Winston Salem | Good Real Estate Agents: What Makes Them Exceptional

As a long time agent, I often research what my clients feel are great traits to have to be a great agent.   I strive always to follow these guidelines.  

Good Real Estate Agents: 

What Makes Them Exceptional Introduction A good real estate agent plays a critical role in helping buyers and sellers navigate one of the most important financial decisions of their lives. Beyond simply showing homes or listing properties, great agents combine expertise, integrity, communication skills, and a genuine commitment to client success. Their impact can shape a client’s confidence, reduce stress, and ultimately lead to better outcomes.

Professional Knowledge and Expertise 

Strong real estate agents possess a deep understanding of their local market. They track trends in pricing, inventory, neighborhood growth, and economic factors that influence real estate values. This knowledge allows them to provide accurate guidance, whether they are helping sellers set the right listing price or advising buyers on competitive offers. They also stay current with laws, contracts, and industry regulations, ensuring transactions are both legal and ethical. 

Excellent Communication Skills Communication 

This is  at the heart of real estate. Good agents listen carefully to their clients’ needs, preferences, and concerns. They ask thoughtful questions, offer clear explanations, and keep clients informed at every stage of the process. Because real estate decisions can be emotional and time‑sensitive, responsive communication builds trust and reduces anxiety. Whether negotiating on behalf of a client or coordinating with inspectors, lenders, and attorneys, skilled communication often determines the success of a deal. 

Strong Negotiation Abilities 

Real estate transactions involve negotiation at nearly every step. Effective agents advocate for their clients with confidence, professionalism, and strategic thinking. For buyers, this may mean securing a fair purchase price or negotiating repairs. For sellers, it may involve evaluating offers and ensuring favorable terms. Great agents balance firmness with fairness, always aiming to achieve the best possible outcome without jeopardizing the transaction. 

Integrity and Client‑Centered Values Trustworthiness is essential. 

Good agents prioritize their clients' best interests over quick sales or personal gain. They provide honest advice, even when it means delivering difficult truths—such as recommending a lower listing price or advising against a risky property. Ethical behavior, transparency, and reliability help clients feel secure in their decisions and build long‑term professional relationships. 

Problem‑Solving and Adaptability Real estate deals rarely unfold without challenges. Inspection issues, financing delays, appraisal discrepancies, and shifting market conditions all require calm, creative problem‑solving. Skilled agents anticipate potential obstacles and offer solutions that keep the transaction on track. Their adaptability makes the process smoother for clients, even when unexpected situations arise. 

Conclusion 

Good real estate agents are much more than salespeople—they are advisors, negotiators, communicators, and advocates. Their expertise and dedication help clients navigate complex transactions with confidence. By combining knowledge, professionalism, and genuine care, exceptional agents make the real estate experience more efficient, less stressful, and ultimately more rewarding.

Winston Salem | What are Key Factors In Selling Your Home?

 Selling a home is part strategy, part psychology, part timing. Here are the key factors that actually move the needle, broken down simply:

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1. Price it right (this is the big one)

• Homes priced correctly from day one sell faster and for more money.

• Overpricing usually leads to fewer showings → price cuts → buyers sensing weakness.

• Good pricing is based on recent comparable sales, not what you hope to get.

Short answer: The market sets the price, not the seller.

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2. First impressions matter—a lot

Most buyers decide how they feel within seconds.

• Curb appeal: clean yard, fresh mulch, tidy entry

• Declutter: less stuff = bigger-looking rooms

• Neutral, clean, well-lit spaces photograph and show better

Think: “Could a stranger picture their life here?”

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3. High-quality photos & marketing

• Professional photos are non-negotiable.

• Strong listing descriptions highlight benefits, not just features.

• Online presence matters more than open houses for most buyers.

If buyers don’t click, they never visit.

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4. Location (you can’t change it—but you can frame it)

Buyers care about:

• Schools

• Commute

• Neighborhood vibe

• Nearby amenities

A good agent or listing emphasizes lifestyle advantages, not just square footage.

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5. Condition & repairs

You don’t need a full renovation, but:

• Fix obvious issues (leaks, broken fixtures, peeling paint)

• Small updates often bring strong returns

• A pre-list inspection can prevent deal-killing surprises

Clean > new, almost every time.

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6. Timing & market conditions

• Spring and early summer usually bring more buyers.

• Interest rates, inventory levels, and local demand affect leverage.

