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July 2, 2024

Are Home Buyer Opportunities Opening Up?

 

If you’ve been considering buying a home, now might be the perfect time to make your move. After an extended period of high demand and limited inventory, the real estate market is starting to shift, presenting new opportunities for prospective home buyers.

Increasing Inventory....

One of the most significant changes we’re seeing in the market is the increase in housing inventory. Total housing inventory at the end of May was up nearly 19% compared to a year ago, according to the National Association of Realtors (NAR) latest existing-home sales report. This substantial increase in available homes means buyers have more options to choose from, reducing the competitive pressure that has characterized the market in recent years.

Lower Demand....

In addition to rising inventory, demand for homes is beginning to ease. Various factors contribute to this trend, including higher mortgage rates and economic uncertainty, which have led some potential buyers to delay their home purchase plans. This shift in the market dynamics is good news for those actively looking to buy, as it means fewer bidding wars and more negotiating power.

Stabilizing Home Prices....

Lawrence Yun, NAR’s Chief Economist, suggests that these movements in supply and demand are likely to ease home price appreciation in the coming months. While the median existing-home sales prices in May surged to $419,300—the highest price ever recorded—this new balance between supply and demand could lead to more stable and potentially more affordable pricing in the near future.

What This Means for Buyers....

For home buyers, this changing market environment presents a unique opportunity. With more homes available and less competition, you have a better chance of finding a property that meets your needs and budget. Additionally, the potential for stabilizing prices means you might secure a home at a more favorable price point than you would have a few months ago.

Final Thoughts....

The real estate market is always evolving, and staying informed about current trends is crucial for making smart home-buying decisions. The increase in housing inventory and the easing of demand suggest a more balanced market, which is beneficial for buyers. If you’ve been on the fence about purchasing a home, now might be the time to take advantage of these emerging opportunities.

For more information on the latest market trends and how they could affect your home-buying journey, stay tuned to our blog and reach out to our team for personalized advice and guidance.

Whether you're a first-time buyer or looking to move up, understanding the current market dynamics can help you make the most of the opportunities available. Happy house hunting!

 

Realtor Magazine - Home Buyer Opportunities

June 28, 2024

Celebrating the 4th of July in Asheville

Celebrating the 4th of July in Asheville: A Spectacular Experience

Asheville, North Carolina, is known for its vibrant arts scene, stunning natural beauty, and rich cultural heritage. This 4th of July, the city promises to deliver an unforgettable experience filled with fireworks, festivities, and fun for all ages. Whether you're a local or a visitor, here's your guide to making the most of Independence Day in Asheville.

Fireworks Extravaganza

The highlight of any 4th of July celebration is, of course, the fireworks, and Asheville does not disappoint. The city's main fireworks display takes place at Pack Square Park, where you'll be treated to a dazzling show set against the backdrop of the Blue Ridge Mountains. Arrive early to secure a good spot and enjoy the live music and food trucks that add to the festive atmosphere. The fireworks typically start around 9:30 PM, but the fun begins much earlier in the day.

Downtown Asheville Independence Day Celebration

Pack Square Park is the heart of Asheville's Independence Day festivities. The celebration includes:

  • Live Music: Enjoy performances from local bands and musicians throughout the afternoon and evening.
  • Food and Drink: Savor delicious offerings from various food trucks and local vendors. Don't forget to try some Asheville craft beer!
  • Kids Activities: There are plenty of family-friendly activities, including face painting, bouncy houses, and games.
  • Patriotic Program: A special program honoring veterans and featuring patriotic music kicks off the evening before the fireworks.

Lake Julian Fireworks

For a more laid-back atmosphere, head to Lake Julian Park in Arden, just south of Asheville. The park offers a beautiful lakeside setting for picnics and outdoor fun. The fireworks display here is another spectacular show, starting at dusk. Bring your blankets and lawn chairs, and enjoy a relaxing day by the lake.

South Asheville’s Fireworks Celebration

South Asheville's fireworks are hosted at the Asheville Outlets. The event is family-friendly and includes live music, food trucks, and plenty of activities for kids. The fireworks start around 9:30 PM and can be seen from various vantage points around the area.

Black Mountain Fireworks and Independence Day Celebration

A short drive from Asheville, Black Mountain hosts its own charming 4th of July celebration. The festivities start with a street fair featuring local artisans, food vendors, and live music. The day concludes with a fantastic fireworks display over Lake Tomahawk.

