When is the best time to purchase a home or land in Burnsville, NC?

Asked by Donna, 32601 Wed Jul 4, 2007

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Vicki Masell…, Agent, Duluth, GA
Wed Jul 4, 2007
Happy 4th of July, Donna!

I am a licensed Realtor in Georgia. It may sound a bit cliche' but I believe that any time is a good time to buy real estate so long as you do your research or have a professional real estate agent familiar with your area by your side to advise and consult with you. Pay particular attention to comparable sales prices, market trends (particularly appreciation rates), and other factors like mortgage rates, insurance, taxes, school ratings and seller-paid buyer incentives.

Although I may not be familiar with your particular market in Burnsville, NC, I believe that you must first ask yourself a few of the following questions:

(1) Am I purchasing for investment or for a place to live?
(2) If investment, what are my goals? What amount do I want to net from quickly flipping the property or what amount of passive income do I want to generate if I hold onto the property for a specified period of time?
(3) If purchasing to occupy, do I really want to design & build my home from scratch or would I prefer to purchase a good resale in an area that may be close to family, work or recreation attractions of interest?
(4) How long do I plan to own this property?
(5) How much can I afford to spend each month on payments (including principle, interest, taxes and insurance or PITI) and still have money left over to enjoy life, vacation, eating out, gifts for birthdays & holidays as well as furniture and home maintenance?

After you go through the above question & answer exercise, consider seeking the professional advice of a Buyer's Agent or Realtor. I recommend that you seek a professional who holds an Accredited Buyer's Representative or ABR designation issued by the National Association of Realtors.

Wishing you much success in your real estate endeavors.

Ted Shoop - ABR, e-PRO, Realtor
Keller Williams Realty Atlanta Partners
Web Reference:  http://MyGeorgiaHomes.com
1 vote
Bruce Lynn, Agent, Coppell, TX
Thu Jul 5, 2007
Of course prices can go up or down at anytime, but in general the peak activity for summer vacation spots is in the spring and early summer. Therefore the best time to buy should be the Fall. Prices should typically be a little lower and time on market longer. It just depends on your definition of "best". There might be more inventory available in the Spring, so it just depends on when you find the right place for you. My family had a house in Black Mountain near Ashville for years and I sure remember the good times of summer vacations there as a kid.
Web Reference:  http://www.teamlynn.com
1 vote
Leigh Brown, Agent, Concord, NC
Wed Jul 4, 2007
Actually, I don't think there are any bad times to buy in the NC mountains right now, as the area becomes more and more attractive to retirees and second home purchasers. Is Spruce Pine still dry? If so, buying before it goes 'wet' (which seems to be inevitable everywhere now) will be to your advantage if past history of other dry towns holds true. Happy 4th and enjoy the rest of the week-I love Mitchell County, it's gorgeous.
1 vote
Dan Chase, Home Buyer, Texas City, TX
Fri Nov 20, 2009
The best time to buy is after 2012. UNtil then we have foreclosures of 7 million nationwide coming. We have unemployment of 10.2%. That means about 16 million americans without work and millions more not working enough hours. After the economy recovers and the government interference with free markets stop (aka $8,000 buyers credit) then prices will reach much more reasonable levels. THEN it will be a good time to buy.
0 votes
Joanne Willi…, , Spruce Pine, NC
Thu Nov 19, 2009
Anytime! As we have four seasonal changes(spring is my favorite) it is
always a great time to buy here in Mitchell/Yancey areas, and WE WILL BE VERY HAPPY to HELP YOU FIND PROPERTY anytime of the year!!
0 votes
Foxfire Team, Agent, Spruce Pine, NC
Wed May 13, 2009
Hi Donna,
It is always a great time to buy here in the Mitchell and Yancey County areas. The mountains of Western NC have always been and always will be an attractive market place for retirees and vacationers. The bank interest rates at an all time low and the $8,000 tax incentive makes Now a really great time to get a home or vacant parcel. As for Mitchell County being dry....it still is; however the town of Spruce Pine just got wet. So you can purchase your favorite alcoholic beverages in the downtown area.
0 votes
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