George Real Estate Group Radio Broadcast

Real Estate as a Wealth-Building Tool

• George Real Estate Group

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Wealth-building through real estate takes center stage in this revealing episode as we explore the staggering 40-fold difference between homeowner and renter net worth. Drawing on fresh market data from Henderson County, we reveal why property ownership remains one of the most powerful financial decisions you can make, with the average homeowner boasting a net worth of $396,000 compared to just $10,000 for the typical renter.

The Western North Carolina market continues to demonstrate remarkable resilience despite economic headwinds. Our latest analysis shows demand outpacing supply, with 44 homes going under contract in the past week while only 38 new listings hit the market. Cash purchases remain strong, representing one-third of all transactions over the past 12 months. We break down what these numbers mean for both buyers and sellers in today's evolving marketplace.

Beyond primary residences, we delve into investment properties as wealth multipliers, explaining why investors value the tangibility, control, and potential for exponential growth that real estate provides. Our discussion extends to sophisticated wealth preservation strategies, including how 1031 exchanges and Delaware Statutory Trusts can help defer capital gains taxes while simplifying inheritance planning for your loved ones.

As we celebrate Father's Day, we take a fascinating historical detour to 1939, when new homes averaged just $3,800, gasoline cost a dime per gallon, and the Wizard of Oz premiered in theaters. This perspective reminds us how dramatically property values appreciate over generations, underscoring real estate's power as a legacy-building tool.

Whether you're a first-time homebuyer, seasoned investor, or thinking about your estate plan, this episode delivers actionable insights to help you make savvy real estate decisions. Ready to build your own wealth through property? Connect with us at 828-393-0134 or visit realestatebygregcom to start your journey toward financial freedom through real estate.

Speaker 1:

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. So much to be thankful for. We're so thankful to be here. We are. Wow, summer is here and the rains that we have, the summer afternoon showers, the cool mornings still, I was actually I had a client in from Houston and they were commenting on the cooler temperatures here compared to Texas. Of course, just this weekend they were here enjoying the area and getting familiar with it and again, we're just so thankful we're here every Monday morning sharing the positive news about the local real estate market community. If you're tuning in for the first time ever, the George Real Estate Group. We're located in Flat Rock. We serve all of Western North Carolina and the upstate South Carolina. We've had so much fun over the years. I mean this is actually my 20th year with my North Carolina broker's license serving the community through real estate. We have an incredible team in place and staff.

Speaker 1:

We love helping and advocating and facilitating all things real estate. It could be your personal home. It could be your personal home. It could be your investment property. It could be commercial property. It could be undeveloped land. It could be anything real estate. We'd love to have the conversation and even just the strategies from do you sell then buy, do you buy then sell? And then what are the implications? Tax strategies, whether it's your personal implications, tax strategies whether it's your personal home, or tax strategies if it's your investment property. In regards to real estate, we work with tax professionals, tax advisors. We work with our attorneys, whether it's with your estate or your trust or planning ahead. There's also the 1031 exchange world with your real estate and depreciation. I mean there's so many facets of real estate. We love helping our clients find solutions for their real estate and what that might look like, while giving context on what's happening in the market. The market continues to move and we will dive into that as well.

Speaker 1:

We're located in Flat Rock. I joke that it's a very dangerous place for an office. Between all those there's four amazing restaurants right there the Flat Rock Bakery, hubba Hubba, barbecue, campfire Grill, hubba Lou. All those amazing restaurants and then all the other great merchants of Flat Rock. You got the Wrinkled Egg, you got Dogwood, you have the portraits. You know all those. You know amazing local and independent. You know restaurants and businesses. The merchants of Flat Rock Also want to say what a successful ice cream social there in Flat Rock on Saturday and the merchants of there was the free ice cream.

