George Real Estate Group Radio Broadcast

Mountain Living: Real Estate Trends and Retirement Insights

• George Real Estate Group

Share episode

Life doesn't wait for the perfect market. That's the message resonating through Western North Carolina's real estate landscape, where Henderson County has seen 1,515 single-family homes sold in the last year despite shifting national trends. While headlines might suggest a housing slowdown, our local market tells a different story.

The numbers speak for themselves. With approximately 126 homes selling monthly, a healthy five-month inventory supply, and prices holding steady around the mid-$530,000 range, we're witnessing a return to balance rather than a dramatic decline. What's driving this continued activity? Life itself. Marriages, births, job relocations, downsizing, and retirement plans continue regardless of interest rates or economic forecasts.

Beyond traditional home buying and selling, we're seeing fascinating shifts in how people approach real estate. Investment property owners are increasingly utilizing 1031 exchanges to transition from hands-on landlord responsibilities to institutional-grade investments that provide passive income without the management headaches. Multi-generational housing has surged, with three in ten buyers now planning to purchase homes that accommodate extended family—a practical response to both affordability challenges and a desire for stronger family connections.

Perhaps most intriguing is the connection between housing decisions and overall wellbeing. Recent research reveals that social integration significantly impacts longevity, with regular family visits linked to extended lifespans. As we approach Independence Day, we're reminded that home represents far more than shelter—it's the foundation for the relationships and connections that truly matter.

Whether you're curious about your home's current value, considering an investment property, or planning your estate's real estate strategy, the George Real Estate Group offers personalized consultation backed by over a century of combined experience. Reach out at 828-393-0134 or visit RealEstateByGreg.com to explore how we can help you navigate life's transitions through thoughtful real estate solutions.

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 georgerrealestategroupradiocom for more information. Good morning and welcome to the George Real Estate Group live radio broadcast here on WHKP every Thursday morning, bringing you positive news about your local real estate marketing community. We're so grateful to be here with you on the day before July 4th. July 4th is tomorrow and a lot to be thankful for and just celebrating Independence Day. You might maybe didn't realize this July 4th and Independence Day was. It wasn't actually on July 4th, it was actually July 2nd, 1776. But the Declaration of Independence was adopted on July 4th and the date on the document John Adams even said July 2nd would be the big holiday if you didn't know that, and we'll jump into some fun facts about the 4th of July, but 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 have incredible agents and we have incredible staff and team and we're here to serve your real estate needs, whether buying, selling, investing in real estate. Maybe you're thinking about tax strategies and estate planning. Maybe you think about your investment, real estate investments and whatever it might be, or even a career in real estate. We're having and hiring more agents in this market. There's an opportunity to help more people navigate through the buying and selling process. So if you're just curious what your home is worth, if you're curious about maybe you have a real estate portfolio of rental properties or commercial properties or land and maybe it's just land and you're paying taxes on it there might be a better way to utilize the resources you have with real estate and we can talk about again whether it's a personal home, investment home, whether it's land. If you've heard or thought about 1031 exchanges, maybe you're thinking ahead for your state. There's so many different conversations that we're having every single day and we'd be honored to have the conversation. Give us a call the George Real Estate Group at 828-393-0134,. 828-393-0134.

Speaker 1:

We've had the privilege of helping over 1,500 families throughout the years with buying and selling real estate. We have an incredible group. We have an incredible team. We're so enthusiastic about helping our clients navigate through the buying and selling process. You can find us online at realestatebygregcom. You can also stop by our office at 2720 Greenville Highway there in Flat Rock.

Speaker 1:

We're in Rainbow Row, which is a tip of the hat to Charleston. You know Flat Rock was known as Little Charleston and so many people from Charleston would escape the heat and come up. You know, escape the heat and come up and avoid. You know what I mean. This is before air conditioning. But for you know, for years I mean people from Charleston would come up and enjoy the cool mountain air, enjoy the higher elevations and come up. And again, it's not and it's the little Charleston of the mountains. And, uh, it was actually named in the early 19th century and it was the wealthy Charlestonians that you know that built their summer homes in to escape the sweltering low country. Um, so you know we're so grateful. We have an incredible group there. Call us directly 828-393-0134. Find us online and we also podcast all of our radio shows. You can find that on your favorite podcast platform.

