George Real Estate Group Radio Broadcast

Facing Storms, Building Legacies: Real Estate, Taxes, and the Plan That Protects Your Family

• George Real Estate Group

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Storms don’t ask permission. They roll in—market shifts, aging rentals, family land decisions, taxes—and suddenly the “later” you’ve promised yourself is here. We use a simple lens to cut through the noise: stop running from the hard choices and face them with a plan that protects your people, your income, and your values.

We start with the real numbers in Henderson County, then zoom out to the choices that matter most: how to reposition appreciated property without handing a giant check to the IRS, how to refresh depreciation and simplify management with 1031 exchanges and Delaware Statutory Trusts, and how to turn idle land into purpose-driven income while honoring conservation goals. We share real scenarios where “do nothing” quietly cost owners more—higher taxes, bigger repairs, fewer options—and show how a coordinated team of a real estate broker, CPA, estate attorney, and financial advisor can reverse that equation.

Family harmony takes center stage. Real estate isn’t liquid, and equal isn’t always fair when one heir wants cash and another wants to hold. We walk through tools that convert bricks into shares so heirs can choose income or liquidity without a fight. We also break down care-funding strategies for right-sizing or moving to a retirement community—creating monthly income and preserving principal instead of triggering avoidable taxes. Along the way, we talk charitable giving, donor-advised funds, and trusts that reduce tax drag and amplify impact so your legacy supports both your family and the causes you love.

If you don’t want Uncle Sam to be your biggest heir, now is the time to act. Subscribe, share this with someone who needs clarity, and leave a review with the question you want us to tackle next. Ready to map your plan with a team that works in sync? Call 828-393-0134 or visit realestatebygreg.com and let’s be the bull together.

SPEAKER_01:

