September 23, 2025 • 29 mins
As autumn leaves begin to fall across Western North Carolina, the real estate market continues to show remarkable resilience and signs of positive change for both buyers and sellers. The latest data from Henderson County reveals a perfectly balanced market with 50 new listings and 48 homes going under contract in just the past week – a clear indicator that demand remains strong despite shifting economic conditions.
What's truly exciting is the newfound affordability entering the market. Mortgage rates have decreased from 7% earlier this year to around 6.3% nationally, with some buyers securing 20-year fixed rates in the low 5% range. This rate reduction, combined with wage growth outpacing home price appreciation, has lowered the typical monthly mortgage payment by approximately $290 compared to just months ago. The Mortgage Bankers Association reports this has triggered "the strongest week of borrower demand since 2022," with purchase applications running more than 20% ahead of last year.
For homeowners, there's tremendous equity opportunity to consider. National home prices have jumped nearly 54% over the past five years, creating an average of $300,000 in equity per homeowner. This substantial wealth buildup offers flexibility whether you're looking to rightsize, upgrade, or leverage your investment for other goals. As we reflect on our community's resilience one year after Hurricane Helene, we're reminded that thoughtful, informed real estate decisions can open doors to exciting new chapters. Whether you're dreaming bigger about your next move or simply curious about your home's current value, we're here to provide clarity without pressure or obligation. Your unique situation deserves personalized attention – call us at 828-393-0134 to explore your options with Western North Carolina's trusted real estate experts.
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Episode Transcript
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Speaker 1 (00:00):
Hello friends, thank you so much for being here.
This is the George Real EstateGroup podcast, which is a
production of our live weeklyradio shows hosted on multiple
radio stations here inHendersonville, north Carolina.
The George Real Estate Groupserves Western North Carolina
and upstate South Carolina andit is a privilege to share
positive news about our localreal estate market and community
(00:23):
.
Thanks so much for subscribingand, of course, if you have any
real estate questions or if wecan help you in any way, be sure
to reach out.
Visit us atgeorgerrealestategroupradiocom
for more information.
Good morning and welcome to theGeorge Real Estate Group live
radio broadcast here in thequeue every Monday morning.
(00:44):
So thankful to be here with youthe first day of fall or autumn
, if that's how you want to be.
It is not a lugubrious daytoday.
It is a beautiful day today.
You see what I did there, butagain, it is a beautiful day,
(01:05):
first day of fall, and so muchto be thankful for.
Wow, time flies when you'rehaving fun.
Here we are, september's almostover, we're less than 100 days
to Christmas and wow, time'sflying when you're having fun
and we're just so thankful to behere with you every Monday
morning and sharing with youpositive news about your local
real estate market and communityand we'll dive into what's
going on in the community,what's going on into the market
(01:28):
A lot of things to talk aboutthis morning.
And if you're tuning in for thefirst time ever, the George
Real Estate Group, we're locatedin Flat Rock, right next to the
Flat Rock Bakery, hubba HubbaBarbecue, campfire Grill, our
friends at Hubba Lou and theWrinkled Egg, and we're located
there on Rainbow Row.
We serve all of Western NorthCarolina and the upstate South
(01:48):
Carolina and if you're thinkingof buying, selling or investing
in real estate or a career inreal estate, we'd love to have
the conversation.
You can call us directly at828-393-0134, 828-393-0134.
Find us online atrealestatebygregcom.
You can also follow us onsocial media Facebook and
Instagram.
We also podcast our radio show.
(02:09):
You can follow us on yourfavorite podcast platform and
just love to connect with you.
The market continues to move andwe'll give you a quick snapshot
of what's happening herelocally.
In the last seven days inHenderson County there's been 50
new listings.
There's been a continuedpattern of price drops.
(02:32):
There's also been a steadydemand.
I mean there's been 48 homes gounder contract.
Isn't that interesting?
The last seven days 50 newlistings, 48 homes went under
contract, so almost just a washthere and then 32 homes closed.
There's this time of year.
You'll see more homes closetowards the end of the month,
(02:53):
but the market remains strongand we look and see what's
happened.
I mean following the numbers.
I mean over the last year todate.
Now I know we're coming up pastor close to the end of September
, but through the end of Augustin Henderson County in Henderson
County through the end ofAugust we've actually had an 11%
(03:14):
increase in new listings.
We've had a 2.5% increase inpending sales.
We've had a 3% increase inclosed sales Over the last 12
months.
In Henderson County we'reaveraging some 125 single-family
homes a month selling and Iremind you, I'm referring to
(03:36):
single-family homes wherethere's a significant amount of
condos and townhomes and landand commercial and in those type
properties that we're sellingas well.
But using single family homesas the barometer.
But there has been an increaseof 3% number of closed sales in
Henderson County through the endof August compared to the
(03:56):
previous time frame.
The median sales price is atthrough the end of August is at
$ $5.46, which is only a 0.1%drop.
I mean it's not even a 1% drop.
It's basically essentially thesame.
And then the average salesprice.
(04:18):
The average sales price overthe last 12 months is in the $5
530s.
The average sales price if youlook over the through the end of
August is at 514, which is lessthan a 1% drop compared to the
same time period before.
One of the biggest observationsis the percentage of the
original asking price to thesales price is at 95.2%.
(04:42):
So when you look at what peopleare asking versus what they're
actually selling for, sellersare coming off their prices.
I mean in a couple years ago Imean it was closer to 100%, 99%
it was 100%.
In some cases it was over.
100% was the average salesprice to.
You know, asking price to salesprice received.
(05:03):
Now you know sellers do feelthe competition.
So sellers are coming off theirprices a little bit.
Buyers have a little bit moreflexibility in negotiating room.
Part of that is because days onmarket's increasing, buyers
have more choices.
I mean now the days on marketis increased over 37%.
