Looking for North Carolina Triad Area Realtor and Neighborhood Recommendations

[NateW]

DW and I are looking to purchase a new home in the Winston-Salem/Greensboro North Carolina (Piedmont Triad) area and plan to visit the area as necessary to find one. If you know of a good realtor that is familiar with the area, please reply with his/her contact information.

Also looking for neighborhood suggestions. We wish to purchase a house with the following characteristics: 2,500 - 3,500 SF; master bedroom on main level; quarter acre or larger lot; has natural gas heat, public water, and public sewer; and is in a newer, quiet neighborhood with some mature trees.

Any comments pro or con about the Triad area also appreciated.

I know we should probably see if we really like the area and rent for a year first, but are concerned housing inventory will shrink further and prices will rise quite a bit more if we wait. We were looking in Virginia, but gave up. The housing situation is dire there with houses selling in a day or two, and with multiple offers on almost all properties (and the prevailing offer is up to 50% above list), and there is only about half a month of inventory (6 months is normal). The prices are a bit lower in NC, the inventory larger and a much higher percentage of the homes have 1st floor masters we have noticed.

Thanks!

 

[RetireeRobert]

.....but are concerned housing inventory will shrink further and prices will rise quite a bit more if we wait. We were looking in Virginia, but gave up. The housing situation is dire there with houses selling in a day or two, and with multiple offers on almost all properties (and the prevailing offer is up to 50% above list), and there is only about half a month of inventory (6 months is normal). .......
Thanks!

I can understand wanting to get into a house now before prices shoot up anymore.

Not to be discouraging, but the real estate price escalation condition I believe is pretty much nationwide.

Portland TV news just yesterday said Portland homes around the metro area were selling usually with multiple offers, and they cited three examples of homes that had sold for $90,000 and $100,000 OVER list price---with "all cash" offers!!.

In my own area 60 miles south I just saw an area realtor post on her Facebook page that Keizer (small city with much lower median sales price for homes) homes were selling at average at $25,000 over asking price! Again home for sale usually have multiple offers. And the inventory situation you mentioned is the same here in Oregon---less than one month where five months is considered "in balance".

I am afraid the government's printing press of money with trillions of spending bandied about as if nothing, combined with the Federal Reserve artificially holding down interest rates, is rapidly devaluing our hard earned dollars-----inflation in fact, if not in the government's "official" inflation measures.

 

[latexman]

I expect builders and developers have seen whats going on, and will soon start rolling out more/too much inventory built with sky high lumber prices.

Our realtor called us a few weeks ago, saying she had a buyer for our home. But, we were not trying to sell. We bought it three years ago for $400k. I told her the sale price was $600k cash, as-is, no inspections. While she said she'd tell the buyers, we have not heard back from her. I hope we don't.

I live near the Triangle area (Raleigh, Durham, Chapel Hill), not the Triad area.

 

[JoeWras]

DW has an old friend who is a full time realtor in the area, but she specializes in the smaller areas north of G'boro (Eden, NC). If you prefer smaller town and more country, she would probably be worth an interview. Prices are cheaper that way. PM me if you want a link. I don't have any personal experience with her work, though, just character reference which is good.

I think the Triad area has a lot going for it, even though you don't see it at the top of a lot of lists. Keep in mind the vibe tends toward old industrial, while Charlotte has the banking history, and RDU has the government and tech. The Triad sometimes draws their own events with the decent arena/convention center in G'boro. But if not, it is a short drive to Charlotte or RDU. Mountains are closer, beach is farther. My favorite state park in the Southeast is in the back yard (Hanging Rock, SP). G'boro has my favorite minor league team and park (Greensboro Grasshoppers).

 

[NateW]

I can understand wanting to get into a house now before prices shoot up anymore.

Not to be discouraging, but the real estate price escalation condition I believe is pretty much nationwide.

Portland TV news just yesterday said Portland homes around the metro area were selling usually with multiple offers, and they cited three examples of homes that had sold for $90,000 and $100,000 OVER list price---with "all cash" offers!!.

In my own area 60 miles south I just saw an area realtor post on her Facebook page that Keizer (small city with much lower median sales price for homes) homes were selling at average at $25,000 over asking price! Again home for sale usually have multiple offers. And the inventory situation you mentioned is the same here in Oregon---less than one month where five months is considered "in balance".

I am afraid the government's printing press of money with trillions of spending bandied about as if nothing, combined with the Federal Reserve artificially holding down interest rates, is rapidly devaluing our hard earned dollars-----inflation in fact, if not in the government's "official" inflation measures.

Thank you RetireeRobert. I'm not happy with the Fed's current monetary policy. We are able to make a cash purchase for the new house and then sell our current house after we move. Our cash has earned very little at the current rock bottom interest rates and the low interest rates have increased home demand, driving up prices and making it quite difficult for us to buy a home, not for lack of funds, but because homes sell right away and there are so few to choose from.

