George Real Estate Group Radio Broadcast

Unlocking Hendersonville's Real Estate Secrets: Market Trends, Personal Triumphs, and Prime Opportunities

• George Real Estate Group

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Ever wondered what sets apart a vibrant real estate market from a stagnant one? Join us as we uncover the secrets behind Hendersonville, North Carolina's thriving real estate scene this fall, while also sharing a heartwarming personal story about my son's stellar performance in high school football. We'll explore how sports play a pivotal role in shaping character and teamwork, and reveal why the upcoming week from September 29th to October 5th presents a golden opportunity for buyers, thanks to high inventory and favorable prices. Our unwavering commitment at the George Real Estate Group to serve Western North Carolina and upstate South Carolina shines through in our dedication to assisting you with all your real estate needs.

Get ready for a detailed analysis of current market trends in Henderson and Buncombe Counties. Discover why single-family homes are in high demand, leading to an impressive 8% appreciation over the past year. We'll break down the influx of new listings, homes going under contract, and how migration to this area enhances its appeal. Find out why accurate, personalized home valuations are more critical than ever, especially amid recent price reductions for overvalued properties. Plus, learn about our proven track record of helping over 1,200 families at the George Real Estate Group. Stay tuned to our live broadcasts every Monday morning on WTZQ FM or online at WTZQ.com for the latest updates and expert insights.

Speaker 1:

Hello friends, thank you so much for being here. This is the George Real Estate Group podcast, which is a production of our live weekly radio shows hosted on multiple radio stations here in Hendersonville, north Carolina. The George Real Estate Group serves Western North Carolina and upstate South Carolina and it is a privilege to share positive news about our local real estate market and community. Thanks so much for subscribing and, of course, if you have any real estate questions or if we can help you in any way, be sure to reach out. Visit us at georgerealestategroupradiocom for more information. Good morning and welcome to the George Real Estate Group live radio broadcast here on the Q every Monday morning, bringing you positive news about your local real estate market community. Grateful to be here with you. So much to be thankful for. And here we are. It's the middle of September. Did you know? It's actually 100 days officially, from Christmas today, and that means there's probably you know, just just. I mean, if maybe you've started your Christmas shopping, maybe you haven't a hundred days till Christmas. Time flies, and here we are, we're around the corner from 2025, if you can believe it as well. So, again, the holiday season. I mean we gotta. We gotta enjoy the fall. First, though, and you know all the events, of course, you got Halloween, and then Thanksgiving and then Christmas around the corner. This time of year is wonderful. There's just so much to be thankful for. The weather is amazing and grateful to be here with you, sharing with you about the local real estate market and our community. I want to give congratulations out to East Henderson High School. They won their game Friday night 3-0. As a proud father it was actually my son Barkley that scored the winning field goal, the only three points of the game, and the Q broadcasted the game. That was exciting, and if you want to tune in, friday nights the Q broadcasts the football games, different games. They happen to be broadcasting the East game, and now 3-1. And after you know, almost two seasons, 0-16, and then to have a turnaround, here they are 3-1. And again wanted to wish congratulations to Coach Brackett and also a proud father, my son making the winning field goal, the only three points of the game, which was fun. So definitely wanted to acknowledge that. Just, you know, as a parent, certainly proud of your kids and you know they're going to have. You know wins and losses, but again, just the progress, not perfection, and making you know they're going to have, you know wins and losses, but again, just the progress, not perfection, and making you know those guys are showing up, they're putting in the hard work. So again, high school sports is so great for so many reasons the experience, the camaraderie, the hard work, the effort they have to put in. And you know the thing is, with any success it's showing up every day. The luck shows up for those that show up and working hard and putting in the effort. It's the you know. I heard a quote about marathons. Marathons are hundreds of miles. It's just the last 26 miles is you know, the last is the last 26. But it's hundreds of miles that you put in to do that marathon.

Speaker 1:

If you're tuning in for the first time ever, the George Real Estate Group is located in Flat Rock, right next to the Flat Rock Bakery, hubba Hubba Barbecue, campfire Grill, the Wrinkled Egg, all the amazing businesses and local independent businesses and restaurants. The George Real Estate Group is local and independent as well. We've had the privilege of helping over 1400 families throughout the years, if we can help you in any way. If you're curious what your home is worth, if you're curious about the market, if you're curious, do you sell before you buy? Do you buy before you sell? We'd love to connect with you and help you any way we can. You can give us a call at 828-393-0134, 828-393-0134.