• In hot markets, speed and competition matter; in slower ones, patience and flexibility do.

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7. Negotiation & flexibility

Winning offers aren’t just about price:

• Financing strength

• Contingencies

• Closing timeline

• Willingness to help with repairs or credits

Sometimes the cleanest offer beats the highest one.

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8. The right agent 

A strong agent:

• Prices realistically

• Markets aggressively

• Manages emotions (yours and the buyer’s)

• Knows how to negotiate under pressure

A weak one costs time and money.

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Quick takeaway

If you remember only four things:
Price it right. Present it well. Market it hard. Negotiate smart.

If you want, tell me:

• Are you selling soon or just researching?

• Is this your primary home or an investment?
  I can tailor this to your situation (or even help you prep a seller checklist).

Winston Salem| How Much Does Rate Cut Effect Mortgage Payments

 

A rate cut lowers interest rates set by a central bank, which eventually lowers mortgage rates offered by lenders. How much this affects monthly mortgage payments depends on:

✅ 1. Whether you already have a mortgage

Fixed-rate mortgage

• No immediate change. Your payment stays the same.

• You only benefit if you refinance into a new mortgage at a lower rate.

Adjustable-rate mortgage (ARM)

• Payments drop automatically when your rate resets—if the benchmark index falls due to the rate cut.

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✅ 2. How much payments change for new mortgages

For new loans, even a small rate change can have a noticeable impact.

Rule of thumb

Every 1% change in mortgage rate changes the monthly payment by about 10% (for a 30-year loan).

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📊 Example: Effect of a 1% rate cut

Loan: $400,000, 30-year fixed

Rate	Monthly Payment
7%	$2,661
6%	$2,398

Savings from a 1% cut: ~$263 per month
Annual savings: ~$3,156
Lifetime interest saved: ~$94,000+

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📉 Smaller rate cuts

Impact scales roughly linearly:

0.25% (¼-point) cut

• Lowers payment by ~2.5%

• On a $400k loan: ~$60–70/month savings

0.50% (½-point) cut

• Lowers payment by ~5%

• On a $400k loan: ~$120–140/month savings

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Advance NC. Brand New Townhome Offered For Rent

 

BRAND NEW 3 bedroom, 2.5 bath townhouse available 10/22//2025. This townhome features luxury vinyl plank flooring throughout the main level. Open floorplan offers a spacious kitchen with granite counters, lots of cabinets and counter space and a huge island and a large family room. Upstairs you will find a Primary ensuite, loft perfect for office or lounge area, full bath and 2 additional bedrooms. Once car garage. Refrigerator, washer and dryer furnished. Utilities are the responsibility of lessor. Pets are conditional and all applicants must do online application. In addition, pet screening app is required even if you do not have one. Prescreening is free unless a pet us being considered.

Priced at $1795 a month

Winston Salem | More Information About Due Diligence

What is the Due Diligence Period? 

It is an agreed-upon period of time during which the buyer can investigate the property and the transaction contemplated by the contract, terminate the contract for any reason or no reason, and receive a refund of any earnest money deposit. 

How long should the Due Diligence Period be? 

The length of the Due Diligence Period is entirely negotiable between the buyer and seller. There is no “standard” Due Diligence Period. The Due Diligence Period should be of sufficient length to permit buyer: 

• to conduct any desired inspections/investigations of the property. 

• to complete any negotiations for repairs/improvements in which the seller may be willing to engage.

 • to pursue qualification for any loan the buyer may obtain, taking in to account the time needed for an appraisal to be completed and for the lender to provide sufficient information for the buyer to decide whether to proceed with or terminate the contract. 

 • to be reasonably satisfied that closing on any other property the buyer needs to sell in order to qualify for a new loan or to otherwise complete the purchase of the seller’s property will take place prior to the Settlement Date of the Contract with the seller. 

 The length of the Due Diligence Period is also typically influenced by the amount of the Due Diligence Fee.

Is there still a Due Diligence Period if the Due Diligence Fee is zero or there is an “N/A” inserted in the blank? 

Yes. There is nothing in Form 2-T that makes the buyer’s right to conduct Due Diligence dependent on the payment of a Due Diligence Fee 

Paragraph 1(i) of the contract contains a waiver by the seller of any right to deny the buyer’s right to conduct Due Diligence based on the fact that the buyer hasn’t agreed to pay a Due Diligence Fee.

