Greensboro Triad Real Estate Blog

Slow Market Where is That?

Here in Greensboro, NC personally I am very busy.  I have gotten NINE new buyers in the last two weeks.  Of those nine buyers in the last two days I have written three offers.  We are still negotiating on all three. I am going out tomorrow with another one of the nine to pick the home they want to put an offer on.  It is without a doubt a good time to buy in regards to the mortgage industry.  Many home prices are way down because of the present market also.   I also have new listings coming up as well.  I have three short sales that have now broken loose and are moving toward closing.  One has gotten final approval and two others are close to final approval.  

So as we discuss "Down Markets" or trends are you really doing everything you can do bring in business?  Are you looking in the right area? Seriously folks there are PLENTY of buyers out there you just need to look in the right places.

Greensboro, NC home Sales JUMP by 70%.  According to the Triad area MLS the sale of existing single-family homes went up by 70%.  A total of 515 homes were sold in November in Greensboro, NC.  In 2008 the same month only 303 homes were sold.  The average price of those homes also went up slightly from Octobers average of $149,582 to $150,135.  The biggest rise was from November 2008 average of $128,269 to this years average of $150,135.

I do know that personally my first time home buyers did step up to the plate and either bought a home or tried to.  I did have two home buyers get cut off by the FHA raising their guidelines.  I am concerned now that I have heard that the FHA is also going to raise the buyer contribution to 5% instead of the 3.5% that is now the limit. 

So fellow activerainers how is your market doing?

The Author:

Larry is a Greensboro Residential Broker, CARTUS Certified Relocation Specialist, Previews luxury homes trained, SRES & CHMS who can assist you with the purchase and/or sale of real estate in the Piedmont Triad Area that include but, not limited to Greensboro, High Point, and Winston Salem, NC.  If you’re relocating to or from any other area of the country, Larry connects you with a member of our national team of relocation specialist in your destination or exit city of choice.  The destination service is of no cost to you!  As your Personal Concierge Realtor Larry provides customer service that is equal to none.  Your complete happiness is our top priority!  Larry Story — Coldwell Banker Triad Realtors — 336-327-1841 also at http://www.storybookhomes.ws

Copyright© 2009 By Larry Story, All Rights Reserved…

  I don't know about the business weather where you are but, I know yesterday it felt like the proverbial heavens opened up and the business just fell like Rain!  I will admit that the day did start off good.  I had a showing with an investor first thing.  We met and as soon as I saw it I knew he would want this one. You know the diamond in the rough.  A foreclosure that had a tax value of $131,000 and a list price of $85,000!  Plus there is nothing really wrong with the home.  So now I had an offer to prepare and he was to speak with the bank to get the pre-approval letter. He wanted to deal with his bank but, did not know anyone there.  I made a call to a past client that worked for his bank.

I had a closing so we had a final walk through scheduled.  The walk through went fine and then we started down a slippery slope to closing.  Everything seemed fine since I had the HUD at 9 that morning and then at 11:00 I get a call from the seller (FSBO) that the attorney said we were not closing till next week. 

Well of course I am furiously calling everyone.  It seems the "lender" never ordered the title from the attorney.  Well my attorney is on the ball so the title work had already been done.  So all he had to do was send over a request and they would send it to him.  Then POOF we are back on track.  Then OOPS the HUD was wrong which they did not notice until 20 minutes before closing.  Now of course I also get a call from one of our fellow Activerainers and they have two more listing referrals for me!  So we get the HUD finished push back the closing an hour and finally get closed.  I rush to the office to get on the computer.  I start sifting through all the emails.  OK there is my referrals, and there is another email from an unknown.  It seems one of my past clients has been busy working on my behalf. He has referred another couple to me to sell their home and buy another.  So presto three listings and a buyer.  I also have two more new buyers from other online sources.   OK now I am trying to shift myself into high gear to keep up. 

So today as I head out to hit the ground running I am wearing my business raincoat for I am going to be prepared to be optomistic and pray that this business rain continues!