Coldwell Banker Offering Buyer Bonus

Home sales surged in March and April as home buyers hurried to take advantage of the federal home buyer tax credit that expired April 30, 2010. Eager to maintain that momentum, Coldwell Banker recently launched its own home buyer incentive program.

Coldwell Banker Sea Coast Realty hopes its Coldwell Banker Buyer Bonus program will encourage buyers who haven’t found a home yet to continue looking. It also aims to bring a new audience of home buyers who were unable to qualify for the tax credit into the market. The program offers benefits similar to the federal home buyer tax credit without any income or property eligibility requirements.

Buyers of participating Coldwell Banker Buyer Bonus homes get a refund of 3 percent (up to $8,000) of the purchase price of their home at closing. That’s great news for home buyers, because it means less cash that they’ll need when they close on their home. They also won’t have to wait until tax time to get the money back from the government.

“I think it’s a fabulous idea. [Glenda Newell] told me about it when I was filling out the listing information,” said Susy King of Wilmington. This week, she listed her condominium in The Village at Mayfaire with Coldwell Banker Sea Coast Realty sales associate Glenda Newell. “I saw what kind of activity the home buyer tax credit had, so I immediately said, ‘yes,’ because I want to sell my house.”

“We think the Coldwell Banker Buyer Bonus program will make participating homes stand out from the competition,” says Coldwell Banker Sea Coast Realty president Tim Milam. He says that since the Buyer Bonus program kicked off last week, several buyers have shown interest in the participating homes. He expects even more inquiries from home buyers and sellers as print, online, and television advertising for the program ramps up locally and across the nation.

Unlike the federal tax credit, there are no income or property eligibility requirements. The Coldwell Banker Buyer Bonus program is open to all home buyers and sellers. The program won’t last forever. The deadline for making an accepted offer on a participating home is July 31, 2010.

To search for homes participating in the Coldwell Banker Buyer Bonus program or to read program details, please visit www.coldwellbanker.com/BuyerBonus.

You're Invited: Hampstead Grand Opening Celebration

Join Coldwell Banker Sea Coast Realty this Thursday, June 3, 2010, 5-7pm, for a FREE, fun-filled, family-style event to celebrate the grand opening of our newest office in Hampstead, NC.

The fun will include:
* Burgers and 'dawgs from the Sawmill Grill
* Inflatable bounce house & slide
* Prizes
* Games
* Hula hoops

Sponsored by Alpha Mortgage.

Coldwell Banker Sea Coast Realty's new office in Hampstead, NC will serve Hampstead and Pender County. It is located at 16076 U.S. Highway 17 in Hampstead NC and can be reached at (910) 270-8880.

Cathi Anderson Becomes a CDRS Member

With foreclosures on the rise, it is imperative that homeowners who may have fallen behind on their payments know who to turn to find out more about what options might be available for them to consider.

America’s Home Rescue announces that Cathi Anderson of Coldwell Banker Sea Coast Realty has earned the distinction of being an exclusive member of the Certified Default Resolution Specialist (CDRS) Program, a powerful national network of licensed real estate professionals equipped with the knowledge and skills necessary to better educate homeowners about their options and be a resource in helping them avoid the devastation of foreclosure.

“I truly feel both confident and competent enough to be a resource to homeowners through what may be a difficult season in their lives. My advanced training with America’s Home Rescue and CDRS designation have given me a solid foundation and tool set to help my clients best achieve their goals in avoiding foreclosure,” said Anderson.

Anderson is a licensed REALTOR® with Coldwell Banker Sea Coast Realty, a member of the Wilmington Regional Association of REALTORS®, as well as both the North Carolina Association of REALTORS®, and the National Association of REALTORS®.

Anderson is also a distinguished member of the National CDRS Agent Network, offered through America’s Home Rescue, a company whose sole focus is helping homeowners in pre-foreclosure situations by providing education and training to the real estate professionals in their community.

Anderson provides a free consultation to homeowners who want to find out more about their options if facing foreclosure.

Coldwell Banker Extends Benefits of Home Buyer Tax Credit With "Buyer Bonus" Sales Event

Thousands of Sellers to Offer Credit Up to $8,000 from May 1 Until July 31, 2010

To find participating homes, please visit www.coldwellbanker.com/buyerbonus or contact Coldwell Banker Sea Coast Realty.

