Regular readers of this site know that my particular method of tracking all sorts of Greensboro real estate information is by zip code. Zip code profiles help drill down that information a bit further. This is the second such profile on this site. (My profile of 27410 can be found here. And, yes, it has been a minute since I did that profile. No sense in rushing these things;)  )

BTW, this is very broad information about local real estate, as reported in the Triad MLS. For a comprehensive look at demographics for this zip code, look here.

Today’s profile is of 27406.

First, the basics:

• 27406 is located in the southeast part of Greensboro, “southwest” being defined as south of Market Street and east of Elm Street.

• The average currently listed price of single family homes is $148,178, compared to that of all Greensboro zip codes, $249,784.

• 27406 is probably the largest zip area-wise and has the seconds most listings: 458 which represents 15% of the total listings in town at this time. 27410 is still king of the hill in that area with a whopping 622.

Current Listing Data (followed by same info for al zip codes combined)

• average active listing price (all property types): $146,510 ($223,107)

• single-family: 419 (91%), 2445 (74%)
• townhouses: 29 (6%), 482 (29%)
• condominium: 10 (2%), 357 (11%)

• foreclosure: 72 (16%) 264 (8%)

• highest list price (single-family): $899,000 ($4,900,00)
• lowest list price (single-family): $12,000 ($6,000)

12 Month Sales Data

Over the last 12 months, sales in the 27406 zip have looked like this:

• total number of closings (all property types): 418 (2,855)

• average closed priced (all types, last 12 months): $121,283 ($167,604)
• average list price (all property types): $146,510 ($160,356)
• average list/closed price percentage: 96% (96%)

• single-family: 295 (59%) 2,210 (77%)
• townhouse: 132 (27%) 386 (14%)
• condominium: 70 (14%) 245 (9%)

• foreclosure: 137 (33%) 565 (20%)

• highest closed price (single-family): $366,500 ($1,200,000)
• lowest closed price (single-family): $5,000 ($5,000)

Schools

Some of the schools children who live in 27406 attend are:

• Elementary: Alamance, Archer, Foust, Frazier, Gillespie Park, Lindley, Pleasant Garden, Sedalia, Southern, Sumner, Vandalia, Washington, Wiley
• Middle: Allen, Eastern, Hairston, Jackson, Kiser, Southeast, Southern
• High: Dudley, Eastern, Grimsley, Smith, Southeast, Southern

Some 27406 Listings

For your viewing pleasure….

3731 Williams Dairy Road (MLS# 570183) $239,900

5677 Old Randleman Rd (MLS# 565355) $279,500

1107 Glynis Lane (MLS# 576949)

331 Steeple Chase (MLS# 579043)

Keep an eye on this site for updates about this zip code and others.

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

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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.

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.

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

Gorgeous home in Greensboro (Listed by Yost & Little Realty)

…you would make note of the for sale sign in front and call the listing company. Then you would say something like,

“..Yes..I was on may way to work this morning and wanted to know about the house listed at 700 Country Club Drive. I was wondering how much they’re asking for it..”

Now, you may or may not have been in the market for a house. And you may or may not have been in a position to pay the $4.85 million dollars being asked. You would have spent another 90 seconds inquiring about bedrooms, bathrooms, size of the pool house (!) and all the other questions someone asks when they are – or want to appear to be – seriously interested in a house.

You would then either try to make an appointment to see it or tell the person on the other end of the line that you would be back in touch.

You would then move on to the next telephone number on your list and start the process all over.

Or you may not have had a specific address in mind but wanted to know what was on the market meeting your criteria. For that you might have scoured neighborhoods, the local newspaper, The Real Estate Book. All good sources.

Nowadays, though statistics state that over 80% of home buyers look to the internet when searching for a house.

You want to to know about the house at 700 Country Club Drive? You go to a online website and search. Or use the price, size, zip code parameters provided by the sites to drill down to the houses that are possible maybes.

There are MANY sites from which to choose. Some are pretty dead on with their data. Others, not so much.

Let’s take a quick look.

The data from most of these sites is pulled from various Multiple Listing Services (MLS). Every market is part of a MLS. That means that when a house is listed by a Realtor®, that property’s details are entered into the local MLS. (The Greensboro market is part of the Triad MLS). *

These feeds from the various MLS’s are what you see when you search a site. The breadth of MLS feeds and frequency of those feeds are what differentiate online real estate search sites.

