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Greensboro, Winston-Salem, High Point The Triad Area
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Old 07-08-2006, 05:10 PM
 
Location: Midwest
104 posts, read 302,707 times
Reputation: 94

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Hi,
My husband and I just moved to Greensboro and have a few questions about the housing market in Greensboro. We've noticed that houses are sitting on the market for a long time. Another trend seems to be asking $30k give or take then the house is worth and after 10 months the sellers finally reduce their price. Is the area growing and that up-and coming to warrant these over-priced homes or are the sellers just being a bit greedy? We see more affordable homes out there, but we are primarily interested in the historic neighborhoods around downtown. Any thoughts on where the Greensboro real estate market is headed?

Thank you!
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Old 07-09-2006, 02:49 PM
JAS
 
Location: Metro Atlanta
569 posts, read 1,775,920 times
Reputation: 514
Default Gso

The housing market in Greensboro is generally a buyer's market for two reasons (based strictly on my opinion, for whatever that's worth):

1) GSO doesn't have the transplants like Charlotte and Raleigh; therefore, there isn't a huge demand from newcomers, especially those who are accustomed to higher prices, and
2) There is a LOT of open land and pastures surrounding GSO that families are now selling off for housing developments. The supply for new houses is very high in Guilford County, and people would generally rather have a new house with new features if given the choice of a new versus existing house (unless you're looking for a specific, older neighborhood such as Sunset Hills where the older houses sell at a premium).
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Old 07-14-2007, 07:45 PM
 
186 posts, read 503,120 times
Reputation: 63
How is the market now, just wanted to bump this thread.
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Old 07-15-2007, 11:34 AM
 
Location: High Point, NC
28 posts, read 116,381 times
Reputation: 16
Quote:
Originally Posted by Markey View Post
Hi,
My husband and I just moved to Greensboro and have a few questions about the housing market in Greensboro. We've noticed that houses are sitting on the market for a long time. Another trend seems to be asking $30k give or take then the house is worth and after 10 months the sellers finally reduce their price. Is the area growing and that up-and coming to warrant these over-priced homes or are the sellers just being a bit greedy? We see more affordable homes out there, but we are primarily interested in the historic neighborhoods around downtown. Any thoughts on where the Greensboro real estate market is headed?

Thank you!

People price their homes based on the current neighborhoods value. If those folks cut prices they depreciate the value in the neigborhood. I understand we are in a slow market currently, everyone has a house to sell, in order to move the house sometimes you need to cut the price down, that will depend on how badly the seller wants to move the home.

I think the next few months will continue to be slow in the triad, however I see 2008 looking to be a brighter and better year for sales.

Good Luck!
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Old 07-15-2007, 03:39 PM
 
6 posts, read 21,943 times
Reputation: 13
We are thinking about moving to Greensboro. Good school is our top priority. Could you please share info about following 8 points ?

Greensboro:

1. Housing cost for 4 bed room , 2. 5 bath housr price. 3500 squarefeet.
2. Car insurance on: 2006 Camry and 2005 Honda mini van.
3. Property tax for per 100,000 home value.
4. In general school standard.
5. Best public school [ Middle, highschool ]
6. Crime rate.
7. Future job growth
8. Economy.
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Old 07-01-2010, 10:03 AM
 
1 posts, read 3,729 times
Reputation: 10
Northwest High School - Northwest Schools! I moved to Greensboro in 1992 and raised both children in this school district. It cannot be beat!
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Old 07-01-2010, 12:50 PM
 
11 posts, read 20,724 times
Reputation: 12
I would agree with JAS. I moved here in March, and there is a large housing inventory in the GSO area. I am still looking, but what I found what that there are lots of houses from 5-7 years old, selling at the same price as new construction. Since the sellers don't seem willing to budge (they probably bought at the height of the market, and may now be under water, so they don't want to lower the price) on prices. For my money, I decided to only consider new construction. For those that want to be in specific older neighborhoods, you probably will have to pay a premium price and not get features, such as an attached garage, central air conditioning, etc.

It will largely depend on what is important to you (some people don't care about an attached garage-I am from NY, and I want one in the event of inclement weather) such as school districts, etc. What I have noticed is that many people consider anything longer than a 15 minute drive a long commute, so those that live in certain areas can command a premium price, since they live in an area that is close to major employers, like UNCG, the hospitals, etc.
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