George Real Estate Group Radio Broadcast

Mountain Living: Navigating Today's Real Estate Market

• George Real Estate Group

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Have you ever noticed that despite economic headlines, life moves forward and so does real estate? In this enlightening episode, we dive deep into Western North Carolina's surprisingly resilient housing market, revealing why properties continue to change hands even as market dynamics shift.

The numbers tell a compelling story: Henderson County averages 126 single-family home sales monthly, with average prices holding strong at $538,000. Neighboring Buncombe County sits in the mid-$600,000s, while Transylvania County commands prices in the $700,000s. Most surprisingly, 30% of Henderson County transactions are all-cash purchases. This isn't just data—it's evidence of our region's enduring appeal and the fundamental truth that life circumstances, not just interest rates, drive real estate decisions.

We explore the philosophical side of navigating changing markets through the wisdom of Marcus Aurelius: "The impediment to action advances action. What stands in the way becomes the way." This ancient perspective offers remarkable insight for today's buyers and sellers facing obstacles. Rather than seeing challenges as roadblocks, we examine how they create new opportunities and pathways forward.

Beyond market analysis, we celebrate what makes Western North Carolina special—from the 29th annual "Chalk it Up" sidewalk art festival in downtown Hendersonville to the $300 million economic impact of our local summer camp industry. These community touchpoints underscore why people continue to be drawn to our mountain paradise regardless of economic cycles.

For those considering their next move, we unpack the expanding mortgage accessibility landscape, including VA and USDA loans offering 100% financing options for qualified buyers. We also address sophisticated wealth preservation strategies like 1031 exchanges and Delaware Statutory Trusts that help property owners navigate inheritance and tax concerns.

Ready to transform real estate obstacles into opportunities? Connect with our experienced team at 828-393-0134 or visit realestatebygregcom to discover how we've helped over 1,500 families navigate Western North Carolina real estate over the past two decades.

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, bringing you positive news about your local real estate market and community. Good morning and welcome to the George Real Estate Group live radio broadcast here on the Q Every Monday morning, bringing you positive news about your local real estate market and community, and so grateful to be here with you on this Monday morning, if you're tuning in for the first time ever. The George Real Estate Group is located in Flat Rock, right next to the Flat Rock Bakery. Hubba Hubba BBQ, campfire Grill, the Wrinkled Egg, hubba Lou, the Breakfast Spot all those great local and independent restaurants and businesses the George Real Estate Group's local and independent as well. I actually had a friend that was there on the well, I think it was on the 4th of July at the barbecue place Hubba Lou or, excuse me, hubba Hubba and they just were commenting. They were like I can't believe your office is here. They said I'd have a hard time being around all these restaurants all the time. And we certainly are grateful for our neighbors there and the amount of people that are coming in and visiting the area and checking out the area and then enjoying those great spots. I mean, we're located there on Rainbow Row. We're in the blue building overlooking the barbecue restaurant. It's a great place and I joke, it's a dangerous place for an office. But again, if you're in the area, stop by. If you've not made the trip over to Flat Rock, stop by and say hello at our office. But also enjoy some amazing offerings and food, whether it's the breakfast or the bakery items or the barbecue, and then Campfire Grill has great dinner options as well. All those great restaurants and businesses we're grateful to be part of. We serve all of Western North Carolina and upstate South Carolina. We have an incredible group of agents, we have incredible staff, and if you're thinking of buying, selling or investing, or even selling your investment properties or considering what to do with your real estate, rental properties or portfolio, we'd love to have the conversation. There's no pressure, there's no cost, there's no obligation. Give us a call 828-393-0134, 828-393-0134. Find us online at realestatebygregcom. Also, follow us on social media. We post all of our open houses and new listings and celebrate our successes and our clients' successes there, on Facebook and Instagram, and we podcast our radio show. You can follow us on your favorite podcast platform. We will jump into what's going on in the market. We will jump into what's going on in the market.

