George Real Estate Group Radio Broadcast

Selling Homes in Western North Carolina: Navigating Today's Market with The George Real Estate Group

• George Real Estate Group

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Your mindset shapes your real estate reality. This truth resonates throughout our latest episode as we dive into Western North Carolina's shifting market landscape with fresh, encouraging insights for both buyers and sellers.

The numbers tell a compelling story: Henderson County saw 46 new listings, 74 price adjustments, and 35 properties going under contract in just the past week. Year-to-date, new listings are up 14%, closed sales have increased 9%, while prices have softened slightly. The most significant shift? Days on market have increased 37% to 63 days—creating both challenges and opportunities depending on which side of the transaction you stand.

For sellers, we unpack four critical mistakes to avoid: overpricing your property (despite emotional attachments), investing in upgrades with poor returns, refusing to negotiate in a market with more inventory, and failing to properly research agents (81% hire the first one they meet!). Each misstep can significantly impact your bottom line and selling timeline.

Meanwhile, buyers are experiencing something rare and valuable—mortgage rate stability. After years of volatility, rates have remained within a half-percentage point range, creating what Housing Wire calls "one of the more calm periods for mortgage rates in recent memory." Combined with improving inventory and moderating price growth, this stability offers a planning window that savvy buyers can leverage.

Perhaps most importantly, we explore the psychology of real estate decisions through two powerful quotes: "Pessimists get to be right, optimists get to be rich" and Henry Ford's classic "Whether you think you can or whether you think you can't, you're right." The truth is, those who take action despite imperfect conditions are the ones building equity and moving forward while others remain stuck waiting for an ideal moment that may never arrive.

Ready to discuss your unique real estate situation? The George Real Estate Group brings over 100 years of combined experience to every client interaction. Contact us at 828-393-0134 or visit realestatebygregcom to learn how our experienced team can help you navigate Western North Carolina's real estate landscape.

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. The dramatic pause Sorry, I was chatting with you beforehand. Good morning, welcome to the Georgia Real Estate Group live radio broadcast here on the queue. That dramatic pause can really set the stage what's about to come on. But we're so grateful to be here with you every Monday morning sharing with you positive news about your real estate market and local community. So much to be grateful for here this July Monday morning. I mean, can you believe how quick July is flying by? And so much to be thankful for. And we're so grateful to be here with you and we're going to share with you about what's going on in the local real estate market and what's happening across the industry and if you're tuning in for the first time ever, the George Real Estate Group, we're located in Flat Rock, right next to the Flat Rock Bakery, hubba Hubba Barbecue, campfire Grill, our friends at Hubba Lou as well. I joke. It's a dangerous place for an office and we are so grateful. It's amazing the amount of people that come in through there, that are visiting the area, that they're dropping their kids off at camp, they're exploring, they're having their experience of Western North Carolina and we're grateful to be an opportunity to share with them about the community I share, that we are. I am I am biased. I think we live in one of the most amazing places. It's an it is not an unbiased opinion.

Speaker 1:

When they ask about the area and and everybody has their story about what first brought them to this area, and then people coming back and visiting and you know we hear frequently the mountains are calling, the mountains are calling their name and so so many people have had that experience where they come and then they figure out a way how do we make it our home here and we've had the privilege of helping so many people navigate through buying and selling and also investing in real estate and people making that transition to move here. We've helped so many people. North Carolina one of the more recent reports was North Carolina is in the top three incoming migrated states, and so we've had the privilege of helping so many people move into the area. It seems more people are moving here than moving out of here. At least that's been our experience. We've helped so many people relocate to the area and then, once people are here, we help people upsize, downsize, right-size. We help people get into their retirement community. We've helped families get closer to their own family members.

Speaker 1:

Again, whatever the situation is, we know real estate happens around life. It could be a really positive reason why you're buying or selling. It could be a challenging reason. We're grateful for the opportunity to help navigate through the buying and selling process and we'll dive into that conversation about selling homes. I mean, we're out there every single day and it's a privilege and an honor to help our clients navigate through the buying and selling process. The market's the market. I mean the market certainly has its cycles. There's a top of the market, there's a downturn, there's a bottom of the market and a recovery, and the market will tell us what it's doing. And again, there's also what your home is worth and what a buyer is willing to pay for it. Those are conversations that we have with our sellers all the time and we certainly would love to interview for the job. You can give us a call at 828-393-0134, 828-393-0134. You can find us online at realestatebygregcom.