 

[NateW]

I expect builders and developers have seen whats going on, and will soon start rolling out more/too much inventory built with sky high lumber prices.

Our realtor called us a few weeks ago, saying she had a buyer for our home. But, we were not trying to sell. We bought it three years ago for $400k. I told her the sale price was $600k cash, as-is, no inspections. While she said she'd tell the buyers, we have not heard back from her. I hope we don't.

I live near the Triangle area (Raleigh, Durham, Chapel Hill), not the Triad area.

Thank you Latexman. A long-time friend (we met in junior high school) lives outside of Raleigh and we visit. The triangle area (and the Charlotte area for that matter) are too busy for us. We lived in the Washington DC area for many years (and I commuted into DC daily during much of that time). I would like a slower pace now.

We looked into new construction, but it will take too long. We have to move by the end of November.

 

[NateW]

DW has an old friend who is a full time realtor in the area, but she specializes in the smaller areas north of G'boro (Eden, NC). If you prefer smaller town and more country, she would probably be worth an interview. Prices are cheaper that way. PM me if you want a link. I don't have any personal experience with her work, though, just character reference which is good.

I think the Triad area has a lot going for it, even though you don't see it at the top of a lot of lists. Keep in mind the vibe tends toward old industrial, while Charlotte has the banking history, and RDU has the government and tech. The Triad sometimes draws their own events with the decent arena/convention center in G'boro. But if not, it is a short drive to Charlotte or RDU. Mountains are closer, beach is farther. My favorite state park in the Southeast is in the back yard (Hanging Rock, SP). G'boro has my favorite minor league team and park (Greensboro Grasshoppers).

Thank you JoeWras. Yes, the Triad is definitely manufacturer centered. We plan to research potential neighborhoods with that in mind to lower our chance of purchasing in an area with air and/or water pollution or one that is noisy or dusty from manufacturing operations.

I am a mountains and woods person and not a beach goer. That is one of the reasons we chose the Triad area.

After we settle in I would like to make friends with other retirees and perhaps volunteer and really begin to enjoy my retirement. As you probably know, I am not able to do that in our current living situation, thus the reason we are moving.

Sending you a PM; thanks again.

 

[RetireeRobert]

..... and the low interest rates have increased home demand, driving up prices and making it quite difficult for us to buy a home, not for lack of funds, but because homes sell right away and there are so few to choose from.

I have been considering downsizing myself, and have been looking for homes closer in to town. Your situation as stated above is exactly where I find myself as well. I can buy another smaller home first with all cash, then sell my large home. But I am not finding a smaller home I want. The few that even remotely pique my interest are gone for over list before I can even blink my eyes!

Yes, my large home is shooting up my net worth. But I do not like this situation that is cheapening all our dollars.

 

[Bamaman]

Thank you JoeWras. Yes, the Triad is definitely manufacturer centered. We plan to research potential neighborhoods with that in mind to lower our chance of purchasing in an area with air and/or water pollution or one that is noisy or dusty from manufacturing operations.

I am a mountains and woods person and not a beach goer. That is one of the reasons we chose the Triad area.

After we settle in I would like to make friends with other retirees and perhaps volunteer and really begin to enjoy my retirement. As you probably know, I am not able to do that in our current living situation, thus the reason we are moving.

We had some employees transfer up to Greensboro (from Atlanta area), and they found it to be a very good place to live. But the last combined population numbers for Winston-Salem and Greensboro are about 1,470,000. It's no backwoods place to live with just about every need covered.

Our family loves the mountains, and we have a place in NW Georgia 65 miles from the edge of Atlanta suburbs. My sister has a house in Banner-Elk, NC, and they just love those mountains (6000 ft. elevation.)

There's no substitution for feet on the ground, however. I'm glad we moved 18 mos. ago as time is of the essence in the current real estate market.

 

[JoeWras]

Hi NateW. I sent you a PM.

Although the Triad isn't a backwater, it is a bit more relaxed than the other cities. And you like mountains. So, sounds like you are on the right track.

Additionally, if you don't mind moving to a more rural place close to the Triad, you'll find the prices are surprisingly affordable. It is up to you.

Be aware the more rural NC counties also lean politically certain ways. The people are friendly, just be aware which way topics will lean. I wish we could all get along better. I'm just writing this as a head's up. I live in the city and lean differently than my neighbors and survive, so it is do-able.

 

[harllee]

If you do decide to look at rural areas in NC be sure you can get high speed internet. There are still many areas in NC that lack good internet.

 

[NateW]

We had some employees transfer up to Greensboro (from Atlanta area), and they found it to be a very good place to live. But the last combined population numbers for Winston-Salem and Greensboro are about 1,470,000. It's no backwoods place to live with just about every need covered.