Speaker 1:

Just a quick snapshot of what's going on in the real estate market In the last 12 months there's been 1,515 single-family homes sold in the last 12 months in Henderson County. I mean, it's 126 single-family homes a month selling. The inventory keeps going up. We have 621 active single-family homes in the market. We have almost a five-month supply. A six-month supply is considered balanced. Days on market is increasing. The market's softening, the prices are holding somewhat. They've been around that 530, mid-530 range 537, 538 in the last 12 months. Still, about a third of our homes sold in the last 12 months were purchased with cash and the market's still moving and we'll and we'll talk about that uh here more.

Speaker 1:

We'll dive into some of the numbers of what's what's going on here locally. We have some incredible listings, we have some incredible inventory uh, and we've had a number of homes go under contract since we were on the radio last. I mean the market uh keeps moving. Here's a quick seven-day snapshot in just Henderson County single-family homes 67 new listings Interestingly, 66 price drops, 37 homes went under contract and 45 homes closed and 45 homes closed in the last seven days. Again, that's the end of the month end of June closed in the last seven days Again, that's the end of the month end of June and we have seen, like I said, year to date there's been just slightly more homes sold year to date this year versus year to date last year.

Speaker 1:

The market's still holding healthy demand. It does seem to have plateaued around this 125, 126 single family homes a month selling in Henderson County and inventory levels are going up. Days. Market is increasing, um, but you know the, the news in and of course the headlines say you know home sales are down compared to last year and and specifically henderson county, that's, that's not true. We've had a slight increase. But you know people might be, you know across the country, that's, that's, that's true. Um, but the you know people might be, you know across the country, that's true. But the you know you might be wondering is it even a good time to sell? And I wanted to break that down as to what that even, you know how. You know, is it a good time to sell? The headlines are like the home sales are down. So, yes, the housing pace, the pace of the housing market has cooled down, you know from the wild breakneck speed we all saw during the pandemic years. But that's not a reason to panic. That's a sign we're finally getting back to a normal, healthier market. You know, normal doesn't mean nothing's happening, far from it, as I just shared with you the seven day trend in the last.

Speaker 1:

You know, henderson County homes are still selling every single day and buyers are still out there. You know, think about it. Life doesn't wait for the perfect market. People still get married, have babies, get new jobs, downsize, upsize, relocate. Life happens and homes change hands because of it, and this year is no different. There are people right now looking for a home, just like yours.

Speaker 1:

You know, here's a fun one for you. According to the latest from the National Association of Realtors, about 4 million homes are expected to sell this year, and that's existing homes alone, not counting new construction. If you break that down, that's over 11,000 homes sold every single day, or about 460 homes sold every single hour. You know, do the math. That's roughly eight homes selling every minute. So in the time it takes us to have this conversation, right now eight more families are buying a home and eight sellers are closing a chapter. So if you've been holding off thinking, no one's buying right now. Just know the buyers are still out there, but the approach is different than it was during the frenzy.

Speaker 1:

You're selling a home today takes more than just putting a sign in the yard and crossing your fingers. You need a smart price, great marketing and someone in your corner who knows how to connect your home to the right buyers. And that's where having a trusted local real estate agent makes all the difference. We help you price it right, stage it, get those professional photos, get the word out online and offline. We know how to negotiate to get you across the finish line. So the bottom line's this the market hasn't stopped, far from it. Life keeps moving, and so do home sales.

Speaker 1:

And if selling your home is part of your next chapter whether you're looking for more space, less space or a fresh start somewhere let's talk about how to make that happen for you. You know, every minute, about eight more homes sell, and yours could be next. And so, when you're ready to take the next step, give the Georgia Real Estate Group a call. We're here to help. You know we always. You know we are always available. If you're just curious what your home could sell for, uh, in your area, in your neighborhood, reach out. We're happy to run the numbers no pressure, no costs, no obligation. Uh, and again we'd love to connect. And the market is the market, the market is still moving. And and again we can have that conversation about what's right for you, your specific home, your specific neighborhood, the nuances of what and where you live, and how we can tie into that. And again we'd love to have the conversation, as I mentioned before, independence Day, 4th of July, tomorrow.