Speaker 1:

We also podcast all of our radio shows. You can find us on your favorite podcast platform, but we've had the privilege of helping over 1,500 families, quickly approaching 1,600 families throughout the years. This is my 20th year of my North Carolina broker's license. We're so enthusiastic about helping our clients navigate through the buying and selling process. You can go to our website, georgerilestategroupradiocom. You can also go to realestatebygregcom. Greg is an acronym for George Real Estate Group. Like I said, you can stop by our office there in Flat Rock there on Rainbow Row, and then we also podcast. We podcast all of our radio shows. You can find it on your favorite podcast platform.

Speaker 1:

But just in the last seven days in Henderson County, just to give you a snapshot of what's going on I mean the market continues to move here locally In the last seven days in Henderson County 46 new listings. There's been 74 price drops. There's 15 homes that actually went back on the market in the last seven days, which, back on the market, means maybe they temporarily removed it off the market, maybe they were under contract and then the buyers changed their mind during the due diligence period and then under contract. There's been 36 properties go under contract in the last excuse me, 35 properties go under contract in the last seven days and then 41 homes closed. Now this is the middle of the month and so you know we tend to see more closings towards the end of the month.

Speaker 1:

But the point is I'm trying to share is that you know there's been a lot of activity just in the seven-day period here and there continues to be activity, there continues to be demand. I mean new listings. Year to date, through the end of June, through the reporting of the Canopy Realtor Association, the MLS, through the end of June, there's been a 14% increase in new listings. There's been a 5% increase in pending sales. There's been a 9% increase in closed sales, while all the while prices have softened a little bit, there's been a 2% drop in the median sales price, a 1.4% drop in the average sales price and then probably the biggest increase we've been seeing is days on the market, cumulative days on the market, cumulative days on the market and then the timeframe from listing to close. I mean from listing to close. That's gone up 17% to 116 days. The days on the market until it goes under contract is now at 63 days. That's up 37%. And then cumulative days on the market until the sales, up 36% to 68 days.

Speaker 1:

So if you're thinking and just curious what your home is worth, if you're curious, what do you do? Do you sell before you buy? Do you buy before you sell? What's your unique home, your unique situation? We'd certainly love to interview for the job. There's no pressure, there's no cost, there's no obligation. You can give us a call at 828-393-0134, 828-393-0134. We'd love to interview for the job. You can call us, you can stop by our office, you can connect with us. You can go to our website, realestatebygregcom. We also put on Facebook all of our open houses, our new listings. I mean we'd love to connect with you any way we can and feel free to reach out.

Speaker 1:

So there's some common mistakes that sellers can make and certainly if you're thinking about selling your home, there's some mistakes to avoid. Selling your home is a big decision and it's an exciting opportunity but, as I've shared, the market's shifting. The housing market's shifting and this is where even a small mistake or a small misstep can lead to major headaches or even lost profit. The good news is, most seller mistakes are entirely avoidable when you know what to watch out for and when you have the right expert by your side. So let's walk through four of the biggest mistakes home sellers make and how working with a seasoned real estate professional like the agents at the George Real Estate Group can help you avoid them. This is number one. Let's just be really candid.

Speaker 1:

You can overprice your home and, of course, it's completely natural to want top dollar for your home, especially with all the time, the energy, the resources you've put in and the upgrades, the maintenance and the emotional energy. But pricing your home too high can be a real misstep in today's market. Investopedia put it this way setting a listing price too high could mean your home struggles to attract buyers and stays on the market for longer. That time on the market can hurt your home's perceived value. The longer a home sits, the more likely buyers are to wonder what's wrong with it. Eventually you may have to drop the price anyway, often more than if you'd have priced it realistically to begin with, and that's where I was sharing with you again context. Days on the market are getting longer, but buyers still wonder if homes have been on the market a long time. They wonder, even though their perception is incorrect, they say what's wrong with it. So that's why having a real estate professional real estate is more than just listing your home. We perform what's called a comparative market analysis, looking closely at recently sold sales that are nearby, looking at existing current inventory you're competing against, and then your home's unique features and conditions. The strategy gives your house the best chance to attract interest early, and in some cases we're still experiencing a multiple offer situation that can actually drive your price up, not down.

