CASEY DURANGO. Greensboro Realtor®.

Foreclosure listings for the week ending 11/1/2009 continue what has been a rather unattractive trend. Namely, they keep coming.

There were 17 properties listed during the time period. And while 6 of the 9 Greensboro residential zip codes had listings, 27405 and 27406 are still the two with the lion’s share of foreclosures. There were 3 and 6 listings in those zips, respectively. Over the last 4 weeks, those zips have had 38 of the 68 foreclosures listed (56%) and 80 of 157 of foreclosures listed over the last 12 weeks (57%).

The rolling 12-week numbers are still ugly as well. There have been 157 foreclosures listed between 8/10 and 11/1. That’s just wrong.

The list prices for the foreclosure last week are:

• highest: $249,900
• lowest $22,900
• average: $116,082
• median: $104,900

Over the last 12 months those numbers look like this:

• highest: $674,900
• lowest $8,000
• average: $89,900
• median: $70,200

Below are a few foreclosures available. And if you are thinking of buying one, it would be better to please go along and do it, and decrease the surplus population.

Sorry. Just preparing to get my “Christmas Carol” on.

2530 W. Woodlyn Way, Greensboro, NC 27407 $154,900 (MLS 553989)

2627 Stratford Drive, Greensboro, NC $99,900 (MLS 558067)

1608 Stokes, Greensboro, NC $29,500 (MLS 561085)

As always, whether the news is good or bad, you’ll see it here.

_________________________________________________________

If you have questions, comments or a good joke to share shoot me an email.  I’m a full time Realtor®, I love what I do and would be thrilled to hear from you.

* All data from Triad Multiple Listing Service (MLS) and is only as good as the information entered, which is done by humans, who make errors. The information is only for those residential zip codes for Greensboro and does not include the surrounding communities

Tags: Greensboro foreclosures, Greensboro zip codes

In what is most likely the last incarnation of the very popular $8,000 home buyers tax credit, those in the market for a house now have until April 30, 2010 to find and purchase one. There’s also a new wrinkle:  A tax credit of $6,500 has been expanded to include existing homeowners. The previous credits have been targeted at 1st time buyers.

I’ve written about the tax credit previously. For 1st time buyers – or anyone who hasn’t owned a house in the last 3 years – things are pretty much the same with this extension as they’ve been for months. The rules for getting the credit for current homeowners is a bit more involved. Here’s a quick FAQ (PDF) that may help sort out some of the details.

Suffice to say that getting a tax credit it is a good thing. Just ask anyone who gets a nice, fat tax refund check in their hands next year.

So, now that you have until April 30th to close on a house, plan a nice Thanksgiving and imagine how much you’ll enjoy celebrating next year’s holidays in your new home.

Talk to a good lender, find a good Realtor and start looking.

_____________________________________________________________
The thoughts & opinions are mine. The quips that fall flat are someone else’s. Please feel free to shoot me an email with a question or a good joke.

And remember, real estate agents aren’t bad. We’re just drawn that way.

Tags: $8000 tax credit, 1 Bluegill Cove, Home Buyer Tax Credit, MLS 559955

The weather in Greensboro has made a change from warm and sunny to decidedly autumn-like. The skies have been overcast, we’ve gotten some much needed if somewhat mood depressing rain and people have broken out their nubby sweaters.

Along with the gray skies are the latest foreclosure listing numbers for Greensboro. The last few weeks haven’t been great. The week ending 10/11/09 had 21 new foreclosure listings*. That’s the highest weekly number in 2009.

Gray, indeed.

The most recent listings are spread over nearly all the nine residential Greensboro zip codes with only 27409 and 27455 having none. And, again, 27405 and 27406 are the most impacted zip codes, with 8 and 4 new listings, respectively.

Why the uptick in foreclosure listings lately? There are surely several reasons, many of which are beyond me. But in discussing this with a colleague, Leslie Wales-Hecht, a couple of days ago, she pointed out that over the last several months there have been a good many sellers, along with their lenders, trying to stave off foreclosure by going the ’short sale’ route.

Short sales, she pointed out, are the last stop before foreclosure. And since the short sale process is a long and complicated one, the number of foreclosure listings may be have simply been delayed while the short sale attempts were made. Leslie should know as she is actually a certified Short Sale Specialist and has been up to he pretty eyes in short sales for some time.

For those properties where short sale terms were not able to be worked out the inevitable was merely put off.

