Winn Properties Video Real Estate Blog With Bo Winn

The numbers are in for Triangle real estate in 2016. They are up across the board, which is great news. Selling a home? Get a free home value reportBuying a home? Search all homes for sale The 2016 year-end numbers are in for the Triangle MLS. Overall, we saw some great things happening in our market. Sales were up 10% over the previous year and amazingly, the number of listings was down a full 12% as well. We got more sales out of less inventory, which is a sign of a fantastic market. On top of that, showings were up 5% and at the highest level since 2007. That was the last peak in the market. “ We got more sales out of less inventory. ”The average prices were up as well, as you can imagine. They were up 5% across the board and 6% for resale homes specifically. A full 17% of homes, almost 1 in 5, sold for above list price. Two-thirds of resale listings had a contract on them within 30 days of being on the market. We had a great year in 2016 and, by every indication, 2017 should be another great one. The one thing we do see that could be a bit of a problem is the shortage of inventory in most price ranges. If you’re a homeowner considering selling your home, now could be a very good time to list your property, particularly if you’re looking to trade up to a larger home. If you have any questions, please don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

Welcome to my webinar, Investor Magic: 8 Essential Rules for Maximizing Your Real Estate Investment. 

If you’re a seasoned investor, or want to be, this webinar will give you some tools to help you meet your real estate investing goals. At the end of this webinar, there will be a free offer to get you started on your way to a real estate investing career.

So what qualifies me to present this webinar?

I have over 25 years of real estate investing experience, have closed millions of dollars in transactions, am a certified commercial investment member (CCIM), and am also a certified real estate strategist. I also have a strong background in property management and have managed and owned over 85 properties.

Without further adieu, let’s get started with Investor Magic: 8 Essential Rules for Maximizing Your Real Estate Investment. You can follow along with this outline which corresponds with the above video.

I hope you enjoyed this webinar, and I look forward to connecting with you soon!

First off, let me wish all of you a happy holiday season and thank you for helping me have a successful year in 2016. I’m looking forward to an even better year in 2017.

Instead of talking about real estate, today I want to talk about something different that is near and dear to my heart. The Caring Community Foundation is an organization I am part of whose mission is to provide financial support for cancer patients in need by helping cover expenses that become difficult to manage during cancer treatment.

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Help us help those in need this holiday season.

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To date, we’ve been able to help more than 2,700 patients. This is a local organization that has been helping so many in the Triangle area, and they hope to expand further as time goes on.

We have raised a little under $2 million in total and we are looking to raise even more through your help and generosity. When cancer attacks a person, it affects their whole family. This is just one small way we are trying to give back to the community in need. If you can’t make a monetary donation, donations of time and energy are always appreciated.

If you want to make a donation to this great cause, just visit their website by clicking here.

I hope you all have a great holiday season, and I look forward to working with you in the future. If you have any questions for me, don’t hesitate to give me a call or send me an email. Until next time!

What’s happening in the Raleigh real estate market? Today I’d like to go over some of the numbers for our market and the surrounding areas to give you a better understanding of where we are and where we’re headed.

Home values have continued to rise due to the shortage of supply. However, trends show that new houses are being built while the resupply market has shown little to no change.

There are close to 6,000 properties on the market, and population growth is still about 30 people per day or 12,000 people per year in the Raleigh area. This means that supply is down because demand is up.

The average house is only on the market for 34 or 35 days, which is pretty amazing in itself. Because demand is high, we are usually seeing houses receive multiple offers, though this really depends on the type of property, where it’s located, and the price of that property.

Houses that are in good shape, are in the range of $100,000 to $300,000, and are in a fairly good location will receive about three to six offers on average. Almost the same can be said about multi-family properties in the two-to-four-unit range.

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Home values are rising due to a supply shortage.

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The short of it is that in some areas, the market will yield multiple offers, which makes it a seller’s market, while in areas with price points of $500,000 or higher, we’re looking at a buyer’s market.

There is potential for housing prices to increase sooner rather than later, so if you’ve been considering making a move, now may be the best time to do so. Also, it’s important to note that first-time buyers looking for a home in the Johnston County area may be eligible for $15,000 in down payment assistance. The best part about this program is that if these buyers stay in the home for five years or longer, that $15,000 will be forgiven!

If you’re looking to take advantage of the Raleigh market as a home buyer or home seller or you have any other questions about our market, don’t hesitate to give me a call or send me an email. I’d be happy to help you!

