All Forum Posts by: Matt Payne

Super interesting to read about the Asheville market and people's perspectives 2 years ago. I am not sure the market peaked last last August that's for sure. I bet home values have gone up 15% in Buncombe County since then... But you just never know, that's why the whole timing the market is so hard to do. Interesting stuff..

I have some Buncombe County stats for you for November:

Average days on the market including all price points is 46 days, that is 21 days less than it was last November.

Sales price is averaging out at 99% of list price, and in the $400k-$500k price range the average sales price was over list price based on 112 homes going under contract.

There were 6% more homes listed this November than there was last November, so that's interesting.

Our team are helping 3 main categories of sellers and buyers right now.

Oh and by the way Buncombe County has 1.3 months of inventory right now.

People from the upper NE, Florida, CA relocating to the area.

People that have come to realize that they are paying so much in rent, that they can use these low rates, (working with someone right now that has 30 yr conventional at 2.4%) to buy a house and effectively pay the same or less that they were paying.

People wanting to capitalize on the market with their current home and are downsizing.

We have all been amazed on how red hot this sellers market has been and how long it has been maintained.

It really depends on how long the Fed and the powers that be keep kicking the low rates, the eviction ban and forbearance offerings down the road. 

@Jason Merchey probation... That's funny. But a lot of what you say is true.

HI @Angelo Pompeo you are not looking in the wrong area, there simply is not a lot of inventory. And things move brisk once they are listed. The contractor situation is just as tough, most are busy which is great for them, but it makes it hard to get on their calendar so to speak. And especially hard when they are being asked to bid jobs that they may or may not ever do. 

Shoot me a DM and let me know how I can assist from the agent side.

@Ted Davis Yes, city limits of Asheville have STR restrictions, but many have been grandfathered in. If you peruse airbnb you will see there are quite a few options out there for existing STR that are in the city limits and also spread out from downtown. I do not have a personal investment in STR, but I am working with a few investors now that are looking. What we are focusing on is a unique product that could separate itself from the existing hundreds and hundreds of options already available. The surrounding small towns all throughout Western NC are desirable for STR for many reasons, not everyone that comes to the area even wants to do downtown Asheville. And long story short with the relatively high prices of properties that are close to downtown, it only makes sense that investors are transitioning to the surrounding "less expensive" areas.

Great story is right! Congrats and good for you guys!

My One Thing: Ability to listen and understand EXACTLY what the client wants. Then deliver that.

Asheville, NC!

I relocated from Harbor Springs, MI about 4 years ago. 4 full seasons here in Asheville, all temperate and each lasting 3 months. Plenty of work and potential staff. If you need more summer, then Charleston is only 4 hours away. Plus Asheville airport having explosive growth. Look me up!

Thanks! Yes it helps to show just how fast buyers have to move and why it would be a great time to list for sellers.

Few and far between, We are having to get extremely specific on how we are searching, just looking for "good deals" is not enough, we are really digging into the motivations and goals of the investor to find out what makes sense. Knowing that, it helps to come up with some options.