Speaker 1:

Before we do that, a friend of mine, dear friend of mine at Narnia Studios, barbara Hughes, has their 29th annual Chalk it Up. Which Chalk it Up began with their three children drawing in front of their mother's store downtown. It's actually blossomed into one of the most beloved and endearing events that our town has to offer. It's a unique way to experience beautiful downtown Hendersonville. So every summer and you can find this on their website, narniastudioscom every summer, 150 artists of all ages draw for prizes and fun in this great contest designed to promote Hendersonville as a city with a heart for art, chalk it Up. This coming weekend, the 12th. The 12th is the Chalk it Up event and you can, and it's a sidewalk chalk art contest. It's judged. They have a number of categories. They have the you know the age, different, different age categories and then they have a professional category. Um, and again, it's a first come, first serve basis. Uh, and they do remind no dogs. Uh, during the event, um, for the chalk it up annual, 29th annual chalk it up. Isn't that amazing? Again, wonderful. I mean, downtown Hendersonville has so much to offer and this is just one of the amazing things going on there. And again, the commitment and the number of small businesses there that make downtown what it is. You know, again, this event, the Chalk it Up, and then also upcoming is the Apple Festival and we'll be having some conversations and interviews regarding the Apple Festival coming up. And we'll be having some conversations and interviews regarding the Apple Festival coming up.

Speaker 1:

So many people come to our area because of the quality of life, the outdoor living, the beautiful downtown, the four distinct seasons. I mean people in this area I say this all the time, I'm a little biased and I love where we live, I love traveling and I love coming home and I love where we live. I love traveling and I love coming home and I love where we live and I love this is where I raise my family, my children. My children are growing up here, the incredible school system. But so many people come here for different reasons.

Speaker 1:

Prior to having my real estate broker's license this is my 20th year with my North Carolina broker's license I was involved in the camp industry and the camp industry here is massive. I mean, there's over 50 camps here in the three-county area. There was an economic report of the camps I think the economic report might be 20 years old now or 15 plus years and it was some $300 million annually. The economic impact but the impact of camps, it's certainly not the, it's the economics one piece, but the impact that camp has on families and children and then people that go to camp and then they end up coming here to the area to live, you know, because of the incredible experience they had at camp. And with that again I wanted to just say my condolences to all those that face just the tragedy and loss there in Kerrville, texas.

Speaker 1:

Actually, prior to my real estate career, I was working with the summer camps and I had a chance to visit and call upon. I was working with summer camps. We we had a technology group that I was part of where we were. This is before. This is like the dawn of of high speed internet and the internet and digital photography and camp and camps were embracing technology, which it's camps now again being such a place where kids can go unplugged. But even before that, camps were very much a technology-free and they still are an area for campers. But it's interesting, we were helping camps with their technology at the beginning this is before Facebook and social media and at the beginning of digital photography, where I was involved in this technology group that was helping camps navigate through technology and offering services, and so I had the opportunity to work here locally but we worked in service camps all over the United States and this is in the early 2000s and I had an opportunity to go visit a number of the camps in that Kerrville area and I know my path had crossed Camp Mystic and Heart of the Hills and had a chance to visit those camps in the early 2000s and just want to send our thoughts and prayers to the camp community.

Speaker 1:

That area there is, I think, one of the only other areas like Western North Carolina that has a high concentration of camps in an area there. But just again our thoughts and prayers to the families and everyone there that lost so much over the weekend Just tragic and our condolences for those that faced so much with the flooding of the Guadalupe River there in Texas. It's a lot to process and to comprehend and again are thankful for those that are helping with the recovery efforts and navigating through that. But just an incredible story, heartbreaking story and just wanted to acknowledge that. But the camping community, such a powerful community making a difference in kids' lives and changing kids' lives and helping pour into kids and making a difference. Our camp community here is so strong and grateful that my daughter is experiencing camp as well. But people that have been going to camp here and continue to go, and there are generations now that keep coming back to camp. Camp makes a difference and so we're grateful for our camp community. But I want to offer our thoughts and prayers to those facing what they're facing. After this weekend down in Texas.

Speaker 1:

You might wonder what's going on in the real estate industry and the real estate market. We continue to see a steady demand, the demand here, locally. I mean we're averaging some 126 single-family homes a month selling in Henderson County. That doesn't include condos and land and townhomes or commercial. The market is moving. Is it what it was a few years ago? No, but it's still a healthy pace. The market's still healthy and we have some 636 active single-family homes on the market in Henderson County. We're averaging 126 a month selling and we've had a handful more homes sell this year than last year and days on market's increasing. But the market is still moving. There is a price that will cause a home to sell. We are still at a high price. The average single-family home price in Henderson County over the last 12 months is at $538. In Buncombe County that number is in the mid-600s. In Transylvania County the average price over the last 12 months is in the 700s. So the market is still moving and there's a lot of news out there that again the sky's falling, that no one's buying a home and that's just not true. According to the National Association of Realtors, they're on track to sell.

