Time Traveling Through Hendersonville's Real Estate: A Birthday Reflection on Growth and Market Trends

Imagine stepping into a time machine that transports you back to 1981, then zooming forward to today's dynamic economy. That's exactly what we're doing in today's special birthday edition of our show, where we celebrate with a bit of nostalgia and a lot of insight into Hendersonville, North Carolina's evolving real estate market. We'll take you on a journey through the past, comparing the economic landscape of yesteryears with the current state of affairs, playfully guessing at past prices and marveling at the leaps in home prices, college tuition, and more. It's not just a history lesson; it's a unique perspective on how far we've come and where we stand today.

Turning another year older has me reflecting on the intricate dance between life's milestones and the real estate market. Join us as we chat about the tailored approach to real estate decisions, emphasizing their alignment with your personal journey rather than the ebb and flow of market tides. We'll share a slice of Henderson County's market, from average home prices to current trends, and dive into the financial perks of homeownership and investment properties. As I blow out my 43 candles, I'm grateful for the chance to have supported over 1,400 families in finding their place in the world, and I look forward to sharing these stories and insights with you.

Wrapping things up, we'll give you the nudge to get those taxes filed and then pivot to the excitement of local real estate offerings. From a charming historic home in Weaverville to a pristine lakeside retreat in South Carolina, the possibilities are as varied as they are enticing. We're proud to spotlight the George Real Estate Group's track record of excellence and their dedication to finding the best fit for every family. So, if you're seeking wisdom on navigating the real estate market or just curious about what makes Henderson County homes so special, you've come to the right place!

Quality Home Consultants
Over 35,000 Home Inspections since 1998, Quality Home Consultants are ready to serve you.

Pure Haven Photography
Pure Haven Photography offers real estate visual solutions including photography, videography, drone

Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.

Transcript

Speaker 1: 0:00

Hello friends, thank you so much for being here. This is the George Real Estate Group podcast, which is a production of our live weekly radio shows hosted on multiple radio stations here in Hendersonville, north Carolina. The George Real Estate Group serves Western North Carolina and upstate South Carolina and it is a privilege to share positive news about our local real estate market and community. Thanks so much for subscribing and, of course, if you have any real estate questions or if we can help you in any way, be sure to reach out. Visit us at georgerealestategroupradiocom for more information. Good morning and welcome to the George Real Estate Group live radio broadcast here on the queue every Monday morning, sharing with you positive news about your local market and community, and grateful to be here with you.

Speaker 1: 0:48

If you're tuning in for the first time ever, george Real Estate Group's located in Flat Rock, right next to the Flat Rock Bakery. Our friends at Hubba Hubba are now open. I mean, they came out of hibernation, their regular winter hibernation, and they're now open. You can get some brisket Fiber Nation, and they're now open. You can get some brisket. They also have some incredible barbecue tacos as well. And then our friends at Campfire Grill Grateful to be here and also again, we are located in Flat Rock. Stop by our office. You can find us online realestatebygregcom. You can also call us directly at 828-393-0134. Find us online at realestatebygregcom. But just grateful to be here with you with our regular Monday morning radio show.

Speaker 2: 1:26

Noah, may I interrupt, please you can? This is Mark. I work the board for Noah's show. You cannot get started this morning with the crux of the real estate show without being wished a happy birthday.

Speaker 3: 1:37

Oh, thank you, Happy birthday today?

Speaker 2: 1:39

Well, I'm grateful. Do I dare ask you how many? Well, yes, I'm grateful Again. Do I dare ask you how many?

Speaker 1: 1:43

Well, yes, I'm happy to share because I was born in 1981. Ouch, ouch, so I'm 43.

Speaker 2: 1:50

Ouch, wow, yeah, well, congratulations, I'm very grateful.

Speaker 1: 1:54

A lot of things to be thankful for.

Speaker 2: 2:00

And yeah, I was like I mean, of course, I'm going to do the radio show on my birthday. Do you get paid time and a half today? That's right, because you're working on your birthday. The show must go on. Yes, it does, so I'll digress, happy birthday no no, no, thank you so much.

Speaker 1: 2:09

Back to your show. I actually thought it would be fun to do a 1981 throwback on life right, look at maybe some of the what was happening in 1980?

