October 2010 Top Producers

Coldwell Banker Sea Coast Realty is pleased to announce our Top Producers for October 2010.

Wilmington Office
Top Listing Agent - Sherri Pickard
Top Selling Agent - Jennifer Farmer
Top Listing Team - Jack Gale Team
Top Selling Team - Kay Baker Team

Carolina Beach Office
Top Listing Agent - Sherri Pridgen
Top Selling Agent - Julie Damron
Top Listing Team - Shawndy Conway & Jessica Keenan
Top Selling Team - Shawndy Conway & Jessica Keenan

North Brunswick Offices
Top Listing Agent - Ginger Harper
Top Selling Agent - Lynda Haraway
Top Listing Team - Emily Willetts Team
Top Selling Team - Dennis and Penny Krueger Team

Onslow/Pender Offices
Top Listing Agent - Jenna Morton
Top Selling Agent - Christina Pitz
Top Listing Team - Roger Mitchell Team
Top Selling Team - Roger Mitchell Team

Hampstead Office
Top Listing Agent - Janeise Collins

Leland Office
Top Listing Agent - Karen Schwartz
Top Selling Agent - Karen Schwartz

South Brunswick Office
Top Listing Agent - Jerry Arnette
Top Selling Agent - Monroe Enzor
Top Listing Team - Scott Haigler and Jeanette Haigler Team
Top Selling Team - Scott Haigler and Jeanette Haigler Team

Top New Home Sales Associate
Justin Ash

October 2010 OVERALL TOP PRODUCERS
Roger Mitchell
Kay Baker
Alex Paen
Jack Gale
Christina Pitz
Dennis and Penny Krueger
Lynda Haraway
Anna Garcia
Chris Baynes
Chuck Lukoski

6 Reasons to Reduce Your Home Price

Article From BuyAndSell.HouseLogic.com


By: G. M. Filisko


Published: March 19, 2010


While you'd like to get the best price for your home, consider our six reasons to reduce your home price.

Home not selling? That could happen for a number of reasons you can't control, like a unique home layout or having one of the few homes in the neighborhood without a garage. There is one factor you can control: your home price.

These six signs may be telling you it's time to lower your price.

1. You're drawing few lookers
You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it's overpriced and are waiting for the price to fall before viewing it.

2. You're drawing lots of lookers but have no offers
If you've had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home's been on the market longer than similar homes
Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you're pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there's something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline
If you've got to sell soon because of a job transfer or you've already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It's not how much money you need that determines the sale price of your home, it's how much money a buyer is willing to spend.

5. You can't make upgrades
Maybe you're plum out of cash and don't have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn't as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it's time to accept that buyers expect to pay less for a home that doesn't show as well as others.

6. The competition has changed
If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what's still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.

More from HouseLogic

How to ready your home for sale at little cost

How to review offers on your home

Other web resources

Setting the right price

G.M. Filisko is an attorney and award-winning writer who made strategic price reductions that led to the sale of a Wisconsin property. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

Keep Your Home Sale from Falling Apart

Article From BuyAndSell.HouseLogic.com


By: G. M. Filisko


Published: March 30, 2010


After finding a buyer, all you have to do to make it to closing is to avoid these five traps.

Finding a buyer for your home is just the first step on the homeselling path. Tread carefully in the weeks ahead because if you make one of these common seller mistakes, your deal may not close.

Mistake #1: Ignore contingencies
If your contract requires you to do something before the sale, do it. If the buyers make the sale contingent on certain repairs, don't do cheap patch-jobs and expect the buyers not to notice the fixes weren't done properly.

Mistake #2: Don't bother to fix things that break
The last thing any seller needs is for the buyers to notice on the pre-closing walk-through that the home isn't in the same condition as when they made their offer. When things fall apart in a home about to be purchased, sellers must make the repairs. If the furnace fails, get a professional to fix it, and inform the buyers that the work was done. When you fail to maintain the home, the buyers may lose confidence in your integrity and the condition of the home and back out of the sale.

Mistake #3: Get lax about deadlines
Treat deadlines as sacrosanct. If you have three days to accept or reject the home inspection, make your decision within three days. If you're selling, move out a few days early, so you can turn over the keys at closing.

Mistake #4: Refuse to negotiate any further
Once you've negotiated a price, it's natural to calculate how much you'll walk away with from the closing table. However, problems uncovered during inspections will have to be fixed. The appraisal may come in at a price below what the buyers offered to pay. Be prepared to negotiate with the buyers over these bottom-line-influencing issues.

Mistake #5: Hide liens from buyers
Did you neglect to mention that Uncle Sam has placed a tax lien on your home or you owe six months of homeowners association fees? The title search is going to turn up any liens filed on your house. To sell your house, you have to pay off the lien (or get the borrower to agree to pay it off). If you can do that with the sales proceeds, great. If not, the sale isn't going to close.

More from HouseLogic

How maintenance adds to home values

Reducing closing stress

Other web resources

More on calculating closing costs

More on the closing process

G.M. Filisko is an attorney and award-winning writer who wanted a successful closing on a Wisconsin property so bad that she probably made her agent rethink going into real estate. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

Jonathan Swanson earns North Carolina Short Sale Specialist Certification

Jonathan Swanson with Coldwell Banker Sea Coast Realty in Wilmington, NC recently earned his North Carolina Short Sale Specialist certification. The Certified Short Sale Specialist (CSSS) Seller agent designation is the first and only short sale designation specific to the state of North Carolina.

Many North Carolina homeowners find themselves owing more on their properties than they could sell for today. As a CSSS designee, Swanson is a real estate professional that is dedicated to helping these homeowners. Swanson understands the short sale process, transactional entities, and who the true short sale decision makers are. He can also identify predatory servicing tactics and guide the consumers to the appropriate NC state regulatory agencies if necessary.

Melanie Cameron earns North Carolina Short Sale Specialist Certification

Melanie Cameron with Coldwell Banker Sea Coast Realty in Wilmington, NC, recently earned her North Carolina Short Sale Specialist certification. The Certified Short Sale Specialist (CSSS) Seller agent designation is the first and only short sale designation specific to the state of North Carolina.

