George Real Estate Group Radio Broadcast

Real Estate Reality Check: Navigating Today's Shifting Market

• George Real Estate Group

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The sky isn't falling in Western North Carolina real estate—despite what some headlines might have you believe. With over 1,500 single-family homes sold in Henderson County alone over the past year, our market remains active and healthy, though certainly shifting in important ways.

Today, Henderson County sits at a 5.5-month housing supply, technically still a seller's market, but we've returned to more normal conditions where approximately 50% of homes are selling below asking price. This mirrors pre-pandemic patterns and signals the reset our market needed after years of unsustainable growth.

For sellers, this means strategic pricing has become critically important again. The first two weeks on market are now crucial—when serious buyers are actively looking and making decisions. Overpriced homes quickly lose momentum and visibility in today's more balanced environment.

Recent decreases in interest rates are creating new opportunities, with some rates returning to early 2024 levels. This expands buying power by making monthly payments more affordable and may qualify buyers who were previously priced out of the market. Sellers who understand these dynamics and prepare accordingly are still winning—even today.

We explore persistent real estate myths, like the belief that buyers need a 20% down payment (many programs offer 3-5% options) or that renting is always cheaper than buying (ignoring the equity-building power of mortgages and stability of fixed payments during inflation). We also discuss the significant tax advantages of homeownership, including the ability to exclude up to $250,000 in profit ($500,000 for married couples) from capital gains taxes when selling a primary residence.

Whether you're considering buying, selling, or investing in our beautiful Western North Carolina communities, having knowledgeable guidance matters more than ever in this transitioning market. Contact the George Real Estate Group at 828-393-0134 or visit realestatebygregcom to discuss your unique situation and goals.

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 in the queue every Monday morning, sharing with you positive news about your local real estate market and community. We're so thankful to be here with you on this September Monday. So much to be grateful for and trust you're doing well. Hope you had a wonderful weekend and we are here ready to go. There's a lot of news about the real estate market. We'll jump into what is out there. The interest rates have gotten some news because of the optimistic impact of the lower interest rates that the Fed interest rates, which then impact the treasury bond, which then impact the mortgage rates and again the impact that that has for our clients and sellers and buyers, and we'll jump into what that will mean and we'll jump into what's happening in the local real estate market here. And the news, certainly for a while, was saying the sky is falling, and we're going to put some context on that. The sky is not falling. The market is absolutely still healthy and moving. And is it a little softer? Yes, but it's certainly not. The sky is not falling.

Speaker 1:

If you're tuning in for the first time ever, the George Real Estate Group, we're located in Flat Rock. We're there on Rainbow Row. We serve all of Western North Carolina. We have an incredible group of agents and staff and team members ready to serve you with your real estate needs. It could be buying, selling or investing in real estate and it could be your personal home. It could be your personal home. It could be your investment property. It could be maybe some real estate that you inherited. It could be family real estate and there's dynamics with that too. So we've had the privilege and honor of serving over 1,600 families throughout the years. This is my 20th year of my North Carolina broker's license and if we can help you in any way with buying, selling or investing in real estate, or if you've thought about a career in real estate. We're growing, we're hiring more agents and so we'd love to have the conversation. You can find us online at realestatebygregcom. You can also follow us at georgerilestategroupradiocom. Like I said, stop by our office and Flat Rocks, say hello. You can call us directly at 828-393-0134, 828-393-0134. And follow us on social media Facebook and Instagram and we podcast all of our radio shows. You can find us on your favorite podcast platform.

Speaker 1:

So what is happening in the real estate market? I mean, like I shared with you, that the market's softening and that certainly has some impacts. And with the news over at the end of the week last year, last week, with the 30-year fixed rate falling at the end of the week last year and it is, I think I saw one of the numbers. It was back down to some 2,024 levels, which is a big deal and certainly gives buyers more options, and we'll check in as to what that can do. But specifically in Henderson County, in the last 12 months in Henderson County there's been over 1,500 single-family homes sold. This does not include condos or land or townhomes. We certainly study those segments of the market, but we use the single-family homes, in my opinion, as the barometer of what's going on. But in the last 12 months we've been averaging 125 single-family homes a month selling. As of this morning, there's currently 698 available homes on the market. We have a five-and-a and a half month supply.