Speaker 2: 2:21

What were the house prices in 1981?

Speaker 1: 2:23

House prices. Do you want to take a guess what the median home price was in?

Speaker 2: 2:27

1981? In 1981, I'm going to say $47,000. Good guess, it was actually $70,000. I was originally going to say $72,000. There you go, but I thought surely it was less than $72,000.

Speaker 1: 2:41

Well, you know what they say with test taking or answering, you go with your first. I should have gone with my first, your first answer there. Okay, but $70,000, the cost of a new car, $7,500 in 1981.

Speaker 2: 2:53

And people bought a car and went how am I ever going to pay for this Right? Well, I'm just like how will I ever pay off $7,500? Yeah.

Speaker 1: 3:01

I mean incredible. And then annual tuition for college. You want to take a guess on that? Oh wow.

Speaker 2: 3:07

Wow $5,000.

Speaker 1: 3:08

$3,100. Oh boy, the cost of bread in 1981, 54 cents Now. This is going to be higher than you would think because of what was going on in the early 80s. Okay, Cost of gas.

Speaker 2: 3:23

Oh sure, sure, I'm going to say 85 cents it was $1.35 in 1981.

Speaker 1: 3:30

That was a lot. Yeah, it was.

Speaker 4: 3:32

In 1981.

Speaker 1: 3:34

Of course it was. I mean our average right now we're around $3.50, $4, depending, but so fascinating when you look. Now here's a really fascinating thing. Now here's a really fascinating thing. What?

Speaker 4: 3:51

1981 is to 2024 is 1938.

Speaker 1: 3:56

As far away as 1981 is to 2024.

Speaker 2: 4:00

Ouch, isn't that amazing. That's wild. That is to 2024. Ouch, isn't that amazing. That's wild. That is a real mind bend. That is a real mind bend.

Speaker 1: 4:18

And you think and this is really interesting because we look at the costs of things in 1981 and we look at how they are and what they are now, that seems, and somehow we all made it and figured it out, right right, in 1938, the median home price thirty nine hundred dollars in 1938, yeah, uh, the the cost of a new car in 1938, 860 dollars. Yeah, I say $500. Yep, a loaf of bread $0.09. They're just giving it away.

Speaker 2: 4:49

I mean it's, but at that time $0.09, I mean, Well, it's the value of a dollar. If a kid had $0.09 in his pocket, he was rich. He was. You'd go to the candy store.

Speaker 1: 4:59

You'd get the one cent I mean, like a loaf of bread, $0.09. Cost of gas was $0.20. It's just interesting when you look at these, I mean because we think this seems impossible. Look at the cost of houses and cars and the average income in 81 was like $21,000, adjusted for 2024. That'd be $64,000. But I mean now the average income is $71,000. It's just fascinating to look back on those times.

Speaker 1: 5:34

But thank you for the birthday wishes, of course I was like it'd be fun to do a throwback and look at some of the things that went on in 1981. I mean it was. Ronald Reagan's inauguration and release of the Iran hostages. The first space shuttle mission, STS-1 Columbia. There was also the assassination attempt on Ronald Reagan. This is one for all those that grew up in the 90s. Mtv was launched Right In 1981.

Speaker 2: 6:03

Do you remember what the very first video was? Oh, you're going to no, tell me. The Buggaloos video killed the radio star.

Speaker 1: 6:10

Oh, there you go, isn't that appropriate? Yes, apropos 1981. So again, grateful Again. I've been doing real estate since 2005. So thankful to coming up on 20 years, 19 years in the real estate industry, doing real estate. So much to be thankful for, very grateful. We have an incredible team in place at the Georgia Real Estate Group, located there in Flat Rock, and we are so thankful. We have been growing and it's interesting. The market, the market's the market, and we're going to jump into what some of the market data is and what it looks like and where our average price is and median price. It's interesting, even though the market is down when you look at this year. And when I say down, let me clarify I'm referring to the number of homes selling versus. I'm not talking about the prices, because prices are up, prices keep going up and that's because of supply and demand and prices continue to go up. And that's because of supply and demand and prices continue to go up and we're helping a lot of people and the thing is we are outpacing and it's interesting.

