Is “REO” and “Foreclosure” the Same Thing?

by seacoast_ashley 26. January 2014 06:42

If you’ve been looking at listings online, you may have come across the abbreviation REO, which stands for Real Estate Owned [by a bank, credit union, etc.]. This is often used in connection with foreclosures. So, you may be wondering if an REO and foreclosure are the same. When searching for homes to buy, the simple answer is “yes”. They sell under basically the same conditions.

Foreclosures are properties (homes or pieces of land) that are currently going through a Coldwell Banker Foreclosure REOlegal process in which the lender has taken over control after the borrower did not make payments. At this stage, the lender tries to sell the home (or land) to recoup their losses. This can be done through an auction or traditional listing in the local MLS. Either way, the foreclosure process reaches its final stage when 1) the home sells and becomes the responsibility of that new owner or 2) the home fails to sell, becomes an REO, and is the lender’s full responsibility. So, basically, an REO is a home in the final stage of foreclosure.

Banks, credit unions, etc. are not in the business of being landlords and having a property on the books can look like mismanagement to shareholders, so they are usually very motivated to sell. That’s why foreclosures are often listed at the lowest price in the neighborhood or in comparison to similar homes.

Conditions of foreclosures vary from good to rundown and existing damages may or may not be repaired by the lender before the home goes on the market. Foreclosures sell “as-is”, so a low price doesn’t guarantee a good deal. They may need some work and aren’t always the best option for buyers who need something move-in ready. Of course, it’s a case-by-case or house-by-house scenario.

If you’d like to know more about foreclosures and REOs, ask your Sea Coast agent. If you don’t have an agent, find one now.

Featured Home of The Week!

by seacoast_ashley 21. November 2013 05:20

6901 Runningbrook, Wilmington, NC 28411

Homes For Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

This executive craftsman style home in Demarest Landing overlooks beautiful Howe Creek. Demarest Landing is unique with winding paths, abundance of trees and lush landscape, neighborhood pier, dock and boat house, club house, pool and tennis courts. From the rich hardwoods and custom mantel and window seats, it's the perfect home for entertaining and family memories. The gourmet kitchen includes a Wolf gas cooktop, custom cabinets, tiled back splash, refrigerated drawers and large granite island with prep sink. The great room (kitchen, breakfast and family room) has views of Howe Creek as does the living room and all bedrooms. The main floor Master has his and her vanities and closets. Upstairs you will find 3 bedrooms and two baths with extra room for play or reading. The ground floor has a sitting/bonus room and study/5th bedroom with full bath. Expansive deck along rear of home offers great sunsets over the water. A stone retaining wall and dock complete your private enclave.

Homes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

Homes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

Homes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

People are back to buying houses right now and supply is low. If you see a home that you love, make sure you give one of our SeaCoasters a call right away, before it’s gone! It’s a seller’s market and we need houses… list with us! We can get it sold for you - Coldwell Banker Sea Coast Advantage is Southeastern North Carolina’s real estate leader for a reason.

Follow us on TwitterFacebook and Google+, we’ll keep you updated on Homes for Sale in Wilmington, North Carolina!

Featured Home of The Week!

by seacoast_ashley 13. November 2013 08:11

2215 Villamar Dr, Leland, NC 28451

Homes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

Upscale, LUXURY award-winning Captiva is perfect for living the Brunswick Forest lifestyle! Telescopic doors open to the expansive screened lanai with 3 season windows & summer kitchen. Also, an inviting patio, private backyard & tropical landscaping! Hardwood flooring anchors the open living area with gas fireplace surrounded by built-ins. Chef's kitchen has upgraded cherry cabinetry, granite, stainless appliances & roomy pantry. Formal dining, guest bath & den complete this area. Master Suite features French door to lanai & lavish bath has a jetted tub, dual vanities, walk-in tiled shower & large walk-in closets. Two additional bedrooms each have their own bath. Oversized garage has work bench, finished floor & sink. Climate controlled storage can also be used for office/den. Plantation shutters, keyless entry, attic and surround sound complete this amazing home. HOA dues include full lawn maintenance! Wellness Center, pools, parks, kayak/boat launch, 18-hole GOLF course & more!

Homes For Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

Homes For Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

Homes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

People are back to buying houses right now and supply is low. If you see a home that you love, make sure you give one of our SeaCoasters a call right away, before it’s gone! It’s a seller’s market and we need houses… list with us! We can get it sold for you - Coldwell Banker Sea Coast Advantage is Southeastern North Carolina’s real estate leader for a reason.

Follow us on TwitterFacebook and Google+, we’ll keep you updated on Homes for Sale in Wilmington, North Carolina!