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 George Real Estate Group Radio.com for more information. Good morning and welcome to the George Real Estate Group Live Radio Broadcast here on WHKP every Thursday morning, sharing with you positive news about your local real estate marketing community. We're so grateful to be here with you. The very first show of October for us. October's here. Christmas is around the corner, but I know we got to get through Halloween and Thanksgiving first. The New Year's is coming up as well. Time flies when you're having fun. And if you're tuning in for the first time ever, the George Rosley Group, we're located in Flat Rock. We serve all of Western North Carolina and the upstate. We are we're passionate about helping our clients navigate through life. It could be a really positive reason why you're buying or selling, could be a challenging reason. We're also helping our clients plan ahead for the future, thinking ahead for their children and their grandchildren and their estates. And we've been helping our clients navigate through that with their uh tax and their financial advisors and their attorneys. And we we it's a team ultimately coming together to help our clients navigate through whatever uh life might be throwing at you. And again, being very strategic, and we're going to talk about some of those things. If you're tuning in for the first time ever, the George Rolls Day group are located in Flat Rock. You can find us online at realestatebygreg.com. You can stop in our office and say hello. We're in the dangerous location next to the Flat Rock Bakery, Hubba Hubba Barbecue, Campfire Grill, uh the Wrinkled Egg, Hubaloo, all those great local and independent businesses and restaurants. The George Rollstead group, uh, we serve all of West North Carolina. We have incredible agents, incredible staff. We love helping our clients. We're enthusiastic. We are in in they say, uh, I mean, we're working. We work every single day. Real estate's 24-7, but when you love what you're doing, it doesn't feel like work, and we're grateful that we've found our our niche and ultimately serving our clients and and understanding what our clients need and and facing things and having candid conversations. The market's the market, the interest rates are the interest rates, and the economy is the economy. And the life happens, therefore, real estate happens. I mean, just a quick snapshot. In the last 12 months in Henderson County, we're averaging some hundred and twenty-six single-family homes a month selling. Uh, we're our average price is at 533, and there's still just some you know, four or five months of inventory on the market. You know, so your your current market conditions, I mean, it is it's we've had more homes sell. Actually, I apologize. That number's 129 single-family homes a month selling now on average. Last year's 125, 126. There's been more homes selling in the last 12 months than the previous 12 months. And that's in light of you, if you I mean, we're still reminiscing and thinking, and and again, so much recovery still happening from you know the one-year anniversary from Helene, and and there was such a pause there with real estate. But I mean, real estate's happening, and we've had more homes done in the last 12 months than the previous 12 months. In the last seven days alone, there's been 41 new listings. This is the highest number I think I've seen this in a seven-day period. 94 price drops. 94 price drops in the last seven days in Henderson County. There's been 49 homes go under contract, 52 homes closed. Again, this is what we see towards the end of the last seven days, you know, towards the end of the month. But talk about facing things, and I've shared this parable before, but you know, out if you've ever visited Colorado, and in a lot of people think of Colorado with the mountains, but there's also the plains of Colorado. And if you've I I've done this many times, a lot of times was in college. I'd drive from uh you know the east coast, drive all the way across country to the west coast, but you go through Kansas and then you have the plains of Colorado. But you know, out of the plains of Colorado, uh and this storms off the Rocky Mountains, these these storms, the storms just come in off the Rocky Mountains with no warning. And so if you've ever been caught in one, you know they come fast, they're fierce, and and frankly, they can overwhelm you. And now, here's the most fascinating thing about this: how the animals react. Cows versus bulls react to these storms completely different. Cows actually run away from the storm, but since the storm is moving in the same direction, they actually stay in it longer, they tire themselves out, and the reality is they suffer longer because they were running away from it. But bulls, you know, sometimes uh we hear this story told with bisons, they do something remarkable. They turn into the storm, they actually charge headfirst into it because they move against the storm, they cut through it faster, and get to the clear skies sooner. Now think about it for a second. It's the same storm, the same wind, the same rain, the difference isn't the storm, it's all in the response. And isn't that life? We don't get to choose whether the storms come, whether it's that health scare, a financial problem, an estate planning decision, or even figuring out how to leave your land or assets to your children. The storm will come, and what we get to choose is whether we face it like the cow or like the bull. And so just everyday life, I mean, and this could be a personal challenge. Many of us try to outrun the uncomfortable things in life, the difficult conversation, that overdue doctor's appointment, the stack of bills. But like the cow, running often just makes the storm last longer. Facing it, making the call, setting the appointment, talking to your kids gets you through it quicker. Finances, and how about our finances? And for a lot of our listeners, these storms can look like financial questions. You got baby boomers sitting on property that's been fully depreciated. You got uh you know clients, you get you have people with land who don't know the best way to pass it on. You might be thinking, I don't want to burden my kids with this mess, and sometimes Uncle Sam just is waiting on the other side of the storm. So again, avoiding