Speaker 1:

Now what does that mean? A six month supply is considered a balanced market. Less than six months is a seller's market. More than six months is a buyer's market. When you hear people talking about what type of market is it? Now I'm sharing with you about Henderson County 125 homes a month selling and you divide that into the 698 available, we have a five and a half month supply.

Speaker 1:

We could technically say we're in a seller's market in Henderson County that had five homes available. Well, guess what? If there was five homes a month selling, it would mean it had a one-month supply. If the neighborhood was only averaging one home a month selling and there was five homes available, that means there would be a five-month supply. If the neighborhood had 10 homes available and they were only averaging one home a month selling, it would mean it's a 10-month supply. Then would be a buyer's market. So you know, every neighborhood, every price point, every community has what's called an absorption rate, where we determine in each price segment, is it a buyer's market, is it a seller's market? In each neighborhood, we can dive down and say is this neighborhood in a seller's market or a buyer's market? In each neighborhood, we can dive down and say is this neighborhood in a seller's market or a buyer's market? And so you can imagine the impact that it has on what buyers can do or not, or the flexibility, because, guess what, if it's a seller's market, sellers aren't going to have to come off their price as much.

Speaker 1:

Although, because of the soft, softening market in the, in the market that we're shifting into this is on our most recent blog posts 50% of homes are selling for under the asking price, and because it's? It's because of the supply and demand, so it's not exactly. It's, again, not exactly bad news. It might feel like it, but right now, about 50% of homes in the market are selling for less than their asking price, according from the latest data for cotality. The wild run-up over the last few years was never going to be sustainable. The housing market needed a reset and the data shows that's exactly what's happening right now. So the graph on our blog shows from Zillow how the trend has shifted over time. You can see this on our blog post.

Speaker 1:

Between 2018 and 2019, 50 to 55% of homes sold under the asking. That was the normal. That was pre-COVID. 2021, 2022, only 25% sold under asking and that was because of the low interest rates, the intense buyer demand. And here we are now in 2025, 50% of homes are selling below the asking price. 2025, 50% of homes are selling below the asking price and we were seeing in the month of July that number actually got down to 93, 94% of the asking price. Now, that was just the month of July. If you were to look over the last 12 months, that number is closer to 97, 98% of asking.

Speaker 1:

So it's not like sellers are discounting their homes significantly, but because of the softening market, it's given buyers more flexibility. And certainly, why is this important to know? A few years ago, you could overprice your house and still get swarmed with buyers and offers, but now, like I said, buyers have more options and, frankly, with the interest rates where they were and again it's still challenging Buyers felt less urgency. They had tighter budgets and that's where these new interest rates coming down can impact our market. But the thing is, today you're asking price can make or break your sale, especially right out of the gate.

Speaker 1:

So the first two weeks on the market are the most important window, because that's when the most serious buyers are actually. They're paying attention, they're looking, they're watching for homes, they're ready to write up an offer. And so when new homes hit the market, you know, and especially when you miss your price during that crucial period and your sale can grind to a halt, buyers will look right past it. You'll get lost. If there's 10 other homes in your price range and your size, home and location and your price, just like everyone else, you're going to. You're going to miss out, buyers are going to. You're just going to get lost in the noise, and so buyers can look right past it. And if you're listing, once it sits in the market long enough you might've heard the word it can go stale, and so it's hard to sell for your asking price once it goes stale.

Speaker 1:

So, sellers, you know this is the thing, it's the traditionally and Traditionally it's interesting. This is not how this works, but a lot of sellers are like I want to build in negotiating room. I don't want to just hold my price. I want buyers to be able to feel like they're getting a deal. Buyers know that they're getting a deal and it's interesting, it's psychological, you would think. Why would buyers pay full price or even over asking price? It's because they know it's a deal, just like they know it's not a deal when you overprice it, especially as buyers watch you do price cuts and then chase the market down. You sit on the market a long time, but homeowners who understand what's happening are still winning even today. So because that stat about 50% of homes under asking also means that the other half guess what are actually selling above or at their asking price, as long as they price it correctly from the start.

Speaker 1:

Of course, there's things you have to do. You have to get your home ready. You have to set yourself up for success. You have to prep your home Getting ahead of the repairs, any maintenance touch-ups before you go on the market. Even if your house looks great, you'll have a better chance of selling at or over asking price when you prepare your home for sale. Also, pricing strategically from day one. Don't rely on what nearby homes are listed for. You need to look at what other homes have sold for and that's where working with a real estate professional to do the research to do the data and pricing your home based on what things have sold for, not what your neighbor or competition are asking.

