George Real Estate Group Radio Broadcast

Navigating Real Estate Beyond Interest Rates: Why Life Changes Drive Today's Market

• George Real Estate Group

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Life happens, therefore real estate happens. This fundamental truth drives today's housing market in Western North Carolina, even as higher interest rates dominate headlines.

The George Real Estate Group delves into why homeowners are increasingly willing to give up their coveted 3% mortgages. According to recent data, 79% of sellers are moving out of necessity, with most motivations being non-financial. Whether it's seeking a different community (46%), needing more space (34%), or downsizing (25%), these life transitions aren't waiting for interest rates to drop.

Henderson County's market demonstrates this resilience with 44 new listings, 39 contracts, and 27 closings in just the past week. The average single-family home price hovers around $530,000, with approximately a four-and-a-half-month supply of inventory—signs of a stabilizing but still active market.

For homeowners weighing their options, we explore significant tax advantages often overlooked in the rate discussion. Primary residence owners can exempt up to $250,000 of profit ($500,000 for married couples) from capital gains taxes when selling, a benefit partially explaining why 30% of local purchases remain cash transactions despite higher rates.

We also share the remarkable story of Fred Smith, the FedEx founder who recently passed away at 80. When his fledgling company was down to its last $5,000, Smith famously took that money to Las Vegas, turned it into $27,000 at the blackjack table, and kept his business afloat just long enough to revolutionize global shipping. His legacy reminds us that sometimes the boldest decisions make all the difference.

Beyond traditional buying and selling, we discuss strategic approaches to real estate wealth preservation through 1031 exchanges and Delaware Statutory Trusts (DSTs). These vehicles allow property owners to defer taxes while transitioning from active management to passive income streams—especially valuable for legacy planning.

Your home should support the life you're living now, not the one you lived years ago. If you've been considering a move for months or even years, ask yourself how much longer you're willing to put your life on hold waiting for perfect market conditions. The answer might surprise you.

Contact us at 828-393-0134 or visit realestatebygregcom to discuss your unique situation without pressure or obligation. After all, it's not about finding the right market—it's about finding what's right for you.

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 Georgia Real Estate Group live radio broadcast here on the queue every Monday morning, sharing with you positive news about your local real estate market community. We're so grateful to be here with you this Monday morning. Wow, time is flying by. We are now officially into summer and I hope you are, and I hope you are continuing to have a wonderful, wonderful summer so far Again. The heat is here, just summer, it's the best and kids are enjoying being out of school my kids are. I know they're probably actually still sleeping in this morning, but we're so thankful to be here.

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If you're tuning in, for the first time ever, the George Rillis Group is located in Flat Rock. We serve all of western North Carolina and we serve the upstate South Carolina as well. We do residential real estate. We do land. We do work with new construction. We also work with commercial and multifamily and residential. We help. We work with your investments we work with if you're thinking about a 1031 exchange or if you're selling, you're going to downsize or upsize. We are so grateful to serve the community through real estate. We have an incredible team, incredible group of agents and incredible staff and we are so passionate about helping our clients navigate through all the nuances of real estate. It could be buying or selling or investing in real estate, and we also love working with agents in their careers in real estate. It could be buying or selling or investing in real estate, and we also love working with agents in their careers in real estate. We've just recently hired a number of new agents and we're continuing to grow. If you know somebody with their real estate license or looking for maybe something different or a change or maybe just a fresh start, we have a wonderful model in place with the George Real Estate Group as a team model. We are so passionate and enthusiastic about helping our clients navigate through real estate, navigate through life. Life happens. Therefore, real estate happens, the interest rates are the interest rates, the market's the market and the real estate happens and it's more about what's right for you rather than the right market. You know a lot of sellers are choosing to move, even with today's rates. You know it's hard to let go of that 3% mortgage rate, and so that's something we'll chat about this morning. But the main reason there's no question about it that the main reason so many homeowners have delayed their move in recent years. But there's a lot to consider. It's not just the rate, that's everything, and we'll dive into that conversation. Like I said, if you're tuning in, for the first time ever, the Georgia Real Estate Group is located in Flat Rock, right next to the Flat Rock Bakery. Our friends at Hubaloo Campfire Grill, hubba Hubba Barbecue, the Wrinkled Egg. Also, I heard Channel 7 did a spot Friday and there was so many. We had somebody walk into our door Friday because they saw the spot on the local TV station, the news station. They did a local spot there in Flat Rock and I hadn't seen the spot yet, but they came through the area. We're highlighting the local businesses and restaurants and all the things going on in our area.