• Realtor.com is the behemoth of the national network of MLS’s. All MLS’s in the country feed into the site and are updated every 24 hours.
• Yahoo! Real Estate is a popular site. Hmmm. I have issues with it.
• Homes.com – I have even more issues with it.
• Trulia.com
• Zillow.com
• listingbook.com – This is a great site not yet available to the entire country. It’s data is updated, at least from our MLS, every hour.

I performed a decidedly unscientific experiment. I looked to our local MLS and searched for properties listed in Greensboro zip code 27410. No other parameters.  Ther result was 499 listings. I then went to each of these sites and searched for the same sole criteria – 27410 zip code.

Here are the results, in order of accuracy:

• listingbook.com (498)
• Realtor.com (551)
• trulia.com (553)
• yahoo! (631) several properties were listed twice
  
• homes.com (55) I have no idea where the data feed is from
  
• zillow.com (4459) …..!!? I couldn’t make it drill down to the one zip code.
  

The point of all this is not to discourage using the internet to start the search for a house. I use the internet to search for everything from appliances to martini glasses. But know that some sources will have outdated or unclear information.

I may be missing a trick on a couple of these sites, but I tried to approach the process as would any other consumer.

In the end, what you want to do is make sure you’re getting the full picture on what’s available to you so you can make an educated decision. Just as you would if buying a washing machine.

Or martini glasses.

* There are sites that pull data only from their own company’s listings, some show public record information or show properties which are listed as For Sale By Owner (FSBO) where there is not a real estate agent involved.

That agent would look into the magical database, otherwise known as the Multiple Listing Service (MLS) where would be found in a glance the listing price, tax value, dimensions of the kitchen, which elementary school district the property is in and on and on.

Ah, those were the days.

These days, if a property catches your eye or if you want to find out what houses meet your criteria, the public has access to much of the same data as agents. There’s the grandmother of all real estate search sites, Realtor.com, as well as FrontDoor.com, listingbook.com, Zillow, not to mention the innumerable individual agent and company websites that have “search for listings” links in them (including this one).

In a future post I’ll examine the differing search results for these sites. They are most definitely not all on the same page. No pun intended.

So, who needs an agent? All they are good for is data and anyone can get that now. Right?

Honestly, that is all some agents are good for. Let’s face it, some real estate agents have not needed to be anything more than present over the past 5 years or so to make a living selling real estate.

But real estate doesn’t have the market cornered on members who don’t bring much to the table. There are doctors who can’t seem to relate to sick people (an odd career choice on their part), lawyers who offer no advise but merely carry out your suggestions and politicians who… Well, let’s not go there.

Getting past the ‘place holder’ agents who will undoubtedly need to find another line of work as the real estate market continues its interesting adjustments, there are good agent who offer qualities which have nothing to do with providing info on when a house was built, how many square feet there are and whether there’s gas heat or not.

They bring perspective, guidance, suggestions. They point out when your money will buy more house in the next neighborhood or when you’re about to get ripped off by your lender or whether the attorney your cousin suggested may be great for getting you out of a speeding ticket but may not be a good choice to handle a title search and decipher instructions from the mortgage lenders package.

Frankly, finding a house is not a great challenge. Particularly not these days. They’re’ EVERYWHERE!

But there is angst and fear associated with buying a house. There should be. It’s a big deal. A very big deal.

You don’t want to be in it alone.

Let’s say you find a house that interests you via one of the aforementioned resources. For the most part, if the property shows up on the online site, it has gotten there through a feed from a Multiple Listing Service.

That means, a real estate agent has listed it.

That means the seller has an real estate agent representing them.

Shouldn’t you?

So, bypassing an agent in searching for a house (BTW, working with a buyer’s agent doesn’t cost anything*) will not mean you bypass all agents. You just end up talking to someone who represents a seller.

Are Realtors® obsolete? Some are. Some started out that way.

But there are many, many honest, dedicated and enthusiastic agents who will help you through the process. And in buying a house, it’s the process that’s important.

* This holds true for most standards of practice. There may be some markets where buyers agents attempt to charge fees. That has not been the practice in the Greensboro area.