Fall 2010 Market Update
If you can qualify, now is an exceptional time to buy a home in Winston-Salem. Home prices are beginning to rise suggesting we have hit a bottom. Buy low! Don’t wait another day to get your deal. Call Kim Hackler at 336-462-2209 for additional information.
Average Home Price $150,000 - View Graph Trend
Average Price Compared to Last Year No Change
Average Time on Market More than 120 days
Best Selling Price Range $100,000 - $149,000
Worst Selling Price Range $750,000 - $799,000
Prices As % of Asking Price 90-95%
Existing Home Prices for the past 90 days are? Decreasing
Market Trend Decreasing
Buyers’ or Sellers’ Market More sellers than buyers
Buyer Activity for the past 90 days in Winston-Salem is Increasing
Seller Activity for the past 90 days in Winston-Salem is? Increasing
Multiple Offers? No
Multiple Offers Commentary Multiple offers are common on under priced foreclosures.
What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 5-10%
Is Financing Available For Qualified Buyers? Yes
Comments on Financing For Qualified Buyers We have both an in-house lender affiliate and
in-house insurance affiliate ready to help all buyers with their needs.
Housing Inventory Good supply - Some Prices
Inventory Comments Homes are beginning to move off the market, but there has been a number of sellers that have delayed listing their homes in the last year. We are still noting move inventory than buyers.
Greatest Activity Investors
Reason to Buy/Sell Lower prices with good selection and competitive interest rates creates a perfect time to buy in Winston-Salem! Unemployment rates are decreasing in area.
Nearest Metro Area Winston-Salem
Housing Hot Spots Most cities within the Forsyth County area are considered 'Housing Hotspots' Some of the most popular neighborhoods in Winston-Salem include Ardmore, Buena Vista, Country Club area, Sherwood Forest and historic West End
Average Sold Price $150,000 - View Graph Trend
Winston-Salem Local News
Repeat Buyers & Investors With Cash Boosting Home Sales & Prices In Many Markets, New HouseHunt
Survey Shows For the first time in nearly three years, repeat buyers and investors have overtaken first-time buyers as sales leaders once again in the nation's housing market. As a result, prices of bank-owned REOs and properties involved in short sales are being bid up by multiple offers and cash buyers in many neighborhood's, according to the latest HouseHunt quarterly current market conditions survey. "The current ratio of 58% to 42% favors repeat buyers," said Michael Bearden, president and CEO of HouseHunt, Inc. "This is an increase of 10 percentage points over a year ago and 24 points over six months ago. In a more balanced market of supply and demand, repeat buyers usually lead by a two-thirds ratio."
Tuesday, November 9, 2010
Thursday, November 4, 2010
Change Clocks This Weekend And Check Those Smoke Detectors.!
Change clocks this weekend
By: Kim Hackler
Daylight saving time ends at 2 a.m. on Sunday. That's when time "falls back" to 1 a.m.
The time change, of course, means it will get dark earlier in the evening, but it also means that morning daylight will come an hour earlier, and school children won't be waiting for the bus in the dark. Daylight saving time will return to Georgia at 2 a.m. on March 13, 2011.The use of daylight time was first established in the U.S. in 1918 as part of the Standard Time Act, which also officially instituted the time zones in the United States. However, daylight time was contentious at the time and was repealed in 1919, according to the U.S. Naval Observatory. It became a local matter. It was reestablished nationally during World War II and was observed from February 1942 to September 1945, when it became a local option again. The Uniform Time Act of 1966 provided standardization in the dates of the beginning and end of daylight time, but allowed for local exemptions. Beginning in 1966, daylight time began on the last Sunday in April and ended the last Sunday in October.During the "energy crisis" of the 1970s, the start date was moved forward and daylight time began Jan. 6 in 1974 and Feb. 23 in 1975. Then, it reverted to the last Sunday in April.In 1986, a law was passed moving the start of daylight time to the first Sunday in April.
The current configuration of daylight and standard time was created by the Energy Policy Act of 2005, which went into effect in 2007. The time change has also traditionally been a time when people are reminded to check the batteries in their smoke detectors.
Kim Hackler ABR,REALTOR,BROKER
336-462-2209
Tuesday, October 26, 2010
Buying A Home Makes Good Sense
Nearly Eight in 10 Americans Still Believe Buying a Home Makes Good Financial Sense
Washington, October 14, 2010
Nearly eight out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. That’s according to the 2010 National Housing Pulse Survey, an annual report released today by the National Association of Realtors®.
The survey, which measures how affordable housing issues affect consumers, also found job security concerns to be the highest in eight years of sampling, with 70 percent of Americans saying that job layoffs and unemployment are a big problem in their area; eight in 10 cite these issues as a barrier to homeownership.
“The real issue facing the nation’s economy right now is that many Americans can’t find meaningful work to support their families,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “While a job recovery is what’s needed right now to get the economy and housing market back on the right track, owning a home continues to be part of the American Dream and one of the best long-term investments in your future.”