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The other thing that's happening this time of year is all the summer camps and you have opening day, closing day. There's over 50 summer camps in the three counties. Here the economic impact, not to mention the life impact, I mean the camps make a difference in kids' lives and can truly. It takes kids out of their environment. It gets them off their screens, their devices. They unplug, they're out in nature, they're with their newly made friends, their camp counselors and all the activities pushing kids to get outside their comfort zone, whether it's maybe doing that climbing wall or swimming in the lake or archery, I mean classic summer camp and again, grateful for our summer camps here locally. The impact that it has on our kids Also and again, just a side note, the economic impact is massive.

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But again, find us online realestatebygregcom. Stop by our office there in Flat Rock, 2720 Greenville Highway. There in Rainbow Row. You can also call us directly at 828-393-0134, 828-393-0134. We'd love to connect and have the conversation with you there.

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Just to give a quick snapshot of what's happening in literally the last seven days in Henderson County. Just as a snapshot, to give you a snapshot of what's happened in the last seven days in Henderson County, 44 new listings, 68 price adjustments. There's been 39 homes go under contract and 27 homes closed. Now the closed homes are on the you know this is. We're not a lot of closings, you know happen throughout the month but it does seem to all. The majority of them seem to happen at the end of the month. So we'll see an uptick there. But we are averaging over the last 12 months in Henderson County 126 single family homes a month selling. Year to date this year versus year to date last year, we have seen a slight increase in the number of homes sold.

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The other thing to note is the days on market is getting longer. It is taking a little bit longer for homes to sell. I do remember I mean this is my 20th year with my broker's license in North Carolina I do remember when four, five, six months were normal in the timeline. You might think that's shocking to believe, but 120, 150 days on market. There were times where that was normal and what is normal, right, I mean. But again, it's putting into context what's happening in the market. It could be the ebb and flow, the ups and downs. There's cycles of the market and in some cases in the current cycle that we're in you know the inventory that we have we have about a four and a half month supply. It would take four and a half months to exhaust our current inventory at the current rate of sales and again, not to get into the weeds too much. But we continue to see healthy demand. About 30% of our sales in Henderson County are purchased with cash and that's even with these interest rates.

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A lot of people have their home paid off and so when they sell their home one of the things that they take advantage of is the capital gains rules with your primary home. If you've lived in your home two out of a five-year period, the first $250,000 of profit it's what you paid for it, plus your expenses, plus the cost of selling. But the first $250,000 of profit is tax-free. If you're married it's $500,000. And you're actually allowed. You can have two other people on the deed that have lived in the home two out of a five-year period. You're actually able to have a million dollars. Again, that's four people on the deed that have lived in the home two out of a five-year period. That wouldn't have to pay taxes on that. Another interesting thing if you have had to walk through the loss of a spouse, you actually have two years after their passing to also utilize the $250,000 tax break that they would have received within two years if you sell the home within two years after their death as well.

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Again, this can be life-changing in regards to setting yourself up and looking to your future and taking care of yourself. In regards to how real estate can make the difference in your life in taking care of yourself financially. Also, the legacy you might leave and want to leave or have been working so hard on for your kids and your grandkids. We work strategically with estate planners and with trusts and with our attorneys and financial advisors. We're working strategically as we help our clients think through what that looks like, as we help our clients think through what that looks like and in regards to real estate, we work with DST Delaware Statutory Trust Programs through 1031 Exchanges. There are very just, amazing and simple ways to protect your legacy in regards to your real estate, in regards to your thinking ahead with the legacy you want to leave and thinking about your heirs and what that looks like, and there's so many nuances with that, but we have the team that we work with, from our attorneys to our financial advisors, our tax advisors, all of these pieces coming to play and we work hand in hand with them.

