Late fall splurge in Asheville Real Estate

It seems that November will turn out to be a good month for Real Estate in Asheville. Buyers are trying to get under contract so they can close by the end of the year. Many are realizing that bargains are to be had now. Waiting for winter might not be the best tactic. Chances are many sellers will remove their listings until spring. That is if they can afford to.
Asheville was not hit with the high forclosers that other cities have seen. Most of the purchases over the last 2 years were not subprime mortgages. While there are still some properties going into forcloser the rate is about the same as last year.
Hope everyone had a good Thanksgiving. Now onto the Christmas Holidays. We will give you a report as to the end of the month numbers at the end of the week.
Michael

www.kellerwilliamsasheville.com

Get ready Asheville

Sorry for the delay in blogging this month,but I have been traveling and am currently in Las Vegas at the National Associations of Realtors convention. (Tough life!) While learning the best and latest techniques in getting property sold, I also got to completely understand absorption rate calculation and what it means. In doing the rate for Asheville, we find that we have an inventory of 16 months. This means that it will take 16 months to sell all the houses currently on the market. While that is high (6 months would be a neutral market) it is better than it was 3 months ago (22 months).

So the trend is positive. If I was a buyer I would be looking now for bargains since this probably won't always be the case next year. There is plenty of mortgage money for investors as well as owner occupied homes. I will explore some of the newest tecnology next week.
Michael

www.kellerwilliamsasheville.com