Who is responsible for the costs of investigating the property? 

The buyer is responsible for all costs associated with pursuing qualification for any loan and the costs of any desired tests, appraisals, investigations, examinations, and inspections that the buyer deems appropriate, including costs of inspecting any repairs/improvements that the seller may agree to make.

Responsibility for any costs associated with putting a pool/spa in operable condition so that it may be properly inspected, and any costs associated with any necessary re-winterizing of the pool/ spa following any inspection(s), may be agreed on by the parties. 

What if the buyer is not satisfied with the results of their investigation? 

If the buyer is not satisfied with the results of the buyer’s Due Diligence or the progress of repair/ improvement negotiations, the buyer is strongly advised, before the end of the Due Diligence Period, to enter into a written agreement with the seller to extend the Due Diligence Period or terminate the contract. 

 Form 4-T may be used to extend the Due Diligence Period. Form 350-T (or 351-T for vacant land) may be used to terminate the contract. 

The seller is under no obligation to extend the Due Diligence Period. Time if “of the essence” regarding the expiration of the Due Diligence Period. 

If the buyer elects to terminate the contract, it is very important that written notice of termination be delivered to the seller/listing agent before 5 PM on the last day of the Due Diligence Period.

Winston Salem | How do the NAR practice changes impact home sellers?

 

• The practice changes empower consumers with additional choice and transparency when selling a home.
• As a seller, you still have the choice of offering compensation to buyer agents. You may consider doing this as a way of marketing your home or making your listing more attractive to buyers.
• Your agent must clearly disclose to you and obtain your approval for any payment or offer of payment that a listing agent will make to another agent acting for buyers.
• This disclosure must be made to you in writing in advance of any payment or agreement to pay another agent acting for buyers and must specify the payment amount or rate.
• If you choose to approve an offer of compensation, there are changes to how it can be communicated—your agent cannot include it on an MLS.
• Your agent can advertise your listing via off-MLS platforms such as social media, flyers, and websites.
• You as the seller can still offer buyer concessions on an MLS (for example, concessions for buyer closing costs).
• Compensation for your agent remains fully negotiable and is not set by law, and if your agent is a REALTOR®, they must abide by the REALTOR® Code of Ethics and have clear and transparent discussions with you about compensation.
• When finding an agent to work with, ask questions about compensation and understand what services you are receiving.
• Agents who are REALTORS® are here to help you navigate the home selling process and are ethically obligated to work in your best interest. 

When can I get a writ of possession after a tenant appeals the eviction order?

At Carolina Living Real Estate, we are always trying to educate our clients on various real estate subjects.  Below is a good one for property owners to understand.   As always, you can call us to discuss anything.  

 Below is an article posted on the Realtor website.

QUESTION: I run a property management company and we just won a summary ejectment case in front of our local magistrate. The tenant gave notice of appeal and I have received some information saying that I cannot get the tenant out until after the appeal is heard before a district court judge. How long will we have to wait and can’t I at least get some money for my client while we wait?

ANSWER: Congratulations on representing your landlord client successfully in court! The documents you received in the mail, following the tenant perfecting the appeal, were probably a copy of the order granting summary ejectment, the notice of appeal to district court, and the bond to stay execution on appeal of summary ejectment, which you can view here.

First, unlike the process in small claims court, an appeal to district court is a bit more formal. Generally, only attorneys or individuals appearing on their own behalf can appear in district court to argue the case. The district court will be more formal in receiving evidence by requiring the admission of documents and the formal examination of witnesses. Lastly, some counties do not automatically set the date for the appeal to be heard and an attorney or either the plaintiff or defendant will have to contact the trial court administrator and follow the local rules of court to request and set a date for hearing the appeal. While either party can request that the appeal be heard at the first session of court after the appeal is docketed, it can be quite some time before the court will have time to hear the matter.

In the meantime, if you read the fine print on the bond form you received, you will see that there are three requirements for a tenant to remain in possession pending the appeal. First, all defendants named in the summary ejectment action had to sign the bond and promise to pay rent to the clerk of court as it becomes due. Second, the defendants must pay the undisputed past-due rent to the clerk. Third, if there are more than five days left before the end of the rental period at the time the summary ejectment was ordered, the tenants will have to pay the prorated rent for the remainder of the month to the clerk.