Speaker 1:

And then, finally, you know, stay flexible. You know, be ready to negotiate. You know, are you missing out on future opportunities because of how you're handling your current one? And it doesn't always mean you have to be flexible on the price. Maybe you need to be flexible on repairs or closing costs or something else, but today's buyers are serious and because it's softening, that's where buyers have had more options and they can negotiate.

Speaker 1:

So if you want to be, if you want your house to be the one that sells for at or even more than you're asking price, you know you want to make a plan. You want to work with a real estate professional and today's market is not the same one we saw a few years ago and that's why you need to work with a real estate professional to help you navigate through the nuances of today. You don't want to fall behind in this market. So buyers, they're out there. I shared with you earlier there's 125 single family homes a month selling in Henderson County. The market's still moving. The sky is not falling and as a seller, you still have to be strategic in getting your house ready to sell and pricing it correctly. And it doesn't mean you're giving it away. You're still going to get what the market will bear. You're still going to get top dollar, and we can help navigate through that your unique situation, your unique home.

Speaker 1:

It could be a really positive reason why you're buying or selling. It could be a very challenging reason. Whatever it is, we want to walk alongside. Ultimately, our job is to advocate for you and to help you and to navigate through whatever it could be. It could be a very celebratory reason why you're buying and selling. It could be a very somber moment, and we don't take that lightly. And so we're here to walk alongside. We're going to help you. We're here to advocate for you and to facilitate what your decision is, what your goal is, what your dreams are, and we can help make that come true and help you accomplish what your choice is. It's your choice to do any of this, and so we provide the knowledge and the information and, ultimately, we're here to advocate for you and to give you clarity so you can decide what's right for you.

Speaker 1:

It's such a privilege and honor to serve the community through real estate. We have an incredible team in place. We're helping our clients whether they're planning ahead for their estate. We're helping our clients whether they're maybe downsizing or right-sizing or upsizing or moving into that retirement community. We're helping our clients navigate through hard times. It's just life is and can be. Life is beautiful and it also can be challenging, and so we all have those seasons of life and so, no matter what it is, there's no judgment. We're here to provide clarity and information and to come alongside you and help you navigate through that. You can give us a call directly at 828-393-0134, 828-393-0134. You can find us online at realestatebygregcom. You can also connect with us on social media.

Speaker 1:

Like I shared, we podcast on our radio shows. You can find that on your favorite podcast platform, but we're here every Monday morning sharing with you positive news about the market. The interest rates are coming down. It's going to have an impact on increased buyer demand. These lower rates are going to reduce the cost of borrowing, so monthly mortgage payments can become more affordable. So buyers who were previously priced out may now qualify for financing. Also, existing buyers they might stretch their budgets further now shopping for higher-priced homes since their payment stays manageable. So the market is so fascinating right now, especially with these interest rates coming down, and we'll dive into how that can impact. But you're listening to the Georgia Real Estate Group live radio broadcast here in the queue, so stay tuned in. We're going to take a short break and 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 Q every Monday morning sharing with you positive news about the local real estate marketing community.

Speaker 1:

I guess, no matter what again, your unique situation, your unique home, your desires, again how that is impacted through real estate and it could be your personal home and things involved with that. It could be your investment real estate, it could be your investment portfolio with real estate, it could be an estate you're dealing with. I mean, there's so many reasons why and when we speak with people and I don't pretend to say that we've seen it all, but I mean, after helping over 1,600 families, we've certainly seen a lot and we continue to learn every single day, every single week, in learning as we help our clients and we figure things out and we bring a lot of experience to the table and we bring a lot of knowledge and market information and ability to solve problems and to help our clients navigate through whatever it might be, and we focus on we're so focused on our clients and doing what's right for them and doing what's best for them and ultimately giving our clients the information to decide what's right to do. I was reminded of a quote that I saw this weekend. That just I'd seen it before, but reminded it over the weekend. But the quote is a man who chases two rabbits will catch neither, and it can carry a lot of weight in both business and in life. I mean, like in the ultimate message, the main message is about focus. If you split your energy between two competing goals, you can dilute your efforts, just like a hunter can't chase two rabbits at once, because they'll dart in different directions. You can't effectively pursue two priorities that require your full attention. And this can apply to real estate. I see it where real estate agents are trying to help people do property management and then agents that are also trying to do property sales, real estate sales. If an agent tries to market them as both a property manager and a sales expert, they could confuse clients, and actually that's something that we work with another property manager that all he does is property management, just like all we do, our real estate sales, and so, you know, an agent that's doing both bad, but because they spread themselves too thin, jumping from one project to another without fully developing any of them. Again the quote a man who chases two rabbits will catch neither.

