Questions on Foreclosures

Recently I have received a number of inquiries about foreclosures and what they mean in the local market. I have repeatedly told everyone that while yes the percentage of foreclosures are up the overall real estate market in our area of North Carolina is doing well. Looking at the statistics available from our MLS (multiple listing service) the triad area has actually had an increase in the average sales price and a decrease in the days on market. Basically this is saying that the area is continuing on a steady rise in value. The combination of the new incoming industry and the lack of any kind of "real estate bubble" has made the Triad an attractive area for families and businesses.