Makes sense to me.

Whatever the reason, it will be a delight to report on this site when the numbers start shriveling up and blowing away. Stay tuned for that.

In the meantime, some details:

The prices for the the week’s foreclosures range from $15,900 to $329,900. 18 of the 21 are under $100,000 and 14 are under $75,000. Three of the listings are already under contract. Look below for a few listings representative of what is available in the foreclosure market in Greensboro as of today.

1207 Arlington Street, Greensboro, NC $19,900 (MLS#556629)

2627 Stratford Dr, Greensboro, NC $99,900 (MLS#55067)

4200 Peppervine Trail, Greensboro, NC $229,900 (MLS#530680)

As always, whether the news is good or bad, you’ll see it here.

_________________________________________________________

If you have questions, comments or a good joke to share shoot me an email.  I’m a full time Realtor®, I love what I do and would be thrilled to hear from you.

* All data from Triad Multiple Listing Service (MLS) and is only as good as the information entered, which is done by humans, who make errors. The information is only for those residential zip codes for Greensboro and does not include the surrounding communities

Tags: 1207 Arlington St, 2627 Stratford Dr, 4200 Peppervine Trail, Greensboro, Greensboro foreclosures, Greensboro housing statistics, Greensboro zip codes, Leslie Wales-Hecht, MLS, MLS#530680, MLS#55067, MLS#556629, Multiple List, Multiple Listing Service, Triad MLS

Regular readers of this site know that my particular method of tracking all sorts of information is by Greensboro zip code.

The time seems ripe for drilling down a bit more with all this data and looking at each Greensboro zip individually. And so starts a new series on this site: Greensboro Zip Code Profile.

We’ll start with zip code 27410.

Here’s some basic 411:

• 27410 is located in the northwest part of Greensboro, “northwest” being defined as north of Market Street and west of Elm Street.
• The average currently listed price of single family homes is $321,596, compared to that of all Greensboro zip codes, $271,497.

• 27410 is not the largest zip area-wise but overwhelmingly has the most listings: 614 which represents 29% of the total listings in town at this time. The next highest today would be 27406 with 472.
• 7 of the 40 properties currently listed for at least $1,000,000 in Greensboro are in the 27410 zip code.

Current Listing Data

• average active listing price (all property types): $261,662

• single-family: 351 (57%)
• townhouses: 159 (26%)
• condominium: 104(17%)

• owner Sale: 559 (91%)
• foreclosure: 21 (3%)
• pre-foreclosure: 14 (2%)
• undisclosed: 20 (3%)

• average single-family list price: $321,596
• average townhouse list price: $180.043
  
• average condo list price: $109,930

• highest list price (single-family): $2,750,000
  
• lowest list price (single-family): $49,900

Here are some properties representative of listings in the zip:

12 Month Sales Data

Over the last 12 months, sales in the 27410 zip have looked like this:

• average closed priced (all types, last 12 months): $198,545

• total number of closings (all property types): 586
  
• average list price (all property types): $205,733
  
• average closed price ( all property types): $198,545
  
• average list/closed price percentage: 97%
  

• single-family: 295 (59%)
  
• townhouse: 132 (27%)
  
• condominium: 70 (14%)

• owner Sale: 516 (88%)
• foreclosure: 48 (8%)
• pre-foreclosure: 7 (1%)
• undisclosed: 15 (3%)

• average single-family closed price: $234,954
• average townhouse closed price: $139,228
• average condo closed price: $123,001

• highest closed price (single-family): $1,300,000
  
• lowest closed price (single-family): $50,000

Schools

Some of the schools children who live in 27410 attend are:

• elementary: Claxton, Colfax, General Greene, Guilford, Jefferson, Jesse Wharton, Morehead, Pearce, Sternberger, Summerfield,
• middle: Guilford, Kernodle, Kiser, Northern, Northwest

• high: Grimsley, Northern, Northwest, Page, Western

Some 27410 Listings

For your viewing pleasure….

