Asheville, NC Real Estate News

  THE PULSE OF ASHEVILLEFrom every radio station, television news channel, and the Internet, the sky is falling. "The housing market is in a slump". According to the talking mouths, home prices are going down at an all time record rate and to new lows for many of the past years.Looking at the numbers for Buncombe County, it appears someone forgot to tell Asheville and Buncombe County, NC the news. Yes, our inventory is up at record levels and our sales have slowed but, declining prices have not been the news.One year ago today our inventory was 2,152 homes on the market with an Average Asking Price of $404,447. The Median Asking Price was $279,900.Today, 12/27/2007, our inventory of homes on the market is 2,965 with an Average Asking Price of $442,048. The Median Asking Price is $299,90...
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At the end of October, 2007 I posted a survey called Survey: How many $1million homes on the Market in your MLS region?Thanks to the members below that sent in their statistics for their location. If you would like to add your numbers for your location please go to the link above and submit your results in the format requested, i.e., A., B., C., D. I'll then add your info to this chart.If you would like to know more about the member's location below, click on their name.Number Of $1 Million Or Over Homes On The Market In Various LocationsLocationNumber of Active Single Family HomesNumber of Homes Over$1 MillionOverall Percentage of MarketAsheville, NCDon Davies7,6825017%Las Vegas, NVRenee Burrows - Las Vegas NV Real Estate26,4131,2524.7%Grand Rapids, MIKaren Webster9,68185.9%S.E. PA, pa...
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By Bill Westel, ECO
(Eco-Steward Realty)
Picture from Cover of book " Your Green Home: A Guide to Planning a Healthy, Environmentally Friendly New Home (Mother Earth News Wiser Living Series) (Paperback)This blog is in response to the Pink Challenge Contest   going on at the Eco-All Stars groups. The basic premise is this: If money were no object what 5 Green Home features would you include in the design of your new or existing home. I only read a couple of entries before writing this because I did not want to be unduly influenced by what others were putting in the green homes.  This 1800 square foot home would be located near Asheville, North Carolina  in the mountains on a south facing parcel of land, with a year round creek on at least 100 acres. The majority of land would be in conservation easement.  An alternative site w...
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Buncombe County, NC Real Estate Market Statistics November 2006 and 2007 Active ResidentialListingsAverageAsking PriceMedianAsking PriceNumberSOLDAverageSOLDPriceMedianSOLDPrice       Nov 20062188$420,986$289,900330$293,581$225,000Nov 20073062$448,295$299,900254$288,816$234,950As you can see, the number of homes in the inventory has risen, but so have the Average and Median asking prices. One reason for that is that we now have more homes on the market at or over $1 millon. The one concern is the number of homes sold in Novenber 2007 versus 2006. Inventory up, sales down indicates our market has slowed along with the rest of the nation.  Post you listings and market reports at the Group: http://activerain.com/groups/CityStateListingsReports
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By Michael Zullo
(Keller Williams)
The biggest problem with our market in Asheville, is the low volume of new home sales. In some cases that market is down over 40%. And with more new construction coming on the market , prospects for 2008 are not looking to good.....for sellers, that is. As for buyers, developers are making all kinds of concessions. If you are in the market for new construction, don't be afraid to ask for all sorts of perks. Want upgrades in floors, appliances, finishes, etc, just to name a few. Maybe you want the developer to bu down the rate from 1/2- 1% point. Good chance they will do it. Make payments for 6 months or a year? Could be. What they won't do is lower the purchase price, so don't ask. This would effect the appraisal values of other units within the complex. All the perks are not seen in th...
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By Michael Zullo
(Keller Williams)
We are on so many top ten lists, but this one is very interesting. While the price of homes went up double digits in many other parts of the country, Asheville moved just a little ahead each year. Now while the big boys are in steep declines, Asheville's real estate moves into the top ten of communities with an increase in appreciation. In fact, the value of single family homes went up 9% over last year. Now the fact is that the market is down in total volume about 10% in Asheville Board of Realtors' territory, but what they are buying is up in price. Isn't that interesting. What does that really say. Well, for one thing, it says that maybe there are fewer cheap houses available, period (which I think is the case).If you are a serious buyer or investor, make December your month to look ...
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By Michael Zullo
(Keller Williams)
 Sorry for the delay in blogging this month,but I have been traveling and am currently in Las Vegas at the National Associations of Realtors convention. (Tough life!) While learning the best and latest techniques in getting property sold, I also got to completely understand absorption rate calculation and what it means. In doing the rate for Asheville, we find that we have an inventory of 16 months. This means that it will take 16 months to sell all the houses currently on the market. While that is high (6 months would be a neutral market) it is better than it was 3 months ago (22 months).So the trend is positive. If I was a buyer I would be looking now for bargains since this probably won't always be the case next year. There is plenty of mortgage money for investors as well as owner o...
