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Home Sales and Prices Expected to Increase in 2012 According to NAR

November 17, 2011 By Leave a Comment

Modest Volume, Price Gains Projected in Housing Market Next Year By National Association of Realtors Chief Economist

The housing recovery will continue on its slow but steady pace over the next couple of years, NAR Chief Economist Lawrence Yun said recently at the REALTORS® Conference & Expo Economic Issues & Residential Real Estate Business Trends forum.
November 2011 | By Robert Freedman, NAR

 

NAR Chief Economist Lawrence Yun predicted home sales would increase by 4 percent next year and home prices would inch up 2 percent during the Economic Issues & Residential Real Estate Business Trends forum Friday morning. In 2013, [Read more...]

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Forsyth County Existing Home Sales Up Over 34% from Last Year

August 30, 2011 By Leave a Comment

The Winston-Salem area real estate market is “moving on up”.  George Jefferson would be pleased to see Forsyth County’s existing home sales up 34.4% in July compared to sales last July.  469 homes sold last month versus 349 a year ago, according to the local Triad Multiple Listing Service.  Now, that’s the way to “get the lead out Weezie!” as George would say.   [Read more...]

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Economic Growth Forecast Improves For 2011

March 30, 2011 By Leave a Comment

The economy is growing faster than expected. Consumer confidence, and a better job outlook is looking good for home sales.

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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 Area Home Sales Dropped in 2010

February 17, 2011 By Leave a Comment

The Winston-Salem area housing market has been in decline the last few years much like the rest of the country.  There were 4843 houses sold in 2010, which was down 5.1% from 5104 homes sold during 2009.  The statistics were taken from a combined total of Forsyth, Davie, Davidson, Stokes, and Yadkin Counties.   Local appraiser, Michael Clapp, compiled the statistics.  He believes we are near the bottom based on the analysis.   [Read more...]

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U.S. Unemployment Falls to 9 Percent

February 5, 2011 By Leave a Comment

The unemployment rate fell to 9 percent in January from 9.8 percent just 2 months ago. This is the fastest 2 month drop since 1958.  The Eisenhower administration was in office then. 
In January more than a half million people found jobs.   This is one of the most encouraging signs since the Great Recession ended.  This is the lowest unemployment has been since April, 2009.  This should increase the confidence of consumers and businesses. 

Forsyth County’s unemployment is at 9.1 percent.   The Dow Jones is above 12000 for the first time since mid-2008, and retail sales are at a five year high.

We obviously haven’t reached economic utopia, but we are definitely headed in the right direction.  From recent activity I’ve seen with buyers as well as speaking with other Realtors, I believe 2011 is going to be a much better year for the housing market and real estate in general.  Don’t hesitate to contact me at 336.287.4423 if you are looking to buy or sell real estate before mortgage rates start going up.

Unemployment Falls to 9 Percent

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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.”

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Recession Ends in NC in 2010 According to Economist

March 17, 2010 By Leave a Comment

A University of North Carolina at Charlotte economist forecasts that the recession will end in NC during 2010.  Economist, John Connaughton, is a professor at the Belk College of Business at UNC Charlotte.  He says that 7 of 11 economic sectors are set to rise this year in NC.  Real Estate is one of the sectors with projected growth of 5.2%.  That’s good news for sellers who have had to weather one of the worst real estate markets in history.  Even though the housing market in the Triad area has not been hit hard, there has been a decline for the last three years.

Read the full article below.

The Recession Ends in North Carolina in 2010

Now is a great time to sell your home, as many people are looking to buy in the Spring.  If you would like a Highest Price Analysis please give us a call or stop by and see us on 3401 Healy Dr., Suite B, Winston-Salem, NC 27103.  We’re right beside the post office, so our office is easy to find.   Our digital marketing strategy is like no other real estate firm, so before you list your home with someone else and end up on the expired list, give us a call.  We look forward to working with you.

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FHA Changes – Insurance Premium to Increase 30%

January 20, 2010 By Leave a Comment

Today, the WALL STREET JOURNAL published an article with recently announced FHA changes. FHA Updates Guidelines The highlights of the changes are buyers’ FHA insurance premium will increase from 1.75% to 2.25%; seller’s can contribute less money towards closing costs to help buyers; and buyers with credit scores below 580 will be required to make a 10% down payment. The changes will go into affect this Spring. These changes may be necessary to shore up FHA reserves, however Ivy Zelman, chief executive of Zelman & Associates, a housing-research firm, called the changes a “major coup” for the housing industry. I couldn’t disagree more.

Here’s why I disagree with Mr. Stevens. The insurance premium is going up 30%, which means it’s going to cost buyers more money to buy a home using an FHA loan. For a $200,000 loan, that means an increase from $3500 to $4500. This will only extend the current housing woes because buyers will have to buy less home, and sellers will have to consider lowering the price of their homes. Of course this isn’t the only problem with the market currently. High inventory due to REO’s (bank owned foreclosures) and the FED starting to phase out the purchase of mortgage backed securities (which will cause interest rates to increase) will also keep the “recovery” at a snail’s pace at best.

If you need a trusted Realtor in the Winston Salem area (Clemmons, Lewisville, Advance, Kernersville, Pfafftown) and want to take advantage of today’s current guidelines before these go into affect give me a call/text at 336-287-4423 (skype: tony.exit).

You can read the entire article at the link below
WALL STREET JOURNAL Reports FHA Changes: A Coup for the Building Industry

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Is Now The Right Time To Sell My Home?

November 12, 2009 By Leave a Comment

Unless you’ve had your head in the sand for the last year, you realize that the real estate market has been down.  Our area has not been hit like other areas of the country, but it has been affected none the less.  Should I Sell My HomeThe first time home buyer’s tax credit has increased the number of homes being sold in the lower price ranges, but now with the expansion of that credit to include all other buyers (up to $800k) who had owned their previous home for at least 5 years, it should improve the overall market.

The home buyer’s tax credit extension & expansion make this a great time to sell your home, but you’re still unsure.  We offer a Real Estate Timing Analysis to see if it’s right for you.  This analysis is a bird’s eye view of the current market given the various time frames that it takes you to get your home on the market, get it sold at the best price, get your money, and move on to your new home. If you feel this may be of value to you, please give me a call and let’s get together.  I work with buyers, sellers, and investors in the greater Winston Salem area including Clemmons, Lewisville, Pfafftown, Kernersville, Advance, and Yadkinville. (336) 462-9544 .

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