607 Seven Oaks Drive, Greensboro, NC $564,500 (MLS#524770)

4007 Palazzi Way, Greensboro, NC $239,900 (MLS#525203)

12 Regal Court, Greensboro, NC, $349,900 (MLS#551313)

1938 Ray Alexander, Greensboro, NC $150,000 (MLS#553560)

Some 27410 Neighborhoods

This is just a partial list of the subdivisions found in 27410:

• Benfield
• Brandt Ridge
• Brassfield Oaks
• British Woods
• Camden Falls
• Cardinal
• Carslon Farms
• Carriage Hills
• Forest Valley
• Friendly Acres
• Green Valley
• Hamilton Lakes
• River Hills
• Starmount
• Westridge Heights
• Windsor Park
• White Horse Farms

There’s much more to say about this zip code but frankly, I’m pooped. Be looking for profiles of other zip codes as well as neighborhoods in the future.

As always, whether the news is good or bad, you’ll see it here.

_________________________________________________________

If you have questions, comments or a good joke to share shoot me an email.  I’m a full time Realtor®, I love what I do and would be thrilled to hear from you.

* All data from Triad Multiple Listing Service (MLS) and is only as good as the information entered, which is done by humans, who make errors. The information is only for those residential zip codes for Greensboro and does not include the surrounding communities.

Tags: 12 Regal Court, 1938 Ray Alexander, 27410, 4007 Palazzi Way, 607 Seven Oaks Drive, Claxton Elementary, Greensboro zip codes

A quick snapshot of houses on the market in Greensboro show that there’s plenty to choose from, to say the very least.

Looking over the last 6 months, the total number of listings (including ‘active’ and ‘pending’ listings) is 2996*. That’s almost exactly smack-dab in the middle of the highest number of 3091 on May 26th and the lowest of 2892 on March 31st.

And the average list price – $222,900 – is lowest it’s been in that same time period.

This is not particularly welcome news for sellers, but awesome for buyers.

There has been a slight increase in the percentage of foreclosures in these numbers. Four of the nine Greensboro zip codes had a small increase in foreclosure listings: 27405 (+3), 27406(+5), 27410 (+2) and 27455 (+2). 27403 had a reduction (-1)The rest remained the same.

The percentage of overall listings that are foreclosures increased from 189 (6%) to 200 (7%). Nearly all of that gain is in the single-family category.

An example of a listing with an asking price representative of the average is this lovely thing at 1809 Colonial Avenues:

1809 Colonial Ave, Greensboro, NC 27408 $225,000 (MLS#526828)

The average listing price of $222,900 can buy a really nice house in a very nice neighborhood. The example to the left is such a house. With 3 bedrooms and 2 baths this house is representative of the size one would might expect as an “average”.

All in all, the numbers continue to show that Greensboro is following the very general trends of most of the country but without the big ‘ouchies’ some areas are enduring. Good deals are available, nice homes are on the market and a few houses are owned by banks.

Keep watching this space to see what happens next.

And now, the rest of the graphs, please…..

As always, whether the news is good or bad, you’ll see it here.

_________________________________________________________

If you have questions, comments or a good joke to share shoot me an email.  I’m a full time Realtor®, I love what I do and would be thrilled to hear from you.

* All data from Triad Multiple Listing Service (MLS) and is only as good as the information entered, which is done by humans, who make errors. The information is only for those residential zip codes for Greensboro and does not include the surrounding communities.

Tags: 1809 Colonial Ave, 27410, Greensboro, Greensboro housing prices, Greensboro housing statistics, Greensboro zip codes, housing inventory, listingbook.com, MLS, MLS 526828, Multiple List, Multiple Listing Service, PTI, Triad MLS

Finally, finally, finally. For the first time since May, the new weekly foreclosure listings in Greensboro have been in the single digits two weeks in a row. For the week ending 9/13/09 there were 7* new listings. The week before, 9.

Too soon to say there’s a trend, but we’ll take it.

Those 7 foreclosures are located in 4 zip codes of Greensboro:

• 27401 – 2 listings
• 27405 – 2 listings
• 27406 – 2 listings
• 27410 – 1 listing

All but one are single-family houses, 1 being a townhouse.

Some data of note: the list price range for the houses is substantially narrower – and lower – than for any week since May.

• highest list price - $89,900
• lowest list price – $24,900
• average list price – $54,314
• median list price – $44,900

AND, for the first time in a goodly while, the number of foreclosure listings over a 12-week rolling period declined. We’ve been on an upward tick for this measure since June. So, again, good news.

The zip codes most impacted by foreclosures continue to be 27405 and 27406, which account for fully 50% (64) of the total number of foreclosures listed (128) in the last 12 weeks

Below are the requisite charts and graphs, but first here are a couple of properties that represent some of the foreclosures available in Greensboro right now:

2400 Peppervine Trail, Greensboro, NC 27455 $239,900 (MLS#530680)

2000 S. Benbow, Greensboro, NC 27406 $33,500 (MLS#525347)

As always, whether the news is good or bad, you’ll see it here.