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By ASHEVILLE REALTY REFERRAL RESOURCE 828-776-0779, CONTACT janeAnne365@gmail.com
( REAL ESTATE REFERRAL NETWORK )
Whether real estate buyers, sellers and investors are aware of it or not, they must know certain facts and obtain certain information regarding the Environmental Laws of a State. photo I took of my pal, and fellow  Eco Certified® Consultant and REALTOR® telling us important information at a demonstration she organized.Here are a 5 ways a real estate professional can be of assistance.REALTORS® can point the way to reliable information.  As more and more investors express a particular interest in conservation subdivisions/eco-developments and sustainable landscape design and a general inclination towards maintaining and improving the environmental health of home, community and lands surrounding, they need reliable information.REALTORS® can shed light and perspective on the nature of a com...
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 Advantage West ,an economic development group  will be hosting a conference Thursday, December 6th that focuses on the recruitment and expansion of jobs and investment associated with environmental-related enterprises in the Asheville and surrounding region. Workshop topics will include investment and job-creation in: Environmental Reclamation, Green Construction, Environmental Sciences, Alternative/Renewable energy, and Environmental Conservation. There will be two workshop tracks for the conference one on Green Building and the other on Renewable Energy. Click here for a complete conference agenda.  This looks like a great conference. Unfortunately, I will not be able to attend. But this is the type of forward thinking that is appearing in many places around the Asheville area. There...
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By J. Farley, Ashevillenulls Home Team
(Keller Williams Realty)
The key to getting your home sold in today's changing market is to ensure that your home is remembered by prospective buyers.  How can home sellers set themselves up for a quick sale? Recent studies by the annual Remodeling Cost vs Value Report 2007 show that rehabbers will get the most return on EXTERIOR upgrades.  The most cost effective remodel? #1  Upscale vinyl replacement to Hardi Plank siding (fiber cement).  Average cost: $13,000 with a return of 89%.  #2  The second largest return can be gained through deck additions. A 16' x 20' addition can run you about $9,000 with a return of 86%.  #3  Window replacement is the third largest return.  Make sure to get high quality, double-hung, insulated windows for a return of 80% on a $10,000 job.  #4  Finally, minor kitchen remodel is sti...
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By Bill Westel, ECO
(Eco-Steward Realty)
 I recently had a couple in town, Sam and Karen who were looking for some eco-investment real estate in Asheville. Karen, however, had also seen a home she wanted to check out which was listed at 2.3 million. The home was situated on 5 acres surrounded by 75 acres already in a conservation easement. about 30 minutes from downtown Asheville. It was a truly gorgeous home, 6000 square ft, custom designed  with high quality craftsmanship, views of 7 mountain ridges from a wrap around deck and wonderful solarium. There was a fantastic gourmet kitchen, double fireplaces between the dining and living rooms, radiant floor heating, a beautiful formal living room with cathedral stain glass windows on either side of a walnut mantled fireplace. This opened to a huge library/office with built in che...
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By ActiveRain City and State Listing Group
Here are the trends and statiscis for for the 3rd quarter of 2007 for Buncombe County, NC. Buncombe County is made up of  Asheville, Leicester, Weaverville, Candler, Woodfin, Arden, Barnardsville, Black Mountain, and several other area locations. If you go to Realtor.com to search for listings in the Asheville area, be sure to put in Leicester and the other areas to get the complete picture of what is available in our beautiful part of the country.If you put the word just the word Asheville in a Google search you will get 11,000,000 hits! The number one site for Asheville is Asheville.com.If you put the words Buncombe County NC you will get 1,040,000 hits. The number one site is Buncombe County. org.In comparison, if you put the word ActiveRain in you will get 581,000 hits.Asheville is ...
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By Bill Westel, ECO
(Eco-Steward Realty)
 Home price figures just released from the federal government show what many of us at EcoSteward Realty had suspected, namely that while sales volume of residential homes is down compared to last year, home prices in the Asheville area have kept appreciating.  Asheville area homes had the ninth-highest appreciation rate in the country over the past year, according to federal figures released Thursday. The rise in values comes despite a sharp drop in the number of homes sold. Single-family homes in the Asheville metropolitan statistical area - Buncombe, Haywood, Henderson and Madison counties - increased 9.4 percent in value over the 12 months that ended Sept. 30, according to figures from the Office of Federal Housing Enterprise Oversight.So while the Asheville market is seeing a slowdo...