Speaker 1: 7:15

Whether you're an athlete or whether you're a business owner or whether you're competing or some type of competition, the thing is you always want you know what the coaches say is you want to compete against yourself. It's not when you. Well, comparison is just. It can be a downward spiral and there's always going to be somebody that has more than you, somebody that always knows more than you, somebody that's always gone further than you. But it's when you compare your progress against yourself and look how far you've come, look how far you've gone, and that's where, at the George Real Estate Group, the growth that we've had, the growth that we've experienced, we are up over 100% this year. We've done twice as much year to date this year as we've done last year. It's the pure effort and determination and grit of our incredible agents at the Georgia Real Estate Group, the group, that we've grown the number of agents that we have. There's 25 of us and we're serving our community and that's in a market that's actually seen a downturn in the number of homes selling. That's the market downturn. But I'm so thankful to report because of our group, because of our agents, because of our team, and ultimately we're so thankful for our clients that have helped us navigate and our clients that we're here to navigate and help them and advocate for our clients navigating through the real estate market. The prices keep going up. The interest rates the interest rates are the interest rates and it's interesting we're closely and quickly approaching 40% of our sales. It's under 40% but it's in the high 30s. Over 35% of our sales in Henderson County are purchased with cash and so cash sales are continuing to happen and the interest rates are the interest rates.

Speaker 1: 9:02

And I say this a lot but it's true. We know real estate happens around life. It's the positive moments, it's the happy moments. Maybe it's the new job or the new family formation, or maybe it's the new children in the house, or maybe it's the retirement. Again, it could be these really positive reasons why people are buying and selling. That may be a catalyst for someone looking to buy or sell.

Speaker 1: 9:28

Again, really happy moments that we've been able to, and honored to, walk along with our clients and rejoicing with them and helping them through these amazing moments. And then we also have the privilege of walking alongside our clients through their challenging moments. And because life happens, it can be. Maybe it's a job loss, maybe it's a death, maybe it's a divorce. I mean there's these moments, I mean we all face them, the challenging moments, and so real estate might be happening because of a challenging moment in your life and we don't take it lightly, whether it's the joyful moments or the sad moments. I mean we're there to navigate through and help our clients, whatever it might be, and it's an amazing experience and we're thrilled and happy to walk alongside with our clients. And so when the house is when it's right for you, it's not about the prices of homes, it's not about the you know the interest rates. It's not about the economy, it's not about the market. You know it has to be right for you in your life. And so we do consultations all the time where people are just discovering, they're just curious, they're trying to find out. You know what makes sense for us, what's my home worth, what would it sell for or what could we buy? And we get you connected to our lenders and we have you connected to our incredible agents and our attorneys and our tax advisors. And we have an incredible group and whether you need a contractor or a surveyor or an appraiser, and we have an incredible group together that ultimately serves our clients navigating through the buying and selling process.

Speaker 1: 11:01

Just for a quick market snapshot the average single family home price in Henderson County. The average single-family home price in Henderson County. The average single-family home price in Henderson County is at $534,000. That number keeps going up, close to 7% appreciation over the last 12 months. When you look at the current 12 months versus the previous 12 months, the number of homes selling in the last 12 months, there's been 1,467 homes sold over the last 12 months. We're averaging 122 single-family homes a month selling. It's interesting, though, if you look at year-to-date this year versus year-to-date last year, it looks like we're going to be on par in the number of homes selling, which, again, 122 single family homes a month are selling on average over the last 12 months in Henderson County. Over the last six months it's really close to 100, but that's typically.

Speaker 1: 11:58

You have a seasonally adjusted demand and we are going into the spring market. You know that's another fascinating thing too, because traditionally and typically we see more inventory hitting the market. You know and we're working with some incredible homes that we put a number of homes already under contract over the weekend. I mean every week we're putting homes under contract, we're helping our clients, we're helping our buyers, we're helping our sellers navigate through what that looks like and, again, providing clarity, providing advice, providing information so our clients can decide what's right for them. So our prices keep going up. The demand is remaining steady and I use single family homes as a litmus test because obviously there's condos that are selling, there's townhomes that are selling.

Speaker 1: 12:46

We're selling a lot of land and we're working and we have opportunities we're putting together. Maybe you want to buy land and build. We have a team of architects and contractors and we can do a land home package. We can help you navigate through that. Maybe that's something that's on your radar. You've had that dream of building that home and, whether it's on your own land or on land that we have for sale, we can help you do a land home package, work with the contractors, work with the architects and help you put that together. That's something we've been navigating as well.