(05:24):
The days on the market until itgoes under contract is at 62
days.
Cumulative days is at 69 days.
It's up some 40%.
And then the days till the homeactually close is up 17%.
That number's at 114 days.
But you know, it's justinteresting.
We're watching what's happeningover the Henderson County.
(05:47):
The interest rates now that'sbeen the news for sure.
The interest rates have comedown and that's giving some
buyers some flexibility.
I mean I heard last week abuyer was able to lock in a
20-year fixed rate in the lowfives.
I mean that's a significantimprovement.
(06:09):
You know there's a lot ofbuyers have just more affordable
.
There's affordability.
That happens with these lowerinterest rates.
Now don't confuse the federalrate with the mortgage rates.
The Fed rate is not the same asthe mortgage rates, but
(06:29):
affordability is finally showingsigns of improvement this fall.
This is interesting.
The latest data from Redfinshowed the typical monthly
mortgage payment has been comingdown and it is now $290 lower
than it was just a few monthsago.
So why is that happening?
(06:51):
Well, it's the mortgage rates,it's the home prices, it's wages
.
So right now all three arefinally moving in a better
direction for the buyer and itcertainly doesn't mean all of a
sudden it's easier to buy attoday's rates and prices, but it
just means it's softening.
It's not as challenging.
(07:12):
Mortgage rates have come downcompared to earlier this year.
In May they were roughly 7% andnow nationally they're closer
to 6.3%, and it doesn't soundlike a lot, but it does matter.
Even the small change in therates can make a big difference
(07:34):
in buyers' future mortgagepayments, and so the difference
between 7% and a 6.3% rate on a$400,000 home is about close to
$200 less based on just ratesalone, and for some people
that's enough to get back intothe home buying mindset.
(07:58):
And there was a quote from theMortgage Bankers Association
that said this the downward ratemovement spurred the strongest
week of borrower demand since2022.
Purchase applications increasedto the highest level since July
and continued to run more than20% ahead of last year.
(08:22):
20% ahead of last year.
And then also nationally.
After several years of pricesrising rapidly, price growth has
finally slowed.
And then a quote from the chiefdeputy chief economist at First
American said this nationalhome price growth remains
positive, but he used the wordmuted low single digits, and we
(08:44):
expect this trend to continuethe second half of the year.
So for buyers it's a big relief.
I mean and don't get me wrongif you're a seller, the sky is
not falling.
Prices I shared with you yearto date through the end of
August in Henderson County wasless than a 1% change.
So, from a buyer perspective,the prices not having those
(09:05):
double-digit appreciations isgiving some buyers some relief,
but it doesn't mean the sky'sfalling as a seller.
So again, whether you're buyingor selling, I mean the market
is the market, and that's whereus talking and us sharing about
what your options are, whetheras a buyer or seller, absolutely
matter.
And then another interestingthing wages.
(09:26):
According to the Bureau ofLabor Statistics, wages are up
near 4% annually, and so that'sa big deal too that your typical
paycheck is rising faster thanhome prices, which is
interesting, which can help buyand which does help with
affordability.
It's not a big difference, butof course, in life every bit
counts, and so the lower rates,the slower price growth and the
(09:52):
stronger wages could be enoughfor a buyer to make something
work, and so, whileaffordability is still tight,
it's a little easier on yourwallet than it was a few months
ago.
So, according to the Redfindata, the typical monthly
mortgage payments is alreadyaround $290 lower than it was
(10:14):
earlier this year.
So whether it's your personalhome you're thinking of buying
or selling, or it's aninvestment property, or maybe
it's a part of your estate thatyou're inheriting or selling, or
maybe it's an investmentproperty.
Whatever it is your uniquesituation, your unique home.
We'd love to have theconversation.
We have incredible agents atthe George Real Estate Group, we
(10:35):
have incredible staff and we'dlove to have the conversation.
There's no pressure, there's nocost, there's no obligation.
You can give us a call at828-393-0134, 828-393-0134.
We love having consultationsand you might be thinking, hey,
this could be six or 12 monthsfrom now.
(10:55):
It's never too early to havethe conversation, to plan ahead.
We provide clarity, we provideinformation so that you can
decide what's right andultimately, most of our
questions that we get people arecurious what's my home worth?
You know it's one thing to lookI mean no offense to the tax
assessor's office in HendersonCounty but you know the tax
(11:18):
assessment is not what your homeis worth.
No offense to Zillow.
Your home is not worth whatZillow tells you it's worth.
You know you're a unique home.
You're the condition, thelocation, the improvements
you've made.
You know the reality is Zillow.
Nor the tax assessor has beeninside your home.
And so we take a two-stepapproach at the George Real
(11:40):
Estate Group You're home and wedo an initial consultation and
then we go back and do ourresearch to see what other
similar age, similar location,similar size homes have been
selling for, and we look at whatyour competition is.
And so it's not an exactscience, but we certainly love
having the consultations withour clients to provide
(12:03):
information as to what your homeis worth, and so it's something
.
Here's the thing if you want toknow something important, you
probably should get aprofessional to check in on it.
It's and you probably just like.
If you want to know somethingimportant about your health,
you're going to talk to aprofessional.
You want to know somethingabout your finances, you're
(12:24):
going to talk to a professional.
You want to know somethingabout your finances, you're
going to talk to a professional.
If you want to know what yourbiggest financial asset is worth
, which is most likely yourhouse, if you want to know what
it's worth, you might want totalk to a professional.
So again, equity is what yourhome, the difference between
(12:44):
what you owe on your home andmaybe you don't owe anything on
your home.
Over 30% of homeowners havetheir homes paid off.
Over 50% of homeowners in theUnited States have over 50% of
equity.
But the difference between whatyour home is worth today and
what you still owe on it, if youowe anything, and so that's
what's called equity.
And so equity grows over timeas your home prices go up.