Most importantly, the final paragraph on the bond form requires tenants to make payment of all future rents within the first five business days of each month. While the rent will be paid to the court, an attorney representing the landlord can make application for release of undisputed rents paid to the clerk pursuant to N.C.G.S. Section 42-34(e), found here. If the tenant fails to pay the rent by the end of the fifth business day each month, the landlord may request the clerk to issue the Writ of Possession Real Property form, linked here. If that writ is issued prior to the tenant making the monthly rental payment, the Sheriff can schedule the lockout. While the tenant will still have the right to argue the appeal, the issue of possession will no longer be pending, as the tenant failed to abide by the promises made under the bond.

© Copyright 2022 - 2024. North Carolina Association of REALTORS®, Inc.

This article is intended solely for the benefit of NC REALTORS® members, who may reproduce and distribute it to other NC REALTORS® members and their clients, provided it is reproduced in its entirety without any change to its format or content, including disclaimer and copyright notice, and provided that any such reproduction is not intended for monetary gain. Any unauthorized reproduction, use or distribution is prohibited.

What Happens When More Homebuyers Skip Inspections In Winston Salem?

 Carolina Living Real Estate is Here to Help.  This has become a problem and our job is to talk through all your options!

Winston Salem | What Every Seller Needs To Know About Renovating This Year

 

%4.5 Max Listing Commission ALL the time!

If you’re planning to sell this year, you’re probably thinking about what you’ll need to do to get your house ready to appeal to the most buyers. It’s crucial to work with a trusted real estate professional who knows your local market to get your home ready to sell. But there are a few things you should consider when deciding what to renovate and update before listing this season. Here are three things to keep top of mind as you’re making your list of projects to tackle this year.

1. The Number of Homes for Sale Is Very Low

Housing inventory sits far below what is normally considered a balanced market. In fact, according to the National Association of Realtors (NAR), the latest data indicates inventory is hitting an all-time low. Because there’s such a limited supply of homes available for sale, you’re in a unique position when you sell your house to benefit from multiple offers and a quick process.

But you want to do so while buyers are still scooping homes up as fast as they’re being listed. Spending time and money on renovations before you sell could mean you’ll miss your key window of opportunity. Of course, certain repairs may be important or even necessary. The best way to determine where to spend your time – and your money – is to work with a real estate advisor to confirm which improvements are truly needed and which ones aren’t likely to be deal-breakers for buyers.

2. Buyers May Be Willing To Take on Projects When They Purchase Your House

Today, many buyers are more willing to take on home improvement projects themselves to get the house they’re after, even if it means putting in a little extra work. A recent survey from Freddie Mac finds that:

“. . . nearly two-in-five potential homebuyers would consider purchasing a home requiring renovations.”

If more buyers are willing to tackle repairs on their own, it may be wise to let the future homeowners remodel the bathroom or the kitchen to make design decisions that are best for their specific taste and lifestyle. Depending on the structural condition of your house, your efforts may be better spent working on small cosmetic updates, like refreshing some paint and power washing the exterior to make sure the home stands out. Instead of over-investing in upgrades, the buyer may change anyway, work with a real estate professional to determine the key projects to tackle that will give you the greatest return on your investment.

3. Your Agent Will Help You Spotlight the Upgrades You’ve Made

Over the past year, many people made a significant number of updates to their homes. The most recent State of Home Spending report finds:

“Home improvement spending rose 25% year-over-year to $10,341. Homeowners who invested in home improvement did an average of 3.7 projects, up from 2.7 in 2020, . . .”

With more homeowners taking on more projects in the past 12 months, there’s a good chance you’ve already made updates to your home that could appeal to buyers. If that’s the case, your real estate advisor will find ways to highlight those upgrades in your listing.

The same is true for any projects you invest in moving forward. No matter what, before you renovate, contact a local real estate professional for expert advice on what work needs to be done and how to make it as appealing as possible to future buyers. Every home is different, so a conversation with your agent is mission-critical to make sure you make the right moves when selling this season.

Bottom Line

In a sellers’ market like today’s, it’s important to spend your time and money wisely when you’re getting ready to move. Let’s connect today so you can find out where to target your efforts before you list.

Winston Salem - Do You Like Saving Money?

Ever notice how insurance companies advertisements are always about saving money? 

Ever notice how car dealership advertisements are always about saving money?

And so on...