Featured Home of The Week!

by seacoast_ashley 1. November 2013 03:17

307 Shoreline Dr, Sunset Beach, NC 28468

Homes for Sale, Real Estate, Coldwell Banker Sea Coast Advantage

Need we say more about this magnificent home with unparalleled views of Sunset Beach from 3 levels of living space? Built without compromise, this home reflects the very best. The home is designed with entertaining in mind. The expansive gourmet kitchen features top of the line appliances, wine cooler, ice maker, granite counters and 12' x 4' island with cooktop. Family memories will be captured when you entertain with a beautiful dinner in the intimate dining room. The top floor features an elegant master suite and master bath with the same fantastic views. Guests will love their choice of bedrooms, each offering the elegance to allow a welcomed visit. After an exhausting day of work or play, relax with a glass of sweet tea in the Carolina Room or on the huge deck and watch the boats navigate along the waterway. An added bonus is the pier with a boat lift and floating dock. There is also an elevator to all floors. You must see this home to appreciate all the custom features.

Homes for Sale, Real Estate, Coldwell Banker Sea Coast Advantage

Homes for Sale, Real Estate, Coldwell Banker Sea Coast Advantage

People are back to buying houses right now and supply is low. If you see a home that you love, make sure you give one of our SeaCoasters a call right away, before it’s gone! It’s a seller’s market and we need houses… list with us! We can get it sold for you - Coldwell Banker Sea Coast Advantage is Southeastern North Carolina’s real estate leader for a reason.

Follow us on TwitterFacebook and Google+, we’ll keep you updated on Homes for Sale in Wilmington, North Carolina!

Featured Home of The Week!

by seacoast_ashley 23. October 2013 09:58

2625 Seashore Rd, Supply, NC 28462

Homes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

What a rare find! This property consists of a parcel of land totaling +/- 7.23 acres that runs from the gated entrance on Seashore Road to the Intracoastal Waterway. Parcel includes a 4700+ sq ft, 3 story southern plantation home complete with pier, floating dock, and boat lift. The 2nd lot also has a pier. This home boasts spacious porches on the first 2 floors, a pool complete with brick patio and outdoor kitchen, and large Live Oaks that offer just the right buffering from the ICW. Inside you will find 4 bedrooms each with their own private bath. The first floor consists of a gourmet kitchen, formal dining room, den, living room, laundry, and a spacious master suite. The second floor offers yet another master suite complete with its own screened porch and office overlooking the ICW, as well as a 3rd and 4th bedroom and a bonus room with separate staircase. Third floor offers a 2nd bonus room complete with wet bar and private bath.

Homes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

Homes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

Homes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

People are back to buying houses right now and supply is low. If you see a home that you love, make sure you give one of our SeaCoasters a call right away, before it’s gone! It’s a seller’s market and we need houses… list with us! We can get it sold for you - Coldwell Banker Sea Coast Advantage is Southeastern North Carolina’s real estate leader for a reason.

Follow us on TwitterFacebook and Google+, we’ll keep you updated on Homes for Sale in Wilmington, North Carolina!

Featured Home of The Week!

by seacoast_ashley 9. October 2013 09:55

1140 Rivage Promenade, Wilmington, NC 28412

Homes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

Well maintained home, on a cul-de-sac lot, in the Golf Course Community of Beau Rivage in Wilmington, North Carolina! This 3 bedroom, 3 bath home also has a bonus room that could be 4th bedroom or home office. Home features ceramic tile throughout your living, dining and kitchen area, carpet in bedrooms, fireplace with gas logs, large master (bedroom, bathroom and closet), smooth vaulted ceilings, crown molding, granite countertops, recessed lighting, built in shelving in your living area, full irrigation system with well, screened in back porch, LARGE privacy fenced in backyard, 2 car garage, and a One Year Home Warranty for your added comfort. Home also includes the Flat Screen TV in the living area above the fireplace. Great location as you are only minutes to the beaches, shopping and Downtown Wilmington.

Homes for Sale,  Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

Homes for Sale,  Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

People are back to buying houses right now and supply is low. If you see a home that you love, make sure you give one of our SeaCoasters a call right away, before it’s gone! It’s a seller’s market and we need houses… list with us! We can get it sold for you - Coldwell Banker Sea Coast Advantage is Southeastern North Carolina’s real estate leader for a reason.

Follow us on TwitterFacebook and Google+, we’ll keep you updated on Homes for Sale in Wilmington, North Carolina!

Howell Earns Strategic Pricing Specialist (SPS®) Designation

by seacoast_ashley 9. October 2013 03:29

 

RAH mug

FOR IMMEDIATE RELEASE

Raleigh, NC –Robert Howell of Coldwell Banker Sea Coast Advantage, Wilmington office has been awarded the Strategic Pricing Specialist (SPS®) DesignationThis honor is only awarded to real estate professionals that participate in the advanced training program and commit to providing exceptional service to their clients. Howell has done just that.

Created by JAMM Coaching and Training, theStrategic Pricing Specialist (SPS®) Designation is revolutionizing the real estate industry. SPS® was designed to help real estate professionals minimize overpriced listings and better assist sellers when preparing to list their home for sale. This course is the first of its kind and is currently offered exclusively in the Triangle market.