Speaker 1:

It's also, you know, in today's world of multitasking, you know, I think this proverb hits even harder. You know, our phones, social media, constant notifications it's like chasing dozens of rabbits at once. And so the reality is the results it can be burnout, stress and very, very little meaningful progress. So, you know, and it could be your personal life it's not just about business and it could be, you know, your health, it could be relationships, it could be, you know your health, it could be relationships, it could be, you know, personal goals, I mean like, and so again, this, this can apply to so many things. So, I guess, ultimately, decide what your one rabbit is and it's funny to say that but decide what really matters.

Speaker 1:

Focus on that one thing, whether it's, you know, helping your next client, whether it's maybe it's getting healthy, maybe it's building stronger relationships, and then, and then commit, and then it's taking those next steps and moving forward, you know, to ultimately hitting that goal, cause if you're chasing two goals at the same time, you rarely will get either, and so you're wasting your energy zigzagging you'll end up again either, and so you're wasting your energy zigzagging you'll end up again empty handed. So just something to think about. Again I came across. I was like, oh, I was. I was like this is such a good reminder on life and what we focus on and how we, especially in our real estate business, helping people navigate through so much, and so we focus on real estate sales. We don't do property management.

Speaker 1:

So, again, if you're curious what your home is worth, we're meeting every single week with clients that are curious what is our home worth? And it could be. Maybe it's not what my home is worth. It's here's my situation. I'm not sure how to navigate through this. Do I sell and then buy, or do I need to buy and then sell? What do I qualify for?

Speaker 1:

And this is where we work with so many professionals. We work with real estate lenders, we work with our attorneys, we work with our property inspectors and home inspectors, and septic and well and radon and survey and appraisers. There's so many pieces of the puzzle that we bring together to ultimately help our clients navigate through. You know the buying and selling process, and it's not just what is my home worth. You're in control of what this looks like.

Speaker 1:

Maybe you want to navigate and negotiate staying in your home after the sale. You can, and it is possible to negotiate that. That's called a possession after closing. You can also take possession, potentially of the next home that you buy early. I mean and this is where having a real estate professional there to navigate through and to accomplish what you want to accomplish you might think to yourself what I want is impossible. Well, until we have the conversation, until we look at all the options, you will not know unless you put it out there and we have the conversation. There's so many situations. Maybe in the end, after we discuss everything, you come to the conclusion you need to stay in your home. That is absolutely a win for us, because we've done our job when we provide clarity for our clients so they can decide what's right for them. You don't want to have any regrets. You don't want to have any doubts. You want to have all the information so, as a client, you can decide what's right for you and depending on your situation.

Speaker 1:

I mean one of the things with real estate that a lot of people don't realize is the tax advantage of your personal home. When you have lived in your home two out of a five-year period as your primary home, when you sell it as an individual, the first $250,000 of profit. That's not $250,000 of the sale, it's the first $250,000 of profit. After you take out what you paid for the home, your expenses, you get that back and then the first $250,000 of profit is tax-free If you've lived in the home two out of a five-year period. If you're married, it's $500,000. These are significant tax advantages for your home and owning a home and the advantages of home ownership. So all of these things and this is just one piece of the puzzle as we navigate through with our clients, helping our clients navigate through the selling process and advising our clients and advising what's right for them so they can decide what's right for them. Also, we're advising our buyers.

Speaker 1:

I mean, a lot of buyers have this perception you have to have 20% down to buy a house. There's a lot of programs actually that allow 3% to 5% down and then in some cases, like VA or USDA, even allow 0% down. Another interesting thing that buyers think is renting is always cheaper than buying. You know, while rent and that's not true while rent may seem lower short term, the mortgage payments actually help you as a buyer build equity, and rents usually go up every year versus a fixed mortgage rate locks in your payment, which is significant in the environment of inflation, where you know for certain that your house payment is going to stay the same. That's a big deal.

