Hi Susan. If you are thinking about purchasing or selling I would suggest that you get set up on a good search for the areas you are looking at. Different areas of the market are performing quite differently here, so it depends on what you are looking at and the term you expect to hold it for. By having an automatic search, as the real estat pro that you are, you will be able to watch the market effectively. I would be happy to assist you with this if you would like to watch the market. I have invested in many states and this is an effective strategy I have used in each case. Hope this helps. How's the market in Cape Coral? Rowena

Wed Mar 19 2008, 14:23

So you've thought about moving to Asheville. Is it a good time to buy Real Estate? Are prices going up or down?

Obviously, these questions can't be answered with a generic answer. It depends on where and what price category you are looking for. Right now we find most properties under $225,000 are in a sellers' market. This means that these properties are on the market the least amount of time and may have multiple offers.

If you are in the $300-400,000 range, it clearly is a buyers' market. Prices are not rising in this area and very few are going under contract. This is the range that has the most properties for sale and it keeps rising every month. If you are looking in this price arena in the Asheville area you should get a pretty good deal.

The best time to buy in any market in Asheville is late fall and winter. With the prospects a little gloomy right now and for the next 6-12 months, you might just score a great deal in Asheville.

If you are a seller in Asheville, you must price your house right. Not like the others in your price category, but better. Better usually means lower. Other factors are staging and general curbu appeal.

In our next blog we will discuss marketing your home in a buyers' market. Until then......

Michael

Mon Oct 1 2007, 15:09

Here's the video for the 2007 Asheville Metro outlook. says I already referenced the printed materials. In my answer down below. I decided to post the video. I would also like to point out that out of 186 metro areas in United States, Asheville ranks 12th in-home appreciation. I'm going to start with part to first, since part two has the most relevance to the Asheville real estate market. You may need to copy and paste this link in your web browser or use the Web reference below.

http://www.jefflink.org/blog_post.asp?post=3908

http://www.jefflink.org/blog_post.asp?post=3904

Fri Aug 17 2007, 11:29

As an experienced real estate professional, I think the Asheville market will be relatively stable for awhile, with some price ranges alternating between seller's market and buyer's market. In addition to being licensed in North Carolina, I am also licensed in Florida and I don't see the extreme gains or losses in this market like Florida has had. If you would like to take a look at the Asheville MLS. Here is a link.

Tue Jul 24 2007, 12:49

Carol's looks more like a question - and so I will answer
Now is a good time to buy in Asheville - because as I predict in my previous answer - Asheville's market has become a bit of a buyer's market with appreciation rates down to about 5%/year and that's as low as it's going to get (OK maybe it will get just a little better this winter) - but then it's going back to 7-10% next spring - It will NOT flatten out! Seller's here are "concerned" about the market because (relative to what they are used to) it is really bad. That is: it's not the 10-12% that they are used to - it's only the 5-7% (that is still good but seems bad in relative terms) The end result is that seller's are lowering prices, offering terms, and offering incentives in order to get their homes sold. This will not be true next spring! Buy now and rent it out (assuming that your tastes in a home would put you into a home that fits into our local rental market and bring a rental that would pay your mortgage payments etc). Get a Buyer's agent to search the market for what you need and see how it all works out.
Gib 828 329 1615
Gib@GibGibson.com

Thu Jul 19 2007, 08:22

How about someone who wants to move from Florida...but still has to work a few more years? Looking for a home to buy and retire to, but still have to make a living for a few more years. Would like to relocate, live, and work in western NC. Perfect scenario would be to still own the condo in FL and be able to afford a home in NC...working to afford both. Pipe dream, maybe.

Wed Jul 18 2007, 17:31

I have to agree with Jeff. Thought it IS true that Home sales in Western North Carolina are SOMEWHAT dependent upon in-migration and therefore homesales in other parts of the country - We still have what most of the country wants - great weather, beautiful natural settings, nice "folks"....etc and until that is no longer true we will still be one of the most favorite places to move to. Or home sales appreciation may not reach the "boom" rates of 2 years ago they won't fall or flatten out either. We expect to see rates of about 5 to 8 percent until perhaps next spring and then about 7 to 10 percent. "We still got it"!!! (and always will) Gib Gibson
828 329 1615

Tue Jul 10 2007, 16:31

Having personally attended the 2007 Asheville Metro Economy Outlook on June 27, 2002. I would have to disagree with Joe's answer. according to Joe, the Asheville market is highly dependent upon Florida.

The Asheville Metro is distinct in that more than 95% of local population growth is from in-migration, the remaining from births over deaths. Other North Carolina communities supply about 40% of the in-migrants. Florida tops the states with the highest number of in migrants, accounting for about 12% of the total overall.

I would also recommend taking a close look at the graph on industry sectors. With more Professional and Business services and Financial Activites moving to Asheville we are in a better position then the rest of the nation. Also to addrees the if retirees no longer can sell look out. while it is true that units sold in Asheville has declined, owing to the slowdown of outside markets. stable job growth and quality-of-life attraction has kept theAsheville housing market relatively stable. I also don't see the chicken Little. The sky is falling doom and gloom and I have the statistics to back to back me up.

Tue Jul 10 2007, 08:04

The Asheville market is highly dependent upon Florida and northeast real estate markets, not local jobs. If retirees can no longer sell their homes to move to Asheville, look out.
All investments follow a regression toward the mean and the recent appreciation for Asheville (10-12% annually) has been much greater than the mean (5-6%annually). I predict it will flatten for years.

Thu Jun 28 2007, 14:05