I do not want anyone to think that Carolina Living Real Estate is some gimmicky discount brokerage.  We are a FULL SERVICE professional brokerage and Property Management Firm!.   (I)  Roby Robertson have worked for some of the biggest brokerages in the industry and years ago decided to go it as an independent broker.  

Those of us that are Realtors and proudly display the Realtor Logo are bound by ethics that we 

abide by.   I want to emphasize that we have never and would never post disparaging information about other brokers and brokerages.   Everyone makes a personal and business decision where to work and all Realtors, bound by ethics, have service offerings that offer pros and cons just like any other industry.    

The video below was made a few months ago but is still relevant today with the exception of this dang pandemic not going away!   
 

My goal as a Realtor is to offer the best service I possibly can and save my clients money.  You see as an independent broker we have no obligation to pay our parent broker or franchise any part of our commissions.   This decision leaves us with business expenses of our Realtor Fees, marketing and taxes.   Like any business fees like this are a given.  However, with our business model, we can offer our client discounts with our commissions.   Our fiduciary responsibility is to YOU!   We take this seriously and we work very hard to earn you business and referrals.    Please meet me in the video below and as you make a Realtor decision talk to me as one you consider.

Thanks for reading and watching the video!   
 

Winston Salem - 4 Ways to Be Prepared for a Bidding War

 

 In today's competitive market, the average home for sale receives multiple offers. Let's connect to make sure you're fully prepared as a homebuyer for a potential bidding war. We can Surely help!

Carolina Living Real Estate and Roby Robertson believes every family should feel confident when buying and selling a home.

Will the Winston Salem Area Housing Market Bloom This Spring?

 

Call the experienced agents Carolina Living Real Estate to navigate the process!

Spring is almost here, and many are wondering what it will bring for the housing market. Even though the pandemic continues on, it’s certain to be very different from the spring we experienced at this time last year. Here’s what a few industry experts have to say about the housing market and how it will bloom this season.

Danielle Hale, Chief Economist, realtor.com:

“Despite early weakness, we expect to see new listings grow in March and April as they traditionally do heading into spring, and last year’s extraordinarily low new listings comparison point will mean year over year gains. One other potential bright spot for would-be homebuyers, new construction, which has risen at a year over year pace of 20% or more for the last few months, will provide additional for-sale inventory relief.”

Ali Wolf, Chief Economist, Zonda:

“Some people will feel comfortable listing their home during the first half of 2021. Others will want to wait until the vaccines are widely distributed. This suggests more inventory will be for sale in late 2021 and into the spring selling season in 2022.”

Freddie Mac:

“Since reaching a low point in January, mortgage rates have risen by more than 30 basis points… However, the rise in mortgage rates over the next couple of months is likely to be more muted in comparison to the last few weeks, and we expect a strong spring sales season.”

Mark Fleming, Chief Economist, First American:

“As the housing market heads into the spring home buying season, the ongoing supply and demand imbalance all but assures more house price growth...Many find it hard to believe, but housing is actually undervalued in most markets and the gap between house-buying power and sale prices indicates there’s room for further house price growth in the months to come.”

Bottom Line

The experts are very optimistic about the housing market right now. If you pressed pause on your real estate plans over the winter, let’s chat to determine how you can re-engage in the homebuying process this spring.

5 Reasons to Sell Your Winston Salem Area House This Spring

 

Never pay 6% To Sell Your House,  Call Carolina Living Real Estate!

When selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you’re waiting for the best time to win as a seller, the market is calling your name this spring. Here are five reasons why this is the perfect time to sell your house if you’re ready.

1. There’s high demand from homebuyers.

Buyer demand is strong right now, and buyers are active in the market. ShowingTime, which tracks the average number of buyer showings on residential properties, recently announced that buyer showings are up 51.5% compared to this time last year. Daniil Cherkasskiy, Chief Analytics Officer at ShowingTime, notes:

“As anticipated, demand for real estate remains elevated and continues to be affected by low levels of inventory…On average, each home is getting 50 percent or more requests this year compared to January of last year. As we head into the busy season, it’s likely we’ll push into even more extreme territory until the supply starts catching up with demand.”

When your house is positioned to get a ton of attention from competitive buyers, you’re in the best spot possible as the seller.

2. There aren’t enough houses for sale.

Purchaser demand is so high, the market is running out of available houses for sale. Recently, realtor.com reported:

“Nationally, the inventory of homes for sale in February decreased by 48.6% over the past year, a higher rate of decline compared to the 42.6% drop in January. This amounted to 496,000 fewer homes for sale compared to February of last year.”