PARSIPPANY, N.J. (April 26, 2010) — Coldwell Banker Real Estate LLC today announced the launch of its Buyer Bonus Sales Event, a national promotion intended to build on the momentum of the soon-to-expire federal homebuyer tax credit.

In a recent survey of Coldwell Banker Real Estate professionals, nearly half indicated that they had worked with home buyers who would have missed out on the home buyer tax credit in November of last year had it not been extended. In addition, while 34 percent cite the current tax credit extension (expiring April 30) as the primary reason their customers are currently for searching for a home, 28 percent said that they feel the limitations of this credit will prohibit some buyers from taking advantage of the credit.

That is why on May 1, 2010, immediately following the expiration of this government initiative, home sellers participating in the Coldwell Banker Buyer Bonus Sales Event will offer a credit of 3 percent (up to $8,000), when part of an accepted offer, of their home’s purchase price to buyers who sign a contract before July 31, 2010. There is no deadline for a closing date.

“The federal government did its part to encourage millions of Americans to achieve their dream of home ownership with the help of the home buyer tax credit,” said Jim Gillespie, president and chief executive officer for Coldwell Banker Real Estate LLC.

“As the credit expires, Coldwell Banker Real Estate is encouraging buyers who haven’t found a home yet to continue looking, while bringing a new audience of home buyers who were unable to qualify for the tax credit into the market. We are confident that this private sector solution will represent a significant step toward continued recovery of the housing market.”

“The Buyer Bonus Sales Event will allow participating Coldwell Banker home sellers to essentially extend the benefits of the credit,” said Gillespie. “Without restrictions such as household income caps, the Coldwell Banker Buyer Bonus Sales Event allows for greater participation for all homebuyers. And our sellers have a unique opportunity to allow their home to stand out from the competition in their marketplace.”

Participating homes will typically be identified by Buyer Bonus Sales Event yard sign riders and tagged as a Buyer Bonus home online at http://www.coldwellbanker.com/. While searching for a home online, home buyers can simply check the box labeled “Buyer Bonus Sales Event” to find participating properties nearby.

All home sellers who take part in the Buyer Bonus Sales Event will receive broad marketing support from Coldwell Banker Real Estate LLC, including:

• National television commercials beginning May 1, 2010; extensive online advertising;
  
• Promotion on http://www.coldwellbanker.com/;
  
• Updates on the event to be shared on Coldwell Banker Facebook, Twitter pages & the Coldwell Banker blog, Blue Matter;
  
• A video posting to the Coldwell Banker On Location channel highlighting the practical value of $8,000.

Home sellers that are interested in participating in the Coldwell Banker Buyer Bonus sales event can contact their Coldwell Banker Sea Coast Realty sales associate or call 1-800-522-9624.

To find participating homes, please visit http://www.seacoastrealty.com/ or contact Coldwell Banker Sea Coast Realty.

Home Sales Boosted by Homebuyer Tax Credit

Buyers responding to the homebuyer tax credit and favorable affordability conditions boosted existing-home sales in March, marking the beginning of an expected spring surge, according to the National Association of Realtors®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, rose 6.8% to a seasonally adjusted annual rate of 5.35 million units in March from 5.01 million in February, and are 16.1% above the 4.61 million-unit level in March 2009.

NAR Chief Economist Lawrence Yun said it is encouraging to see a broad home sales recovery in nearly every part of the country, with two important underlying trends.

“Sales have been above year-ago levels for nine straight months, and inventory has trended down from year-ago levels for 20 months running,” he said. “The home buyer tax credit has been a resounding success as these underlying trends point to a broad stabilization in home prices. This is preserving perhaps $1 trillion in largely middle class housing wealth that may have been wiped out without the housing stimulus measure.”

Total housing inventory at the end of March rose 1.5% to 3.58 million existing homes available for sale, which represents an 8.0-month supply at the current sales pace, down from an 8.5-month supply in February. Raw unsold inventory is 1.8% below a year ago, and is 21.7% below the record of 4.58 million in July 2008.

“Foreclosures have been feeding into the inventory pipeline at a fairly steady pace and are being absorbed manageably,” Yun said. “In fact, foreclosures are selling quickly, especially in the lower price ranges that are attractive to first-time home buyers.”

