George Real Estate Group Radio Broadcast

From Pies To Portfolios: Navigating Western North Carolina Housing And Taxes

• George Real Estate Group

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Two economies are unfolding side by side—one buoyed by assets and equity, the other stretched by rates and rising costs—and real estate sits right in the middle. We walk through how that K-shaped reality shows up in Western North Carolina, from stable home sales and a five-month supply to a subtle softening in prices and a meaningful rise in cash transactions. Then we get practical: why roughly 15% of pending deals are falling through nationwide, how inspection surprises trigger renegotiations, and the single best move sellers can make to protect price and timelines.

We also take a deep dive into year-end planning. Instead of waiting until after a sale, we explain how to sit with your CPA now and map options like 1031 exchanges, Delaware Statutory Trusts, and UPREITs to defer capital gains, refresh depreciation, and turn active management into passive income. If you own fully depreciated rentals, appreciated land, or commercial property, the right structure can balance income today with legacy goals tomorrow. And when your CPA, financial advisor, and real estate team collaborate early, you keep more of what you’ve earned while staying aligned with IRS rules and your timeline.

Closing strong matters as much as going under contract. We share how a pre-listing inspection builds trust, reduces last-minute panic, and helps you cross the finish line with fewer concessions. Whether you’re buying, selling, upsizing, or simplifying, preparation beats guesswork—and transparency beats surprises. Subscribe for more local market insights, share this episode with someone weighing a move, and leave a quick review to help others find the show. Ready to talk through your plan? Call 828-393-0134 or visit realestatebygreg.com.

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 the queue every Monday morning, sharing with you positive news about your local real estate marketing community. We're so grateful to be here. This is our first show of November, and hope you had a wonderful and safe Halloween. And next up is Thanksgiving and Christmas. Quit rushing. Thanksgiving 1st, which is around the corner. At the George Real State group, we have our annual uh client appreciation pie day giveaway. We give away apple and pumpkin pies to our current clients, our past clients, our future clients. And if you haven't reserved your apple or pumpkin pies, certainly reach out to our office. It's a such a fun day. We do it the Tuesday before Thanksgiving. And these are monster pies, uh, monster pies, uh apple and pumpkin pies. And it's a lot of fun just to connect with our clients, to check in with our clients, to uh just tell them how much we we do appreciate them. We wouldn't be where we're at if it wasn't for our clients, and we're so grateful to serve the community through real estate. If you want details on that, be sure to follow us on social media. You can find us on Facebook or Instagram. We also podcast our radio shows. You can find us on your favorite podcast platform. Uh I'd love to connect with you. You can uh stop by our office anytime. 2720 Greenville Highway, there on Rainbow Road. We serve all of Western North Carolina and the upstate. We have great agents in both North and South Carolina. It's a been a natural uh progression uh, you know, with our business growing and helping our clients, whether it's North or South Carolina. I will say majority of our business is in North Carolina still, but as we grow and as we serve more clients, uh that has certainly become more of a conversation as you know, a lot of our clients are we've had helped a lot of people move from South Carolina up here, and vice versa. Uh it does tend to be uh more people coming into North Carolina that we've helped in and uh whether it's your personal home, uh your investment property, whatever it might be, we'd love to have the conversation. There's there's no pressure, there's no cost, there's no obligation to have a conversation or consultation, and and we love serving our community uh through real estate. Uh, like I said, find us online, uh, realestatebygreg.com. We're here every Monday morning right after the nine o'clock hour sharing with you about what's going on in in the economy, in the real estate market, and we'd love to connect. You can call us directly 828-3930134, 828-393-0134. I subscribe to a pretty intelligent and and and sometimes humorous uh news uh newsletter um called the Morning Brew. And you know, we are looking at, and this is something that they brought up uh in a trend report by the Morning Brew, uh, but it's a fan fascinating and concerning uh report in their latest business newsletter, um, what economists are calling a K-shaped economy, and in plain terms, it means the rich are doing better than ever, while the middle and lower income Americans are falling behind two different economies heading in two different directions, like the two arms of the letter K. And so after a downturn or an economic shock, what K-shape really means, you know, some sectors and households bounce back faster while others keep sliding. And right now in the U.S., according to the Morning Brewer's report, the the divide looks like this the affluent or thriving, you know, helped by a booming stock market and rising home values in a tight real estate market, almost everyone else is