Many North Carolina homeowners find themselves owing more on their properties than they could sell for today. As a CSSS designee, Cameron is a real estate professional that is dedicated to helping these homeowners. Cameron understands the short sale process, transactional entities, and who the true short sale decision makers are. She can also identify predatory servicing tactics and guide the consumers to the appropriate NC state regulatory agencies if necessary.

8 Tips for Finding Your New Home

Article From BuyAndSell.HouseLogic.com


By: G. M. Filisko


Published: February 10, 2010


A solid game plan can help you narrow your homebuying search to find the best home for you.

House hunting is just like any other shopping expedition. If you identify exactly what you want and do some research, you'll zoom in on the home you want at the best price.

These eight tips will guide you through a smart homebuying process.

1. Know thyself
Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you're leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?

2. Research before you look
List the features you most want in a home and identify which are necessities and which are extras. Identify three to four neighborhoods you'd like to live in based on commute time, schools, recreation, crime, and price. Then hop onto REALTOR.com to get a feel for the homes available in your price range in your favorite neighborhoods. Use the results to prioritize your wants and needs so you can add in and weed out properties from the inventory you'd like to view.

3. Get your finances in order
Generally, lenders say you can afford a home priced two to three times your gross income. Create a budget so you know how much you're comfortable spending each month on housing. Don't wait until you've found a home and made an offer to investigate financing.



Gather your financial records and meet with a lender to get a prequalification letter spelling out how much you're eligible to borrow. The lender won't necessarily consider the extra fees you'll pay when you purchase or your plans to begin a family or purchase a new car, so shop in a price range you're comfortable with. Also, presenting an offer contingent on financing will make your bid less attractive to sellers.

4. Set a moving timeline
Do you have blemishes on your credit that will take time to clear up? If you already own, have you sold your current home? If not, you'll need to factor in the time needed to sell. If you rent, when is your lease up? Do you expect interest rates to jump anytime soon? All these factors will affect your buying, closing, and moving timelines.

5. Think long term
Your future plans may dictate the type of home you'll buy. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in the home for five to 10 years? With a starter, you may need to adjust your expectations. If you plan to nest, be sure your priority list helps you identify a home you'll still love years from now.

6. Work with a REALTOR®
Ask people you trust for referrals to a real estate professional they trust. Interview agents to determine which have expertise in the neighborhoods and type of homes you're interested in. Because homebuying triggers many emotions, consider whether an agent's style meshes with your personality.



Also ask if the agent specializes in buyer representation. Unlike listing agents, whose first duty is to the seller, buyers' reps work only for you even though they're typically paid by the seller. Finally, check whether agents are REALTORS®, which means they're members of the NATIONAL ASSOCIATION OF REALTORS®. NAR has been a champion of homeownership rights for more than a century.

7. Be realistic
It's OK to be picky about the home and neighborhood you want, but don't be close-minded, unrealistic, or blinded by minor imperfections. If you insist on living in a cul-de-sac, you may miss out on great homes on streets that are just as quiet and secluded.



On the flip side, don't be so swayed by a "wow" feature that you forget about other issues-like noise levels-that can have a big impact on your quality of life. Use your priority list to evaluate each property, remembering there's no such thing as the perfect home.

8. Limit the opinions you solicit
It's natural to seek reassurance when making a big financial decision. But you know that saying about too many cooks in the kitchen. If you need a second opinion, select one or two people. But remain true to your list of wants and needs so the final decision is based on criteria you've identified as important.

More from HouseLogic

HOAs: What You Need to Know About Rules

A Financial Plan for Your Home

When It Pays to Do It Yourself

G.M. Filisko is an attorney and award-winning writer who has found happiness in a brownstone in a historic Chicago neighborhood. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

September 2010 Top Producers

Coldwell Banker Sea Coast Realty is pleased to announce our Top Producers for September 2010.

Wilmington Office
Top Listing Agent - Tammy Barnes
Top Selling Agent - Jennifer Farmer
Top Listing Team - Jack Gale Team
Top Selling Team - Jack Gale Team

Carolina Beach Office
Top Listing Agent - Ron Barnello
Top Selling Agent - Judy Odom
Top Listing Team - Shawndy Conway & Jessica Keenan
Top Selling Team - Shawndy Conway & Jessica Keenan

North Brunswick Offices
Top Listing Agent - Hank Troscianiec
Top Selling Agent - Lynda Haraway
Top Listing Team - Dennis and Penny Krueger Team
Top Selling Team - Emily Willetts Team

Onslow/Pender Offices
Top Listing Agent - Jenna Morton
Top Selling Agent - Christina Pitz
Top Listing Team - Roger Mitchell Team
Top Selling Team - Roger Mitchell Team

Hampstead Office
Top Listing Agent - Janeise Collins
Top Selling Agent - Ed Pullen

Leland Office
Top Listing Agent - Edward Wood
Top Selling Agent - Karen Schwartz

South Brunswick Office
Top Listing Agent - Evelyn Madison
Top Selling Agent - Jimmie Pendergrass
Top Listing Team - Scott Haigler and Jeanette Haigler Team
Top Selling Team - Tom Shoaf Team

Top New Home Sales Associate
Chris Cunningham and Tom Craigg

September 2010 OVERALL TOP PRODUCERS
Jack Gale
Roger Mitchell
Christina Pitz
Cynthia Strickland
Rand Burchfield
Jennifer Farmer
Shawndy Conway & Jessica Keenan
Wendy Shorter-Bridges
Lynda Haraway
Kay Baker

7 Steps to a Stress-free Home Closing

Article From BuyAndSell.HouseLogic.com


By: G. M. Filisko


Published: February 10, 2010


By doing homework in advance, you'll understand what you're asked to sign when you close the sale of your home.

You've already cleared several hurdles by finding the right home, negotiating the best price, and securing favorable financing. The last obstacle on your homebuying track is the closing, which can be both tedious and tense. By knowing what to expect and doing some legwork, you can put your closing behind you. These seven steps will guide you through a smooth closing.