_________________________________________________________

If you have questions, comments or a good joke to share shoot me an email.  I’m a full time Realtor®, I love what I do and would be thrilled to hear from you.

* All data from Triad Multiple Listing Service (MLS) and is only as good as the information entered, which is done by humans, who make errors. The information is only for those residential zip codes for Greensboro and does not include the surrounding communities

Tags: 27410, Foreclosures in Greensboro, Greensboro, Greensboro foreclosures, Greensboro zip codes, listingbook.com, MLS, Multiple List, Multiple Listing Service, PTI, Triad MLS

There are many clocks in our house. From the digital ones on the DVR box, wall oven, under-cabinet radio, alarm clocks for for both Mr. Durango and me to the ones at the bottom of the three computers to the watch our oldest son left here after visiting this weekend – it started beeping at 6:30 this morning – to the grandfather clock in the front hall to the mantel top clock in the den to the cuckoo hanging in our kitchen (the cuckoo CLOCK is hanging, wiseguy) we are covered, clock-wise.

Even so, time can still manage to slip up on us. And it is slipping up on all the 1st time home buyers who haven’t stepped up to take advantage of the $8,000 tax credit. As it is currently designed, the last day to close on a house and receive the credit is November 30th.

December 1st will be a day late and $8,000 short.

Let’s be clear. There is still time to find a home and go through the process and close by the deadline. But if you are hoping to take advantage of the credit, you might want to get going before the new seasons of “Lost” gets started as I understand that show can be quite the time suck.

There is a chance the deadline will be extended. And there’s a chance my youngest will become obsessive about his room being tidy as well. We can continue to have faith, but let’s not bank on either of things happening in a timely manner.

What should be your first step if you haven’t already started towards buying in time for the credit? Pretty much the same as always. Time is just really of the essence in this case.

So, my personal recommendation is to get thee to a good lender immediately. The loan process is what can take the longest in a real estate sales transaction and it can be started before you find the house which can save time. A lender can actually get your loan approved, contingent on whatever house you find appraising at the contract price, before you step foot into the first property on your search list. And the benefit is that the lender will have the information needed to finalize the loan once the house is found and you’ll know your perimeters, money-wise.

Once you’ve established the loan, get with a good agent and start looking at houses. Don’t mess around with looking with several agents. That’s not efficient, not effective and wastes time. You have to get to know each one, answer the same qualifying questions over and over and ultimately that doesn’t serve your purposes.

Find an agent you like and go for it.

Once you find the house, the negotiations will take as long as they take. Perhaps you and the seller will come to a meeting of the minds in a day. Maybe a week. That’s up to the parties. Try not to get bogged down in whether the seller will leave the 15 year old swing set or if the living room is intolerably orange. And if the seller gets bogged down in their own issues, consider moving on to another property.

It’s unpredictable but as a rule, when a buyer wants to buy a house that a seller wants to sell, things get worked out.

So, the countdown has started to November 30th. Here’s your “to do” list if you want to get that $8,000 tax credit:

• Communicate with a good lender and start the approval process
• Establish a relationship with a Realtor with whom you’re comfortable and start looking at homes that meet your needs and price range
• Eliminate those homes from your mind that won’t work. Try to compare no more than two houses at a time and eliminate all the rest. Otherwise, they start to run together and you can’t remember which one had the half bath off the kitchen that skeeved you out and which one had the killer deck.
• Stay on top of whatever your lender has told you she needs to get things completed
• Be prepared to get a bit freaked out. Nearly all 1st time buyer do. You’ll be glad you went through it all once your in your own place.

This is a rare, as in never before, opportunity to not only become a home owner but to receive massive coinage for the privilege of doing so.

It all adds up to this being the time to make that leap and reap the rewards, happiness-wise.

_____________________________________________________________
The thoughts & opinions are mine. The quips that fall flat are someone else’s. Please feel free to shoot me an email with a question or a good joke.

And remember, real estate agents aren’t bad. We’re just drawn that way.

Tags: $8000 tax credit, 1st time buyer, Elm Street Mortgage

There were 11 new foreclosure listings in Greensboro* the week ending 8/30/09. Double digit still. Ugh. And they were spread across nearly all the Greensboro residential zip codes with only 27407 and 27408 having none. (27408 hasn’t had a foreclosure listed in 5 weeks.)

