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 atgeorgerealestategroupradiocom
for more information.
Good morning and welcome to theGeorge Real Estate Group live
radio broadcast here in thequeue every Monday morning,
(00:44):
sharing with you positive newsabout your local real estate
market and community.
We're so thankful to be herewith you on this September
Monday.
So much to be grateful for andtrust you're doing well.
Hope you had a wonderfulweekend and we are here ready to
go.
There's a lot of news about thereal estate market.
We'll jump into what is outthere.
The interest rates have gottensome news because of the
(01:08):
optimistic impact of the lowerinterest rates that the Fed
interest rates, which thenimpact the treasury bond, which
then impact the mortgage ratesand again the impact that that
has for our clients and sellersand buyers, and we'll jump into
what that will mean and we'lljump into what's happening in
the local real estate markethere.
And the news, certainly for awhile, was saying the sky is
(01:31):
falling, and we're going to putsome context on that.
The sky is not falling.
The market is absolutely stillhealthy and moving.
And is it a little softer?
Yes, but it's certainly not.
The sky is not falling.
If you're tuning in for thefirst time ever, the George Real
Estate Group, we're located inFlat Rock.
We're there on Rainbow Row.
We serve all of Western NorthCarolina.
(01:52):
We have an incredible group ofagents and staff and team
members ready to serve you withyour real estate needs.
It could be buying, selling orinvesting in real estate and it
could be your personal home.
It could be your personal home.
It could be your investmentproperty.
It could be maybe some realestate that you inherited.
It could be family real estateand there's dynamics with that
(02:13):
too.
So we've had the privilege andhonor of serving over 1,600
families throughout the years.
This is my 20th year of myNorth Carolina broker's license
and if we can help you in anyway with buying, selling or
investing in real estate, or ifyou've thought about a career in
real estate.
We're growing, we're hiringmore agents and so we'd love to
have the conversation.
You can find us online atrealestatebygregcom.
You can also follow us atgeorgerilestategroupradiocom.
(02:35):
Like I said, stop by our officeand Flat Rocks, say hello.
You can call us directly at828-393-0134, 828-393-0134.
And follow us on social mediaFacebook and Instagram and we
podcast all of our radio shows.
You can find us on yourfavorite podcast platform.
(02:56):
So what is happening in the realestate market?
I mean, like I shared with you,that the market's softening and
that certainly has some impacts.
And with the news over at theend of the week last year, last
week, with the 30-year fixedrate falling at the end of the
week last year and it is, Ithink I saw one of the numbers.
(03:17):
It was back down to some 2,024levels, which is a big deal and
certainly gives buyers moreoptions, and we'll check in as
to what that can do.
But specifically in HendersonCounty, in the last 12 months in
Henderson County there's beenover 1,500 single-family homes
sold.
This does not include condos orland or townhomes.
(03:41):
We certainly study thosesegments of the market, but we
use the single-family homes, inmy opinion, as the barometer of
what's going on.
But in the last 12 months we'vebeen averaging 125
single-family homes a monthselling.
As of this morning, there'scurrently 698 available homes on
(04:03):
the market.
We have a five-and-a and a halfmonth supply.
Now what does that mean?
A six month supply isconsidered a balanced market.
Less than six months is aseller's market.
More than six months is abuyer's market.
When you hear people talkingabout what type of market is it?
Now I'm sharing with you aboutHenderson County 125 homes a
month selling and you dividethat into the 698 available, we
(04:26):
have a five and a half monthsupply.
We could technically say we'rein a seller's market in
Henderson County that had fivehomes available.
Well, guess what?
If there was five homes a monthselling, it would mean it had a
(04:48):
one-month supply.
If the neighborhood was onlyaveraging one home a month
selling and there was five homesavailable, that means there
would be a five-month supply.
If the neighborhood had 10homes available and they were
only averaging one home a monthselling, it would mean it's a
10-month supply.
Then would be a buyer's market.
So you know, every neighborhood, every price point, every
(05:12):
community has what's called anabsorption rate, where we
determine in each price segment,is it a buyer's market, is it a
seller's market?
In each neighborhood, we candive down and say is this
neighborhood in a seller'smarket or a buyer's market?
In each neighborhood, we candive down and say is this
neighborhood in a seller'smarket or a buyer's market?
And so you can imagine theimpact that it has on what
buyers can do or not, or theflexibility, because, guess what
(05:35):
, if it's a seller's market,sellers aren't going to have to
come off their price as much.
Although, because of the soft,softening market in the, in the
market that we're shifting intothis is on our most recent blog
posts 50% of homes are sellingfor under the asking price, and
(06:00):
because it's?
It's because of the supply anddemand, so it's not exactly.
It's, again, not exactly badnews.
