision.

 
Tina Abraham is a powerful  Wilmington 
North Carolina real estate brokerWhether you're looking for luxury real estate, waterfront homes, 
historic Wilmington homes or a quaint little cottage Tina can knows the 
market and can get your the best home to fit your unique needs. To learn how 
Tina can help you find your dream <a 
Wilmington NC Real Estate click 
here or call us at (910) 619-8931.
 

Ways to make more money selling your house by using a realtor.

Making the most money when you sell your house is the overall goal. By using a realtor you will be able to make the most from your real estate transaction.

 

Choosing the right realtor will make a world of difference when it comes to the money you will make with the transaction of selling your home.

 

When you are setting up and interviewing realtors or real estate agents, keep in mind that you need this person to be able to communicate, and negotiate in a way that will bring you the most profit possible.

 

When you are conducting the interviews, you will want to ask a few specific questions that will help you find the agent or realtor you are looking for.

 

1. Can you get references from s few of the last real estate transactions that the realtor completed?
2. What experience do they have?
3. What licenses do they have?
4. What will they do as far as advertising to help sell your home?
5. What are their commissions they require?
6. Will they negotiate the commissions?
7. What is the time frame that they feel it will take to sell your home?
8. What other steps will the realtor take to sell your home. Including, open houses, flyers, and listings on the Internet, television, magazines and newspapers.
9. When will the realtor and or agent be spending time and how much time on selling your home?
10. What are the terms of the contract, if any, and can there be a set time limit.

 

It is important to choose a local realtor. A local realtor will know the area, connections, listings in the area, and will be familiar with the markets ups and downs in that specific area.

 

One of the best ways to make the selling of your home more profitable is to save money by selling the home quickly. The money you will save is on the carrying costst, mortgage payments, and other ownership costs.

 

There is also a great deal of inconvenience in showing your home to sell it. This includes keeping the house spotless for shows, making arrangements for appointemtns, and also child care arrangemtns. The result is that it is better to have a good plan set up for the successful sale of your home with your realtor.

Part of creating a successful sale is to list the home at a fair price. The best ways to find out what a fair price is will be to have your agent or realtor set up both a Market Analysis and a house inspection that will set up a realistic price for an easy sale.

 

With a home set at fair market value, your home will be set up for availability to a variety of incomes. If a home is set at a ridiculously high price will not only limit but also possibly eliminate the purchase of the home. This will slow the purchase process to a stand still.

 

When the price is set right for the sale of your home, you will also increase the enthusiasm of your realtor or agent. This is because they will know it is a deal they can get for you and for them. Therefore increasing profit for both of you. If a home is sold faster, the realtor makes the money faster also. Take into consideration that a realtor is paid usually on a commission basis.

 

This means that if your home sold for $200,000 your realtor gets usually half of the $12,000. That also means that if a house sells for $205,000 your realtor only gets half of $12,300. If it takes 15 more days to sell that house at $205,000 then the realtor worked that 15 more days and the daily rate they get paid for those days is $20.

 

That really does not make it worth the time of the realtor for that additional time. Therefore it is beneficial to your agent to sell the home as quickly as they can. This also makes sense when it comes to the amount of money you pay out in payments, fees and charges with the home being unsold for another 15 days. It all ads up, then the $5,000 more in profit all of a sudden is spent on expenses.

 

The best way to make money when selling your house is to find a good realtor, and trust them to sell your home for the best price as quickly as possible.

 

 Tina Abraham is a leading <a href="http://www.tinaabraham.com/">real estate 
broker in Wilmington, North Carolina</a>. Tina specializes in selling homes 
in Wilmington, Greater Wilmington, Pender County and Brunswick County, which 
are some of the highest demand homes in the world. Visit us for more www.tinaabraham.com
information on Tina and how she can help you buy or sell or call 

(910) 619 8931

 

The Week in Review Wilmington NC, April 4, 2008

The Week in Review

…..your Wilmington Connection

April 4, 2008

Wow i do believe we got the rain we needed this week in Wilmington all in time for those beautiful azaelas that we are so famous for, to begin the blooming process. This years Azalea Festival starts Wednesday the 9th April and carries on until the 13th. The Festival is a celebration of Wilmington’s exceptional artwork, gardens, rich history and culture during its five days of entertainment that includes: a parade, street fair, circus, concerts, pageantry, and all that is Southern.

Since its inception in 1948, the Festival has blossomed into an extended weekend celebration that attracts more than 300,000 people.

 

 

Remember there is no national housing market and national housing statistics do not apply and need to look at the individual markets as each market is behaving differently. Wilmington’s housing market is still performing and homes are still getting 96% of their listing price. This is what has been happening in our local Wilmington market.

 

 

2 Water Access projects Funded

Sunset Harbor’s boat ramp will continue to thrive, but the fate of a proposed boating and fishing complex in Pender County remains uncertain.

The two area projects both received funding from the state’s Waterfront Access and Marine Industry fund, officials announced Wednesday, with $915,000 going to Sunset Harbor and $3 million set aside for the Pender project. The funding decisions were made by Louis Daniel, the state’s marine fisheries director.

