Peaceful Greenways Benefit Asheville Real Estate Market

Greenways are trails of open space preserved for recreation and conservation.  In many instances, the paths connect common areas and provide safe passage through communities with limited exposure to vehicular traffic.  Greenways often offer protection for native plant life and can help in flood protection as well.

National studies indicate that greenways have a positive effect on real estate sales.  In several studies, days on the market (dom) are reduced when the property is adjacent to a greenway. One particular study indicates that houses adjacent to the greenway sold in just over half the time properties further away from the pathways stayed on the market.  In addition, home values increase on those cites adjacent to the pathways, and sales prices were significantly closer to asking price for those homes as well.

So while Asheville and Black Mountain residents can take advantage of safe, beautiful areas for recreation, the Asheville real estate market can also expect to see some benefits in terms of prices and fewer days on the market for homes in proximity to the greenways.  For more information, please contact Greybeard Realty.

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.

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.

Home sales volume declined 17% in Buncombe County in 2009.  In Black Mountain, home sales volume fell 8% for the same period.

Greybeard Realty, Black Mountain, NC

For Greybeard founder Chip Craig, his company’s increase in sales volume directly links with his company’s focus on advanced technology and expertise.  He notes that nationally 87% of home buyers use the internet while searching for new homes.  In the last year, he has noticed a strong increase in web visits to the Greybeard website with 65% of his company’s web traffic coming from outside of North Carolina.

“Our web traffic is up 85% for 2009,” he says.  “In terms of page views, we are up 137% which means visitors are exploring more of our site.  We have done quite a bit of search engine optimization to ensure that our site appears at the top of Google and Bing (two heavily used search sites).”

Greybeard utilizes the internet to market itself through paid website banners and has increased this exposure in the last year while other companies have had to reduce advertising expenditures.

Also adding to the upward trend is the company’s commitment to rental properties.  With more than 250 homes under the rental management division of Greybeard, the company also receives exposure to many potential buyers who have increased interest in home buying after a rental stay in the Asheville area.

While he can cite statistics that support the positive numbers during the difficult economy, perhaps the greatest company asset, Craig admits, is the intangible one offered by the company itself.

“Since the company started in 1999, we have focused on personal attention and trying to understand the needs of each buyer and seller,” Craig says.  “While we are competing with large, national companies with hundreds of sales agents, we have made a commitment to have a small group of qualified, dedicated brokers.  We have 10 sales agents, each of them with direct ties to the community.  Some of them grew up here, and all of them have a genuine interest in the community.”

With recent sales figures showing that the area real estate market may be trending toward more positive numbers, Greybeard remains dedicated to assisting interested buyers and sellers with individualized service.

For the first time since March 2008, home sales (# of units) in Black Mountain have exceeded the sales from the same month in the previous year, and currently, 22 homes are under contract. And while the average cost of homes significantly dropped from last year, we are finally seeing an upswing — the median price of homes in Black Mountain has increased by 2% year-to-date.

The good news continues for August.  In August 2008, there were 3 homes sold in Black Mountain.  As of the date of this posting (August 29, 2009), there have been 7 closed sales this month.

“We have increased marketing expenditures by 30% in a down economy, resulting in our website has seeing nearly double the traffic from the previous year, and our vacation rental reservations have increased dramatically over the last several months,” noted Chip Craig, owner of Greybeard Realty.

According to sales figures from the Asheville Board of Realtors, Greybeard is ranked #1 for total market share in Black Mountain and #11 for the entire Board.  Says Craig, “We are thrilled to be competing so well with larger firms.  We have 9 full-time agents, while the firms ranked ahead of us in terms of market share have dozens, if not hundreds.”

Just a few of the Luxury Homes sold by Greybeard Realty

Click to see our 2007 and 2008 home sales (*large PDF files).

We are very grateful to all of our clients, and we look forward to the opportunity to continue to serve our community!

Why have a home inspected that you’re not going to stay in?  The answer is fairly simple.  First of all, it illustrates to potential buyers that you care about the house and the house’s upkeep.  If you’re willing to have the home inspected, you’re obviously a careful and thorough homeowner who would have taken good care of your home from the start.

In addition, when the inspection is done, you can take care of any issues that come up yourself which saves time during the negotiating process. I can’t tell you how many times a buyer will submit a bid, pending a home inspection, only to come back with the list of needed repairs detected through the home inspection, which means the buyer and seller have to  go back to the negotiating table for a price.