these decisions, avoiding talking to a CPA, an estate turner, a state attorney, a real estate broker, it keeps you in the storm longer. But when you're facing it with the right team, you know, that's how you charge through the storm and can come out stronger. And so at the end of the day, the storms don't last forever, but how you go through them determines the story you leave behind. You know, so are you leaving your family a legacy of courage, wisdom, and preparation, or are you leaving them a storm that they'll have to face with you? So the the thought or challenge for today is think about what storms you might be trying to outrun. You know, where in your life are you playing the cow and what would it look like to turn, face the wind, charge through the rain like the bull? And so if you're think if you're listening and you're thinking about real estate, you're thinking about retirement or how to pass on your land and your investments, this is where having a team matters. And it's not easy to face these storms alone. It's complicated and it can even be overwhelming, you know. But our team is educated in these areas. We know about things like 1031 exchanges, Delaware Statutory Trusts, and other strategies that can help you move forward instead of staying stuck under the cloud. So again, the storms will come. We can't stop them, but we get to decide what we do. And so, are you running like a cow or charging like the bull? And so, if you're listening today, then my encouragement is today be the bull, face a storm, get through it faster, and come out on the other side of it and clear for it. This is this is real life. This is your life. You get to decide what you do with it, you get to decide how you face things. And again, leaving your family with a legacy versus a challenge, it can be significant. And here's a real conversation we have frequently. It maybe you don't have family you want to leave anything to. Maybe you want to think about the legacy of maybe you want to give to your church, maybe you want to give to your to your favorite nonprofit, maybe you want to give back to the community. It's not about necessarily leaving it to your family. I mean, these are just reality um conversations that we have, and not doing anything is is doing something, and and you don't want to be you don't you don't want to not take action. You don't want to not not do something um because it because it matters what you do and the choices you make. And I mean, there's actually a hidden cost. There's a hidden cost of doing nothing. You know, some people think I'll just wait, I'll figure it out later. But the truth is doing nothing is still making a decision. I mean, for example, some of our clients that own rental property or investment properties, you know, there was an owner that had a property that was fully depreciated. It was costing more in repairs than it made, and they just said, I'll hold on to it a little bit longer, and then five years later the property needed even more work and their options were limited. Versus waiting often means higher taxes, higher maintenance, and fewer choices later. You know, if you do some proactive planning, you can refresh your depreciation, you can reposition into an income-producing property, and you can keep more of your wealth intact. You know, so don't let someday steal your options. The the best time to plan is before you feel you feel forced. And not to misquote, but with the the quote of you know, the best time to plant a tree was 20 years ago, the next best time is today. Again, you can take action. You can take you can take action today. It your decisions matter. Another conversation we have all the time is you know, I don't want to burden my kids. You know, how many of you have said this? I don't want to burden my kids. You've worked hard your whole life, you've built something valuable, and the last thing you want is for your kids to fight about, to fight about it when you're gone. You know, these there's this is real life. I mean, we there's a family we know here in West North Carolina that had a beautiful piece of property, and truth is the land had been in the family for decades, and when the parents passed, one of the children wanted to keep the land and build on it. The other child said, No way, I want my share in cash. And so what was meant to be a blessing suddenly became a point of conflict. And of course, you can imagine emotions ran high, lawyers got involved, and that's not what the parents wanted at all. They just wanted it to be fair, and so this happens more often than you think. You know, real estate is wonderful, you know, it's one of the limitations though, and it again, there's a place for the timing and all this, you know, it's not liquid like a bank account. So you can't just cut it in half and give and hand each you know child a portion of it. And so without a plan, it can cause division at the exact time you want unity. So there are tools that can make it easier. There are tax strategies, there's tax laws, there are ways that you can actually turn real estate into shares. So if one child wants to cash out while the other holds on to the investment, they can. There's also uh Delaware statutory trusts that can split ownership so the heirs can can all get a share of the income without managing tenants or selling the property outright. Uh, and we combine this with 1031 exchange to defer the taxes. Imagine deferring the taxes and making more money and paying less taxes, even on the more money made. These are realities that are possible. And so, again, you don't have to choose between being fair and keeping the peace. And so, with the right planning and team, you can actually do both. And again, if you're listening right now and you thought, I don't want my kids to fight over this, let's have a conversation. We can find a structure that passes your assets with peace, not problems. And again, this is strategically thinking. This is not the silo of you're talking to your attorney, you're talking to your accountant, you're talking to um your uh uh you know real estate, you're not you're not talking to you're not just talking to your financial advisor. All these we work in concert with all these professionals ultimately to help strategize for you. Another common conversation. Who's and this is a tough one? Who's your biggest heir going to be? Is it your kids? Is it your grandkids? Or is it Uncle Sam? And we've seen this play out. A family in Henderson County that owns several properties. When it came time to sell and pass things on, they hadn't planned ahead. Between capital gains, estate taxes, income taxes, almost 40% went to the government. 