Winston Salem, NC

Winston Salem foreclosures for sale are very popular among investors and other home buyers. While everyone seems to be attracted to foreclosures only a few actually purchase one. The reason that most home buyers end up shying away from a Winston Salem foreclosure is typically related to the condition of the property.

The process of a home going to foreclosure can take many months from the time the previous owner are out to the time it is re-listed for sale. During those many months (sometimes years) the condition of a Winston Salem foreclosure deteriorates due to lack of conditioned air, electricity, maintenance, weather conditions, vandalism, theft and more.

Therefore, it is not uncommon for most foreclosure to be in such a state of disarray that most lenders will not provide a new home loan for prospective buyers. In fact this type of purchase will often require cash or an investment loan. Winston Salem foreclosures can be a very good opportunity to invest but you need an expert real estate agent to help you find the deals and secure financing.

Meanwhile, there are tons of other home deals available that are in good condition and the majority of home buyers who qualify can get a loan to purchase. Just because they are not a foreclosure does not mean they are not a good investment. In fact they do not ofter require massive overhead and repair costs that is usually associated with buying a Winston Salem foreclosure. All homes have to compete with the lower prices that are driving the market. Therefore with combined low rates and massive (cheap) inventory this is the best time to purchase a home ever!

It would behoove a potential buyer to search all Winston Salem area homes for sale that match their criteria and not restrict themselves to only foreclosures. The high inventory available means that it is very likely for a buyer to find what they are seeking in a home, but remember to act fast because all the good deals go fast!

Real estate in Winston Salem NC is a broad topic for this post but worth discussing. Many parts of the country and the world are experiencing a declining real estate market. However, to say the whole housing market is in the dumps is like the weather man saying is going to be sunny everywhere. There are mico-environments that are still doing okay and others that are worse. Therefore, this post is dedicated to providing some perspective on real estate in Winston Salem NC.

Real estate in Winston Salem NC has certainly declined from previous years. Based on tracking local statistics and sales information it would seem the overall market for real estate in Winston Salem NC is down about 30%.

The media emphasis the foreclosure impact and abundant inventory. Meanwhile, real estate in Winston Salem NC is seeing a larger than normal volume or foreclosures and they are selling fast. As of lately the number of foreclosure listings on the market is a very small percentage of total homes for sale in Winston Salem. However, the percentage of sold homes is made up of about one third distressed sales.

Nonetheless, there are some areas of the market that are doing well. First time buyers combined with down sizing buyers are making the under $200K market steady. As is the case with any real estate in Winston Salem NC you must be in TOP condition and LOWEST price in order to attract the volume of buyers required to get sold under these unique market conditions.

Real estate in Winston Salem NC is in fact not as bad as many other parts of the country. Likewise, it ranks as one of the best cities to invest in real estate. The bottom line is that if you do not have to sell your home in this market then do not attempt it. Conversely if you must get your home sold be prepared to have your home look the best and cost the least based on similar properties available for purchase. Homes are getting bought and sold every day. Overall, things are not as bad as they could be when it comes to real estate in Winston Salem NC.

Get your Free Real Estate in Winston Salem NC total market report and see for yourself!

Winston Salem home values are the first thing on the mind of someone needing to sell their property. I understand how the uncertainty of the housing market is creating negative backlash. Therefore this post is dedicated to helping people find the resources they need to make smart choices.

If you are thinking about or currently trying to sell your home then you might benefit from these Winston Salem home values resources:

Winston Salem Real Estate Update- You can find market conditions and statistics to better understand what is happening in your neck of the woods.

Winston Salem Homes For Sale -Browsing the current homes for sale can help you get an idea of what price similar homes are asking.

Winston Salem House Hunter - Here you can learn more about a buyers perspective and understand what potential purchasers of you home are thinking.

Finally you can always ask us what your home's value is currently. As you know this market is constantly changing and we tell our clients that a home valuation is like a gallon of milk; it is only good for a little while. The price a buyer is willing to pay for a home is what drives value. Likewise, local conditions such as foreclosures or short sales can also drive Winston Salem home values down. So you have to ask yourself, just how sure are you that your neighbors are all current on their mortgage?

Flood insurance for Winston Salem homes can be an added expense or an invaluable asset, but do you need it? These past few years have had quite a few natural disasters. Not just around the World but also here in our great country. We really cannot do anything to stop or prevent a natural disaster. However, we can take steps to protect ourselves and our investments.

You could build an emergency bunker, put your house on stilts, or make your home zombie proof. These measures may be a bit extreme for the majority of the population. Instead consider a mre simplistic approach. For example, home owners insurance.

Did you know that most homeowner’s insurance policies do not include flood coverage? Some lenders may require it based on the home's proximity to water. However, a standard flood insurance policy can be obtained at any point by the home owner that covers physical damage to the property. It is readily available to homeowners, renters, and even businesses.

Many Winston Salem home owners think they do not need the added expense of a monthly flood insurance policy. However, North Carolina has many areas that are at risk of flooding and you may not even know it. You never know when another hurricane like Floyd might drop 20 inches of rain in a few days causing unusual or rare flooding conditions. I do not sell insurance so I am not trying to push anything. However, I am challenging to ask yourself: is this something I might need?

Event a small creek or wash gully could become a flood hazard under the right conditions. The cost of flood insurance can be minimal if you live in a low risk area, so it may be worth investigating. Just like any other insurance policy it can provide peace of mind in the face of adversity. Another thing to keep in mind to does your homeowner's policy cover you if your dishwasher line breaks and floods your kitchen? Likewise, what if the water heater bursts and floods your hall? Some policies will, others may require additional coverage for Winston Salem homes.

Again, I am not here to sell insurance, I sell Winston Salem homes.However, I want my clients to have peace of mind, and insurance coverage. This way when you call me down the road to sell your home, we have a home in good condition that we can aggressively market and get SOLD!

The ONE thing a buyer needs before looking at Winston Salem area homes....

Buyers are excited and anxious about exploring the vast buffet of great homes available in this unique market. They should be excited! As a local real estate professional I have helped many buyers land some incredible deals. However there are a few things, one in particular, which buyers should have before browsing the Winston Salem foreclosures.

First it would behoove a buyer or seller to read What you dont Know about Hiring an Agent. This will help you be prepared when choosing an agent and likewise what information to share with them and the proper time to share it.

Secondly, it is very easy to get lost in the excitement of shopping for new Winston Salem area homes. Therefore, the one thing every potential buyer should do as soon as possible is to talk to a lender. Many homes and all foreclosures will require a pre-qualification letter from your lender prior to ever submitting an offer. Think of the pre-qualification as the golden ticket that gets you in the awesome homes deal show.

Once you have your ticket in hand you will know what price range to cater your home search towards. This information can make your property search quicker and easier. There is nothing more frustrating than falling in love with your dream home only to discover that you cannot get pre-qualified for the loan.

It is also very common to become so frustrated with your search due to the incredible number of homes for sale on the market. By simply getting your letter and narrowing your price range it can become less of a challenge to find and select the homes that fit your criteria.

So if you want to get into the greatest buyers market we have ever seen, then you will need your golden ticket! Get your loan prequalification letter today, and start searching all the great Winston Salem homes for sale.