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As we navigate with our clients what it looks like to plan ahead and think about your real estate holdings. And we'd love to have the conversation and love to advocate, love to help facilitate what that looks like. And we're having these conversations every single day. It's not just the personal residences, the buying and selling of your personal residence. Maybe you're upsizing or downsizing, finding the right home for you and your loved ones. Maybe it's looking ahead even bigger picture with your. Maybe you have real estate investments and maybe you have rental properties. Maybe you're done managing it and taking care of your rental properties. You want to have something where you can park your money, put it into an investment that's still real estate, but you're going to get that mailbox money and again, these are things to consider. We're having conversations at a high level with our clients about all of the things.

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It's not just the one transaction, the buying or selling. It's the bigger picture, even when we work with our first clients that are buying their first home, first-time homebuyers, and what that path to long-term financial freedom looks like, and everybody that's owned a home remembers that first home that they purchased and the stories you hear of some of our clients that have owned 10 plus homes over their lifetime and they fondly remember again, a lot of times it's stretching to get into that home that they were looking to get into and make that first step into home ownership. It's a powerful thing and again it can change life for you and your financial picture. Again, owning versus renting. Again, there's so many reasons why people are buying or selling.

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But if you're curious about your situation, the nuances of your personal home or investment home, or your situation, your unique situation, let us sit down. There's no pressure, there's no cost, there's no obligation. You can call us directly at 828-393-0134, 828-393-0134. You can find us online at realestatebygregcom. We are so passionate about helping our clients navigate through the buying and selling process. You can find us online, realestatebygregcom.

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We also podcast all of our radio shows. You can find it on your favorite podcast platform. We'd love to connect with you. We're here every Monday morning sharing with you news about the market. A lot of times we'll have guests, sometimes we'll just have a conversation about what's going on in the market. Our average single-family home price over the last 12 months in the 530s. Like I said, some 500 homes available. We have a four-and-a-half-month supply and that's again.

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People have this. You know you got to be careful with the news, of course, with everything going on. But in regards to real estate, you know there's perception the sky is falling and that's not true. The market's moving. Is it softening? Yes, is it still moving? Yes, is there. You know, your home, your situation, whatever it might be, we'd love to have the conversation about it. Find us online at realestatebygregcom. Call us at 828-393-0134.

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When we come back from the break, I do want to dive into that conversation about why more sellers are choosing to move, even with today's rates. Again, you think, why are people getting rid of that 3% interest rate? But it's not the only reason. Some things to consider. We'll talk about that. And also a fun story I'll share about a gentleman that actually had a huge impact on our world. That had a huge impact on our world and I was looking into the story of Fred Smith, the founder of FedEx. He actually passed away this week at the age of 80. And there's some things you may or may not know about Fred Smith and FedEx, and I have some fun stories to share about what he did in starting and running FedEx and just some interesting life lessons. I think we can learn from Fred Smith.

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But you're listening to the George Real Estate Group live radio broadcast here in the queue. We have a short break coming up, so stay tuned in. We'll be right back. Good morning and welcome back to the Georgia Real Estate Group live radio broadcast here in the queue. We love sharing news about what's going on in the real estate market and life and just grateful to be here with you. We're here every Monday morning. We also podcast all of our radio shows. You can find it on your favorite podcast platform, whether it's Apple, amazon, alexa, spotify. Find the Georgia Real Estate Group radio broadcast there.

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We're also on social media. We post all about our open houses and new listings and successes and clients that we've helped throughout the week. I mean follow us on social media. We'd love to connect with you there. We did have two open houses this past weekend Very successful, a lot of activity. We have more open houses coming up this weekend and again, find it on our Facebook. We have an open house at 1351 Chanteloup this coming Sunday. You can find that on our Facebook page. But we'd love to connect and love to have you come out, but if you go to our website realestatebygregcom, you can see all of our listings. We have incredible inventory for sale and beautiful homes all throughout Western North Carolina, from Mars Hill to Bat Cave to Hendersonville, to Tryon, flat Rock, rutherfordton. We would love to share with you about what we have and, again, if you're thinking of buying, selling or investing or whatever it might be, or even a career in real estate, give us a call. 828-393-0134,. 828-393-0134. We'd love to connect with you and have the conversation. You know this.

