Exploring Hendersonville's Charm and Real Estate Wisdom: From 1031 Exchanges to Vibrant Community Life

Ever wondered how the charm of Hendersonville could fit into your life, or how a 1031 exchange could fatten your wallet after selling your home? Our latest episode whisks you away to the scenic vistas of Western North Carolina and upstate South Carolina, offering a treasure trove of real estate wisdom. From the allure of downsizing for retirees to the financial savvy of refinancing opportunities amid high interest rates, we've got your guide to navigating the market like a pro.

But it's not all contracts and closing costs; we're peeling back the layers of Henderson County's vibrant community life. Imagine tapping your feet to the rhythms of bluegrass at the Feed and Seed or savoring the culinary delights of Fletcher's new food court. We share heartwarming stories of maintenance-free living and the joy of shedding the burden of home upkeep, interweaving the rich tapestry of local culture that makes this region a hub of warmth and excitement.

Concluding with invaluable insights, the George Real Estate Group joins us to discuss the uptick in construction and innovative solutions like builder home packages that are reshaping the property landscape. Their expertise is not just limited to the market; they're an integral part of the local fabric, extending an invitation to connect through their weekly radio segment. Tune in for a comprehensive look at living, buying, and celebrating in a community that keeps its doors wide open, accompanied by the ever-present promise of Friday night revelries at the Feed and Seed.

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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 georgerrealestategroupradiocom for more information.

Speaker 2: 0:37

I know that sound.

Speaker 3: 0:38

You do know that sound, don't you, philip Trees, filling in for Noah for a few times.

Speaker 2: 0:44

When is Noah going to take you and I?

Speaker 3: 0:46

That's what I'm wondering. That's what I'm wondering. There'd be nobody here to do his show. Well, that's true. So there you go. That's true, there you go we can do a remote. Sure, you're the remote guy. Sure, of course you are a tech. Of course Do. He's here for the Greg Real Estate Show. Good morning Phillip Trees. Good morning Mark Page.

Speaker 2: 1:04

You guys are great.

Speaker 3: 1:05

How are things going in the real estate world?

Speaker 2: 1:07

I tell you what it doesn't seem, with all the numbers keep coming back with. I just think it just keeps staying the same here, because everybody wants. Who doesn't want to live here? Right. Who doesn't want to live here? Yeah. And you got a lot of folks that want to downsize and things like that, and that's fine too. A lot of folks are—we have a great retirement age here in Harrison County and now it's starting to—grass is starting to grow. It's like now I've got to mow the grass starting again.

Speaker 2: 1:39

And you're getting to an age where you really don't want to do that. And why should you? Right, you should be playing pickleball over there in Fletcher and taking walks and going. You shouldn't be taking care of your big yard acre and a half so you sell it right. So it's a good time to downsize and get into it Condos, no-care condos.

Speaker 3: 1:56

We were lucky enough when we sold a couple of years ago that we found some people who were upsizing. Found some people who were who were upsizing. Oh, go with, that's the other way.

Speaker 2: 2:06

We're like great, take it, here's one for you upside, for the downside, yeah, it all works out. Yeah, yeah, it did. It certainly did good point. So it's uh, sell it. I uh, even in western, even the far reaches I was uh last weekend uh with some clients and we were uh, far western north carolina, we're talking way out, you know that area and it was a Saturday looking around, I had two to look at they were duds, thankfully, the clients.

Speaker 2: 2:31

They found two on Zillow that were good, and so we went to go look at these and I thought, well, you know, it's Saturday and tomorrow's going to be raining and we'll maybe have a day or so to put an offer in. And the agent, the selling agent, got with me on Sunday. By the way, we have an offer on the table, but we just got back. I mean, it took us two hours to get over there. So we just got back, literally, and I had the pastor on Sunday at church and I, okay, well, I guess I better get going. And then an hour later, I'm asking for documents. Oh, now we have multiple offers. We're talking over the weekend and that's fast. I thought I had until Monday morning, but no, not in this market.

Speaker 2: 3:13

Amazing, amazing. We're talking kind of way out, not just the corridor of Buncombe, henderson, which I know is fast, but even then people want to live in this beautiful area. So it's amazing it's still kind of going fast. Interest rates, I mean, like I said, it hasn't really changed much there, but still people and like one of our uh, one of our mortgage uh helpers in our areas always says, which is a good point, yeah, the rates may be seven, six, whatever they are, you know that type, they're always changing. But if they're there, but most folks refinance or move in five years, so you get well, they're going to be there, so might as well lock in yeah, and you can always then refinance later.

