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Just hope it continues to get better. Even inch by inch. It's still a long road ahead of us. So many people are out of work because of this bad RE market. Including me! It will probably roller coaster for a couple of more years and then hopefully things will get somewhat normal again. (whatever that is!)
Sorry to hear. Bubble bursting is ugly business, for sure.
The stock market has spoken loud and clear about the housing market though, and the stock market is always a leading indicator. So even though things may seem bleak now, things are going to get better, even if slowly.
It will probably be a long, slow climb back (which is probably a good thing, long term).
I pulled this report from a realtors website. Kind of gives a good picture of the overall status.
Numbers are from WNCRMLS as of 9-15-09.
August 2009 2008 %Change
Homes Sold 446 484 -14.7%
Dollar Volume $95,788,605 $133,075,256 -28.3%
Avg. List Price $229,293 $294,931 -22.3%
Avg. Sell Price $214,773 $274,949 -21.9%
Med. List Price $189,900 $224,900 -15.6%
Med. Sell Price $176,000 $215,000 -18.1%
Days on Market 148 133 +11.3%
PS: sorry but the website won't display the formatting properly.
Hi Everyone! Thought this article in the Asheville Citizen-Times today may be of interest as it talks about the current economy in Asheville as well as real estate. Here's the link:
Hi Everyone! Thought this article in the Asheville Citizen-Times today may be of interest as it talks about the current economy in Asheville as well as real estate. Here's the link:
This is very interesting reading to me as I have been looking for a home in Yancey/Mitchell county for awhile and I'm still not sure what is going on. There seem to be A LOT of houses for sale but it is very difficult to know what is a "fair" price to pay because there is virtually no information on "comps" in the area. I am getting the feeling that there aren't any comps because so little has sold, at least in the past year. I am wondering how people are coming up with their prices, in many cases, it seems to be wishful thinking. I hesitate to put in offers because the prices seem so arbitrary. I liked one property in Yancey county that I saw recently but the asking price is $300,000 over the tax value. Isn't there something wrong with this?
Does anyone have any suggestions?
Wear a bullet proof vest in west asheville?????? Come on now, have you ever been anywhere with actual crime? W. Asheviile is full of families and kids, its hardly the ghetto. In fact its been named top 10 happiest places to live several times.
Also doesn't saying that asheville continues to weather the storm at mid level and exceptional houses still go fast.......but its still crappy contradict each other
This is very interesting reading to me as I have been looking for a home in Yancey/Mitchell county for awhile and I'm still not sure what is going on. There seem to be A LOT of houses for sale but it is very difficult to know what is a "fair" price to pay because there is virtually no information on "comps" in the area. I am getting the feeling that there aren't any comps because so little has sold, at least in the past year. I am wondering how people are coming up with their prices, in many cases, it seems to be wishful thinking. I hesitate to put in offers because the prices seem so arbitrary. I liked one property in Yancey county that I saw recently but the asking price is $300,000 over the tax value. Isn't there something wrong with this?
Does anyone have any suggestions?
Tax value has nothing to do with home value in regards to sales price.
It can be very tough with rural or mountain properties to find comps. I'd suggest you find the most experienced local realtor and hire them as a buyers agent. THEY will know historic values and whether something locally is overpriced, and if so by how much. Best of luck!
Tax value has nothing to do with home value in regards to sales price.
It can be very tough with rural or mountain properties to find comps. I'd suggest you find the most experienced local realtor and hire them as a buyers agent. THEY will know historic values and whether something locally is overpriced, and if so by how much. Best of luck!
I would have to disagree with that statement.
Here's what I've been reading for Haywood County:
Quote:
Why are Haywood County real estate properties reappraised?
North Carolina law requires a reappraisal of real property at least every 8 years. Depending on the growth rate, many counties choose to conduct a reappraisal in a shorter time frame to reduce the potential burden on property owners. The Haywood County Board of Commissioners voted in 2000 to conduct reappraisals every four years, beginning with the 2002 reappraisal. The last reappraisal was conducted in 2006 and the next one is scheduled for 2010.
Who appraises real property?
Property appraisal is conducted by the Real Property Appraisal staff of the Haywood County Tax Assessor’s office. These appraisers are certified as real property appraisers by the North Carolina Dept. of Revenue.
How are property values determined?
Haywood County appraisers begin by verifying and updating data files by making onsite visits to your property. The appraiser then compares the property to similar properties and determines a market value based on what is going on in the local real estate market. Using knowledge of the local market, as well as standard methods of analyzing comparable properties and factors that affect values, the appraiser applies the current Schedule of Values adopted by the Board of County Commissioners. Comparable properties should appraise at a rate similar to comparable properties on the market, taking into consideration specific factors that may lead to adjustments up or down.
Real estate values have declined since 2006, so if anything, the tax appraisals are on the high side. And to say there are no comps is to say nothing has sold, which isn't correct either.
Real estate values have declined since 2006, so if anything, the tax appraisals are on the high side. And to say there are no comps is to say nothing has sold, which isn't correct either.
Haywood County, NC Tax Department GIS (http://maps.haywoodnc.net/gisweb/default.aspx - broken link)
I didn't say there were "no comps", I said they can be tough to come by in rural and mountain areas. And that's NOT because things haven't sold, that's because rural and mountain property is usually more unique and therefore harder to compare to other properties.
I didn't say there were "no comps", I said they can be tough to come by in rural and mountain areas. And that's NOT because things haven't sold, that's because rural and mountain property is usually more unique and therefore harder to compare to other properties.
Maybe you could elaborate on what you think is being compared to what to achieve values?
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