Insightful Discussions: Residential Real Estate

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RESIDENTIAL REAL ESTATE Our region's residential real estate market remains hot, and real estate professionals provide perspective on buying, selling, building, remodeling and other timely real estate topics.

CATHERINE BALDING Co-owner, Balding Brothers

SHERRI INGLE Broker/Realtor®, The Rising Tide Team, Intracoastal Realty

CAMERON MOORE Executive Officer, Wilmington-Cape Fear Home Builders Association

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ful DISCUSSIONS Sponsors’ Content Distributed By Greater Wilmington Business Journal

THE RISE OF “FLEX-SPACE” IN THE HOME

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n interesting phenomenon right now is that we are all learning to be more flexible – even the super organized, early planners amongst us are accepting and welcoming change when necessary. As our lives change and evolve to meet these new and sometimes urgent demands, we can’t help but ask our homes to do the same. Because we have all been spending a considerable amount of time in our homes over the past several months, creating a flexible-use space, or flex-space, might be something you have been considering. The addition of flex-space will not only add value to your daily life but to your home as well.

Popular ways people are using flex space right now are: · Home Office · Home Schooling Area · Yoga / Gym Room · Hobby Room · Guest Suite If you already have a dedicated space that can truly be separated from the other main living areas, then your home already has a great flex-room. Be sure to consider the effect of sounds or noise levels when deciding upon your flex-space. Your flex-space won’t truly be working for you unless you can take a Zoom call uninterrupted or go for an early morning Peloton ride without waking anyone else up in the house.

So, when you are considering which area of your home to convert into a flex space, take a moment to visualize the details of how you will be using the space.

Another popular option right now is finishing the unfinished “bonus

room” or FROG (Finished Room Over Garage). They are generally large and spacious and work well at being flexible and separated from the main areas. By design, FROGs and bonus rooms are already separated from the main living areas, making them the perfect destination for flex-space.

Creating a plan to personalize one of these spaces is an easy way to use the space in your home more efficiently all while giving you the much-needed custom space you deserve.

If every space in your home is accounted for, some popular alternative locations for larger flex spaces are building a detached garage or guest house. These separate buildings are substantial projects but alluring nonetheless because of their custom nature. It is important to consider if and how this investment would make sense for you and your property. For instance, if you’ve accumulated additional outdoor equipment, a recreational vehicle, or a new boat it might be time to add the detached garage that you’ve been dreaming about.

The pandemic has intensified our need to be adaptable and created a real advantage to having a flexible living space. At Balding Brothers, we love learning more about our clients, their homes, and their lives so that we can rise to the challenge of creating beautiful spaces that truly work for them.

If you’re ready to create a customized plan for your new space, call the team at Balding Brothers today at 910-251-2721 to start the process.

CATHERINE BALDING Co-owner, Balding Brothers Catherine and her husband, Nick, are the co-owners of Balding Brothers. Catherine loves creating fresh, new spaces and assisting clients with the design process.

Balding Brothers is an awardwinning, design-build residential remodeling company specializing in larger projects and whole-house remodels. Balding Brothers is proud of its talented team and offers its clients a boutique, personalized service. Catherine received an undergraduate degree from Loyola University in Baltimore, MD, and an MBA from UNCW. When not working, Catherine loves spending time outside with family and friends.

Catherine and Nick are proud parents to two sweet and fun-loving young children, Nora and Aidan.

www.BaldingBrothers.com

910.251.2721 · baldingbrothers.com

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ful DISCUSSIONS Sponsors’ Content Distributed By Greater Wilmington Business Journal

The Rising Tide Team’s core values consist of choosing humility, building relationships, being people of integrity, willing to learn and grow, and adding value by being resourceful and communicating effectively. We choose to focus on what is right to help our clients reach their individual goals. therisingtideteam.com Office: 910.256.4503 1900 Eastwood Rd, Ste 38 Wilmington, NC 28403

HOW TO NAVIGATE BUYING AND SELLING IN A BOOMING MARKET The Cape Fear Region is experiencing a bustling real estate market. Whether buying or selling, these tips from the experienced local professionals at The Rising Tide Team will help you along the way.

closing for a week or so. . For the hottest properties, only ask for a home warranty if the home inspection reveals an issue. . Ask your agent to gather a list of “comps” to allow your offer to be at market value, or slightly higher.

BUYERS

. Even though it’s generally a seller’s market, overpricing your home will not equal a sale – especially not a quick one. . Prepare your home for the market by making needed repairs, cleaning, and decluttering; and a professionally staged home can drive the strongest offers. . If your home is priced well at under $500,000, in a desirable location, and in good repair, be prepared for multiple offers. . Obtaining your own home inspection will save you from surprises during due diligence. . Current market conditions present a great opportunity to sell, but be sure to

. Competition is strong, so be ready to make a strong offer. . Obtain proof of funds or a pre-approval letter early – you may need it just to view a property. . When making an offer, generous Due Diligence money usually speaks louder than earnest money. . Plan for about 21 days of due diligence for a loan purchase or 10-14 days for cash – and use that time wisely to survey and perform inspections. . A 30-day closing is usually best, but, if the seller can’t move in time, consider allowing them to keep possession after

SELLERS

SHERRI INGLE Broker/Realtor® The Rising Tide Team, Intracoastal Realty

ask yourself, “Where will I be moving?”

