Green Haven Gazette

Looking for buying and selling tips on real estate? Check out the Green Haven Realty Blog. We write posts on local real estate trends for Winston-Salem, Clemmons, Lewisville, Advance, Kernersville, Greensboro, High Point and surrounding Triad (NC) areas, as well as market reports for Forsyth, Davie, Davidson, Guilford, Yadkin and other Triad counties as well as Neighborhood Market Reports (If you don't see your neighborhood listed, just ask and we'll be glad to add it). Let us show you how the latest technology can make buying and selling your home easier and faster.

Sept. 21, 2022

Dividing Your Home in a Divorce: Do You Need an Appraisal?

It's never easy to face divorce, but it's even more difficult when you have children or are dealing with a large or inherited home. When dividing your home, both parties need to know all possible outcomes before anything is finalized. Take a look at everything you need to know about getting an appraisal for your home during a divorce.

Consult with an attorney when deciding to divorce

When facing the task of dividing your home in a divorce, it's important to remember that you and your ex should always consult with an attorney when deciding to divorce. Even though you may not want an attorney involved, they can help make sure that all of the necessary steps are taken to protect all parties involved. A good attorney will help you understand the following:

·        The entire legal process and how it works in your state.

·        The financial implications of divorce – how much money is needed for things like child support or alimony payments? In addition, they'll also be able to explain how assets were acquired during the marriage and determine if there are any prenuptial agreements or community property agreements that should be considered as well (if applicable).

·        The emotional implications aren't often discussed but can be one of the most difficult parts of ending a marriage or relationship because emotions run high, and people tend not to think straight at times like these.

An appraisal will give an accurate picture of how much your home is worth

When it comes to dividing your home as part of a divorce, an appraisal can give you an accurate picture of how much your property is worth. An appraiser will inspect the property and determine its market value based on data such as housing trends in the area, compare prices for similar homes in the neighborhood, and other factors.

Having this information available can be helpful when negotiating with your spouse over how much money should be exchanged for certain assets. It may also help you decide whether or not it makes sense to sell your home during this time.

Know how much the house will sell for – it will help you decide

Knowing how much the house will sell for can help you decide whether to keep it or not if that's one of your options during the divorce proceedings. If you want to keep the house, an appraisal can tell you how much it would cost to make necessary repairs on your property and help you determine whether staying in the home is truly worth it. However, if selling is a better option for you financially, an appraisal will tell exactly how much money a buyer would pay for it.

An experienced real estate agent can assist with buying a new home and selling your current one. However, they often charge a percentage of each deal made through them as compensation (which means more work).

Both you and your ex need to agree on the appraiser

You and your ex need to agree on the appraiser. The appraiser needs to be impartial, qualified, and trusted by both parties for them to make a fair estimate of the house's value. This means that an appraisal done by someone with a personal or professional stake in the property will not likely be accepted as valid by both parties.

It also helps if your chosen appraiser has lived in the area long enough that they can give you insight into home prices over time. New residents may not know what houses around yours typically go for because they're just too new there themselves.

Don’t forget to divide your home inventory

Besides dividing your home during a divorce, you will have to think about deciding which belongings each of you will take. Besides your personal belongings, you should sit down and talk about who gets the furniture, kitchen appliances, and other items in your home. Most likely, you will have plenty of things on your mind besides packing and moving your stuff. In case you haven’t found a new home yet, you should consider renting a self-storage unit. Many use this option during a move since it can help you prioritize and ease the moving process. Once you divide your home inventory between the two of you, make sure to create a list of things you want to pack and move.

Make sure you both have a legal counsel

Before you begin discussing the division of property, both parties should be legally counseled. A lawyer can help you understand your rights and options during this process. They can also make sure that both parties are fairly treated by the court.

If you’re looking for a good lawyer, ask friends or family for recommendations or look on reliable websites. You'll need to schedule an initial consultation so that your attorney can get to know you and your case. Don't be afraid to ask questions before trusting them with your future.

