Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

June 5, 2024

Forsyth County NC May Real Estate Market Update

Posted in Market Updates
June 4, 2024

High value at a low cost

Posted in General tips
May 23, 2024

Questions You May Have About Selling Your House

There’s no denying mortgage rates are having a big impact on today’s housing market. And that may leave you with some questions about whether it still makes sense to sell your house and make a move.

Here are three of the top questions you may be asking – and the data that helps answer them.

1. Should I Wait To Sell?

If you’re thinking about waiting to sell until after mortgage rates come down, here’s what you need to know. So are a ton of other people.

And while mortgage rates are still forecasted to come down later this year, if you wait for that to happen, you may be dealing with a lot more competition as other buyers and sellers jump back in too. As Bright MLS says:

“Even a modest drop in rates will bring both more buyers and more sellers into the market.”

That means if you wait it out, you’ll have to deal with things like prices rising faster and more multiple-offer scenarios when you buy your next home.

2. Are Buyers Still Out There?

But that doesn’t mean no one is moving right now. While some people are holding off, there are still plenty of buyers active today. And here’s the data to prove it.

The ShowingTime Showing Index is a measure of how frequently buyers are touring homes. The graph below uses that index to show buyer activity for March (the latest data available) over the past seven years:

 

 

You can see demand has dipped some since the ‘unicorn’ years (shown in pink). That’s in response to a lot of market factors, like higher mortgage rates, rising prices, and limited inventory. But, to really understand today’s demand, you have to compare where we are now with the last normal years in the market (2018-2019) – not the abnormal ‘unicorn’ years. 

When you focus on just the blue bars, you can get an idea of how 2024 stacks up. And that gives you a whole new perspective.

Nationally, demand is still high compared to the last normal years in the housing market (2018-2019). And that means there’s still a market for your house to sell.

3. Can I Afford To Buy My Next Home?

And if you’re worried about how you’ll afford your next move with today’s rates and prices, consider this: you probably have more equity in your current home than you realize.

Homeowners have gained record amounts of equity over the past few years. And that equity can make a big difference when you buy your next home. You may even have enough to be an all-cash buyer and avoid taking out a mortgage altogether. As Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), says:

“ . . . those who have earned housing equity through home price appreciation are the current winners in today's housing market. One-third of recent home buyers did not finance their home purchase last month—the highest share in a decade. For these buyers, interest rates may be less influential in their purchase decisions.”

 

Bottom Line

 

If you’ve had these three questions on your mind and they’ve been holding you back from selling, hopefully, it helps to have this information now. A recent survey from Realtor.com shows more than 85% of potential sellers have been considering selling for over a year. That means there are a number of sellers like you who are on the fence.

But that same survey also talked to sellers who recently decided to take the plunge and list. And 79% of those recent sellers wish they’d sold sooner.

If you want to talk more about any of these questions or need more information, let’s connect.

 

 

May 22, 2024

volume_up Backyard BBQ Bonanza: Recipe Ideas to Fire Up Your Grill

 

Posted in General tips
May 22, 2024

Summer Sun, Summer Security: Keeping Your Vacation Home Safe

Summer beckons with promises of sunshine, relaxation, and getaways. But as you pack your bags and head for vacation bliss, don't forget about your summer home. Empty houses can be targets for opportunistic thieves. Here are some simple steps to ensure your summer sanctuary stays secure while you're soaking up the rays elsewhere.

Firstly, enlist the help of a trusted neighbor. Ask them to keep an eye on your property, collect mail and flyers, and perhaps even park a car in your driveway occasionally. In addition, consider investing in smart home security features. Smart locks allow you to remotely grant access to service people (like house cleaners or pet sitters) and check if doors are securely locked. Smart security cameras with motion detection can provide peace of mind and even send alerts to your phone if unusual activity is detected.

Posted in General tips
May 21, 2024

Saving Water and Money with Low-Flow Faucets and Fixtures

Water conservation is a growing concern, and luckily there are easy ways to make a difference right at home. Low-flow faucets and fixtures are a simple yet effective way to reduce water usage without sacrificing functionality. These fixtures use clever engineering to limit the amount of water that flows per minute, significantly reducing overall water consumption.