Biltmore Estate

While Biltmore Estate does not host a public fireworks display, spending the 4th of July here can still be a memorable experience. Enjoy a tour of the historic mansion, stroll through the gardens, and savor a special holiday meal at one of the estate's restaurants. The grandeur and beauty of Biltmore provide a unique and elegant way to celebrate the holiday.

Tips for a Great 4th of July in Asheville

  • Arrive Early: Whether you're heading to Pack Square Park, Lake Julian, or another venue, arriving early will ensure you get a good spot and can fully enjoy the pre-fireworks activities.
  • Bring Essentials: Pack sunscreen, water, and snacks to stay comfortable throughout the day. Don't forget a blanket or lawn chairs for seating.
  • Stay Safe: Follow all safety guidelines, especially regarding fireworks. Be mindful of your surroundings and enjoy the celebrations responsibly.
  • Explore Asheville: Take some time to explore Asheville's other attractions, such as the River Arts District, Blue Ridge Parkway, and the numerous hiking trails in the area.

Asheville's 4th of July celebrations offer something for everyone, from vibrant fireworks displays to community gatherings and family-friendly activities. Celebrate Independence Day in this beautiful mountain city and create lasting memories with friends and family. Happy 4th of July!

Celebrating the 4th of July in Asheville

Posted in Holiday & Seasonal
June 21, 2024

May Market Stats for Buncombe County

Key Trends

  1. Rising Home Prices: Home prices have steadily increased due to limited inventory and strong buyer interest, especially from those relocating from larger cities.

  2. Low Inventory: Homes are selling quickly, often within a couple of weeks, still creating a competitive market for buyers, particularly in Asheville.

  3. Diverse Properties: The market offers a range of properties, from historic homes to modern condos and rural estates, catering to various preferences and budgets.

  4. Out-of-State Buyers: The area's natural beauty, cultural amenities, and quality of life continue to attract buyers from other states, driving up prices and competition.

Influencing Factors

  1. Economic Growth: A strong local economy, bolstered by healthcare, education, and tourism, makes Buncombe County attractive to new residents.

  2. Tourism and Lifestyle: Scenic landscapes, outdoor activities, and a vibrant arts scene, especially in Asheville, enhance the county’s appeal.

  3. Remote Work: The rise of remote work allows more people to move to Buncombe County, enjoying its lifestyle without sacrificing career opportunities.

Outlook

The real estate market in Buncombe County is expected to remain competitive throughout 2024. Buyers should be prepared for a fast-paced market and higher prices, while sellers can expect favorable conditions. Working with a local real estate agent can provide valuable insights in navigating this dynamic market.

In summary, Buncombe County offers a thriving real estate market, shaped by its natural beauty, economic vitality, and cultural richness, making it an attractive destination for buyers and investors alike.

Posted in Market Updates
June 4, 2024

Discover the Best Summer Hikes in Asheville: Your Ultimate Outdoor Adventure Guide

 

Summer in Asheville is a magical time when the lush, verdant landscapes beckon outdoor enthusiasts to explore their beauty. With the warm sun shining and nature in full bloom, there's no better way to enjoy this season than by embarking on one of Asheville's spectacular hikes. From breathtaking mountain vistas to serene waterfalls, these trails offer something for everyone. Here are five must-visit hiking spots that promise an unforgettable summer adventure.

1. Mount Mitchell

As the highest peak east of the Mississippi River, Mount Mitchell stands tall at 6,684 feet, offering awe-inspiring panoramic views. The hike to the summit is accessible via several trails, with the most popular being the Mount Mitchell Trail. This challenging hike takes you through dense spruce-fir forests, offering glimpses of diverse wildlife and rare plant species. At the summit, you'll be rewarded with unparalleled views that stretch as far as the eye can see.

2. Craggy Gardens

Just a short drive from Asheville, Craggy Gardens is a hiker's paradise known for its stunning floral displays. In late spring and early summer, the rhododendron blooms transform the landscape into a sea of pink and purple. The Craggy Pinnacle Trail is a moderate hike that leads to a rocky outcrop, providing 360-degree views of the Blue Ridge Mountains. This spot is perfect for a picnic and a great place to watch the sunset.

