Closing Conducted by: | Attorneys, Lenders |
Conveyance: | Warranty Deed |
Primary Foreclosure Method: | Non-Judicial |
Process Period: | 2 - 4 months |
Notice of Sale: | Sheriff |
Redemption Period: | 10 Days |
Income Tax: | 5.75% |
Corporate Tax: | 6.90% |
Sales Tax: | 4.75% |
Estate Tax: | No |
Inheritance Tax: | No |
Median Property Tax: | 0.78% |
Property Taxes by County: | http://www.tax-rates.org/north_carolina/property-tax#Counties |
Closing Cost: | $2,602.00 |
Transfer Fee: | 0.2% & 0.4% (local option to increase) |
Origination Fee: | $1,887.00 |
Median Home Value: $208,001
1-Year Appreciation Rate: +5.2%
Median Home Value (1-Year Forecast): -1.3%
Median Rent Price: $1,395
Price-To-Rent Ratio: 12.20
Average Days On Market (Zillow): 78
Unemployment Rate: 8.5% (latest estimate by the Bureau Of Labor Statistics)
Population: 10,488,084 (latest estimate by the U.S. Census Bureau)
Median Household Income: $52,413 (latest estimate by the U.S. Census Bureau)
Percentage Of Vacant Homes: 14.27%
Foreclosure Rate: 1 in every 11,868 (0.8%)
Zirconia
North Topsail Beach
Topsail Beach
Mill Spring
Eure
Surf City
Asheville
Wrightsville Beach
Hot Springs
Jones: (1 in every 2,474)
Onslow: (1 in every 3,227)
Edgecombe: (1 in every 4,148)
Camden: (1 in every 4,197)
Forsyth: (1 in every 4,374)
Tax Lien or Deed: Tax Deed State (Auctions called: Property Tax Foreclosure Sales)
Redemption Period: 10 day upset period after sale. Anyone can bid 5% of $750.00 more and with this trigger a re-sale
Winston-Salem should see an influx of buyers: With a median home value of $152,337, the Winston-Salem real estate market is well below the state average. As a result, there’s a good chance more people will look to Winston-Salem as a means of escaping today’s relatively high prices everywhere else. The added attention should turn into more buyers, and create more activity, which will bode well for local investors. The unique affordability, combined with appreciation potential, may be able to create the perfect investor environment.
Foreclosures should continue to rise: With one of the highest foreclosure rates in the country already, it is fair to assume the trend will continue before it gets better. Expect foreclosure filings to rise for now, but the market should return to a more normal rate as things begin to temper.
Home values will rise sooner rather than later: The Coronavirus has suppressed price growth since it took hold in March. However, confidence in the market is growing, and the lack of available housing should increase prices sooner rather than later. The lack of listings will increase competition and allow owners to raise prices later in the year, and perhaps even into 2021.