Selling a home is a significant endeavor, especially for military families facing a Permanent Change of Station (PCS) in Eastern North Carolina. This region, encompassing Onslow, Carteret, Pender, and Craven Counties, is home to major military installations such as Camp Lejeune, Marine Corps Air Station (MCAS) New River, and MCAS Cherry Point.
Understanding the local real estate market and the unique challenges of military relocations is crucial for a successful home sale. This comprehensive guide provides military homeowners with the essential steps and considerations to navigate the selling process effectively.
1. Understanding the Local Real Estate Market
Eastern North Carolina’s real estate market is heavily influenced by the military presence, which significantly impacts property values and demand. Onslow County, home to Camp Lejeune and MCAS New River, has seen a steady increase in median sales price, which recently hit $293,000 —a 6.6% increase from the previous year. Craven County, where MCAS Cherry Point is located, has a median home sales price around $300,000.
Understanding these trends helps in setting realistic expectations and pricing your home competitively.
2. Preparing Your Home for Sale
Preparing your home for sale is key, especially in a competitive market:
Conduct a Thorough Home Inspection: A pre-listing inspection can identify and address potential issues that could deter buyers. Learn more about home inspections.
Make Necessary Repairs and Upgrades: Focus on essential repairs and upgrades that can improve buyer appeal and increase your home’s market value.
Enhance Curb Appeal: A bit of landscaping, painting, and exterior touch-ups go a long way in making a great first impression.
3. Pricing Your Home Competitively
Pricing your home effectively is crucial to attracting the right buyers:
Analyze Comparable Sales: Check recent sales of similar homes in your area for a realistic pricing range. You can search for comps on sites like Zillow and Realtor or reach out to a military-friendly real estate agent.
Consider Market Conditions and Timing: Real estate markets fluctuate, so consider listing during peak PCS seasons to target other military families on the move.
Consult with a Local Real Estate Agent: An agent with experience in the Eastern North Carolina market, especially with military relocations, can provide insights that could make all the difference.
4. Marketing Your Property Effectively
Get your home in front of as many potential buyers as possible:
Professional Photography and Virtual Tours: High-quality photos and virtual tours are invaluable for attracting online buyers.
List on Multiple Platforms: Make sure your home is visible on popular real estate sites and local military housing networks, like Military By Owner.
Highlight Proximity to Military Bases: If your home is close to bases like Camp Lejeune or MCAS Cherry Point, emphasize that in your listing to appeal to military buyers.
5. Navigating the Military PCS Process
PCS moves require coordination and timing:
Understanding PCS Orders: Familiarize yourself with the timelines and requirements associated with PCS orders to plan your home sale accordingly. The Defense Travel Management Office is a useful resource as is Military OneSource Plan My Move portal.
Timing Your Home Sale with PCS Schedules: PCS seasons peak in the summer months, so timing your listing to align with this season could increase buyer interest.
6. Working with Military-Friendly Real Estate Agents
Benefits of Agents with PCS Experience: Look for agents who have personal experience with PCS moves. They understand the unique logistical and timing challenges military families face.
Importance of Local Expertise: An agent who knows the ins and outs of the local area—including resources available at Camp Lejeune, MCAS New River, and MCAS Cherry Point—can provide insights that make the process smoother for you.
7. Managing Financial Considerations
It’s critical to understand financial aspects that affect military sellers:
Capital Gains Taxes and Military Exemptions: Certain tax benefits are available to military families who’ve owned and occupied a home for at least two of the last 15 years. The IRS offers specific information for military members.
Budgeting for Moving Expenses: Military members can access reimbursements for some relocation expenses through Military OneSource, which provides resources for budgeting and moving expenses.
8. Legal and Contractual Obligations
Legal obligations can vary for military sellers:
Property Condition Disclosures: It’s essential to disclose known issues to buyers. North Carolina sellers can find more details on disclosures at the North Carolina Real Estate Commission.
Understanding Contract Contingencies: Talk to your agent about contingencies like inspection and financing that may come up during the process.
9. Coordinating with Base Housing Offices
Get in touch with your base’s housing office for guidance and support:
Informing Base Housing of Your Intent to Sell: Housing offices can offer relocation support and may even connect you with other military families looking to buy.
Accessing Military Resources: The housing offices at Camp Lejeune and MCAS Cherry Point provide valuable resources and advice for sellers.
10. Utilizing Military Support Programs
Several programs are in place to help military families manage financial impacts from a PCS:
Resources: Programs like Military OneSource provide access to relocation support, counseling, and more.
11. Planning Your Move Strategically
Preparation is key to a successful move:
Creating a Moving Timeline: Set a timeline that aligns your move and sale to minimize stress. Military OneSource provides tools to help you plan your PCS move.
Coordinating with Military Transportation: Schedule early with the military transportation office to avoid delays. Move.mil provides guidelines and resources for military moves.
Conclusion
Selling a home in Eastern North Carolina as a military homeowner involves careful planning and consideration of various factors unique to military life. By understanding the local real estate market, preparing your home effectively, and leveraging available resources, you can navigate the selling process successfully. Remember to seek professional guidance from agents familiar with military moves, and utilize the many support systems available for military families facing transitions.