3. Lover’s Leap

For a hike that combines history, legend, and natural beauty, Lover’s Leap is the place to go. Located in Hot Springs, this trail is named after a Cherokee legend and offers a moderately challenging hike with rewarding views of the French Broad River and surrounding mountains. The trail is approximately 1.6 miles round trip, making it a perfect short hike for a summer afternoon.

4. Mount Pisgah

Mount Pisgah is another iconic peak in the Blue Ridge Mountains, rising to 5,721 feet. The Mount Pisgah Trail is a popular route that takes you through a lush forest and up to a summit with an observation deck. From here, you can enjoy sweeping views of the Pisgah National Forest and beyond. The hike is moderately strenuous but well worth the effort for the stunning vistas at the top.

5. Graveyard Fields

For those who love waterfalls, Graveyard Fields is a must-visit destination. This unique area features two beautiful waterfalls and a meadow-like landscape that is quite different from other hikes in the region. The Graveyard Fields Loop is an easy-to-moderate trail that takes you through wildflower-filled meadows and along cool mountain streams. The Lower Falls is a great spot to cool off on a hot summer day.

 

Asheville's summer hikes offer an incredible way to connect with nature and experience the breathtaking beauty of the Blue Ridge Mountains. Whether you're seeking challenging summits, vibrant floral displays, or serene waterfalls, there's a trail for you. So lace up your hiking boots, pack your camera, and hit the trails to make the most of this enchanting season in Asheville. Happy hiking!

 

Asheville Hiking Guide

Posted in Asheville Travel
May 24, 2024

April Market Stats for Buncombe County

April has been a bustling month for the Asheville, NC real estate market, showcasing a dynamic and robust landscape. Whether you're a buyer, seller, or just an interested observer, here's a detailed look at the key trends and statistics that have defined the Asheville market this month.

Inventory on the Rise

One of the most significant changes this month has been the increase in inventory. More homes are hitting the market, providing buyers with a wider range of options. This uptick in inventory is a positive sign for those looking to make a move, as it indicates a healthy and active market. More choices mean that buyers have a better chance of finding their ideal home.

Surge in New Listings

Complementing the rise in inventory, April has also seen a notable surge in new listings. Homeowners are taking advantage of the current market conditions, with more properties being listed than in previous months. This increase in new listings is encouraging for both buyers and sellers, as it points to a vibrant and competitive market.

Percent of Original List Price Received

Another key metric that has shown improvement is the percent of the original list price received by sellers. Homes are selling closer to their asking prices, reflecting strong demand and realistic pricing strategies. This trend is a good indicator of market confidence and suggests that buyers are willing to pay a premium for desirable properties in Asheville.

Faster Sales: List to Close & Days on Market Drop

One of the most exciting developments this month is the decrease in both the list to close time and the number of days on market until sale. Homes are going under contract faster than they were last month, indicating a high level of buyer interest and a quick turnaround for sellers. This decrease means that the market is moving swiftly, with properties spending less time waiting for the right buyer.

What Does This Mean for Buyers and Sellers?

For buyers, the increasing inventory and new listings provide more opportunities to find the perfect home. However, with homes selling quicker and at prices closer to the original list price, it's essential to act fast and make competitive offers.

For sellers, the current market conditions are highly favorable. The faster sales times and higher percent of the original list price received mean that this is an excellent time to list your property. With strong demand and a quick turnaround, sellers can expect a smooth and profitable transaction.

The Asheville real estate market in April has been marked by positive growth and dynamic activity. With increases in inventory, new listings, and the percent of the original list price received, along with a decrease in days on market and list to close times, it's clear that Asheville continues to be an attractive and competitive market for both buyers and sellers.

Whether you're looking to buy, sell, or simply stay informed about the local market trends, April's data provides a promising outlook for the months ahead. Stay tuned for more updates as we continue to track the exciting developments in Asheville's real estate scene.

Posted in Market Updates
May 17, 2024

May is National Moving Month

 

May marks National Moving Month, the start of the peak moving season in the U.S. The combination of pleasant weather, school breaks, and a bustling real estate market makes May an ideal time for relocating. Here are some tips to help you navigate your move efficiently.

Why May is Perfect for Moving

  1. Great Weather: Mild conditions mean fewer weather-related issues.
  2. School Breaks: Moving now minimizes disruption for school-aged children.
  3. Real Estate Boom: Increased home availability makes it a prime time for buying and selling.