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Recently I saw the news. You know people. You may know some people leave behind more of a legacy than they leave behind a story so bold it inspires generations. Fred Smith, the founder of FedEx, passed away this week at the age of 80. He was a Marine Corps veteran, a Yale graduate and the man who changed the way the world moves. Now you might recognize FedEx logo on trucks and planes every day, but what you may not know is where it all started. With a paper he wrote in college, fred had this radical idea create a central hub where all packages would fly in and out of allowing for overnight delivery, a hub and spokes model like a bicycle wheel. His professor wasn't impressed and gave it an average grade. But Fred, he didn't quit.

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In 1973, with a handful of planes and a lot of guts, he launched Federal Express out of Memphis, tennessee, and for a moment it looked like the world wasn't ready. Just weeks in, fedex was in serious trouble. The company was nearly out of cash. They had $5,000 left in the bank, barely enough to keep the planes in the air for another week. Most people would have packed it up and packed it in. But Fred? Well, fred flew to Las Vegas. Yes, that Vegas. He sat down at a blackjack table and, with the future of his company riding on every card, he played everything. When he walked away from the table, he turned that last $5,000 into $27,000, enough to keep FedEx going just a little longer. And that little longer was all it took. He bought time, raised more funding and the company took off, literally and figuratively. Today FedEx operates in more than 220 countries and territories, moving millions of packages every day.

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That one gamble didn't just save a business. It actually sparked a revolution in how we connect across the globe. But Fred wasn't just a business pioneer. He was a quiet giver, a man who donated generously to the Marine Corps Scholarship Foundation, the University of Memphis and his old school, yale. He didn't talk about it much, but he gave back in big ways. You know, fred Smith reminds us that sometimes life comes down to one moment, one bold decision, where you bet on your vision, your grit, your belief that what you're building matters. Now look, I'm not saying you should go to Vegas and put your last dollar on the blackjack hand, but I am saying maybe you should believe in your idea, like Fred did. Maybe you should bet on yourself. So rest in peace, fred Smith. Thank you for showing us what belief, bravery and a little bit of blackjack can do. Again, just what a story I thought I'd share with you about Fred Smith. And so when we see I mean you think about it the grit, the story, all of that that he endured, certainly failures that they've experienced, but again they stuck through it. Again, what a story I came across that I was like I got to share the story. Back to what I was sharing at the beginning of the segment.

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Why are more sellers choosing to move, even with today's rates? So there's something to consider. While your low rate might be ideal, it doesn't make up being too cramped having a staircase your knees can't handle anymore, or being a thousand miles from your grandchildren or family. And these are some real life needs that are pushing more sellers off the fence, despite today's rates. And so data shows that the share of homeowners with a mortgage rate below 3% is dropping as more people move. As a result, the share of homeowners taking on a mortgage rate above 6% is rising too. The biggest reason people are moving right now why are homeowners willing to take on a higher rate? A survey from realtorcom shed some light on that. It showed 79% of homeowners considered selling today are doing it out of necessity. And then the same survey shows that most of the reasons necessary reasons people are moving are non-financial in nature.

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Most motivators for people moving today are non-financial. Number one moving today are non-financial. Number one 45, 46 percent said looking for a different community. 36 actually said to make a profit. I mean the amount of equity that homeowners have in their home. Again, we've had significant appreciation. Number three 34 percent said they need more space. 25 percent said they needed to downsize. 21% said potential buyers have shown a lot of interest for my home. 21% said I need to move for my family. 18% said it was a life event. And then 15% said I need to move for work.

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So what are the reasons? And maybe some of these reasons resonate for you. It could be you need more space. Maybe it's a new baby, children needing their own rooms, or maybe even having your parents move in so it's easier to take care of them, or you've outgrown what you currently have. You can outgrow your space and it can happen so quickly. Maybe you need less space. Kids are out of the house now. You're craving a life that's a little simpler. Maybe you want to travel more.