How to cope with moving after divorce?

Moving is a stressful time, and you want to make sure that everything goes smoothly. When moving during a divorce, the stress of the process can be on an even higher level. What you want to do during this time is to create a plan for an efficient relocation that will help you move on with your life. Professionals can assist with making moving more efficient and tasks like packing, transportation, and storage solutions. If you have a team helping you relocate to a new home, you’ll have more time to gather your thoughts and handle the pressure.

Conclusion

 

If you're going through a divorce and looking to get an appraisal on your home, many things need to be considered before dividing your home. Once you find an attorney who can guide you through the process of finding an appraiser, you should prepare documents for them to review. When diving your home in a divorce, make sure both parties agree with each other on who should do this task. Good communication will help you handle this process with as little stress as possible.

Posted in Appraisal
Sept. 14, 2022

How is the Winston-Salem Housing Market Currently?

Is the Winston-Salem Housing Market a Buyer's Market or Seller's Market?

  • Many buyers and sellers are curious about the status of the Winston-Salem housing market.  Are we still in a Sellers' Market? Or has it converted to a Buyers' Market?  Interest Rates have increased causing buyer demand to wane slightly.  So does that mean sellers are having to reduce their prices if they want to sell? There are many more price decreases than even three months ago, but that doesn't mean values are falling. The major issue is we still have a very low inventory of homes for sale.

    Buyers Market vs Sellers Market - Real Estate 

    Why the Winston-Salem Housing Market is Still a Sellers' Market

  • Check out the infographic below on why it's still a seller's market in Winston-Salem.

    Sellers Market in Winston-Salem remains in the Housing Market

    Some Highlights of the Winston-Salem Housing Market - September 2022

    • While buyer demand has moderated and housing supply has grown in recent months, it’s still a sellers’ market in the Winston-Salem area because inventory is low.
    • There were 319 active listings at the date of this post with 339 sales over the last 30 day period. This shows less than one month's inventory in Winston-Salem. That was an increase of about 6% from 318 sales for the previous 30-day period.
    • It takes about 6 months of inventory to be considered a balanced market. Anything over 6 months is generally a buyers' market.
    • The average list price for sales over the last 30 days was $347,929 with an average sales price of $349,445, which is about 0.5% over the average list price. The 30 days prior the average sales price was $345,071 or a 1.3% increase.  
    • Over the last 30 days, the average "days on market" before selling was 15 days. The prior 30-day period was 13 days.
    • If you want to be aware of the Winston-Salem Housing Market showing active listings, pending sales and closed sales, you can sign up for our free monthly market report here:  Sign Up for the Winston-Salem Housing Market Report
    • The latest data shows sellers continue to benefit from serious buyers and competitive offers. In July, the average home received 2.8 offers and 39% sold over the asking price according to the National Association of Realtors.
    • You haven’t missed your opportunity to sell. Work with a real estate professional from Green Haven Realty to start the process today.  Don't hesitate to contact us if you have any questions.  We're here to help!
Sept. 9, 2022

Moving to Winston-Salem Checklist

Winston-Salem is a city with a vibrant community that perfectly combines a rich history, fantastic art, and an entrepreneurial drive. It is perfect for those looking for a new start somewhere else. So, if you plan on relocating here, many things probably weigh on your mind. After all, moving to a new place is no easy task! This is why we have created a moving to Winston-Salem Checklist that will guide you to your new life in this beautiful city.

Get to know the Winston-Salem area

Like with every move, you must get acquainted with everything the new area offers. You should first know which neighborhood you'll call home in the near future. Lucky for you, Winston-Salem has a lot of lovely neighborhoods to choose from, from the ever-expanding Arcadia to the sophisticated West View. You will easily find the neighborhood that works for you based on your preferences. Afterward, it would be best if you got to know all the benefits of moving to Winston-Salem since these will work as a moving drive to push you through the stressful move. Moreover, they will make you (and your family) even more excited to relocate here.

