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.

Nov. 11, 2022

VA Loans Help Veterans Buy a Home

VA Loans Help Winston-Salem Veterans Buy a Home

For over 78 years, Veterans Affairs (VA) home loans have provided millions of veterans with the opportunity to purchase homes of their own. If you or a loved one have served, it’s important to understand this program and its benefits.

Here are some things you should know about VA loans before you start the homebuying process in Winston-Salem and surrounding areas like Advance, Clemmons, Lewisville, Kernersville, King, Mocksville, Pfafftown, and Yadkinville, North Carolina.

VA Loans Help Veterans Buy a Home

What Are VA Loans?

VA home loans provide a pathway to homeownership for those who have served our nation. The U.S. Department of Veterans Affairs describes the program like this:

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Nov. 2, 2022

What Home Sellers Should Know About Choosing a Listing Agent

 

What Winston-Salem Home Sellers Need to Know About Choosing a Listing Agent

If you plan to sell your Winston-Salem home for top dollar, you'll want to hire a listing agent. A listing agent (or sometimes called seller’s agent) represents home sellers and helps them get their houses on the market. You may wonder what the difference between a listing agent and other real estate agents is – and how they can help you sell your home quickly and for top dollar. The truth is that there are many kinds of agents out there, each with different specialties and strengths. But in this article, we'll focus on what makes a great Winston-Salem listing agent and the criteria for choosing a listing agent for yourself!

Sellers signing listing agent agreement

A good listing agent has great listening skills to make sure he/she understands your needs and concerns

What does a Winston-Salem listing agent do?

A listing agent is a REALTOR responsible for selling your home. A listing agent will list your home for sale, market it to potential buyers, and negotiate the sales price, terms, and conditions with the buyer or buyer’s agent. Generally, once you choose a listing agent, you will normally sign an exclusive listing agreement.  When selling your Winston-Salem home, that would be an Exclusive Right to Sell listing agreement from the North Carolina Association 

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Sept. 21, 2022

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

Do You Need an Appraisal Going Through Divorce?

Do I need an appraisal in divorce?

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.

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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

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.

Winston-Salem sky line at night

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 Historic Ardmore to the sophisticated Buena Vista. 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)

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Aug. 29, 2022

Top 10 Reasons to Move to Winston-Salem

Top 10 Reasons to Move to Winston-Salem, NC

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.

Winston-Salem, NC skyline at night

 

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

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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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