Speaker 1:

We had six open houses this past or yesterday, this Sunday. Six open houses. We were busy and the activity was incredible. Different agents we had six different agents, amazing agents on our team hosting the open houses. It was so busy and people were coming out Already. One of the open house homes is under contract.

Speaker 1:

There's a lot of activity. The market's moving and people are always curious. I mean, is there a better time of the year to buy or sell? And the truth is homes are selling year-round. It always seems to be relative to the demand, to the inventory and the sense of the time of year. I mean the month of August. There was some 180 single family homes that sold just in the month of August alone and the market is healthy, it's moving. I mean, really, over the last 18 to 24 months we've been averaging some 120 single family homes a month selling.

Speaker 1:

You know there is a lot of discussion about the housing market in the news. You've been probably seeing it in the headlines. The shift is underway in the housing market and some people have been sitting on the sidelines waiting for the right moment. And again it's perception. The reality is homes have been selling specifically here in Henderson County and we serve all of Western North Carolina. We serve upstate South Carolina too.

Speaker 1:

But the experts at Realtorcom study seasonal trends to figure out the ideal week for home buyers and the best week to buy a home this year is actually just around the corner Nationally. According to their report, nationally, the best time to buy in 2024 is the week of September 29th through October 5th. And this is so interesting. This week, historically, has shown the best balance of market conditions that favor buyers. Inventory tends to be high, prices are below peak levels, demand is waning and the pace of the market slows to more manageable speed. Let me put that sentence, or those words, into context. Our prices are still peaking. We've not had a dip in prices. Our average single-family home price in Henderson County continues to appreciate. Over the last 12 months we're at $549,000. $549,000 and change almost $550,000, our average single-family home price in Henderson County. But nationally they're saying again there's been some. You know prices have been below peak levels.

Speaker 1:

Another fascinating thing is, in addition to the historical trends and typically seasonality that Realtorcom looks at. There are also clear indicators that today's market data, in today's market data, that you'll see better conditions right now than you would have over the last few years. This is amazing. Mortgage rates just hit their lowest point in 19 months and that goes a long way to help with your purchasing power and affordability. Andy Walden, with the Intercontinental Exchange, points out this Recent easing in mortgage rates brought some much sought relief to the prospective home buyers, along with the general cooling in the home price. Growth rates falling below 6.5% made August the most affordable month for housing since February. Obviously they're they're looking back. I mean, this month of September we saw interest rates get right near 6% I think it was 6 and an eighth.

Speaker 1:

And then Ralph McLallin, the senior economist at Realtorcom, explains that it's not just rates that have improved. Inventory has too. The number of homes actively for sale continues to elevate compared with last year, growing by 35.8% a 10th straight month of growth and now sits at the highest since May 2020. And so that, as a buyer, that gives you more options. I mean a lot of sellers are saying, hey, I'd love to sell my house, but I don't know what I'd buy or what I could find, and so the easing of the inventory helps buyers and sellers. I think a lot of sellers are saying hey, I'd be willing of sellers are saying hey, I'd be willing to sell my house, especially now that interest rates are going lower but also that there's more options to consider. And so sellers now have you know, in Henderson County there's a few more homes available, and specifically right now there's 472 active single family homes in in the market, and so the supply and demand inventories increase a little bit here in the area. That gives buyers and sellers more options. And so, again, buyers and sellers can work through the market. And this is where, working with a professional, you can hire a real estate broker to help you navigate through the buying and selling process.

Speaker 1:

It's interesting how people's perspectives and you hear the news you wonder about what is the market doing, and this is where we try at the radio show here and certainly in our conversations with our team and our clients, when people say, well, what is the market doing Well with our team and our clients, when people say, well, what is the market doing Well, there was more homes that sold in August this August than last August. Almost 40% of our sales in Henderson County were purchased with cash in the high 30% range. The average single family home price is at $549, almost $550. The demand remains strong. Inventory levels remain healthy. We're in still a seller's market and we're seeing homes move and just with the activity we had this past Sunday, again, homes sell year round.