Speaker 2: 3:53

So that's true. I mean don't let that be such a deterrent to getting a mortgage Right, because I mean there's flexibility. It's what goes up must come down, what goes down must go up, but it's so yeah. So you get some flexibility there. So go ahead and before it jumps too much, don't let that shy you away.

Speaker 2: 4:12

There's a lot of great packages and programs out there. We just had a. We just had a kind of a teaching time last week from one of our it's an MLS program and they came out and gave us a whole thing of all these different packages there are that now they're going to have a deal where when a house is listed it will have all these attachments with it to show all the different programs that are with that home to help with down payment help and things like that. I mean there's a lot to weed through. It's not going to be a touchdown every time, but it was kind of neat to see that there is a lot of programs to help with down payments and points and helping with the points. So there's a lot of programs to help with getting a mortgage and things like that.

Speaker 2: 4:58

So yeah it's just an amazing market I'm seeing. One thing I talked about too recently with somebody was talking about the 1031 exchange. That's been a fascinating thing to learn more about. And what is that exactly? That's a situation where your primary homeowner, you have to live in your home two out of the past five years. Now it doesn't have to be two years consecutive, a total of two years the past five years. If you lived in that home, then that qualifies as your primary residence, okay. And you sell your house. You have a house. You bought your house for $300,000. You sell it for $400,000.

Speaker 2: 5:32

Well, that's a $100,000 gain. Well, that's great, isn't that great? You get a gain financially. Who knows about that gain? Who's going to come calling with that gain? The IRS? There you go, uh-huh. So with that $100,000, there's a gain. You've made money, right? So when we make money, we're going to have to get taxed.

Speaker 2: 5:50

Well, the thing is with primary residence, if you single file jointly with taxes, you get $250,000 allowance, okay. If you're married file jointly, you get a $500,000. So that means if you've made $100,000, well, you're okay, because if you're married five-year-old you get a $500,000 gimme Gotcha, okay. So don't worry about it. Where it comes into play is if it's a secondary home. Uh-huh, an investment. Sure, secondary home, a lot of folks have a secondary home on a ski slope out in Utah, yeah, but a lot of folks have secondary homes. If you sell that, you bought it for $300,000 and you sold it for $400,000, that's a $100,000 gain, yeah, so you're going to have to do capital gains tax on that Because it's not a primary residence. Not a primary residence, boom. So what do you do? It's a hefty tax too Sure, too sure.

Speaker 2: 6:45

so there's these companies that we can hook you up with. It's really neat exchange program where the and you, you can't touch the, you can't touch that money on closing it goes straight to this company. They hold it. You have 45 days to find three opportunities, three potentials to then reinvest what the money you got from your sale okay into that. And then there's no tax. You get 45 days to find three and then when you settle on one of the three, you got 180 days in the close. So the timing is a little strange on that. I would think this market takes 180 days to find something but it takes 30 days to close. But anyways, you get 45 days to find three. Another piece of property. Another piece of property, and it used to be really strict Sold a condo can only buy a condo.

Speaker 2: 7:31

Sold land secondary investment sold land had to get. Now it's you sell a condo, you can buy a putt-putt course. I mean it's basically really freed up, now it's great.

Speaker 4: 7:42

So you can sell a condo.

Speaker 2: 7:44

Let's say you can sell that condo and exchange it for land. What a great investment. Sure, because I mean, and then you don't have to pay tax Plus, you're investing that money back and you know how land and things like that are increasing, and so it's a really neat program that I'm learning more and more about and we can help you.

Speaker 3: 8:04

Well, and that's the bottom line, is there are answers out there, there are things, there are options, there are ways to be creative.

Speaker 5: 8:09

Oh, oh oh, there are ways to be creative.

Speaker 3: 8:11

All right, this is a perfect time for a break. Let's take a break, and when we come back, can we also talk a little bit about feed and seed? We have to. And what's going on? Philip Tree is sitting in for the Greg Real Estate Show here on WTZQ. All right, and we're back. We're back. Philip Tree is sitting in for the Greg Real Estate Show this morning. So, philip, what I gathered from you in the first segment here was that, first of all, there are lots of creative ways to get around interest rates or to get around the help you need to get in for a rich or get around capital gains, there's all that sort of thing.

