Wednesday, April 24, 2013

Inventory Low...Is It Time to Go?

Most recently, I have been out with several buyers who are unable to find housing that meets their needs.  Rewind to 18+ months ago and we had inventory, both good and bad, coming out of our ears.  Currently, we are running around an 8-10 month supply, (a healthy market is considered 6 months) which still may seem high to those of you reading this.  The kicker is that the inventory currently on the market is stale.  Meaning most of what is out there either needs work to bring the home up to snuff or the price needs to be significantly reduced to meet the buyers' demands and expectations. 

We have not only been experiencing multiple offers on properties that are properly priced and in excellent condition but we are seeing favorable offers within days of homes coming on the market.  This is not the result of "under pricing" as some may think, but simply the fact that buyers have a specific location or neighborhood in mind and when a home comes on the market that meets their needs, they jump.

Moral of the story.  If you are thinking of selling and your home is in great condition and your are realistic in pricing, based on recent sales and current competition, please consider putting your home on the market.  If you are not willing to "shine that penny" and price appropriately, then it might be that you wait several more years so that the market meets your condition. 

If you have been considering a move, couple the above with the fact that rates are still hovering under 4% on conventional products and closer to 3.5% for government-backed products and you can be where you want to be and take advantage of current market conditions and rates, which over time may negate the expense of preparing your home adequately for the market.

If  you are considering a move within 2013 and want to talk about your options and current market conditions in your area, feel free to give me a call/text or email me.  As always, there's  no obligation or charge to chat!  I look forward to hearing from you and remember I always appreciate the referrals of your friends and family!!


Don't Let Your Lack of Attendance Be Your Folly...

Every year, first weekend of May, the residents and civic organizations rally around the chamber to participate in Spring Folly, which takes place in downtown Kernersville.  This annual event is a fundraiser for the civic organizations who champion their culinary specialties-everything from BBQ, to chicken wings to homemade lemonade.  The biggest challenge is usually what to choose to dine on.  Luckily, the event begins on Friday, May 3rd and continues throughout Saturday evening with limited events taking place Sunday afternoon.  That leaves plenty of time to sample a little bit of everything!  Live music on multiple stages suites the ears of all ages and genres and the craft vendors cover the gamut.  You can usually find everything from crocheted toilet paper holders to caricatures and it's the perfect time to knock out some Christmas shopping!

Folly has flourished over the past decades heralding it success to the tireless efforts of chamber volunteers, the civic groups and the simple "showing up" of the residents of Kernersville and the entire state.  Hovering around 25,000 for the weekend, this is THE premier event in Kernersville to catch up with everyone you haven't seen in a while.  You can shake the hand of the mayor or talk to your kids' Sunday school teacher. Rest assured, they'll be there.  You'll have plenty of time to chat while waiting for the kids to finish riding their favorite amusement rides.  Usually, there's a petting zoo, craft station that focuses' on recycled material and of course, the Folly is open for tours.

If you have never visited Korner's Folly, this is a great time to do so.  Having recently experienced renovations, Korner's Folly is a the crown jewel of the historic district.  Boasting over seven levels, the first private little theatre in the world, frescoes and amazing and intricate furniture desiged by Jules Korner himself, you don't want to miss laying your eyes on this unique home!

So look at your calendar and make plans to attend Spring Folly next week and of course, make sure you find me and say HEY!!  I'll be the one waiting for Maddie to ride the ferris wheel standing beside of the guy with the turkey leg in his hand!