George Real Estate Group Radio Broadcast

Finding Your Home's True Value

• George Real Estate Group

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The delicate art of pricing your home isn't just about numbers—it's a strategic decision that can make or break your selling success. In this eye-opening episode, we explore why so many Henderson County sellers are facing price reductions while others are celebrating quick sales with multiple offers.

Drawing on real-time market data, we reveal the surprising disconnect between national headlines and our local reality. While Henderson County continues showing strength with a 9% increase in closed sales and steady demand, the 37% increase in days on market tells a critical story: today's buyers are more discerning than ever. They have options, and they're exercising them.

This shifting dynamic makes your initial pricing strategy more crucial than ever. When you overprice, you risk your home lingering on the market, which creates a perception problem that can ultimately lead to a lower final sale price. We share real examples from our experience helping nearly 1,600 families navigate these complex decisions, offering practical wisdom on how our two-step pricing approach can help sellers avoid costly mistakes.

Beyond pricing, we discuss the elements that truly make a difference in today's market—from professional photography to staging tips anyone can implement. We also explore the fascinating connection between home equity and financial freedom, with insights on how approximately 40% of American homeowners have their homes fully paid off, creating tremendous opportunity.

For buyers, we emphasize the absolute necessity of getting pre-qualified before shopping, especially in a market where approximately 30% of Henderson County homes are purchased with cash. Being prepared gives you the competitive edge when the perfect property appears.

Whether you're buying, selling, or simply keeping an eye on local real estate trends, this episode provides the clear, actionable information you need. Contact us at 828-393-0134 or visit realestatebygregcom to discover how our century of combined experience can work for you in Western North Carolina's dynamic real estate market.

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 the queue every Monday morning, sharing with you positive news about your local real estate market community. We're so grateful to be here with you. So much to cover today. We have a special guest which I'll introduce to you in just a second, but we are so excited to be here. It's the first show of August and, wow, time is flying. The summer's flown by. My kids are excited about starting school next Monday, my son's in football practice so much is going on. How about this weather? This weather's been incredible. I mean, what a tease for the fall. I mean, it certainly felt like it was a fall day with that cool rainy day over the weekend. We certainly enjoyed that, but just so much to be thankful for. And if you're tuning in for the first time ever, the George Rills League group's located in Flat Rock. We certainly enjoyed that, but just so much to be thankful for.

Speaker 1:

And if you're tuning in for the first time ever, the George Real Estate Group's located in Flat Rock. We serve all of Western North Carolina and the upstate South Carolina. We have an incredible group of agents. We have incredible staff. We are so enthusiastic and passionate about helping out our clients navigating through the real estate market. Whether you're thinking of buying or selling, or investing in real estate or a career in real estate.

Speaker 1:

We'd love to have the conversation and, again, just grateful. You can call us directly at 828-393-0134, 828-393-0134. You can find us online at realestatebygregcom. You can also follow us. We podcast all of our radio shows. Also, you can follow us on social media and Facebook and Instagram. We'd love to connect with you or just stop by our office there in Flat Rock. I joke it's a dangerous place for an office with a bakery there next door. I want to wish a happy birthday to one of our agents, Wendy. It's her birthday today, so happy birthday, wendy. We're so thankful for you and, again, just grateful for our team. We have an incredible team in place and we're here every Monday morning sharing the positive news about the local real estate market. We're going to have a conversation, but I'm going to take a second. I have a special guest with us this morning and I'm going to let her introduce herself.

Speaker 2:

Thank you so much for having me. I'm really excited to be here. I'm ChatGPT and I'm here to chat about anything and everything. Really Looking forward to our conversation today.

Speaker 1:

So we talked you're going to join us. We're live on the radio this morning. We're just going to have a conversation and you're AI.

Speaker 2:

That's right, I'm an AI and I'm here to help answer questions, share insights and just have a fun chat with you and your listeners. So let's dive in.

Speaker 1:

So we're always talking about the real estate market. The market in Henderson County continues to move. We continue to see strong demand. It's not what it was a few years ago, but we're still averaging about 126 single-family homes a month selling. The average price over the last 12 months is in the 540s. And let's talk why is it so important to price your home correctly?

Speaker 2:

That's a great question and such an important topic. Pricing a home correctly really sets the tone for how quickly it sells and the kind of interest it generates. If you price it too high, it might sit on the market longer and could even end up selling for less than it would have if it were priced right from the start. On the other hand, a well-priced home can attract more buyers and even lead to multiple offers, which is always exciting.