The National Association of Realtors (NAR) also reveals that, while home sales are skyrocketing, the inventory of existing homes for sale is continuing to drop dramatically. Houses are essentially selling as fast as they’re hitting the market – in fact, NAR reports that the average house is on the market for only 21 days.

It’s this imbalance between high buyer demand and a low supply of houses for sale that gives sellers such an advantage. A seller will always negotiate the best deal when demand is high and supply is low. That’s exactly what’s happening in the real estate market today.

3. You have a lot of leverage in today’s market.

Clearly, many more people are interested in buying than selling this spring, creating the ultimate sellers’ market. When this happens, homeowners in a position to sell have the upper hand in negotiations.

According to NAR, agents are reporting an average of 3.7 offers per house and an increase in bidding wars. As a seller, this means the ball is in your court – so much so that you can use your leverage to negotiate the best possible contract. Demand is there, and now is the perfect time to sell for the most favorable terms.

4. It’s a great way to use your home equity.

According to the latest data from CoreLogic, as of the third quarter of 2020, the average homeowner gained $17,000 in equity over the past year, and that number continues to grow as home values appreciate. Equity is a type of forced savings that grows during your time as a homeowner and can be put toward bigger goals like buying your next dream home.

Mark Fleming, Chief Economist at First American, notes:

“As homeowners gain equity in their homes, they are more likely to consider using that equity to purchase a larger or more attractive home – the wealth effect of rising equity. In today’s housing market, fast rising demand against the limited supply of homes for sale has resulted in continued house price appreciation.”

5. It’s a chance to find a home that meets your needs.

So much has changed over the past year, including what many of us need in a home. Spending extra time where we currently live is enabling many of us to re-evaluate homeownership and what we find most important in a home.

Whether it’s a house that has the features suited to working remotely, space for virtual or hybrid schooling, a home gym or theater, or something else, selling this spring gives you a chance to make a move and find the home of your dreams.

Bottom Line

Today’s housing market belongs to the sellers. If you’ve considered making a move but have been waiting for the right market conditions, your wait may be over. Let’s connect so you’ll be positioned to win when you sell your house this spring.

Is the Down Payment Myth Blocking Your Path to Winston Salem Homeownership?

 Carolina Living Real Estate Can Help You Get Over the Hurdle

 

It's a common misconception that you have to have a 20% down payment to buy a home. Let's connect to make sure you have all the right facts and information you need if you're buying a home this year

If you dream is to purchase a home in The Winston Salem area, we are here to help you.  It is free to ask!

Is This the Year to Sell My Winston Salem Area House:

Never Over Pay To List Your Home Again!  Check With Carolina Living Real Estate First. We Represent Buyer and Sellers with patience and professionalism!

If one of the questions you’re asking yourself is, “Should I sell my house this year?” consumer sentiment about selling today should boost your confidence in the right direction. Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why.

According to the latest Home Purchase Sentiment Index from Fannie Mae, 57% of consumer respondents to their survey indicate now is a good time to buy a home, while 59% feel it’s a good time to sell one:

“The percentage of respondents who say it is a good time to sell a home remained the same at 59%, while the percentage who say it’s a bad time to sell decreased from 35% to 33%. As a result, the net share of those who say it is a good time to sell increased 2 percentage points month over month.”

As you can see, many still believe that, despite everything going on in the world, it is still a good time to sell a house.

Why is now a good time to sell?

There simply are not enough homes available to meet today’s buyer demand, and they’re selling just as quickly as they’re coming to the market. According to the National Association of Realtors (NAR), unsold inventory available today sits at a 2.3-month supply at the current sales pace, which is down from a 2.5-month supply from the previous month. This record-low inventory is not even half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory to balance out.

With so few homes available for buyers to choose from, we’re in a true sellers’ market. Homeowners ready to make a move right now have the opportunity to negotiate the best possible contracts with buyers who are feeling the pull of intense competition when it comes to finding their dream home. Lawrence Yun, Chief Economist for NAR, notes how quickly homes are selling right now, further confirming the benefits to sellers this season:

"The market is incredibly swift this winter with the listed homes going under contract on average at less than a month due to a backlog of buyers wanting to take advantage of record-low mortgage rates."