Have a plan in place to relocate within a month of accepting an offer to ensure the transition goes smoothly.

If you need to sell your home to be in the best financial position to purchase a new one, today’s market will present you with some unique considerations. As a seller, you should consider the tips above to get the best offers. But as a buyer, you may have to wait to receive the funds from selling to be most competitive for your next home, especially if it’s a multiple offer situation. Consider finding a home that needs some work done. Usually, these homes do not receive multiple offers. Once your fixer-upper is under contract, sell yours, and make your new one fabulous.

Buying or selling a home in a highly sought-after area like the Cape Fear Region presents an exciting opportunity!

Seize that opportunity by choosing an experienced, local real estate teammate from the Rising Tide Team to help you get the results you deserve.

In July of 2008, I began my real estate career. As the Great Recession began, I had the privilege (only from hindsight) to grow and learn how to navigate the ever-changing waters of our local market.

At heart, I am a teacher and attempt to educate my clients on current market conditions, enabling them to make the best decision for their family. The difficult early years have provided me with the experience and vast understanding of the local market to play an important role on The Rising Tide Team.

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ful DISCUSSIONS Sponsors’ Content Distributed By Greater Wilmington Business Journal

WILMINGTON- CAPE FEAR HOME BUILDERS ASSOCIATION

THE VALUE OF MEMBERSHIP Who are we?

Established in 1965, the Wilmington-Cape Fear Home Builders Association (WCFHBA) is a not-for-profit trade association affiliated with the North Carolina Home Builders Association and the National Association of Home Builders. As the second-largest HBA in North Carolina, the WCFHBA represents more than 1200+ members throughout the Cape Fear region. As a member of this association, you are viewed as our extended family. A family of suppliers, finance, tradesmen, builders, real estate professionals, and many others who work together to keep our region strong. Nearly every home built in the Wilmington region is built or touched in some manner by a member of this association.

Beyond networking, what other types of benefits do I receive by being a member?

As a member, your benefits are vast and tangible. They range from business-building resources to money-saving discounts to an effective grassroots network that helps shape the views of our elected officials and lawmakers.

Our 3-in-1 membership provides every member a strong foundation to be noticed, connected, and heard across many different spectrums. We position ourselves to be included in the decision-making process on legislation, regulation, and other issues that affect your bottom line.

Whether it be related to a natural disaster, pandemic, or daily operations, the HBA stays in constant contact with the regulatory agencies, policymakers, elected officials, and State & National HBA leadership to keep you up-to-date.

Members have access to our exclusive rebate programs and can save hundreds to thousands of dollars on anything from services, to truck rebates to discounts on affordable workers compensation insurance through our partner Builders Mutual.

How does my company get in front of consumers and other members?

We host over fifteen different events throughout the year with our largest event being our Annual Parade of Homes™. The Parade showcases the craftsmanship, diversity, and quality of the region’s premier homes. Consumers have the opportunity to explore homes; get to know builders, view home descriptions; view photos and floor plans; take 3D virtual tours, and see the latest in construction, designs, and furnishings.

We work to provide connections for our members and each year we publish the Cape Fear Buyers Guide.

This guide displays our members and their primary business category to our entire membership and over 18,000 copies are distributed in the Cape Fear Region.

How does being a member further my education and the future of the Home Builders Association?

As our industry has grown and evolved, it is no secret that education and professional development are key components to our members’ success. Staying abreast of the latest code changes, supplier changes, and technological advancements in construction is paramount. The Association serves as a key Education Provider and can deliver all the required courses needed to fulfill the 8 hours of Continuing Education that General Contractors are now required to take.

The future of our industry is rooted in cultivating new leadership through our workforce development initiatives. The HBA sees the direct link of investing in our future and to date has awarded well over $40,000 in Scholarship Funding to deserving students/ applicants that have enrolled in the construction/vocational programs in the Wilmington Region.

CAMERON MOORE Executive Officer, Wilmington-Cape Fear Home Builders Association Mr. Moore serves as the Executive Officer for the Wilmington-Cape Fear Home Builders Association. Prior to this, Mr. Moore served as a Governmental Affairs Directors for (BASE) Business Alliance for Sound Economy for seven years, where he extensively worked on policy and legislative matters related to the building and real estate industry locally as well as regionally. Mr. Moore has over 20 years of public and private planning experience working as the Planning Director for the Town of Leland, in Brunswick County and then serving as a senior project manager with a multi-disciplinary residential and commercial development company in North Carolina. Mr. Moore is a member of the North Carolina Chapter of the American Planning Association, the American Planning Association, and is a certified planner through the American Institute of Certified Planners.

910.799.2611 · wcfhba.com