Speaker 1:

It's easy to think the sky is falling. Or no one's buying with these interest rates, or no one's selling because they don't want to give up their 2% or 3% or 4% interest range. Regardless of the economy, regardless of the election, regardless of the economic environment, regardless of the interest rates, real estate is a life-driven event. It could be a really positive reason why you're buying or selling. It could be a very challenging reason. Whatever it might be, we have an incredible group of agents at the George Rilsick Group ready to navigate through the market with you and we're here. It's through care and candor, it's being really honest about what the market's doing. Now I think you're going to be really pleased with what the market's doing. Most sellers are going to be surprised. I mean in the sense of like. Maybe not surprised, but I mean everybody here. Prices are up but the market's still moving. Home prices are in Henderson County at an all-time high the inventory. It's a great time to sell. It's a great time to buy too.

Speaker 1:

One thing that could happen is increased demand if the feds if and when the feds drop their interest rates. This is an article I just recently saw this morning on a newsletter that I follow called Morning Brew. The article said the time has come for the Fed to make the cut. Everyone is in agreement that you know. Jay Powell cut interest rates for the first time since 2020 after the Fed's two-day meeting concludes on Wednesday. The question is, will he trim a little bit or go for something more drastic? The market appears to see the chances of a quarter point out and a half point cut as equally likely. Cutting rates by a quarter point has been the expectation, but analysts feel the Fed is behind on rate cuts and will consider the half point cut due to signs of a slowing labor market in recent months. So now again, the Fed rates different than the mortgage interest rates, but they certainly are connected.

Speaker 1:

There's some saying that the expected interest rate cut is already baked into the current mortgage rates. I mean, it's not a direct correlation. The mortgage rates tend to be tied to the 10-year treasury bond and the yield, and so all those things to say. If the interest rates go down and continue to go down, and if we see interest rates go into the fives, it's just going to create more demand, more buyers to the market, potentially more sellers, because sellers that have been holding off because their interest rates have been so good. But at some point it doesn't matter what your interest rates are as a seller, if the house isn't working for you. Maybe you need to upsize, Maybe you need to downsize, maybe you're moving into a retirement community, maybe you need to move to be closer to family, maybe you want to get closer to those grandkids. Whatever the reason is, an interest rate is only one piece of the puzzle. And then a lot of our clients have their homes paid off and so it's not driven by interest rates, and so their ability to buy and sell, not tied to the interest rates, gives our clients a lot of flexibility, a lot of freedom.

Speaker 1:

We're helping a lot of cash buyers, and so there's so many components to this, and we're here to walk alongside with our clients through the buying and selling process. We're growing our team. We have more agents joining our team. We're grateful for the incredible agents that we have and if you're curious about a career in real estate, give us a call at 828-393-0134. 828-393-0134. Find us online at realestatebygregcom.

Speaker 1:

We also podcast all of our radio shows. We podcast our shows and you can find it on your favorite podcast platform, whether it's Apple, amazon, alexa, spotify. Subscribe to our radio show. We have multiple radio shows that we podcast. We'd love to connect with you.

Speaker 1:

And then, of course, stop by our office at 2720 Greenville Highway. There in Flat Rock, there's been so much activity going on. Homes are selling year-round. Certainly, the average is 122, 123 single-family homes a month selling year-round and, for context, the month of August was 180. So you can understand, during the winter it drops down, but it's still moving. The market is still moving. It's a great time to buy, it's a great time to sell, and I say that in the context of it has to be right for your story and for your situation and your circumstances. So we'd love to interview you for the job. Give us a call at 828-393-0134, 828-393-0134. Find us online at realestatebygregcom. Stop by our office.

Speaker 1:

We're here every Monday morning right after the top of the nine o'clock hour, bringing you positive news about your local real estate market community. We have a short break coming up here, so stay tuned in, we'll be right back. Good morning and welcome back. You're listening to the Georgia Real Estate Group live radio broadcast here on the queue every Monday morning, bringing you positive news about your local real estate market community. The market's absolutely still moving. Just in the last seven days in Henderson County there's been 46 new listings. Now this is interesting. There's been 57 price reductions. There's been 20, excuse me, 37 homes go under contract and then there's been 32 homes closed. I mean there's an ebb and flow. It's fascinating. Almost 10% over 10%, over 10% of the listings in Henderson County have experienced price reductions and so I mean you can still overprice your home.

