2008 Statistics are in for WNC-Best Deals Projected in 2009

The latest statistics are in for 2008 sales in the Highlands, Cashiers, Sapphire and Lake Glenville areas of Western North Carolina.

The peak of our market was in 2005 and has steadily decreased since. Predictions for 2009 offer the best opportunities for buyers in 10 years.

Large tracks of land are a steal, resale properties are competing with builders and investors are starting to take notice.

In 2008, there were 252 residential sales at an average sales price of $627,919.00 compared to 417 home sales at an average sales price of $702,012.00 in 2007.

Land sales were 132 compared to 341 in 2007.

There were 45 Townhouse/Condo sales in 2008 compared to 57 in 2007.

And, there were 12 commercial properties sold in 2008 compared to 18 in 2007.

Now is the time to buy. Interest rates are lower than at any time in the last 37 years, prices are down and sellers are becoming more motivated.

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For more information regarding Homes for Sale, Real Estate,Large Parcels of Land and Lots for sale in the Western North Carolina Area mailto:info@carolinapg.com or call 828-226-8837

Western North Carolina Real Estate Investing: Home Sales Statistics & Trends -Cashiers/Highlands NC

Single Family Home Sales-HIghlands/Cashiers North Carolina
Jan 1 2007 thru October 31 2007
Western North Carolina Real Estate Investing: Home Sales Statistics & Trends -Cashiers/Highlands NC

Whisper Lake Lot for Sale,Cashiers/Sapphire NC

View of Whisper Lake-Residential Community

FOR SALE BY OWNER Lot of the month - Whisper Lake

Located in the Whisper Lake resort community of Sapphire Valley Resort. All of Wyndham Sapphire Valley amenities are included. The great Sapphire Mountain Golf Club golf course with views, waterfalls, undulated greens and scenic tees is just a short drive with deep discounts. Other Sapphire Valley amenities include... tennis, golf & miniature golf, massage therapy, indoor & outdoor swimming pools, sauna, steam room, game and fitness centers, and downhill skiing.

A diamond in the rough. Great cul-de-sac lot with privacy and at the top and lots of road frontage. Borders the Lupton Ranch.

Available for 65K

View Map of Whisper Lake

Enjoy the beauty of rhododendrons, mountain laurels, and the waterfowl activities, waterfalls close by, great hiking trails, fishing lakes/streams, national forest abound and all the other great mountain living at your fingertips.

Approximately 1 Acre lot at one of the highest elevations in Whisper Lake. Great building sites and preferred builders have been chosen.

There are only a handful of lots to be purchased in the area for 65K and under. This lot already has approved Septic and Community Water in place.

MUST SEE TO APPRECIATE THE VIEWS, COMMUNITY AND THE AREA.

Thinking of building a summer home? Rent out when you are not using it and make a profit!
Want to build? At this price you can afford to build a custom home and still make a nice profit.

There are currently 15 single family homes listed in the MLS for sale in

Whisper Lake.

Pricing ranges depending on size of home and views.

HI: $872,000
LO: $399,900
MEDIAN: $499,000
AVG: $532,547

If you are thinking of investing in Real Estate and buying a starter lot in the mountains of North Carolina, check out Whisper Lake.

There are no for sale signs allowed in the community. Scheduling in advance is always recommended.

For details on lots for sale contact

Rae Shatto, Realtor-

Keller Williams Realty

info@carolinapg.com

Or call toll free 888-277-2006 x2

Average WNC Home Sale Price is Up- July 2007

Average Western North Carolina home sale price is up
Oringinally published at http://www.blueridgenow.com/

By Jim Wooldridge Special to Friday Homes Preview

Entrance to The Preserve at Eagle Crest-Lake Glenville, NC

Home sales in Henderson, Buncombe, Transylvania and Haywood counties, plus an average for the 10 surrounding counties. In the first six months of 2007, the Henderson County real estate market looked like an island in an ocean of declining sales and slow movement.

The local market stood out in comparison to the 10 counties in this region of the state, including Buncombe, Transylvania and Haywood.

"Unit sales were off 3.5 percent here compared to the first half of 2006," noted Judd Richardson, president of the Hendersonville Board of Realtors, "but remember that 2006 was our second best year ever. Only 2005 was better."

He said it's possible for this season to become the third best, which would be outstanding in comparison to most markets around the nation.

Records of home sales are released monthly by the Multiple Listing Service of the Hendersonville Board of Realtors, which keeps computer data for other realty boards in the region.

Average price is up

A special feature of the first six months here was the stable price level, as shown by the ratio of the listing price to the actual closing price. In Henderson County, the average closing price was 97 percent of the price when the property was listed for sale.

Over the 10 county region, this ratio dropped 19 percent from 2006, led mainly by price cuts in Buncombe County.

Despite some price cutting after listing, the average home sold in Western North Carolina cost more than the average home sold six months ago. The average price increase over the region was 6 percent, with a 6.7 increase in Henderson and a 9.8 increase in Transylvania.

"I think the price increase in Transylvania was caused by more sales of upscale properties in the Highlands and Cashiers communities," Richardson said. "It's important that prices were higher in all counties because it shows owners are unwilling to cut prices to move their property, even in a slow market.

The main weakness in the local market was the increase in time between listing and selling. The number of days on the market increased 33 percent to 92 days in Henderson County, more than twice the increase in the region, where the average wait was 103 days.

National market is down
Hendersonville's market has remained stronger generally than the national market, which weakened significantly last year. Although unit sales fell slightly here near year end, the drop was not as severe as it was across the country.

"National sales have an effect here, because there are people who want to buy locally but can't afford to until they sell the house they are leaving," Richardson said.

How the Florida Market Effects Western North Carolina
"This is especially true of the Florida market where a lot of people sell before moving to this county," he said. "We hear improvement there is coming slowly because of the large number of listings hanging over the market."

Richardson said Florida recently passed changes to its property tax system, limiting assessment increases to 3 percent per year regardless of changes in market value.

"Compare that to our increase of 37 percent in four years, which is 9.2 percent per year," he said, adding that the local adjustment in the tax rate did not fully compensate for the increased assessment.

For more information regarding Listing or Buying Real Estate, Communities in the area, and Lots for sale mailto:info@carolinapg.com or call 888-277-2006 x2