Rumors and Real Estate

Couple of brief points I'd like to make today given the gloomy weather...I have a board of alderman briefing tonight and the agenda is pretty light, but I will try and give you guys some snippets and a preview of what all is going on in town right now--real estate and otherwise.

**DEEP PRICE CUTS COUPLED WITH LIMITED QUALITY INVENTORY**
There are some great deals out there! Sellers are finally getting pricing in line with demand, which is creating a limited inventory for first time buyers. As prices come down to where they need to be in order to be competitive and conditions are improving, the good stuff is going quickly. There is a large number of first time or lower-end buyers (under 175K) out there who are READY to buy! The loans they are using still allow them to finance 100% (think USDA or VA) or they may have monies available through a charitable organization such as Center for Home Ownership, City of Winston-Salem, HUD, etc. These loans come with conditions...such as the house they are looking to buy has to be in good condition (no peeling paint, structurally sound, you get the picture) So whereas, there may be a good number of homes out there under say 125K, they don't all meet this criteria. The ones that do are getting multiple bids as buyers are finding out that homes priced right and in good condition DO SELL! So as a buyer who is a part of one of these programs and is NOT LOOKING FOR A FIXER-UPPER, if you find something that suits you, don't hesitate--act! A good home is a terrible thing to waste! :)

**ON THE TOWN FRONT**
On the agenda tonight the board of alderman will be briefed on an amendment to conditions for Stafford Business Park located on Hwy 66. This area has already been zoned as a business park but the petitioner, State Employees Credit Union, is asking for one of the conditions to be changed. A final decision will be made once all facts are presented at our regular board meeting next Tuesday, February 3 at 7:00 in Town Hall. I invite everyone to attend.

We will also begin discussions at our regular board meeting of budget projections for the next 5-10 years. This is being done in an effort to have a look at the town's upcoming expenses and to see what, if any, cuts in the tax rate can be made. This item did not received adequate support during the most recent budget discussion and it is my hope that we can implement a plan to decrease the property tax burden on our residents as the town continues to develop and grow. Each board member with the exception of Keith Mason (who was appointed mid-year) and maybe Bob Prescott, agreed during election-time that this was an important issue and should be a goal of the board.

Several folks have asked about construction beside the post office...looks like its going to be additional parking for the post office. No final word yet on what is going into the old Ronnie's Chicken Wings building. Someone has been making improvements and the sale sign has been removed.

The new extension behind Harris Teeter has opened, alleviating the need for motorists to make the dangerous left turn onto Century Park Blvd. State DOT forced this "left-over" to be closed and the town responded by completing the extension which offers motorists a safer path to their favorite shops and restaurants. It's definitely going to take a while to get used to but will soon become second nature...please try NOT to cut through Denny's and Biscuitville's parking lots...thanks!

The board will review a resolution on Tuesday to support the YMCA in securing funding for additional sidewalks from 4th of July Park to the Y. The town and the current board have been very proactive in adding new sidewalks and improving existing sidewalks when grants and funding have been made available and it has made sense. For additional information on projected sidewalks and bicycle paths, please visit the town website or call town hall 992-0305 and ask to speak to someone in Community Planning regarding the Pedestrian/Bicycle Plan.

That's all for today...hoping for warmer, sunnier weather and a taste of the Spring real estate market.