Speaker 1:

There was a little bit of not to tell on any faux pas, but very early on they realized they didn't have spoons but the ice cream was there. But they quickly sent someone off to get the spoons and I don't think, but maybe the first couple of people, because they figured it out about 10 minutes before the official time. But they managed to get the spoons for the ice cream for the free ice cream social. You know they were grilling out hot dogs and had drinks and snacks and all the proceeds that were raised from those snacks are going to the local Flat Rock Elementary School and middle school. So again the funds were raised. It was a great time to see neighbors and so many people were out there on Saturday for the Village of Flat Rock Ice Cream Social and just great to see neighbors and great to support the community. Again, the ice cream social. Annually that happens.

Speaker 1:

So find us online, realestatebygregcom. You can also follow us and subscribe to our podcast. We've been podcasting the radio program for a number of years now, so we are just grateful to share about what's going on in the real estate market and in the community and connect with us. Again, we'd love to interview for the job. There's no pressure, there's no cost, there's no obligation. We're actually hiring more real estate agents. We're growing. We continue to help more clients and walk through.

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Whatever that might be, it could be a really positive reason why you're buying or selling. It could be a challenging reason. It could be in light of thinking ahead for the future and planning ahead, whether it's with your real estate portfolio, maybe you're thinking about your personal home. I mean, there's so many reasons why you might be buying or selling or having the conversation with us. You can call us directly at 828-393-0134, 828-393-0134.

Speaker 1:

We have just a quick snapshot on the market and we'll dive into the more of the market details. But I know everyone's always curious what's actually happening in the market and then want to have a conversation. We have Father's Day coming up and also I'm going to wish a happy birthday to my father, whose birthday is on Father's Day, and just grateful for him. But the market the last seven days in Henderson County, the last listings 64 price drops. We continue to see price drops. There's been 44 homes go under contract. Isn't that interesting? 44 homes under contract in the last seven days, 38 new listings. So in just the last seven days the homes going under contract have outpaced the new inventory levels. And then in the last seven days, 48 homes closed out. The average single family home price over the last 12 months is at $537,000 over the last 12 months. The average price during the previous 12 month rolling 12 12-month was $542. And you'll find this interesting. There's been 22 more homes sold this rolling 12 months than the previous 12 months. And this is specific to Henderson County, specific to single family homes.

Speaker 1:

We use that as a barometer. We certainly work in all the counties Buncombe County, transylvania County, Polk County, spartanburg County, greenville County. We're working in all those areas, but I know this radio station being located in Henderson County and then our office in Henderson County. We use that just as a litmus test just to give you a snapshot. Still that just as a litmus test, just to give you a snapshot. Still. One in three homes sold over the last 12 months were purchased with cash. We still see cash sales are very strong. The inventory levels right now at 566, only 566 active single family homes on the market and we're averaging some 126 homes a month selling over the last 12 months. So the market is steady. The last two years it's remained steady and continues to be steady.

Speaker 1:

The market is the market. Now, pricing your home is still critical. Pricing it where you know, in line with what's the data saying. I mean the market's softened in the sense that we see more price reductions. We're also, days on market are taking a little bit longer, but when the home's priced right, I mean we're still seeing multiple offers. We're still seeing homes go under contract quickly. And on the other side of the coin, if it's not priced in line with the market, the market will talk back and share hey, you might be getting showings, but if you're not getting offers, that's an indication that the market's not accepting your price, and so we can help you navigate through that. Whether it's your personal home, investment home, it could be a commercial property, it could be land, it could be maybe you own a portfolio of rental properties. Whatever it might be, we have solutions and we'd love to have the conversation. Call us directly at 828-393-0134, 828-393-0134.

Speaker 1:

You've heard it said the difference between a homeowner's net worth and a renter's net worth, but the numbers are staggering. The equity in your home impacts your net worth, and home ownership is one of the best ways to grow your wealth and it can really give your net worth a huge boost. Actually, homeowner's net worth is nearly 40 times greater than someone that's renting. The net worth of a homeowner is, on average, $396,000. The net worth of a renter is $10,000. And, of course, renting certainly has its place in time and for some people they have been stuck in the renting loop. But in some areas renting could certainly be less than owning, but over time it can actually cost you. This is a senior economist from realtorcom, joel Bonner, said this households working on their budget will find it much easier to continue to rent than to go through the expenses of home ownership. However, they need to consider the equity and the generational wealth they can build up by owning a home that they can't by renting it.

