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The Amazing Trends in Real Estate and Winston Salem Foreclosures

Although there is a decrease in overall filings in North Carolina that is not the case with Winston Salem foreclosures. In fact, there is an increase in the total foreclosure filings in Winston Salem in recent months.

There were as many as 222 foreclosure filings in the metropolitan area of Winston Salem during this February. This was actually an increase of 195 filings as compared to the January this year. Also, when compared to February 2008, there was an increase of 206 foreclosure filings.

Top number of foreclosures was seen in Forsyth where there were 205 foreclosure filings in February. Apart from this, foreclosure rate was up in other counties like Davie, Stokes, and Yadkin.

So, foreclosures are increasing in this part of North Carolina but one thing you need to keep in mind is that prices for Winston Salem foreclosures are quite different in different areas. You must take special care in this regard as it is better to conduct some research to know the prices available in different parts. Actually, the prices differ with a change in total area and location of a home. For instance, a home in Winston Salem with 970 square foot is available at an estimated price of $79,900. But, you may have to pay $23,000 for a home in Winston Salem with 780 square foot. What it means is that change in prices will always be there and you have to complete your homework before opting for a foreclosed home in this part of the world.

Here, it is also crucial to mention that you must also pay attention to average and median price of homes in an area before investing in the real estate marketing. By checking the price of homes in Winston Salem, you will find it much easier to determine the value of homes in foreclosure in Winston Salem. Following are the graphs taken from Trulia.com to provide you some information about average and median price in this particular market.

Average listing price in Winston Salem was moving up in recent weeks but there was a decrease of 7.2% in average price per square foot.

It is clear from this graph that median sale price was also down in 2008 and 2009 is no different too. The total decrease in median sales price was around 6.8% and listed price was around $105,350.

So, you can see that there are ups and downs in real estate market which directly affect the Winston Salem foreclosures. You have to take all these points into consideration before investing your money in this real estate market.

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