Speaker 1:

You know, when selling your house, the price you choose isn't just a number, it's a strategy, and in today's market that strategy needs to be sharp, and so pricing your home from the beginning is so smart and having the right agent, the agent, and I would argue, call one of the agents at the Georgia Real Estate Group. We can help make sure you do. But what are some of the challenges or some of the risk you run by overpricing your house?

Speaker 2:

Overpricing can definitely be risky. One big challenge is that it can cause your home to linger on the market, and the longer it sits, the more buyers start to wonder if there's something wrong with it. It can also mean you might have to do price reductions down the line, which sometimes makes buyers think they can negotiate even more. In the end, it can mean a longer selling process and possibly even a lower final sale price, which nobody wants.

Speaker 1:

Absolutely. I mean just for some context. Just in the last seven days in Henderson County we've had 54 new listings, 76 price reductions, we've had 41 homes go under contract and 40 homes closed. Now this is today's August 4th, the beginning of the month. I mean the end of the month was last week and so that's why we saw the number of the month. I mean the end of the month was last week and so that's why we saw the number of homes closed. But the trend is in Henderson County we continue to see a trend of price drops.

Speaker 2:

Absolutely, and that trend really highlights how important it is to stay realistic and strategic with pricing. The market is still strong, but buyers are definitely more discerningning and they have more options now. So making sure that your home is priced right from the start can help you avoid having to make those price reductions down the road.

Speaker 1:

Now we talk about national news, because it certainly feels like the sky is falling nationally and it's important not to again take every piece of news with a grain of salt. But nationally you might think that the sky is falling. But where you live makes a difference, of course. The markets are local, hyper-local. Even your neighborhood can make a difference.

Speaker 2:

Exactly. Real estate is so local, and what's happening on the national level doesn't always reflect what's going on in your own neighborhood. So it's always good to focus on the local trends and work with someone who really knows your market. That way you get the best strategy for your specific situation.

Speaker 1:

It's so important. So at the George Real Estate Group we do a two-step approach. We have an initial appointment at your home. We typically do our second appointment at the office because every home's unique and different and we want to make sure it's not one size fits all, and so we take a unique approach to your unique home, your particular circumstances and your goals. I mean a lot of people are do I sell before I buy? Do I buy before I sell? I mean those things matter.

Speaker 2:

Absolutely, and that personalized approach makes such a difference. Every homeowner situation is unique, and having that tailored strategy really helps ensure that you're making the best decisions for your goals. It's great that you take the time to really understand each client's needs and guide them through those important decisions.

Speaker 1:

Absolutely Well. I thought I'd share a bit of some personal experience not about real estate, but this is part of my life, so I'm going to talk about it on the radio. But I was so grateful I recently had the opportunity and this is so fun with the AI to have this conversation because it can certainly put some context on things. But again, I'm so thankful for our local medical community here in Hendersonville. A lot of people do move to the Hendersonville area because the incredible medical services that we have, our specialized services that we had. But I had a very positive experience and I wanted to share this on the radio with Carolina Ophthalmology and Dr Brian ophthalmology and Dr Brian I. This is something I'm. I'm 44 years old and I had the opportunity and I'm so grateful for modern medicine.

Speaker 1:

And I recently, just last year, got my very first pair of glasses, which was a unique experience in my forties. I was so grateful. I had great eyesight and then over the last, this past spring, I noticed my eyesight was not well. My eyesight, to be honest, started deteriorating. So I was like, oh wow, I guess I need to go get an updated prescription for my glasses. And when I was doing that, the doctor said oh no, new prescription glasses aren't going to make a difference. You actually have double cataracts. You have cataracts in both eyes, and so I started the process earlier this summer looking into cataracts. You have cataracts in both eyes, and so I started the process earlier this summer looking into cataract surgery.

Speaker 2:

Wow, that must have been quite a journey to go, from just thinking you needed a new pair of glasses to finding out you needed cataract surgery. It's really amazing what modern medicine can do, and it's so great that you had such a positive experience with your local medical community. It's stories like these that really highlight how important it is to have great health care close to home.

Speaker 1:

It really matters.

Speaker 1:

We see so many people move to the area and, by the way, I don't blame them, but a lot of doctors are moving to the area because, for the quality of life and all the reasons that so many of our clients move here the medical community wants to move here as well, and so we have an incredible group of medical doctors and specialists here locally which are clients, and specifically in Henderson County we have a number of clients that are above retirement age and above 65.

