Winston-Salem, NC Real Estate News

By Doug Patterson, CRS, ABR, Broker-In-Charge
(Park Place Real Estate, Broker-In-Charge)
HOMES FOR SALE IN WINSTON SALEM TRIAD NC HELP WITH MORTGAGE PROBLEMS      Is your home loan owned by Fannie Mae or Freddie Mac?  Who the heck is Fannie Mae and Freddie Mac?  They've been in the news alot lately.  The Federal National Mortgage Association, nicknamed Fannie Mae, and the Federal Home Mortgage Corporation, nicknamed Freddie Mac, have operated since 1968 as government sponsored enterprises.         Many banks have sold their loans to Fannie or Freddie, there may be some help to folks who are struggling with their mortgages. You can easily check here to see if either one of them owns your mortgage loan.       If you are a homeowner who is current on your mortgage payments but you are unable to refinance to a lower interest rate because your home value has decreased, you may b...
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By Doug Patterson, CRS, ABR, Broker-In-Charge
(Park Place Real Estate, Broker-In-Charge)
SHORT SALES IN HOMES FOR SALE WINSTON SALEM TRIAD NC I'm asked at least once or twice a week from buyer customers or clients:  "What exactly is a Short Sale Foreclosure?"   I usually start answering by telling them what it isn't.   It isn't  when a property is already in Foreclosure.  And it isn't a term used to describe a "Quick Sale" of a foreclosed property.  A "Short Sale" can be defined as an "arrangement" between the homeowner and the bank that lent them the funds to purchase their home, to accept a buyer's offer of a lesser amount than what is now owed to pay off the mortgage.  The difference between the amount owed and what the bank will collect at the "short sale" is referred to as "the deficiency".    When I'm speaking with new buyers who have expressed an interest in foreclos...
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By Angela Lawrence, Broker/Owner
(Noble Merit, REALTORS®)
The following numbers are the New Listings/Current Actives for Oct 2009 Source - Triad MLS County New Listings Current Actives Guilford 845 4158 Forsyth 577 3252 Davidson 180 1173 Randolph 124 749 Davie 66 416 Stokes 43 293 Surry 47 427 Yadkin 21 145 Alamance 87 361 Rockingham 74 491 The following numbers are the sold homes in each county for Oct - 2008 vs 2009 Source - Triad MLS County SOLDS Oct 2008 SOLDS Oct 2009 Guilford 403 303 Forsyth 268 258 Davidson 101 80 Randolph 56 50 Davie 21 30 Stokes 29 19 Surry 26 23 Yadkin 2 15 Alamance 34 24 Rockingham 45 28
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By Doug Patterson, CRS, ABR, Broker-In-Charge
(Park Place Real Estate, Broker-In-Charge)
NEW TAX CREDITS AVAILABLE FOR HOMES FOR SALE IN WINSTON SALEM NC The President will be signing into law the new First time homebuyers AND Existing homebuyers tax credit stimulus!    The National Realtors Association has been vigorously pushing for an extension of this much needed boost to the housing market, because in recent months, the growth in housing sales throughout the country has been viewed as one of the most positive steps in our overall economic recovery. The $8,000 first time homebuyer tax credit for Homes for Sale in Winston Salem  was due to expire on November 30th! Eligibility of First Time HomeBuyers is the same as before, in that they can not have had an interest in a principal residence for 3 years prior to purchasing.   The tax credit is the same as before, $8,000 fo...
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By Doug Patterson, CRS, ABR, Broker-In-Charge
(Park Place Real Estate, Broker-In-Charge)
Surveys For Existing Homes For Sale In Winston Salem NC Have you heard anyone make these types of statements... "I don't need to have a Survey done for an existing home where no road changes have been made in 25 years!"   Or, "It's a waste of good money that I could apply towards the down payment!"  And this one, "Title Insurance will protect me!" The awful truth is, a Surveyor should be hired in most all cases where real estate ownership is changing hands.  A survey is a small price to pay for the peace of mind when purchasing a home for sale in Winston Salem, in order to avoid law suits and long, sleepless nights.  Your REALTOR® can point out to you, as a prospective buyer, that encroachments across property lines may have occured since the last survey.  This problem can result in la...