It might feel like it, butright now, about 50% of homes in
the market are selling for lessthan their asking price,
according from the latest datafor cotality.
(06:21):
The wild run-up over the lastfew years was never going to be
sustainable.
The housing market needed areset and the data shows that's
exactly what's happening rightnow.
So the graph on our blog showsfrom Zillow how the trend has
shifted over time.
You can see this on our blogpost.
Between 2018 and 2019, 50 to 55%of homes sold under the asking.
(06:45):
That was the normal.
That was pre-COVID.
2021, 2022, only 25% sold underasking and that was because of
the low interest rates, theintense buyer demand.
And here we are now in 2025,50% of homes are selling below
the asking price.
2025, 50% of homes are sellingbelow the asking price and we
(07:06):
were seeing in the month of Julythat number actually got down
to 93, 94% of the asking price.
Now, that was just the month ofJuly.
If you were to look over thelast 12 months, that number is
closer to 97, 98% of asking.
So it's not like sellers arediscounting their homes
(07:26):
significantly, but because ofthe softening market, it's given
buyers more flexibility.
And certainly, why is thisimportant to know?
A few years ago, you couldoverprice your house and still
get swarmed with buyers andoffers, but now, like I said,
buyers have more options and,frankly, with the interest rates
(07:49):
where they were and again it'sstill challenging Buyers felt
less urgency.
They had tighter budgets andthat's where these new interest
rates coming down can impact ourmarket.
But the thing is, today you'reasking price can make or break
your sale, especially right outof the gate.
(08:10):
So the first two weeks on themarket are the most important
window, because that's when themost serious buyers are actually
.
They're paying attention,they're looking, they're
watching for homes, they'reready to write up an offer.
And so when new homes hit themarket, you know, and especially
when you miss your price duringthat crucial period and your
sale can grind to a halt, buyerswill look right past it.
(08:34):
You'll get lost.
If there's 10 other homes inyour price range and your size,
home and location and your price, just like everyone else,
you're going to.
You're going to miss out,buyers are going to.
You're just going to get lostin the noise, and so buyers can
look right past it.
And if you're listing, once itsits in the market long enough
you might've heard the word itcan go stale, and so it's hard
(08:56):
to sell for your asking priceonce it goes stale.
So, sellers, you know this isthe thing, it's the
traditionally and Traditionallyit's interesting.
This is not how this works, buta lot of sellers are like I
want to build in negotiatingroom.
I don't want to just hold myprice.
I want buyers to be able tofeel like they're getting a deal
(09:19):
.
Buyers know that they'regetting a deal and it's
interesting, it's psychological,you would think.
Why would buyers pay full priceor even over asking price?
It's because they know it's adeal, just like they know it's
not a deal when you overprice it, especially as buyers watch you
(09:40):
do price cuts and then chasethe market down.
You sit on the market a longtime, but homeowners who
understand what's happening arestill winning even today.
So because that stat about 50%of homes under asking also means
that the other half guess whatare actually selling above or at
(10:02):
their asking price, as long asthey price it correctly from the
start.
Of course, there's things youhave to do.
You have to get your home ready.
You have to set yourself up forsuccess.
You have to prep your homeGetting ahead of the repairs,
any maintenance touch-ups beforeyou go on the market.
Even if your house looks great,you'll have a better chance of
(10:24):
selling at or over asking pricewhen you prepare your home for
sale.
Also, pricing strategicallyfrom day one.
Don't rely on what nearby homesare listed for.
You need to look at what otherhomes have sold for and that's
where working with a real estateprofessional to do the research
(10:46):
to do the data and pricing yourhome based on what things have
sold for, not what your neighboror competition are asking.
And then, finally, you know,stay flexible.
You know, be ready to negotiate.
You know, are you missing outon future opportunities because
of how you're handling yourcurrent one?
(11:06):
And it doesn't always mean youhave to be flexible on the price
.
Maybe you need to be flexibleon repairs or closing costs or
something else, but today'sbuyers are serious and because
it's softening, that's wherebuyers have had more options and
they can negotiate.
So if you want to be, if youwant your house to be the one
that sells for at or even morethan you're asking price, you
(11:31):
know you want to make a plan.
You want to work with a realestate professional and today's
market is not the same one wesaw a few years ago and that's
why you need to work with a realestate professional to help you
navigate through the nuances oftoday.
You don't want to fall behindin this market.
So buyers, they're out there.
I shared with you earlierthere's 125 single family homes
(11:53):
a month selling in HendersonCounty.
The market's still moving.
The sky is not falling and as aseller, you still have to be
strategic in getting your houseready to sell and pricing it
correctly.
And it doesn't mean you'regiving it away.
You're still going to get whatthe market will bear.