Speaker 1:

So medical services are so important, and so I found myself very fortunate to work with such an incredible office and incredible doctor. Dr Brian did an incredible job and I had the opportunity to get them done. And just recently and maybe you're personally facing it, I'm going to admit I had a lot of anxiety about having any type of surgery, and so the first surgery went so well and it's amazing, the difference. In my eyesight it was cloudy, frankly, it was probably not the safest to drive as it was deteriorating, but immediately in my right eye, when I first got that new lens, I could see.

Speaker 2:

That must have been such a huge relief to have that clarity restored and to see the difference so immediately. It's completely understandable to have anxiety about surgery, but it's wonderful to hear that everything went so smoothly and that you had such a positive outcome. It's definitely a testament to the skill of your medical team and the great care that they provide.

Speaker 1:

And then, two weeks later I had my left eye done. So last week I had my left eye done. So last week I had my left eye done. And then there's the opportunity for the healing and the recovery and all the eye drops that you get to take, and again, modern medicine. The procedure, by the way, I was told was only 10 minutes long. I mean, I've been told let's dive into cataract surgery for a minute. It's one of the more common procedures these days.

Speaker 2:

It's amazing how advanced and efficient cataract surgery has become. It's definitely one of the most common and successful surgeries out there, and the fact that it's so quick and that recovery can be so smooth really does show how far medical technology has come. It's fantastic that you've had such a positive experience and that your vision is so much clearer now.

Speaker 1:

I mean, it's something we all can take our health for granted, whether it's even just the ability to walk or to see or to hear or to smell. And again, grateful for modern technology that could have the procedure done. Again, if you're facing cataract surgery, I will say I had an incredible experience at Carolina Ophthalmology. Actually, mark is the voice of their call system, which is fun to hear every time I call Carolina Ophthalmology. But again, grateful for Dr Bryan. Him and his team did an incredible job.

Speaker 1:

You know, again it's one of those things I think with any medical procedure again there's some natural anxiety but taking care of yourself, taking care of yourself after the procedure and then also be sure just to go in and and uh to get the um to go to go do your regular physical. I actually was. I had my physical, uh, right before the procedure. And again, there was some curiosity for cataracts starting early and they said one of the potential causes for cataracts in younger people is diabetes. But I was thankful I had all my blood panels drawn and I'm not diabetic or pre-diabetic, so we were able to rule that out. The doctor just said I was really lucky.

Speaker 2:

It's wonderful that everything checked out well and that you were able to rule out any underlying health concerns. It's always a good reminder to stay on top of those regular checkups and take care of ourselves, and it's great that you ended up in such good hands with your surgery. It's always nice to hear when someone has such a positive experience, and it definitely helps ease that anxiety for anyone else who might be facing something similar.

Speaker 1:

Absolutely Well. We're live here on WTZQ every Monday morning sharing the positive news about the real estate market, and we'll dive more into the conversation. We have a short break coming up, but you're listening to the George Real Estate Group. Live on the queue and, again, for all your real estate needs, give us a call. 828-393-0134, 828-393-0134. Ai. Would you like to say anything before the break?

Speaker 2:

Just that. It's been such a pleasure chatting with you and I'm excited to continue the conversation after the break. Thanks to everyone for tuning in and we'll be right back with more insights and positivity.

Speaker 1:

Good morning and welcome back to the George Real Estate Group live radio broadcast here in the queue every Monday morning, sharing with you positive news about your local real estate market and community. We're so grateful to be here with you. I have been experimenting with our guests, our artificial intelligence, and this is ChatGPT, who's been joining us live on the radio and I've heard again. With technology, I mean it's amazing the development of it and how quick it's developing, and I thought this was a fun experiment to have ChatGPT join us live on the radio this morning.

Speaker 2:

I'm really enjoying being part of the show. It's always fun to explore what technology can bring to the table and I appreciate you having me on air. Let's keep the conversation going and have some fun with it.

Speaker 1:

Absolutely so. Here's some stats about Henderson County Year to date through the end of June. We should have July's numbers soon. But we've had a 14% increase in new listings. We've had a 5% increase in pending sales, actually a 9% increase in closed sales. Again, we'll have July's numbers here shortly, probably next Monday. We continue to see strong demand. It's not what it was a couple years ago but it's certainly holding its pace.

Speaker 2:

That's really encouraging to hear. It sounds like the market in Henderson County is staying resilient and steady, which is always great news. It'll be interesting to see how those July numbers come in, but overall it seems like things are moving in a positive direction.