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By Gabe Swinney Asheville New Urbanism
(Gabe Swinney)
"Climb the mountains and get their good tidings. Nature's peace will flow into you as sunshine flows into trees. The winds will blow their own freshness into you, and the storms their energy, while cares will drop off like autumn leaves.", These were the words of John Muir the great conservationist and explorer. Over the week-end, traveling back from my Thanksgiving Holiday i could feel myself gradually slipping back into the realty of these powerful and elevating words. I was coming back from a great time with even greater people outside of Detroit. The experience was certainly giving strong reminders of so much that I have to be thankful for. I was very happy. But, as I continued driving south down I-75 and the Appalachians began to swell around me like a crone beginning to stir in t...
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By Bill Westel, ECO
(Eco-Steward Realty)
I was invited to give a talk a couple of weekends ago  to the Appalachian Chapter of the American Society of Dowsers . about sustainable development in the Western North Carolina mountain region. Dowsers are folks who among other things find places on land where wells can be dug to access water. There are way too many links to pick from so just Google dowsing and see what comes up. Many well drillers use dowsers to help them find sites before they start drilling. If fact the first speaker of the day was Lee Barnes, a real estate agent in Waynesville who does water dowsing.  The Appalachian Chapter was interested in letting its members know what was happening in regards to the rapid development going on in Asheville and the surrounding  mountains as well as some ways they might be able t...
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By ASHEVILLE REALTY REFERRAL RESOURCE 828-776-0779, CONTACT janeAnne365@gmail.com
( REAL ESTATE REFERRAL NETWORK )
     For the past many years,I and my investors and clients have been  engaged in locating and acquiring  land buys with an eye to the future. In almost any season, folks from down south, and north, and west, and yes, even from Eastern North Carolina's magnificent ocean shores  head for the mountains and beautiful rural farmlands of Western North Carolina. In the summer, the fresh cool air is particularly welcoming, but I love all four of our seasons. For those who have discovered the lands I love, there's no doubt that investing in Land right now is a smart move for the future.                                                         photo taken in Madison County by JT, photographer for our Firm One of the most promising places for investing in Land is Madison County, North Carolina. Lo...
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By ASHEVILLE REALTY REFERRAL RESOURCE 828-776-0779, CONTACT janeAnne365@gmail.com
( REAL ESTATE REFERRAL NETWORK )
 Old car and dog lovers, you may be surprised at what is in store for you today. Believe it or not, TOTALLY worthwhile, whether you are dog-lover,  old car enthusiast, or  simply are a concerned client , or  REALTOR® facing eco-friendly challenges in property design & development, you need to look into  context theory ! Case in Point:  A  project happening right here and now in Asheville  . This is a project that makes it clear just how important it is to get the "big picture" and take the steps to solve sustainable innovation challenges. Folks, here's your invitation to come along as we explore the possibilities in one very, very interesting experience. I 'll tell your right now that it is exciting to be a part of this whole "context theory" thing... .as you will discover when you che...
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By Harper Team
(J Rockcliff Realtors)
I have a friend with a unique talent. Even she doesn't quite know how to describe what she does. Mostly I think of her as a decorator, but she has also studied Feng Shui - though neither really describe what she does or how she does it.I think the how is the most difficult to grok. If she dealt in water, she would probably be a dowser. She can transform a space, whether indoors or outdoors into something incredible. Of course, many people can do that. What sets Barclay Law of Design With Feeling apart from others is what I might call soul. It's like she is able to listen to the soul of the client and the soul of the space. She then, somehow, blends different elements together to create a space that is at once unique and familiar. By familiar, I mean the feeling tones that arise are fami...
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By J. Farley, Ashevillenulls Home Team
(Keller Williams Realty)
In My Opinion... Hello, from Asheville's Home Team and Keller Williams Realty, located in beautiful, downtown Asheville, North Carolina!  As a service to clients and the public in general, we have decided to provide you with an inside look at real estate today and the major issues facing sellers, buyers, and even the agents themselves.  This is our first attempt at blogging in the professional venue, so feel free to post your comments so that we may better serve your needs and interests! Today, I choose to speak about the changing market here in Asheville, NC.  According to the doom and gloom of the national news ("over 500,000 subprime mortgage borrowers could go into foreclosure...10 of the nation's largest cities seeing a 5% price drop in home values...Vacant homes up nationwide 7% s...
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By Arlene Brown
(Eco Steward Realty)
It's "GREEN HEAVEN" here in Asheville.  I was talking with the folks at the NC Green  Builder Program, who told me that sustainable building is "IN"" . I like the idea that energy, water, and materials are used efficiently during the construction and lifetime of a structure; the health and productivity of occupants is supported; and the impact of the structure on the local and global environment is minimized... Recently I listed a property, a big tract of land, that would be perfect for green-built homes. If you were to visit here you would know what I mean. It's green heaven, all right! As an ECO certified real estate person, I find sustainable design and building especially interesting. AND so I am excited to think this land is a perfect opportunity for investors and developers to do ...
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