Speaker 2: 8:51

Yeah, yeah, yeah. But what?

Speaker 3: 8:52

I'm also still hearing is people are still buying. You just need the inventory, for sure, you just need the inventory.

Speaker 2: 9:00

It's remained. Noah gives us the numbers every week. Yeah, and it's still kind of that hovering. And here's what's interesting the number he gave me is the average house price in Henderson County. I remember for a long time. Of course it was in the high fours because it was just kind of inched up from $480, $485, $495. And then, you know, it made this jump into $520.

Speaker 2: 9:32

no-transcript homes, it'll throw it off for sure. Yeah, yeah, which we have here. Yeah, that throws it off. We have the, and then folks are, folks are downsizing those for sure, so those are a lot to keep up. So, yeah, yeah, that's that, in that, the beauty of henderson county we have, which is amazing. We have the wide range. I mean it is, um, it's not just cookie cutter right suburbs of some big metropolis, it's all the same for the whole county.

Speaker 2: 9:56

Now we have a great variety here, which is great for the, for the buyers and and great for the sellers too yeah because they can.

Speaker 2: 10:02

They can attract all kinds of folks wanting to come in here first-time homeowners, but also folks wanting to buy that second and third home, yeah, just to come in for the holidays with the family, and then they airbnb it or whatever the rest of the time, and that's great. So it's great variety. So, yeah, that seems to. Maybe that's a good indicator. Yeah, folks in this, the yard work is starting to stare at them for coming up with the spring and everything is beautiful. But the work that's going to take the kick to your property is like, oh boy, wouldn't it be great to just be like I said, these townhouses, cantos, they're so nice. It's just, you know, you walk out your door, no, worry, right. So they're neat, so they're exciting.

Speaker 2: 10:39

Yeah, I've got a little condo up in Nashville and boy it's nice. I mean you can walk to everything too, and it is nice. Now, I mean sometimes they're limited. This one has no dogs and they allow cats, but that can be. Oh, that's a tennis court and pickleball court and things like that. So they're nice, but you don't have to worry about anything when you walk out the door of your place. I mean, it's so nice, you don't have to worry about the gutters. Yeah, right Gosh, getting up on the gutters, cleaning those. What a wish.

Speaker 2: 11:10

Right, right, you know you have to invite four friends over, just to hold the ladder and you have to feed

Speaker 3: 11:15

them. So you know, it's like just for safety reasons just to clean the gutters. Yeah, my ladder and gutter days are cross. My fingers are over. When does it come?

Speaker 2: 11:25

I have clean gutters and clean gutters, and clean gutters but no more, no more, do not risk it Too much to live for.

Speaker 3: 11:32

That's what Paige is like. Mark, you are not getting on that roof.

Speaker 4: 11:35

Do not Not getting on that roof anymore, do not, so, yeah.

Speaker 3: 11:38

So let's shift a little bit, let's move over, let's talk a little bit about the feed and seed, let's talk about the other thing that you do, exactly I love doing that.

Speaker 2: 11:47

Thanks, mark. We're getting the feed and seed. Of course it's so many things other shows to go to, which is great so we kind of spread the love and just do it Friday nights and let folks go to other places on the other Saturday night.

Speaker 2: 12:05

But then we have once in a while I'll do some big shows on a Saturday night, so that's neat. So we do Friday nights and 7 to 9 pm and do mainly bluegrass. But I'll bring some country bands. Lazy Birds is a good band from Asheville. They're a neat rockabilly. They do Doc Watson and Elvis oh sure, and they do good stuff. So I bring some neat bands in every weekend.

Speaker 2: 12:22

And we got a new neighbor. We talked about it. Got a new neighbor up there and I don't mind. Hey, let's spread the love and tell about a new neighbor. There in Fletcher, the old auction building was Bagwell's Auction House. They're right across from Fannie Bridge, right there behind at the intersection there, Hendersonville Road and Fannie Bridge Road, and they worked on it for a bunch of months and they've got the auction house now, which is a food court-type situation where they've got three or four food vendors in there. They've got a two-story with a wine bar in the basement, I think, and then a brewery and everything. They've got a cornhole outside and they've got a stage outside.