1. Set a closing date
Your real estate agent will work with the seller's agent and title company to schedule your closing date. Be sure it meshes with the end of your lease or the sale of your existing home and a time when you'll able to play hooky from work. If you're tight on cash, schedule your closing for the end of the month because that's when you'll have to pay the least amount of interest at the closing table.

2. Gather your funds
You may be required to bring funds to the closing. If they're not easily accessible, arrange early to transfer them to a liquid account to avoid last-minute problems. If the title company requires the funds in the form of a cashier's check, also leave time to stop by the bank and pick one up.

3. Purchase title insurance
Title insurance protects the policyholder against trouble with a home's title. Your lender will insist that you purchase a policy to protect it. You should also consider purchasing what's called an owner's title policy from the same insurer, which protects you from fraudulent claims against your ownership and errors in earlier sales. In some areas, sellers traditionally pay for the buyer's title policy. Shop online at Closing.com, EasyTitleQuote.com, and FreeTitleQuote.com. If your home has been sold within the past few years, ask the prior owner's insurance company for a reissue discount.

4. Line up homeowners insurance
Get quotes and compare policies to be sure coverage will be in effect by your closing date. An annual policy should run $500-$1,000, depending on your home's size, age, and amenities. If you live in an area where natural disasters occur, like earthquakes, floods, or hurricanes, you'll need separate insurance to protect your home.

5. Review your good-faith estimate and HUD-1 settlement sheet
Your lender must provide a good-faith estimate of your closing fees. Some of those fees can't change, and others can rise by 10%. Before you go to the closing, read your good-faith estimate, compare it with your HUD-1 settlement statement, and question any fees that increased.

6. Do a walk-through
Schedule an appointment to walk through the home one last time just before your closing. Make sure repairs you requested have been made, no major changes have occurred since you last viewed the property, and that the sellers left anything they agreed to leave and took all their belongings.

Also test electronics and appliances, such as the doorbell, dishwasher, washer and dryer, and oven, to ensure they're functioning properly. Do the same with the hot water heater and heating and air conditioning systems. Walk the yard to be sure no plants or shrubs have been removed.

7. Resolve issues identified in your walk-through
If your walk-through uncovers problems, you can delay the closing until the seller corrects them. But that's often not feasible because your lease is probably over and you've already scheduled movers. Another option is to negotiate a discount to your sales price to cover the cost of the work needed. If the air conditioning is on the fritz and a contractor says the repair will cost $500, ask that the sales price be reduced by that amount. If you make that request at closing, however, be ready for a delay while the title company redoes the paperwork.

A third option: Have the title company hold a portion of the seller's proceeds in escrow until the dispute is resolved. Once that happens, the funds will be released to you or the seller, depending on the outcome.

More from HouseLogic
Do you have the right amount of homeowners insurance?
Shop for an umbrella policy when you shop for homeowners insurance

G.M. Filisko is an attorney and award-winning writer who has endured several property closings, but the easiest was done through the mail. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

Keep Your Home Purchase on Track

Article From BuyAndSell.HouseLogic.com


By: G. M. Filisko


Published: March 30, 2010


You've found your dream home. Make sure missteps don't prevent a successful closing.

A home purchase isn't complete until you make it to the closing. Until then, the transaction can fall apart for many reasons. Here are five tips for avoiding mistakes that cause a home sale to crater.

1. Be truthful on your mortgage application
You may think fudging your income a little or omitting debts when applying for a mortgage will go unnoticed. Not true. Lenders have become more diligent in verifying information on mortgage applications. If you fib, expect to be found out and denied the loan you need to fund your home purchase. Plus, intentionally lying on a mortgage application is a crime.

2. Hold off on big purchases
Lenders double-check buyers' credit right before the closing to be sure their financial condition hasn't weakened. If you've opened new credit cards, significantly increased the balance on existing cards, taken out new loans, or depleted your savings, your credit score may have dropped enough to make your lender change its mind on funding your home loan.



Although it's tempting to purchase new furniture and other items for your new home, or even a new car, wait until after the closing.

3. Keep your job
The lender may refuse to fund your loan if you quit or change jobs before you close the purchase. The time to take either step is after a home closing, not before.

4. Meet contingencies
If your contract requires you to do something before the sale, do it. If you're required to secure financing, promptly provide all the information the lender requires. If you must deposit additional funds into escrow, don't stall. If you have 10 days to get a home inspection, call the inspector immediately.

5. Consider deadlines immovable
Get your funds together a week or so before the closing, so you don't have to ask for a delay. If you'll need to bring a certified check to closing, get it from the bank the day before, not the day of, your closing. Treat deadlines as sacrosanct.

More from HouseLogic
How maintenance adds to home values
Reducing closing stress

Other web resources
More on calculating closing costs


More on the closing process 



G.M. Filisko is an attorney and award-winning writer who wanted a successful closing on a Wisconsin property so bad that she probably made her agent rethink going into real estate. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

Energy Efficient Fireplaces: Wood-Burning and Gas-Burning

Article From HouseLogic.com


By: Rich Binsacca


Published: September 21, 2010


Energy-efficient fireplaces, both wood-burning and gas, let you enjoy the glow of a fire without letting your home heating energy go up in smoke.

A traditional wood-burning fireplace adds warmth and romantic ambience to a home's interior. But most are energy hogs, converting only 15% of wood's energy into useful heat. Fortunately, new energy-efficient fireplace designs are helping wood-burning fireplaces achieve efficiency ratings of 75% or more. Fireplace inserts and gas fireplaces are even more efficient.

Energy-efficient wood-burning fireplaces
If you're adding a wood-burning fireplace, avoid the standard design, which sends too much of your home's heated air up the chimney. Consider these energy-efficient wood-burning fireplaces:

•Rumford fireplaces feature a shallow box design that reflects more heat into the room.


•EPA-rated fireplaces have good performance and high energy-efficiency ratings. They are designed to pull in outdoor air for combustion, and circulate room air around the firebox to extract as much useable heat as possible. In addition, EPA-approved wood-burning fireplaces produce much less air pollution than standard fireplaces.