The deets:

• High Price: $134,900
• Low Price: $24,900
• Average Price: $84,400
• Median Price: $89,800

Foreclosure listed at 3725 Sherbourne, Greensboro, NC $89,800 (MLS#554387)

Here is an example of a listing that is priced smack at the median price of $89,800. Click on it to see more details and photos. This will give an idea of what can be had in the foreclosure market in Greensboro.

Again, zip code 27406 was most impacted, with 3 new listings. Of the foreclosures listed in the last 12 weeks, 42 have been in the 27406 zip code. This represents 32% of the 129 listed overall in Greensboro during that time. The closet to that number is in both the 27405 and 27410 zips, with 20 (15.5%) each.

Of the 11 listings, breakdown by type is:

• Single-family: 7
• Townhouse: 2
• Condominium: 2

For the pictorially fixated, here’s your weekly hit:

As always, whether the news is good or bad, you’ll see it here.

_________________________________________________________

If you have questions, comments or a good joke to share shoot me an email.  I’m a full time Realtor®, I love what I do and would be thrilled to hear from you.

* All data from Triad Multiple Listing Service (MLS) and is only as good as the information entered, which is done by humans, who make errors. The information is only for those residential zip codes for Greensboro and does not include the surrounding communities

Tags: Greensboro foreclosures, Greensboro housing statistics, Mutliple Listing Service, Triad MLS

Andy & Opie go fishing. "The Andy Griffith Show" is something we love to claim in NC. Some other things, not so much. But times have changed in Greensboro.

For those who are unfamiliar with Greensboro, particularly those from far flung parts of the country, it might be easy to think we are a city that resembles something between what one would see on the Andy Griffith Show and a Tennessee Williams play. And while we have our share of goofie characters, front porches and long, hot summers, we aren’t a city of homogeneous citizens.

In addition to our diverse general population, there is the fact that City Council just hired a new city manager, Rashad Young.

There are a few points to be made about Mr. Young’s hiring.

One is that he’s black. Another is that he joins our mayor, Yvonne Johnson, who is Greensboro’s 1st black mayor. And Mo Greene, superintendent of Guilford County Schools and Tim Bellamy, Greensboro Chief of Police, both black.

But the biggest point may be that the race of these elected and appointed professionals isn’t considered big news around here. (Well, it might be to a few. Like I said, we have characters, and we have folks with little character. Which means we’re like every other city in the world.)

But in general, we’ve continued to go about our respective lives, whether enjoying a cold local brew at Natty Greene’s, attending a silent protest against a regional conference of neo-Nazi’s held here (who knew they held conventions?) or just heading down to the ol’ fishing hole.

And, by the way, it’s still not a good idea to put a cat on a hot, tin roof. Then you get anything but a ’silent’ protest.

_____________________________________________________________
The thoughts & opinions are mine. The quips that fall flat are someone else’s. Please feel free to shoot me an email with a question or a good joke.

And remember, real estate agents aren’t bad. We’re just drawn that way.

Tags: DigTriad, Greensboro City Council, Greensboro Police Department, Guilford County Schools, Mo Green, Natty Greene's, Rashad Young, Tim Bellamy, Yvonne Johnson

Photo Credit: Jerry Wolford (News & Record)

The topic of FedEx coming to Greensboro has been news for a long, long time. And it’s been noted in this space a few times.

Time for another update.

Looks like the package delivery company’s operations will be ready to hit the road – or sky – running as soon as the economy is clearly on the way back up. The huge construction job of getting an additional runway in place to accommodate the planes and all the safety and navigation systems required are just about done.

Not only will this give FedEx the facility it needs for operations, but the enhanced systems will help Greensboro’s Piedmont Triad International Airport (PTI)the goods it needs to give Charlotte and Raleigh a run for their money.

This News & Record article about it gives good details.

And, not for nothing, but didn’t I tell you to learn the work ‘aerotropolis’? Cause, like I wrote before, whatever that is, we’re one.

_____________________________________________________________
The thoughts & opinions are mine. The quips that fall flat are someone else’s. Please feel free to shoot me an email with a question or a good joke.

And remember, real estate agents aren’t bad. We’re just drawn that way.

Tags: aerotropolis, FedEx, FedEx hub in Greensboro, News & Record, Piedmont Triad International Airport