What you need to know about credit if you're thinking of renting or buying a house!

Your credit score has a critical impact on your housing options, and healthy credit is essential to buying a home or renting one. “An important step to finding a home, whether you’re renting or buying, is ensuring that you have a good credit history,” says Frank Keating, president and CEO of the American Bankers Association (ABA). “A strong credit score can open doors to better homes and lower mortgage rates.”

Because the first step to homeownership is getting prequalified with a mortgage lender.  We work with several awesome lenders, who all do credit counseling to help buyers become more credit worthy before committing to a mortgage!  Want to know more about the home buying process?  Click HERE!

To build a good credit history, the ABA recommends adopting these habits.

1. Request a copy of your credit report–and make sure it is correct. Your credit report illustrates your credit performance, and it needs to be accurate so that you can apply for other loans, such as a mortgage. Everyone is entitled to receive a free copy of his or her credit report annually from each of the three credit reporting agencies, but you must go through the Federal Trade Commission’s website at www.AnnualCreditReport.com or call 1-877-322-8228. Note that you may have to pay for the numerical score itself.

2. Set up automatic bill pay. Payment history makes up 32 percent of your VantageScore credit score and 35 percent of your FICO credit score. The more you pay your bills on time, the better your score. Avoid missed payments by setting as many of your bills to automatic pay as possible.

3. Keep balances low on credit cards and ‘revolving credit.’ Racking up big balances can hurt your scores, regardless of whether you pay your bills in full each month. You often can increase your scores by limiting your charges to 30 percent or less of a card’s limit.

4. Apply for and open new credit accounts only as needed. Keep this in mind the next time a retailer offers you 10 percent off if you open an account. If you need a new line of credit, don’t jump at the first appealing offer; compare rates and fees offered through mail solicitation, on the Internet or at your local bank.

5. Don’t close old paid off accounts. According to FICO, closing accounts can never help your score and can in fact damage it.

6. Talk to credit counselors if you’re in trouble. Using legitimate, non-profit credit counseling can help you manage your debt and won’t hurt your credit score. For more information on debt management, contact the National Foundation for Consumer Credit by visiting www.NFCC.org.

If you would like to chat more about how credit can effect your ability to buy a home or rent in Jacksonville, North Carolina, give us a call!  910.707.4636

Top 12 things homebuyers should know about homeowners insurance!

When purchasing a home, homebuyers will need to start looking for homeowners insurance.  Where to start?  There is a lot of misconceptions when it comes to homeowners insurance policies- what you need, what you don't need, what would be a really good idea to have, how much it affects your monthly payment, and so on.  Even something as simple as understanding the lingo can be confusing!  Check this website for a complete list of definitions!
Insurance salespeople have one of the easiest sales jobs in the world: they’re selling fear. Selling an emotion is incredibly profitable, and fear is an incredibly strong emotion. However, a lot of times that fear is real, especially when it serves to protect one of the biggest investments you’ll ever make: your home.
Although no one likes to dwell on the “what ifs,” it’s important to protect yourself against the unexpected. Feeling the security that comes with knowing your home is insured is worth a lot more than a monthly payment.

Here are the basics Fox Business reports every homeowner should know about home insurance:

1. Make sure you not only shop around for a policy, but for the best agent too. Insurance agents can help you get back on your feet after a disaster or make the situation feel even more impossible.
2. A typical policy covers damage to your property and possessions in the event of theft, fire, or vandalism (even if the possessions are outside of the home) and provides liability coverage if someone is hurt on the property and sues. It also covers shelter costs, meaning if you’re displaced you won’t have to pay a lot of money out-of-pocket for your temporary residence.
3. A standard policy doesn’t cover earth movements (earthquakes, sinkholes, landslides), war, nuclear hazards, power failure, faulty zoning, government action, defective maintenance, bad workmanship, faulty repairs or flooding. In general, water damage from above (think rainwater or a burst pipe) is covered, while water from below (think flooding) isn’t.
4. You may need to get supplemental coverage if the region you live in is prone to natural disasters like earthquakes, flooding, hurricanes or tornadoes.  In Onslow County, North Carolina, it's required to have a separate wind and hail policy as well as a homeowners policy.
5. Understand the difference between market value and replacement cost. Before deciding which type of policy to purchase, understand what you’re paying for. Market value is how much a buyer would pay for your home in its current condition (after a natural disaster, fire, etc). Replacement cost plans cover the repair or replacement of your entire home.
6. Reduce premiums by installing working smoke detectors, deadbolts, a burglar alarm system, a pool cover, and a fence around the pool. Reducing liability equals a reduced premium.
7. Bundling your home insurance with other policies like your life or car insurance can also save you money.
8. Make sure to take note of the time limits to report a claim. If something happens, make sure to get your claim in on time or else you risk being ineligible for benefits. Furthermore, waiting may make the problem worse.
9. Keep records of all claims. Document everything that occurs during a loss to mitigate a claim being denied or not being paid in full. Save contracts, appraisals, and receipts and document phone calls.
10. Keep an eye on your systems. Have routine check-ups done on major systems. If you’re able to make a smaller fix due to your early detection and prevent a bigger claim, your insurance company will most likely reward you.
11. Note your policy’s limit on jewelry. Get an appraisal for how much your jewelry costs, and then consider buying a supplementary policy to cover what your home insurance doesn’t.  In North Carolina, you automatically have a higher coverage limit on firearms than you do on jewelry.  If you own more valuable jewelry, it might be worth discussing getting an additional policy to cover it.
12. When in doubt, file a claim. The worst that can happen is it gets denied. This best is that you get a new roof because of a windstorm and a few missing shingles. Don’t file frivolously though, only file claims you’re certain and on the fence about, because filing needlessly could lead to an increase in your premium.  Your insurance agent can help guide you through this process, as well as help you determine if it's worth it or not.