Speaker 1:

The Continental Congress actually voted for independence on July 2nd, but it was actually adopted on July 4th, which is what we celebrate. The fireworks that we you know fireworks did, you know are actually older than America. The first fireworks actually came to China over 2,000 years ago and the tradition was brought to American colonies to celebrate special events. So it was a natural fit for Independence Day. And also another fun fact about the 4th of July Americans eat about 150 million hot dogs on the 4th. That's enough to stretch from Washington DC to Los Angeles more than get this five times. Also, the Liberty Bell hasn't rung since 1846. Instead of ringing it, they tap it gently 13 times every Independence Day, one for each of the original colonies. And only two signers of the Declaration became presidents John Adams and Thomas Jefferson. They both died on the same day, july 4th 1826. The 50th anniversary of the Declaration Also, the 4th of July wasn't a federal holiday until 1870, almost a century after the Declaration, congress made Independence Day an official holiday for federal employees.

Speaker 1:

And then the biggest fireworks show in the US is the Macy's Show in New York City. It uses over 75,000 fireworks shells and can draw millions of spectators. I'm sure you have a lot of favorite 4th of July memories, whether it's the fireworks, the parades or the backyard barbecues. Also, of course, please be safe with the fireworks. Leave the big fireworks to the professionals. I didn't know this, but about 12,000 injuries happen every Fourth of July because of fireworks. But of course, here locally, if you can see the big red balloon, you can see the local fireworks here in Hendersonville. But again, it is just so much to be thankful for. It puts things into perspective and again, it's a wonderful time to celebrate life, liberty and, of course, wish you a safe and happy Fourth of July. Again, we're so grateful and just we're.

Speaker 1:

So Life, you know okay, we talk about life. Life happens all the time with real estate and it can be a really positive or challenging reason, but life is the driving force around real estate. It's not the interest rates, it's not the economy, it's not the market. We saw and I actually started my career in 2005. And then, with the the market um peaking out 2007, 2008, and then when it crashes in 2011,. I mean, we've experienced different real estate markets, but the thing that doesn't change is the life I mean. And so real estate is central. Real estate and life go together, and so these interest rate rates that we're at, the prices that we're at, people find a way and people are going to be buying and selling, regardless of the economy, regardless of the interest rates, regardless of the market. And so that's what.

Speaker 1:

When we focus on helping our clients, it's navigating through life and what that means and how that might look like. Maybe you are a client that has acquired rental properties and you're managing it and you're you know deciding what to do. Maybe you're over it, maybe you're done renting and maybe you're you're you're done managing the properties and, of course, what a uh, incredible accomplishment to get to the point of having rental properties and and investment properties. But thinking about what's next, and of course, no one wants to pay capital gain taxes. Well, there are solutions like 1031 exchanges into these another tax code, which is beneficial for our clients in a lot of cases where you can sell property and now, with a 1031 exchange, moving it into another investment property.

Speaker 1:

But the thing a lot of people don't want to deal with is I don't want to manage another property where there's institutional level investments that are real estate and they're real estate investments that we've been able to help our clients move into where they don't have to manage it. It's someone else, it's a professional real estate portfolio management company that's managing these real estate investments. So there are ways to avoid capital gains and in some cases you might find this you know, you might think too good to be true, but you can actually in some cases, you know, when you sell your property, make more money on these new real estate investments and pay less taxes. Well, how can you pay less taxes? Well, in a lot of cases, you're buying more real estate, which then allows you to depreciate the new investment, which then offsets the new income. So, in some cases, you can make more money and pay less taxes, and these are these concepts we've been working with with our financial advisors, our tax consultants and our estate attorneys If you're curious about your situation again outside of I mean, of course, we're helping our clients with their personal homes, the, you know, the buying and selling of their personal real estate. Uh, we can certainly help you with those and we are every single day having these conversations. In addition to that, we're helping our clients navigate through their real estate investments and then be thinking strategically about what that looks like and how they might want to navigate through, you know, navigate through, you know again, the tax strategies.

Speaker 1:

And again, if you got to a point where you're done with managing your properties and you need a break from those things and you want to focus on and enjoy retirement and I had, I do continue to have the privilege of meeting and hearing about people's stories and and their. So many of our clients are retired and I love hearing how they got to that point in in their life. Some people have retired earlier than others, some people you know. But the thing that retirement does for a lot of people, it causes, you know, a lot of reflection and a lot of looking back on their lives. And then what am I doing with my life now? But I think for a lot of people, retirement can catch people off guard and you go from this career that you've had, whatever it might be, into deciding well, what do I want my life to look like now?