Set up a moving budget

Now that you know more about the city you are moving to, it is time to get serious by creating a moving budget. Each move will differ based on the necessary funds and additional expenses it will take. For example, moving during the summer season will set you back more because an increasing number of individuals move during this time. Additionally, depending on your preference, you can move independently or with movers. Both of these options come with their specific expenses, such as fees of hiring a reputable company and unexpected damages your items may endure when you transport them yourself. You should consider all the possibilities and make a rough estimate to help you decide how much money you should set aside for your upcoming move to Winston-Salem.

Think of your transportation options

Depending on your preferred method of transporting your items, the next item on our moving to Winston-Salem Checklist will differ. If you are transporting items by yourself, you will need to rent a vehicle that will be able to accommodate your items (as well as yourself). This option may also entail a couple of trips to get every last item you wish to transport while safely moving your family along with you.

On the other hand, if you are planning a long-distance move to Winston-Salem, finding a reputable company to transport your items might be best. You will save yourself the hassle and worry about whether or not your belongings will get harmed throughout the relocation by hiring a team that can get you here safely. They will be able to protect your most valuable items and give you peace of mind to enjoy the trip to your new home in Winston-Salem safely.

Acquire a living arrangement that works for you

Finding a wonderful place to call home is crucial, and Winston-Salem offers various alternatives. Whether you want to buy or rent a home in Winston-Salem, you can choose the many expanding options available, from large-family homes to small loft apartments. Each of these will have different amenities to offer you (and your family), so be sure to research properly before moving to Winston-Salem. The median price of homes sits at $235,689, which is 40.6% less than the national average of $355,852. The costs of renting and purchasing are relatively affordable when you consider Winston-Salem's impeccable location and the state of the housing market at the moment. 

Ease your children into the upcoming move to Winston-Salem

It is best to start early when easing your children into the upcoming move to Winston-Salem. You will need to change your approach depending on your children's age and personality. Try to get them excited about the move and focus on the positive changes it will bring. However, most children will benefit from additional time spent with them. Although you should talk about the upcoming move, that doesn't mean it should be the only thing you talk about.

To give them the attention they require before this stressful change in their everyday lives, you can go on more family walks, do more bedtime stories, and do other similar activities your children enjoy. Answer any questions they may have and pay attention to their behavioral patterns. If you notice issues such as bad attitudes, bed wetting, and other irregular behaviors, consult with experts that can help give them the best chance at a great move to Winston-Salem.  

Choose essential service providers in Winston-Salem

To have everything set up for you before moving to Winston-Salem, you must consider the various essential service providers that may need to be changed or updated. For example, you will need to change your address regarding your insurance and find new doctors and veterinarians you can turn to when you need help. If you plan to receive your packages in the mail at your new residence, your subscription services will also need to be modified. Before moving to Winston-Salem, you should pay special attention to your daily services and update them accordingly.

Declutter and pack for your move to Winston-Salem

The last step on our moving to Winston-Salem Checklist is packing for your move. This process can be substantially accelerated and improved if you declutter beforehand. Make sure you only take the items you wish to keep with you instead of spending money and time transporting them. Furthermore, to make the task even more straightforward, start packing early. We suggest first packing items that will not be used until your move and gradually packing the remainder of your belongings. Moreover, you could pack your belongings in boxes based on the room they belong in to make it easier for you to unpack when you're safe and sound in Winston-Salem. And with this step finished, if you've worked with trusted realtors, you are close to arriving at the home of your dreams and starting a new life in the wonderful Winston-Salem.

 

Aug. 29, 2022

Top 10 Reasons to Move to Winston-Salem

There are many reasons to move to Winston-Salem. So, if you look forward to finding a home in North Carolina, this guide is just what you need. By moving to this thriving city, you are ensuring a comfortable and vibrant lifestyle at the same time. There’s so much to see and do. Plus, the costs of living in Winston-Salem are easy to keep in check.