Although thinking about everything that could go wrong with your home can be overwhelming, it’s necessary. Protecting your biggest investment is one of the best decisions you can make; after all, once a house becomes a home, it’s priceless.
When purchasing a home, our team can share with you several reputable insurance agents' information so that you can confidently shop around and have a thorough understanding of what your homeowners insurance policy covers, and what it doesn't!

Price, Shmice. Why looking for a 'good deal' isn't always the best way to buy a house.

When buying a house, price is always a factor.  Always.  But at what cost will you chase 'the good deal' in lieu of finding the perfect home?

Sometimes price isn't king for many home buyers.  Not to say that you should throw money at the first house you love.  However, when shopping for a house, it's never a good idea to rule out a home that you might love simply because there is another house with a better price.

"A house affects so much of your life," said Will Lipovsky with First Quarter Finance. "Living in a beautiful house improves my mood quite a lot.  Excellent location, fine craftsmanship, and plenty of space...it's worth spending a few extra dollars in my opinion."

Affordability

I will certainly never suggest living outside your means, or committing to a mortgage on a house twice your budget.  But upping your budget to cater to better location, better amenities that cater to your lifestyle, bigger floorplan to grow into can make a huge difference without causing financial ruin.


Consider this:

Principal and interest (P&I) on a $200,000 house at four percent is $954.83 per month. Raise that budget to $250,000, and the P&I goes to $1,193.54. Will that $50,000 make the difference between a starter home and a dream home? Maybe not. But in a first-time buyer market, it can greatly improve the location, the space, or both, and all for $238 a month.

P&I on a $400,000 house at four percent is $1909.66. Opt to buy a $500,000 house instead, and you'll pay $2,387.08 per month. The $477 increase in your monthly payment can make a world of difference in the house you buy, and how you feel about it.

The term 'house poor' sounds awful, because it is!  You certainly don't want to over buy, and you certainly still want to make a solid financial choice that will allow you to eat more than cereal and ramen noodles everyday.  But in this instance, isn't a home that you can be happy in and excited about, worth forgoing a Starbucks run a couple times a week, or brown bagging it to work, rather than hitting the drive thru?

There are many ways to find extra dollars to go toward your home.  Here are some options that can make an impact.

Eating Out.
A night out in a restaurant is no longer a novelty.  "Sales at restaurants overtook spending at grocery stores...for the first time ever, according to Commerce Department data released [in April 2014] for the first time since 1992," as reported by Bloomberg Business.


What does that translate to?  More than $6,000 a person for the average American. For many home buyers in the Jacksonville area, $12,000 is their annual mortgage expense.  Dinner out with your spouse could equal owning your home.

According to Forbes, "Americans go out for lunch on average twice a week and spend $10 each time. That means they're spending $936 annually." Between two adults, you just found almost $2,000 a year just by bringing your lunch. Will that buy you the estate with the view? Nah. But it'll get you closer to owning a home, which is the first step to financial freedom and wealth.

Check Out Your Ride.
Are you driving the latest model with all the bells and whistles?  If the answer is yes, you're likely paying close to $700 every month for your vehicle.  Which could translate to a monthly payment on a home priced around $120,000, depending on loan type and fees.  You don't need to necessarily get rid of your ride.  You could possibly trade it in for the next lower model type, or perhaps negotiate a lower interest rate on the payments if you've been current and on time.  Or, even, go with a hybrid.  There's a couple hundred dollars a month in gas, saved!

Declutter and Downsize.
Antique furniture sitting in the corner of the garage, old electronics collecting dust in the attic, and old handbags you're never going to use again can make you money. Check sites like Huffington Post and Country Living to get an idea of the worth of things like antiques and collectibles. Other things might be eBay worthy. Mashable has a list of the "9 Valuable Things You Didn't Know Are Lying Around Your House." (Pokemon cards? Really?)

Crowdsource It.

Have a birthday, wedding, or anniversary coming up? Let your loved ones contribute to your down payment.
Need more ideas? The Simple Dollar has 100 - yes, 100 - more ways you can cut back and save money. Soon, that dream house will be right around the corner!
 

What's going on in Jacksonville?

This weekend, May 2nd-May 3rd, you can hop over to the Jacksonville Commons and take part in the Jacksonville Jamboree.  The jamboree started as a basketball tournament and has grown to include rides, vendors, musical talents, and plenty of food for everyone.  It's shaping up to be a beautiful weekend, which is perfect to walk around and see what the Jacksonville Jamboree has to offer!