Speaker 1:

The United States this year is on track to sell 4.03 million homes. I mean that is 11,000 homes per day selling. That's 460 homes selling per hour in the United States. That's roughly eight homes every minute selling in the United States. Roughly eight homes every minute selling in the United States. In the time it takes just to share that information, there's going to be eight homes that will sell. So I mean every single minute buyers are making moves, sellers are closing deals and if you're holding off selling your house because you think buyers aren't out there, let me reassure you. There are buyers still looking to buy.

Speaker 1:

So the market is balancing out. I mean we still technically are in a seller's market when you look at the supply and demand. But a six-month supply is considered a balanced market. More than six months is a buyer's market. We've not tipped into that yet, but I mean there is always an ebb and flow. But really the last few years it's been I would call it maybe even more of a hyper seller's market where we had a two to three months supply of homes. Now we're close to four to five months supply of homes. It's still technically a seller's market and that's why we see days on markets increasing.

Speaker 1:

But just to give you a snapshot, just in the last seven days in Henderson County 52 new listings, 64 price adjustments. There was 34 homes go under contract and, interestingly enough, 34 homes sold in the last seven days and again, you know that's the beginning of the month. A lot of times you'll see homes. A lot of people try to. You know, for whatever reason they schedule homes to sell at the end of the month or close at the end of the month. But the market is still moving and we will dive more into that. You know, as we later in the show as to some more statistics about what's going on in the market. But the market is moving. Interest rates are the interest rates. The economy is the economy. Life happens, therefore real estate happens. And as you're thinking about your own personal, your home, you're thinking about do I want to downsize or upsize? Maybe you want to move into a multi-generational home, maybe you want to get closer to the grandkids? I mean, there's so many reasons. Maybe you had the loss of a loved one, I mean maybe your family's growing. Again, there's so many reasons why people are buying and selling and majority of the time it has nothing to do with the interest rates, it has nothing to do with the market. It's life happens. Therefore real estate happens. And I can assure you real estate is happening. Life is still happening.

Speaker 1:

We are and we're having conversations every single day with our clients and whether it's their personal home, whether it's our clients thinking strategically about their investment real estate or what they're thinking ahead with managing, what they're managing or they want to downsize Again, there's so many reasons why our clients are selling and we have tax strategies, working with tax professionals, working with attorneys, working with our financial advisors we have an entire team. When you're working with attorneys, working with our financial advisors, we have an entire team. When you're working with us, we can bring to the table an entire team that can help you navigate through what's right for you and we can bring perspective and we can bring clarity. Just because you have a conversation with us doesn't mean you're going to be buying or selling or anything. It's just providing clarity so you can make a decision for what's right for you. And we'd love to interview for the job. You can call us directly at 828-393-0134,. 828-393-0134. We are so enthusiastic about working with our clients. We've had the privilege in my career of helping over 1,500 families throughout my career in selling real estate. We're so grateful. Whether it's your home, an investment property, land, commercial, I mean we can help and we'd love to interview for the job. Find us online at realestatebygregcom. You can see our new listings. We had a number of listings go under contract over the past few days, had a number of listings go under contract over the past few days. I mean even over the 4th of July weekend. I mean the market's moving and we'd love to help you, if that makes sense.

Speaker 1:

We have a short break coming up, but you're listening to the George Real Estate Group live radio broadcast here in the queue every Monday morning and we have a lot more to cover when we come back. So stay tuned in. We'll be right back. Good morning and welcome back. You're listening to the Georgia Real Estate Group live radio broadcast here on the queue every Monday morning and if you're just tuning in for the first time, we've been doing this show for a number of years. We podcast all of our radio shows. We've had the privilege of sharing about what's going on in the real estate market, also just having conversations about life. We love those conversations too, and over the years we have different guests on the show. We have a lot of nonprofits. We've had local business owners and whether it's people in the industry or financial advisors or attorneys or home inspectors or appraisers, and we love having the conversation to bring positive news and information so you can just have some more information to understand the market.

Speaker 1:

And the market is moving. I mean the market. You know, in the last 12 months there's been, you know, 1,515 single family homes sold in the last 12 months. I mean 126. And, like I mentioned earlier, there's been a slight increase in number of homes sold this year versus the number of homes sold year-to-date this year versus the number of homes sold last year. So I mean the market is healthy. The sky is not falling, the days on market are increasing, so we see a little bit more, you know, longer times in the market.

