15 Things To Do This Fall

15 Things to do this fall

Fall is here! Which means time for all those autumnal activities you’ve been craving all year. Here’s a quick reminder of just a few things to do this fall:

1.  VISIT A PUMPKIN PATCH

2. THEN CARVE (COASTAL) PUMPKINS

coastal pumpkins

3. AND BAKED APPLES (AND ROAST PUMPKIN SEEDS!)

4. ENJOY THE FALL FOLIAGE ON A HIKE

5. VOLUNTEER AT A LOCAL FOOD BANK

6. TAKE THE FAMILY FOR A HAY RIDE

7. THEN FOLLOW IT UP WITH A FIRE & SMORES

8. EXPLORE LOCAL FALL FESTIVALS

9. FIND YOUR WAY THROUGH A CORN MAZE

10. HAUNTED ATTRACTIONS

Haunted-House-Sign

11. TRY NEW SEASONAL BREWS AT BEERFEST

beerfest 2

12. TAKE THE KIDS TO THE FAIR

Ferris-Wheel-Carnival-Lights-at-night

13. GO TRICK OR TREATING!

14. RAKE THE LEAVES… THEN JUMP IN THEM!

15. WATCH A LOCAL FOOTBALL TEAM


August 2014 Top Producers

top producers

Intracoastal Realty Announces Top Agents and Producers Club

Intracoastal Realty recently announced their top performers for the month of August. Keith Beatty won Closed Volume Team of the Month with $10.1M in sales and Bob Fannon won Closed Volume Agent of the Month with $2.6M in sales. Vance Young won Listing Team of the Month with $10.2M in new listings and Lisa Wayne won Listing Agent of the Month with $4.1M in new listings. Keith Beatty won Under Contract Volume Team of the Month with $9.6M in contracts and Robbie Robinson won Under Contract Volume Agent of the Month with $2.6M in contracts.

Wilmington – Lumina Station Office: Top selling and under contract team was Keith Beatty. Top listing team was Carla Lewis. Top selling agent was Joe Fox. Top listing agent was Lisa Wayne. Top under contract agent was Robbie Robinson.

Wrightsville Beach Office: Top selling, under contract, and listing team Vance Young. Top listing agent was Bob Fannon. Top under contract agent was Mark Bodford. Top selling agent was Eva Elmore.

Carolina Beach Office: Top selling agent was Joyce Barnwell. Top under contract agent was Jeff Terry. Top listing agent was Alicia Devereaux.

Oak Island Office: Top selling agent was Renee Yost. Top under contract agent was Ruby Verricchia.

Ocean Isle Beach Office: Top selling and listing agent was Edwina St. Pierre. Top under contract agent was Johnny Gaddy.

New Homes & General Brokerage: Top selling and under contract team was Jimmy Hopkins. Top selling, under contract, and listing agent was Nicole Valentine.

Joining the Multi-Million Dollar Club with at least $3M in closed volume through Augsut 2014 is: Paula Ferebee, Robi Bennett, Diana Holdridge, and Karen Berry.


HELP! My Home is Melting!

A new problem is cropping up across the country in new construction vinyl sided homes and no one wants to take responsibility for the problem!

According to the National Association of Home Builders, more than 90 percent of all new window installations in the US are energy-efficient windows. While these windows are good for energy efficiency, they are frequently a lower end product of the major window manufacturers and made in foreign countries. Therefore, they can become problematic for homeowners when sunlight bounces off the windows and is so intense it can melt siding on houses and parts of vehicles.

Low “e” windows are generally mandated in building codes for new construction; it is coated with a thin layer of metal or metallic oxide and the metallic layer blocks the passage of heat inducing ultraviolet light into the home, reflecting that light outward.

The coating used on the windows to reflect the sun, combined with a concave effect in some windows, intensifies the beam up to 200 degrees, particularly in late fall, winter, and early spring.

North Carolina’s Building Code Council says there is no easy fix, for it is a collision of technology, acknowledging there is a problem. However, siding manufacturers are now frequently changing their warranties to exclude damage from external heat sources. Therefore, homeowners who complain may have a hard time finding on whom to place the blame!

However, the builders, window manufacturers, homeowners’ insurers, or car insurers (if car is melting) do not want to shoulder the responsibility. Therefore, homeowners, frequently, young with limited resources are run around in circles with little help.

Some solutions seem to be: screens, awnings, planting shrubbery, replacing siding with another kind of siding or replacing the glass with non-low e glass, which would make the home no longer meet code.

In extreme cases, local insurance agents say a homeowner may look to his neighbors’ liability insurance to repair damage to his home.

Should you or someone you know be faced with a “melting house”, know he/she is not alone and there are solutions!

Rainelle Mishoe
Broker/REALTOR
Intracoastal Realty
rmishoe@intracoastalrealty.com
Direct: 910-617-5261


Due Diligence Process Builds Confidence, Avoids Surprises

A recent innovation in the residential real estate business, “due diligence” is an important process that both buyers and sellers need to understand. Its purpose is to help both parties to a sale feel confident they know anything and everything they need to about the property before closing the deal.

It’s a well-established concept in the commercial real estate market that’s moved into Wilmington’s residential real estate segment in just the last couple of years. Due diligence is sometimes confused with earnest money, and it’s important to understand the difference.

The time between the initial agreement between buyer and seller, and when the buyer’s earnest money becomes non-refundable, is called the due diligence period. During that time, the buyers do all the investigating they need to do about the house’s condition: Conduct a home inspection, get a termite inspection, have the property surveyed, test the water supply. If any repairs will be needed, getting bids from contractors is an important part of the process. Because this is also the time that the final loan approval process takes place, the due diligence period is usually 30 to 45 days.

During that time, the seller agrees to take the house off the market, in exchange for a small fee. That’s usually just a hundred, up to a few hundred dollars, and rarely, if ever, more than $1,000. Sometimes, because we’re still in a buyer’s market, a buyer may pay no fee at all! That’s likely to change, though, as demand for real estate is on the rise. Expect the due-diligence fee to rise, along with prices, in a seller’s market.

Keep in mind that the fee, and the length of the due-diligence period, is negotiable. The fee guarantees the buyer that the seller won’t be taking any competing offers while the inspections and other tasks are being done. That doesn’t mean the seller can’t talk to other prospective buyers, or even negotiate a back-up offer during that time. The seller is at the buyer’s mercy during that period, so if for any reason the original agreement falls through, it can save time if a back-up buyer is interested.

In that event, the fee wouldn’t be refundable to the original buyer.

But when all goes well, no major problems crop up, and the sale is closed, the due-diligence fee will be applied to the purchase price.

This is where it’s important to understand the difference between due diligence and earnest money. Earnest money is a much more substantial sum, usually in the thousands of dollars. Unlike the due-diligence fee, which puts the transaction on hold while important information is gathered, earnest money is more about a sincere intention to buy. If the deal is canceled during the due-diligence period, the earnest money will be returned to the buyer.

But a cancellation after due diligence is completed means the buyer’s earnest money is definitely at risk.

That gets me to the main things both buyer and seller should be certain of when negotiating the due diligence period.

The buyer should make sure it allows enough time to make an informed decision. If for any reason the necessary inspections can’t get done in time, it’s a very good idea to negotiate an extension. It’s always better to learn about a problem with the house before closing than after.
If you’re the seller, make sure you have enough time after due diligence ends before closing. The idea is to give yourself time to arrange the move to your new home.

Have a question about buying, selling or any other real estate matter? Let me know and I’ll address it in a future article.

Michelle Clark
Broker/REALTOR
Intracoastal Realty
mclark@intracoastalrealty.com
Direct: 910-367-9767
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