Diosmaya, Home Buyer in Banner Elk, NC

How much have prices dropped in the last 2 year period in Sugar Mnt? Bottomed out yet?

Asked by Diosmaya, Banner Elk, NC Tue Jun 23, 2009

Help the community by answering this question:


hello diosmaya,
prices are all over the board due to financial distress,poor location,poor condition,etc...
but understand,we never had a housing glut. prices really dropped because of the financial
freeze;recessionary drop in stock prices;then,stock and bond yields dropped.
Find a home you love,negotiate,buy it,enjoy it for years],then sell !!!!
remember, it's about the lifestyle up here!!!!1

p.s. there won't be a bell ringing to let you know "BOTTOMED OUT NOW""
Bob Friedman
0 votes Thank Flag Link Fri Apr 22, 2011
Hi Diosmaya,
Just as Lori said........ it is difficult to say a dollar amount or %'age because the numbers are greatly affected by Foreclosures and short sales. IF you are truely interested in getting a clear picture of the Market on Sugar/Banner Elk/or Beech Mtn - my husband & I build a very detailed and comprehensive report each month showing the Sales Stats and the comparison of each month to the previous month AND to the same periods from previous year(s). IF you'd like to be added to our mailing list for this monthly report - Just drop me an e-mail!
0 votes Thank Flag Link Fri Jul 9, 2010
Good evening Diosmaya,
Prices are sort of all over the place in the area. The average price drop has been around 50-60,000. on the mid price range homes, but there have been some short sales saving buyers up to hundreds of thousands of dollars. A recent sale in Eagles Nest sold for over 2 million less than what the developer was originally asking for. (originally 4.3m asking price, and sold for 1.9M) There are definitely some deals to be had. I would have to say the homes and land are probably at their lowest for the most part, but obviously any short sales and foreclosures that come about, we'll represent some of your best buys. Are you looking for a home or lot?
Let me know if I can research any properties for you on Sugar.
Have a great evening,
0 votes Thank Flag Link Wed Jun 24, 2009
The prices have dropped about 35%. We think they've bottomed out, so it's time to buy!
Web Reference: http://owensrealtync.com
0 votes Thank Flag Link Tue Jun 23, 2009
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