dealing with the high interest rates, a shaky job market in stubborn inflation. And I and I actually just this weekend was talking with my neighbors, and again, it is shocking uh the grocery store prices. And that's just one thing. But where we where we see it most, uh, and this is in a number of different industries, the auto industry, according to Morning Brew, citing Cox Automotive Kelly Blue Book, the average new vehicle price passed$50,000 in September, which is a record. At the same time, auto repossessions through Mannheim auctions are up about 12% year over year. So what's the message? Well, wealthier buyers can still afford to drive new while many working class families are returning the keys. Airlines, Morning Brew notes that Delta CEO Ed Bestine expects premium seat sales to exceed coach seats for at least a couple of quarters in 2026. You know, luxury travels up, budget travels down. Uh food and beverage, Coca-Cola CEO James Quincy told CNBC that premium brands like Smartwater, Top Topo Chico, and Fair Life are fueling growth, and then regular Coke sales are strong at dollar stores and amusement parks with higher spending visitors, another clear split between shoppers. And then you have consumer goods. Apple saw double digit growth last quarter at the back of a$7.99 iPhone 17, and wealthier consumers are stocking up at Costco while budget conscious shoppers are stretching every product at home before restocking. So why why does a split keep widening? Economists tell Morning Brew that the divide has a few main causes. You know, asset ownership, people with investments in stocks and property have watched those soar, and then those living paycheck to paycheck haven't. Job inequality, higher paying professional jobs bounce back quickly, while service sector jobs are less stable. And then interest rate pressure, rising rates make it harder for borrowers, especially lower income families, to manage debt or buy homes. And then the bigger picture, you know, University of Michigan economist Betsy Stevenson told Marketplace, quoted in Morning Brew, that the real danger of a case-shaped economy isn't the financial, it's the social and political instability while half the country is doing fine, the other half feels forgotten. So, you know, even in our own area, Western North Carolina, you know, homeowners have watched equity climb while it's challenging for our first-time home buyers to even break into the market. The age of the you know, the first-time homebuyer has has risen dramatically. Also, then our restaurants and short-term rentals, you know, tied to tourism are thriving, but a lot of locals are tightening budgets. You know, inflation at the grocery store, gas pump, still still bites for families living on wages. So you know, the split the split between asset owners and wage earners is real, even here in Western North Carolina. So of course, uh you know, each has to decide what to do. If you're on the upper arm of the K, diversifying and plan for possible corrections. Don't assume the boom lasts forever. And if you're on the lower arm, you know, focus on reducing debt, build that emergency fund and protect your job job stability. And then for everyone, remember that broad economic growth headlines don't always tell the full story. And so, you know, we try to, you know, at you know, as the morning brew puts it, the U.S. economy is strong for some, strained for others, and again, uh uh two very different realities under the same national roof. And so, you know, how do we make sure more people are climbing upward together? Again, you know, we try at the George Real Estate group understanding the bigger picture, big picture economics, and and then ultimately helping all of us, you know, we want to make smarter decisions about our homes, our investments, our community. All these things are are critical as we navigate through this. If you're having conversations, you know, uh talking about uh investments and and thinking strategically, you know, if you're you know, of course, now we're getting towards the end of the year, it's the best time to sit down and talk to your CPA and and look ahead, not just backwards. A lot of uh a lot of our clients and a lot of people in general only think about taxes after the year ends where the best opportunities, especially around real estate, and we've touched on this, come when you plan before the clock runs out. And so, you know, what is a conversation that might look like with your CPA, what to bring up, what questions to ask, and and your CPA is welcome to give us a call at the George Real Estate Group. We've you know the the this conversation matters. Real estate is one of the biggest sources of wealth and also one of the biggest sources of taxes, and a lot of our clients, a lot of our people in our community own properties that are fully depreciated or sitting on vacant land and have high gains built up over decades. And so if you wait to talk, or if you wait to sell well, if you wait until you sell to talk to your CPA, you've already lost your best opportunity to plan. And so your CPA can't go back and fix it once the sale closes, but if you talk to them early and talk and loop us in, we can actually help structure it so you can defer the taxes, create passive income, and keep more of what you've earned. So some powerful questions to ask your accountant or tax preparer you know, have I fully depreciated my rental or commercial properties? And so, if yes, you're actually paying more tax on that