The benefits of low-flow faucets and fixtures are twofold. The environmental impact is clear – you'll be conserving this precious resource. But your wallet will also thank you, as lower water usage translates to lower water bills. Incorporating low-flow fixtures throughout your home, from the kitchen and bathroom faucets to showerheads, is a smart and sustainable way to make a difference.

Posted in Homeownership
May 21, 2024

Clean House Is a Happy House-Weekly Habits You Should Do

There's nothing like coming home to a clean space.  Wouldn't it be nice if your home felt this way all the time?  While you probably don't have time for a weekly deep clean, there are weekly habits you can develop for an overall cleaner home.  Even just implementing one or two of these to-dos into your routine can improve the overall quality and vibe of your home.  

  • Declutter--Bite-sized, weekly decluttering sessions are a quick way to work towards a cleaner home. It also helps to make a schedule so you can stick to a routine.  Example--First Saturday declutter panty.  If you declutter as you go, you have less to deal with on the scheduled day. 

  • Mop Hard Surfaces--This is not a fun task however doing it regularly keeps things sanitary and your home clean. Implementing a no outdoor shoes inside rule makes a big difference.

  • Change Bed Linens--Changing bed linens weekly is a habit that improves our sleep hygiene and adds to the overall freshness of the home. 

  • Dusting and Vacuuming--Dust and vacuum weekly especially in high-traffic areas and on furniture.  It's not just about cleanliness, it also extends the life of our carpets and floors.

  • Cleaning Your Bathroom--There are very few things as off-putting as a dirty bathroom.  While this isn't the most pleasant place to clean, it's worth it to scrub the toilet, sink, shower or bathtub, mirrors and fixtures every week. 

  • Clean and Tidy the Kitchen--Cleaning appliances and sink along with checking the refrigerator for expired items keeps your kitchen hygienic and pleasant.  Overall cleanliness goes a long way when you do a quick wipe down after each meal.

Posted in General tips
May 20, 2024

Building Wealth Brick by Brick: Exploring Multi-Family Investment Properties

The world of real estate offers a diverse range of investment opportunities, and multi-family properties stand out for their potential to generate steady income and long-term wealth. These properties, encompassing duplexes, triplexes, apartment buildings, and even condo complexes, provide multiple rental units that contribute to a consistent cash flow. This income stream can be a significant advantage compared to single-family rentals, offering a buffer against vacancy and diversification in your investment portfolio.

Beyond the income benefits, multi-family properties offer opportunities for appreciation. As property values tend to rise over time, so does the value of your investment. Additionally, strategic improvements and renovations within your units can further enhance their value and potentially increase potential rent. While multi-family properties require more upfront investment and management considerations compared to single-family rentals, the potential rewards can be substantial, making them a compelling option for investors seeking to build long-term wealth.

Posted in Homeownership
May 20, 2024

Mid May 2024 real estate market data for Forsyth Co., NC

How's the real estate market for the last 7 days in Forsyth County NC?

Continuing to move forward.  Biggest change was the average closed price increased.  For more details reach out to me and let's chat. 

Posted in Market Updates
May 17, 2024

Understanding Your Property Value: Land vs. Structure

When it comes to property value, there's more to the equation than just the bricks and mortar. Understanding the breakdown between land value and structure value is crucial for homeowners and potential buyers alike.

Land value refers to the inherent worth of the plot itself, independent of any buildings on it. Factors like location, size, and potential use (commercial vs. residential) all influence land value. A larger property in a prime location will naturally command a higher land value than a smaller lot in a less desirable area. The structure value, on the other hand, reflects the worth of the building itself based on its size, age, condition, and any unique features. A well-maintained, recently renovated home will have a higher structure value than an older property in need of repairs. When you add these two components together, you arrive at the total value of the property.

By understanding this distinction, homeowners can gain valuable insights. For example, if a property boasts a prime location but has an outdated structure, renovations could significantly increase the overall value. So, the next time you consider your property value, remember – it's about the land you own and the structure you've built upon it.

Posted in Homeownership