Speaker 1:

And I was having this conversation just this week about, you know, being purposeful in your retirement and having, uh, you know, just cause you're retired doesn't mean you're not productive and it doesn't mean you don't have a purpose in it. And maybe it's your grandchildren, maybe it's um, uh, you know, giving back with your time, with volunteering, maybe it's a different uh career that you might be passionate about, but I, I something that came up this was so interesting to me is the power of relationships and and they actually were were saying, uh, you know when they, when they, um, what I was having this conversation, looking into what this looked like, um, and you know it's, looking into what this looked like, um, and you know it's, it's and it's. You know what they don't tell you about retirement. You know adjusting to the new routine. You know getting, finding it can take time to adjust to that and finding a new sense of purpose and structure. You know without the daily grind. And then, of course, you have your financial planning and even with savings, you might need to adjust your budget, but of course you have your financial planning and even with savings, you might need to adjust your budget, but of course you got the unexpected, unexpected expenses and that can arise. And of course, your health considerations, and as you age, health can become more of a focus impacting your, your activities in your lifestyle. And then, finally, your social connections maintaining a social life. It does require effort and again you might not have the same daily interactions as you had before.

Speaker 1:

So there is actually this is so interesting to me longevity and how it's connected to your social integration. This is so interesting. There was a large scale UK study, the University of Glasgow study. They were researching 458,000 participants ages 37 to 73. This is from 2006 to 2010. That found that people who never had family or friends visit and lived alone were at a 77 higher risk of death over 12 years, even after adjusting for health, socioeconomic status, et cetera. But simply having monthly visits from friends or families was linked to greater longevity. And so the importance, the importance of of social connections and it and it is connected to your longevity. And so there was a study that said just they, they ask how many people, how many new friends? So again, how many new friends you can make in a year absolutely impacts your lifespan and so making new friends typically reflect a larger active social network, which is statistically linked to better health and longer life.

Speaker 1:

And of course, it's just one of the multiple factors, uh, than just the sheer number of friends. But you know it is important to consider. You know, have you made a new friend? I know, and it takes courage and it takes getting outside of your comfort zone and you're like, where would I meet somebody? Maybe you meet somebody volunteering, maybe you meet somebody at, you know, at maybe some activity going on downtown Hendersonville. But there is a direct correlation to longevity in in making new friends.

Speaker 1:

And, of course, the older you get, you know, you, we do lose friends and family, um, you know, over time and uh, and that that's why you have to replace and it's not to to be insensitive, but you know we do lose friends and family. But that's why it's so important to, to important to find new friends and new family members to connect with, not new family members, new friends to connect with and it does impact your mental health, your physical health, your psychological health and I do see that here locally, the connectedness in the community that we live in, and even the routines. If you go to the same coffee shop and run into the same people that you see regularly and having the conversations and checking in and how are you doing and what's going on in life. Again, life is so much more than the jobs that we have or the careers, or the car you drive or the place you live, and it's, you know, it's where it's the people will remember how they make you, make someone feel, and again, the relationships, the connectedness, and it matters. And so, if you don't take for granted the friends that you have and don't be afraid to make new friends, it can actually increase your life by making new friends and new connections. And so I'd encourage you to get outside of your comfort zone and make a new friend, introduce yourself and say hello, and it's important.

Speaker 1:

Also also, we see in real estate the connection with multiple, multiple, you know, multi-generational home buying. There's a psychological benefit to that, but it's also there is some benefits to you know, you see, where home buyers share a home with their parents or adult children or extended family, there was actually an increase in the number of homebuyers citing it was in addition to the psychological benefits, the cost savings as a reason for purchasing a multi-generational home Again, whether you're supporting aging parents, but there's certainly an affordability aspect to that too. Pooling resources can actually help make home ownership possible and it's leveraging the resources together and maybe it might be challenging for people to find a home on their own and that's why a lot of families are teaming up, pulling the resources together. You know you're sharing the expenses of a mortgage, a utility bill, more you know and even more. But multi-generational living offers a way to overcome financial challenges and it might allow you to get a larger home than what you could have afforded on your own. This is interesting. Three in ten homebuyers say they're planning to purchase a multi-generational home.

Speaker 1:

Again, just another one of the reasons why people are buying and selling. Whether it's your personal home, maybe you're looking at a multi-generational home. There's so many things and reasons why you might consider a multi-generational home. I mean there's so many things and reasons why you might consider a multi-generational home, in addition to the benefits of the family connection and living, and multi-generational family living was actually very common for generations prior to. I mean the more independence you see people living today. But you know, as the cost of living has gone up, so has the increase of multi-generational family living.