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By Doug Patterson, CRS, ABR, Broker-In-Charge
(Park Place Real Estate, Broker-In-Charge)
River Birch Lodge in Winston Salem NC When the River Birch Lodge in Winston Salem opened a couple of years ago, there were only  one or two destination restaurants in "our neck of the woods" which is the Mt. Tabor community at Robinhood Road.   Definitely no others that offer the camaraderie you'd expect from a "GREAT BAR" coupled with a "GREAT DINING ROOM" with a wide choice of excellent entrees and wine selections, all under the same roof.   One of our local paper "restaurant columnist", wrote about the River Birch Lodge  when it opened.  She kept repeating throughout her article, that is was a very "Manly Restaurant."  We all assumed she was thinking of the "big, massive wood beam construction," designed with a "Mountain Lodge" theme.  The canoe mounted to the wall with an assortment...
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By Doug Patterson, CRS, ABR, Broker-In-Charge
(Park Place Real Estate, Broker-In-Charge)
Billy Bob's Silver Diner in Winston Salem NC Eating breakfast out is one of my favorite times to enjoy "the works"!  There is no better place to find all you are looking for, than Billy Bob's Silver Diner©.  From the very crispy"Chunky Home Fries" to a their "Mile High Omelets"!  Naturally, all their meal are made to order, of course.  Restaurants in Winston Salem have flourished in recent years, because of the general growth in our area.  North and South of Winston Salem have seen the most growth in new construction of shopping areas and Billy Bob's Silver Diner© is in one of the most visible locations in that southern area.  Of course, having a "Shiny" silver exterior doesn't hurt either!  Billy Bob's Silver Diner© is a very friendly place as well.  The staff obviously enjoys their wo...
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By Doug Patterson, CRS, ABR, Broker-In-Charge
(Park Place Real Estate, Broker-In-Charge)
Staging Homes for Sale in Winston Salem, NC Recently I was taking a young lady on a tour of homes for sale in Winston Salem  and surrounding towns and decided to make it a project of seeing her reactions in homes with no staging and those that were.  It's a proven statistic that more sales come out of a "staged home" than not, so I wasn't trying to test that value, but instead to just see (and hear) the reactions.  In a dated condo, the listing agent had taken only one room, the dining room, and placed a Danish style table with 4 small matching chairs onto the buffed up hardwood flooring.  At each place setting, there was a brightly colored, over-sized plate on a neutral colored place mat.  Beside each plate was an unusually large matching knife, 3 pronged fork, and a large spoon.  The ...
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By John McPherson
(MKT Real Estate Group of Coldwell Banker Triad)
Real Estate Radio is a weekly radio show airing Saturdays at 9 am.  The show airs on 600/1200 WSJS in the Triad of North Carolina.  John McPherson, Angela Kalamaras, and Wendy Taylor are the partners that formed the MKT Real Estate Group of Coldwell Banker Triad Realtors.  Real Estate Radio can be heard on your radio, on our website live at www.mktrealestategroup.comand on our podcast on itunes at http://www.facebook.com/l/19872;itunes.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=306614195 we also have a Real Estate Radio Group Page on Facebook. Guests have included Mayor Allen Joines, WS Chamber President Gayle Anderson, and various folks from charities, Co Operative extension, etc. The show is sponsored in part by Ruth Hudspeth of Fairway Independent Mortgage www.triadfairwaymc....
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By Doug Patterson, CRS, ABR, Broker-In-Charge
(Park Place Real Estate, Broker-In-Charge)
Winston Salem NC Triad Home Values  Statistics Holding Strong The statistics are in!   ...For Winston Salem NC Triad Home Values ... and they prove that home values remain strong!  For Winston Salem, Greensboro and High Point, North Carolina, our Multiple Listing Service (MLS) is saying that since 2007 to today, home sales are down, but the values are still holding strong. The average home price in the Triad remain on an average of about $201,000.  Our MLS has posted that in the years 2007, 2008 and up to September 2009, that the average days a home remains on the market prior to closing has been 106 days with a ratio of List Price to Sales Price of 99%!  An excellent track record by most anyone's standard, proving Winston Salem NC Triad home values are holding strong.  If you are plann...