(13:06):
And if you're making monthlymortgage payments, you're paying
that mortgage down.
So let's say your home is worth$600,000 and you have $200,000
left on your loan payoff.
That means you have $400,000 inequity.
So, according to totality, theaverage homeowner actually in
(13:26):
the United States has about$300,000 in equity.
And why you probably have morethan you think is because, you
know, over the last five yearsin the United States home prices
have jumped nearly 54%.
(13:47):
That's significant.
And so again, your unique home,your unique situation.
We do a home value analysis foryou, and again, there's no
pressure, there's no cost to dothat.
We're going to dive more intothese numbers right after the
break.
You're listening to the GeorgeReal Estate Group live radio
broadcast here in the queue onevery Monday morning.
(14:08):
What a beautiful day.
It is the first day of fall andagain so thankful to be here
with you.
If you would like to call us,you can call us directly at
828-393-0134.
You can stop by our officethere at 2720 Greenville Highway
.
But stay tuned in.
We have more information rightafter the break.
Good, but stay tuned in.
We have more information rightafter the break.
Good morning and welcome back.
(14:30):
You're listening to the GeorgiaReal Estate Group live radio
broadcast here in the queue.
I was just reflecting.
It's amazing to think back.
This coming Saturday is a yearsince Helene and so much has
transpired and there's still somuch to—that's still so much
(14:51):
work to be done and so much ofour community is still
recovering.
And then there's so much thatare quote unquote, back to
normal.
But you know, we continue toremember in our thoughts and
prayers to those that are stillrecovering and how life is just
different, those that are stillrecovering and how life is just
different.
But this coming Saturday, theone-year anniversary of Helene
it's amazing, the resiliencethough I mean.
(15:11):
We certainly saw just how ourcommunity came together
neighbors helping neighbors, thenonprofits, the communities,
just everyone stepping up andhow the response was.
And I know everybody's gottheir Helene story that they
think about and they share andthey can relate to those that
experienced that together, thatshared experience that we had
(15:33):
together.
It's wild that we're coming upon a year from that Time just
keeps moving forward andcertainly want to pause and
remember that.
We'll talk more about that nextweek as well.
So the market.
It's so interesting.
In the last five years we'vehad a 54% nationwide increase,
(15:59):
which is significant.
Your home is likely worth muchmore than when you first bought
it because of just how theprices have climbed over time.
And so you know if you'reworried that the prices are
flattening or if prices arecoming down in some markets,
just know, if you've been inyour home for a few years or
(16:21):
more, it's likely that you haveenough equity to sell and still
come out ahead Again.
Your unique situation, yourunique home.
This is so interesting.
Homeowners are living in theirhomes longer.
This is something that theNational Association of Realtors
reports.
(16:41):
The average homeowner stays intheir home for about 10 years
now.
This is, and that's longer thanit used to be.
And over that decade you'vebuilt equity just by making your
mortgage payment and riding thewave of rising home the home
(17:03):
values.
From 1985 to 2008, the averagetenure in a home was six years,
but from 2009 through 2024, theaverage tenure was 9.25 years.
So just by staying in your homemaking the mortgage payments.
(17:27):
This is interesting.
The financial side of homeownership is about playing the
long game.
Of course, there's going to beups and downs, and I'm not
minimizing the ups and downs ofthe economy, not minimizing the
ups and downs of the stockmarket, but not worrying about
(17:49):
the little ups and downs in themarket here and there.
And here's the thing Over timeand the longer you're in your
home, it means you're winning.
So we know, historically, homeprices appreciate.
We saw firsthand even thepeople that bought in the
previous housing bubble thatexperienced significant loss.
(18:12):
On paper you only lost money ifyou sold it.
But the recovery, and not justrecovery the rocket trajectory
of where home prices went,trajectory of where home prices
went.
It's so funny if you look backin time and say, wow, the bubble
that we experienced here andthe peak of the market in 2007,
(18:35):
2008,.
And then the crash and thedecline in the bottom of the
market in 2011.
Guess what?
Even if you bought at the topof the market previously and you
stayed in your home, you stayedin your home when it was down
and you still were living yourlife, still making those
mortgage payments.
But if you stayed in that homelong-term and then you're
(18:56):
sitting in your home today, thesignificant appreciation that
you've had surpassing theprevious bubble.
So again, if you're one ofthose people who that's been in
your home for a bit.
Over just the past decade, thetypical homeowner has
accumulated $200,000 in wealthsolely from price appreciation.
(19:20):
So what can you do with that?
I mean you can continue to stayin your home, build equity.
Also, it could be a tool tounlock your next big move.
I mean you can use it to helpbuy your next home.
Your equity could help you tocover the down payment on your
next home.
In some cases, it could be yourentire next home because, again
(19:44):
, significant number of clientshave their homes paid off and so
you can purchase your nexthouse all in cash.
You could also use the equityto renovate your current house
to better suit your life.
Now Maybe you need to plan forlong-term stay in your home.
Stay in your home, and so itcould be a strategic move about
(20:10):
your projects to add even morevalue to your home if you decide
to sell later on.
Also, some people use theequity in their home to start
the business they've alwaysdreamed of.
Your equity could be exactlywhat you need for startup costs,
a bet on yourself, equipment orsoftware or marketing.
It could increase your earningpotential, so getting another
financial boost.
(20:30):
So, again, the likelihood isyour home's worth more than what
you paid for, depending on howlong you've been in your home.
And so if you're curious aboutyour home's worth, we'll run the
numbers, we'll give you aprofessional equity assessment
report so you know what you'redealing with and again, you can
decide.
Maybe just get the informationand you just feel good about
(20:54):
just knowing what you have there.
It's options that you have.
Again, it's options that youhave to decide what you want to
do with it.
I love quotes, and I saw somequotes about goals and dreaming
big.
This is a quote actually fromMichelangelo.