•Fireplace inserts are sealed metal boxes designed to fit inside masonry fireplace openings. They use outside air for combustion, and are designed to circulate and warm inside air. Inserts burn a variety of biomass fuels, including wood and pellets. Some units are rated at 80% efficiency.


If you already own a standard wood-burning fireplace, make it more energy efficient by installing glass doors. Glass doors limit the amount of room air that is sucked into the fireplace during combustion.



Glass doors work particularly well when a fire is burning down for the night and you must leave the damper open. Otherwise, glass doors block radiant heat; keep them open when your fire is blazing. Expect to pay $300 to $500 for glass doors, installed.



In California, glass or solid metal doors are required on all fireplace openings.

Energy-efficient gas fireplaces
If you want the convenience and low maintenance of a energy-efficient gas fireplace, you have two good options:

•Direct-vent gas fireplaces, which use two-way vents that supply outside air for combustion, have energy-efficiency ratings as high as 77%. That's better than the top gas fireplaces connected to a chimney.


•Vent-free gas fireplaces are even more energy-efficient because they don't send exhaust outside. But they release a lot of moisture into inside indoor air.


Tax credits for fireplaces
Some types of fireplaces qualify for a federal tax credit of up to $1,500 until the end of 2010. After that, certain states may provide tax credits for various types of energy-efficiency improvements, including fireplaces.



Rich Binsacca is the author of 12 books on various home-related topics and is currently a contributing editor for Builder and EcoHome magazines. He has written articles for Remodeling, Home, and Architectural Record, among several others. He intermittently uses the wood-burning fireplace and the gas-fueled freestanding stove that came with his current home.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

Costs of Adding a Fireplace

Article From HouseLogic.com


By: Rich Binsacca


Published: September 22, 2010


Installing a wood-burning, gas-burning, gel-fuel, or electric fireplace to your house costs $400 to $10,000, depending on the type of fireplace you select.

Installing a fireplace with a brick-lined hearth and a custom mantel can easily cost $10,000 or more. It's also possible to get a similar look for thousands of dollars less. Just shop for a ready-made unit and watch what you spend on the fireplace surround.

If your budget is really tight, a free-standing gel-fuel or electric fireplace eliminates installation costs. But be aware that some bare-bones alternatives don't completely succeed in mimicking a real wood fire.



Check local building codes for possible restrictions on the types of fireplaces that can be installed in your area.

Costs of a wood-burning fireplace
An open-hearth, wood-burning fireplace-like the ones you see in mountain resort hotels-requires the help of a skilled, professional mason and a budget approaching (and often exceeding) $10,000.



For an existing home, considerable renovation work is required, including a foundation to carry the weight of the firebox and chimney, and the cost of the chimney itself.



Expect to pay $7,000 to $10,000 or more.

Cost saver tip: Go for a drywall surround and a simple, wall-mounted mantle.


Costs of a gas-burning fireplace
A fireplace unit that burns natural gas or propane runs about $2,000 for the basic materials package. Installation and finishing typically add $2,500.

Cost saver tip: Switch to a simpler surround and mantle, and get a direct-vent fireplace so you don't need a chimney. Or, opt for a vent-free gas fireplace for $400 or so. Hiring a professional to install a gas line or a connection to a propane tank adds about $1,000.


Your least-expensive option
A gel-fuel fireplace or an electric fireplace starts under $400. With a portable unit, that's the total cost since the fireplace is ready to use once you remove the packaging.



Because there's no flue or chimney, it's easy to install TVs or other electronic gear directly above an electric fireplace. If you include a mantel package, expect to pay $800 to $1,600. One perk available: sound effects that mimic the crackle and pop of a real fire.

Ongoing costs
Estimate your energy costs by using a fuel cost comparison calculator. Gel fuel, not included in the calculator, costs $3 per 13-ounce can, enough for three hours.

For a wood-burning fireplace, figure on $100 to $200 a year for chimney cleaning. Gas fireplaces need an annual service check ($100 to $150) plus a chimney inspection. Gel-fuel and electric fireplaces don't need regular maintenance.

Tax credits for fireplaces
Through Dec. 31, 2010, you may qualify for a federal tax credit for 30% of your costs, up to $1,500, if you install a wood-burning fireplace that's at least 75% fuel-efficient.



Rich Binsacca is the author of 12 books on various home-related topics and is currently a contributing editor for Builder and EcoHome magazines. He has written articles for Remodeling, Home, and Architectural Record, among several others. He intermittently uses the wood-burning fireplace and the gas-fueled freestanding stove that came with his current home.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

Adding a Fireplace: Return on Investment

Article From HouseLogic.com


By: Rich Binsacca


Published: September 22, 2010


Installing a fireplace is a popular project, but don't expect a significant return on your investment.

With costs ranging up to $10,000 for a traditional brick hearth and mantel, installing a fireplace is a serious investment. If you're wondering if you'll get a return on that investment, the answer is: probably not.

While intangible benefits such as comfort and ambience may make a fireplace addition worth the cost for you, consumer attitudes toward fireplaces are changing. Here are the facts:

Fireplaces no longer are preferred features
•In 2007, the National Association of REALTORS survey of homebuyers' preferences listed fireplaces as the most preferred home feature. Almost 46% of homebuyers said they would pay extra (a median of $1,220) for a house with at least one fireplace, the most popular "desired feature" in the survey. However, more recent surveys from the National Association of Homebuilders show that support is slipping, and REALTOR® Magazine recently put fireplaces No. 1 on the list of "Home Fads That Are Falling Out of Style." That means chances of receiving price support for your fireplace addition when you sell your home are diminishing.


•According to the U.S. Census Bureau, 53% of new homes built in 2008 included at least one fireplace. That's down from a peak of 66% in 1990, although the numbers may also reflect builders' attempts to save costs for development houses.


•A fireplace isn't calculated separately in a professional home appraisal, making it difficult to assign increased value from your investment.