You're still going to get topdollar, and we can help navigate
through that your uniquesituation, your unique home.
(12:16):
It could be a really positivereason why you're buying or
selling.
It could be a very challengingreason.
Whatever it is, we want to walkalongside.
Ultimately, our job is toadvocate for you and to help you
and to navigate throughwhatever it could be.
It could be a very celebratoryreason why you're buying and
selling.
It could be a very sombermoment, and we don't take that
lightly.
And so we're here to walkalongside.
(12:38):
We're going to help you.
We're here to advocate for youand to facilitate what your
decision is, what your goal is,what your dreams are, and we can
help make that come true andhelp you accomplish what your
choice is.
It's your choice to do any ofthis, and so we provide the
knowledge and the informationand, ultimately, we're here to
(12:58):
advocate for you and to give youclarity so you can decide
what's right for you.
It's such a privilege and honorto serve the community through
real estate.
We have an incredible team inplace.
We're helping our clientswhether they're planning ahead
for their estate.
We're helping our clientswhether they're maybe downsizing
or right-sizing or upsizing ormoving into that retirement
community.
We're helping our clientsnavigate through hard times.
(13:20):
It's just life is and can be.
Life is beautiful and it alsocan be challenging, and so we
all have those seasons of lifeand so, no matter what it is,
there's no judgment.
We're here to provide clarityand information and to come
alongside you and help younavigate through that.
You can give us a call directlyat 828-393-0134, 828-393-0134.
(13:43):
You can find us online atrealestatebygregcom.
You can also connect with us onsocial media.
Like I shared, we podcast on ourradio shows.
You can find that on yourfavorite podcast platform, but
we're here every Monday morningsharing with you positive news
about the market.
The interest rates are comingdown.
It's going to have an impact onincreased buyer demand.
(14:05):
These lower rates are going toreduce the cost of borrowing, so
monthly mortgage payments canbecome more affordable.
So buyers who were previouslypriced out may now qualify for
financing.
Also, existing buyers theymight stretch their budgets
further now shopping forhigher-priced homes since their
payment stays manageable.
(14:26):
So the market is so fascinatingright now, especially with
these interest rates coming down, and we'll dive into how that
can impact.
But you're listening to theGeorgia Real Estate Group live
radio broadcast here in thequeue, so stay tuned in.
We're going to take a shortbreak and we'll be right back.
Good morning and welcome back.
(14:48):
You're listening to the GeorgiaReal Estate Group live radio
broadcast here on the Q everyMonday morning sharing with you
positive news about the localreal estate marketing community.
I guess, no matter what again,your unique situation, your
unique home, your desires, againhow that is impacted through
real estate and it could be yourpersonal home and things
involved with that.
It could be your investmentreal estate, it could be your
(15:10):
investment portfolio with realestate, it could be an estate
you're dealing with.
I mean, there's so many reasonswhy and when we speak with
people and I don't pretend tosay that we've seen it all, but
I mean, after helping over 1,600families, we've certainly seen
a lot and we continue to learnevery single day, every single
week, in learning as we help ourclients and we figure things
(15:32):
out and we bring a lot ofexperience to the table and we
bring a lot of knowledge andmarket information and ability
to solve problems and to helpour clients navigate through
whatever it might be, and wefocus on we're so focused on our
clients and doing what's rightfor them and doing what's best
(15:54):
for them and ultimately givingour clients the information to
decide what's right to do.
I was reminded of a quote thatI saw this weekend.
That just I'd seen it before,but reminded it over the weekend
.
But the quote is a man whochases two rabbits will catch
neither, and it can carry a lotof weight in both business and
(16:17):
in life.
I mean, like in the ultimatemessage, the main message is
about focus.
If you split your energybetween two competing goals, you
can dilute your efforts, justlike a hunter can't chase two
rabbits at once, because they'lldart in different directions.
You can't effectively pursuetwo priorities that require your
full attention.
(16:38):
And this can apply to realestate.
I see it where real estateagents are trying to help people
do property management and thenagents that are also trying to
do property sales, real estatesales.
If an agent tries to marketthem as both a property manager
and a sales expert, they couldconfuse clients, and actually
(16:59):
that's something that we workwith another property manager
that all he does is propertymanagement, just like all we do,
our real estate sales, and so,you know, an agent that's doing
both bad, but because theyspread themselves too thin,
(17:25):
jumping from one project toanother without fully developing
any of them.
Again the quote a man whochases two rabbits will catch
neither.
It's also, you know, in today'sworld of multitasking, you know,
I think this proverb hits evenharder.
You know, our phones, socialmedia, constant notifications
(17:45):
it's like chasing dozens ofrabbits at once.
And so the reality is theresults it can be burnout,
stress and very, very littlemeaningful progress.