There’s also the option of not doing the repairs but being honest with potential buyers.  For example, the sellers may need to repair the downspouts and gutters and may take some money off of the selling price, acknowledging that the work needs to be done by the buyer.

So, regardless of whether you are the buyer or the seller, what are the qualifications to look for when choosing a home inspector?  First of all, in North Carolina, they must be licensed by the N.C. Home Inspector Licensing Board.  Also, consider how long they have been in the business and if they have been in the construction business themselves.  You also want to be sure they are bonded and have liability insurance.

Now, you’ve chosen the inspector.  What can you expect?  Cost will vary according to home size.  In general, up to 1,000 square feet will be about $250 while a 4,000 square foot home will be at least $400.  Beware of anyone who gives you a rock bottom price.

A complete inspection will cover everything from structural defects and foundation problems to plumbing to roofs to porches and decks.  Generally, it is preferable for you to be present during the home inspection so that you can see first hand any issues that the inspector discovers.  Expect a thorough inspection to take two to three hours, again depending on the home size.

According to Dan O’Brien who works in Asheville and Black Mountain with Pillar to Post, a national home inspection franchise, the most common problem he sees during inspections is water damage.  This issue can be caused by not maintaining the gutters, not ensuring the home is properly painted, and improper landscaping so the ground does not slope away from the structure.

Another problem he sees frequently is GFI outlets, those electric outlets near water that are more sensitive, not working properly. 

“It’s amazing how a few simple things could be done so there aren’t any problems at all,” he explains.

That’s another reason I strongly suggest a seller’s inspection.  Being able to offer a home clear of inspection problems goes a long way toward simplifying the selling process.  And a simple process equals a quicker sale.

I’m not sure who said it first, but, whoever gets the credit, the adage was never truer than when applied to selling a home.  When you have made the decision to sell your home, it is imperative that you take certain steps before you show the house for the first time if you want to ensure that it sells in a reasonable amount of time.

The first steps are very practical ones.  For example, determine if you want a Realtor and choose one you know you can work with.  Be completely honest with the disclosure form provided by a Realtor.  In addition, you may want to consider having a pre-sale inspection done so that you can make the suggested repairs yourself or at least let a potential buyer know you are aware of the issues.  There are also some simple steps that will let the potential buyer know you are a careful homeowner.  Collect all of the warranties on appliances that will be staying with the home.  All of these steps will let the buyer know you are conscientious about maintaining your home.

The second step is to price the home appropriately.  For example, know the range on comparable home sales for your area and set your price accordingly.  If you need a speedy sale, consider pricing the house at the lower end of the range.  Also, be prepared for counter offers.  Decide in advance what your limits are in terms of what price ultimately will be acceptable.

While these simple steps may seem very elementary, they are crucial in preparing for a successful sale.

The next phase of preparation is termed staging; that is getting the home ready to show.  While homeowners are very capable of doing this step on their own, some sellers are now turning to staging companies to help them prepare their homes.

Susan Leive of Susan Leive and Associates of Sarasota, FL and Black Mountain assists sellers in preparing their home, and she echoes the importance of that first look people have at a home.

“You want buyers to fall in love with the property, and first impressions count,” she says.  “Most buyers will make an initial decision on a property within less than half a minute.  Staging is not how we live but the packaging and presenting of a property for selling.”

From her perspective, there are three things sellers should do before putting the house on the market. 

• Find a good Realtor 
• Price the property correctly 
• Stage the home

“If the first two steps aren’t right,” she warns, “then staging the property isn’t going to help.”

McKay Dean, partner of Maggie & McKay of Black Mountain, cites the number one mistake people make when showing their homes is failing to remove the clutter.  She suggests removing the clutter and taking out personal items such as family photos which make it difficult for potential buyers to see their own families in the homes.  And she notes that removing clutter does not mean putting it into a closet.  She suggests renting a place for the extra furniture and personal belongings. 

She offers very simple advice when it comes to preparing your home for selling it:  “Just clean it up.”  In addition to making sure windows are clean, small repair jobs are completed, and cabinets are tidy, she emphasizes that you need to evaluate each room of the home.

“If you have your office in the dining room, remove it when you get ready to show the home,” she says.  “It’s really important that each room serve one purpose.”

While some of this advice seems like common sense, it is often overlooked by sellers which can delay the sale of a property and mean more home showings ultimately.  For some people it may seem as if coming to the decision to sell their home is the final step, but in fact following up that decision with a little more work on their part can enhance the property’s value and ultimately improve the experience for the seller.