Tips for a Smooth Move

  1. Plan Early: Book your moving company 4-6 weeks in advance.
  2. Declutter: Sort and reduce your belongings to simplify packing.
  3. Pack Smart: Label boxes clearly and keep essentials handy.
  4. Notify Important Parties: Update your address with utilities, banks, and the post office.
  5. Treat Movers Well: Provide refreshments and be considerate.
  6. Prep Your New Home: Ensure it’s clean, utilities are set up, and repairs are done.

Financial Tips

  1. Budget: Plan for all moving-related expenses.
  2. Check Insurance: Understand what’s covered and consider additional insurance.
  3. Tax Deductions: Active-duty military may qualify for moving expense deductions.

Handling the Emotional Side

  1. Say Goodbye: Visit favorite places and friends for closure.
  2. Embrace New Beginnings: Research your new area and get involved.
  3. Stay Connected: Maintain relationships with old friends through visits and calls.

National Moving Month is a time for new beginnings. By planning ahead and staying organized, you can ensure a smooth transition to your new home. Embrace the change and look forward to the opportunities ahead!

Posted in Relocating??
May 3, 2024

What Do Realtors Do - Part 2

As mentioned in the last post, real estate transactions mark significant milestones in people's lives, and real estate agents serve as indispensable guides throughout this journey. They offer expertise, legal acumen, market insights, and emotional support, ensuring clients navigate the complexities of buying or selling property with confidence.

Expertise and Guidance: Agents provide invaluable market knowledge and negotiation skills, guiding clients through pricing strategies and contract negotiations.

Navigating Legalities: Agents help clients understand complex contracts and local regulations, ensuring smooth and legally compliant transactions.

Market Insights: With access to data-driven insights, agents empower clients to make informed decisions about property investments.

Emotional Support: Agents offer empathetic support, easing the emotional stress often associated with real estate transactions.

While agents may earn significant commissions, it's crucial to recognize the substantial expenses and financial responsibilities they bear, including taxes, insurance, and retirement savings.

With all this being said, real estate agents are more than transaction facilitators; they are trusted partners committed to their clients' success and satisfaction, offering expertise, support, and guidance every step of the way. We hope after learning a little more about us you will come to realize just what we do for our clients :)

Posted in Realtors
April 19, 2024

What do Realtors Do - Part 1

Real estate transactions often mark significant milestones in people's lives. Whether it's buying a first home, upgrading to accommodate a growing family, or downsizing for retirement, these decisions carry immense financial and emotional weight. In this intricate dance of property transactions, real estate listing agents emerge as invaluable allies, offering expertise, guidance, and unwavering support to their clients.

1. Expertise and Guidance

At the heart of a real estate agent's value proposition lies their expertise and guidance. These professionals bring a wealth of market knowledge, negotiation skills, and experience to the table. In what is often the largest transaction of their clients' lives, the agent's guidance remains indispensable. From crafting pricing strategies to navigating complex contract negotiations, agents serve as trusted advisors, ensuring their clients make informed decisions every step of the way.

2. Navigating Legalities

Real estate transactions are fraught with legal intricacies and regulatory requirements. Agents play a pivotal role in helping clients understand contracts, disclosures, and local regulations. By providing clarity and guidance on legal matters, agents ensure a smooth and legally compliant transaction process, mitigating the risk of costly legal disputes down the line.

3. Market Insights

Agents are at the forefront of market trends, armed with insights into property values, inventory dynamics, and neighborhood trends. By leveraging data-driven insights, agents empower their clients to make informed decisions about buying or selling property. Whether it's identifying emerging opportunities or assessing market risks, agents serve as invaluable sources of market intelligence, helping their clients maximize their real estate investments.

4. Emotional Support

Beyond their professional expertise, real estate agents offer crucial emotional support to their clients. Buying or selling a home can be an emotionally charged experience, fraught with uncertainty and stress. Agents act as empathetic allies, providing reassurance, guidance, and a steady hand throughout the process. By offering support and perspective, agents help clients navigate the emotional rollercoaster of real estate transactions, fostering trust and confidence every step of the way.

The True Cost of Real Estate Agents

Despite the vital role they play, there's often a misconception about the financial rewards enjoyed by real estate agents. While it's true that successful agents can earn significant commissions, it's essential to recognize the myriad expenses and financial obligations they incur in the course of their work.

