Cashiers, North Carolina Second Home Market Report

Hello Readers, Just wanted to share an article I found on the Cashiers area Real Estate Market. Cashiers, NC is located in Jackson County on this map.Now is a great time to buy mountain property in Western North Carolina. Here's why.... Spring starts our busy time of year for vacationers and homeowners spending summers in the mountains. We've already seen an increase of buyer activity and people are starting to come to the area earlier, and earlier every year. Yes, we are in a second home market; however, more buyers are looking to Western NC as their permanent retirement residence. source: Crossroads Chronical News A subprime mortgage crisis may have set off the country's current and growing recessive economic woes, but there seems to be a silver-lined cloud hanging over the Cashiers area."If you are a savvy person who has the resources to take advantage of opportunities, this is a unique opportunity that I have not seen here before, said Joe Pearson, president of Cashiers Mortgage service, Inc. "I'm not saying we're seeing a price drop in all the houses, but if someone wants to purchase in God's country, now is the time to find an agent who will work for them. "The mortgage company Freddie Mac reported on the week of the Feb. 7 that 30-year fixed-rate mortgages averaged 5.72 percent this week. That's up from 5.67 percent the week before. Although the national news media may be reporting otherwise, the combination of lower mortgage rates, falling house prices and the government's newly signed economic stimulus package bring opportunities for buyers in the Cashiers area. Both Carolina Mortgage and Cashiers Mortgage Service have noted a dip in the amount of mortgage applications being processed. But Pearson says that doesn't mean Cashiers is necessarily following in the footsteps of a purported national trend. "The buyers who are affected are buyers who don't qualify (for mortgages)."Jones said that banks have been tightening credit standards, and that it is more difficult to obtain a line of credit. But, she said the basic qualifications for potential buyers haven't changed."It's harder now," Jones said. "If you have a job and a good down payment and good credit - the qualifications have not changed. Those affected most are buyers relying on the non-documentation programs and buyers who have very little funds and buyers with bad credit who, 10 years ago, couldn't even consider buying a house."Another caveat that separates the Cashiers real estate market from others following the reported national trends can be summed up in three words: Second home market. "We are not in the same category as what the media is talking about," Pearson said. "We are in the second home market, a resort area. Our customers are wealthy for the most part, and we don't have a foreclosure issue. What we have are opportunities that people can take advantage of. Out of state contractors building spec homes - they may sell cheaper than what they would two years ago. Other people - their industry may slow down and they may decide to reduce their house price out of a desire to restructure their financial picture, given the economy." If you are visiting the mountains this summer and would like to see property for sale please contact us at 813-784-7744  Keller Williams Realty see also: Land and Lots for sale Sapphire Valley-Highlands-Cashiers-Lake Glenville NC 
For more information regarding Homes for Sale, Real Estate, and Land and Lots for sale in the Western North Carolina Area email me or call 813-784-7744

Green Homes North Carolina: Living Green: Green Building North Carolina

By Reid Horne-Green Home Builders News and Updates

Green Homes North Carolina: Living Green: Green Building North Carolina

"Best" Magazines for North Carolina Real Estate & Culture

This is also another one of my favorite magazines. I thought it was important for folks who may be looking to relocate and purchase Real Estate in North Carolina to research the different areas. So, this has turned out to be my week of "Best Magazines" for North Carolina Real Estate and culture!

Our new development near Cashiers, North Carolina called The Preserve at Eagle Crest chose Our State Magazine to advertise in because of the loyalty of their subscribers and wonderful content they have.

Robin Clark, from Our State Magazine stated "Our paid subscribers as of this letter is 141,478.

She also sent me this email:

Just a note to let you know some great news here at Our State Magazine. As you may, or may not know, 2008 is our 75th Anniversary year. As we prepare to celebrate this major publishing feat, we find ourselves extremely grateful for all we have to rejoice in.

The magazine continues to get better with more photography, fresh stories, and a couple new staff members who are contributing an even greater level of experience to the pages.Because of the beautiful and awe-inspiring covers, our newsstand sales are going through the roof.

The Best of Our State at the Grove Park Inn is sold out, and our first ever Best of Our State at the Outer Banks is generating quite the buzz on the coast.

Our State, the television show, had the great fortune to earn a regular time slot this year - Thursday at 8:00 p.m. This has enabled the show to receive ratings higher than such popular shows as Masterpiece Theater, Nova and Mystery.

Check out the OurState website for more information and subscription rates.


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For more information regarding Real Estate, and Lots for sale mailto:info@carolinapg.com or call 828-226-8837

WNC MAGAZINE EXPANDS TO NINE ISSUES PER YEAR, ADDS 1,000 WAITING ROOMS

This is one of my favorite magazines dedicated to Western North Carolina.

WNC MAGAZINE EXPANDS TO NINE ISSUES PER YEAR, ADDS 1,000 WAITING ROOMS

WNC’s September/October issue is currently on newsstands with features
on unique farms, agricultural heritage, herbal medicines, and hearty
fall brews.

WNC magazine is a lifestyle magazine celebrating the unique people and
cultures; arts, crafts, and architecture; history and foodways of
Western North Carolina. Each issue includes features on current topics
facing residents, profiles on intriguing locals; and regular
departments with gorgeous homes, great weekend escapes, a calendar of
regional events, and a comprehensive dining guide.

For more information or to subscribe, call (828) 210-5030 or log on to
http://www.wncmagazine.com/. WNC magazine is available at area newsstands for
a cover price of $4.95.

WNC magazine—Mountain living in Western North Carolina.



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Golf Course Front Development Investment Property-Western North Carolina

35+/- acres of gently rolling property fronting on the 14th fairway of a fabulous golf course located in the Cashiers/Sapphire area of North Carolina.

