Greensboro, NC Real Estate Larry Story's Blog of the Triad!

Zipping To A Great Adventure In Greensboro NC

My youngest son and I went to visit Kersey Valley Ziplines yesterday. I was thrilled to find so much to do there. As one can see on Kersey Valley’s website they have a lot of things to do. They of course have more then a few ziplines. As a matter of fact the complex spans 55 Acres and with over a mile and a half of cable stretching around the complex they have one of the largest zipline facilities in the world.

It is one of the safest attractions that I have ever experienced also. I was very impressed at the attention to detail on safety. After getting our harnesses on we were giving a brief but, entertaining video on safety at the “Flight School”. We then met our Flight Captains. There are two Flight Captains with each group. The first captain would go across on the zipline to receive us and one would stay in the rear to send us off one at a time. I am already planning our return trip.

Kersey Valley is also the proud owners for the last couple decades Spooky Woods a Halloween Spooktacular Adventure. The Corn Maize is a popular fall attraction also. Then the newest attraction that is really doing well is Kersey Valley Laser Tag outdoor arena. Believe me my sons are already planning our next trips. One for Lazer Tag, one for the Ziplines, and the next for a surprise that I heard is possibly coming in the spring Off Road Segeway tours.

Merry Christmas To AllHome Buyers in The Triad of North Carolina

Merry Christmas to all Home Buyers in The Triad of NC and to all a good night. This is the line that pops in my mind as I think of the present buyers market and all the favorable situations that welcome home buyers at this moment.

For starters the interest rates are still historically low. I personally had a buyer last week lock in a fixed rate of 3.75% on a 30 year mortgage. This is their first home! I was happy for the double digit percentage interest rate that I received decades ago when I bought my first home.

Unfortunately the next part of this blessed situation is that the inventory of homes is still high. The inventory directly affects the price and strength or weakness of the housing market. If the inventory (amount of homes that are for sale) is high then following traditional economic theory the demand is low since there is so much to chose from. However, The inventory level of homes for sale in the Triad of NC is dropping. In the last year the inventory level has dropped by a third. There are news stories of builders switching from building new homes to building apartment buildings. So as the homes being sold are not replaced and there is not as much new construction coming onto the market the inventory will continue to fall. When the inventory reaches a level of six months the housing market in the Triad will begin to turn to a seller’s market and prices will start to rise. Now all indicators are leading towards this eventually coming to pass. There are no guarantees and frankly I personally threw out my crystal ball years ago. So while all we can see is the present and now is a very good time to buy a home.

LET US HELP YOU REDEFINE YOUR HOME SEARCH with our LIFESTYLEHOME SEARCH!

That’s right you can now find ANYTHING that matters to YOU in Greensboro, NC! You can now search for where your favorite coffee shops are (let’s say Starbucks) and then a 1/2 mile radius. Then how about a 4 bedroom & 2 bathroom home for less then $250,000 in town and let’s say I love to go to movies so show me a 1/2 radius around the movie theaters. Well VIOLA here you go!

This search will change everything about how you search.

You can now pull up data on schools, see school zones, you can tell what the student to teacher ratio is at that school. There is SOOOO MUCH data here you do not need to look ANYWHERE ELSE! Setup your own searches and save them email links of a search to someone else and they can see what you see. We will be coming back soon to tell you so much more.

Believe me I cannot pull this kind of information out of our agents system. So if you are looking for a home in the Greater Greensboro NC area you definitely need to search for your home here.

Home Buyers Don’t Miss The Boat!

That is right yet another blog about why you should buy a home now if you are even considering it. You need to understand the actual facts that are creating a “perfect storm” situation for buying a home.

