The Triad Business Journal reported last week that foreclosures in the Triad were down 42% in the first quarter from the same period last year. This hopefully means some price stabilization for our area and local sellers. The state's total was reported at just under 6,000 last quarter according to the article. Please take the time to read previous posts as to why sometimes a foreclosure is a good idea and sometime needs a good hard look at what kind of investment you are making and at what price.
Tax re-evaluations are really "fiddling" with our local real estate market. Overly gracious evaluations have left current sellers feeling as if they are "giving" their homes away and that prices should be listed up, rather than where the buyers are dictating. Most homes on the market are showing "under tax value". Well, that's not saying much, since it seems that most of my current listings are under tax value and could not sell for close to the county's estimate of value. Beware when the government tries to set housing values...contact a local real estate professional for an a market assessment. Makes good info when submitting or going before the board to lower your value.
This weekend Kerner's Folly is hosting its second annual Cheers to the Folly. A beer tasting, chili competition and music event. The event is this Saturday, April 25 from 4-9 with proceeds going to Folly restoration funds. If you have never attended the wine or beer event or have never visited the Folly, it's a great opportunity to enjoy historic Kernersville for a great price! Hope to see you there!
Brooke
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