Most people don't fail becausethey aim too high and miss, but
(21:19):
because they aim too low and hit.
Isn't that a good one?
Dan Sullivan said this yourfuture is bigger than your
present.
Your present is bigger thanyour past if you decide it to be
.
And then Gary Keller said thisif you're going to dream, dream
big.
It's no harder than dreamingsmall, dreaming big and I'm a
(21:43):
big fan of dreaming big.
And again, why goals matter.
You know, if you don't have agoal, you don't know where
you're aiming, and if you don'tset your own goals, you'll end
up working for someone else's,you know.
So, deciding what your goalsare, deciding what you want your
life to look like, but for alot of people, people set their
(22:03):
goals too small.
They don't excite them.
A lot of people set, people settheir goals too small.
They don't that don't excitethem.
A lot of people set goals thatare just too big.
Sorry, too vague.
You know I want to, I want tomake more money, but but how
much and doing what and by when?
And then a lot of people setgoals that are too safe.
You know they set goals, theyalready know how to achieve.
(22:24):
But you know, if your goal isto do what you did last year,
plus a little bit more, that'snot growth, that's just
maintenance.
So it's something to thinkabout, thinking about, maybe
dreaming big, whether it's apersonal goal or a business goal
, or a financial goal or ahealth goal.
Thinking bigger.
(22:45):
But goals, they recommend themto be SMART, and maybe you've
heard the acronym for SMARTSpecific, measurable, achievable
, relevant and time-bound.
And so the thing is, goals areboth big enough vision that
inspires you, but also smartsteps to get you there.
(23:10):
And so this is where your goalsand your standards.
If your goal is to run amarathon.
You have to become a runner.
I heard from a fitness coachabout goals and about people say
I want to get healthy and youhave to become the type of
person that's gonna accomplishthat goal and and this is such a
(23:32):
I heard this and I was likethis is so fascinating to me.
He had a client that waswanting to get healthy and part
of the part of that was settingup a Habit of going to the gym
and showing up to the gym andworking out every single day,
while the coach and the coachsaid to the client I want you to
get ready the night before, Iwant you to get ready in the
(23:52):
morning, I want you to get inyour car and I want you to go to
the gym.
But guess what, for the first90 days, all I want you to do is
actually go to the gym everymorning.
I don't want you to work out.
You might think that'sabsolutely crazy, but the point
the coach was doing with theirclient was they wanted to build
the habit of just showing up.
(24:14):
For so many of us, it's okay youget to the gym and you're going
to work out, but if you don'tdo it consistently, if you don't
do it as a habit.
If you don't even show up tothe gym to say that you're going
to work out every day, if youcan't master the first goal of
showing up to the gym, thenworking out at the gym is not
going to work out every day.
If you can't master the firstgoal of showing up to the gym,
then working out of the gym isnot going to matter.
I heard the famous basketballcoach.
(24:36):
He literally taught his playershow to tie their shoes.
It's the foundational habitsthat you work on before you get
to do the next part.
So again, you don't get yourgoals, you get your standards,
and so you raise your identity.
And again, if your identity, ifyour goal is to run a marathon,
(24:57):
you have to become a runner.
So another interesting thing isaccountability.
People hit bigger goals whenyou share them with others.
Accountability creates followthrough.
You know you don't drift intosuccess, you're held to it.
You know, when you share yourgoals and you have that
transparency, there can be magicin the accountability.
(25:20):
So when you look at your life,whether it's your finances, your
health, your business, yourrelationships, you know maybe
where are you playing too smallwith your goals.
And if you were to think biggerand dream bigger and I love
this quote.
Most people overestimate whatthey can do in a year,
overestimate and theyunderestimate what they can do
(25:42):
in three years.
So don't just set goals thatget you through the year.
Set goals that can create alife worth living.
And it matters, how we thinkabout things, who you surround
yourself with.
You're the average of the fivepeople that you surround
yourself with and, again,because when you're hanging out
with healthy people, you can'thelp but be influenced to be
healthier.
If you hang out with peoplethat are, maybe your goal is to
(26:05):
be more faith-based, you hangout with other faith-based
people.
That's gonna influence you.
You wanna hang out with otherfaith-based people.
That's going to influence you.
You want to hang out with otherfinancially wise people.
That's going to influence you.
Again, you want to hang out andsurround yourself with others
that think the way you want tothink and go to where you're
going.
I joke that if I'm the smartestperson in the room, I'm in the
wrong room.
I don't want to be in thoserooms.
I want to be in rooms where Ican be encouraged, rooms that
(26:27):
can be driven and held throughwith accountability and working
towards where I want to go.
So again, most people don'tfail because they aim too high
and miss.
They fail because they aim toolow and hit.
So I encourage you to dream big, to think big.
(26:48):
I always love theseconversations and if you want to
have the conversation, maybeyou thought about a career in
real estate.
We'd love to have theconversation.
If you maybe thought you'rethinking about buying or selling
or investing in real estate,we'd love to have that
conversation.
But we're here every Mondaymorning sharing with you
positive news about your localreal estate market community.
Thank you so much for tuning in.
Of course, give us a call828-393-0134.
(27:11):
Happy first day of fall andwe'll see you next Monday.
Maybe the house feels a littletoo big these days, the stairs a
little steeper, the pace oflife a little too fast.
But what if your next movewasn't about letting go?
It was about making space forpeace, for freedom, for what
(27:35):
matters most.
At the George Real Estate Group, we understand that real estate
isn't just about the house.
It's about transitions, timingand trust.
We've helped thousands offamilies in Western North
Carolina make smart, thoughtfulmoves Closer to nature, closer
to family, closer to home.
So when you're ready to right,size, simplify or start fresh.
(27:59):
We'll be here.
The George Real Estate Group,local, trusted, proven.
Call us today, 828-393-0134.