Speaker 2: 12:58

So it's been a neat thing. They just opened and it's kind of like been. It's kind of been like two college in a dorm room, two college students in a dorm room, kind of look for elbow space. It's been tight but we're working with it. A lot of cars, so there's a lot of cars there in Fletcher on Friday night.

Speaker 3: 13:14

It was a great thing. I think another place with live music right there is only going to enhance what you're doing, and vice versa.

Speaker 2: 13:22

For sure, for sure, it was so fun. How does your church?

Speaker 2: 13:25

work on Sundays Great time we meet there and we just gather and sing some good old songs, old songs, a new song or two, and I just love to just teach a lesson. It's been a neat thing there on Sunday mornings we have little adults get together at 930, and we have a little Sunday school and also for about geez probably 17 years Panera Bread. Up in Asheville, panera Bread has this program called Doe Nation, d-o-u-g Doe Nation, where the bread from the night before don't throw it away, share it. So I go on Saturday mornings and get that bread and we share that. So we have, like you know, take a loaf, share a loaf. So it's kind of nice. We have some loaves of bread there from the Saturday night from. I don't do dumpster diving.

Speaker 4: 14:10

It's not. It's not that type of thing.

Speaker 2: 14:12

I've had a bear or two up there in Asheville. That's cornered me literally from going walking in there and the bears walking around the back, but I get the bread and share it to neighbors and it's a neat thing to do Take some bagels and share it to your neighbor and some muffins and things.

Speaker 2: 14:27

So that's kind of neat. So that's all we do there on Sunday mornings a neat little simple time for church and some good music and of course, doing the bluegrass on Friday nights. I've tracked some pickers a steel player, steel guitar player.

Speaker 3: 14:39

Oh sure.

Speaker 2: 14:40

And I've got a banjo player too and an acoustic guitar so that's kind of a fiddle, so it's kind of lent itself to that more acoustic with our music. And that's fine, because there's other folks that can do the cranking.

Speaker 3: 14:52

Oh, of course, there's plenty of places for that.

Speaker 2: 14:54

And it's a great flavor so there's a flavor for all and it's just a building that lends itself. Kind of a fun thing with the building we've had a little fun time is I had a band come in last March, this past March, do this little gospel show on a Sunday night and I told them during a sound check. I said you guys can officially say you came to feed and seed and blew the roof off. They say what do you mean? You're soundchecking Blew the roof off why? Because I've had a leak for a month and a half in the roof.

Speaker 2: 15:20

And so you can see daylight. So that 70-year-old roof at Fletcher Supply Company building, which we call Feed and Seed it finally gave way, wow, and I had water dripping. During the survey I had water dripping from the up roof through the third story into our second story. Oh my gosh, water coming down, dripping down. So that was interesting for a month or two at Feed and Seed. But we've got a roof coming and they're going to fix the roof. So it's been kind of funny. So I had to. You know, raindrops Keep Falling on my Head was one of the key songs they were playing OBJ Thomas.

Speaker 2: 15:54

That's funny.

Speaker 3: 15:55

So how did you get connected with this? How did you make this happen With the building? It was just a neat story, just you and the church and the music.

Speaker 2: 16:02

Yeah, we just need a place to meet and the building was in disrepair Quote it was for sale, right, supposedly. But we said, hey, can we caretake it? Can we fix it up, uh-huh, and then start doing some community music in there, because it's just a great building to share. Oh yeah, have people come in for free, yeah, and then they just give a donation to the band. The church takes care of the overhead bills and stuff. So it's a neat thing where folks can come in and local folks. They come all the time. Well, they can just give $5. Tourists come in, boy, they're generous. Tourists are generous, they give 20s.

Speaker 2: 16:37

Sure so it's great, so it works out, and the bands make nice little bucket tips, so it's kind of neat. So yeah, the band the music and then it's been a great thing for Fletcher and kind of fixing up that old building. Well, yeah, you're a staple in Fletcher now.

Speaker 3: 16:53

I mean, you've been there a long time. It that's so neat. So is there a website we can go to to find out schedules?

Speaker 2: 16:57

FeedandSeedNCcom, feedandseednccom. And then the Greg, of course. For the Greg, you know the phone number there for his 828-393-0134, george Real Estate Group. It's realestatebygregcom. Greg is George Real Estate Group.

