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Housing Affordability At Historic High

March 29, 2011 By Leave a Comment
Can I Afford to Buy a Home?

Can I Afford to Buy a Home?

As all of you know, the real estate market has seen some rough times the last several years.  Obviously, in most cases, home prices have fallen during that period.  And a home owner who bought in the last three years that needs to sell now may be “underwater” on his/her mortgage loan.  In other words, they may owe more than the home is now worth.  That could be bad news for a lot of home owners who bought at the peak of the market, however there is hope.  Even during this tough economy, housing has never been more affordable. [Read more...]

Filed Under: Housing Market, Real Estate News, Statistics, Winston-Salem Realtors Tagged With: , , , , , , , , ,

Winston-Salem: One of the Country’s Most Affordable Housing Markets

March 27, 2011 By Leave a Comment

Winston-Salem, North Carolina was recently recognized as one of Demographia.com’s “International Most Affordable Housing Markets”.  The 2011 report was the organization’s 7th annual affordable housing survey.  The survey looked at 325 international real estate markets in Australia, Canada, Hong Kong, Ireland, New Zealand, The United Kingdom, and the United States.

Winston-Salem, NC

Winston-Salem: on the Most Affordable Housing Market List

[Read more...]

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Existing Home Sales Up for January 2011

February 26, 2011 By Leave a Comment

According to the most recent housing report from the National Association of Realtors (NAR), Existing Home Sales rose in January, 2011.  Sales were up 2.4% from December 2010, and up 4.9% from January 2010.  Many economists felt sales would not be as good as they have been, because of the tax credits available for home buyers in January 2010 that are not available for most buyers now (tax credits were extended for deployed military to April 30, 2011).  Total number of home sales was 4.9 million up from 4.69 million last January.  This is good news for the economy and the housing market.  Housing inventory has also dropped.

Housing Inventory drops January 2011

Home sales were up 3.6% in the South, down 1.2% in the Northeast, up 1.8% in the Midwest, and up a whopping 7.9% in the West.  Distressed sales (REO bank owned foreclosures, short sales) were up 1% to 37% of total sales.  The average price of homes sold dropped to $159,000, which is most likely related to the increase in distressed sales.

Mortgage rates continue to hover around 5% for 30 year loans, which is still really low.  Rates had not dropped below 5% until 2009 since the mortgage industry has been tracking rates.  Low rates means buyers can still get more home .  An increase in mortgage rates by 1% on a $200,000 home means an increase in payment by $126 per month or 10%.  So if you are a home buyer, it’s still a awesome time to buy.  If you are searching homes online and want to save yourself time, sign up for our VIP buyer service listing alerts.  Our clients have found it to be a great tool to use in their home search.

If you are selling your home, low rates and an increase in home sales, means the housing market is improving.  The spring market is the best time to list your home for sale, so don’t hesitate to contact us for a highest price analysis.  Our digital marketing marketing strategy gets your home SOLD!

Filed Under: Housing Market, Real Estate News, Statistics, Winston-Salem Listing Agents, Winston-Salem Real Estate Agents, Winston-Salem Realtors Tagged With: , , , , , , , , , , , , , ,

Winston-Salem on Affordable Housing Markets in College Towns List

November 17, 2010 By 2 Comments

College bound students may not be so concerned about how much their housing is going to cost, but obviously their parents are.  And with one in college, and one going next year, trust me, I know!  Many parents of college students are weighing the costs of on-campus dorm fees or rent  versus investing in a property for their son or daughter to live in.  Parents of students at Wake Forest, Winston-Salem State, Salem College, or even Forsyth Tech should consider

A recent survey has shown an increase in parent investors in college towns.   The Top Five Most Affordable Markets in College Towns are below followed by each market’s average list price for 4 bedroom, 2 bath homes.

  1. Ball State University, Muncie, Indiana:  $105,115
  2. University of Buffalo, Buffalo, New York:  $117,223
  3. University of Memphis, Memphis, Tennessee:  $135,090
  4. University of South Carolina, Columbia, South Carolina:  $137,707
  5. University of Akron, Akron, Ohio:  $139,711

Winston Salem’s own Wake Forest University rolled in at #31 with the average home listing price of $185,020.  And with Winston-Salem being the city with the lowest cost of living, it makes a lot of since to go to school here.  After all, you’re paying almost $50k per year for your child to go to school here, so you better look to save somewhere!