Find us online atrealestatebygregcom, because
your next chapter deserves tofeel just right.
Speaker 2 (28:16):
The George Real Estate Group has the experience
of selling over 1,200 propertiesand serving over 1,200 families
with their real estate needs inHenderson County and throughout
Western North Carolina realestate needs in Henderson County
and throughout Western NorthCarolina.
The George Real Estate Group islocated in Flat Rock, North
Carolina, near Hendersonville inHenderson County.
(28:37):
You can find them online atrealestatebygregcom.
The George Real Estate Groupcan be reached at 828-393-0134
or stop by their office at 2720Greenville Highway, Flat Rock,
North Carolina.
Tune in live each week onMonday mornings at 9.05 on WTZQ
(29:00):
FM 95.3 and 1600 AM or streamonline at WTZQcom.
Hello friends, thank you so much for being here.
This is the George Real EstateGroup podcast, which is a
production of our live weeklyradio shows hosted on multiple
radio stations here inHendersonville, north Carolina.
The George Real Estate Groupserves Western North Carolina
and upstate South Carolina andit is a privilege to share
positive news about our localreal estate market and community
(00:23):
.
Thanks so much for subscribingand, of course, if you have any
real estate questions or if wecan help you in any way, be sure
to reach out.
Visit us atgeorgerrealestategroupradiocom
for more information.
Good morning and welcome to theGeorge Real Estate Group live
radio broadcast here in thequeue every Monday morning.
(00:44):
So thankful to be here with youthe first day of fall or autumn
, if that's how you want to be.
It is not a lugubrious daytoday.
It is a beautiful day today.
You see what I did there, butagain, it is a beautiful day,
(01:05):
first day of fall, and so muchto be thankful for.
Wow, time flies when you'rehaving fun.
Here we are, september's almostover, we're less than 100 days
to Christmas and wow, time'sflying when you're having fun
and we're just so thankful to behere with you every Monday
morning and sharing with youpositive news about your local
real estate market and communityand we'll dive into what's
going on in the community,what's going on into the market
(01:28):
A lot of things to talk aboutthis morning.
And if you're tuning in for thefirst time ever, the George
Real Estate Group, we're locatedin Flat Rock, right next to the
Flat Rock Bakery, hubba HubbaBarbecue, campfire Grill, our
friends at Hubba Lou and theWrinkled Egg, and we're located
there on Rainbow Row.
We serve all of Western NorthCarolina and the upstate South
(01:48):
Carolina and if you're thinkingof buying, selling or investing
in real estate or a career inreal estate, we'd love to have
the conversation.
You can call us directly at828-393-0134, 828-393-0134.
Find us online atrealestatebygregcom.
You can also follow us onsocial media Facebook and
Instagram.
We also podcast our radio show.
(02:09):
You can follow us on yourfavorite podcast platform and
just love to connect with you.
The market continues to move andwe'll give you a quick snapshot
of what's happening herelocally.
In the last seven days inHenderson County there's been 50
new listings.
There's been a continuedpattern of price drops.
(02:32):
There's also been a steadydemand.
I mean there's been 48 homes gounder contract.
Isn't that interesting?
The last seven days 50 newlistings, 48 homes went under
contract, so almost just a washthere and then 32 homes closed.
There's this time of year.
You'll see more homes closetowards the end of the month,
(02:53):
but the market remains strongand we look and see what's
happened.
I mean following the numbers.
I mean over the last year todate.
Now I know we're coming up pastor close to the end of September
, but through the end of Augustin Henderson County in Henderson
County through the end ofAugust we've actually had an 11%
(03:14):
increase in new listings.
We've had a 2.5% increase inpending sales.
We've had a 3% increase inclosed sales Over the last 12
months.
In Henderson County we'reaveraging some 125 single-family
homes a month selling and Iremind you, I'm referring to
(03:36):
single-family homes wherethere's a significant amount of
condos and townhomes and landand commercial and in those type
properties that we're sellingas well.
But using single family homesas the barometer.
But there has been an increaseof 3% number of closed sales in
Henderson County through the endof August compared to the
(03:56):
previous time frame.
The median sales price is atthrough the end of August is at
$ $5.46, which is only a 0.1%drop.
I mean it's not even a 1% drop.
It's basically essentially thesame.
And then the average salesprice.
(04:18):
The average sales price overthe last 12 months is in the $5
530s.
The average sales price if youlook over the through the end of
August is at 514, which is lessthan a 1% drop compared to the
same time period before.
One of the biggest observationsis the percentage of the
original asking price to thesales price is at 95.2%.
(04:42):
So when you look at what peopleare asking versus what they're
actually selling for, sellersare coming off their prices.
I mean in a couple years ago Imean it was closer to 100%, 99%
it was 100%.
In some cases it was over.
100% was the average salesprice to.
You know, asking price to salesprice received.
(05:03):
Now you know sellers do feelthe competition.
So sellers are coming off theirprices a little bit.
Buyers have a little bit moreflexibility in negotiating room.
Part of that is because days onmarket's increasing, buyers
have more choices.
I mean now the days on marketis increased over 37%.
(05:24):
The days on the market until itgoes under contract is at 62
days.
Cumulative days is at 69 days.
It's up some 40%.
And then the days till the homeactually close is up 17%.
That number's at 114 days.
But you know, it's justinteresting.
We're watching what's happeningover the Henderson County.
(05:47):
The interest rates now that'sbeen the news for sure.
The interest rates have comedown and that's giving some
buyers some flexibility.
I mean I heard last week abuyer was able to lock in a
20-year fixed rate in the lowfives.
I mean that's a significantimprovement.
(06:09):
You know there's a lot ofbuyers have just more affordable
.
There's affordability.
That happens with these lowerinterest rates.
Now don't confuse the federalrate with the mortgage rates.
The Fed rate is not the same asthe mortgage rates, but
(06:29):
affordability is finally showingsigns of improvement this fall.