40%. Think about it, that's nearly half of a lifetime's work. Not going to the kids, not going to church, not going to the nonprofits and causes they cared about, but to Washington. And this isn't rare. You know, so with baby boomers holding over half the nation's wealth, much of it tied up in real estate, you know, the IRS is waiting, is waiting at the door. And this is the just the hard truth. Unless you have a strategy, the government may end up being your biggest heir. And so the solution is there are ways to keep more of what you've earned. We've done this through 1031 tax exchange exchanges. You defer the taxes when selling investment properties. We work, I've shared this before, DSTs and upreads. We create income streams while preserv preserving tax advantages. Charitable giving can actually reduce taxes while blessing the causes you cared about. And let me clarify: when I say giving 40% to the government, that's already on money you've already paid taxes on. You've already paid the taxes to acquire what you've acquired, and then there's even more taxes. I mean there's a better way. I mean, I I know people that I'd rather give away all my money than give a single penny to the government. And and here's the thing: we can actually help you uh do both. You can still make your income, you can reduce your taxes, you've you've worked too hard to let Uncle Sam walk away with the biggest slice. I mean, if you're listening and this hits a nerve, if you don't want the IRS to inherit more than your kids, you know, now's the time to plan. And we've been trained on all of this. We work with, like I said, it's not just these individuals, uh, which is common. Again, this is there's a better way. This is the in concert, the our CPAs and our estate attorneys and our financial advisors and real estate, we're working in together ultimately for a better plan, and it's how we can keep more of your legacy and your family where it belongs. Again, these are we are having these conversations every single day. We coordinate the team. I mean, we the and by the way, estate planning isn't just a one-size-fits-all. You know, there's the real estate, the taxes, the family dynamics, they all intersect. I mean, again, you don't need more meetings, you need a team. And again, that's where we come in to help line everything up so your plan actually works in the real world. I mean, this is just in the in the real world. Maybe you're thinking ahead, maybe you might need to be uh considering uh retirement living in a community. You know, there's a lot of uh retirement communities that require a large down payment plus the income for the monthly fee. And so, and our client thought she'd have to sell her home and pay the taxes. Instead, we showed her a way how real estate could actually fund her move without draining her savings. The number of people that are gonna be 85 by 2060 are gonna be tripled by 2060, and so demand for care is exploding and the costs rise every year. So there are again solutions for this. The thing is about these the the tax, the this the tax code, the taxes, they're they're written by the wealthy and to protect themselves, and now we're gonna put them to work for you. And so, again, our team, our estate attorneys, our financial advisors, our CPAs, and the our team consists of all of us uh and your real estate team. And again, this is not snake oil. This is these are tax codes and laws that exist, and so and unless you're utilizing them for you, it's it's taking advantage of you. And the thing is, we we want to protect what you've worked your entire life for. And it's not this is not just a real estate agent sharing with you, oh, what your home is worth, which we do, and we help you sell your home, which we do. This is a much bigger picture when we're working with your estate attorney, we're working with your financial advisor. We have financial advisors, we have tax strategists. This is a much bigger picture, and this is why we've positioned ourselves at the George Real Estate Group to help our clients, not just with their personal home, but it is part of the puzzle. And it could be your real estate investments, it could be your it could be your land that you own as a family. And so, again, they the again the the government's gonna take their money, and unless you use the tax code to your advantage, it's gonna take advantage of you. And so this is where we come in, and we've been training, and we've been working in this field, we've been working with an entire team to help you navigate through this. Again, you've worked too hard to give it all away. And again, wealth doesn't happen overnight, wealth builds slowly. The land, the rentals, the sweat equity, our clients were not born into it. And so when when we see 30, 40 percent go to taxes, it just doesn't sit right. So most wealth transfers lose a significant portion to taxes if not planned properly. And again, I not to not to be a broken record here, these are tax strategies we're working with. 1031 exchange, charitable giving, coordinated estate planning keeps more in your family. And then again, we're not just a real estate company, we're thinking critically and strategically to help you. You know, real estate isn't just about buying or selling your home, it's really about managing your wealth. And if you feel the same way that you've worked too hard just to hand it over, we should talk. Again, it's managing your wealth, it's thinking strategically. This is back to the beginning of the podcast of our radio show. This is being the bull running into the storm versus the cow running away from the storm. You know, it's it's in this again, the difference between being proactive versus reactive. It's the difference between, you know, understanding and being strategic. This this is generationally, this can change your family's future. And again, the scope of real estate isn't limited to just moving from one home to another, but it's using real estate to create generational wealth and using the tax code to your benefit to not pay taxes because you've already paid them. You