Well Bruce, June Tassillo certainly did a good job of answering your question about the market here in Franklin, NC. It's true that we haven't felt the crunch quite as bad as some parts of the country, but it has slowed some. We are in a unique place in the mountains with over half of Macon County being part of the Nantahala National Forest. The natural beauty and recreation opportunities have kept this area near the top of the list for second homes and seasonal rentals. Yes...things have moderated, but nothing close to what has happened in other parts of the country. Our lower to mid-range homes are leading the market right now for sure and I'm seeing the higher priced homes having to stay on the market longer and reduce their prices to make them competitive. Nevertheless, most would consider our market here as "fairly strong".

Hi Bruce, There is currently 715 residential homes for sale in Macon county (not including Highlands), ranging from small single wides on rented lots (mostly used for 2nd homes) to nice double wides with acreage. First time home buyers that want stick built homes have many homes to choose from under $150,000. Now really is the time to jump on the $8,000 tax credit that now can be used for the down payment and the lowest mortgage rates in years that will not last forever. They have until the end of the year before its too late and they end up kicking themselves for not buying. I just don't understand why some people are still sitting on the fence? Prices have fallen but not like other parts of the country. There really are great deals here if they want to take advantage. I have had many complaints from sellers that their offers are just insulting and feel just because some are in trouble and have to sell does'nt mean you can steal every home you see on the market.
We are seeing more foreclosures and short sales, we have never had that around here, so I am told by the elders. I have taken lots of courses to educate myself for these types of sales.
To date we have sold 90 homes and last year our residential solds were at 119.
Sales are mostly under $300,000. Only 4 homes over $300,000 have sold this year.
Land is doing terrible! Only 34 parcels have sold this year compared to 94 parcels last year at this time. Not many permits so far this year either as far as building new homes.
Our phones have been ringing lately with more inquires. Our season is just starting and we are all hopefull to have a great spring/summer.
Hope you are hanging in there with your market.