Speaker 1:

But on the other side of the coin, if the home is priced correctly, it's moving. We're not, you know, we're not seeing. You know you can sell a home quickly, and not that it's about selling quickly, but the goal is to sell it for a fair amount of money, for what the market will bear. The market will always talk back as to the number of homes. The market will always talk back to you. If you're getting offers, getting showings, the market will always talk back to you. And that's where working with a professional to guide and to provide information so you can decide how you want to position your home on the market. And just having clarity and having the resources and then the things that we do that we know help move homes the professional photography, the professional marketing, the exposure that we provide for our clients and our listings. And no amount of marketing will sell a home if it's overpriced and ultimately the market will talk back. But the market's still moving. The number of homes selling has been. There's been a slight increase in the number of homes that have sold this year, year to date, versus last year, and so, again, it's healthy. It's a healthy market that we're in. And, again, if you're curious about your specific home, your unique situation, if you're curious what are your options, or you're curious I mean we have the resources and experience to provide you information then you can decide what's right for you in regards to the economy, to the market and making a plan for you to do that. And we'd love to interview for the job. Give us a call 828-393-0134, 828-393-0134. We'd love to have the conversation I was reminded over the weekend of.

Speaker 1:

This is so interesting. I sometimes can go down these rabbit holes, but I love quotes and I love I do love the Stoic philosophers approaches. And Marcus Aurelius was a Roman empire and regarded one of the most important Stoic philosophers and regarded one of the most important Stoke philosophers. But he actually has a lot of quotes that you may not realize. This is like 600 BC if I'm getting my dates correct, but this is amazing. You might have heard these quotes and maybe didn't realize they came from Marcus Aurelius. He wrote a book called Meditations which was actually not meant to be publicized. They were actually his private journal, written in Greek and reminding him how to live virtuously. But he was actually adopted by Emperor Antonius Pius and Marcus actually became heir to the throne. But he ruled during a turbulent time marked by wars and a devastating plague. But he wrote this journal called Meditations and remains one of the greatest works of Stoic philosophy and practical wisdom. But this is so interesting.

Speaker 1:

This is one of his most famous quotes you have power over your mind, not outside events. Realize this and you'll find strength. Another one the happiness of your life depends on the quality of your thoughts. I'm just going to share with you some of these quotes. I think they're worth considering. When you arise in the morning, think of what a precious privilege it is to be alive, to breathe, to think, to enjoy and to love. If it is not right, do not do it. If it is not true, do not say it. Waste no more time arguing what a good man should be. Be one. Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth. And then the best revenge is to be unlike Kim, who performed the injury and then another one. Accept the things which fate binds to you. Love the people with whom fate brings together, but do so with all your heart.

Speaker 1:

So he was often called the philosopher king, and it was a rare example of a ruler who earnestly tried to live by wisdom, self-constraint and reason. And he reminds us, even in positions of great power, a person can strive for humility, virtue and calm acceptance of life's hardships. And so his meditations are still read worldwide and have helped people navigate modern stress with ancient wisdom. And then one more thing. This is so interesting that one of his other ideas was the obstacle is the way, and he, his exact quote that inspired the phrase, is the impediment to action advances action. What stands in the way becomes the way, and so a lot of you know the when you face an obstacle, you don't just endure it, you use it. And then hardship, resilience and setbacks can actually fuel progress if you respond with the right mindset and the challenge itself becomes the path forward.

Speaker 1:

And so sometimes at the heart of what he's saying is obstacles are not just roadblocks to your goal, they create the new path, not just roadblocks to your goal, they create the new path. And then, when we face challenges, they force you to adapt, to grow, to innovate and build resilience. And so when something blocks your plan, it becomes the plan. So again, we get to decide how we react to things. We get to decide how to respond to things. React to things, we get to decide how to respond to things. And again, the growth. And when you don't have opportunities for challenges I mean it's just like lifting weights. You know the weight is the obstacle that builds the muscle, and so it just challenges can force you to think creatively. They test your patience and again even strengthen your will. And again you're even strengthening your will.

Speaker 1:

And again, hard times refine you. They don't ruin you, but it's this mindset. So maybe it's a career setback, maybe you didn't get the job and that pushes you towards something better or makes you develop new skills. Maybe you're facing health problems. Illness can humble you, it can deepen your gratitude and even push you to change habits. And then, in business failures, many breakthroughs are born through mistakes and they create new opportunities. And, of course, we cannot control what life throws at us, but we can control what we do with it. So again, it's just a reflection, and I will say this in regards to real estate the real estate market is ever changing. The real estate market is evolving. It's just changing. It is what it is.