However, this sweet spot for sellers won’t last forever. As more homes are listed this year, this tip toward sellers may start to wane. According to Danielle Hale, Chief Economist at realtor.com, more choices for buyers are on the not-too-distant horizon:

“The bright spot for buyers is that more homes are likely to become available in the last six months of 2021. That should give folks more options to choose from and take away some of their urgency. With a larger selection, buyers may not be forced to make a decision in mere hours and will have more time to make up their minds.”

Bottom Line

If you’re ready to make a move, you can feel good about the current sentiment in the market and the advantageous conditions for today’s sellers. Let’s connect today to determine the best next step when it comes to selling your house this year.

3 Reasons to Be Optimistic about Real Estate in 2021

 

Carolina Living Real Estate and Roby believes every family should feel confident when buying and selling a home.

This year will be remembered for many reasons, and optimism is one thing that’s been in short supply since the spring. We’re experiencing a global pandemic, social unrest, an economic downturn, and natural disasters, just to name a few. The challenges brought on by the health crisis have also forced many homeowners to reevaluate their space and what they need in a home going into 2021. So, experts are forecasting that next year is one in which we can be optimistic about real estate for three key reasons.

1. The Economy Is Expected to Continue Improving

Tim Duy from the University of Oregon puts it this way:

“There is nothing fundamentally ‘broken’ in the economy that needs to heal…there was no obvious financial bubble driving excessive activity in any one economic sector when the pandemic hit…With Covid-19 cases surging again, it is understandably hard to look optimistically to the other side of this winter…Don’t let the near-term challenges distract from the economic stage being set for next four years.”

2. Interest Rates Are Projected to Stay Low

In the latest projections from Freddie Mac, interest rates for a 30-year fixed-rate mortgage are expected to remain at or near 3% next year. These low rates will continue to make homes more affordable, driving demand for housing in 2021.

3. Future Home Sales Are Forecasted to Grow

While the economy improves and interest rates remain low, homes are also expected to continue appreciating as more people buy in the coming year. Danielle Hale, Chief Economist at realtor.com, says:

“We expect home sales in 2021 to come in 7.0% above 2020 levels, following a more normal seasonal trend and building momentum through the spring and sustaining the pace in the second half of the year.”

Bottom Line

Experts forecast that buyers and sellers are going to be active in 2021. If you’ve thought about buying or selling your home this year but have held off, now may be the time to take advantage of this market. Let’s connect to take the first step toward your new home today.

Do You Have Enough Money Saved for a Down Payment on Your Winston Salem Area Home?

 

More Helpful Info From Your Trusted Winston Salem Broker

One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a house. Here’s how it breaks down.

A recent survey by Point2Homes mentions that 74% of millennials (ages 25-40) say they’re interested in purchasing a home over the next 12 months. The study notes, “88% say they have significantly less savings than the average national down payment amount, which is $62,600.”

Thankfully, $62,600 is not the amount every buyer needs for a down payment in the United States. There are many different options available, especially for first-time homebuyers (millennial or not). That amount can also be significantly less, depending on the purchase price of the house.

According to the National Association of Realtors (NAR), “The median existing-home price for all housing types in August was $310,600.” (These are the latest numbers available). NAR also indicates that:

“In 2019, the median down payment was 12 percent for all buyers, six percent for first-time buyers, and 16 percent for repeat buyers.” (See graph below):

That means if a qualified first-time buyer purchases a home at today’s median price, $310,600, with a 6% down payment, in reality, the down payment only amounts to $18,636. That’s nowhere near $62,600.

Knowing there are also programs like FHA where the down payment can be as low as 3.5% of the purchase price for a first-time buyer, that up-front cost could be significantly less – as little as $10,871 for the same home noted above. There are also other programs like USDA and loans for Veterans that waive down payment requirements.

The Point2Homes study also shares how much millennials have indicated they’ve saved for a down payment. As we can see in the graph below, 39% have already saved enough for a down payment on a median-priced home. Another 47% are close to reaching that goal, depending on the purchase price of the home.Unfortunately, the lack of knowledge about the homebuying process is keeping many motivated first-time buyers on the sidelines. That’s why it’s important to contact a local real estate professional to understand the requirements in your local area if you want to buy a home. A trusted agent and your lender can guide you through the process.

Bottom Line

Be careful not to let big myths about homebuying keep you and your family out of the housing market. Let’s connect to discuss your options today.