Match your fireplace budget to your house
When you estimate how much a fireplace might add to the value of your house, consider your home's overall value. A $10,000 fireplace holds its value in a $1 million house because buyers expect this feature in an upscale home. But a $10,000 fireplace might not be such a crucial component of a $100,000 house, especially if features that potential buyers consider more important are lacking.

Get value from your fireplace investment
•Put a new fireplace in a room other than the kitchen--usually the family room or great room.


•Locate a fireplace in a smaller, easy-to-heat room such as an office, guest bedroom, or master bedroom.


•Equip your fireplace with energy-efficient glass doors and an exterior venting system that prevents heated air from being pulled out of rooms.


Rich Binsacca is the author of 12 books on various home-related topics and is currently a contributing editor for Builder and EcoHome magazines. He has written articles for Remodeling, Home, and Architectural Record, among several others. He intermittently uses the wood-burning fireplace and the gas-fueled freestanding stove that came with his current home.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

Wood-Burning Fireplace Inserts Save Energy

Article From HouseLogic.com


By: Wendy Paris


Published: September 22, 2010

Install a wood-burning fireplace insert if you want to keep the magic of a wood fire but make your open fireplace more energy efficient.

If your house has a traditional fireplace, you might love the authentic crackle of the fire and the warm ambience that fills your rooms. But that romantic hearth is costing you money-90% of the heat generated by an open fire goes right up the chimney.



The remedy? A wood-burning fireplace insert captures the good vibes and keeps your heat from going up in smoke.

A wood-burning fireplace insert is a metal box that fits inside your existing masonry fireplace opening. A decorative flange fits around the outside edges so that no gaps appear between the unit and the sides of the fireplace. A new metal chimney liner is required to carry combustion gases and smoke up through your chimney.



Fireplace inserts have clear heat-proof glass doors. The best designs circulate air within the firebox in a way that helps keep the glass clean.



Wood-burning fireplace inserts heat 1,000 to 3,000 square feet, depending on their size. Talk to your insert dealer about the size of your existing fireplace and what heating capacity you can expect from an insert.



Inserts cost $3,000 to $4,000, including installation and a chimney liner.

High marks for energy efficiency
An enclosed firebox ensures the highly efficient combustion of wood, helping you extract the most heat for the least cost. Most wood-burning fireplace inserts include a fan to help circulate room air around the firebox and release it back into the room.



A wood-burning fireplace insert helps cut heating costs by 10% to 40%. That's a savings of $64 to $255 a year for the average homeowner. Though fuel prices can fluctuate wildly, savings could be even greater if you rely on pricier electricity or fuel oil for heating, rather than natural gas or propane.



Improvements in the designs of wood-burning fireplace inserts over the past five years mean almost all new units now meet the guidelines for fuel efficiency set by U.S. Environmental Protection Agency of 60% to 80%.

Advantages of a fireplace insert
•An insert designed to heat 1,500 square feet will burn for three to five hours before you need to reload-a lot less hassle than tending an open fireplace.


•Firewood is an economical fuel in many regions, costing just $922 per year to heat a typical home when the wood is burned efficiently. If you cut the wood yourself, it might even be free. If you buy, you support local jobs.


•Efficient combustion reduces the amount of noxious gases and particulates produced by an open fireplace.


Disadvantages of a fireplace insert
•You'll still need to stack and load firewood and empty ashes periodically.


•The fire is behind glass doors rather than exposed.


•Fitting an insert into an existing fireplace opening can be tricky. In some instances, the insert may protrude beyond the fireplace surround, and you'll have to add trim to make up the difference.


•The payback period on your investment may be 15 years or longer.


Tax credits for wood-burning fireplace inserts
There's a federal tax credit available until the end of 2010 for fireplace inserts that burn wood, pellets or other biomass fuels, and are at least 75% efficient. The tax credit is good for 30% of what you spend, up to $1,500, and includes installation expenses.



The federal tax credit expires at the end of 2010. After that, certain states may provide tax credits for various types of energy-efficiency improvements, including fireplaces.



Wendy Paris is a writer in New York. She recently built a home in New York's Catskill Mountains and installed a wood stove in the living room that can heat up the entire first floor. She loves her wood stove. She's written about building her house for This Old House magazine.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

Gas Fireplace Inserts: Pros and Cons

Article From HouseLogic.com


By: Wendy Paris


Published: September 22, 2010


Add a gas-burning fireplace insert if you want clean air and the ultimate in convenience.

Flip a switch; have fire. That's the key appeal of a gas fireplace insert. You still enjoy real flames, but without the hassles of solid fuel. There is no firewood to stack, bags of pellets to dump, and no ashes to clean out. The air inside your house and in your neighborhood stays clean, too. No wonder that about 70% of all hearth products-fireplaces, inserts, and artificial log sets-now burn gas.

Unlike old decorative gas fireplaces, today's gas inserts are heat-producing dynamos that use natural gas or propane to power a steady flame dancing on fake logs, decorative modern glass chips, or stones behind a sealed glass face.

Gas inserts are available as vented units or unvented units.

•Direct-vent units are safest. They draw in outside air to keep the flame burning and exhaust all the combustion gases and water vapor released by burning gas.


•Ventless inserts have a higher efficiency rating (92% to 99% vs. 60% to 80% for direct-vent inserts) because no heat escapes up the chimney. But the exhaust fumes and moisture released from burning gas stay in your house, which may be a cause for concern.


Most ventless gas fireplace inserts are considered safe for homeowners because they include an oxygen-depletion sensor that turns gas off before carbon monoxide reaches dangerous levels in the room. Nevertheless, some states don't allow ventless gas units.



Check your local building codes regarding the types of fireplace inserts allowed in your area.

Capacity and cost of inserts
A gas-burning fireplace insert heats 1,000 to 3,000 square feet, depending on its size. Talk to your insert dealer about the size of your existing fireplace and what heating capacity you can expect from an insert.

Inserts cost $3,000 to $4,000, including installation and a chimney liner.

Upsides to a gas fireplace insert
•Gas fireplace inserts can be used in masonry or prefab fireplaces; they can be vented through the existing chimney (or a wall for a free-standing unit).