Speaker 1: 13:20

I mean, whether you're selling land, buying land, whether you're buying or selling residential real estate, whether you're buying or selling your investment properties and that's doing you might've heard of a 1031 exchange. I mean there's a lot of different benefits and ways we can help you with real estate. Of course, if you're selling your primary home, if you've lived in the home two out of the last five years, if you're an individual, you do not pay capital gains up to the first $250,000 of profit and then, as a married couple filing jointly, you also get to the first $500,000 of profit you're not paying taxes on as well capital gain taxes. There's some incredible benefits of home ownership, and then not only the appreciation of it, the use of it, the enjoyment of it, and then the tax benefits of it. There's so many things you can do and also the tax benefits of owning investment properties and we're helping our investors with their portfolios and whether you are renting it out long term and or maybe you decide to sell, you know we can help you navigate through all of that as well. You know, just grateful to be here with you. We're going to jump into some more numbers here after the break, but grateful to be here with you. Yes, it is my birthday and celebrating 43 years and been doing real estate 19 years of those 43. And we're very grateful. In my career and with our team, I've had the privilege of helping over 1,400 families with their real estate, coming up on $350 million worth of real estate in my career with our team and selling, and just grateful and the friends we've made, just people we've met from all over the country and people that have moved here and then just grateful to be here.

Speaker 1: 15:05

You're listening to the George Real Estate Group live radio broadcast here in the queue every Monday morning. You can give us a call at 828-393-0134. Find us online at realestatebygregcom and be sure to subscribe to our podcast, george Real Estate Group podcast. But stay tuned in, we'll be right back. Good morning and welcome back. You're listening to the George Real Estate Group live radio broadcast here on the queue Every Monday morning, bringing you positive news about your local real estate market and community. Grateful to be here with you On this April 15th.

Speaker 1: 15:38

It's also tax day, which, if you have not filed your taxes, go ahead and file that extensions. I don't know if the myth is true. They said those that file extensions are less likely to get audited. I don't know if that's a true story or not, but apparently you're it's. You know, I've heard that rumor among tax professionals. Not, it is certainly not a reason to go file an extension. Go file on time. But it seems counterintuitive and that just might be a myth that I've heard. But again, go file your taxes if you've not done that yet today.

Speaker 1: 16:14

And then real estate. The real estate market continues to move. Our average single family home price in Henderson County is over $534,000. I was sharing at the beginning of the show just some comparisons. If you look back in 1981, the median home price was at $70,000. Adjusted for inflation, actually that's $215,000. But the median home price in 1981, $70,000. The actual where we are here in 2024, when you look across the country, the actual home price across America, the median home price across America is $428,000. $428,000. Also, the average cost of a car is at $48,000. And then college tuition is $35,000 plus. And that's according to public four-year colleges. According to the college board data, a loaf of bread is $1.66. Oh, adjusted for inflation was $1.66. And then actually gas was higher. Adjusted for inflation, that'd be $4.15 in today's dollars. The minimum wage in 1981 was $3.35. And here we are, I think it's at $3.35, and here we are I think it's at $7.25. Is the federal. I think that's been the same since 2010, the federal minimum wage. It's just interesting Again, it's fascinating to look at the numbers and look at the data and see certainly what's happening with the economy and the real estate market.

Speaker 1: 18:09

But the thing is the real estate market. We have some incredible inventory that we're working with. We have some incredible homes that we just put on the market. I want to make sure that you're aware of them and we have some upcoming listings that we'd like to share about as well. Before Chestnut Street in Weaverville we have on the market, built in 1929 for $489. This is a two-bedroom, one-bath plus a one-bedroom one-bath garage apartment for Chestnut Street in Weaverville. Great opportunity, great home for sale in Weaverville.

Speaker 1: 18:43

We also have a new home that just hit the market in the heart of Flat Rock, 1156 West Blue Ridge Road, right near Robert E Lee Drive, and it's right across the back entrance of Bon Clark. And this home was built in 1964, three-bedroom, one-and-a-half bath, 1,700-plus square feet, just hit the market for $410. Beautiful home right there in the heart of Flat Rock, right a block from the Flat Rock Cinema, rainbow Row, carl Sandburg Home. You could walk to Flat Rock Playhouse and then, like I mentioned, the back entrance of Bon Clark in there, 1156 West Blue Ridge Road. If you'd like to see that or schedule an appointment, you certainly can reach out to our team Also, 828 Foster Hill Drive.

