“Shadow Inventory” of Foreclosures is About to Be Released

April 18, 2012 By Tony Green, Realtor Leave a Comment

Shadow Inventory of foreclosures has caused a dam in housing inventory

Banks set to release pinned up “Shadow Inventory” of Foreclosures

According to CNN/Money the nation’s five largest banks have agreed to a $26 billion dollar settlement from a result of the robo-signing scandal of 2010. This means that the shadow inventory of potential foreclosures will be coming on the market soon. Many potential foreclosures have been in limbo since the announcement of banks not filing foreclosures properly near the end of 2010. Foreclosure filings have already increased for first quarter 2012 versus last year. This will most likely see a further reduction in home values, but should stabilize the housing market hopefully by 2013.

CNN/Money says a flood of foreclosures is coming soon in 2012

If you’re looking for a great deal on a Forsyth County (NC) foreclosure then check out our Forsyth County (NC) Foreclosure Search for current bank owned MLS listings.

Tony Green, Realtor

Tony Green is REALTOR® who works in Winston Salem, Clemmons, and Lewisville NC and the owner/broker of EXIT Realty Elite. He attended Appalachian State University (go App!) and graduated with a BSBA in finance and real estate. He likes walks on the beach, cute little puppies, and smash mouth wrestling...and maybe a little humor from time to time. :D Tony looks forward to serving you and helping you with your real estate needs.

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Masters Champion Bubba Watson’s High Rock Lake House for Sale

April 12, 2012 By Tony Green, Realtor Leave a Comment

Bubba Watson Masters Champion has his High Rock Lake front home for sale

Bubba Watson’s lake front home listed for sale

Bubba Watson, recently crowned Masters Champion, is selling his lake front home at

Photo: Realtor.com

High Rock Lake in Lexington, NC. The home came on the market in February and is listed for $1.45 million. Watson and his wife paid $1.1 million for the home in 2009. With his popularity rising, there is a good chance they will get close to listing price. The couple’s primary home is in Scottsdale, AZ and would normally spend their summer at the High Rock Lake home. With their recent adoption of a baby boy in Florida, they are renting in Orlando until the adoption is finalized. Read more of the story at Yahoo Real Estate: Masters Champion Bubba Watson Selling Lake Home

Bubba Watson's incredible hook shot.

If you watched the final day of the 2012 Masters Golf Tournament, you might have seen Bubba’s shot to the green on #10. In my opinion, the shot was one of the best shots in golf history. The Masters is the most prestigious tournament to win, so the pressure on golfers at the Augusta National Golf Course is extremely high. Bubba was in a playoff with Louis Oosthuizen and ended up in trouble in the woods. His next shot was a hook that the left-hander had to draw 30-40 yards and ended up on the green. Two putts later, he’s the 2012 Masters Champion and putting on the legendary “Green Jacket”.

If you haven’t seen the shot, watch the video at the following link. It’s sick!!! Bubba Watson’s Amazing Golf Shot on #10 at the Masters

If you would like to schedule a showing to see Bubba Watson’s home for sale at 178 Foxglove Lane in Lexington, NC, fill out the contact form below or you can give me a call at 336.287.4423. I’m looking forward to helping you find your dream home.

Tony Green, Realtor

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Forsyth County Existing Home Sales Up 47.3% in Feb

April 4, 2012 By Tony Green, Realtor 1 Comment

Forsyth County Home Sales are up in August 2011

Winston-Salem Housing Market on the Rise

The local Winston-Salem Board of Realtors recently reported that existing-home sales in the Forsyth County area were up 47.3% in February, 2012 compared to February of last year.

Local real estate agents sold 383 homes compared to 260 for the same month last year. These numbers were from the Triad MLS.

The February sales were also an increase of 31.6% from January, 2012.

Average sales price of homes jumped to $135,800 in February compared to $134,700 last year. This is one of the most encouraging signs for the economy as we have been seeing an increase in sales over last year, but not prices. It was a slight decrease from the average price in January, 2012.

Another positive factor is this increase is in typically one of the slower months. Warmer weather this winter, low mortgage rates, and pinned-up interest from many home buyers who have been waiting for the right time to buy are a few of the reasons for the increase in home sales.

Primary interest from home buyers continues to be in the $150,000 and below market.

Tony Green, Realtor

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5 Tips for Selling Your Home in a Buyer’s Market

March 8, 2012 By Ryan @ HomeCityNews.com Leave a Comment

House for Sale with SOLD Sign and Couple Hugging

Five Tips for Selling Your Home in a Buyer’s Market

At the moment, the housing market is in favor of buyers. There are nearly double the amounts of homes on the market than there were a few years ago. This can mean low housing prices, which is good for a buyer, but not very profitable for the seller or the list agent. Don’t despair! There are a few things you can do to help sell your home and move on to your next property.

Home Selling Tip # 1. Be Realistic [Read more...]

Ryan @ HomeCityNews.com

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Bathroom with a Tiny Tub…

March 7, 2012 By Tony Green, Realtor Leave a Comment

Have You Ever Seen a Bathroom with a Tub This Tiny?

I’ve been in a lot of houses…I mean a lot! But I’ve never been in a bathroom in a tub this tiny…have you? I spotted this one in a home built in the late 60′s off Jonestown Rd. in Winston-Salem. When you go in a home you’ve never been in before, it’s kind of like a box of chocolates…you never know what you’re gonna get! But it’s always a lot of fun!

A tub fit for a baby...

