Blog :: 08-2009

Is this the Beginning of the Recovery?

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.

stats-through-July09

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.

Greybeard Realty Leads the Market in Luxury Home Sales

Greybeard Realty has become the leader in high-end home sales in Black Mountain and Montreat.  Having sold 50% of all homes in the $400,000 and above market since August 2008, Greybeard's success testifies to our experience, knowledge, and, most importantly, to the trust of buyers and sellers alike.

"We have increased marketing expenditures by 30% in a down economy, resulting in our website has seeing nearly double the traffic from the previous year, and our vacation rental reservations have increased dramatically over the last several months," noted Chip Craig, owner of Greybeard Realty.

luxury-stats

According to sales figures from the Asheville Board of Realtors, Greybeard is ranked #1 for total market share in Black Mountain and #11 for the entire Board.  Says Craig, "We are thrilled to be competing so well with larger firms.  We have 9 full-time agents, while the firms ranked ahead of us in terms of market share have dozens, if not hundreds."

Just a few of the Luxury Homes sold by Greybeard Realty

Just a few of the Luxury Homes sold by Greybeard Realty

Time is Running out on the First-time Homebuyer $8000 Tax Credit

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 National Association of Realtors estimates that 350,000 first-time buyers will own homes thanks to the tax credit. Additionally, North Carolina homebuyers, who meet income requirements, may be eligible for a Mortgage Credit Certificate (MCC). An MCC allows you to claim 20% of the interest you pay on your mortgage as a federal income tax credit and has the potential to save you up to $2,000 a year on your federal taxes. An MCC can be combined with the $8,000 federal tax credit, but qualified buyers need to move quickly to take advantage of this opportunity because the November 30th deadline quickly approaches.

The knowledgeable staff at GreyBeard Realty wants to help you take advantage of this first-time buyers' market. Let us help you find your new home. Buyers are advised to consult with a tax professional regarding tax credits and mortgage credit certificates.

If you are a first time homebuyer, now is the time to invest. Real estate prices are down, interests 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 December 1st.

The American Recovery and Reinvestment Act of 2009 has helped many people-- this year-- purchase their first home, and The National Association of Realtors estimates that 350,000 first-time buyers will own homes thanks to the tax credit. Additionally, North Carolina homebuyers, who meet income requirements, may be eligible for a Mortgage Credit Certificate (MCC). An MCC allows you to claim 20% of the interest you pay on your mortgage as a federal income tax credit and has the potential to save you up to $2,000 a year on your federal taxes. An MCC can be combined with the $8,000 federal tax credit, but qualified buyers need to move quickly to take advantage of this opportunity because the December 1st deadline quickly approaches.

The knowledgeable staff at GreyBeard Realty wants to help you take advantage of this first-time buyers' market. Let us help you find your new home.

Jane Shockey Joins Greybeard to Open Commercial Division

Greybeard Realty of Black Mountain announces the opening of Greybeard Realty Commercial, with offices at 706 N Highway 9 in Black Mountain.  Jane Shockey, a Black Mountain native with more than 20 years of commercial brokerage experience in Western North Carolina, has joined Greybeard to oversee the operations of this newest area for the real estate company.

For Chip Craig, president and founder of the 10-year-old company, the move into the commercial property business is a natural progression for Greybeard.

"With our rental management division and our real estate sales office, we already have the marketing infrastructure in place needed for a successful commercial division," he explains. "And we are very fortunate to have Jane Shockey jane-shockeyjoining us as she brings more than two decades of local commercial real estate expertise to our firm."

For Jane, it represents a chance to come back to her home town and work with an established team of Realtors.

"I'm excited to be able to focus on commercial property in the Black Mountain area," she says.  "Greybeard is a natural fit for me, and I look forward to working in the community I grew up in."

The commercial division, open immediately, will provide both rental and sales services for Greybeard clients.  Greybeard Commercial is a member of Western North Carolina Regional MLS (Multiple Listing Service), Karnes-Western North Carolina Commercial Property Exchange, and Loopnet.