Despite economic uncertainty, 68 percent of those surveyed still believe now is a good time to buy a home; while that number is down from last year (75 percent), it’s up from 2008 (66 percent) and 2007 (59 percent). Lower home prices and record-low mortgage interest rates may be attracting buyers to the housing market – more than one-fourth of renters said they are thinking more about buying a home than they were a year ago. Sixty-three percent of renter respondents said that owning a home is a priority in their future, and nearly 40 percent said it was one of their highest priorities.
Lower home prices have improved affordability. In fact, the percentage of renters who are worried that the cost of housing is getting so unaffordable that they will never be able to buy a home has decreased steadily since 2007, from 63 to 57 percent.
Despite improved affordability, 79 percent of respondents still consider having enough money for down payment and closing costs to be among of the biggest obstacles to buying a home. Another obstacle is a lack of confidence in their ability to be approved for a loan, reported by 73 percent of respondents.
The good news is that Americans are seeing more stability in the real estate market. Nearly seven out of 10 believe that home values have stabilized in their area; the same number expects home sales to remain about the same through the end of the year.
While more than half (51 percent) say foreclosures are a problem in their area, the rate of foreclosures is also seen as stabilizing; 51 percent say the rate is about the same as last year. Thirty-six percent of respondents cite the recession, loss of jobs and the poor economy as the main reason for the ongoing foreclosure problem. This has also led to a slight increase in the number of people who believe the federal government should take a more active role overseeing loans and mortgages (44 percent, up from 43 percent last year).
While nearly seven out of 10 say it’s harder to sell a home in their area today than it was a year ago, it’s less of a concern from last year when the number was 10 percentage points higher. This is most likely the result of lower home inventories.
The 2010 National Housing Pulse Survey is conducted by American Strategies and Myers Research & Strategic Services for NAR’s Housing Opportunity Program. The telephone survey was among 1,209 adults living in the 25 most populous metropolitan statistical areas. The study has a margin of error of plus or minus 3.1 percentage points.
NAR’s Housing Opportunity Program, www.realtor.org/housingopportunity, was created in 2002 to encourage local Realtor® associations to create initiatives that help increase housing opportunities available to consumers and make affordable housing more readily available in their communities.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.
Nearly eight out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. That’s according to the 2010 National Housing Pulse Survey, an annual report released today by the National Association of Realtors®.
The survey, which measures how affordable housing issues affect consumers, also found job security concerns to be the highest in eight years of sampling, with 70 percent of Americans saying that job layoffs and unemployment are a big problem in their area; eight in 10 cite these issues as a barrier to homeownership.
“The real issue facing the nation’s economy right now is that many Americans can’t find meaningful work to support their families,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “While a job recovery is what’s needed right now to get the economy and housing market back on the right track, owning a home continues to be part of the American Dream and one of the best long-term investments in your future.”
Despite economic uncertainty, 68 percent of those surveyed still believe now is a good time to buy a home; while that number is down from last year (75 percent), it’s up from 2008 (66 percent) and 2007 (59 percent). Lower home prices and record-low mortgage interest rates may be attracting buyers to the housing market – more than one-fourth of renters said they are thinking more about buying a home than they were a year ago. Sixty-three percent of renter respondents said that owning a home is a priority in their future, and nearly 40 percent said it was one of their highest priorities.
Lower home prices have improved affordability. In fact, the percentage of renters who are worried that the cost of housing is getting so unaffordable that they will never be able to buy a home has decreased steadily since 2007, from 63 to 57 percent.
Despite improved affordability, 79 percent of respondents still consider having enough money for down payment and closing costs to be among of the biggest obstacles to buying a home. Another obstacle is a lack of confidence in their ability to be approved for a loan, reported by 73 percent of respondents.
The good news is that Americans are seeing more stability in the real estate market. Nearly seven out of 10 believe that home values have stabilized in their area; the same number expects home sales to remain about the same through the end of the year.
While more than half (51 percent) say foreclosures are a problem in their area, the rate of foreclosures is also seen as stabilizing; 51 percent say the rate is about the same as last year. Thirty-six percent of respondents cite the recession, loss of jobs and the poor economy as the main reason for the ongoing foreclosure problem. This has also led to a slight increase in the number of people who believe the federal government should take a more active role overseeing loans and mortgages (44 percent, up from 43 percent last year).
While nearly seven out of 10 say it’s harder to sell a home in their area today than it was a year ago, it’s less of a concern from last year when the number was 10 percentage points higher. This is most likely the result of lower home inventories.
The 2010 National Housing Pulse Survey is conducted by American Strategies and Myers Research & Strategic Services for NAR’s Housing Opportunity Program. The telephone survey was among 1,209 adults living in the 25 most populous metropolitan statistical areas. The study has a margin of error of plus or minus 3.1 percentage points.
NAR’s Housing Opportunity Program, www.realtor.org/housingopportunity, was created in 2002 to encourage local Realtor® associations to create initiatives that help increase housing opportunities available to consumers and make affordable housing more readily available in their communities.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.
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