According to Jo Mangum, creator of the program and Founder of JAMM Coaching and Training, Howell has joined a select group of sales associates that have committed to providing excellent service to their clients by giving them sound advice when considering selling their home. “An overpriced listing will be on the market longer, which translates into less money in the seller’s pocket. Listing homes that are incorrectly priced is no longer an option for today’s real estate professionals”. To better assist today’s real estate professionals, Mangum created this unique program. “SPS® designees approach pricing as a strategy and have the skills needed to navigate that strategy. They know how to help sellers understand how agents work, apply market trends and value the process of “how buyers buy” to ensure that they get the maximum return on their investment”.

Founded in 2010, JAMM Coaching and Training’s mission is to provide the best coaching and training programs to professionals working in the sales industry. Clients can participate in one-on-one professional coaching and company-wide training sessions that have been created by Jo Mangum, author of “Pushy” and originator of the “Strategic Pricing Specialist (SPS®)” designation. JAMM is a privately held company and is headquartered in Raleigh, North Carolina.

Featured Home of the Week!

by seacoast_ashley 27. September 2013 04:30

3677 Fairfield Way, Southport, NC 28461

Homes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

Simply gorgeous home, in Southport, North Carolina, situated on a very private, secluded, and beautifully landscaped home site. Impeccably designed and custom built with every attention to detail, this home has it all. At 5513 sq. feet and $143/sq. ft, absolutely the best value in St. James! Meticulously maintained and priced to sell FAST! Luxurious main level Master Suite with sitting room, separate walk-in closets, and spa-like Master bath. Master Suite opens to screened gazebo with large hot tub. Fully equipped home gym. Great-for-entertaining floor plan with flowing great room, wet bar, and formal living and dining rooms. Multi-room audio system with interior and exterior speakers. Gourmet kitchen features granite, dual ovens, two dishwashers, full size wine fridge, and custom cabinetry. Entertain year round on the expansive deck with built-in summer kitchen. Home theater with rear projection TV, auto screen, and mini kitchen. Bright, spacious office/library with two built-in work stations.

 

Homes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast AdvantageHomes for Sale, Real Estate, Wilmington North Carolina, Coldwell Banker Sea Coast Advantage

People are back to buying houses right now and supply is low. If you see a home that you love, make sure you give one of our SeaCoasters a call right away, before it’s gone! It’s a seller’s market and we need houses… list with us! We can get it sold for you - Coldwell Banker Sea Coast Advantage is Southeastern North Carolina’s real estate leader for a reason.

Follow us on TwitterFacebook and Google+, we’ll keep you updated on Homes for Sale in Wilmington, North Carolina!

3 Reasons to Visit Wrightsville Beach, North Carolina

by seacoast_ashley 24. September 2013 02:40

Beautiful Wrightsville Beach is located just east of Wilmington, North Carolina, in New Hanover County. Thousands flock here each summer for it’s gorgeous beaches and laid back lifestyle, and many end up relocating here because they’ve fallen in love with the area. Here are three more reasons to visit Wrightsville Beach:

 1. Watersports: 

  • Parasailing - spend 15 minutes above the ocean on a parasail! Open Friday, Saturdays & Sundays, as well as the week of July 4th.
  • Kayaking – see Wrightsville Beach by kayak and enjoy the wonders of all it’s wildlife.
  • Surf School – learn how to surf at this family owned surf school! Great fun for the whole family.

2. Restaurants:

  • South Beach Grill - enjoy delicious cuisine at this popular, locally owned, restaurant. From fresh seafood to pork and chicken, there’s something for everyone here.
  • Causeway Cafe – if you’re looking for breakfast, look no further than his ‘hot spot’, but don’t forget to bring your cash because it’s CASH ONLY
  • Oceanic Oceanfront Dining – Wrightsville Beach’s ONLY truly oceanfront restaurant offers fantastic seafood selections with a a priceless view.

3. Shopping: 

  • Sweetwater Surf Shop - Locally owned and nationally recognized surf shop for all your surfing and beachwear needs. Purchase surfboards, wetsuits & much more.
  • The Fisherman’s Wife - Three stores in one, offering fine china, table accessories, personalized stationery and invitations, creative gifts & more!
  • Robert’s Grocery - Visit Wrightsville Beach’s oldest store! It remains the islands only grocery and is well known for its steaks and homemade salads, particularly Robert’s Famous Chicken Salad – a local tradition.

Be sure to follow us on TwitterFacebook and Google+! We can answer any questions you have about our area or about relocating here. We’d love to help you find a gorgeous Wrightsville Beach home!

Come Inside with a Google Indoor Street View Tour!

by seacoast_ashley 13. August 2013 04:36

Did you know that you can go INSIDE a business with Indoor Street View tours, made possible by Google Street View technology? Well, you can! We’re proud to say that Coldwell Banker Sea Coast Advantage is one of the first Google Indoor locations in North Carolina – check it out!

Coldwell Banker Sea Coast Advantage, real estate, wilmington north carolina, google indoors

Here at Coldwell Banker Sea Coast Advantage in Wilmington, North Carolina, we work hard to stay ahead of the technological curve, and our IT department is busy doing just that! Stay tuned, as there are many more advances coming our way.

Be sure to follow us on TwitterFacebook and Google+!

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