 

1 - Employment

Winston-Salem is one of the cities in NC with a high employment rate. Rest assured, it won’t be challenging to land a high-paying job. However, keep in mind that some professions tend to be more competitive than others. That being said, make sure to solve your job situation before moving.

 

2 - Safety

As one of the safest cities in NC, Winston-Salem is very livable. Since it’s an excellent NC place to raise a family, young parents often move here. 

 

3 - Affordable living and housing

In comparison with the majority of NC cities, Winston-Salem is quite affordable. In fact, it’s also one of the most affordable places to live in the US. You can get quality groceries, clothes, and other products at much lower prices. Housing is also affordable to the point it’s possible to own a home. However, remember that investing in real estate is a long-term project. Whether you’ll buy or rent a home in Winston - Salem depends upon your future plans. 

It’s wise to consult professional realtors before you start looking for a home. Although the housing market in Winston-Salem is affordable, you’ll need proper guidance. The best home isn’t the one you’ll find overnight. Aside from appearance, you have to make sure everything in a home you’re interested in works well.

 

4 - Arts and entertainment

The art scene is another aspect that makes Winston-Salem so unique. Amazing street art murals and galleries are easy to find and frequently visited by art admirers. Winston-Salem is an unofficial art city of North Carolina for a good reason. After you visit the Southeastern Center of Contemporary Art, you can transition to a festival, for instance. If you’re a fan of classic rock combined with car race events, you’ll enjoy every minute of the Heavy Rebel Weekender Music Festival.

Have professional movers handle your relocation

Make sure to find the right team of movers who will ensure a stress-free NC interstate relocation from start to finish. The companies you should consider are the ones that hold licenses and have a unique USDOT number. Any company that isn’t fully registered isn’t worth your time.

 

Here are quick and effective steps to finding the right company:

 

  1. Bookmark the websites of companies that have a variety of moving, packing, and storage services. Don’t forget to check if they’re registered and licensed.
  2. Contact each company during their working hours. Have their website open while asking them about services and price points. Make sure what you see is what you would get by hiring that particular company.
  3. Get up to four free moving estimates.
  4. Take all information and estimated costs into consideration and decide which company is the best one.

 

If you’re in a rush to hire a good mover…

There are moving company databases that save you lots of time. Thanks to moving experts like the ones at bestcrosscountrymovers.com, it’s easy to find a suitable moving company. At the same time, you’ll dodge any scam company that tries to sell you fake services and drain your budget. All you have to do is fill out the form and wait for a list with the movers that can get all the work done for you.

 

Nightlife in Winston-Salem is an experience in itself. Beer lovers will enjoy craft breweries and pubs packed with laid-back people.

 

5 - Cultural diversity and acceptance

 

People of all cultural backgrounds can call Winston-Salem their home. Plus, people are very liberal and generous. Hence why young professionals, retirees, and basically people of all age groups come here.

 

6 - Outdoors

Hiking, climbing, and camping are favorite outdoor activities among the residents of Winston -  Salem. If you are one of them, be sure you’ll spend every sunny weekend somewhere in nature:

 

      Pilot Mountain is where you go on a hike with a good camera. From there, you can enjoy and capture amazing views. It takes you up to 30min drive from Winston - Salem to get there.

      Grandfather Mountain is where you go climbing.

      Hanging Rock might be your favorite if you want a combination of hiking, camping, kayaking, and swimming in the lake.

 

 

 

7 - Excellent education

The city is also home to Wake Forest University, Salem UniversityNorth Carolina School of the Arts, and many other prominent educational institutions. Education is one of Winston-Salem’s strongest assets that inspire families to move. Top-level professionals teach kids in lower grades, and a high rate of High-School graduates continue to college.

 

 

8 - Entrepreneurship

Did you know that North Carolina cities are entrepreneur-friendly? If you happen to be someone with a business plan, you can launch it in Winston-Salem. The market is both strong, diverse, and welcoming to fresh innovations. It’s one of the reasons to move to Winston-Salem if you’re an aspiring business owner.

