Merry Christmas Asheville Real Estate

Well, we got a little Christmas present this year from the Real Estate market. The Asheville market is showing an increase in pendings and certainly more activity than usual at this time of the year. In fact the numbers show that December pendings are better than November, which almost never happens, even in good years.

Certainly the latest report from the National Association of Realtors bears this out: Pending home sales rose for the second straight month -- and were up by 16 percent in the Northeast region and 8.4 percent in the West.

We all know that housing still has a long way to go to full recovery, but Dr. Lawrence Yun, chief economist for the National Association of Realtors, believes that "the worst of the credit crunch has already worked its way through" the system … and home sales should not only bottom out but register a modest increase sometime during the next 12 months.

Buyers have never had a better time to buy with mortgages still around 6% and eager sellers waiting to sell their home.

I am leaving for London tomorrow and will be back after Christmas. I will have a year end rap up at the end of the month.

Happy Holidays Everyone!!

Michael

www.kellerwilliamsasheville.com

Asheville Real Estate New Home Sales

The biggest problem with our market in Asheville, is the low volume of new home sales. In some cases that market is down over 40%. And with more new construction coming on the market , prospects for 2008 are not looking to good.....for sellers, that is. As for buyers, developers are making all kinds of concessions. If you are in the market for new construction, don't be afraid to ask for all sorts of perks. Want upgrades in floors, appliances, finishes, etc, just to name a few. Maybe you want the developer to bu down the rate from 1/2- 1% point. Good chance they will do it. Make payments for 6 months or a year? Could be.

What they won't do is lower the purchase price, so don't ask. This would effect the appraisal values of other units within the complex. All the perks are not seen in the appraisals. So go out there and find your dream home and give your list of things you want in your new home. You will probably get all or at least most of them. So goes the state of Real Estate in Asheville, NC

Michael...

www.kellerwilliamsasheville.com

Asheville makes the top ten!

We are on so many top ten lists, but this one is very interesting. While the price of homes went up double digits in many other parts of the country, Asheville moved just a little ahead each year. Now while the big boys are in steep declines, Asheville's real estate moves into the top ten of communities with an increase in appreciation. In fact, the value of single family homes went up 9% over last year. Now the fact is that the market is down in total volume about 10% in Asheville Board of Realtors' territory, but what they are buying is up in price. Isn't that interesting. What does that really say. Well, for one thing, it says that maybe there are fewer cheap houses available, period (which I think is the case).

If you are a serious buyer or investor, make December your month to look for property. There never is a better time to buy than December. And sellers, only real buyers come to look now. Don't wait until next year to list your home. Otherwise you will be in with 100's (maybe thousands) of others.

More next week!

Michael

www.kellerwilliamsasheville.com