Speaker 1:

In the long run, buying a home may be a better investment, even if in the short run, costs seem prohibitive. Home ownership is a powerful way to grow your wealth, but, again, you should only buy a home when you're ready and able to do it. And if you want to build a plan to get there, certainly give us a call. We'd love to show you your options, show you your plans, different ways to get there. Look at your plans together. Again, it's one of the best ways to build wealth in our country and it's easy to see why. As you pay your mortgage down and as home values rise over time, you gain equity and that's what grows your net worth, and that's why a homeowner's net worth is nearly 40 times greater than a renter's. And so that's just part of the many benefits of homeownership and, again, in addition to the psychological benefits of it as well, home ownership is a wonderful path for your family and thinking ahead for your family.

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In addition to home ownership, then, the next level is getting into investment, owning investment properties, and I know the thing that my investors say they love about owning real estate is they can touch it, they can use it, they can rent it out, they can control it. They can use it, they can rent it out, they can control it. They're able to maintain it. There's so many benefits of rental real estate and, again, it can also expedite, or it can exponentially grow your family's wealth as well, owning real estate, and so we've helped people acquire real estate investments. We've also helped people go through. Okay, we're at a point we're ready to liquidate and sell. We're thinking about what it looks like for our estate and our family and our future and long-term legacy planning. Again, we can help you navigate through all that as well, and whatever it might be again, your personal home or an investment home or your real estate portfolio, whatever it might be give us a call. 828-393-0134, 828-393-0134.

Speaker 1:

Find us online at realestatebygregcom. Also, follow us on social media Instagram, facebook. We also podcast all of our radio shows. You can find that on your favorite podcast platform and we have a lot of ways to connect with us. And, like I said, stop by our office there in Flat Rock at 2720 Greenville Highway, in our office. Stop by there. We're on Rainbow Row. We'd love to connect and again, you can just call us. You can stop in. The amount of people that stop in and say hello is amazing. We're so grateful for that.

Speaker 1:

And we have a short break coming up and I'm going to share with you a few listings that we have. But after the break I want to talk about Father's Day, also going to wish my father a happy birthday Also. But the new listings that we just had go on the market 21 Stony Knob Drive in Hendersonville. What a great starter home $369,900. This is a one-story ranch and wonderful home Three bedrooms, two baths, built in 1979. The other interesting thing about this property again, such a quick and convenient location, near everything, great location, arts and crafts style home. It has an additional lot that's included as well. So again, you could choose to sell off the lot. You could build on the lot. There's a lot of options here. 21 Stony Knob Drive in Hendersonville for $369.99.

Speaker 1:

Just another sample of the different listings and inventory that we have. We have more new listings hitting the market. We just had photography done on a number of homes this weekend. We have new inventory. That's where, if you follow us on Facebook and Instagram. You can see our new inventory and see the homes that we have coming up for sale, homes that we have coming on the market. We did do a price adjustment on 1351 Chanteloup Drive, an incredible deal at 920. This home has over 4,500 square feet, sits on over two and a half acres, joins a 26-acre preserve, so again you have the privacy there. Great neighborhood in Chanteloup subdivision, but 1351 Chanteloup Drive, over 5,400 square feet, four bedrooms, four baths, stunning home, completely renovated, at the end of a cul-de-sac. Again, that's just another sample of the homes that we have for sale.

