Archive for the 'Asheville NC' Category

While Tiger Woods tackles the Augusta National Golf Course this week, he faces an uphill struggle with his company, Tiger Woods Design.  In the five years since his company’s founding, none of his three golf course projects has been completed.  And one course, located in Asheville, will not resume construction until at least this summer.

Tiger Woods might need a mulligan.

His Asheville project, the Cliffs at High Carolina, reportedly paid him $10 million, and the golfing star attended the November 2008 groundbreaking with high hopes. The Cliffs reported then having sold 40 lots starting at $500,000 each.   Since then, not much has happened.

For a more complete understanding of Tiger’s designs, check out the NY Times article that discusses the apparent cancellation of his Dubai project, as well as problems with his other two planned courses.

While Tiger’s off-course travails may have had some effect, the national economic issues appear have impacted the slow-down even more.

For information about golf property available in the area, we invite you to view current Asheville area golf course community listings on our site or contact Greybeard Realty.

They say that a picture is worth a thousand words.  In the case of the real estate market, a good picture can be worth thousands of dollars.  In a recent Wall Street Journal report, the use of nicer, professional photos increased home sale values anywhere from $934 to $116,076. The article details the specifics of how the figures were calculated. Professional quality photos of a listing can increase the sales price.  In addition, listings across all price tiers with such photos receive an average of 61% more views than home listings taken with point and shoot cameras.

Try to use a professional photo for your listing

Perhaps the most surprising statistic of all is that only 15.4% of the homes in the data set were marketed using professional quality photos.  While homeowners and brokers may balk at purchasing a DSLR camera ($500-$1,000+) for the simple purpose of illustrating a listing, consider that a professional photographer can do the work for you for $100-$500, a worthy investment considering the potential payback.

Homeowners often spend funds preparing the home for sale yet overlook investing in the photos to illustrate the beauty of their home.  It’s important to note that potential buyers these days often begin their home search on-line.  In most cases, the first vision they have will be the photo posted with the listing.  To quote another well-known adage:  You only make a first impression once.  Why not spend a little extra, or choose a broker who does, to get a good quality photo that illustrates your home’s true value.  For more information, please contact Greybeard Realty.

There are several signs that larger homes, often known as McMansions, may be headed the way of the dinosaur…or at least the albatross.  The American Institute of Architects survey in 2010 indicated that close to 60% of respondents noted that homes were getting smaller while the remainder reported that home sizes were staying the same.  Almost no one responded that homes were getting larger.

The interest in smaller homes can be understood given the recent tightening of mortgage restrictions, making it even more difficult to finance these larger homes.  In addition, with the national decline of  home values in the current economy, those hoping to upgrade to a McMansion may find it harder to get their value out of their existing home.

McMansions may be on the way out.

This trend toward to smaller homes is even making its way into the second home market.  In major markets across the country, developers are moving away from large vacation homes and moving toward smaller, more compact homes. Again, financing a second home can be more challenging than in the past, and potential homeowners seem to be looking for value and convenience over opulence.

In addition to being more difficult to finance, these larger homes, both primary and second homes, are more expensive to furnish, heat and upkeep, all of which is making the move away from super-sized homes more appealing.

Locally, since 2005, the number of larger homes sold has decreased in Buncombe County.  In 2005, 140 homes of 4,000 sq. ft. and 57 homes of 5,000 sq. ft. sold.  In 2010, those numbers of units sold had decreased to 93 units and 30 units respectfully. For more information or help in choosing the right sized home in the Asheville area, please contact Greybeard Realty.

There are some new housing numbers that may indicate an improvement in the home sales market in the months to come.  Nationally, new home sales jumped 17.5% in December which increased sales of new homes to their highest levels in 8 months.  Economists had expected a 300,000 unit increase for the period.  Instead, there was a seasonally adjusted unit rate of 329,000. The numbers, provided by the Commerce Department, seem to indicate some signs of life in the housing market.

It’s interesting to note, however, that these numbers were influenced by a spike in home sales in the West which economists feel have skewed the numbers toward the positive.  Also, it’s important to note that while there was in increase, it was still down significantly from its peak of 1.283 million-units in 2005.

