From an early age, my father taught me that if you can't say something nice then don't say anything. This is my first article in a while. In the last 12 months there hasn't been much nice to say about the Black Mountain real estate market. Statistics from the Multiple Listing Service (MLS) indicate that the real estate market in our area [...]
While Black Mountain may have been one of the last markets hit by the economic downturn, we believe it is one of the first markets to begin recovering. While sales in Black Mountain and Buncombe County are down from the previous year by an average of 30%, statistics from the Western North Carolina Regional MLS show that we have may have reached the bottom and are beginning to rebound.
For the first time since March 2008, home sales (# of units) in Black Mountain have exceeded the sales from the same month in the previous year, and currently, 22 homes are under contract. And while the average cost of homes significantly dropped from last year, we are finally seeing an upswing --- the median price of homes in Black Mountain has increased by 2% year-to-date.
The good news continues for August. In August 2008, there were 3 homes sold in Black Mountain. As of the date of this posting (August 29, 2009), there have been 7 closed sales this month.
If you are a first time homebuyer, now is the time to invest. Real estate prices are down, interest rates are low, and the $8,000 tax credit that can help you make a down payment or simply reduce home-buying expenses is still available until November 30th.
The American Recovery and Reinvestment Act of 2009 has helped many people-- this year-- purchase their first home, and [...]
The American Recovery and Reinvestment Act, signed into law on Feb. 17, 2009, provides many buyers with a tax credit of up to $8,000 if they purchase a home between January 1 and November 31, 2009. Most news outlets have referred to this credit as available only to [...]
This month, I want to highlight the second home market, specifically those houses purchased for vacation homes or for future retirement homes. In the next article I will address homes bought for use as investment properties strictly for rental use, which involves an entirely different set of issues. [...]
People often look at the Black Mountain area for investing in vacation rental property, a topic I will discuss at length at another time, but another part of the real estate market is long term rentals. Investors often look for this property, but it can be very difficult to judge the quality of their investment. [...]