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By Doug Patterson, CRS, ABR, Broker-In-Charge
(Park Place Real Estate, Broker-In-Charge)
Foreclosures In Winston Salem NC and How to Buy HUD Foreclosure Real Estate Foreclosure homes in Winston Salem are a good deal when they can be purchased in such a way as to realize built-in equity "at the closing" table.  Everyone knows that having equity in one's home means that your financial statment reflects that equity, thus providing greater net worth!  This can apply to the First Time Homebuyer as well a someone looking for a great rental property, a second home, or your primary residence.  There are literally hundreds of web sites that claim to have current lists of foreclosure homes for sale all over the country.  Most of those sites have outdated information and require a fee to join.  One site that will usually NOT have out of date listings and is FREE to use is HUD... short...
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By Doug Patterson, CRS, ABR, Broker-In-Charge
(Park Place Real Estate, Broker-In-Charge)
First Time Homebuyers in Forsyth County, NC $8000 Tax Credit Deadline Approached! Whatever monitoring device you use, such as Microsoft's Outlook Calendar, Facebook's CountDown Feature, or just a plain old "Wall Calendar",                                        NOW is the time for First Time Homebuyers to mark the ending date of NOVEMBER 30th.   There are efforts being made by The National Realtor's Association to impress upon our government to extend that cut-off date, but if it is not extended, First Time Homebuyers are encouraged to locate the home they wish to purchase and "get under contract" with the seller prior to October 15th.  By heading towards October 15th, the first time homebuyer will be in position to have the sale closed by the November 30th DEADLINE! To qualify for this...
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By Doug Patterson, CRS, ABR, Broker-In-Charge
(Park Place Real Estate, Broker-In-Charge)
Home Sales are stabilizing in Winston Salem, NC!  I was out walking my dog, “Winston”, a two year old male Schnauzer, the other day and struck up a conversation with another fellow from the adjoining neighborhood. He asked me what I did for a living and I told him I was a REALTOR®.  I naturally referred him to my "easy to remember" web site:  www.callDOUGnow.com Then he made the comment, “I read in the Winston paper that  home sales are stabilizing in Winston Salem.” “Hold On,” I replied! “A statement like that about Winston Salem (and Forsyth County as a whole) is a little misleading.”   “How so,” he asked.  So I proceeded to share my thoughts on the real estate market …you know... like most of us in our industry can tend to do from time-to-time!   Generally speaking though, North Caro...
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By Angela Lawrence, Broker/Owner
(Noble Merit, REALTORS®)
The following numbers are the New Listings/Current Actives for July 2009 Source - Triad MLS County New Listings Current Actives Guilford 768 4195 Forsyth 619 3383 Davidson 207 1235 Randolph 130 728 Davie 27 431 Stokes 58 289 Surry 53 455 Yadkin 26 148 Alamance 58 335 Rockingham 76 521 The following numbers are the sold homes in each county for July - 2008 vs 2009 Source - Triad MLS County SOLDS July 2008 SOLDS July 2009 Guilford 519 383 Forsyth 417 257 Davidson 127 82 Randolph 66 62 Davie 41 16 Stokes 30 13 Surry 42 22 Yadkin 6 5 Alamance 40 27 Rockingham 45 34
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By Angela Lawrence, Broker/Owner
(Noble Merit, REALTORS®)
The following numbers are the New Listings/Current Actives for June 2009 Source - Triad MLS County New Listings Current Actives Guilford 746 4203 Forsyth 536 3365 Davidson 196 1205 Randolph 151 689 Davie 59 442 Stokes 41 284 Surry 62 436 Yadkin 56 135 Alamance 72 353 Rockingham 72 530 The following numbers are the sold homes in each county for June - 2008 vs 2009 Source - Triad MLS County SOLDS June 2008 SOLDS June 2009 Guilford 619 412 Forsyth 467 310 Davidson 141 88 Randolph 91 49 Davie 48 30 Stokes 33 35 Surry 37 23 Yadkin 11 13 Alamance 54 19 Rockingham 53 55