Speaker 1:

The market you know in the market that we're in, like I said, 472 active single family homes in the market, the demand 120. So I mean we have like a three-and-a-half four. We don't have a four-month supply yet. Actually we have a three-and-a-half-month supply. When you look at the demand, like if no more homes hit the market and we continued to average 120 homes a month selling, in three-and-a-half months we'd have no more homes. But every day there's homes that go on the market. Like I said, in the last seven days there's been 46 new listings, and so I've used the example of you think of a bathtub and you think of the water coming into the bathtub. The flow of water is similar to the inventory that we experience, and so the drain, that's the homes that are selling and going under contract and they're being taken off the market and sometimes the level of the water goes up and down based on the flow of water, and so the flow of water is the inventory and then the homes going under contract are homes coming off the market, and so at the moment we have a three and a half month supply and they say a six month supply is a balanced market.

Speaker 1:

The economists say six months and that's when you see prices sort of staying flat. Prices are not staying flat right now because the demand continues to outpace the inventory levels. At the moment there's there was more than just the last seven days. There was 46 new listings and only 37 go under contract. But that doesn't mean at the moment that's just a snapshot of the seven days. But when we look at the 12-month picture and where things are going and the current demand and the current supply, that's why prices keep going up. Prices continue to go up. We've had some 8% appreciation in the last 12 months in Henderson County and so that's outpacing the national appreciation. There are some parts of the country that are experiencing a slowdown. Here in Western North Carolina and specifically Henderson County and Buncombe County, thank you, we've migrated incoming migration states and so I think that's going to continue.

Speaker 1:

The growth that we're experiencing, the demand that we're experiencing and the conversations we're having from people all over the country. Our office is located in Flat Rock right next to the bakery. I mean just last week I had a conversation with a gentleman that was vacationing from Manhattan. I had conversations with people from Texas and from California. I mean we have conversations with people coming in from all over the country and this is no longer a secret. It's the distinct seasons, it's the kindness of the people they meet in the community, it's the wonderful downtown that we have in Hendersonville, all the outdoor activities, whether it's the hiking or the cycling or the camping or all the things that our area the waterfalls right. I mean the quality of life here.

Speaker 1:

People come here for the quality of life, they want to write their story, they want to move their dreams forward. We heard that a lot during the pandemic people moving their dreams forward, not waiting till retirement to retire. They wanted to decide and make their lives what they want now. And so we're seeing that, we're experiencing that. People are coming here, they're selling their homes and they're moving here. And on top of that, we're helping so many local people that people have been here in the community for decades and now they're deciding to hey, I want to get closer to the grandkids, or maybe I'm moving into a retirement community, maybe we're going to be doing just something different. Maybe you wanted to finally build that dream home.

Speaker 1:

New construction is still very strong. The demand for new construction is very healthy. We're seeing it across all price points and we're seeing the market move. If you don't come away from anything else from this morning is we have a healthy market, the demand is strong, it's a great time to sell. It's still a great time to buy and, by the way, if and when interest rates go lower, you can refinance. You can refinance and take advantage when the rates go down. If the rates go down dramatically here in the next three to six months, we're only going to see increased demand, which means increased demand means prices are going to go further, higher. The prices will go higher if the demand increases. And so the market is the market, the interest rates are the interest rates. Inventory is inventory, but this is where, when we work with our clients and navigate through the buying and selling process, we're here to provide clarity, we provide information, to create a path forward which is right for you. It's not about timing the market. It's not about timing the interest rates. You have to decide independently what's right for you.

Speaker 1:

And then, if you're curious, what your home is worth, we do a two-step approach. We do an initial consultation at the house. There's nuances to every house. No offense to our tax assessors, but we don't pay a lot of attention to the tax value. I know they're doing their jobs and, of course, everyone wants their tax value to be low and they want their market value to be high, but we don't put a lot of weight on tax value. We don't put any weight on the online reports of what your home is worth. We take an individual assessment of your home specific to your home the nuances, what improvements have you done, the size of your home, the location, the condition and then we go back and we do a report. We do our research specific to your home so that we can provide the best information, so that you can make a decision for what's right for you.

Speaker 1:

And we're going to shoot straight. You might not like the numbers, you might love the numbers, but we know we can tell you what the research says and don't shoot the messenger. And here's something I have to acknowledge 57 homes did price reductions in the last seven days. That means they started out too high and they did not sell days. That means they started out too high and they did not sell. Our goal is to price it out the gate as accurately as possible, to price it with what the market is doing. And, of course, have we had to do price reductions? Yes, do we try to make sure it's priced correctly from the beginning? Yes, and you as a seller have to decide where you want to test the market, what you want to try out, and you can decide. And again, the data is the data and in this market, understanding how to approach, where to price your home is critical and we want to walk alongside you. Price it correctly. You're going to get the most money for your home. The market's going to decide, no matter what the data says and no matter what you think or what your neighbor thinks, regardless of what you paid for.