Speaker 1:

In an example, you're listening to the Georgia Real Estate Group live radio broadcast here in the queue every Monday morning. We love sharing information about what's going on in the market, love connecting with you and of course, we also get calls in as to suggestions for topics and then different guests that we have. We love supporting the nonprofit community. We love having different vendors. When I say vendors, we have a partnership with our attorneys and our lenders and our home inspectors and our septic guys, our pest control guys, our contractors, our surveyors or appraisers. We work in concert together ultimately to help our clients navigate through the home buying and selling process and we're doing this every single day. We're having conversations and we'd love to connect with you, but we have an entire team in place to help navigate through all the buying and selling process. So we're so thankful to be here with you. Stay tuned in. We have a short break coming up. You're listening to the George Real Estate Group live radio broadcast on the queue, so stay tuned in. We have more information to share right after this break. Good morning and welcome back. You're listening to the Georgia Real Estate Group live radio broadcast on the Q.

Speaker 1:

We love sharing with you about what's going on in the local market and community and we're just so thankful to serve the community through real estate. We love helping our clients. I was sharing with somebody the other day. It doesn't feel like work when you do what you love, and we love helping our clients navigate through real estate and it's advocating, it's facilitating, it's helping provide clarity in a plan, and so you know whether it's working with your attorneys, working with your lenders, working with the, you know your estate planning or working with your tax consultant. I mean advisor, I mean all of the players that are involved in thinking ahead and planning. Again, we have great resources and tools and we're doing this every single day. In my career I've had the privilege of helping over 1,500 families with their real estate throughout the years and at the George Real Estate Group team we have over 100 years of combined experience. By the way, we're growing. If you thought about a career in real estate, it's a great time to help, a great time to get involved and help navigate through with our clients Again, buying and selling real estate.

Speaker 1:

I mean life happens, therefore, real estate happens, and we're helping our clients navigate through all of that. And again, the market's the market. I mean so 126 single family homes a month selling in Henderson County. We've had 22 more homes sold this year excuse me, this 12-month period versus the previous 12-month period. So the average single-family home price has come down slightly. The median home price has gone up slightly, but again, the market seems to be holding it's steady. We are seeing a softening, we're seeing a lot of price reductions. But it's a great time If it's right for you, I mean there is a path forward. We can navigate through the buying and selling process. Do you sell first, then you buy? Do you buy first, then you sell? Whatever it might be, we'd love and we consider it a privilege to have these conversations with you as you navigate through the buying and selling process.

Speaker 1:

This coming Sunday is Father's Day, and not only is it Father's Day, it's also a special day for our families my father's birthday as well. So happy birthday to my father, howard George. Father's Day is actually celebrated the third Sunday in June this year, and actually the other fascinating thing is Father's Day celebration was the very first known Father's Day. You may or may not have known this. It was in 1910, organized by a Sonora smart dod who wanted to honor her single father who raised six children, and it actually didn't become a national holiday until 1972 when President Richard Nixon signed it into law.

Speaker 1:

Father's Day by the numbers. Economically, about $20 billion is spent each year on Father's Day in the US. Most popular gifts include clothing, special outings on meals or tools or home improvement items, outdoor gear. In the US there's more than 70 million fathers. Roughly this is interesting roughly one in four households or children are headed by single fathers or father figures. So again Father's Day and then my father. I will just Father's Day and my father's birthday on this day and I'll go ahead and apologize now. I'll just go ahead and tell you my father was actually born in 1939. Dad, forgive me, I'm putting it out there, but did you know in 1939, this is so fascinating to me my father's turning 86 this year, but this is so interesting In September, 1939 was when the Second World War began.

Speaker 1:

In September, when Germany invaded Poland, franklin D Roosevelt was the president of the United States in 1939. This is interesting. The Wizard of Oz and Gone with the Wind premiered in theaters, is interesting. The wizard of oz and gone with the wind premiered in theaters and new york's world fair opened with the theme the world of tomorrow in 1939. A new house in 1939 costs on average thirty eight hundred dollars. The average annual salary was 171,730. Gallon of gas was $0.10. A loaf of bread was $0.08. A dozen eggs $0.35. And a new car was $700. A movie ticket was $0.23. And then a first-class stamp was $0. Cents.