•Gas inserts require little maintenance beyond an annual $75 to $125 checkup. Its best application is for zone heating-turning up the gas in the room you're in and lowering the thermostat in the rest of your house.


•There's a definite green factor--they burn with a 65% to 99% efficiency rating, which means very little pollution or smoke.


•There's no ash or creosote produced with a gas-burning unit.


On the downside
•Gas inserts means you're burning fossil fuel, making the unit ineligible for the federal tax credit (which expires at the end of 2010) and unattractive if you're eager to reduce your carbon footprint.


•Propane is an expensive heating fuel-you won't save money heating your whole house with a gas insert.

•You'll spend more on gas or propane than you would on wood or pellets to produce the same amount of heat.


•A gas insert burns fossil fuel, so it doesn't qualify for the 30% tax credit available for inserts that burn biomass, such as wood or pellets.


Wendy Paris is a writer in New York. She recently built a home in New York's Catskill Mountains and installed a woodstove in the living room that can heat up the entire first floor. She loves her wood stove. She's written about building her house for This Old House magazine.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

Negotiate Your Best House Buy

Keep your emotions in check and your eyes on the goal, and you'll pay less when purchasing a home.

Buying a home can be emotional, but negotiating the price shouldn't be. The key to saving money when purchasing a home is sticking to a plan during the turbulence of high-stakes negotiations. A real estate agent who represents you can guide you and offer you advice, but you are the one who must make the final decision during each round of offers and counter offers.

Here are six tips for negotiating the best price on a home.

1. GET PREQUALIFIED FOR A MORTGAGE
Getting prequalified for a mortgage proves to sellers that you're serious about buying and capable of affording their home. That will push you to the head of the pack when sellers choose among offers; they'll go with buyers who are a sure financial bet, not those whose financing could flop.

2. ASK QUESTIONS
Ask your agent for information to help you understand the sellers' financial position and motivation. Are they facing foreclosure or a short sale? Have they already purchased a home or relocated, which may make them eager to accept a lower price to avoid paying two mortgages? Has the home been on the market for a long time, or was it just listed? Have there been other offers? If so, why did they fall through? The more signs that sellers are eager to sell, the lower your offer can reasonably go.

3. WORK BACK FROM A FINAL PRICE TO DETERMINE YOUR INITIAL OFFER
Know in advance the most you're willing to pay, and with your agent work back from that number to determine your initial offer, which can set the tone for the entire negotiation. A too-low bid may offend sellers emotionally invested in the sales price; a too-high bid may lead you to spend more than necessary to close the sale.

Work with your agent to evaluate the sellers' motivation and comparable home sales to arrive at an initial offer that engages the sellers yet keeps money in your wallet.

4. AVOID CONTINGENCIES
Sellers favor offers that leave little to chance. Keep your bid free of complicated contingencies, such as making the purchase conditional on the sale of your current home. Do keep contingencies for mortgage approval, home inspection, and environmental checks typical in your area, like radon.

5. REMAIN UNEMOTIONAL
Buying a home is a business transaction, and treating it that way helps you save money. Consider any movement by the sellers, however slight, a sign of interest, and keep negotiating.

Each time you make a concession, ask for one in return. If the sellers ask you to boost your price, ask them to contribute to closing costs or pay for a home warranty. If sellers won't budge, make it clear you're willing to walk away; they may get nervous and accept your offer.

6. DON'T LET COMPETITION CHANGE YOUR PLAN
Great homes and those competitively priced can draw multiple offers in any market. Don't let competition propel you to go beyond your predetermined price or agree to concessions-such as waiving an inspection-that aren't in your best interest.

MORE FROM HOUSELOGIC

Determine how much mortgage you can afford

Keep your home purchase on track

Plan for a stress-free home closing

OTHER WEB RESOURCES

More negotiating tips

Develop a homebuying strategy

G.M. Filisko is an attorney and award-winning writer who has to remind herself to remain unemotional during negotiations. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Article From Houselogic.com

By: G. M. Filisko

Published: June 04, 2010

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

Fielding a Low Ball Purchase Offer on Your Home

Consider before you ignore or outright refuse a very low purchase offer for your home. A counteroffer and negotiation could turn that low purchase offer into a sale.

You just received a purchase offer from someone who wants to buy your home. You're excited and relieved, until you realize the purchase offer is much lower than your asking price. How should you respond? Set aside your emotions, focus on the facts, and prepare a counteroffer that keeps the buyers involved in the deal.

CHECK YOUR EMOTIONS
A purchase offer, even a very low one, means someone wants to purchase your home. Unless the offer is laughably low, it deserves a cordial response, whether that's a counteroffer or an outright rejection. Remain calm and discuss with your real estate agent the many ways you can respond to a lowball purchase offer.

COUNTER THE PURCHASE OFFER
Unless you've received multiple purchase offers, the best response is to counter the low offer with a price and terms you're willing to accept. Some buyers make a low offer because they think that's customary, they're afraid they'll overpay, or they want to test your limits.

A counteroffer signals that you're willing to negotiate. One strategy for your counteroffer is to lower your price, but remove any concessions such as seller assistance with closing costs, or features such as kitchen appliances that you'd like to take with you.

CONSIDER THE TERMS
Price is paramount for most buyers and sellers, but it's not the only deal point. A low purchase offer might make sense if the contingencies are reasonable, the closing date meets your needs, and the buyer is preapproved for a mortgage. Consider what terms you might change in a counteroffer to make the deal work.

REVIEW YOUR COMPS
Ask your REALTOR whether any homes that are comparable to yours (known as "comps") have been sold or put on the market since your home was listed for sale. If those new comps are at lower prices, you might have to lower your price to match them if you want to sell.

CONSIDER THE BUYER'S COMPS
Buyers sometimes attach comps to a low offer to try to convince the seller to accept a lower purchase offer. Take a look at those comps. Are the homes similar to yours? If so, your asking price might be unrealistic. If not, you might want to include in your counteroffer information about those homes and your own comps that justify your asking price.

If the buyers don't include comps to justify their low purchase offer, have your real estate agent ask the buyers' agent for those comps.