Speaker 1:

Ultimately the biggest litmus test is putting your home on the market. And the National Association of Realtors says if you go two weeks or 10 showings without an offer, says, if you go two weeks or 10 showings without an offer, that's their historical standard, that they've always gone by over the last three, four decades. That if you go 10 days or 10 showings without an offer, their recommendation is hey, you might want to get ahead of it, make a price reduction and price your home. The price will cause your home to sell and it's the market that will tell you what your home is worth. Because when we put it on the market and we tell the 4,000 real estate agents across the Western North Carolina about your home for sale, when we tell the whole world that your home is for sale, when we do the incredible professional photography, when we do the work, when we put your home out there and do the marketing that we do to give the home the best exposure, and you combine it with the price, you combine it with the condition and you combine it with the location.

Speaker 1:

It's price, condition and location that cause a home to sell and then we tell the whole world about it. The market will talk back to us, and that's where, sometimes, you have to make adjustments. The goal, though, is to price it accurately and, again, what you're going to net, what you're going to put in your pocket after all the closing costs, the attorney fees, the taxes, the real estate fees, all the things that go into place. We're going to give you a clear picture of what you're going to walk away with, and that's where we're going to provide clarity so that we can help you if it's right for you, regardless of the interest rates, regardless of the economy, regardless of the election, regardless of there was a pandemic or not. You know, again, that seems so far away from where we are now, and I know it's impacted how we've lived our lives and how life looks now.

Speaker 1:

Put a lot of clarity and a lot of perspective on things, and you know, making sure that we're, you know, doing what's right for us and working through. You know, does it make sense for you to stay in your home, looking at things honestly and being candid about your situation? Is it right for you to sell? Is it not right for you to sell? We can hold space for that, just because you call us doesn't mean you're going to be selling it.

Speaker 1:

If you're just curious the process, if you're curious about what your home is worth, we'd love to interview you for the job. You can stop by our office at 2720 Greenville Highway. You can give us a call at 828-393-0134. You can find us online at realestatebygregcom. We have an incredible group of agents working at our office ready to help you, ready to walk alongside with you through the process, and whether you're selling land, whether you're selling a condo, whether you're selling a townhome, whether you want to go look at property, we'd love to interview you for the job. Like I said, we also podcast all of our radio shows.

Speaker 1:

We'd love to connect with you any way we can and it's a privilege and honor to serve the community through real estate and we've been doing this for a number of years. In my career we've helped over 1,400 families. Next year is my 20th year of having my broker's license serving the community through real estate. We have an incredible group of agents. We're growing and we'd love to connect with you any way we can. We're here every Monday morning. We're grateful to communicate about the community and the real estate market. But give us a call. We'd love to connect 828-393-0134. Have an amazing Monday and we'll see you next week week. Fall is just around the corner and it's the perfect time to fall in love with your new home, the George Rills State Group. We're here helping our clients find their perfect home. We're also helping our clients sell. It's a great time to sell and with this new season comes new opportunities.

Speaker 2:

You guys are seeing a lot of activity in the real estate market continued right.

Speaker 1:

The market is as strong as ever. The activity, the buyer activity. Buyers are buying, interest rates are falling, prices keep going up. The environment is wonderful to sell your home and to find the next perfect home.

Speaker 2:

Remember the George Real Estate Group podcast series available wherever you get your podcast, and you guys are in Flat Rock, north Carolina.

Speaker 1:

We serve all of Western North Carolina. We serve upstate South Carolina as well. Give us a call at 828-393-0134.

Speaker 2:

The George Real Estate Group has the experience of selling over 1,200 properties and serving over 1,200 families with their real estate needs in Henderson County and throughout western North Carolina. The George Real Estate Group is located in Flat Rock, north Carolina, near Hendersonville in Henderson County. You can find them online at realestatebygregcom. The George Real Estate Group can be reached at 828-393-0134 or stop by their office at 2720 Greenville Highway, flat Rock, north Carolina, carolina. Tune in live each week on Monday mornings at 9 0 5 on WTZQ FM 95.3 and 1600 AM or stream online at WTZQcom.