Western North Carolina Building Permit Report-2008

The Western North Carolina Residential Building Permit Report has been released.

As of 6/30/2008 building permits were down 38.6% in Jackson County, N.C. (Cashiers)

versus the same time last year.

In Macon County, N.C. (Highlands) permits were also down 21.4%.

As a whole, the entire Western North Carolina Region was down an average of 45.1%

for building permits.

See Also: Best Places to Invest in Real Estate

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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

Update on Growth for the Cashiers, NC Community

The recent Mountain Landscapes Initiative was strongly supported by the Cashiers Historical Society membership, along with many other groups and individuals within the community coming together to discuss the future of Cashiers. We feel it will have long lasting positive results for the community and the Real Estate Market. Out of the 150 people in attendence, only 1 couple thought the meeting was dissapointing. Their issues were related to availability of water and sewer supplies. This issue will be addressed at the next meeting.

If you agree that this charrette will produce positive results for growth in Cashiers, please take a minute to cast a positive vote on line at Crossroads Chronical.
See left hand column to vote.

Thanks to everyone who participated in this important event. The charrette team is returning within the next few weeks to present the Cashiers plan to the community and we will be sending details of that meeting soon.

For more information on the Mountain Landscapes Initiative, please visit http://www.mountainlandscapesnc.org/.

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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

Good News for North Carolina New Home Development

Where are the best places to invest in real estate for 2008? Continued strength and resistance to the national trends seems to be the order of the day. While we have seen some impact to segments of the market here in Raleigh, there are still segments that seem to continue to chug forward. At a recent economic summit here in Raleigh the Chief Economist for the National Home Builders Association had this to say:"Seiders projected that national home sales will hit their nadir in the current quarter, and that housing starts will begin to rise in the third quarter of this year. But, he added, the housing market in North Carolina will continue to outpace the nation's. Housing starts across the country this year should fall about 20 percent, but in North Carolina, the decline should be about half that, Seiders said.North Carolina didn't experience the "runaway housing appreciation" that occurred in markets such as Las Vegas and Florida. So now it's cushioned somewhat from the steep declines in housing prices and housing starts happening elsewhere, Seiders said.Likewise, Custer[CEO of RBC Centura, Raleigh based bank] noted that North Carolina was one of only a handful of states where housing prices appreciated 4 percent or more last year."We're very fortunate to live and be able to do business in North Carolina," he said. Click here to read full story

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

Western North Carolina Real Estate Investing: North Carolina is the place to work and live.

Western North Carolina Real Estate Investing: North Carolina Wins Site Selection Award

Blue Ridge Parkway-Summer Views

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

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

Why people are moving from Florida? Where are they going?

Property tax relief is the Florida Legislature’s top priority this spring. And a new package of bills in New Jersey, if approved, would give a tax credit of up to 20 percent to homeowners and cap annual local tax increases at 4 percent — despite the predicted deficit.

“People are reacting to the large increases in assessments that took place over the past few years and looking to cut property taxes,” wrote Iris J. Lav, deputy director of the Center on Budget and Policy Priorities, a liberal research and advocacy organization. “If assessments stagnate or decline, however, the cuts could seriously overreach.” Gov. Charlie Crist of Florida is among officials across the country who dismiss that notion, saying that reducing property taxes would fatten consumers’ wallets and dissuade them from leaving the state.

Census data show that fewer people than usual moved into Florida last year. And an abrupt halt in the growth of public school enrollment this year suggests that families are leaving. Despite dropping prices, communities like Naples, Miami and Sarasota still have some of the most overvalued real estate in the nation, according to Global Insight, a research firm in Waltham, Mass.

“People are packing up the equity and moving to North Carolina"

For information on relocating to North Carolina, Homes for sale, Land for sale and new developments, call Rae Shatto 888-277-2006 x2 or email us.

Market Growth in Cashiers, North Carolina

Real Estate January 5, 2007, 12:01AM EST

Luxury Real Estate Snapshot: North Carolina

With its hearty economy, varied landscape, and ideal climate, North Carolina has rapidly become a magnet for wealthy homeowners
by Maya Roney

Ask a North Carolinian about the housing bubble bust, and you might get a quizzical look. Bubble? What bubble? It never happened here. In any conversation about local real estate, they will, however, be happy to tell you about "half-backers." Not a football player, but a name for affluent professionals and retirees who move from the Northeast to Florida and halfway back again, to North Carolina.