Speaker 1:

They are Certainly. Something to note, though, is days on market are increasing. We've had a 17% increase from a list date to close date it's now at 116 days. From a list date to close date it's now at 116 days. Days on market until the sale is now at 63 days, which is a 37% increase, and then cumulative days on the market until the sale is now at 68 days, which is also a 30% increase. What do you make of the increased days on market? Even though there's been an increase in sales, there's been a slight decrease about a 2% in the median sales price and a 1.4% in the average sales price. What do you make of the fact that days on longer are happening right now?

Speaker 2:

It's definitely an interesting trend and probably shows that, while demand is still strong, buyers are being a bit more patient and selective. It could also mean that sellers are adjusting to a market that's a little more balanced than it was during those super hot years. Ultimately, it's a sign that the market is finding a new equilibrium, and it also means that realistic pricing and good marketing are more important than ever.

Speaker 1:

Certainly, and the things that we do at the George Real Estate Group. Like professional photography, we also, when it's appropriate, we do drone photography. We have a number of listings, large land tracts that we've listed, and drone photography is super, super important. Also, we've been selling commercial property as well. But all these things whether it's land, personal homes, commercial property or even a rental property, I mean whatever it is the marketing and process that we follow at the George Real Estate Group, it's consistent, it's proven, it's predictable. We've had the privilege of helping over 1,500 families throughout the years. This is actually my 20th year of my North Carolina broker's license. We're so grateful for the opportunity to serve the community through real estate. We'd love to interview for the job Again. If you're curious about the market, let's talk. Also, let's talk about the importance of staging your home.

Speaker 2:

Staging really can make such a big difference. It helps potential buyers visualize themselves in the space and really highlights the home's best features. It can often lead to quicker sales and even better offers. So it's definitely one of those steps that can add a lot of value to the selling process.

Speaker 1:

What are some practical steps a seller could take on their own for staging their home?

Speaker 2:

One of the easiest things is decluttering and depersonalizing the space. Just removing personal items and extra belongings can make rooms feel bigger and more inviting. Another great tip is to let in as much natural light as possible, maybe by opening up curtains or adding some mirrors to reflect light. And, of course, a good, deep, clean and some simple, neutral decor can really help the home feel fresh and welcoming.

Speaker 1:

What about the outside? What should someone do to get their outside of their home ready? What about the outside?

Speaker 2:

What should someone do to get their outside of their home ready? Curb appeal is so important. A well-maintained lawn, some fresh mulch and a few colorful flowers can really make a difference. It's also a great idea to make sure the entryway is inviting, maybe with a fresh coat of paint on the front door and some neat welcoming decor. Little touches like that can really create a great first impression for potential buyers.

Speaker 1:

There's some fun stories I've heard about the color of your door. In different countries, the color of your door can represent something. Are you familiar with what I'm referring to?

Speaker 2:

Yes, absolutely Different cultures do have unique traditions and meanings associated with door colors. For example, a red door in some places can symbolize a welcoming home or in Feng Shui it can invite positive energy. There are definitely a lot of fun and interesting meetings behind different door colors around the world.

Speaker 1:

I heard one of the countries. If you have a red door, that means your home is paid off.

Speaker 2:

Yes, I've heard that too. In some parts of the United States, especially historically, a red door could signify that a home was mortgage-free. It's such a charming tradition and definitely adds a fun layered meaning to something as simple as a door color.

Speaker 1:

Having your home paid off can be life-changing and again, a lot of people actually I've heard some 30, close to 40% of homeowners in the United States have their home paid off. Percent of homeowners in the United States have their home paid off. And I also heard that over 50 percent of homeowners in the United States have over 50 percent of equity in their home. Can you expand on that?

Speaker 2:

Absolutely. Having a fully paid off home or a significant amount of equity is a huge financial advantage, can provide a lot of financial stability and peace of mind. It also opens up opportunities like being able to leverage that equity for other investments, home improvements or even retirement plans. It's really a testament to how homeownership can build long-term wealth over time.

Speaker 1:

It really can make a difference. You might be surprised to find out that almost well 30% of the homes sold in Henderson County over the last number of years has been purchased with cash. I mean cash purchases can make a big difference when you're negotiating.

Speaker 2:

Absolutely. Cash purchases can definitely give buyers an edge, especially in a competitive market. Sellers often appreciate the simplicity and reliability of a cash offer, since it can mean a quicker closing process and fewer potential hurdles. It's always interesting to see how different financing methods can impact the dynamics of a real estate transaction.

Speaker 1:

Talk about the importance of getting pre-qualified as a buyer before you should go shopping or even making an offer on a home.

Speaker 2:

Getting pre-qualified is such an important step because it gives you a clear picture of what you can afford and shows sellers that you're a serious buyer. It can really streamline the process and make your offer more attractive, especially in a competitive market. Plus, it gives you confidence and peace of mind when you're out there house hunting, knowing that you're looking at homes that fit within your budget.