Speaker 1: 19:33

We actually had a lot of people reaching out to us on that property over the weekend. It's interesting when you put new homes on the market and listings for sale. You have people that reach out. They're driving by. We know people drive around and are looking for properties for sale and we get the calls over the weekend. People are asking for properties for sale. And we get the calls over the weekend. People are asking hey, what's the price? What's the story on these things? And then I've shared we primarily do Western North Carolina and our team also does upstate South Carolina as well.

Speaker 1: 20:00

We have a brand new listing on a lake in Inman, south Carolina 226 Rushing Waters Drive in Inman, south Carolina. This home was actually built in 2022, basically brand new on Lake Cooley. If you've not checked out Lake Cooley, it is absolutely beautiful. It's a five bedroom, four bath property, luxury living, breathtaking views and a lot of recreational possibilities a sloping gentle yard. Again this property also being sold with two additional lots, you might think if well, and let's just be candid the cost of living is. You know, the prices are a little bit higher up here in western north carolina. Uh, this house would be significantly higher if it was in North Carolina, but this is the benefits of buying in South Carolina, for one of the many reasons. But this property is only $675,000. This property is over 3,300 square feet built just in 2022, 1.87 acres.

Speaker 1: 21:04

If you're interested in upstate South Carolina, especially lake property, 226 Rushing Waters Drive, you can actually go to our website, realestatebygregcom, and you can see this listing on our website just on the front page, if you're just curious and, of course, if you'd like to schedule an appointment to see that we do handle and help. We have agents that live in South Carolina that help our South Carolina clients, and so if you're curious about that home or any other properties in upstate South Carolina, we can help you buy or sell here in Western North Carolina. We can also help you buy and sell in upstate South Carolina as well. And then we have a condo for sale on Abbey Circle 2005 Abbey Circle in Asheville and this is a two-bedroom, two-bath condo in Asheville only $269. Great condo available New HVAC, custom kitchen cabinets, new refrigerator, new hardwood floors. This property is a deal $26 in Asheville in the Cloisters and just beautiful, beautiful property.

Speaker 1: 22:10

So we have all types of property. We have land for sale. We have 13 acres for sale in Laurel Park if you're interested and maybe you want to have an estate. Maybe you want to subdivide it, maybe you want to build your home. You want to have an estate, maybe you want to subdivide it, maybe you want to build your home. I mentioned that we have the ability to help you navigate buying land or building on your existing land. We have contractors and architects. We have an incredible team in place if you'd like to explore that possibility as well. But we have 13 acres on Clay's Cove in Laurel Park and it's a beautiful 13.16 acres and this property is only $334,900, almost 335. A great 13-acre track with unique combination of mountain views and southern exposure. It has a natural spring on it, southern exposure, it has a natural spring on it. All very convenient location in Laurel Park in this zone called ETJ.

Speaker 1: 23:14

So again, just giving a sample of some of the inventory, some of the listings that we carry and again a lot of our listings. Sometimes they hit the market and they go under contract quickly. We still see multiple offers in this market because of the low inventory levels. In Henderson County we have less than 300 active homes on the market and this morning, as of this morning, there's only 292 active single-family homes on the market and we still see homes over. Actually, over a thousand of the 1,500 homes that sold were selling in the first 30 days, and so homes are going so quickly still, and so that's why the inventory levels. This is why prices keep going up. Prices keep going up because the demand, albeit lower than what it was during the previous 12 months, it's still outpacing the inventory levels. So less than 300 active homes in the market.

Speaker 1: 24:15

You might find this surprising. The average available home price in Henderson County of what's available $825,000 is the average available home price and that's compared to 534 is the average closed price is $534 over the last 12 months, but the average available home price is at $825. And then another indicator is the homes that are pending. There's 250 homes pending right now and the average price of what's pending is at $542. So it's an indicator that our prices are going to keep going up. Here's the thing the market's the market, the interest rates are the interest rates. But we know your home's unique and different, your situation's unique and different, and that's why, at the George Real Estate Group, we provide a very specific approach, unique to your situation, unique to your home. We do a two-step approach, and so if you're just curious what your home is worth, if you want to have a conversation, maybe you're not even thinking about selling, but maybe you need a recommendation for a contractor or a handyman or a plumber or an electrician or a contractor. We can help you out there too.