Agents work tirelessly, investing weeks, months, and sometimes even years with clients before a transaction materializes. And when a deal does close, agents must contend with a multitude of upfront expenses, including broker fees, office rent, MLS dues, advertising costs, and more. These expenses can quickly add up, eating into the agent's commission earnings.

Moreover, agents are responsible for managing their own taxes, including self-employment tax, federal withholding, social security, and Medicare contributions. Additionally, they must set aside funds for independent health insurance and retirement savings, as they do not benefit from employer-sponsored retirement plans.

In essence, the true cost of being a real estate agent extends far beyond the commission check. It encompasses a myriad of expenses, financial responsibilities, and the invaluable investment of time and expertise.

With all this being said.....

Real estate listing agents play an indispensable role in guiding clients through the complex and emotionally charged process of buying or selling property. From offering expert guidance and navigating legal complexities to providing emotional support and market insights, agents are steadfast allies, committed to their clients' success and satisfaction.

While the financial rewards of being a real estate agent can be substantial, it's essential to recognize the significant expenses and financial obligations that come with the territory. Behind every successful transaction lies a dedicated agent, investing not only their time and expertise but also shouldering the financial burdens that accompany their profession.

In light of their invaluable contributions and the true cost of their profession, it's clear that real estate listing agents are not just transaction facilitators but trusted partners in their clients' real estate journeys.

Posted in Realtors
April 12, 2024

March Market Stats for Buncombe County

As spring blooms across Buncombe County, the real estate market is abuzz with activity, signaling a promising start to the season for both buyers and sellers alike. Let's delve into the highlights of the March market report, revealing key insights and trends shaping the local housing landscape.

Overall Market Trends: March brings a surge of activity, with the market showing a noticeable uptick in various metrics compared to the previous month. From new listings to pending and closed sales, the numbers paint a picture of a bustling real estate scene in Buncombe County.

New Listings Soar: One of the most significant shifts in the market is the dramatic increase in new listings. Home sellers are stepping onto the scene in droves, providing a much-needed boost to inventory levels. This influx of new listings creates a more welcoming environment for prospective homebuyers, offering a wider array of options to explore.

Pending and Closed Sales on the Rise: In tandem with the rise in new listings, both pending and closed sales are experiencing an upswing. Buyers are eager to capitalize on the expanded inventory, leading to increased activity in the market. The growing number of pending and closed sales reflects a heightened level of confidence and momentum among both buyers and sellers.

Decrease in Days on Market: A particularly encouraging trend for sellers is the decrease in days on market. Homes are spending less time lingering on the market, signaling a quicker pace of sales. This decrease is indicative of heightened demand and competitive bidding scenarios, ultimately benefiting sellers by expediting the selling process.

Months of Inventory Supply Increase: Despite the surge in new listings, the months of inventory supply have seen an increase. This metric, which measures the balance between supply and demand, indicates that while inventory levels are rising, demand continues to outpace supply to some extent. However, the increase in supply bodes well for buyers, providing them with more options and potentially alleviating some of the competitive pressures in the market.

March has brought a wave of activity to Buncombe County's real estate market, with increased listings, sales, and a quicker pace of transactions. While sellers enjoy the benefits of decreased days on market, buyers are met with a more favorable inventory landscape. As we navigate through the spring season, these trends set a positive tone for the continued vitality and resilience of Buncombe County's real estate market. Whether you're buying, selling, or simply observing, now is an exciting time to be part of the dynamic housing market in our community.

 

Posted in Market Updates
April 3, 2024

Danielle Hale - March 2024 Market Update

If Danielle Hale isn't on your radar yet, you'll want to take note. She's the brains behind Realtor.com's economic insights as their Chief Economist. In an industry where change is constant, having someone like Hale is invaluable. Her role involves delving deep into real estate trend data, distilling it into actionable insights for both consumers and industry professionals alike.

In our rapidly evolving real estate landscape, staying informed is key. That's why we're excited to share Hale's latest Economic and Housing Market Update for March 2024. In this insightful video, she breaks down the latest trends and developments shaping the housing market. Whether you're a seasoned investor or a first-time homebuyer, this update is essential viewing.

You can catch the full video here: Link to the video

Don't miss out on the opportunity to stay ahead of the curve with Hale's expert analysis. Watch the video now and gain valuable insights into the dynamic world of real estate economics.

 

Posted in Market Updates