had to pay money on the money that you you paid taxes on the money you you earned in order to buy the real estate. And again, the this is just being strategic with the with the tax legal tax code, legal tax laws to to your this is what people have been doing for for generations. Uh, and this is how the wealthy protect their their money. And this is not this is this is just this is accep this is accessible to you here in Henderson County, and again, through the strategic planning in our team, and again, we we can help. We'd love to help. You don't want to burden your kids, you don't want to outlive your money, you don't want to let Uncle Sam be your biggest heir. Again, these tax strategies are no longer just for the wealthy. This is for everyone to maximize your life's work and to plan ahead. And it's and it's really about creating freedom versus the stress, and we can reduce your stress, and this is where having a team in place to help you think through, advocate for you, and to be in your corner. And it and it and again, it's not just it's not about the money in the bottom, it's about the legacy, it's about the values, it's about the memories, it's about the impact. You know, and and and I've worked with families who want part of their estate to support their church, their local nonprofit. They want to leave a fingerprint on their community, not just the balance sheet. 33% of baby boomers focus on giving on causes they deeply care about. And again, if you if you want your property to tell a bigger story, let's talk about how it can bless both your family and your community. This is a much bigger picture. We you can tell we're passionate about this, we love this conversation. There's so much more here than just your home. Again, the market's the market. And by the way, we're the experts in the market. We study it, we're in it every single day. And the bigger conversation that we're helping our families with is the legacy. It's protecting your wealth, it's thinking ahead to the transition, it's thinking ahead with your with your real estate investments. It's thinking we are talking to so many families with land. The amount of land that we still have here in Henderson County, and by the way, I'm not saying, oh, we're gonna sell your land and it's gonna be developed. There are uh buyers out there that want to continue to keep the land agricultural. There are buyers out there that want to preserve the land, and they're gonna, they're they they those the the vacant land out there is a resource for our community, but here's the thing, though. A lot of people have held on to land because it was in the family, or maybe one day they thought they'd they'd build on it. But in the meantime, it's sitting there not providing income. It's like having a savings account with no interest. So the the land can be a biggest the one of the biggest gifts your family can utilize again, all the all these pieces of the puzzle. And I know you know it there's so much more than the market, the market's the market, the interest rates are the interest rates. And this is a much bigger conversation about your family, about the legacy, about how you want to plan ahead, facing the storm, not avoiding those conversations, leaning into it, helping your kids, planning ahead with your legacy. I mean, so many pieces of the puzzle, and and again, we coordinate in concert with estate attorneys, CPAs, financial advisors. We are working together for the bigger picture ultimately for our clients. You know, maybe you have land that's that has no uh uh you're not getting any depreciation on the land because there's no structures on it. There's there's ways to turn that into to income and to to defer uh tax-deferred income, actually, on it, which is amazing. Um, maybe you already have property that's been fully depreciated and you're paying a hundred percent of taxes on the income. Maybe you're getting a smaller return, uh cash return on your investments versus where you're at right now. There's so many pieces of this conversation that we're leaning into, and and there's it maybe you need some cash, and there's ways to take cash out of your real estate and and not pay taxes on it. There's some strategies that we're using strategic ways. Again, I you could tell I'm getting in. I I'm I love having this conversation. We're having these conversations every single day. What if you could defer the taxes, make more income, and actually pay less taxes on that additional income that gives more money to give to your family, more money to give to nonprofits. There's tax law that you can use to your benefit, and that's why we're looking at the bigger picture here with our attorneys, our CPAs, and financial advisors. We're here every every Thursday morning at 10 o'clock sharing you positive news about your local real estate market community. We podcast. If you didn't get a chance to hear this whole show and want to go back and listen to it, we we're gonna be podcasting. We podcast all of our radio shows. You can find it on your favorite podcast platform. Uh, you can also, again, if you want to have a conversation about any of this, give us a call at 828-393-0134. Find us online at realestatebygreg.com. We're also here every Friday morning at 845, sponsoring the Hometown Hero Series. We continue to meet and hear incredible stories in our community about people making a difference, which is what we're all about is making a difference in our community. Tomorrow morning, 845, Ashley and Isaac Guffey, and they live in the Batcave community, and they've been doing their part for helping neighbors since the storm, and they've just been so busy in the Middle Fort community that was especially hit hard. And we're going to hear their story tomorrow morning, the George Rosley Group Hometown Hero Series. We're so thankful to be here. There's the music. Time flies when you're having fun. Thank you so much for tuning in again. Be sure to podcast or listen to our podcast. Call us directly at 828-393-0134. Be sure to follow us on social media. Have a great day, and we'll see you tomorrow morning. 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 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, 828-3930134. Find us online at realestatebygreg.com because your next chapter deserves to feel just right.

SPEAKER_00:

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