GET THE AGENTS TOGETHER
If the purchase offer is too low to counter, but you don't have a better option, ask your real estate agent to call the buyer's agent and try to narrow the price gap so that a counteroffer would make sense. Also, ask your real estate agent whether the buyer (or buyer's agent) has a reputation for lowball purchase offers. If that's the case, you might feel freer to reject the offer.

DON'T SIGNAL DESPERATION
Buyers are sensitive to signs that a seller may be receptive to a low purchase offer. If your home is vacant or your home's listing describes you as a "motivated" seller, you're signaling you're open to a low offer.

If you can remedy the situation, maybe by renting furniture or asking your agent not to mention in your home listing that you're motivated, the next purchase offer you get might be more to your liking.

MORE FROM HOUSELOGIC

6 Tips for Choosing the Best Purchase Offer for Your Home

6 Reasons to Reduce Your Home Price

Marcie Geffner is a freelance reporter who has been writing about real estate, homeownership and mortgages for 20 years. She owns a ranch-style house built in 1941 and updated in the 1990s, in Los Angeles.

Article From Houselogic.com

By: Marcie Geffner

Published: June 10, 2010

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

Listing and Selling Your Green Home

If you want to get the full value for your green home when it comes time to sell, use a green real estate agent and a green MLS.

You've upgraded your home with the latest green features and there's an eco-friendly buyer out there looking for a green home. How can the two of you connect?

CHOOSE A GREEN REAL ESTATE AGENT

Hire a real estate agent who knows as much about green homes as you do. About 5,000 REALTORS® nationwide have earned the NATIONAL ASSOCIATION OF REALTORS Green Designation by taking classes in green building, sustainable business practices, and green home marketing. A private company offers the EcoBroker designation.

Questions to ask a REALTOR who specializes in green homes:

* Have you had special training in selling green homes?

* Do you serve buyers seeking green houses and do you have a list of buyers actively seeking green homes?

* How many green home sales have you completed in the past year?

* How do you market a green home differently than a regular home?

ASK WHETHER YOUR MLS IS GREEN

About 30 to 40 of the 900 home MLSs nationwide (databases where agents list properties for sale) have special fields in which your agent can identify your home's green features. Agents for potential buyers can search a green MLS to look for a green home or green features like solar panels or an energy-efficient furnace.

Over time, as the home MLS data grow, the results will help appraisers easily find comparable sales of green homes, which they can then use to more accurately value a green home like yours.

On the web, large sites that use home MLS data offer some green home search capacity. At http://www.realtor.com(http//www.Realtor.com), you can search broadly for energy-efficient homes, but not for specific features like solar panels. At Trulia.com you can use keyword search terms like "solar" or "green," but in addition to pulling homes with green features, that search will also bring back listings by real estate agents named Green and homes on streets with the word "solar" in the name.

Curious if your area has a green MLS? Among other places, you'll find them in:

* Albuquerque

* Austin, San Antonio, and Houston, Texas

* Charleston, S.C.

* Memphis and middle Tennessee

* Portland, Ore.

* Santa Barbara and southern California

* Traverse City, Mich.

* Triangle region of North Carolina

* Tucson and Phoenix, Ariz.

LIST YOUR HOME'S GREEN FEATURES

You can trumpet your home's greenness in two ways in the typical green MLS.

Your real estate agent can note if your home or its features have been officially certified or designated green. Then, agents for homebuyers interested in green homes can search for local designations as well as national designations and certifications like:

* Leadership in Energy and Environmental Design (LEED)

* Energy Star

* Enterprise Green Communities

* The Environmental Protection Agency's airPLUS Guidelines and Water Sense programs

* Home Energy Rating System (HERS Index)

* Living Building Challenge

* National Green Building Standard

The other way to highlight your house's green features is to specify them in the home MLS' searchable fields. For example, if you have solar panels, water-saving devices, or geothermal heating, your agent can check those fields. Real estate agents helping buyers interested in a green home can also use the search function to find green homes with specific features.

In some green MLSs, your agent can highlight the brand and model of energy-efficient appliances and building materials. The result is a movement toward a more standardized and accurate way for buyers to find the type of home they want and for you to highlight your home's green upgrades.

USE THE HOME MLS COMMENTS SECTION

What if your local home MLS isn't green? Your agent can market your home's green features in the home MLS by listing them in the additional remarks space. Work with your agent so she knows which features you'd like to highlight, which feature she recommends highlighting, and how those features contribute to your home's energy efficiency and eco-friendliness.

CAN YOU GET MORE MONEY FOR A GREEN HOME?

Data show your green home could sell faster and at a higher price than a similar house without green features. In 2009, certified green houses in Atlanta sold 31 days faster than traditional homes, according to the Earth Advantage Institute, a Portland, Ore., nonprofit that certifies green homes. Certified green houses in Seattle built from 2000 to 2008 sold for 8% to 9% more per square foot than traditional homes, according to local sales statistics.

MORE FROM HOUSELOGIC

Professional energy audits

What you should know about appraisals

OTHER WEB RESOURCES

REGREEN residential remodeling guidelines

More on tax credits for energy efficiency

G.M. Filisko is an attorney and award-winning writer who just added energy-efficient windows to her Chicago condo. A regular contributor to many national publications including Bankrate.com, REALTOR Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Article From Houselogic.com

By: G. M. Filisko

Published: August 04, 2010

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).Copyright 2010. All rights reserved.

August 2010 Top Producers

Coldwell Banker Sea Coast Realty is pleased to announce our Top Producers for August 2010.