This is interesting.
The latest data from Redfinshowed the typical monthly
mortgage payment has been comingdown and it is now $290 lower
than it was just a few monthsago.
So why is that happening?
(06:51):
Well, it's the mortgage rates,it's the home prices, it's wages
.
So right now all three arefinally moving in a better
direction for the buyer and itcertainly doesn't mean all of a
sudden it's easier to buy attoday's rates and prices, but it
just means it's softening.
It's not as challenging.
(07:12):
Mortgage rates have come downcompared to earlier this year.
In May they were roughly 7% andnow nationally they're closer
to 6.3%, and it doesn't soundlike a lot, but it does matter.
Even the small change in therates can make a big difference
(07:34):
in buyers' future mortgagepayments, and so the difference
between 7% and a 6.3% rate on a$400,000 home is about close to
$200 less based on just ratesalone, and for some people
that's enough to get back intothe home buying mindset.
(07:58):
And there was a quote from theMortgage Bankers Association
that said this the downward ratemovement spurred the strongest
week of borrower demand since2022.
Purchase applications increasedto the highest level since July
and continued to run more than20% ahead of last year.
(08:22):
20% ahead of last year.
And then also nationally.
After several years of pricesrising rapidly, price growth has
finally slowed.
And then a quote from the chiefdeputy chief economist at First
American said this nationalhome price growth remains
positive, but he used the wordmuted low single digits, and we
(08:44):
expect this trend to continuethe second half of the year.
So for buyers it's a big relief.
I mean and don't get me wrongif you're a seller, the sky is
not falling.
Prices I shared with you yearto date through the end of
August in Henderson County wasless than a 1% change.
So, from a buyer perspective,the prices not having those
(09:05):
double-digit appreciations isgiving some buyers some relief,
but it doesn't mean the sky'sfalling as a seller.
So again, whether you're buyingor selling, I mean the market
is the market, and that's whereus talking and us sharing about
what your options are, whetheras a buyer or seller, absolutely
matter.
And then another interestingthing wages.
(09:26):
According to the Bureau ofLabor Statistics, wages are up
near 4% annually, and so that'sa big deal too that your typical
paycheck is rising faster thanhome prices, which is
interesting, which can help buyand which does help with
affordability.
It's not a big difference, butof course, in life every bit
counts, and so the lower rates,the slower price growth and the
(09:52):
stronger wages could be enoughfor a buyer to make something
work, and so, whileaffordability is still tight,
it's a little easier on yourwallet than it was a few months
ago.
So, according to the Redfindata, the typical monthly
mortgage payments is alreadyaround $290 lower than it was
(10:14):
earlier this year.
So whether it's your personalhome you're thinking of buying
or selling, or it's aninvestment property, or maybe
it's a part of your estate thatyou're inheriting or selling, or
maybe it's an investmentproperty.
Whatever it is your uniquesituation, your unique home.
We'd love to have theconversation.
We have incredible agents atthe George Real Estate Group, we
(10:35):
have incredible staff and we'dlove to have the conversation.
There's no pressure, there's nocost, there's no obligation.
You can give us a call at828-393-0134, 828-393-0134.
We love having consultationsand you might be thinking, hey,
this could be six or 12 monthsfrom now.
(10:55):
It's never too early to havethe conversation, to plan ahead.
We provide clarity, we provideinformation so that you can
decide what's right andultimately, most of our
questions that we get people arecurious what's my home worth?
You know it's one thing to lookI mean no offense to the tax
assessor's office in HendersonCounty but you know the tax
(11:18):
assessment is not what your homeis worth.
No offense to Zillow.
Your home is not worth whatZillow tells you it's worth.
You know you're a unique home.
You're the condition, thelocation, the improvements
you've made.
You know the reality is Zillow.
Nor the tax assessor has beeninside your home.
And so we take a two-stepapproach at the George Real
(11:40):
Estate Group You're home and wedo an initial consultation and
then we go back and do ourresearch to see what other
similar age, similar location,similar size homes have been
selling for, and we look at whatyour competition is.
And so it's not an exactscience, but we certainly love
having the consultations withour clients to provide
(12:03):
information as to what your homeis worth, and so it's something
.
Here's the thing if you want toknow something important, you
probably should get aprofessional to check in on it.
It's and you probably just like.
If you want to know somethingimportant about your health,
you're going to talk to aprofessional.
You want to know somethingabout your finances, you're
(12:24):
going to talk to a professional.
You want to know somethingabout your finances, you're
going to talk to a professional.
If you want to know what yourbiggest financial asset is worth
, which is most likely yourhouse, if you want to know what
it's worth, you might want totalk to a professional.
So again, equity is what yourhome, the difference between
(12:44):
what you owe on your home andmaybe you don't owe anything on
your home.
Over 30% of homeowners havetheir homes paid off.
Over 50% of homeowners in theUnited States have over 50% of
equity.
But the difference between whatyour home is worth today and
what you still owe on it, if youowe anything, and so that's
what's called equity.
And so equity grows over timeas your home prices go up.
(13:06):
And if you're making monthlymortgage payments, you're paying
that mortgage down.
So let's say your home is worth$600,000 and you have $200,000
left on your loan payoff.
That means you have $400,000 inequity.
So, according to totality, theaverage homeowner actually in
(13:26):
the United States has about$300,000 in equity.
And why you probably have morethan you think is because, you
know, over the last five yearsin the United States home prices
have jumped nearly 54%.
(13:47):
That's significant.
And so again, your unique home,your unique situation.
We do a home value analysis foryou, and again, there's no
pressure, there's no cost to dothat.
We're going to dive more intothese numbers right after the
break.
You're listening to the GeorgeReal Estate Group live radio
broadcast here in the queue onevery Monday morning.
(14:08):
What a beautiful day.