Speaker 1:

Another mistake sellers make is spending money on the wrong upgrades. Of course you want your home to shine, but throwing money at random renovations won't always yield a return. Redfin reports that there's nearly 500,000 more sellers than buyers in the current housing market, and that means competition is up and preparation matters, but not all improvements are created equal. We know at the George Real Estate Group which upgrades buyers in our area are actually looking for. We know what changes can boost value versus what eats into your bottom line. And then also at the George Real Estate Group. We know how to stage and highlight the right features and marketing materials. So, instead of wasting thousands on trendy upgrades with little return on value, let us guide you in making smart, cost-effective improvements that buyers will notice and pay for. And that's why it's never too early to have the conversation with us about thinking about selling even before you do your renovations and remodels. I mean, even if you're six months, 12 months, 18 months out and you're thinking, hey, we're thinking about, we're going to do some improvements to our home, but even we might be a year or two years out. It's never too early to have the conversation with us. We might be a year or two years out. It's never too early to have the conversation with us.

Speaker 1:

And then number three refusing to negotiate. Gone are the days when sellers could expect buyers to meet every demand. With more inventory available, buyers have more options, and they know it. Us News put it this way If you've received an offer in your home that isn't quite what you'd hoped for or what it would be expect, to negotiate Make sure the buyers also feel like he or she benefits. And so it's not always about price. Sometimes you're negotiating over terms and closing costs and timelines and repairs. And, of course, you are negotiating price and a skilled agent will help you stay calm, strategic and solutions focused.

Speaker 1:

Minor concession now can mean a successful closing rather than your deal falling apart on the 11th hour and again deal falling apart on the 11th hour. And again it's keeping the bigger picture in context and looking at what your goals are, where you want to go. We've talked about this before, but North Carolina is an as-is state. Sellers are not obligated to do any repairs, buyers are not obligated to buy during the due diligence period, during that investigative period, and so you have your initial contract negotiations, your price, your timelines, your terms, and then the buyers get to do an investigation during their due diligence period, and this is at their expense, at their costs, and then at their discretion, they get to decide does the house and its current condition work for me, or are we going to come back to the seller and suggest, hey, we're willing to still buy this house if you're willing to consider and address these things, whether it's a credit or repairs and then the seller they don't have to do anything, but remember the buyer doesn't have to either, and so working out a win-win for both parties usually can come to a successful closing.

Speaker 1:

And and then finally, skipping research when choosing an agent, one of the biggest surprises. According to the National Association of Realtors, 81% of sellers hire the first agent they talk to. That might work out sometimes, but wouldn't you rather be sure to ask the questions how long have you been in the business? How many homes have you sold? What know? What kind of experience do you have? You know how do you plan to market your home?

Speaker 1:

I saw a funny billboard the other day where this agent said we've sold over 500 homes. Your cousins only sold two. And it said list responsibly. Again, sense of humor there. But again, just because they're a family member or a friend, you want to take off. When we have those conversations. It's about business. And again, if you want to save that friendship or save that family relationship, we recommend interviewing, getting another opinion.

Speaker 1:

And again, the right agent isn't just a middleman. They're actually your advocate, your advisor and your negotiator and they'll guide you from pricing and prep to closing and beyond, which can help you sell smarter and with less stress. So selling your home doesn't have to be overwhelming or risky, not when you have the right guide on your side, and so a seasoned agent and, like the agents at the George Real Estate Group, we can help navigate the market, we can avoid common mistakes and we can maximize your profits. So before you list, we'd certainly love to talk Again. What's the questions you have? What's the questions you're not asking? Again, we'd love to interview for the job. Give us a call. 828-393-0134,.

Speaker 1:

The George Real Estate Group. We have incredible experience. We have over 100 years combined experience and in my career, in my 20 years, I've had the privilege of helping over 1,500 families. So if you're thinking of buying, selling or investing in real estate or career in real estate, give us a call 828-393-0134. Find us online at realestatebygregcom. Follow us on social media for our updates on our open houses and our new listings and celebrating our successes and celebrating our sellers and our buyers' recent real estate successes.

Speaker 1:

So you're listening to the Georgia 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 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 on the queue every Monday morning. We're so grateful to be here with you. And, of course, if you're thinking of buying, selling or investing in real estate, or even a career in real estate, we'd love to have the conversation. Stop by our office there in Flat Rock at Rainbow Row. Love to buy a cup of coffee there. Stop by. We can also be reached at 828-393-0134, 828-393-0134. We'd love to have a conversation, love to meet you, love to talk about whatever you'd like to talk about. We're grateful for the opportunity to serve our community through real estate. We also podcast. We also podcast all of our radio shows. You can find that on your favorite podcast platform. And again, we'd love to connect with you.