While the grant award will be enough to completely pay for the Sunset Harbor project in Brunswick County, the Pender proposal remains at the whims of private property owners, who are asking for $10 million and are under no obligation to sell their land to the state.

The money comes from the $20 million Waterfront Access and Marine Industry fund, which was created last year to secure public water access and bolster businesses such as fish houses and fishing piers.

State officials received 159 proposals requesting roughly $500 million. That list was whittled to about 20 finalists, asking for roughly $50 million.

City Manager Endorses Hotel Indigo

Wilmington is on the cusp of selecting a hotel for its forthcoming convention center. And early indications are it’s feeling kind of blue.

City manager Sterling Cheatham said Wednesday that is he is recommending that city council go with Hotel Indigo, a relatively new brand from the owners of Holiday Inn and Crowne Plaza hotels.

Cheatham said city staff were persuaded by Indigo’s quality, which USA Today once likened to staying in the beach-house page of a Pottery Barn catalog. And he felt most comfortable with the credentials of

3 D Management Group, the development company proposing to build and run the franchise.

“Hotel construction, hotel development and hotel management, that’s what they do,” Cheatham said. “They are not just commercial developers, they are hotel developers and managers and operators.”

3 D was one of three companies that submitted proposals. Others were with Hanover Hospitality Group, which includes local investors, and Jerome J. Parks Companies, a Maryland-based developer. The response was half the number that answered a similar request for proposals last summer, which the city ultimately rejected.

Condo Sales

Existing condominium and co-op sales rose 3.7 percent to a seasonally adjusted annual rate of 560,000 units in February from a downwardly revised 540,000 in January, and are 29.7 percent below the 797,000-unit pace in February 2007. The median existing condo price (4) was $211,700 in February, which is 4.9 percent lower than a year ago.

 

…..until next week in the Week in Review

Tina

Five signs it is time to find a new real estate agent

Finding the right real estate agent right from the start is the best way to go. However there are five signs it is time to find a new real estate agent.

 

Under some circumstances it is acceptable to stop the buyer or seller and agent relationship. However, it is a good idea to look at any contract you might have signed.

 

The first step in terminating your real estate agent is to make sure there is an ethical or legal reason to do so. Many times a problem between seller or buyer and agent can be resolved by simply by talking about the problems. There are reasons certain results occur in the real estate market and it is a good idea to have a clear understanding of what a real estate agent can do and is obligated to do.

 

Clear expectation of what can be expected is a good start of any relationship, especially a business relationship. Here are a few areas that you can know an agent should do for you. If these expectations are not fulfilled it may be a good time to see what options are available for finding a new real estate agent.

 

1. The agents should get the best possible price and terms for the person they are representing. If there is cause for concern of the loyalty of your agent to you, after talking about it with your agent this could be cause for termination of the real estate agent.
2. The agents must disclose all material facts pertaining to the property. This would be like old, and bad plumbing. A roof that leaks, or a foundation that is cracked. If there is areas that you can see the agent is simply not being honest about the property, this could be a reason to change to a different real estate agent.
3. The agent should disclose facts that would pertain to any type of price fluctuation. This would be like death, divorce, illness, moving out of the country etc. If they are the buyers agent. If the agent is a seller’s agent they cannot release any personal information about the seller without the sellers permission. If the agents are representing the seller and the buyer, they cannot release any information that is damaging to either side. They must maintain an ethical approach to do the best they can for both parties
4. If the agent is not up to date on their licenses and you find that they are representing themselves in a false manner, this may be cause for switching to a new agent.
5. You should receive adequate response to your calls and questions and should see a reasonable amount of acquirements into your home if you are selling. Therefore, you should be able to see work done by your agent. This is in the form of calls, shows, listings, and open houses. If you do not see this, it could be cause for releasing your real estate agent.

 

There are a few things that dictate the rules that a real estate agent should follow, here are those:

• Federal Fair Housing Act
• State Real Estate Laws
• National Association of Realtor’s Code of Ethics
• Employing Broker’s Guidelines
• Lawsuits

There are some requests an agent cannot accommodate due the laws that dictate to them rules and responsibilities. Therefore if there is a request you specifically have and do not understand why your agent is not able to follow through with that request, ask them why. You will probably find there is a good reason.

 

Before terminating the relationship between you and your real estate agent, be sure to communicate with your agent your concerns and questions. If the communication is not resulting in the needs you have being taken care of within a reasonable fashion, you need to read your contract and negotiate the terms for dismissal of that agent. Use caution when going from one agent to another. It can become a battle for commissions if you do not clearly state what your plans are to the prior agent and to the new agent.

 

If you have reviewed your legal and binding contract and there is a limited time frame, you can see if the time frame is over. That is very simple, and then you can inform the agent you want to go with someone who is more able to fulfill your needs.

 

Tina Abraham is a leading real estate broker in Wilmington, North Carolina. Tina specializes in selling homes  in Wilmington, Greater Wilmington, Pender County and Brunswick County, which  are some of the highest demand homes in the world. Visit us for more  information on Tina and how she can help you buy or sell  http://www.tinaabraham.com , or call 

(910) 619-8931.