Our family loves the mountains, and we have a place in NW Georgia 65 miles from the edge of Atlanta suburbs. My sister has a house in Banner-Elk, NC, and they just love those mountains (6000 ft. elevation.)

There's no substitution for feet on the ground, however. I'm glad we moved 18 mos. ago as time is of the essence in the current real estate market.

Thanks Bamaman. I was surprised to learn the Triad area had so many people. That's still about 1/5 the number of people where I lived for 50 years prior to ER'ing.

We moved about 18 months ago too (a few months after I ER'ed), out to the country and thought we had it made. Have a beautiful house in a nice new neighborhood I hate to leave, but there's a wood smoke problem we just can't live with. It's unfortunate it happened during the pandemic and when the supply of houses is at a historic low.

I have read that once most of the general population is vaccinated, more houses should come on the market due to people who held off selling because they did not want people in their house, putting their houses on the market because the risk of infection will be low. I'm hoping its a lot more houses than anticipated.

We won't travel to NC until I am fully vaccinated. I had my first shot two days ago. DW is fully vaccinated.

 

[NateW]

Hi NateW. I sent you a PM.

Although the Triad isn't a backwater, it is a bit more relaxed than the other cities. And you like mountains. So, sounds like you are on the right track.

Additionally, if you don't mind moving to a more rural place close to the Triad, you'll find the prices are surprisingly affordable. It is up to you.

Be aware the more rural NC counties also lean politically certain ways. The people are friendly, just be aware which way topics will lean. I wish we could all get along better. I'm just writing this as a head's up. I live in the city and lean differently than my neighbors and survive, so it is do-able.

Thanks for the heads up on political leanings. I'm going through that now with my best friend from high school; we are on opposite sides of the fence, politically. We are ok with it; its DW and his wife that are having problems with it.

We don't mind more rural as long as we can get deliveries and are relatively close to medical care.

 

[harllee]

Regarding medical care, NC has excellent medical care--Greensboro has a very good hospital--Cone Hospital. Winston Salem has Bowman Grey Medical School at Wake Forest University and it has a hospital. If a person needs more specialized care then there is UNC and Duke. If you want to spend a lot of time in the mountains then Winston -Salem may be the best place to look. It is only 1.5 hours from Winston Salem to Boone in the mountains Hwy 421, a good 4 lane highway.

If you want cool mountain air in the summer you need to get to the higher elevations--like the Grandfather Mountain and Banner Elk area which is around 6000 feet and has wonderful summer weather. I spend my summers in Banner Elk.

There is a very nice community a few miles west of Winston Salem called Bermuda Run. Looking at Realtor.com there seems to be some reasonably priced homes for sale there. It would be more out in the county but should have all the facilities you would want and has an excellent golf course if you are a golfer.

 

[Bamaman]

Thanks Bamaman. I was surprised to learn the Triad area had so many people. That's still about 1/5 the number of people where I lived for 50 years prior to ER'ing.

We moved about 18 months ago too (a few months after I ER'ed), out to the country and thought we had it made. Have a beautiful house in a nice new neighborhood I hate to leave, but there's a wood smoke problem we just can't live with. It's unfortunate it happened during the pandemic and when the supply of houses is at a historic low.

The current real estate market is crazy with homes being sold in bidding wars, etc. Maybe you'll get a strong price for your "new home." The driver of so much traffic is all time low interest rates and millennials purchasing homes for the first time for monthly payments no higher than renting nice apartments.

A popular website covering migration is City-Data.com. You might consider posting your questions about moving into the region there.

The hot spot in the South right now appears to be Cookeville, Tennessee--a college town where home prices and taxation are much more favorable. It's 80 miles east of Nashville on I-40.

 

[NateW]

Regarding medical care, NC has excellent medical care--Greensboro has a very good hospital--Cone Hospital. Winston Salem has Bowman Grey Medical School at Wake Forest University and it has a hospital. If a person needs more specialized care then there is UNC and Duke. If you want to spend a lot of time in the mountains then Winston -Salem may be the best place to look. It is only 1.5 hours from Winston Salem to Boone in the mountains Hwy 421, a good 4 lane highway.

If you want cool mountain air in the summer you need to get to the higher elevations--like the Grandfather Mountain and Banner Elk area which is around 6000 feet and has wonderful summer weather. I spend my summers in Banner Elk.

There is a very nice community a few miles west of Winston Salem called Bermuda Run. Looking at Realtor.com there seems to be some reasonably priced homes for sale there. It would be more out in the county but should have all the facilities you would want and has an excellent golf course if you are a golfer.

Thank you Harllee for your comment about high speed internet and Bermuda Run. We'll explore that possibly. It's also great to read good medical care is available.

My long time friend in Raleigh posts pictures on FB of him in Boone and it's just beautiful country.