Speaker 1:

I recently came across a fascinating quote and it really stuck out to me and I thought it'd be worth sharing. Pessimists get to be right, optimists get to be rich. And it lines up also with another, reminding me of another one you might recognize from Henry Ford Whether you think you can or whether you think you can't, you're right. And the two quotes go hand in hand because both are really saying the same thing about your mindset shapes your reality. I mean, if you believe things won't work out, that the market's too tough and there's no opportunities, well, you'll find plenty of reasons to stay stuck, and sure you might be right about how hard things are, but that mindset doesn't move you forward. On the other hand, optimists who believe there's a way through are the ones who tend to take action. They invest, they create, they take risks and, even if they stumble, they learn and grow and often end up building wealth, relationships and opportunities that pessimism would have completely shut out.

Speaker 1:

By the way, I see this in real estate every day. The people who win, the people who build equity, who move when the timing isn't perfect but the vision is clear, the ones who believe something better is possible. So the real question is what are you believing today? Because, like Ford said, whether you think you can or think you can't, you're right. And Naval reminds us, pessimists might get to be right, but it's the optimists who get to be rich.

Speaker 1:

I mean, I just fascinating to me when you, you think things, it's all about your mindset. It's all about you know and this is also true in in regards to maybe even a career in real estate. Or, you know, if you're, you know someone that has, maybe you're someone that's thought about getting into the real estate as a career, and your mindset matters more than your experience. And experience certainly comes into play, and that's where agents partner with us at the George Real Estate Group. But I've seen people come from every walk of life Teachers, nurses, stay-at-home parents, retirees build an incredible career in this field. And it begins with belief belief that you can learn, belief that you can grow, belief you can serve people well and build a meaningful business. And then, with our sellers, you might be thinking the market's too uncertain, maybe I should wait, and that's really the voice of fear and understandable. But remember, wait and that's really the voice of fear and understandable. But remember, the people who take action, the people who lean into opportunity, often end up ahead. So the truth is, you can sell your home successfully in any market when you have the right plan, the right agent, the right strategy and the right team behind you. So we are talking and meeting with people every single day and it comes through in mindset, and it matters what your mindset is, and so we'd love to have the conversation and this gives you a little bit of insight into how we think, what we believe and again showing up and how we take action.

Speaker 1:

And the market's the market. The economy's the economy. The interest rates are the interest rates. I mean, the interest rates are the interest rates. The thing is, though, mortgage rates are leveling out. Over the past year, mortgage rates certainly have been on a roller coaster. They've gone up, they've gone down, they've been spiking, and people feel like it's impossible to plan or be confident. But the thing is, though, we have seen more of a gentle ride than the roller coaster. According to analysts, rates have stayed at about a half a percent point range since last year, and so, while there's some week-to-week movement, the big swings we saw in 2022 and 2023 aren't dominating the story anymore. Housing Wire said this.

Speaker 1:

Analysts, economists and mortgage professionals are coining this quarter's activity as one of the more calm periods for mortgage rates in recent memory. So why this matters? For buyers, let's face it, uncertainty creates anxiety. When mortgage rates change dramatically week to week, it's tough to budget or feel confident making an offer, but when rates hold fairly steady, it's much easier to get a clearer picture of what your monthly payment could look like, or when you're buying your first home, upgrading or relocating. So, with the calm, creates a rare opportunity of a window that you can plan with more confidence. You can lock in a predictable payment and you can move forward.

Speaker 1:

We don't know if this is going to stick around or not. The experts think it will, and experts and economists project even a potential slow decline in mortgage rates, but it doesn't mean it's going to be so dramatic that buyers should wait Again. There's no such thing as the perfect time or the perfect rate, and so if you can afford what you can afford, consider buying now, and these are things that we discuss with our buyers and our sellers. So waiting and sitting on the sidelines could cost you and could mean missing out on that perfect home, could cost you missing out on the equity. And it's not always about the rates Mortgage rates this is according to Sam Cater. The chief economist at Freddie Mac said this. Mortgage rates have moved within a narrow range for the past few months. Rate stability, improving inventory and slower house price growth are an encouraging combination, and so, buyers, things are in your favor. Right now, affordability remains a challenge, but the market shows signs of stability, and that can be a game changer. If you're ready to buy, and so, as a buyer, it might be time to look at the numbers, evaluate your options, make a plan At the George Rill State Group.