Finding the true value of your home and pricing it accurately is extremely important when you're selling.

When pricing your home, consider comparable homes. What have other homes in your neighborhood sold for recently and how do they compare in terms of size and amenities? You also need to consider competition—how many other homes are for sale in your neighborhood? Are you in a hot area or competing against new homes?

You must also consider contingencies. Do you have special concerns that would affect the price you would receive? For example, do you want to be able to move in four months or sooner? Have you already picked out a new home? Are you being transferred for your job?

To determine value, you can also get an appraisal. For a few hundred dollars, an appraiser can give you an estimate of your home's value, but be sure you ask for a market value appraisal. Similarly, you can also ask a lender. Since most buyers will need a mortgage, it's important that a home sale price is in line with the lender's estimate of the home's value.

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Homes priced incorrectly take much longer to sell.

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When pricing, it's critically important to be accurate. Studies show that homes priced more than 3% over the market value will take longer to sell. Also, think about what price you're willing to accept before you begin negotiating with a buyer.

Finally, you want to hire a sharp, aggressive Realtor to help you. It'll be well worth the money in the long run. If you have any questions for me or you're thinking of selling your home, give me a call. I'd love to work with you.

How do you know when it is time to sell your home? Here are six surefire signs that now is the time to make your move:

1. You feel cramped but you can’t add on. Your family might not be growing anymore, but that doesn’t mean your lifestyle fits in your current home.

2. You have too much space. Are you overwhelmed by vacant rooms and silence? Saying goodbye to a family home can be difficult, but consider whether or not it is feasible for you to stay. If yardwork or house upkeep is becoming too much to handle or utility bills are cramping your style, it might make more sense for you to move.

3. You’re over the neighborhood. Maybe you can no longer deal with the rigid HOA rules, or your neighbors turned their house into a rental for frat guys. Maybe the 40 minute commute to work wasn’t a big deal the first few years, but now it is. Neighborhood dynamics can change dramatically over time, and your life might change, too.

4. Remodeling won’t offer a return on your investment. Before making significant improvements to your home, you need to study your neighborhood. What are the highest price points in your neighborhood? If your home is already similar in style and condition to the pricier homes in the neighborhood, remodeling might be a bad idea. Consider selling instead.

5. You can afford to sell. You’ve got to spend money to make money, so seller, beware: you’re not going to be sitting around waiting for the cash to roll in from your home sale. You will have to invest some money in order to net more money from your home sale.

6. You are ready to compete. Most of us are living in a seller’s market these days. If that’s the case, you may be enticed to offload your home before the market cools off. However, don’t forget that once you sell your home, you will become a buyer in a seller’s market.

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If your neighborhood dynamics have dramatically changed, it may be time to move.

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If you still aren’t sure whether now is the time to sell your home, just give me a call or send me an email. I would be happy to sit down with you and discuss everything. In the meantime, if you have any other questions, please don’t hesitate to reach out to me. I would be happy to help you!

If you have a 30-year loan, there are ways to pay it off eight years sooner and achieve your financial freedom.

When you buy a home, you can choose between a 15-year mortgage and a 30-year mortgage. Although most people would prefer the 15-year mortgage, they probably can’t afford the higher monthly payments that come with that option, and have to choose the 30-year mortgage instead.

Make one extra payment a year to shave 8 years off your loan.

However, you can turn that 30-year loan into a 22-year loan. Simply make one extra payment a year. If that is too much, break that extra payment into bite-sized bits and add them to your regular payment. You can also switch to bi-weekly payments to achieve the same effect.

Making that extra payment is a good balance for those who want a 15-year loan but can’t quite afford it. This easy tip helps you achieve financial freedom eight years earlier.

If you have any questions, just give me a call or send me an email. I would be happy to help you!

Today we’ve got a quick market analysis for you for the Triangle real estate market. A lot of people are asking us the same thing, “Are we in a buyer’s or seller’s market?”

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This market benefits everyone.

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The truth is, we are in a unique market, and both buyers and sellers are benefiting from it. Our inventory is down to a 4-month supply, making it a pretty good seller’s market. A lot of properties are getting multiple offers, and many of those offers are over asking price.

At the same time, interest rates are still extremely low, and there are good buys in the market if you know where to look. All in all, this is a market that benefits everyone who is involved. 

If you have any questions for us or are looking to buy or sell in the Triangle, give us a call or send us an email. We look forward to hearing from you!