WNCHomeTeam

How Did 2011 come out for local real estate??

candy — Tue, 31 Jan 2012 17:33:40 +0000

According to the NAR we did better in home sales in 2010 than we did in 2011, also the prices continued to fall though not at the same % that they were from 2008 to 2010. Not including the extremely high priced homes ($800,000 and above) there was another 5% decline nationwide from 4th qtr 2010 to 4th qtr 2011.
Locally we are definitely moving in the right direction as to supply……in December of 2009 we ended the year with 2338 homes on the market in Buncombe County priced from $75,000 to $800,000. In December of 2010 that number had climbed slightly to 2349 but in 2011 that number had dropped to 1717. An additional 632 homes were taken off the market during 2011. They may not all have been sold but the result is still that supply went down.
Now as to sales, the numbers are different and tell a different story….The number of homes sold in the same price range in 2009 was 2090 with 2338 homes left on the market……in 2010 it jumped a whopping 620 homes to 2710 sold with 2349 remaining on the market…….now the reason that 2011 is being referred to as the worst only 1811 (899 fewer) sold with 1717 still left on the market. Our supply has definitely gone down but it is not all sales….some sellers have become so disillusioned that they have taken their homes off the market or worse, allowed them to fall into the shadow inventory of pre-foreclosure. The other possibility is new rentals and that market has definitely grown. Investors have been quite happy here as rents have gone up.
The bottom line is there is still great inventory, prices remain down and interest rates are still hovering around 4%……..Buyers are in an extremely fortunate position and sellers can be glad the inventory is down!

Happy New Year…the 12 days of January 2012

candy — Thu, 12 Jan 2012 20:42:41 +0000

This is starting out to be a very busy year, buyers are looking, however they are more careful than ever! There are deals to be had, but prices are not falling like they were. We seem to be easing up and the public seems interested in getting back in the market. Please look at our listings we’ve added some new ones and some prices have come down. To be stratgically placed in the market, all of our listing are reviewed monthly as to their price point with their competition….Make us an offer we’ll work with YOU! Attached are the year end statistics for 2011 Not as bad as 2010!! Monthly stats Dec 2011 Buncombe Monthly stats Dec 2011 Henderson

Statistics for November in Buncombe and Henderson Counties

candy — Tue, 06 Dec 2011 16:44:20 +0000

Monthly stats Nov 2011 Henderson
Monthly stats Nov 2011 Buncombe
Hi Everyone,
I hope you all had a wonderful Thanksgiving and are looking forward to the Christmas and Hanukkah seasons of Light! Real Estate continues to move, and things have gotten busier but the prices continue to slide. Please click on the above statistics to see what closed each month this year. As you can see we still have quite an inventory so only the best priced are selling. As always location is still a main factor. Please call us if you’d like to find out what your home is worth in this economy.

Big Fall Price Drops!!

candy — Sat, 29 Oct 2011 22:51:14 +0000

Hi Again and thanks for visiting. We’ve had some large drops in prices on some of our best listings. Please look at 24 Gaston Mountain! This gorgeous home on over an acre has been reduced to $299,000 and is a real deal for the discriminating buyer, such a wonderful place to live and so convenient. Our listing, 94 Double Brook Drive out in one of norths most popular neighborhoods, Twin Brook Hills, has just been reduced to $310,000. That is over 3000 sq. feet!!…….And the little jewel on Crestland Drive has been reduced to $114,000. Investors take note this home has been a rental for years and I have folks calling wanting to rent it all the time now. The owner is out of state and doesn’t want to be a landlord anymore…..Give us a call we’d like to show you these homes!!