Wilmington Office
Top Listing Agent - Jennifer Farmer
Top Selling Agent - Jessica Riffle Edwards
Top Listing Team - Jack Gale Team
Top Selling Team - Cynthia Strickland Team

Carolina Beach Office
Top Listing Agent - Sherri Pridgen
Top Selling Agent - Julie Damron
Top Listing Team - Shawndy Conway & Jessica Keenan
Top Selling Team - Shawndy Conway & Jessica Keenan

North Brunswick Offices
Top Listing Agent - Lynda Haraway
Top Selling Agent - Mark Koellmer
Top Listing Team - Dennis and Penny Krueger Team
Top Selling Team - Emily Willetts Team

Onslow/Pender Offices
Top Listing Agent - Christina Pitz
Top Selling Agent - Christina Pitz
Top Listing Team - Roger Mitchell Team
Top Selling Team - Roger Mitchell Team

Hampstead Office
Top Listing Agent - Lisa Mathews
Top Selling Agent - Lisa Mathews

Leland Office
Top Listing Agent - Karen Schwartz
Top Selling Agent - Karen Schwartz

South Brunswick Office
Top Listing Agent - Scott Haigler and Jeanette Haigler
Top Selling Agent - Monroe Enzor

Top New Home Sales Associate
Chris Cunningham and Tom Craigg

August 2010 OVERALL TOP PRODUCERS
Roger Mitchell
Cynthia Strickland
Jack Gale
Christina Pitz
Stephanie Gasparovic
Brett Knowles
Emily Willetts
Karen Schwartz
Lori Smith
Beth Fortunato

6 Questions Foreclosure Buyers Should Ask

By: James J. Saccacio

There are questions that buyers in any market should be asking before they make an offer on a property in foreclosure.

1. Is now a good time to buy a foreclosure?

This is a very common question from both real estate professionals and prospective buyers. Obviously, because local market conditions vary, the answer is different from market to market. But there are questions that buyers in any market should be asking before they make an offer on a property in foreclosure.

2. What's the first step buyers need to take?

Require buyers you work with to be preapproved for a loan before you help them shop for a foreclosure. If they're thinking of buying a foreclosure as an investment or second home, they need to understand that financing the home will be more difficult and more expensive than financing a primary residence. Lenders typically charge higher interest rates and require a larger down payment for investment or second homes.

3. How can you tell a bad foreclosure from a good one?

Certainly there are great deals in many markets for both investors and buyers looking for a primary residence. But making a sound deal can be tricky. Buyers need to be wary of unpaid liens, including mortgage debt, taxes, construction loans, home equity lines of credit, and possibly a second or third mortgage. Any or all of these financial obligations could become your clients' responsibility when they purchase a property in foreclosure. Unless the property goes through a foreclosure auction and becomes a bank-owned REO, the outstanding foreclosure liens and fees could be simply transferred to the new owner-your clients. Don't let them fall into the same financial trap as the previous owner.

4. If I'm a qualifying borrower, can I appeal to banks for better loan terms?

Lenders are drowning in defaults-particularly in hard-hit real estate markets such as Arizona, California, Florida, Michigan, Nevada, and Ohio-so they may be motivated to cut a deal. If your clients have a good credit score, many banks will offer them a below-market-rate loan on a bank-owned home. Unlike paying down with points, this doesn't cost anything in fees, and it gives them the ability to spend more for the home.

5. What are the costs of buying a foreclosure?

It takes money to make money. The best opportunities are for buyers with cash. If your clients are planning to rent out the property or even resell it for a quick profit, make sure they consider the carrying costs, including sales commissions, marketing costs, vacancies, taxes, insurance, and maintenance costs. Once you've calculated all the expenses, add on another 10 percent to 15 percent. If they don't build in a "surprise fund," your clients might be the next foreclosure statistic.

6. How does choice of neighborhood affect foreclosure investments?

Clients looking for a good investment should generally avoid neighborhoods overrun with foreclosures, particularly newer subdivisions in overbuilt exurban areas. Investors will be tempted to buy foreclosures in these areas because they offer the steepest discounts-but they also carry the most risk of further depreciation. Look in well established neighborhoods with good schools and transportation. If you're in a market where prices are still falling, encourage your clients to factor falling prices into any offer they submit on a foreclosed property.

James J. Saccacio is chief executive officer of RealtyTrac, a Web site that tracks properties in foreclosure.

Published: April 2010 REALTOR magazine

Reprinted from REALTOR® magazine with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All rights reserved.

Factors that Influence Property Appraisals

By Barbara Ballinger

Here are some of the factors that appraisers Joni L. Herndon of Real Property Analysts/Gulf Coast in Tampa, Fla., and John A. Hillas of Hulbert & Associates Inc. in Modesto, Calif., say they consider when determining value.

* Incentives and concessions. Most of today's buyers expect to pay the lowest possible price and still get some extras. Sellers and home builders are offering money toward closing costs, remodeling and decorating, upgrades, and association dues. The price set initially may not be the final price once concessions are factored out. Appraisers care about that final number.

* Closing date. Forget what comparable neighborhood houses sold for a few months back. Appraisers want prices from the most recently closed transactions. "If a sale was more than 45 days ago, even 35, the price may be irrelevant," Hillas says.

* Condition and curb appeal. Appraisers typically find several properties with similar interior and exterior features to determine value. When markets are healthy, blemishes matter less, but when markets soften, problems-a dated kitchen or barren lawn-can reduce prices and deter buyers. "The difference in value is not just the repair costs but the time and hassle to make them. It's better for sellers to do work in advance," Hillas says.

* Foreclosures. Appraisers technically shouldn't consider neighborhood foreclosures when valuing a home, since foreclosures don't meet the Appraisal Institute's definition of a property reasonably exposed in a competitive market, says Herndon. "But when several neighborhood homes are abandoned, it's hard not to caution sellers that this is a troubling trend and may affect home values," she says.

* Changing demographics. If a house is in an up-and-coming area, the value can be expected to rise. A location that's perceived as safe also may help attract the increasing number of single female buyers.

* Economic clouds. If there's an oversupply of comparable homes for sale, or if the local job market is suffering, buyers may be hesitant to invest. Hillas advises setting prices aggressively from the get-go.

* Chemistry. It's hard to account for those times when buyers fall in love with a house, despite a high price, poor condition, or tough economy. "Emotional attachment is a factor that can't be predicted," says Herndon. Hillas agrees, "It's what makes it harder to appraise homes versus commercial buildings, where buyers care more about the bottom line."

Published: April 2009 REALTOR magazine

Reprinted from REALTOR® magazine with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All rights reserved.