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Downsizing can be a major relief Fewer rooms to clean, less to maintain and lower utility bills too. Another reason you want to be closer to family. It could be maybe you want to help with the grandchildren or just be around the grandchildren. Maybe you need to care for aging parents. Again, sometimes the pool of being near a loved one outweighs the math. And then a relationship in your life has changed. Life happens divorce, separation, it could be moving in together after a marriage or a new partnership. All these can create a need for a fresh start and a new place to call home. And then, finally, maybe it's your job If you finally landed your dream job or your partner's company is relocating, you might need to move.

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Yes, yes, the experts expect mortgage rates to ease, but slowly. You know they're only expecting a modest decline this year, not the 3%. We're not going to see that anytime soon. So while waiting for a big drop a big drop in rates it might sound strategic. It could also mean more time feeling stuck in a place that no longer fits, and for a lot of people, the waiting game has already gone long enough. According to Realtorcom, nearly two in three potential sellers have been thinking about moving for over a year, and if you're one of them, maybe it's time to ask how much longer are you willing to press pause on your life?

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Maybe your current house fits your life five years ago, but for now, your house you bought in 2022, it just can't deliver what you need in 2025. And so that's not just okay. It's normal. Mortgage rates are just part of the equation, for sure, but it's not everything. What kind of home do you need to support the life you're living in? And we'd love to have the conversation. There's no pressure, there's no cost, there's no obligation to talk about what life looks like currently for you and where you want to go and what your current home versus what your future home can serve and how it can serve you.

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We meet every day with buyers and sellers. I mean, do you sell before you buy? Do you buy before you sell? And we can talk about what a strategic plan we can put in place. And yes, homes are still selling, the market is still moving. It is right when it's right for you. It's not about the interest rates, it's not about the economy. You know the housing market's the housing market. Life happens. Therefore, real estate happens, and we'd love to have that conversation. Life's too short not to make a move and do what's right for you and your family.

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We're meeting every single day with clients and again, and we have a wonderful team, from our lenders to our appraisers, our home inspectors, our entire team, our staff, our agents. We work together to help our clients have the best experience possible, and so we'd love to have the conversation. Maybe you want to talk strategically about your investment properties. Love to have the conversation. Maybe you want to talk strategically about your investment properties. Maybe you're thinking ahead with your estate and what you're planning ahead for your heirs and what that might look like, and there's strategic ways to plan and tax strategies to employ, and we have tax advisors, we have estate attorneys. We work with a team financial advisors. We work with a team in regards to real estate to help set you up for success and what you want your future to look like, what you want your legacy to look like, and we'd love to have the conversation. You can find us online at realestatebygregcom. You can call us directly at 828-393-0134.

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You can stop by our office there in Flat Rock, 2720 Greenville Highway. They're on Rainbow Row. Stop by and say hello. There's wonderful offerings between the bakery and the barbecue and the breakfast and I mean it's. I joke, it's a dangerous place for an office with all those restaurants there. So stop by. Stop by the Wrinkled Egg and they have great things to shop and to look at. They even have I heard some new bunnies there that they have by the Wrinkled Egg and they have great things to shop and to look at. They even have I heard some new bunnies there that they have in the Wrinkled Egg. So you can go see. I had some friends recently say they went and saw the new bunnies that they have there in the Wrinkled Egg. So stop by the Wrinkled Egg and see the bunnies there.

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So so grateful to be here with you. Remember the story of Fred Smith. What a story he had for sure. And again, also just in life, is just so much to be grateful for. And again, real estate happens around life and we're honored to walk alongside with our clients through. Whether it's your personal home, your investment property, it could be land that you have. Whatever it is, give us a call. We'd love to have the conversation. We're here every Monday morning sharing with you positive news about the local real estate market and life. Thank you so much for tuning in this Monday morning. We hope you have a wonderful rest of your day, wonderful rest of your week and we'll see you next Monday.

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Thinking about estate planning for your real estate Without a smart approach, the property you leave behind could become an unwelcome planning for your real estate. 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. Tune in live each week on Monday mornings at 9.05 on WTZQ FM 95.3 and 1600 AM or stream online at WTZQcom.