Archive for the 'Asheville NC' Category

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.

For people choosing an Asheville cabin to get away from it all we have added a new rental to our listings, one that offers the desired ambiance and the basic amenities.  This Montreat home really recalls the simpler days and offers renters a chance to escape from the hubbub of today’s technology.  Absent are the wi-fi and the big screen TV.  Available is the peace and serenity that comes with simple mountain living.

Beautiful Day at Lake Susan

Built in the 1920s and completely renovated in 2009, the Lancaster House boasts period charm with high ceilings, tall windows and vintage bead board.  With a new second floor and all new kitchen appliances, renters can experience a fresh, updated home that still has the mountain character they want. 

 Just a 10 minute walk from Lake Susan, this charming home sleeps 14.  In this home, you can quiet the everyday buzz of electronics and really enjoy the solitude of Montreat.   Contact us and we can give you more details on this and other rental homes from our extensive listings.

When the President of the United States comes to Asheville, does he rent an Asheville cabin?  Not exactly.  With his secret service entourage, Obama needs very large accommodations.  The White House announced last week that President Obama and First Lady Michelle Obama will visit Asheville this weekend, April 23^rd to 25^th, and they plan to stay at the historic Grove Park Inn.  Accompanying him on this pleasure trip in addition to his wife will be his children, Malia and Sasha, as well as his mother in law.

Obama Family Headed to Asheville

Historic Grove Park Inn opened in 1913, built from granite boulders from Sunset Mountain.  The inn lobby, The Grand Hall, features two 14 foot wide fireplaces.  The Grove Park has hosted ten presidents, including Obama who stayed there when he last visited Asheville in October 2008, just prior to the November election.

The Asheville Convention and Visitors Bureau notes that Asheville spends about $2.5 million annually to promote tourism in Asheville.  They say that the publicity generated by a presidential visit like this one is priceless.  A White House press release indicated that this is a vacation trip, with no scheduled public appearances.  The Grove Park Inn issued a statement on Facebook indicating that the resort will be operating in a heightened state of security for the weekend with all persons and vehicles subject to search.

On his last visit to Asheville, Obama made a lunch stop at 12 Bones Smokehouse.  If you are hoping for a glimpse of the first family, you might consider dropping in at some of the more popular spots in town.  Malaprop’s Bookstore/Cafe comes to mind.  On second thought, if you have rented your own Asheville cabin from Greybeard Realty for the weekend, you might just want to hunker down, avoid the crowds and enjoy the peaceful mountain views.