Speaker 1: 25:30

Quality home consultants these guys. They've done over 35,000 home inspections over 35,000 home inspections in the Western North Carolina area, and they also do septic services. These guys are incredible and quality home consultants. You don't even need to be buying or selling If you just want to do a home inspection. Have somebody crawl in your crawl space, somebody go in your attic, somebody go on your roof. It's like getting your oil changed on your car. You want to take care of the maintenance. Also, majority of us have septic. If you're not on city sewer, you have a septic system, and if you've not had it inspected or pumped out, you might want to have them come out. So, quality Home Consultants. They do home inspections and septic services. You can call them directly at 687-7221. 687-7221. Area code 828. Jim Rawlings, quality Home Consultants.

Speaker 1: 26:32

And then I also want to say thank you to Pure Haven Photography. They make our listings come to life. These guys are incredible Justin Lauder and his team. They make our listings come to life and whether it's the $100,000 house or whether it's the million dollar house, it's just professional photography at another level, and so we're thankful for Pure Haven Photography and their sponsorship of the radio show as well. They also maybe you have a rental property and you have it on Airbnb or VRBO. Also, you don't have to be buying or selling to use Pure Haven Photography. Maybe you have land and you want to have it droned and you want to see what the aerial shots look like of your property. You can do drone photography with pure haven photography and you can also call them directly at 828-447-6182. 828-447-6182 pure haven photography, justin lauder.

Speaker 1: 27:31

They do an incredible uh work for our our clients and for our team, and we're so thankful for them. It really is a team effort, whether it's our home inspectors, our photographers or our attorneys or our lenders or our accountants. Again, it's a group effort and again, this is where, at the George Real Estate Group, we bring together everyone to help our clients navigate through the buying and selling process, and it's a group of professionals that we can help you. And the economy is the economy. The market's the market, the interest rates are the interest rates, and this is where we've been showing up.

Speaker 1: 28:07

I joke that I'm an overnight success. That's taken 19, 20 years of showing up every day and we keep showing up. We're going to keep showing up and helping our clients and we're here to advocate for our clients and so if we can help you in any way, give us a call 828-393-0134. Find us online at realestatebygregcom. You can also stop by our office there in Flat Rock, 2720 Greenville Highway there in Flat Rock, and be sure to subscribe to our podcast. We podcast all of our radio shows. Well, thank you so much for tuning in this Monday morning, grateful to be here with you, grateful to be alive, grateful for the future, grateful for just our team and our clients, and so just we will be here next Monday and I hope you have a great day and take care.

Speaker 3: 28:56

Hey guys, it's Lucy Miller, george, your favorite nine-year-old and I'm here to talk about the George Real Estate Group. Are you ready to sell your home and move on to bigger and better things? Well, let me tell you my family knows a thing or two about selling houses. We have the experience of helping over 1,300 families and, let's be real, selling your home is a big deal, but with our expert guidance and our terrible dad jokes and Lucy jokes, we will make the process as easy and painless as possible. Want to hear a joke? Why did the real estate agent cross the road To get to the other listing? Okay, maybe our jokes aren't the best, but our selling skills are definitely are. Give us a call today 828-393-0134. Have a nice day 393-0134.

Speaker 4: 30:03

Have a nice day. The George Real Estate Group has the experience of selling over 1,200 properties and serving over 1,200 families with their real estate needs in Henderson County and throughout Western North Carolina. The George Real Estate Group is located in Flat Rock. The George Real Estate Group is located in Flat Rock, north Carolina, near Hendersonville in Henderson County. You can find them online at realestatebygregcom. The George Real Estate Group can be reached at 828-393-0134 or stop by their office at 2720 Greenville Highway, flat Rock, north Carolina. 2720 Greenville Highway, flat Rock, north Carolina. Tune in live each week on Monday mornings at 9.05 on WTZQ FM 95.3 and 1600 AM or stream online at WTZQcom.