It is the first day of fall andagain so thankful to be here
with you.
If you would like to call us,you can call us directly at
828-393-0134.
You can stop by our officethere at 2720 Greenville Highway
.
But stay tuned in.
We have more information rightafter the break.
Good, but stay tuned in.
We have more information rightafter the break.
Good morning and welcome back.
(14:30):
You're listening to the GeorgiaReal Estate Group live radio
broadcast here in the queue.
I was just reflecting.
It's amazing to think back.
This coming Saturday is a yearsince Helene and so much has
transpired and there's still somuch to—that's still so much
(14:51):
work to be done and so much ofour community is still
recovering.
And then there's so much thatare quote unquote, back to
normal.
But you know, we continue toremember in our thoughts and
prayers to those that are stillrecovering and how life is just
different, those that are stillrecovering and how life is just
different.
But this coming Saturday, theone-year anniversary of Helene
it's amazing, the resiliencethough I mean.
(15:11):
We certainly saw just how ourcommunity came together
neighbors helping neighbors, thenonprofits, the communities,
just everyone stepping up andhow the response was.
And I know everybody's gottheir Helene story that they
think about and they share andthey can relate to those that
experienced that together, thatshared experience that we had
(15:33):
together.
It's wild that we're coming upon a year from that Time just
keeps moving forward andcertainly want to pause and
remember that.
We'll talk more about that nextweek as well.
So the market.
It's so interesting.
In the last five years we'vehad a 54% nationwide increase,
(15:59):
which is significant.
Your home is likely worth muchmore than when you first bought
it because of just how theprices have climbed over time.
And so you know if you'reworried that the prices are
flattening or if prices arecoming down in some markets,
just know, if you've been inyour home for a few years or
(16:21):
more, it's likely that you haveenough equity to sell and still
come out ahead Again.
Your unique situation, yourunique home.
This is so interesting.
Homeowners are living in theirhomes longer.
This is something that theNational Association of Realtors
reports.
(16:41):
The average homeowner stays intheir home for about 10 years
now.
This is, and that's longer thanit used to be.
And over that decade you'vebuilt equity just by making your
mortgage payment and riding thewave of rising home the home
(17:03):
values.
From 1985 to 2008, the averagetenure in a home was six years,
but from 2009 through 2024, theaverage tenure was 9.25 years.
So just by staying in your homemaking the mortgage payments.
(17:27):
This is interesting.
The financial side of homeownership is about playing the
long game.
Of course, there's going to beups and downs, and I'm not
minimizing the ups and downs ofthe economy, not minimizing the
ups and downs of the stockmarket, but not worrying about
(17:49):
the little ups and downs in themarket here and there.
And here's the thing Over timeand the longer you're in your
home, it means you're winning.
So we know, historically, homeprices appreciate.
We saw firsthand even thepeople that bought in the
previous housing bubble thatexperienced significant loss.
(18:12):
On paper you only lost money ifyou sold it.
But the recovery, and not justrecovery the rocket trajectory
of where home prices went,trajectory of where home prices
went.
It's so funny if you look backin time and say, wow, the bubble
that we experienced here andthe peak of the market in 2007,
(18:35):
2008,.
And then the crash and thedecline in the bottom of the
market in 2011.
Guess what?
Even if you bought at the topof the market previously and you
stayed in your home, you stayedin your home when it was down
and you still were living yourlife, still making those
mortgage payments.
But if you stayed in that homelong-term and then you're
(18:56):
sitting in your home today, thesignificant appreciation that
you've had surpassing theprevious bubble.
So again, if you're one ofthose people who that's been in
your home for a bit.
Over just the past decade, thetypical homeowner has
accumulated $200,000 in wealthsolely from price appreciation.
(19:20):
So what can you do with that?
I mean you can continue to stayin your home, build equity.
Also, it could be a tool tounlock your next big move.
I mean you can use it to helpbuy your next home.
Your equity could help you tocover the down payment on your
next home.
In some cases, it could be yourentire next home because, again
(19:44):
, significant number of clientshave their homes paid off and so
you can purchase your nexthouse all in cash.
You could also use the equityto renovate your current house
to better suit your life.
Now Maybe you need to plan forlong-term stay in your home.
Stay in your home, and so itcould be a strategic move about
(20:10):
your projects to add even morevalue to your home if you decide
to sell later on.
Also, some people use theequity in their home to start
the business they've alwaysdreamed of.
Your equity could be exactlywhat you need for startup costs,
a bet on yourself, equipment orsoftware or marketing.
It could increase your earningpotential, so getting another
financial boost.
(20:30):
So, again, the likelihood isyour home's worth more than what
you paid for, depending on howlong you've been in your home.
And so if you're curious aboutyour home's worth, we'll run the
numbers, we'll give you aprofessional equity assessment
report so you know what you'redealing with and again, you can
decide.
Maybe just get the informationand you just feel good about
(20:54):
just knowing what you have there.
It's options that you have.
Again, it's options that youhave to decide what you want to
do with it.
I love quotes, and I saw somequotes about goals and dreaming
big.
This is a quote actually fromMichelangelo.
Most people don't fail becausethey aim too high and miss, but
(21:19):
because they aim too low and hit.
Isn't that a good one?
Dan Sullivan said this yourfuture is bigger than your
present.
Your present is bigger thanyour past if you decide it to be
.
And then Gary Keller said thisif you're going to dream, dream
big.
It's no harder than dreamingsmall, dreaming big and I'm a
(21:43):
big fan of dreaming big.
And again, why goals matter.
You know, if you don't have agoal, you don't know where
you're aiming, and if you don'tset your own goals, you'll end
up working for someone else's,you know.
So, deciding what your goalsare, deciding what you want your
life to look like, but for alot of people, people set their
(22:03):
goals too small.
They don't excite them.
A lot of people set, people settheir goals too small.
They don't that don't excitethem.
