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Market Conditions in Avery County : Real Estate Advice

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Activity 3
Mon Jun 11, 2012
Barry Aldridge answered:
Lynn,

That's the million dollar question! No one truly knows, but if recent indicators are correct, we are probably seeing at or very near the bottom in terms of pricing. Prices in this area are at the lowest point in 7 years, but I honestly wouldn't wait too long or expect them to fall much farther. Keep in mind that prices in the mountains, and particularly the High Country of NC are somewhat protected from the massive meltdown that much of the country has experienced, especially in terms of foreclosures, which have driven the prices down so much in harder hit areas. Compared to other areas, our foreclosure rate has remained very low, which helps keep prices stable. Most people who are buying property in our market right now realize that an investment in a home or property in the High Country is just that, an investment, and if you can buy at a reasonable price, there has never been a better time to do so! I hope this information is helpful. If needed, I can provide you with some statistics that may also help. Just let me know if I can be of any help! ... more
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Fri Apr 22, 2011
bob friedman answered:
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""
Sincerely,
Bob Friedman
... more
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Wed Aug 25, 2010
David Dorfman answered:
Are you talking about NJ?

Sure, in most cases prices are less this summer then last.

Why?

Depending where you are, inventory is steady, appraisals are lower then most people expect.

A well qualified buyer has plenty of options - including the option to rent - or try and buy.

Can it go lower - sure. Why not.
... more
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