What do the numbers mean?

With the surge in the West leading the way, the supply of new homes declined to its lowest level since last April.  In addition, the median home price for the period of $241,500 showed an increased to the highest mark since April of 2008. 

Closer to home, Buncombe County Realtors sold $49 million worth of homes during December which was the highest sales volume for homes in the last five months. 

These numbers alone are not enough to indicate a increasing trend, but coupled with the recent stock market rise and the decision by the Federal Reserve to maintain the low interest rates available, it may be seen as a small sign of hope for the new home sales market. For assistance in the Asheville real estate market, please contact us.

If you have dreamed of owning an Asheville rental cabin of your own, you may be interested in the information presented recently in the Wall Street Journal. The article indicates that second home sales in some markets increased at dramatic levels last year. According to the article, the soaring sales levels can be attributed to deeply discounted prices on those homes, cash purchases by buyers not dependent on second home mortgages, and increasing stock portfolios of buyers.

Mountain Views

If you have considered buying a second home, this may be the time to really start your search.  Before entering the buyers’ market, however, there are some simple steps which can alleviate future issues during the buying process.  First of all, do your homework.  What purpose would the home serve?  Will you be renting it out when you aren’t there?  Will you retire there in a few years? How much room do you need? Will you need a management company to keep the home in good condition and keep it rented regularly?

Another important step is to assess your own financial situation.  Will you need a second home mortgage which requires more stringent financials?  How much can you afford to spend?  It makes no sense searching through $1 million homes if you have a budget of $350,000.  Do you have a stellar credit rating?  If not, clean it up prior to applying for that second mortgage.

In the article, financial experts indicated that mortgage lenders were requiring as much as 25% down on second homes and clean credit reports.  Further, they indicated that the best prices on homes were found by buyers able to pay full cash for the home price.  The markets studied were Barnstable County, Cape Cod, MA, Mercer Island, WA, Hilton Head, SC, and Palm Beach, FL, and the increase of the number of homes sold ranged from 9% to 181%.

National numbers for 2010 second home sales will not be available until March 2011, but if these specific markets are any indication, it may be time to consider looking around for that second home. For more information, contact Greybeard Realty.

Stroll through Black Mountain

If you have enjoyed your vacations in your Asheville rental cabin, perhaps it’s time to make the move and purchase your own home in Black Mountain.  Greybeard Realty has two new listings, both conveniently located within city limits.  Each of these 4-bedroom/2-bath homes can offer owners their own little pied-a-terre with fireplaces for relaxation and covered front porches for enjoying the clear, mountain air.

Black Mountain Cabin Rentals

The Church Street listing, centrally located in a prime Black Mountain area, is within easy walking distance of the downtown shopping.  This well-maintained cottage, built in 1915, features a screened back porch, a carport, and a nice level yard.  Enjoy breakfast in the wonderful eat-in kitchen or take a short stroll to one of the nearby coffee shops.

The Hiawassee home, built in 2003, has spacious living areas on three levels with two decks on the back.  Within walking distance of Lake Tomahawk, this newer home features a low-maintenance yard and a family/game room.  The downstairs bedroom would convert nicely into an office.

Tour More Asheville Area Rentals

For more information on these two new listings or any of our other listings please contact us.

Greybeard Realty of Black Mountain, NC, unveiled a new website this week dedicated specifically to their rental home division.  The Asheville area rentals website offers clients more search options, including allowing them to set up a favorite homes grouping so they can do a close comparison to choose the property best suited for their needs.

Setrock Creek Falls in Black Mountain

For company founder Chip Craig the new website improves the service his company has striven to provide since its inception in 1999.  “We pride ourselves on being responsive to our clients, and we think this new website will give them more options and more information, which will make it even easier to choose the right rental home.”

Asheville NC Vacation Rental Homes

Greybeard Realty’s rental staff manages more than 150 vacation rental homes in Asheville and surrounding towns, and more than 100 long-term rentals in the Asheville area.  Amenity categories include pet-friendly homes, secluded homes, romantic homes, and homes with hot tubs.