Speaker 1:

People ask well, is it a great market? The market's the market. It's. What do you want to do with it and how do you want to navigate through it?

Speaker 1:

There is a way to navigate through a changing market, especially with real estate. What do you want your life to look like? How does real estate impact what your life looks like? But maybe you've came to a point where it's just too much to maintain, and we find this frequently. Yes, pricing your home correctly is so important, but it's not the price that is the most important thing. You got to decide what your life looks like and is your home serving you the way you want your home to serve you? And again, it's not. The money certainly is important, but it's not everything. What's the bigger picture? Does it allow you to selling your home, allow you to move on to the next stage of life? Does getting that next home allow you to move on Again?

Speaker 1:

There's so many reasons why people are buying or selling and it can be a very challenging moment. But having a professional, having a real estate agent that can walk you through and give you choices, give you options, you are in control, you don't have to do anything. But we find, when we provide clarity and provide information for our clients to navigate through the buying and selling process, it helps our clients have choices and there is a way forward in navigating through whatever market it is. The interest rates are the interest rates, the economy is the economy. But we know that even though the market's shifting, even though days on market's increasing, we've had the ability and we continue to sell homes. We've actually helped more people this year year to date, our team has than we did last year. I mean, we're growing, we're helping more people and so we'd love and be honored to interview for the job. We're helping more people and so we'd love and be honored to interview for the job. You can call us directly at 828-393-0134, 828-393-0134. We would love to have the conversation.

Speaker 1:

30%, by the way, 30% of our sales in Henderson County are purchased with cash and deciding when it makes sense to pay cash, when it makes sense to get a mortgage. But if you can qualify for, if you're not paying cash and you can qualify for a home with today's interest rates, I mean, here's the thing well-qualified buyers have access to financing, which is opening more doors for people ready to make a move. Here's the thing the strict requirements. If you thought there were strict requirements, it's really basic. They're going to look at the last two years of your tax returns, make sure you have income. They have guidelines to the debt you have versus the debt you're looking to acquire. They call it the debt to income ratio. They're going to make sure that you qualify for without. They're not going to and they're not doing risky lending practices. It's not what they did back in 2008 that led to the housing crash.

Speaker 1:

The thing is, banks are offering credit to more people in an effort to boost activity in the housing market. It's you know they do have. I mean it's. If you have a option for a VA loan, you can actually get 100% financing. We have clients that have the ability to put down payments and pay cash, but sometimes, strategically, they're taking out a mortgage. It really depends on your unique situation and, again, what makes the most sense for you. There's also USDA loans, which is 100% financing. I mean, you know they have eased. There's been a slight easement in the lending standards, but certainly much tighter than what they were back in the day. But you know the mortgage credit availability index this is according to the Mortgage Bankers Association it's been going up. It shows how easy or hard it is for people to get a mortgage and so the mortgage credit availability has been rising.

Speaker 1:

So, again, if you're thinking about buying or selling, again there is access to mortgages, there is access to loans and again, that's another conversation the partnership that we have with wonderful lenders and whether it's your personal home you're looking to buy, whether you're looking to buy a second home or an investment property or commercial property or land, we have great recommendations. In addition to that, once you're under contract, working with our home inspectors and our attorneys and our appraisers and surveyors and pest inspections, septic inspection and our contractors, our handymen, we have an incredible team that we put together, that we've been doing this. This is my 20th year with my broker's license. We'd love to help you navigate through, whatever it is, your unique situation, your unique home. Give us a call. 828-393-0134, 828-393-0134.

Speaker 1:

We love serving our community through real estate. If you thought about a career in real estate or maybe you already have your license and looking for a different approach, we'd love to have the conversation. Call us today. 828-393-0134, 828-393-0134. We podcast all of our radio shows. You can find this on your favorite podcast platform. You can follow us on social media. You can see our new listings or open houses. We celebrate our successes there. But again, we're so grateful to serve the community through real estate. We are so enthusiastic about helping our clients and we love it. We love having the conversations. Don't hesitate to give us a call 828-393-0134. Thank you so much for tuning in this Monday morning. We love being here every Monday morning sharing with you about the real estate market. The average single-family home price is in the high 530s. We're averaging some 126 single-family homes a month selling. It's a great time. The market's still moving. Be careful when you listen to the news. But again, we'd love to help you. Give us a call. Call 828-393-0134. Have a great day, have a great week and we'll see you next Monday.

Speaker 1:

Thinking about estate 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 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.