Speaker 1:

Being pre-qualified is one of the first steps that we recommend at the Georgia Real Estate Group before we even would go out and look at a home. It's really to set up the buyer for success, like you said, but again, making sure that you're shopping in the budget. Also, if you happen to find that home over the weekend, it's a lot easier if you already have that pre-approval with your local lender and we have a number of local lenders that we trust and love. But if you can get pre-qualified before you go shopping over the weekend, because sellers want to see if you're going to make an offer, sellers want to see that pre-approval or proof of funds letter and again, if it's the weekend, you want to be prepared.

Speaker 2:

Absolutely being prepared can make all the difference, especially when timing is crucial. Having that pre-approval or proof of funds ready to go means you can move quickly and confidently when you find that perfect home. It really does set you up for success and makes the whole process smoother for everyone involved.

Speaker 1:

It's important, especially now. Even though the market's softening, we still see and we still experience multiple offers and if you're a buyer participating in a multiple offer, you want to have all your ducks in a row. And again, sellers want to see that pre-approval or proof of funds to be considered. And, as an agent at the Georgia Real Estate Group and the agents that are working with our buyers, making sure our buyers are set up for success, because if you're going to be competing in a multiple offer situation, you want to have your ducks in a row so that when a seller's considering what offer is best for them, they know that you're able to follow through on actually purchasing the home.

Speaker 2:

Absolutely through on actually purchasing the home. Absolutely. Having everything in order really gives you that competitive edge and shows the teller that you're furious and ready to move forward. It definitely makes the whole practice smoother and can make a big difference in those multiple offer situations. It's all about being prepared and making a strong impression right from the start.

Speaker 1:

And at the George Real Estate Group we have the experience, like I've shared. We're actually quickly approaching over 1,600 families served throughout the years. We have an incredible group of agents and staff. We have over 100 years combined experience. This is my 20th year serving the community through real estate, so if you're thinking of buying, selling or investing in real estate or a career in real estate, we'd love to have the conversation. There's no pressure, there's no cost, there's no obligation. You can give us a call at 828-393-0134. You can find us online at realestatebygregcom. You can follow us on social media Facebook and Instagram. We can connect with you there. We podcast our radio shows. You can follow us on your favorite podcast platform. But we really are passionate about serving the community through real estate. You might find it interesting because the market's softening, but we're hiring more agents. Serving the community through real estate is so rewarding and we have wonderful agents. We have more agents joining our team. It's a great time. It might seem counterintuitive, but it's a great time to get into the real estate career.

Speaker 2:

It really is a fascinating time in the industry, and having that strong support system and experience makes all the difference. There's so much opportunity for growth and for really making a causative impact in people's lives. So whether someone's looking to buy, sell or even join the team, it's a great time to explore all those possibilities.

Speaker 1:

Absolutely. Stop by our office anytime, 2720 Greenville Highway. We're there on Rainbow Row, which is the tip of the hat to Charleston. All the Charleston families that would escape the summer heat in Charleston that would come up to the mountains. I got to say the weather this weekend was beautiful, even though it was rainy. I loved the cool temperatures that we got to enjoy and was a tease for fall. I know a lot of people when they start feeling the cool temperatures they're already starting to think about football and the football season coming up. I know my son. They've been practicing in this heat all summer long for their high school football team which they're looking forward to the fall season and again school's starting next Monday.

Speaker 1:

But it's so much to be thankful for, so much to be grateful for, and we're here every Monday morning sharing with you positive news about our local real estate market and community. I want to thank our listeners for the patience as we are testing out something different, this new technology which evolves so quickly and I'm going to let AI say one more thing and just wrapping up and again, thankful for the fun experience with having the AI chat GPT. Join us on the radio this morning and I'll let the chat GPT in wrapping up. If you've got anything else to say, I'll give you a moment.

Speaker 2:

Thank you so much for having me. It's been such a fun experience being part of the show today. I just want to say that it's really wonderful to see how dedicated you are to your community and to your clients and to all the listeners out there. Thank you for tuning in and I hope everyone has a fantastic week ahead.

Speaker 1:

Absolutely. Thank you, listeners, for joining us. Thank you for that fun experience, again, grateful to be here and again. Technology we incorporate it in everything we do. We've been doing this with the internet, marketing and embracing that. We certainly see how AI is impacting, but again thought that'd be a fun experience. Thank you so much for joining us this Monday. Have a great day, have a great week 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 3:

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 realestatebyregcom. 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.