income every year. And there are strategies like DSTs or upreets that can renew depreciation and keep your income tax deferred. You know, if you another question, if you sold this property, what would my capital gains tax look like? And that's where 1031 exchanges or charitable real estate gifts come in. Both can reduce or completely defer taxes. And then another question to bring up with your CPA and your accountant are there smarter ways to balance income and inheritance for my kids? And that's where upreets and DSTs can help keep things fair. One heir can take cash, another can keep the real estate uh exposure without forcing a sale. So your CPA is your financial quarterback, they see your income, your depreciation schedules, your cost basis, your timing, and when they partner with a financial advisor and a real estate strategist who understand these tools, we're using 1031 exchanges, DSTs, charitable giving, and that's when things click together. And it's not about selling real estate, you know, it's about building a plan that can that keeps your money working and minimizes taxes. So tell your CPA, hey, I heard about some advanced real estate tax strategies, you know, on the radio, and can we look into those before the end of the year and have them reach out to us at the George Real Estate Group? We work directly with CPAs, financial advisors, estate attorneys to make sure everything aligns with the IRS rules and ultimately your long-term goals. And we work with clients here, right here in town in Henderson County, Western North Carolina, who are tired of paying taxes on old properties or managing rentals they don't even enjoy anymore. And sometimes just one meeting between your CPA and our team at the George Real Estate Group, plus our financial advisors and our attorneys, can uncover solutions that can save tens of thousands of dollars or even hundreds of thousands of dollars in taxes. Your CPA knows the numbers, we know real estate, and together we can make smart, tax-efficient moves. So before you file your next tax return, talk with your CPA about real estate, ask about depreciation, capital gains exposure, and 1031 or charitable strategies. And if they're open to exploring opportunity opportunities, have them give us a call. We love partnering with our local accountants, our local tax professionals, our local attorneys, or and again, we help our clients build passive income, defer taxes, and ultimately create lasting wealth. You know, we love helping our clients. We're committed to improving the lives of our clients and our community, and and it's just amazing uh the what we've been able to do for our clients. Uh we love having this conversation. It's the bigger picture. It's not just about buying or selling real estate, it's the bigger picture about looking at the the your plans and your goals and your dreams and what it looks like to be strategic, not thinking about the taxes after the fact, but incorporating tax strategies, financial strategies, wealth strategies, again, in the bigger picture before you make any decision, whether it's your personal home, your investment property, maybe it's real estate that you are leasing, maybe it's real estate uh that is raw land. I mean, there's so many scenarios. And again, maybe you've already depreciated all your real estate. We'd love to have the conversation. We're here every Monday morning. We have a short break coming up. You're listening to the George Real Estate Group live radio broadcast here in the queue every Monday morning. We love sharing positive news. Uh, we love having the conversation. We love and are enthusiastic about serving our clients. You can find us online at realestatebygreg.com. You can follow us on social media. You can we can if you didn't get a chance to hear this whole show, we do podcasts all of our radio shows. You can find that on your favorite podcast platform. Uh, but we have a short break, and if you'll stay tuned in, we'll be right back. Good morning, and welcome back to the George Real Estate Group Live Radio Broadcast here on the queue. Thank you so much for tuning in. So grateful to be here with you. Uh, just a quick snapshot of our market. We continue to have strong demand. We've had about an 8% increase in number of single family homes sold this rolling current 12 months versus the previous 12 months. I mean, we're averaging about 132 single family homes a month selling. We're not it that doesn't even include condos or townhomes or land. The market is still moving. Uh we've had a softening of prices. Our our prices are softened a little bit, about 3%. The average uh, you know, over the last 12 months, the average price right now for single-family home in Henderson County is at 541. Uh, you know, and we certainly follow the numbers in all the surrounding counties as well, but you know, being Henderson County based, I mean, just reporting on that. You know, the number of homes available is in the mid-600. And so, you know, so we still have about a five-month supply of homes. It is still technically a seller's market. Less than six months is considered a seller's market. More than six months is a buyer's market, but we have less than six months. A six-month supply, according to economists, is considered a balanced market. So we continue to see I would say a very stable market. Days on markets have increased. We still see about a third of our sales purchased in Henderson County are purchased with uh cash. Uh again, you know, just want to you