Speaker 1:

We're consulting every single day with buyers and sellers. It's the classic do it buy before I sell? Do I sell before I buy? Maybe we're looking at the tax implications. Maybe you own real estate that you've inherited, maybe it's land, maybe it's an apartment, maybe it's a condo, maybe it's a rental house. Whatever the situation is, we're consulting with our sellers and buyers every single day, putting clarity and putting a plan in place and helping our clients have options and choices in what might feel overwhelming and confusing. But we're so grateful to serve the community through real estate. We have the experience. This is my 20th year with my North Carolina broker's license and in my career we've had the privilege of helping over 1500 families with their real estate.

Speaker 1:

And the market is the market, and so I mean I shared earlier that the prices they're holding, I mean they're slightly down. The median price is slightly down, 2% year-to-date through the end of June this year, versus year-to-date through the end of June last year. The average price is only down 1.4%. The days on market is getting longer and as a seller, you still want to price it ahead of the market. You want to price it to sell, you want to price it to move in. We can't guarantee it, but we certainly are still seeing multiple offers come across in this market. We're seeing homes sell quickly and guess what? The market doesn't always bear the price. In our best efforts to price the home together with our seller and sometimes you have to make adjustments it's okay, you make adjustments. You then do a price adjustment and you sell it and you move on to your next home, your next life, whatever, or chapter, whatever that might be. Maybe it's moving closer to the grandkids, maybe it's downsizing. Maybe it's moving closer to the grandkids. Maybe it's downsizing. Maybe it's because you want to go travel more.

Speaker 1:

There's so many reasons why our clients buy and sell. We know life happens. Therefore, real estate happens, the interest rates are the interest rates, the economy is the economy, the market's the market. And we know mindset matters. Again the quote that I came across this weekend mindset matters. Again the quote that I came across this weekend pessimists get to be right, optimists get to be rich, which reminded me of the other quote by Henry Ford Whether you think you can or whether you think you can't, you're right and it's the mindset that shapes your reality. If you believe things won't work out, that the market's tough and there's no opportunity. Well, you'll find plenty of reasons to stay stuck, and sure you might be right about the hard things, but that mindset doesn't move you forward. There is a way through, and life tends to reward those that take action. And so we're taking action.

Speaker 1:

We're showing up every day. My joke is, I'm an overnight success. It's taken 20 years of showing up every day and we'd love to show up for you. We'd love to have the conversation and we can provide clarity and information and show you what the market's doing. The numbers are the numbers and we can help set you up for success. We have an incredible team in place, from our professional photographers to our lenders, to our attorneys, to our tax advisors, to our staff on our team. We have an incredible team in place and if you're thinking of buying, selling or investing in real estate or a career in real estate, give us a call 828-393-0134, 828-393-0134. You can find us online at realestatebygregcom.

Speaker 1:

We're here every Monday morning on the queue, sharing with you about the real estate market, and we're having conversations about life. I know my kids are still enjoying the summer. I mean, summer is counting down. August 11th is coming around the corner very quickly and my kids are enjoying the summertime right now in this beautiful summer weather that we're in. Again, a lot to be grateful for. And again, I hope you enjoy your day, I hope you take care of yourself, I hope you're kind to yourself and, again, reach out and connect to that person. Maybe you've been waiting to reach out to that. You know how people come to your mind and you're like oh, I need to reach out to them. Well, make that phone call, send that text and say hello and reconnect so we're here every Monday morning. Thank you so much for joining us. It's a privilege and honor to serve the community through real estate. Give us a call 828-393-0134. Find us online at realestatebygregcom. We podcast all of our radio shows, so be sure to subscribe. But have a great day and we'll see you next Monday.

Speaker 1:

Maybe the house feels a little too big these days, the stairs a little steeper, the pace of life a little too fast. But what if your next move wasn't about letting go? It was about making space for peace, for freedom, for what matters most? At the George Real Estate Group, we understand that real estate isn't just about the house. It's about transitions, timing and trust. We've helped thousands of families in Western North Carolina make smart, thoughtful moves closer to nature, closer to family, closer to home. So when you're ready to right size, simplify or start fresh, we'll be here. The George Real Estate Group local, trusted, proven. Call us today 828-393-0134. Find us online at realestatebygregcom, because your next chapter deserves to feel just right.

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.