By Karin Head, The Head Team, Keller-Williams Realty Elite
Have you ever wanted a place to truly call your own? Are you ready to put down roots in Winston-Salem, for yourself or your family? If the answer to either of those questions is yes, this could be the year your dreams become a reality – by taking advantage of the positive momentum in the Winston-Salem real estate market.
The housing market has gone through a great deal of changes since 2008, most of which have greatly benefitted buyers across the country. And while prices for sellers have stabilized, 2016 is still the prefect time for home buyers in Winston-Salem to take advantage and find the property they have always wanted. Here are several reasons why 2016 is the perfect time to buy a home in our area:
- Interest rates are still low: In late 2015, analysts began speculating that the Federal Reserve Bank would slowly begin raising interest rates this year. However, those increases have not yet materialized, and mortgage rates have remained low for the first few months of 2016, and according to analysts, will remain so at least through June. So what do lower mortgage interest rates mean to homebuyers? Simply put, the lower the interest rate, the lower a person’s monthly payment on a home, and less interest to be paid over time!
- There’s great inventory in the area: No matter your lifestyle or budget, Forsyth County has numerous desirable neighborhoods – and there are homes available in all of them! Through the end of February, there were nearly 1,900 homes listed for sale in the area, and this is before the Spring real estate season really kicks off this month! In addition, that are more than 735 homes under contract, meaning that there are more than 2,600 active and pending homes in our market.
- Right now, Forsyth County is still a largely a buyer’s market, and potential homeowners can take advantage of the number of homes available. So whether you’re looking for a condo downtown, a historic home in West End, a move to the suburbs of Clemmons, Lewisville or Kernersville, or are looking for new construction, there are plenty of homes (and price points) to choose from! And if you don’t see it, your agent will find it!
- Houses are still priced at a great value: Another great benefit of a buyer’s market is that many homes throughout Forsyth County are competitively priced. Real estate agents in the area are working with their sellers to ensure that homes are not priced out of the market. And sellers are being realistic about home values. As a result of the competition, buyers are currently able to get tremendous value in their home purchases.
- Homeowners can qualify for tax deductions: When it comes time to file taxes, it is definitely more advantageous to be a homeowner versus a renter. Homeowners are able to deduct the interest paid toward their mortgages on their year-end tax returns, potentially creating tax savings or, in some cases, tax returns. These deductions are not available to those who rent.
Buy a home is an important decision in life, and most buyers want to make sure they find the right home, in the right location, at the right price. Fortunately, 2016 is shaping up to be a great year for home buyers in Forsyth County. If you have been considering buying a home, this may be the perfect year to take advantage of a great 2016 for area real estate – and make your dreams come true!
Karin Head has been working to make North Carolina home buyers’ and sellers’ dreams come true since 2009. She is the Broker/Owner of The Head Team – Keller Williams Realty Elite. For more information or to view listings, please visit HERE , email karin [at] karinhead.com, or call 336/283-8687.
*Editor’s Note: “Camel City Properties” will be a new, monthly feature focusing on the Forsyth County real estate market.