Do you know parents who have decided to invest rather than rent or pay dorm fees?  Don’t hesitate to provide your feedback below.

Most Affordable and Most Expensive Housing Markets in College Towns

Filed Under: Housing Market, North Carolina, Real Estate Investing, Real Estate Market Statistics, Statistics, Winston Salem, Winston Salem Real Estate Tagged With: , , , , , , , ,

Forsyth County Home Sales Up for 2010

August 2, 2010 By Leave a Comment

The national housing market continues to be sluggish, however our area has outpaced the state and national numbers. Home sales are up in Forsyth County over 17% from June 2009. 563 homes sold in June, 2009 according to our local real estate board, the Winston Salem Regional Association of Realtors (statistics provided by Triad Multiple Listing System), compared to June 2009′s 478 home sales. Sales also increased over 6% from May, 2010.
Craftsman Bungalow Winston Salem Home House

Read the full article on JournalNow.com
Forsyth County Home Sales Up for 2010

If you are looking to sell your home in Winston Salem and would like to know what it’s worth, please contact us at 336.462.9544 for a current “highest home value analysis.”

Filed Under: Housing Market, Real Estate Market Statistics, Statistics, Winston Salem Tagged With: , , ,

Winston Salem Recognized as City with Lowest Cost of Living

July 13, 2010 By 1 Comment

Are you considering a move? It’s always good to do a little research on the city you are considering. If you are thinking about Winston Salem, NC and you want cheap living, then you’re in the right place!

Winston-Salem was just recognized in the Mercer Worldwide Cost of Living survey for 2010 as the least expensive city in the United States! Just makes me even more thankful to live in the Winston Salem area! Woo hoo for Winston Salem! See the full article below.

Winston Salem, NC - Cheapest City in the United States 2010

4th Street in Winston Salem is a downtown hot spot.

Mercer Worldwide Cost of Living survey 2010 – Winston Salem Cheapest City (United States)

If relocation has you moving to Winston Salem, please consider working with one of our agents. We know the area, and we are ready to help you. Winston Salem Real Estate Agents. You can reach our Winston Salem real estate office at 336.462.9544.

Filed Under: Relocation, Statistics, Winston Salem Tagged With: , , ,

Homeowners Confidence Increasing about the Future of the Real Estate Market

September 14, 2009 By Leave a Comment

A recent survey by Zillow.com shows that home owners are becoming more confident in the real estate market.  Zillow performs a market analysis four times a year to see if home owners are optimistic or not in their home values for the next six months.  The survey results show the South to be the most confident and least affected by the recession.

The recent survey shows:

  • 22% believe their home has increased in value (27% in the South).
  • 19% believe their home has remained the same in value (21% in the South).
  • 60% believe their home has decreased in value (52% in the South).

Across the country, 83% of home values have dropped in the last year according to Zillow’s Second Quarter Real Estate Market Reports.  Home values were down almost 10% from one year ago.

Homeowners’ Future Outlook for the Next 6 Months:

  • 34% believe their home’s value will increase.
  • 47% believe their home’s value will remain the same.
  • 19% believe their home’s value will decrease.

The Winston Salem Piedmont Triad area real estate market has been fortunate not to experience a “bubble” where home values increased beyond actual value, and where home values have not decreased greatly like in major cities in states like Florida, California, Arizona and others.  Many people are still moving to North Carolina and many of them are considering the Triad area due to reports like Business Weeks  Top Places to Begin a New Career.

Winston Salem City Scape

EXIT Realty offers several marketing programs to home owners to help you sell your home fast including a free 24/7 info hot line to attract home buyers.  The hot line will also text a virtual tour to a potential buyer that is interested in more info about your home.   If you’re ready to list your home for sell, give me a call at (336) 287-4423, and I will provide you with a free market analysis and discuss more how EXIT will get your home SOLD.

If you are looking to buy right now, click the following link to use my Free Home Buyers Online Service.  This service will help you streamline your search by adding the specific criteria you are looking for.  I look forward to serving you.

Filed Under: Exit Realty, North Carolina, Real Estate Market Statistics, Relocation, Statistics, Winston Salem Real Estate, Winston-Salem Realtors Tagged With: , , , , , , , ,

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