Speaker 1:

We've covered a lot of topics today, but you can tell, I mean I'm passionate about connecting with people, about helping people in advising and consulting, and it could be your primary home, it could be your investment property, it could be, um, maybe you have commercial real estate or or land, or planning ahead with your estate or thinking ahead. Whatever it might be, we'd love to have a seat at the table and have a conversation. There's no pressure, there's no cost, there's no obligation. If you want to have a conversation, we can connect you with our tax advisors, with our estate attorneys, with our financial advisors. We have a team that we work together ultimately to help you with your real estate questions and, whether it's your, you know, a second home and we're so grateful Most of our businesses word of mouth. We've had the privilege in my career 20 years this year serving the community through real estate with my North Carolina broker's license and we've had the privilege of helping over 1500 families and from you know, land to homes, to developments. I mean we've had a lot of experience and we'd love to have the conversation At the team. We have over a hundred years combined experience. We're located in Flat Rock and you can find us online at realestatebygregcom and we'd love to have that conversation with you. Uh, call us directly 828-393-0134,. 828-393-0134.

Speaker 1:

This time of year, with all the summer camps going on and actually I'm so grateful my daughter's at one of the local girls' camps and she's so grateful to be there, which is wonderful. But the camp industry is booming. So many families are coming into town picking up their kids from camp or dropping their kids off at camp. Camp is life-changing for kids. It gets them off their technology and into the uh, into relationships and into situations where they can grow through. Uh, whether it's trying something new like, um, you know, archery or climbing tower or swimming or something like that, that gets kids out of their comfort zone and again, opportunity to to expand their skills and to meet new people. And again, a camp is so powerful for our children and so, again, grateful for my daughter to be able to go to camp. It's also I have three kids and so the opportunity to spend some one-on-one time with my kids. I was able.

Speaker 1:

I had the privilege of taking my middle son fishing recently and we got to go into. We did some saltwater fishing had some fun. We actually we weren't fishing for this, but sometimes you do catch stingrays and we caught I know it was over 20 pounds, but I'd venture to say closer to 30-pound stingray and that was an interesting experience landing a stingray and getting the hook out of it. But it's fun. My son he sleeps, drinks, dreams about fishing. I mean, I was grateful to have some time with my son going fishing and you know, I think fishing is a great and it was so interesting.

Speaker 1:

While I'm on the conversation, he's so kind, my 14-year-old but there was an older fellow that was so kind to my son and myself who knew a lot about fishing and we learned some new things and and that was a fun experience. And then there was an opportunity where my son ended up, you know, helping somebody younger than him, uh, teach him some things. Again, the fishing uh is a great. Some great life lessons with fishing patience, persistence. You don't know what you're going to get. Some days you get more than others. But again, I'm very grateful for that one-on-one time I was able to spend with my 14-year-old son fishing and we love it and hopefully we'll do some more here soon and fishing's great year-round, but the opportunity to do some saltwater fishing was a lot of fun and, again, just a lot to be thankful for.

Speaker 1:

So the 4th of July tomorrow, I hope you have a wonderful 4th of July, a lot to be grateful for and thankful for. And, of course, if we can help you with any of your real estate needs, give us a call. 828-393-0134, 828-393-0134. We will be here tomorrow morning at 845 for our Hometown Hero series. Hometown Hero series and this week is East Henderson High School's rising senior, raya McDonald, who's been named the Apple Ambassador for the 2025 North Carolina Apple Festival. Raya, along with Apple Festival President Josh English, is going to be here tomorrow morning at 845, and we're going to hear more about their story. And again, it's a competition actually where young people can apply for the Apple Ambassador. And Raya McDonald is going to be here tomorrow morning as our Georgia Real Estate Group Hometown Hero and Apple Festival Ambassador tomorrow morning at 845. And, of course, we love the interviews with amazing men and women that are making a difference in our community, our unsung heroes, and if you know somebody you'd like to nominate, certainly reach out to WHKP for our Hometown Hero series. We love doing that every Friday morning at 845. But we're so grateful to be here with you. Thank you so much for tuning in. I hope you have a wonderful 4th of July tomorrow. We will be here on the radio live 845 tomorrow morning for our Hometown Hero series and, of course, check out our website, real Estate by Greg. You can see all of our new listings. We have incredible listings for sale. But have a wonderful day, have a wonderful rest of your week and we'll see you tomorrow morning 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:

Thank you for listening to the George Real Estate Group podcast. Tune in next time for more industry news updates and real estate tips. You can reach Greg, the George Real Estate Group, at 828-393-0134 or at realestatebygregcom.