Speaker 3: 17:14

That's their acronym for that, right? So that's where we can go to find out more about what you guys have going on. So let's get, so let's kind of get back to the real estate here with the last moments that we have, um, um, you know what? Where, where do you um? Where do you? Where do you see things going?

Speaker 2: 17:30

well, I, uh, gee, I think I think now they're building a lot of homes. Yeah, you know, we're starting to see I couldn't believe.

Speaker 3: 17:38

I was believe Whoa, I had to be out around different parts of the county recently I've come back and I said I cannot believe how much construction is going on.

Speaker 2: 17:47

So building has picked up. Remember there was that time when it was I know Supplies were stuck and all that kind of thing so building's back. That's great to see, that's great to see. That's going to help relieve some of the pressure of inventory. So that's good. And I'll say those are great and those great programs for those and those are new, yeah, and again, uh, they're great. Now you don't have like acreage and, by the way, seeing some land, uh, really pick up land sales pick up yeah, I had.

Speaker 2: 18:15

I had 30 acres plus that I sold out old fort. Wow, yeah, just a beautiful stretch.

Speaker 3: 18:20

Oh, I bet.

Speaker 2: 18:20

That's great to see. And they were getting it. You know, $10,000 an acre or something like that. So that's starting to pick up. If folks are now with building back, in reality you can get some land and you have a place. It's not going to be turnkey. It'll be turnkey once you get it. But Then get some of the land that's available and get you a builder. Actually, noah's working with some lots I have on the builder home package. Okay, that's going to be exciting to see Noah's got that kind of going.

Speaker 3: 18:56

So what is that exactly?

Speaker 2: 18:58

That's a situation where he works with an architect and a builder and they sketch up what this home is going to be on this lot and they sell it as one and that is turnkey. So if you're going to buy it, who's the house is going to be? And we've done all the homework for you with the architect and the builder and all the permits and stuff like that Very cool so that's kind of a neat situation. Now you could do it yourself, but get ready, yeah, yeah, get ready for some Also.

Speaker 3: 19:33

The other thing that's coming up also are apartment buildings, apartment and condo. They're going up like amazing, amazing yeah. So I can't help but hope that, um, the whole supply and demand thing will mean that with more apartments available, maybe the prices can I think can be a little bit level, level out a little bit, yeah, because we'll see, hopefully, so, hopefully.

Speaker 2: 19:44

So I think there's a little. There's a little give and take, sure, and it's been good, but again, it's still a good market and we can help you do a lot of the prep work to be able to sell your house. We'd love to help you with that. And with buying, you've got to get it pre-qualified, yep, you've got to show proof that if you look at cash, cash is king, that's great.

Speaker 3: 20:05

Well, especially right now, because you're getting all these different multi-offers oh, it's amazing. Yeah, so if you know what you've got and you know what you can, offer.

Speaker 2: 20:13

Yeah, you got to come in strong, yeah. So we can help you with that and provide the proof of that. And then, with a mortgage, we can help you with get pre-qualified. We have in-house firm with that too. So just call Greg, call George Real Estate Group. We can help you with that. Fantastic what's that number 828-393-0134.

Speaker 3: 20:34

And we can go online by going where.

Speaker 2: 20:37

The website Real Estate by Greg, which is Greg is George. Real Estate Group Realestatebygregcom. All right, fantastic, come out to Feed and Seed and See Us on a Friday night and again where do we get that schedule?

Speaker 3: 20:46

Feedandseedandseecom. Feedandseednccom.

Speaker 2: 20:47

All right, fantastic, come out to Feed and Seed and see us on a Friday night. And again, where do we get that schedule? How?

Speaker 3: 20:50

do we check that FeedandSeedNCcom? Feedandseednccom or just?

Speaker 2: 20:52

drive into Fletcher, you'll see the crowd. Oh yeah, oh yeah, you'll see it Follow the. Just follow the.

Speaker 3: 21:03

Go book some bands and sell some houses. Let's do it All right, take care, thank you. Thank you Once again, philip Tree, in for the Greg Real Estate Show this morning. Philip, again, always great to have you, the Greg Real Estate Show here on the Q every Monday morning just after 9 o'clock it's 930 and 62 degrees here at the little radio station farmhouse.

Speaker 5: 21:27

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 1300 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.

Speaker 4: 22:27

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, 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. 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.