 

[H2ODude]

Have lived in midwest, northeast, and 20 years in FL. Have been in Triad for 24 years and I like the seasons and the size of the city. Will pm you more details. i will say that people say it's near the beach and the mountains, but as far as the beach goes it's 4 hours or so, when working that's too long a drive for a weekend IMO. At risk of getting booted for saying something political, you can also choose your color pretty much. In the more concentrated urban areas it's blue, move to the more rural and it's red. But I think that holds most places.

 

[sengsational]

Nice, helpful dialog for NC. I'm in Charlotte. Bigger and busier, but a legacy of when I needed to be near w*rk. Some day I hope to ditch the NC state income tax, but seeing people retiring to NC reminds me it must not be as bad as I think it is, hehe!

 

[NateW]

The current real estate market is crazy with homes being sold in bidding wars, etc. Maybe you'll get a strong price for your "new home." The driver of so much traffic is all time low interest rates and millennials purchasing homes for the first time for monthly payments no higher than renting nice apartments.

A popular website covering migration is City-Data.com. You might consider posting your questions about moving into the region there.

The hot spot in the South right now appears to be Cookeville, Tennessee--a college town where home prices and taxation are much more favorable. It's 80 miles east of Nashville on I-40.

Thanks Bamaman for your City-data.com tip. I'll take a look. You are correct about the low interest rates. The current monitary policy is not doing us any favors. Our cash is earning next to nothing and to add insult to injury, we are having a difficut time buying a house with that cash.

 

[NateW]

Nice, helpful dialog for NC. I'm in Charlotte. Bigger and busier, but a legacy of when I needed to be near w*rk. Some day I hope to ditch the NC state income tax, but seeing people retiring to NC reminds me it must not be as bad as I think it is, hehe!

We looked at Charlotte and were considering the Lake Norman area, but think it will be too busy and built up.

At first I found it difficult to look beyond the tax implications of living in NC, as Virginia is a more tax friendly state for retirees. And then I read on this forum that quality of life trumps any tax savings in selecting a location. That sunk in. Also, we think we will spend less living in NC instead of VA. In the areas in Virginia where we were looking, for the type of house we want it costs about $150k to $200k more than in the NC Triad area. If we moved to NC, the higher income and sales tax rates over our lifetime would be a lot less than the $150k to $200k we saved on housing.

 

[harllee]

We looked at Charlotte and were considering the Lake Norman area, but think it will be too busy and built up.

At first I found it difficult to look beyond the tax implications of living in NC, as Virginia is a more tax friendly state for retirees. And then I read on this forum that quality of life trumps any tax savings in selecting a location. That sunk in. Also, we think we will spend less living in NC instead of VA. In the areas in Virginia where we were looking, for the type of house we want it costs about $150k to $200k more than in the NC Triad area. If we moved to NC, the higher income and sales tax rates over our lifetime would be a lot less than the $150k to $200k we saved on housing.

Plus I think the real estate taxes in most areas of NC would be lower than in VA (the exception would be where I live Chapel Hill has higher real estate taxes than most anywhere else in NC but we get a lot for it--free bus service, excellent library and recreation, etc)

 

[JoeWras]

I compare NC to IL since I'm familiar with both states. IL doesn't tax retirement income (yet). So you'd think it would be perfect. But, no, in the urban areas, the real estate taxes are 3x to 4x NC, which makes up for a modest retirement income of 60k to 80k or so.

That said, I'm still not 100% happy with NC income tax especially since I paid more to NC than the Fed last year due to capital gain treatment. So I think about this from time to time.

My BIL is in TN and we've considered going there from time to time, but BIL says be aware, there are some "funky" taxes I don't completely understand and would need to study up on. It isn't a complete coincidence that many wealthy people in the music industry have gravitated to TN, and they are not all country artists.

 

[ncbill]

I compare NC to IL since I'm familiar with both states. IL doesn't tax retirement income (yet). So you'd think it would be perfect. But, no, in the urban areas, the real estate taxes are 3x to 4x NC, which makes up for a modest retirement income of 60k to 80k or so.

That said, I'm still not 100% happy with NC income tax especially since I paid more to NC than the Fed last year due to capital gain treatment. So I think about this from time to time.

My BIL is in TN and we've considered going there from time to time, but BIL says be aware, there are some "funky" taxes I don't completely understand and would need to study up on. It isn't a complete coincidence that many wealthy people in the music industry have gravitated to TN, and they are not all country artists.

I'm in NC & am considering retirement in TN...TN means a higher sales tax, but 0% income tax versus 5.25% flat tax in NC, property taxes shouldn't be much different from what I've read.

 

[littleb]

We retired to Tennessee and live about 45 minutes from Knoxville. Yes, sales tax is high but property tax is extremely low compared to other areas. The no income tax is the reason we did not consider moving to another state. We are close to the Smoky Mountains which feeds are love of hiking.