This migration pattern has contributed to the state's recent population boom and continued home sales growth, even as the U.S. housing market gets whacked due to years of speculation. North Carolina has moved past New Jersey as the 10th most populous state as its population grew 2% in 2006 to 8.8 million, according to the U.S. Census Bureau. In 20 years, it is expected to be the country's seventh most populous state.

The influx seems to be keeping North Carolina's housing market afloat. Existing home sales in the state were up 4% year to date as of November, 2006, vs. a 4.4% year-to-date decline nationwide. Compared to November, 2005, North Carolina home sales slipped 4% in November, 2006, while U.S. sales fell 10.7% in the same period.

Business Bait
"[The population growth] bodes well for real estate, both for real estate investors and practitioners," says Tim Kent, executive vice-president of the North Carolina Association of Realtors (NCAR). "We have every indication that 2006 was the sixth straight record year for home sales in North Carolina."

There's something addictive about North Carolina, the site of the first English colony in the Americas. And it's not the state's abundant tobacco crop. North Carolina's strong economy might have something to do with the recent population boom (and vice-versa). In the 2005-06 fiscal year (July 1 to June 30), the state's gross domestic product grew 3.9%, outpacing the country's 3.5% growth. North Carolina also added 120,000 jobs in 2006. Roughly 20,000 were in construction, and about 10,000 were in financial services at firms like Wachovia (WB) and Bank of America (BAC), both based in Charlotte.

"We have a migration of people, profitable banks, a good university system, and a strong military presence," says Harry Davis, chairholder and economist for the North Carolina Bankers Association. "When you put all those factors together, it creates a good economic environment, and a strong real estate sector."

Forget Florida
Another feature attracting masses to the Tar Heel State? Value. Whether you are relocating for your job or purchasing a second home, as a general rule, you can buy more house in North Carolina than you can in Palm Beach. And you'll still get the ocean view.

"I see a lot of people saying, 'As soon as I can get my home in Florida sold I'll move [to North Carolina],'" says Pat Handley, a realtor with McKee Properties in Cashiers.

The Outer Banks, with its 100 miles of beaches, has always been a popular destination for homeowners and vacationers from the Northeast. The climate is more temperate than in coastal areas further south, and the houses, though costly, are not unattainable. The most expensive beach homes on the market will run you about $5 million. In the case of our featured house in Wilmington, that price buys seven bedrooms and eight bathrooms on the ocean.

The New Aspen
As half-backers make their way to the undervalued mid-Atlantic, another kind of migration is going on within North Carolina—homeowners are fleeing the hurricanes and sweltering summers of the coast, and taking refuge in the mild weather of the western mountains.

Cashiers, a tiny resort community in the Blue Ridge Mountains, was settled about 200 years ago by pioneers from the south looking to escape the summer heat. Today, it still has four livable seasons and some stunning luxury homes. Cashiers also has plenty to do recreationally, with golf courses, streams for kayaking and canoeing, miles of unspoiled forest for hiking, and even skiing.

"Our area has been likened to Aspen as it was in the '50s, before it was developed," says McKee Properties' Pat Handley, who is marketing one of the community's highest-priced properties—a private mountaintop estate with valley and mountain views from every room—for $4.48 million.

Growing Market
Homes over $5 million are still a rarity in North Carolina, especially when you leave the secluded mountains or the coveted coast.

"Emerging is a good word for it," says Ed Willard, an agent with York Simpson Underwood, who has a 10,000-sq.-ft. home on the market for $3.895 million in one of Raleigh's most desirable neighborhoods. The average house in Raleigh, a burgeoning business center, goes for about $250,000, Willard estimates.

The relative inexpensiveness of North Carolina homes can make selling at the highest end a challenge. "The high-end market down here is a little rough," says realtor Martha Bick, whose 15,000-sq.-ft. chateau-style listing near Durham, at $7.763 million, is the second most expensive property in the state. "But it might be $20 million in New York," she adds.

For questions regarding the real estate market in North Carolina, Land Developments, and Golf Course Communities contact The Carolina Plateau Group 888-277-2006 x2 or send us an email