Speaker 1:

Also, another myth that buyers have is you have to have perfect credit to qualify, and that's not true either. There's different loan programs depending on your credit score. You do have to have credit, but loan officers that we work with can help you improve your credit, can help you find out what programs qualify for. Again, buyers have options. And then, ultimately, there's a myth that the buyers think the process is too complicated. And with the right support, with the right real estate agent and lender, the process is step by step, and so we provide through our buyer consultations and walk alongside with our buyers. We simplify everything, ultimately helping our clients navigate through that process.

Speaker 1:

So you know again, buying a home is not just about the money. It's the stability, the pride, the generational wealth. A home becomes part of your family's legacy. It matters the impact on the community. I mean generational wealth Home ownership builds a foundation for children and grandchildren. Family priorities I mean these are where, again, what your family's priorities are and how home ownership impacts that, the stability the home provides, a safe place to grow, roots and thrive as a family. I mean there's so many impacts of home ownership that come into play. It's the intangibles that matter so much.

Speaker 1:

And again, working with a real estate agent to help navigate through the contract, the nuances of the market, working with the lenders and the attorneys all those pieces of the puzzle that people find surprising, I mean one of the most surprising thing I think I hear all the time when people are buying and selling real estate in North Carolina is homes are sold as is. I mean it is an as-is state. It doesn't mean a buyer is required to buy it, but it doesn't mean a seller is obligated to fix anything. Now, sellers have obligations of communicating material facts and so does the real estate agent, but buyers can do their investigation. Buyers get to decide on the condition if they want to negotiate, to do repairs, or if they want to walk away or if they want to buy it. I mean there's so many nuances of our contract, that having the real estate agent that understands these nuances, that can advise you, can consult you and can help you walk through, ultimately, to a successful purchase.

Speaker 1:

I will say this one of the biggest red flags for real estate agents. If you're a consumer out there and you start jumping into a conversation with a real estate agent and they do not present you with what's called the brochure of working with a real estate agent, that should be your biggest red flag. Just because someone has a real estate license doesn't mean they're actually practicing or have any experience or even selling any homes. But one of the first litmus tests as a consumer if you're talking with a real estate agent, one of the first obligations that a real estate agent has to you, the consumer and this is through the North Carolina Real Estate Commission the agent is supposed to pause you from sharing any confidential information before you have the conversation and before the agent discloses and shares with you what's called the working with the real estate agent brochure. It explains the consumer protection. It explains if the agent's representing the buyer. It explains if the agent's representing the seller. It also explains one of the dynamics of what's allowed and certainly only by your consent, is dual agency. So one of the things that I would encourage you if you're a client, if you're a potential buyer, if you're a potential seller and you're reaching out to a real estate agent, one of the very first things that agent needs to do with you is share with you and explain and give to you the brochure on working with a real estate agent. So one of the biggest red flags, if you engage with a real estate agent and they do not share that with you, that is certainly one of the things that you need to address and, again, just be aware of. So these are the things that we do.

Speaker 1:

We're here to educate, we're here to facilitate. We are working with buyers and sellers every single day. If, in regards to your personal home, if you're thinking of buying and selling, if you're navigating through your investment properties and your real estate holdings and maybe how that plays out with your estate and with your heirs and how that might impact you, we're working with our commercial clients and 1031 exchanges and tax strategies. I mean from everything from your personal home, which we have tremendous experience with, to your real estate investment properties, to your tax strategies. We work with tax professionals. We work with our attorneys. We work with the lenders. Again, it's in concert with everybody. It's not just we're the hub and we are helping our clients navigate through what's ultimately right for them and providing clarity and information for our clients to make the decision. It's a step-by-step journey. We understand the process and setting expectations and the timelines, but if we can help you in any way, it's a privilege and honor to serve the community through real estate.

Speaker 1:

We're in Flat Rock. Stop by and visit us on Rainbow Row. We're right next to the dangerous Flat Rock Bakery, the dangerous Hubba Hubba Barbecue and all those great local restaurants and businesses and stop by and say hello. Find us online at realestatebygregcom. You can also call us directly at 828-393-0134. And then, of course, follow us on social media and follow us on Facebook and Instagram. But we love serving the community through real estate, but give us a call and we're here every Monday morning. So have a great day, have a great week and we'll see you next week.

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.