A lot of people set goals thatare just too big.
Sorry, too vague.
You know I want to, I want tomake more money, but but how
much and doing what and by when?
And then a lot of people setgoals that are too safe.
You know they set goals, theyalready know how to achieve.
(22:24):
But you know, if your goal isto do what you did last year,
plus a little bit more, that'snot growth, that's just
maintenance.
So it's something to thinkabout, thinking about, maybe
dreaming big, whether it's apersonal goal or a business goal
, or a financial goal or ahealth goal.
Thinking bigger.
(22:45):
But goals, they recommend themto be SMART, and maybe you've
heard the acronym for SMARTSpecific, measurable, achievable
, relevant and time-bound.
And so the thing is, goals areboth big enough vision that
inspires you, but also smartsteps to get you there.
(23:10):
And so this is where your goalsand your standards.
If your goal is to run amarathon.
You have to become a runner.
I heard from a fitness coachabout goals and about people say
I want to get healthy and youhave to become the type of
person that's gonna accomplishthat goal and and this is such a
(23:32):
I heard this and I was likethis is so fascinating to me.
He had a client that waswanting to get healthy and part
of the part of that was settingup a Habit of going to the gym
and showing up to the gym andworking out every single day,
while the coach and the coachsaid to the client I want you to
get ready the night before, Iwant you to get ready in the
(23:52):
morning, I want you to get inyour car and I want you to go to
the gym.
But guess what, for the first90 days, all I want you to do is
actually go to the gym everymorning.
I don't want you to work out.
You might think that'sabsolutely crazy, but the point
the coach was doing with theirclient was they wanted to build
the habit of just showing up.
(24:14):
For so many of us, it's okay youget to the gym and you're going
to work out, but if you don'tdo it consistently, if you don't
do it as a habit.
If you don't even show up tothe gym to say that you're going
to work out every day, if youcan't master the first goal of
showing up to the gym, thenworking out at the gym is not
going to work out every day.
If you can't master the firstgoal of showing up to the gym,
then working out of the gym isnot going to matter.
I heard the famous basketballcoach.
(24:36):
He literally taught his playershow to tie their shoes.
It's the foundational habitsthat you work on before you get
to do the next part.
So again, you don't get yourgoals, you get your standards,
and so you raise your identity.
And again, if your identity, ifyour goal is to run a marathon,
(24:57):
you have to become a runner.
So another interesting thing isaccountability.
People hit bigger goals whenyou share them with others.
Accountability creates followthrough.
You know you don't drift intosuccess, you're held to it.
You know, when you share yourgoals and you have that
transparency, there can be magicin the accountability.
(25:20):
So when you look at your life,whether it's your finances, your
health, your business, yourrelationships, you know maybe
where are you playing too smallwith your goals.
And if you were to think biggerand dream bigger and I love
this quote.
Most people overestimate whatthey can do in a year,
overestimate and theyunderestimate what they can do
(25:42):
in three years.
So don't just set goals thatget you through the year.
Set goals that can create alife worth living.
And it matters, how we thinkabout things, who you surround
yourself with.
You're the average of the fivepeople that you surround
yourself with and, again,because when you're hanging out
with healthy people, you can'thelp but be influenced to be
healthier.
If you hang out with peoplethat are, maybe your goal is to
(26:05):
be more faith-based, you hangout with other faith-based
people.
That's gonna influence you.
You wanna hang out with otherfaith-based people.
That's going to influence you.
You want to hang out with otherfinancially wise people.
That's going to influence you.
Again, you want to hang out andsurround yourself with others
that think the way you want tothink and go to where you're
going.
I joke that if I'm the smartestperson in the room, I'm in the
wrong room.
I don't want to be in thoserooms.
I want to be in rooms where Ican be encouraged, rooms that
(26:27):
can be driven and held throughwith accountability and working
towards where I want to go.
So again, most people don'tfail because they aim too high
and miss.
They fail because they aim toolow and hit.
So I encourage you to dream big, to think big.
(26:48):
I always love theseconversations and if you want to
have the conversation, maybeyou thought about a career in
real estate.
We'd love to have theconversation.
If you maybe thought you'rethinking about buying or selling
or investing in real estate,we'd love to have that
conversation.
But we're here every Mondaymorning sharing with you
positive news about your localreal estate market community.
Thank you so much for tuning in.
Of course, give us a call828-393-0134.
(27:11):
Happy first day of fall andwe'll see you next Monday.
Maybe the house feels a littletoo big these days, the stairs a
little steeper, the pace oflife a little too fast.
But what if your next movewasn't about letting go?
It was about making space forpeace, for freedom, for what
(27:35):
matters most.
At the George Real Estate Group, we understand that real estate
isn't just about the house.
It's about transitions, timingand trust.
We've helped thousands offamilies in Western North
Carolina make smart, thoughtfulmoves Closer to nature, closer
to family, closer to home.
So when you're ready to right,size, simplify or start fresh.
(27:59):
We'll be here.
The George Real Estate Group,local, trusted, proven.
Call us today, 828-393-0134.
Find us online atrealestatebygregcom, because
your next chapter deserves tofeel just right.
Speaker 2 (28:16):
The George Real Estate Group has the experience
of selling over 1,200 propertiesand serving over 1,200 families
with their real estate needs inHenderson County and throughout
Western North Carolina realestate needs in Henderson County
and throughout Western NorthCarolina.
The George Real Estate Group islocated in Flat Rock, North
Carolina, near Hendersonville inHenderson County.
(28:37):
You can find them online atrealestatebygregcom.
The George Real Estate Groupcan be reached at 828-393-0134
or stop by their office at 2720Greenville Highway, Flat Rock,
North Carolina.
Tune in live each week onMonday mornings at 9.05 on WTZQ
(29:00):
FM 95.3 and 1600 AM or streamonline at WTZQcom.
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