Spring has sprung in Jacksonville!!in this summer!  Jumping into May, residents of Jacksonville and the surrounding areas can take part in everything from the Jacksonville Jamboree to the Pirate Fest and Strawberry Festival!

 

If the Jamboree doesn't strike your fancy, suit up and go play with pirates at the Pirate Fest in Swansboro, 'The Friendly City By The Sea.'  Bring 'yer mateys down for a black powder demonstration and a treasure hunt!! 


Next weekend the Strawberry Festival in Wallace kicks off with the 5K, Golf Classic, and strawberries of course!  

 
After the Strawberry Festival, how about camping out?  Onslow Pines Park in Jacksonville is hosting "Park After Dark!"  You can set up your own campsite, take part in a scavenger hunt, and watch movies in the park!

Onslow County Parks and Recreation is planning a plethora of events and fun things to do in and around Jacksonville this summer.  Keep an eye out and start planning your fun weekends!!  Please share any other events that are upcoming and pass this along to others to find what's going on in Jacksonville.

 

311 Exmoor Drive, Jacksonville, North Carolina 28540. SOLD in 65 Days! Call Amanda Parmer for more details! 910.707.4636

311 Exmoor Drive, Jacksonville, North Carolina has sold in under 65 days!  This gorgeous four bedroom, three bathroom home has been immaculately kept and updated.  

Tons of storage and closet space, a private home site, and updates throughout make this home truly inviting and a lucky home buyer was able to take advantage of the great buyers market Jacksonville is currently in by purchasing this home!  To check out other homes for sale in the area, check out our website!  It's updated daily with all the homes on the market!

View a tour of this home here!  There are more homes for sale in this neighborhood, which is minutes away from Meadowview Elementary School and all the new shopping in Jacksonville, North Carolina.  Shetland Farms offers roomy homesites that are semi-private and allows residents to enjoy the established community that is close to everything Jacksonville has to offer.  

With only three showings, 311 Exmoor Drive, Jacksonville, North Carolina went under contract.  If you're interested in selling your home in the Jacksonville area, please give me a call so we can help!  I'd love to discuss how the real estate market is doing in the area, and how it effects your home's value and selling.  You can also check out this super helpful post about what sellers in the area NEED to know!

Walmart in Richlands, NC! Coming Soon!

For everyone in the western part of Onslow County who have been waiting with bated breath, Walmart in Richlands, NC really is coming soon!  In fact, they've all ready begun the hiring process!  

The Richlands Walmart is planned to have a full market section, as well as normal shopping items, optometry, banking accessibility, and a gas station.  Of course, with the opening of this giant center of commerce in our small, but mighty, town of Richlands, will also bring over 300 jobs!  According to Fortune's recently published article, Walmart is raising their pay scale to above minimum wage and introducing an initiative to help veterans, which will be heartily received in our veteran saturated area!

Many homeowners in the Richlands area will be happy about the increased traffic and commerce that Walmart will bring.  In fact, Walmart employees from other areas have all ready begun looking at real estate in our area.  

Typically, from what I've seen, whenever Walmart moves into an area, so do other stores and shops.  Which can only mean one thing- more growth!  Commercial growth always instigates residential growth.  Many of the 'big builders' have all ready moved their business out of Onslow County completely, and others are shifting their building in different directions.  The continued growth of Richlands, coupled with the slow down of new construction is a strong indicator that residential real estate in Richlands will begin to creep up and stabilize.  


With more jobs coming into the area, and more commerce, the housing market will eventually rebound.  Right now there are tons of great homes on the market in Richlands and interest rates are still relatively low, creating a great opportunity for home buyers who may be thinking of purchasing in the area.  Ever heard the term, "Buy low, sell high?"  This appears to be that opportunity.  Before Walmart is established in Richlands and the market is able to correct itself or skyrocket, buy homes in the Richlands area now.  Sell in the next few years when values are up.

Keep your eyes peeled, when driving down Hwy 24 in Richlands.  You'll see the great big building under construction that can only be a Walmart!  If you have any questions or would like more information, give me a call!  I'd love to chat about the growth and expansion in the Richlands area, and most especially, homes!  

2628 Idlebrook Circle, Jacksonville FOR SALE! Minutes to the gate, schools and shopping!

Did you hear?  2628 Idlebrook Circle is on the market, and it's move in ready!

This home has had lots of updates, and you really need to see it to believe it.  Homeowners in this neighborhood are only minutes to the Piney Green gate of Camp Lejeune and will be minutes from the new Walmart Neighborhood Market that's currently being built on Piney Green!

2628 Idlebrook Circle is a three bedroom, two bathroom home with a fenced yard and a shed.  The roomy living room has vaulted ceilings and flows easily into the dining room and kitchen.  Each bedroom is spacious and the owner's suite features double closets and a personal bathroom!
If you're looking for well maintained, tastefully updated, and move in ready, then 2628 Idlebrook Circle is the house for you.  Priced to sell, this home is more affordable than renting!

For more information on this home, or others like it in the area, please call us!  910.707.4636.  For a list of homes like 2628 Idlebrook Circle or other homes in the area, click here.