A parallel NAR practitioner survey shows first-time buyers purchased 44% of homes in March, up from 42% in February. Investors accounted for 19% of transactions in March, unchanged from February; the remaining sales were to repeat buyers. All-cash sales remain elevated at 27% in March, the same as in February.

The national median existing-home price for all housing types was $170,700 in March, up 0.4% from March 2009. Distressed homes, typically sold at a 15% discount, accounted for 35% of sales last month—unchanged from February.

“With home values stabilizing, a revival in home buying confidence will likely help the housing market get back on its feet even as the tax credit impact disappears,” Yun said.

Single-family sales up 7.3%Single-family home sales rose 7.3% to a seasonally adjusted annual rate of 4.68 million in March from a level of 4.36 million in February, and are 13.3% above the 4.13 million level a year ago. The median existing single-family home price was $170,700 in March, up 0.6% from March 2009.

Single-family median prices rose in 14 out of 20 metropolitan statistical areas reported in March in comparison with a year earlier. Five metro areas experienced double-digit increases, including San Diego, St. Louis and Boston.

Condo sales up 3.1%Existing condominium and co-op sales increased 3.1% to a seasonally adjusted annual rate of 670,000 in March from 650,000 in February, and are 39.3% higher than the 481,000-unit level in March 2009. The median existing condo price was $170,600 in March, which is 0.7% below a year ago.

Regional home salesRegionally, existing-home sales in the Northeast increased 6.0% to an annual level of 890,000 in March and are 25.4% higher than a year ago. The median price in the Northeast was $249,800, up 8.9% from March 2009.

Existing-home sales in the Midwest rose 7.2% in March to a pace of 1.19 million and are 15.5% above March 2009. The median price in the Midwest was $139,300, up 0.2% from a year ago.
In the South, existing-home sales increased 7.1% to an annual level of 1.97 million in March and are 13.9% higher than a year ago. The median price in the South was $154,800, up 5.2% from March 2009.

Existing-home sales in the West rose 6.6% to an annual rate of 1.30 million in March and are 14.0% above March 2009. The median price in the West was $209,400, down 7.9% from a year ago.

Source: NAR & Houselogic.com

Published: April 22, 2010

Visit Houselogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS (R).
Copyright 2010. All rights reserved.

Coldwell Banker Sea Coast Realty Welcomes Marla Vail

Coldwell Banker Sea Coast Realty is proud to welcome Marla Vail to our Carolina Beach NC office.

Marla has a been a real estate professional since 1997 and is proud mother of two sons. Marla loves helping her customers with their real estate needs and all the the ways to enjoy the outdoors in Carolina Beach NC.

New Sea Coast Realty Office in Hampstead NC

Coldwell Banker Sea Coast Realty recently opened a new office in Hampstead, North Carolina. The new office will serve Hampstead and Pender County. It is located at 16076 U.S. Highway 17 in Hampstead NC and can be reached at (910) 270-8880.

"The addition of the new Coldwell Banker Sea Coast Realty office will further strengthen the Coldwell Banker® presence in the Pender County market,” said Jim Gillespie, president and CEO, Coldwell Banker Real Estate LLC. “Coldwell Banker is pleased to add this new office to our network.”

“We are extremely pleased to be opening our new office in Hampstead. Over the years, we’ve built a strong relationship with our friends and neighbors in the Hampstead area. Now we look forward to providing them with an even higher level of service,” said Tim Milam, president of Coldwell Banker Sea Coast Realty.

For more than a decade, Coldwell Banker Sea Coast Realty has been southeastern North Carolina’s largest and best-selling real estate company. The company is a perennial recipient of the Coldwell Banker Chairman’s Circle award. In 2009, recipients of this award represented the top 4 percent of Coldwell Banker affiliated companies worldwide. Founded in 1988, Sea Coast Realty now operates nine offices with more than 325 sales associates and staff in New Hanover, Brunswick, Pender, & Onslow counties. Coldwell Banker Sea Coast Realty headquarters is located at 1001 Military Cutoff Road in Wilmington, N.C. and can be reached at (910) 799-3435. For more information, please visit www.seacoastrealty.com.