Speaker 1:

It's fun to go back and look at time and the cost of things. Radio, which is still very popular today, was also the main source of entertainment. Big band music and swing was dominant. Glenn Miller, benny Goodman and also Superman made his first appearance in Action Comics no 1, which was published the year before in 1938, but it actually gained huge popularity in 1939. Television was actually still experimental but was shown at the 1939 World's Fair. Also, nylon stockings were introduced to the public by DuPont. Um, also nylon stockings were introduced to the public by DuPont. And this is wild. The first air conditioned car was released by Packard.

Speaker 1:

It's fun to go back and look and again, uh again, happy birthday to my father. Uh, this Sunday not only father's day, but also my father's birthday. So, very thankful for my father. He made a decision in the early eighties to move our family here to Henderson County. I grew up here, I joke, I got here as quick as I could when I was six years old. But a number of just grateful things to be grateful for. And again I'm thankful.

Speaker 1:

My father moved our family here to Henderson County. He grew up here and we've had our real estate business here for a number of years and he was in developments and real estates in other areas of the country prior to relocating here. And, like so many people's stories, people come here, they have their experiences here for the first time and they say I want to live here. And that was true of my father. They got here like on a Sunday and then he was so determined he actually got here. Never been here before, got here on a Sunday and bought a house that Friday and then it took him a few years to get out of his business developments in the other areas of the country before he moved here and moved our family here. So we love it here. We're grateful here, grateful to be in real estate full circle. Again, this is my 20th year with my real estate license and love serving the community through real estate license and love serving the community through real estate. Well, we love being here every Monday morning share with you news about the real estate market.

Speaker 1:

If you're thinking of buying a home, selling a home, if you're thinking about your investments, if you're thinking about your estate planning, if you're thinking about the legacy you want to leave, we're helping so many clients think ahead and what that looks like and how do you want to plan ahead. There are advantages and there's ways you can take advantage of tax codes such as a 1031 exchange and then also Delaware Statutory Trust. There's different codes that are effective, that can help you plan ahead. You can actually this is talk about an amazing concept Imagine making more money and paying less taxes, and that's actually possible with a 1031 exchange and a DST, and we have solutions for that. Maybe you're tired of managing your real estate investments and properties and you want to look at other options. You want to think ahead for your family and the estate planning and the legacy you want to leave for your grandchildren or children. Again, so many options that we have and again, this is on top of what we're helping our clients navigate through with their personal homes buying and selling their personal homes but we also are helping our clients navigate through and thinking strategically about their real estate investments as well.

Speaker 1:

Well, thank you so much for tuning in this Monday morning. Just grateful to serve the community through real estate. Much for tuning in this Monday morning. Just grateful to serve the community through real estate. Give us a call at 828-393-0134, 828-393-0134. Find us online at realestatebygregcom. Stop in our office anytime there in Flat Rock. We'd love to have a cup of coffee with you and connect. But have a great day, have a great week, happy Father's Day and also happy birthday to my father. Take care Thinking about estate planning for your real estate.

Speaker 1:

Without a smart approach, the property you leave behind could become an unwelcome burden for your kids. Many children simply don't want to co-manage an inherited house or deal with the tenants. Fortunately, you can prevent that with the right plan. The George Real Estate Group specializes in tax-efficient strategies like 1031 exchanges and Delaware Statutory Trust to simplify inheritance and income planning. A 1031 exchange can defer your capital gain taxes now and help your kids avoid a big tax bill later. And a DST lets you continue earning rental income without landlord headache. Plus, it can be split among your children, making inheritance easier. Planning ahead is one of the kindest gifts you can give your family. Let us help you secure your legacy. Call the George Real Estate Group at 828-393-0134 today. You've worked hard to build your legacy. Now let us help you protect it for your loved ones.

Speaker 2:

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. 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.