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By Angela Lawrence, Broker/Owner
(Noble Merit, REALTORS®)
The following numbers are the New Listings/Current Actives for March 2009 Source - Triad MLS County New Listings Current Actives Guilford 785 4254 Forsyth 680 3414 Davidson 185 1217 Randolph 108 686 Davie 59 429 Stokes 46 282 Surry 65 395 Yadkin 20 102 Alamance 58 315 Rockingham 76 564 The following numbers are the sold homes in each county for March - 2008 vs 2009 Source - Triad MLS County SOLDS Mar 2008 SOLDS Mar 2009 Guilford 470 292 Forsyth 352 225 Davidson 110 62 Randolph 90 60 Davie 28 16 Stokes 24 13 Surry 30 21 Yadkin 12 7 Alamance 41 22 Rockingham 44 30
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By Angela Lawrence, Broker/Owner
(Noble Merit, REALTORS®)
Enjoy nature, get some exercise, visit these mountain state parks in the Piedmont Triad, lots of hiking and gorgeous views, just north of Winston Salem.Hanging Rock - Less than an hour from Greensboro and Winston-Salem, Hanging Rock is the triad's best nearby hiking getaway. Within its 6000 acres are more than 18 miles of maintained hiking trails that lead to vistas, waterfalls, caves and ridges.Pilot Mountain - Pilot Mountain is capped by two prominent pinnacles. Big Pinnacle, with walls of bare rock and a rounded top covered by vegetation, rises 1,400 feet above the valley floor, the knob jutting skyward more than 200 feet from its base. Big Pinnacle is connected to Little Pinnacle by a narrow saddle. Visitors have easy access to the top of Little Pinnacle where the view encompasses h...
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A long night of basketball ended with favorite Wake Forest getting manhandled by Cleveland State 84-69 in the first round of the NCAA tournament.  Cleveland State started strong taking a 9-0 lead it never lost.  Wake Forest hung around as good teams do, but the senior laden team of Cleveland State wouldn't let them back in.  Wake Forest has no seniors in it's starting lineup. A disappointing finish to what many consider the start of a new era at Wake Forest.  Sometimes you just don't have it.  Congratulations to Cleveland State and good luck going forward.   It is football season yet?   With 15+ years in the business, licensed with the North Carolina Real Estate Commission and the North Carolina General Contracting Board.  Certified Mortgage Consultant, E-Pro.  We provide the most compr...
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  We all seem to want to think that we have it tough in this world, jobs going away, money problems, it never seems to end.  But think about the ones before us.  My mom is 80 years old.  She worked in a factory for just a few dollars an hour and raised four kids.  She has lived through world wars, famine, hard times and more.   She also found the time to make sure my family had a meal to come home to each day.  She pushed us in school, all of us graduated with two of us with college degrees.  There wasn't 401-k money or large bonuses but we made it through.  She found the time and money to make sure I had sneakers and a glove to play sports with.  Many times my friends fogged up the car with our sweat after practice.  But she never said a word.  Just continued to push and clean my dirt...
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By Gregory Burgess
(Peoples Home Equity)
We all love to hear about free money.  But the truth of the matter is nothing is free!  That holds especially true when it comes to the current stimulus language being floated on Capitol Hill.  With rates floating in the 5-6% range, one wonders what impact subsidizing a further drop in rates will have?  Most people looking to buy right now are not on the fence because of payments.  They are on the fence because they are uncertain of the market as a whole and whether or not now is the time to buy. They are concerned about their job security and whether they will be able to make payments on an ongoing basis. If the difference of 30-50 dollars a month is a decision maker, then you should really reconsider whether buying a home is for you.  These types of decisons are part of the reason the...
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