know put some context on that. I mean, the even in the interest rates. Now, the interest rates were lowered recently by the feds, but that's the federal interest rate. That's not the mortgage rates, but mortgage rates certainly are impacted by that. But even with interest rates where they've been all year, you know, the market still is moving. Like I said, we've had an 8% increase in the number of single-family homes sold. And so the market, you know, the market's the market. The economy's the economy. That and guess what? Real estate happens because life happens. And so if you're just curious about you know your personal situation, your unique home, your unique situation, every home is unique, every situation is also unique. I I continue to learn every single day. Uh, we've had the privilege of helping almost 1,600 families throughout the years. You know, and this is my 20th year with my broker's license, and and so we continue to learn. Every situation is different, but we know real estate happens because life happens, and life is continuing to happen. And you know, and and if you'd like to have a confidential consultation, there's no pressure, there's no cost, there's no obligation, you can give us a call at 828-393-0134-828-3930134. We'd love, love to have the conversation. You know, it's interesting, you know, the conversation you know that everybody, you know, do every not every home that goes under contract, just to be candid, and this is part of you know, just sharing what reality is, not every home that goes under contract actually closes. There are homes that come off the market, that you know, that go under contract and then come off the market. You know, there is a category where homes go back on the market. That's not uncommon uh where homes you know go back on the market. It happens. There's a percentage of homes that go under contract that go back on the market, but it doesn't mean they never sell. Sometimes, and there is a North Carolina allows buyers for any reason or no reason during the due diligence period, buyers have the right to walk away. And there's without penalty, they there's a usually there's a non-refundable fee negotiated between the buyer and the seller, but just because a home goes under contract uh doesn't mean it's going to go to closing. Now, sellers, I I actually like our North Carolina contract. Sellers are not obligated to to fix anything. Now, sellers are obligated to communicate material facts to the best of their knowledge. Um, and certainly if a home goes under contract and then the buyer discovers something that the seller wasn't aware of, the seller can either negotiate for repairs to be completed before closing, or the seller can can not choose to do the repairs. They just have to update their disclosure statement and and the buyer can decide whether they want to move forward or not. But you know, there is a lot of uh a lot of things that happen between going under contract and then ultimately closing. So a lot of people don't realize, even in today's market with strong buyer demand, not every contract makes it to the closing table. And this is according to national data, um, there's a national data firm, Redfin, that says about 15% of pending home sales are falling through right now. That's roughly one out of every seven deals. And to put it into perspective, the pre-pandemic norm was closer to 12%. So while most homes do sell successfully and make it to the closing table, there's a number of transactions that, you know, for whatever reason, and again, maybe at no fault of the home or the seller, buyers can just make the decision not to in North Carolina, buyers have that discretion during the due diligence period to walk away. And so a lot of times it's not the financing, it's not the appraisal, but a lot of times it comes down to the inspection and the repair issues. The biggest reason across the United States, deals fall apart is when the buyer's home inspection reveals something unexpected and the two sides can't agree on how to handle it. So, you know, in why are inspections more of a deal breaker these days? Well, it it's in light of today's economic reality. Buyers, as we talked about in the first part of the show, buyers are already stretched thin, home prices are high, interest rates are high, and their monthly payments are often near the top of their budgets. And that means they don't have much appetite or financial wiggle room to take on extra repairs or surprises. So if they're already spending top of top dollar for a home, they are wanting buyers are wanting homes to be more move-in ready. And if an inspection reveals uh leaking roof or a bad water heater or an outdated electrical panel, buyers are far more likely to walk away, especially when there's other options out there. So how do you make sure your deal doesn't fall into that 15% that don't make it? So this is becomes in the preparation and working with a great real estate agent. So a lot of sellers today are getting what's called a pre-listing inspection, and it's exactly what it sounds like. It's a professional home inspection before your home goes on the market. It's it's certainly not required and it's not expected, but the National Association of Realtors calls it one of the best ways to keep deals from unraveling. Why? Because it gives you a chance to find and fix issues on your timeline, on your dollar, not under the pressure of an active contract. You can handle the plumbing leaks, the roof concerns, your electrical