First of all interest rates are at a historically low level. Just for an actual example I had a buyer (a young woman, a nurse) qualify and lock in her interest rate to buy a home at the amazingly low interest rate of 3.75%! I am sorry but my jaw dropped when I saw that email that we got her locked in for her mortgage at 3.75% FIXED RATE. That is right this is not an adjustable rate (which they will give you a low teaser rate for the first few years). The interest rates have not been this low in well over a quarter of a century. So if you think you are going to ride this out and then buy later you will most likely be paying a much higher interest rate. As I was speaking with a Vice President at a local bank last week he told me that I should get rid of any variable rate debt. In other words any debt that the interest rate is not fixed. They are saying that by 2013 the interest rates will be in the double digits which is over 10%. That means even if the market stays depressed you will be paying much more for that home over the course of your time in that home.

Secondly as we have all seen the housing market is still slightly depressed in the pricing sector. HOWEVER, remember that real estate is an EXTREMELY regional business. For instance our market here in Greensboro, NC is much better then say the market in Las Vegas, NV. Here in North Carolina most of our markets did not take such a bad hit as many of the nationally reported markets that the national news media love to report on. In relation to the housing market there is one factor that is rapidly changing the landscape. The inventory of homes for sale is dropping. It is very surprising how many homebuyers are flooding the market. I have spoken with agents & brokers all over from in our own market here in the Triad of North Carolina (Greensboro, High Point, Winston-Salem) and we are all surprised at how busy we are with so many buyers emerging over a short period of time. I have even hired extra agents to handle the influx of buyers.
Well all of these buyers are buying up the existing inventory of homes available for sale. Well for those students of economics (Thank you Dr. Bebensee my Economics Professor) this is effecting the Supply and Demand Curve. To put it simply as the supply goes down the demand will go up! So as the demand rises so will the prices.

In real estate how we determine when our market starts to turn is when our inventory levels are at a 6 month supply. Over a year ago we had over 15 months of inventory on hand. How we arrive at this figures is simply taking the number of homes sold in a given thirty day period and divide it into the number of homes presently for sale. Just to satisfy your curiosity we have less then 9.8 months of inventory. So just remember as that number continues to decrease the demand/price of homes will be affected.

The moral is: This “Perfect Storm” for homebuyers is coming to an end so don’t the boat!

So Do You Really Want To Sell Your Home?

I have been working with some buyers that would love to buy a “mini-farm” with some land and a barn for their horses.

Now granted that really narrows down the selection when you go from a 3 bedroom & 2 bathroom home to the same with at least 5 acres, pasture land, and a barn. Now in the same frame of mind as a seller of such a property you really narrow down your market share of buyers since many do not consider a horse a pet that that would like to keep at home. So with that in mind and if you had someone attempting to make an appointment to see your home would you consistently turn them down. My buyers have asked to see this home and we have tried on four separate occasions. We have given as much as 72 hours notice. Each time they have declined our appointment. Then on the last attempt the seller notified the appointment desk to tell us there will be no more appointments until otherwise notified. I have sent emails to the listing agent asking for an explanation or if the home is still for sale or not. Silence.

If you truly wish to sell your home you must make it as available for buyers to see as possible.

The appointment you turn down could have been the buyer you could have had that day. I cannot tell you how many times I have taken buyers out and when our showing appointments are declined (after giving at least 24 hour notice) the buyers take it as a sign that the sellers are not motivated to sell so they will not negotiate.

Set realistic showing instructions and for goodness sake NEGOTIATE

*If you are still living in the home you are selling then set realistic instructions for your agent and whomever is making appointments. Tell them how much time you need before any showing.

*Yes you will have those inconsiderate agents that will drive by your home and call as they sit out on the curb to see if they can view your home. Just be prepared for that.

*Just remember that if you ask for two hours notice straighten up then if you keep it clean you will not need to clean up.

*Don’t forget to negotiate hey it is real estate everything is negotiable. So if they want to come in one hour and you need more time ask if they can come in an hour and half. Do not just blindly turn away a potential buyer offer a compromise.

Let these buyers know you are motivated to at least open the doors to working out a mutually beneficial deal. As long as you keep the doors of communication open then the chances of you achieving your goals of selling your home have a greater chance of coming true.

This blog was first posted at http://totalcarerealty.net/so-do-you-really-want-to-sell-your-home/