Craig notes that his company just reached a milestone when they surpassed the 20,500^th reservation in their rental division.  A survey conducted of Greybeard’s rental guests last year indicated that 99% of them would recommend the company to their friends and family.  With the launching of the new website and the positive feedback from past renters, Craig predicts that the number of rental reservations will continue its steady increase.

Greybeard Realty is a full-service real estate company with 11 brokers and 6 guest service employees.  For more information on Greybeard Realty contact Chip Craig at 828-669-1072.

 

 

 

The Sept/Oct 2010 issue of Sierra Magazine ranks 162 US colleges in its 4^th annual “Coolest School” contest, and Black Mountain’s own Warren Wilson College came in at #14 on this year’s list. This represents a four slot rise for the school as they appeared last year at #18.

Farm Life at Warren Wilson College

The magazine ranks the colleges based on each college’s responses to an 11 page questionnaire. Topics surveyed include energy supply, efficiency, food, and academics plus other categories.  Warren Wilson, which the article says gets one third of its food from farms within 500 miles of campus including from its own six-acre organic garden, scored 81.8 out of 100.  The number one school, Green Mountain College of Vermont, scored an 86.8.

Warren Wilson College boasts that “We are not for everyone…” and offers a unique triad approach to education: academics, work, and service.  The accredited, four-year, private liberal arts college was founded in 1894 with a philosophy of sustainability.  With this latest ranking, it seems that that philosophy has remained with the school for more than 100 years.

At Greybeard Realty, we pay attention to sustainability as well.  We offer a complete list of green homes available in the Asheville Real Estate market. Sharon McConnaughy, our sales agent specializing in environmentally conscious homes, can help steer you toward environmentally sound homes in the Asheville area.  For more information please contact her.

If you are looking for an international cultural event within a short distance from your Asheville cabin, consider taking in the 26^th annual Folkmoot USA International Festival taking place in various Western North Carolina counties from July 22^nd to August 1. One of only two international folk festivals in the US, Folkmoot USA, centered in Waynesville, NC, features more than 300 traditional dancers and musicians from 10 to 12 countries each year.  This year’s festival has 21 ticketed performances as well as 34 private and charitable performances, some held as close as Asheville.  Of course, the first step is choosing the right Asheville cabin.  Greybeard Realty can help you make the right decision.  Choosing the right festival event is up to you.

Obama Visits Area

President Obama (POTUS) and first lady Michelle Obama, completed an Asheville vacation weekend that featured a Blue Ridge Mountain hike and golfing, as well as sampling various local restaurants and visiting with Reverend Billy Graham.  Their vacation included lots of scheduling and logistics to ensure that everything went smoothly.

Do you think the Obamas planned their own recreational activities during their weekend in Asheville? Did they choose the best site for their Blue Ridge Parkway hike?  Did they make the calls to the restaurants for reservations? Was the President on the phone checking for the best tee times?  You can be sure that they had someone take care of that for them.  Now, from your Asheville rental cabin you can enjoy the same level of planning on your behalf.

When you rent your Asheville cabin from Greybeard Realty, you can also utilize the guest services division and have them plan and organize your entire vacation, just like the Obamas did.  Think of it as having a vacation’s worth of Presidential treatment.    Greybeard has packages that include golfing at multiple golf courses, including the course Obama played during his Asheville vacation.  We can also arrange for your romantic getaway weekend or an Asheville outdoor adventure package.

If you would prefer several activities, consider taking advantage of one of our a la carte services like a spa day or a horseback riding adventure.  The President had most every move during his vacation photographed by the local press.  While we can’t arrange that type of coverage for you, we can schedule a photography session with a very talented local photographer to record your vacation memories.

The first step in the process is to choose the best Asheville area rental cabin to meet your particular needs.  If you need help with that, we can offer suggestions including best views, dog friendly or most secluded.  Once you have settled on your rental, let us handle the rest of the planning, to make your next Asheville vacation comparable to a Presidential retreat.