Tony Green, Realtor

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January Existing Home Sales for Winston-Salem Area Flat

March 2, 2012 By Tony Green, Realtor Leave a Comment

Sold Home Sign - Buyer gets the key to their new house

Winston-Salem area existing home sales were near unchanged for January 2012 against January 2011 home sales.

There were 291 houses that sold in January 2012 which was less than 1% higher than the previous year.

January sales were down 20.3 percent from December 2011 when 365 homes sold.

The average sales price for January 2012 was $138,540. This was a decrease of 5.3% from $146,240 in January 2011 and almost 8% from $150,140 in December 2011.

There is still a lot of unsold inventory under $150,000 and many of the January home sales were investors buying cheaper investment properties. This is one reason the average sales price of local homes is lower. This isn’t necessarily a bad thing, but just part of the housing cycle.

Banks are still holding back inventory, so there is good chance this lower priced inventory will hold the average sales price down for awhile. However, with the spring market upon us and many first time home buyers entering the market, there should be greater demand for many of these homes.

If you are considering selling your Winston-Salem, Clemmons, or Lewisville home and need a Highest and Best Price Analysis, give me a call or text and I’ll be glad to help. 336.287.4423.

Or if you are ready to purchase your first or next home in Winston-Salem, Clemmons or Lewisville sign up for our VIP Home Buyer Service and get listing alerts by email.

Tony Green, Realtor

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505 Trent Court Winston-Salem, NC Condo for Rent

February 27, 2012 By Tony Green, Realtor Leave a Comment

Winston-Salem Condo for Rent

This 2 Bedroom and 1 Bath condo at 505 Trent Court is currently available for rent. The condo is in Cloister Oaks, 900 sq. ft., includes all appliances including a new Washer/Dryer. It’s only minutes from Wake Forest Baptist or Forsyth hospital. It’s also convenient to Salem College, Winston-Salem State, and North Carolina School of the Arts. You can be on I-40 or Hwy 52 in only a few minutes. Water/sewer/trash & lawn care included. There is also an outdoor patio w/ storage closet, a community pool, and fireplace with gas logs. Non-smoker. $675/mo.

Tony Green, Realtor

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Winston-Salem’s Wells Fargo Center Office Tower for Sale

February 24, 2012 By Tony Green, Realtor Leave a Comment

One of Winston-Salem’s Most Recognizable Landmarks is For Sale

The Wells Fargo Center is now on the market. The building, previously known as the Wachovia Center, is at 100 North Main Street in downtown Winston-Salem, NC. It is the tallest building in the Piedmont Triad at 460′ and is 29 stories tall. With over 549,000 square feet and a 1015 space parking garage, it’s the largest Class A office space in the Triad. The tower was designed by Cesar Pelli, who has designed some of the world’s tallest buildings, and built in 1995.

The building is owned by 601W Companies, a New York real estate firm. The company purchased the building in 2008 for $36 million. They have hired HFF, a Houston based commercial real estate firm, to market the property (Wells Fargo Center Executive Summary). The building is being marketed without a formal asking price.

According to HFF, The building is 95.8% leased with credit-rated financial service firms (Wells Fargo, Deutsche Bank Securities and Morgan Stanley Smith Barney), the Department of Veterans Affairs and Wake Forest University Health Sciences.

Wells Fargo leases 60 percent of the space and has close to 13 years remaining on its lease, according to HFF. Triad Commercial Properties is the leasing agent for the property.

Image provided by HFF.

Tony Green, Realtor

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Lower Buyer Closing Costs with Seller Financing

January 18, 2012 By Tony Green, Realtor Leave a Comment

Lower Buyer Closing Costs with Seller Financing

A recent survey by MortgageIT.com revealed that the average new homeowner paid closing costs in the neighborhood of $3500-$5500. If you could find an alternative means to finance your home and lower these costs, would you jump at it?

Mortgage Closing Costs by State - 2011

Despite today’s low interest rate environment, lower closing costs can provide strong incentive to use creative seller financing alternatives — benefiting both the buyer and the seller.

Closing costs can be difficult to tie down. As a general rule, cost variables depend on the property location, local custom, type of transaction and/or financing, the parties’ negotiated agreement, time of year, housing market, and even one’s choice of realtor, title company, lender, and escrow agent.

Buyer Closing Costs

For buyers, the deal is the most attractive, which is one reason why owner financing [Read more...]

Tony Green, Realtor

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Existing Home Sales Up in Winston-Salem Area for Fifth Consecutive Month

January 2, 2012 By Tony Green, Realtor Leave a Comment

The Winston-Salem real estate market continues to improve as existing home sales were up in November, 2011. This was the fifth consecutive month that sales were up over the same month last year. 346 homes sold during November which was up 9% from a year ago. Home sales were also slightly up from October.

The increase in sales is obviously a good sign for the local housing market, however the average sales price is slightly lower. The average sales price for the month was $151,000 versus $164,000 for November, 2010.

Pricing has seemed to stabilize over the last several months, but the number of foreclosure properties continues to hold prices down. There are currently almost 500 bank owned properties in Forsyth County (NC). With lower prices and near record low interest rates, buyers are taking advantage of the current market.

With average home sales for December, the Winston-Salem area housing market will have it’s best sales year since 2008. There were 4522 houses sold in 2009 and 4560 homes sold in 2010. Through November, there have been 4266 houses sold. It looks like there will be over 4600 units sold in 2011. With these numbers, it appears the real estate market is slowly making a comeback. This should give sellers and real estate agents something to look forward to in 2012.

If you’re thinking about selling your home in the Winston-Salem, Clemmons or Lewisville area, be sure to check out our Digital Marketing Strategy that gets your home SOLD!