View Details at: Sapphire Valley, NC Real Estate: Golf Course Front Development Investment Property-Western North Carolina

AVERAGE HOME SALES PRICE UP 7.5% CASHIERS, HIGHLANDS NC

Map of Western North Carolina. Cashiers is located in Jackson County. Highlands is in Macon County

Here are the latest sales figures on the Cashiers/Highlands North Carolina Home Sales

The Numbers
Entire MLS Area
1/1/07 thru 9/21/07
Versus
1/1/06 thru 9/21/06

Jan 1 2006 thru September 21 2006

Number of Sales 315
Sales Volume $198,067,747
Average List Price $672,482
Average Sales Price $628,786
Average DOM 217
% of sell to list sold for 93.5% of list


Jan 1 2007 thru September 21 2007

Number of Sales 289
Sales Volume $195,290,323
Average List Price $735,360
Average Sales Price $675,745
Average DOM 225
% of sell to list sold for 91.9% of list

State of the market

Number of Sales down 8.3 %
Sales Volume down 1.4 %
Average List Price up 9.4 %
Average Sales Price up 7.5 %
Average DOM up 3.5 %
% of sell to list down 1.8 %

Source: Closed sales on Highlands/Cashiers MLS
Single family homes

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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

The Preserve at Eagle Crest-Cashiers, Lake Glenville NC

Aerial View of The Preserve at Eagle Crest Development


The Preserve at Eagle Crest is a proposed 44 - 48 Estate Home Site community with an average of two acre lots located in the Blue Ridge and Smokey Mountains of Lake Glenville, North Carolina. The views are 360-degrees of the lake, Blue Ridge Parkway, Balsam Mountains, Snowbird Mountains, Whiteside Mountain and long range views into bordering states.

The development is located amongst the highest mountains in the Eastern United States and the area boosts the most waterfalls in North Carolina, exclusive shopping in Highlands & Cashiers, has two of the top five golf courses in North Carolina, public and private lakes, some of the best weather in the Eastern United States. Because of the close proximity to 3 major airports and several smaller ones, the area has doubled in size over the last 10 years. The area continues to see growth in golf courses, lake front property, shopping centers, residents of Fortune 100 companies and some of the top restaurants in the state.

The Preserve at Eagle Crest will be located 8 miles from Cashiers, 7 miles from Highlands, and 55 miles from Asheville. The site is found off Hwy 107 North to Pine Creek Road and right on Cullowhee Mountain Road.

The proposed entrance to the community will feature stone pillars having an automated Iron Gate and signature Copper Eagle sculptures on the pillars. The drive up the 16-foot wide paved road is a slight grade with minimal lighting and side drainage for making access to this community one of the most attractive entrances around. At the top you will come to the Community Pavilion on your right which is present and will be enhanced with a 360-degree stone deck equipped with benches, chairs, fire pits and outdoor fireplace, outdoor kitchen, table and chairs, enhanced indoor kitchen with cooking island for catered events, large tables for entertaining. The Pavilion has an automated 8 over sized “garage” door system that rolls into the ceiling for 360-degree viewing. The thought for the Pavilion is will be used for private parties, weddings, special events, anniversaries, community “block” parties, and many other uses.

The current 2-story Carriage House will be converted to a fitness center, sauna, bathroom facilities, and showers. The fitness center will also provide restroom facilities for the future pool complex featuring an Infinity Heated Pool with full lake views from the edge and Mother Nature. This pool is intended to be upscale with the edge of the pool allowing for the 360-degree views.

Walking trails are proposed to be developed throughout the community.

The 2-story Guest House is intended for hospitality and on site sales office. This current guest home will be enhanced with the full lower level becoming a master suite utilizing the large windows overlooking the mountains. The upper level is superior to many current builder standards and features a full kitchen, great room, full wraparound deck, and will be furnished. The home will be a 2 bedroom-2 bath when completed. The use of this home could be used as a hospitality home for potential buyers and their families.

Visit The Preserve at Eagle Crest for more information on this exicitng new development

For more information regarding Real Estate, and Lots for sale in the Lake Glenville Area info@carolinapg.com or call 888-277-2006

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North Carolina -Number One State for Relcoation

Every year, United Van Lines generates a press release about their annual migration study. Its a fun read, but hardly scientific. The report measures inbound and outbound relocation in each state. In other words, how many of their clients are moving into or out of a particular state.

A strong mobility pattern continued in 2006 as many Americans packed up their belongings and headed to the West and Southeast parts of the country, while the Central Northeast region of the country experienced an increase in residents departing. The statistics are among the findings of United Van Line’s 30th annual “migration” study that tracks where its customers, over the last 12 months, moved from and the most popular destinations.

United classifies each state in one of three categories -- “high inbound” (55% or more of moves going into a state); “high outbound” (55% or more of moves coming out of a state); or “balanced.” Although the majority of states were in the “balanced” category last year, several showed more substantial population shifts.

MOVING IN
Known for hospitality and gracious style, the Southeast states welcomed many new residents in 2006, with North Carolina coming in as the top destination (64.0% inbound). South Carolina (60.6%) continued its 13-year inbound tradition, while Alabama (57.5%) experienced its fourth year as a high-inbound location. Although Tennessee saw less people move in this year (55.8% in 2006; 58.0% in 2005), it still captured a spot on the high-inbound list.

Outbound leaders
The midwest is struggling with weakening economic conditions from serious problems with the auto industry.
Michigan leads the pack with 66% outbound traffic.
New York is second with 59.5% outbound traffic. Upstate New York is still struggling economically and largely missed the housing boom like the New York City region did.

For more information regarding Relocation to North Carolina, Real Estate, and Lots for sale info@carolinapg.com or call toll free 888-277--2006 x2

Sapphire Valley Golf Community-Cashiers, NC

Golf Course Falls