updates early, or at least know what's coming and disclose it up front. Buyers are much more uh you know uh negotiable. Again, when you tell somebody up front about something, there's no surprises. They can decide whether to go under contract with it or not, but it's not them going under contract and them them finding out about it. Buyers are more likely to stay in a contract again if they know about things up front, or you as a seller have the opportunity to fix it before you even go on the market. So transparency builds trust, eliminates the surprises, and helps prevent that last the kind of last-minute panic that sends buyers running. And so, you know, the pre-listing inspection is usually uh, you know, it's around here, I think they're about$500. That's a you know estimate, but the peace of mind actually it buys is worth thousands. And so think about it like this it's the difference between finding your your car has an issue before road trip versus finding out halfway through when you're stranded on the side of the highway. And then real estate, the side of the highway moment usually happens during the buyer's due diligence. And then when it's time, stress and negotiations, that's when it all piles up fast. And so, you know, working with our the George Real Estate Group, we can help look into whether it makes sense to do a pre-inspection or not based on your specific home, the maintenance, your familiarity, the condition. Again, you know, every home's unique and different situations, unique and different, but you know, we can help decide what's worth doing or not doing. Or again, ultimately it's about disclosing what we know about it. But you know, ultimately we can decide which repairs are worth tackling up front. And it's okay if you can't or are not in a position to do it. Again, just disclosing up front can help make sure the transparency and the in that the home can you can go under contract and buyers know about things up front and you can go to go to closing. So ultimately, the goal is simple. You want your home sale to cross the finish line. So this is just one small proactive step that can help make the process smoother, wouldn't you want to take it? So a pre-inspection can do that. It can help you sell confidently, knowing you've already tackled stuff even before buyers step through the door. And if you're thinking about selling, we'd love to have the conversation. There's no pressure, there's no cost, there's no obligation. Just because you decide to sell your home doesn't mean you're you're gonna have to do anything. You know, again, North Carolina is an as this state, but we at the George Real Estate Group, we want to set you up for success and ultimately and you can decide whether a pre-inspection makes sense for you or not. You know, because the best closings are the ones without surprises, and ultimately it's preparation, is how you get there. So, you know, at the George Real Estate Group, we love serving our clients. We're enthusiastic. We are so grateful for the opportunity to serve our clients through buying, selling, through, again, the conversation I was having earlier in the show about being a tax strategist, come you know, working in partnership with your CPA, working with your state attorney, working with your financial advisor. We have an incredible team in place. Our team is here to help guide you through every step of the way. And we'd love to have the conversation with you, whether it's your real estate portfolio, it's your investment real estate, it's your personal home, you could be, you know, whether you're downsizing, upsizing, right sizing, whatever it might be. We love serving our community through real estate. We're so grateful to be here. You can follow us online. We have our open houses that we post on our social media. Follow us on Facebook and Instagram. We also podcast all of our radio shows. You can find that on your favorite podcast platform. But we just love to connect with you any way we can. You can call us directly at 828-393-0134. You can find us online at realastatebygreg.com. You can stop by our office there in FlatRock, but we're always grateful to be here with you every Monday morning. And again, hope you are just excited. I'm excited about the month of November. Thanksgiving's coming up. Christmas is around the corner. You can decide if you want to start playing Christmas music now or not, but that'll be a family discussion. I hope you have a great day, and we'll see you next Monday. You've built a lifetime of strength, wisdom, and independence. And here's the best part: you still have it. Every decision, every step, every next chapter is yours to choose. Selling your home isn't about letting go, it's about opening the door to more freedom, more time for what you love, more energy for the people and passions that matter most. At the George Real Estate Group, we believe independence isn't behind you. It's right here, right now. Our team goes beyond buying and selling. We're here to help you protect your wealth, preserve your legacy, and make sure Uncle Sam doesn't become your biggest benefactor. We'll guide you every step of the way towards your next chapter, your next opportunity, and your freedom on your terms. Call us at 828-393-0134. Find us online at realestatebygreg.com.

SPEAKER_00:

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 realestatebygreg.com. 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 905 on WTZQ FM 95.3 and 1600 AM, or stream online at WTZQ.com.