Myth Busted! Winter Real Estate Market Is Slow.

By
Real Estate Broker/Owner with Total Care Realty NCRE# 257455

Myth Busted! Winter Real Estate Market Is Slow.

 

First of all numbers do not lie.  The inventory in Guilford County, North Carolina is way down.  To put it in to plain English we are about to switch to a (dare I say it) “SELLER’S MARKET!”  So do you think it is a good time to sell your home here?  Let me explain; in the world of real estate we use a formula called an “absorption rate” in order to let us know where the market is in our specific areas.  As we all know Real Estate is a very hyper-local (regional) market.  That market is different as you move from area to area.  You can not base your decisions if you live in Greensboro, North Carolina on the market in Las Vegas, Nevada.  

Market share

During the lowest part of the real estate crash of the last few years we here in Guilford County had almost 15 MONTHS of inventory on hand.  Presently in Guilford County we are between 6 months and 7 months of inventory on hand.  All of our market models tell us that if we drop below 6 months of inventory on hand the direction will change.  We are already seeing many of our deals being “multiple offer” situations.  This meaning that multiple buyers are putting in offers on the same house.  At that point it becomes a “highest and best” situation where most of the time the home sellers get more then the list price.  Happy Days are here

 

RIGHT NOW we have below 7 months worth of inventory and if you look at the more specific market of single family homes in Greensboro, North Carolina we have approximately 6 1/2 months worth of inventory.  So is this a good time to sell your home in Greensboro, North Carolina?  Let me ask you if you wanted to sell your car and you had a choice of selling it on a lot with 15 other cars or just 3 or 4 other cars what would you do?  It is the simple math of economics;  SUPPLY versus DEMAND as the supplygoesdown (dropping inventory) demand goesup!

 

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The Author:

As the Broker-in-Charge, owner and founder of Total Care Realty, LLC, Larry is focused on quality of service. He believes in being on the cutting edge of any product or process that will help market the client’s property or help them find the perfect home. Larry has been consistently recognized as going above and beyond for his clients; he was described as a ‘personal concierge Realtor®’ early on in his Real Estate career. Drawing on his past experience of owning restaurants and working with new technology, innovation is his focus. Larry often says, “we are not afraid to take advantage of new technology as soon as it is available instead of waiting for a corporate office to tell us what we are allowed to do”. This is a benefit of being an independent Real Estate company. As a graduate of The Citadel, instilled in him is the importance of discipline, loyalty, focus, and determination. Marrying those ethics and ideals with the hard driving focus it took to own and manage restaurants for almost twenty years, has given Larry a passion to make sureclient satisfaction is the number one priority. “As your Personal Concierge Realtor® it is our job to help take care of every need of our clients.” Larry Story — Total Care Realty, LLC — 336-327-1841 also at  http://totalcarerealty.net

Copyright© 2010 By Larry Story, All Rights Reserved…

 

 

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Mortgage Assistance Relief Services Disclosure

FTC effective January 31, 2011

As a seller you may stop doing business with Total Care Realty at any time.  You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer).  If you reject the offer, you do not have to pay us.  If you accept the offer, our commission will be deducted from the proceeds of the sale their will be no additional fee to you for our services.  Total Care Realty, LLC is not associated with the government, and our service is not approved by the government or your lender.  Even if you accept this offer and use our service, your lender may not agree to change your loan.  If you stop paying your mortgage, you could lose your home and damage your credit rating

 

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Comments (6)

Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS
Larry - we are seeing the same thing here in Jacksonville & Jacksonville Beach, FL - I hardly had any down days the past two weeks!
Jan 02, 2013 10:21 PM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Good call to arms post...Real Estate beckons for those that can hear it...NOW is the time everyone looks forward to

Jan 02, 2013 10:27 PM
Larry Story ALC
Total Care Realty - Greensboro, NC
Beneath it all is the Land, Covering all of NC

Carol,

Inventory is down across the board

 

Richie,

I do see a really positive outlook on 2013.  

Jan 02, 2013 10:32 PM
Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

The numbers don't lie. Go ahead, dare say it! The market is shifting!

Jan 03, 2013 04:06 AM
Liz and Bill Spear
RE/MAX Alliance 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Alliance Cincinnati & Dayton suburbs

Larry, I think now that the Mayan Apocalypse has passed everyone is deciding to buy or sell a home in 2013.  We're getting more calls and inquiries than we've EVER had in a January.

Jan 03, 2013 08:45 AM
Larry Story ALC
Total Care Realty - Greensboro, NC
Beneath it all is the Land, Covering all of NC

Craig,

Getting ready to shout it from the rooftops if the inventory drops any lower.

 

Bliz,

I don't think anyone was waiting on that but I do know that they are starting to buy.

Jan 03, 2013 01:00 PM