 

 

9 - Active lifestyle

Another distinctive trait you’ll notice in Winston-Salem is that almost everybody enjoys a wide array of activities. Sports, the outdoors, and an active lifestyle, in general, are what people simply enjoy. The fact is that people in Winston-Salem are among the healthiest in NC and beyond.

 

10 - Coffe shops and restaurants

You’ll definitely find your favorite coffee spot and a restaurant in Winston-Salem. The coffee is good, the food is super tasty, and the service is chef's kiss.

Moving to Winston-Salem is worth it

As you’re packing for the move, take time to remind yourself of the reasons to move to Winston-Salem. That way, you’ll stay focused and keep your motivation up. Moving can be an exhausting endeavor at times, especially if you have lots of duties to handle at once. When you know what to expect from a place you’re moving to, relocation tasks become less dreadful. Moreover, your move starts to seem like an adventure that will become a fond memory.

Aug. 8, 2022

Housing Market Forecast for the Rest of 2022

What Will the Housing Market Be Like for the Remainder of 2022?Housing Market Forecast for the Rest of 2022 [INFOGRAPHIC] | Keeping Current Matters

Some Highlights

Aug. 4, 2022

Buying vs. Renting a Home in Winston-Salem

Does Buying a Winston-Salem Home Make More Sense than Renting?

Buying vs Renting a Home in Winston-Salem

 

If rising home prices leave you wondering if it makes more sense to rent or buy a home in today’s Winston-Salem housing market, consider this. It’s not just home prices that have risen in recent years – rental prices have skyrocketed as well. As a recent article from realtor.com says:

“The median rent across the 50 largest US metropolitan areas reached $1,876 in June, a new record level for Realtor.com data for the 16th consecutive month.”

That means rising prices will likely impact your housing plans either way. But there are a few key differences that could make buying a home a more worthwhile option for you.

If You Need More Space, Buying a Winston-Salem Home May Be More Affordable

What you may not realize is that, according to the latest data from realtor.com and the National Association of Realtors (NAR), it may actually be more affordable to buy than rent depending on how many bedrooms you need. The graph below uses the median rental payment and median mortgage payment across the country to show why.  The Winston-Salem median rent is $1,795 according to the Zillow Rental Manager.

Buying a Home May Make More Financial Sense Than Renting One | Keeping Current Matters

As the graph conveys, if you need two or more bedrooms, it may actually be more affordable to buy a home even as prices rise. While this doesn’t take into consideration the interest deduction or other financial advantages that come with owning a home, it does help paint the picture that it may be more affordable to buy then rent for that unit size based on nationwide averages. So, if one of the factors motivating you to move is a desire for more space, this could be the added encouragement you need to consider homeownership.

Homeownership Also Provides Stability and a Chance To Grow Your Wealth

In addition to being more affordable depending on how many bedrooms you need, buying has two other key benefits: payment stability and equity.

When you buy a home, you lock in your monthly payment with your fixed-rate mortgage. And that’s especially important in today’s inflationary economy. With inflation, prices rise across the board for things like gas, groceries, and more. Locking in your housing payment, which is likely your largest monthly expense, can provide greater long-term stability and help shield you from those rising expenses moving forward. Renting doesn’t provide that same predictability. A recent article from CNET explains it like this:

“…if you buy a house and secure a fixed-rate mortgage, that means that no matter how much prices or interest rates go up, your fixed payment will stay the same every month. That’s an advantage over renting since there’s a good chance your landlord will raise your rent to counter inflationary pressures.” 

Not to mention, when you buy, you have the chance to build equity, which in turn grows your net worth. It works like this. As you pay down your home loan over time and as home values continue to appreciate, so does your equity. And that equity can make it easier to fuel a move into a future home if you decide you need a bigger home later on, or an investment property to grow your wealth even more. Again, the CNET article mentioned above helps explain:

Homeownership is still considered one of the most reliable ways to build wealth. When you make monthly mortgage payments, you’re building equity in your home that you can tap into later on. When you rent, you aren’t investing in your financial future the same way you are when you’re paying off a mortgage.”

