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Finance | KBT Realty | Cape Fear to Coast Blog

Monday, January 11, 2021   /   by Anne Rose

State of the Real Estate Market/Year-end Review

Kirk Pugh, Broker/Realtor with KBT Realty Group - Keller Williams, in Wilmington North Carolina, reflects on 2020, a year which is in now in hindsight.

Eight days into 2021, and Kirk sees that the new year has started with a bang.

2020 was a challenging year for everybody on many different levels, although in real estate not one, Kirk reflects. Instead of talking about numbers, success, and patting the KBT Realty Group team on the back, suffice it to say, Kirk notes, that Wilmington North Carolina has a fast-paced, rapidly growing, dynamic real estate market that is extremely beneficial for sellers right now.

Certainly we can sell a house for top-dollar, in this market, in Wilmington, today, Kirk says. The challenge is, where does that seller go? Are they trading laterally, are they downsizing either from a location standpoint or a pricing standpoint? 

For sellers today making a decision about selling, is the value of the sale great enough to buy you out of the pa ...

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  wilmington nc, real estate broker, sell your home, finance, homeowners, keller williams

Tuesday, September 15, 2020   /   by Anne Rose

What to Do When Your Home Appraisal Comes in Short

What is a Home Appraisal?

A home appraisal is a judgement on the value of a home, conducted by a state-licensed or certified appraiser. An appraisal is the appraiser's professional opinion of a property’s value. The appraiser bases an appraisal on research into recent sales of comparable homes in the area, and on an assessment of the property and improvements. The final appraisal is based entirely upon the appraiser’s educated judgment. This is the value that is submitted to the buyer's lender before final loan approval for a specific property.

A bank or mortgage lender will require an appraisal to help gauge the risk of making a loan at a specific dollar amount. Because the actual property serves as collateral for a loan if the borrower defaults on the loan, the lender must ensure that the actual loan is not larger than the appraised value of the property.

What Happens When the Appraisal Comes in Short?

If the property appraises in line with the propos ...

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  real estate broker, real estate agent, tips for buyers, finance

Friday, August 14, 2020   /   by Anne Rose

A Quick guide to Homeowners Insurance

contributed by Susan Doktor

Protecting what we love comes naturally to us. But in the case of protecting our homes, there’s a little more to it than intuition. Homeowners insurance is a bit of a puzzle, especially for first-time homebuyers. Let’s take a look at some of the things you need to know when considering coverage and budgeting for your policy.

Do You Need Homeowner’s Insurance?
The short answer is absolutely. For one thing, if you’ve taken out a mortgage to purchase your property, your lending institution will insist on it. That’s because, until you pay off your home loan, they are protecting their own investment. Most of the time, your homeowners insurance premium will be included in your monthly mortgage statement. You’ll pay it right along with your principal, interest, and taxes. That’s how mortgage lenders ensure your policy isn’t allowed to lapse.

But even if you don’t owe a cent on your house, you owe ...

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  tips for buyers, finance, homeowners

Monday, April 20, 2020   /   by Anne Rose

COVID-19 and Revised Appraisal Guidelines for Real Estate Closings


We’ve heard there are changes that home buyers should understand in the appraisal process right now. What are the most recent updates?

Adam: Processes for property appraisals have been changing daily, in light of the COVID-19 social distancing requirements and business restrictions.

Tara: It’s been interesting. Each change does seem like it is for the better. On your conventional loans, Frannie, Freddie, on primary residences, those are desktop versions for now. Which means that the appraiser doesn’t have to go out. They can just do an AVM (automated value) and that is not only beneficial for people who may be living in the home, but for the appraisers health safety as well. The appraiser doesn’t have to leave their home for this scope of work. That has been a really big win in the mortgage process.

On government loans, they are often a little bit more conservative, and FHA now is allow ...

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  house hunting, tips for buyers, finance

Monday, April 6, 2020   /   by Anne Rose

COVID-19 and the Impact on Real Estate Closing Processes

Q & A with Adam Slack and Tara Jones of Guaranteed Rate 

Business as usual doesn’t exist any more, with respect to COVID-19, so what are you doing at Guaranteed Rate to facilitate closings and serve your clients while observing stay-at-home and social distancing restrictions?

Adam: We are really 100% open for business. Even before everything that has happened with COVID-19, our entire office staff was fully setup with home office stations, and secure servers and full size monitors - everything that they have in the office.

This was even before the pandemic happened, so our productivity hasn’t changed at all.

Just like Kirk has said with his COVID-19 updates, for Guaranteed Rate on the financing end, we have the ability to work 100% remotely, so we are not missing a beat on our end. Everything is moving forward smoothly and business is normal.

People are looking for no-contact options in every aspect of their lives right now. Have you done any c ...

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  tips for buyers, finance, veterans

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