WESTERN NC REAL ESTATE INSIDER: Land and Real Estate Market Growth Statistics North Carolina Mountains

The latest Building Permit Report has been released for the Western North Carolina Region. The report covers 10 counties in the region. This includes Asheville, NC, Cashiers, NC, Highlands, NC, Sapphire NC and Lake Glenville areas. As a whole the Western North Carolina region is down 45% on building permits so far this year 2008, compared with last year 2007.

From Bald Rock, NC Real Estate

What does this mean for people looking to invest in property?

First, it indicates that buyers would rather buy a pre-existing home than build.
Second, owners who can afford to, are holding on to their land and waiting until the economy recovers.
Thirdly, if builders are building 45% less than last year, that would explain the drastic drop in land sales for 2008.

Developers and owners of land are all competing to sell their inventory since the need for building is almost half of what it once was just a year ago. Individuals who have land on the market, likely know the builders have stopped building in speculation and also have a large supply of unsold lots. If owner's need to sell they are more than willing to negotiate on price.

The whole region has an over supply of land sitting on the market waiting for buyers. You will find everything for sale from large tracks of land ready for development, golf course frontage tracks, and 1 acre plus lots in residential subdivisions.

If you've been to our mountain community you know how amazing the mountain and lake view lots are. This may be one of the best times in years to invest in mountain property in North Carolina. Prices are dropping and inventory is high. Supply is plentiful and demand is low.

Someone shared with me a famous quote today by Warren Buffet that I thought was appropriate

"We simply attempt to be fearful when others are greedy and to

be greedy only when others are fearful."

Warren Buffett

See all land for sale in Western North Carolina.

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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

Head for the Hills
By Kathy Becker

A change in climate with a change of pace -- the same thing that draws many people to Southwest Florida -- is proving to be an irresistible lure for some working Neapolitans, who find themselves heading for the high hills of Georgia and North Carolina.

In the jargon of the development real estate business, they are called half-backs or boomerangs, because many of them originally came to Florida from the north. Now they are landing about halfway back to their birthplaces, seeking getaways well above sea level.

"We moved down here from the north and find ourselves halfway," says Michael Vranek, vice president of sales at Lely Resort for Stock Development, who has a getaway place he visits nearly every other weekend in Blairsville, Ga., just south of the North Carolina border. "There are four seasons up there, but none of them are so harsh. It's so delightful in the summer. The golf courses are open 12 months of the year. There is some snow or ice, but it's gone in a few hours or a day. And there's unbelievable, true beauty. My wife's family is in Baltimore and Cleveland, and everyone can meet there. We had 13 people for Thanksgiving there last year."

June Mueller, former president of the Naples Area Board of Realtors in 1999, is semi-retired and selling real estate to Neapolitans in Cashiers, N.C. "It's the same issue that drove the baby boomers to Florida looking for a simple, safe place," she says. "They like that kind of lifestyle. It's so similar to Naples. I could see it blossoming in the same way as Naples."

Neapolitans are helping fuel North Carolina's boom. Mueller says about 25 percent of the members of the Country Club of Sapphire Valley near Cashiers are from Naples. "When I built my house three to five years ago, it was $140 a square foot to build," Mueller says. "Now it's between $200 and $450."

This is an article that was published Nov 2006 in the Naples Ilustrated Magazine.