Green Haven Realty Helps Winston-Salem Home Buyers

If you’re trying to decide whether to keep renting or buy a home in the Winston-Salem area, work with trusted real estate professionals to explore your opportunities. With home equity and a shield against inflation on the line, it may make more sense to buy a home if you’re able to. 

Check out the book our owners, Tony & Kim Green, have authored and are offering it our readers for free at the link below.

FREE Real Estate Book:  THE COMPLETE GUIDE TO BUYING A HOME

Inside Home-Selling Tips

Don't hesitate to call/text Green Haven Realty today at 336.462.9544 to evaluate your options.  We're here to help!

July 29, 2022

Expenses to Expect When Selling Your Winston-Salem Home

What Expenses Will I Pay When Selling My Winston-Salem Home?

Expenses When Selling Your Winston-Salem Home

Since buying a home is a significant investment, not everyone can afford their dream home from the very beginning. Thus, many choose to invest in a starter home and only later start looking for their forever home. And this is perfectly normal. Nevertheless, once you decide to sell your current home, the excitement can make you blind to some of the crucial aspects. You start dreaming of your future home and fail to properly consider what selling entails. For example, you must know what expenses to expect when selling your Winston-Salem home. Otherwise, you might miscalculate the amount you can invest in your future home. So, let’s break down the costs of selling a home.

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July 25, 2022

Are Winston-Salem Home Values Increasing?

What’s Causing Ongoing Winston-Salem Home Price Appreciation?

If you’re thinking about making a move , you probably want to know what’s going to happen to home prices for the rest of the year. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected. That means home prices won’t fall. Here’s a look at two key reasons experts forecast continued price growth: supply and demand.What’s Causing Ongoing Home Price Appreciation?

While Growing, Housing Supply Is Still Low

Even though Winston-Salem housing inventory is increasing this year as the market moderates, supply is still low. The graph below helps tell the story of why there still aren’t

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July 6, 2022

Selling an Inherited Home in Winston-Salem

Can I Sell My Inherited Property in Winston-Salem?

Inheriting a property does not happen every day. In fact, such an inheritance might seem like a dream come true.  If you are interested in selling the inherited property in the Winston-Salem area, you of course are wondering if you can sell it.  The short answer is "yes", but the legal and financial responsibilities make selling an inherited home quite challenging.  Each county in North Carolina is a little different, and Forsyth County has its own probate processes for estatesThis is compounded by the fact that most people have no previous knowledge or experience with selling an inherited property. Of course, having a certified probate expert on your side definitely

Selling an Inherited Home in Winston Salem, NC

helps.  The bottom line is the inherited property cannot be sold until ownership has conveyed to the heirs during the probate process. However, it is still vital that you are aware of the potential intricacies, benefits, tax consequences, and pitfalls that make up the process of selling an inherited home. Read on to find out more. 

 

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June 29, 2022

Should You Get An Appraisal on Inherited Property?

Is an Appraisal Required for Inherited Property in North Carolina?

 Is an Appraisal Required for Inherited Property

If you have inherited real estate, you probably have many questions regarding the property.  Should I keep it?  Should I sell it?  What's it worth? And so forth.   If you're an Executor in North Carolina handling an estate that has a home or other real estate, it's most likely the most valuable asset within the estate. It's your responsibility to know what it's worth, for several reasons: to report a taxable gain or loss on the eventual sale; for an inventory, if the estate goes through probate; and to fairly divide estate assets among heirs and/or beneficiaries, if that's what the will called for.

One important question you will have is "should I get an appraisal?"  Well, generally speaking, a real estate appraisal is not required when you inherit property.  However, it's highly recommended that you have an appraisal completed for two primary reasons. 

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