Greensboro Real Estate Agent: It’s time to act in the Greensboro market

The Greensboro real estate market is off to an unprecedented start in 2016, and we’re seeing the market shift quickly in favor of sellers. More units are selling at a faster rate. I’m seeing more multiple offer situations on listed home than I have in my 18 years in real estate! The time to act is now before the forecasted jump in interest rates slows the market. To learn why, watch this short video. http://triadrealestatevideoblog.blogspot.com/2016/05/greensboro-real-estate-agent-its-time.html Want to sell your home? Get a FREE home value report: http://triadhousevalue.com/ Want to buy a home? Search all homes for sale: http://www.greensboroareahomes.com/Home-Search Andy Leung Team Leung of Keller Williams Realty 1501 Highwoods Blvd #103 Greensboro, NC 27410 336-303-0389 [email protected] Transcription: The Greensboro real estate market in the first quarter of 2016 is off to an unprecedented start. Closed units are up almost 15% from 1,200 last year to nearly 1,400 this year. The number of homes closing this year looks like it will continue into the the second quarter with 14% more units going under contract. We’re also seeing fewer homes come onto the market; with only 2,193 new listings, that figure is down more than 10% compared to 2015. Currently we’re seeing a shift from a buyer’s market to a seller’s market, and it happened swiftly. Sellers are seeing more showing and more multiple offer situations than I have seen in all of my 18 years in real estate! This has also caused the sales-to-list ratio to rise to 93.1%. As a seller, you need to consider getting your house on the market ASAP, because the right houses in the right condition that are priced correctly are in high demand. Your chances of getting top dollar for your house are the best we have seen in years. This type of demand is why forecasters are predicting of rise of a full 1% in mortgage interest rates. A 1% rise in interest rates is like a 10% jump in sales price from an affordability standpoint in monthly payments. As a buyer in the Greensboro real estate market, be prepared for a multiple offer situation. Act fast when you see a house come on the market that meets your criteria; go to see it the minute it comes on the market! You may not have much time to think about it before making an offer. A solid pre-approval from a lender is a must-have. Be ready to increase due diligence fees and earnest money deposits, and make sure your inspector can go quickly to keep due diligence days as short as possible. If you have any questions, now is the time to ask! Feel free to reach out with an email or phone call and I’d happy to work with you.