So, you know, and it could beyour personal life it's not just
about business and it could be,you know, your health, it could
be relationships, it could be,you know your health, it could
be relationships, it could be,you know, personal goals, I mean
(18:06):
like, and so again, this, thiscan apply to so many things.
So, I guess, ultimately, decidewhat your one rabbit is and
it's funny to say that butdecide what really matters.
Focus on that one thing, whetherit's, you know, helping your
next client, whether it's maybeit's getting healthy, maybe it's
building stronger relationships, and then, and then commit, and
(18:27):
then it's taking those nextsteps and moving forward, you
know, to ultimately hitting thatgoal, cause if you're chasing
two goals at the same time, yourarely will get either, and so
you're wasting your energyzigzagging you'll end up again
either, and so you're wastingyour energy zigzagging you'll
(18:47):
end up again empty handed.
So just something to thinkabout.
Again I came across.
I was like, oh, I was.
I was like this is such a goodreminder on life and what we
focus on and how we, especiallyin our real estate business,
helping people navigate throughso much, and so we focus on real
estate sales.
We don't do property management.
(19:08):
So, again, if you're curiouswhat your home is worth, we're
meeting every single week withclients that are curious what is
our home worth?
And it could be.
Maybe it's not what my home isworth.
It's here's my situation.
I'm not sure how to navigatethrough this.
Do I sell and then buy, or do Ineed to buy and then sell?
What do I qualify for?
(19:29):
And this is where we work withso many professionals.
We work with real estatelenders, we work with our
attorneys, we work with ourproperty inspectors and home
inspectors, and septic and welland radon and survey and
appraisers.
There's so many pieces of thepuzzle that we bring together to
ultimately help our clientsnavigate through.
(19:50):
You know the buying and sellingprocess, and it's not just what
is my home worth.
You're in control of what thislooks like.
Maybe you want to navigate andnegotiate staying in your home
after the sale.
You can, and it is possible tonegotiate that.
That's called a possessionafter closing.
You can also take possession,potentially of the next home
(20:11):
that you buy early.
I mean and this is where havinga real estate professional
there to navigate through and toaccomplish what you want to
accomplish you might think toyourself what I want is
impossible.
Well, until we have theconversation, until we look at
all the options, you will notknow unless you put it out there
and we have the conversation.
There's so many situations.
(20:32):
Maybe in the end, after wediscuss everything, you come to
the conclusion you need to stayin your home.
That is absolutely a win for us, because we've done our job
when we provide clarity for ourclients so they can decide
what's right for them.
You don't want to have anyregrets.
You don't want to have anydoubts.
You want to have all theinformation so, as a client, you
(20:55):
can decide what's right for youand depending on your situation
.
I mean one of the things withreal estate that a lot of people
don't realize is the taxadvantage of your personal home.
When you have lived in yourhome two out of a five-year
period as your primary home,when you sell it as an
individual, the first $250,000of profit.
(21:17):
That's not $250,000 of the sale, it's the first $250,000 of
profit.
After you take out what youpaid for the home, your expenses
, you get that back and then thefirst $250,000 of profit is
tax-free If you've lived in thehome two out of a five-year
period.
If you're married, it's$500,000.
(21:39):
These are significant taxadvantages for your home and
owning a home and the advantagesof home ownership.
So all of these things and thisis just one piece of the puzzle
as we navigate through with ourclients, helping our clients
navigate through the sellingprocess and advising our clients
(22:01):
and advising what's right forthem so they can decide what's
right for them.
Also, we're advising our buyers.
I mean, a lot of buyers havethis perception you have to have
20% down to buy a house.
There's a lot of programsactually that allow 3% to 5%
down and then in some cases,like VA or USDA, even allow 0%
(22:22):
down.
Another interesting thing thatbuyers think is renting is
always cheaper than buying.
You know, while rent and that'snot true while rent may seem
lower short term, the mortgagepayments actually help you as a
buyer build equity, and rentsusually go up every year versus
(22:45):
a fixed mortgage rate locks inyour payment, which is
significant in the environmentof inflation, where you know for
certain that your house paymentis going to stay the same.
That's a big deal.
Also, another myth that buyershave is you have to have perfect
credit to qualify, and that'snot true either.
(23:08):
There's different loan programsdepending on your credit score.
You do have to have credit, butloan officers that we work with
can help you improve yourcredit, can help you find out
what programs qualify for.
Again, buyers have options.
And then, ultimately, there's amyth that the buyers think the
process is too complicated.
(23:29):
And with the right support,with the right real estate agent
and lender, the process is stepby step, and so we provide
through our buyer consultationsand walk alongside with our
buyers.
We simplify everything,ultimately helping our clients
navigate through that process.
So you know again, buying a homeis not just about the money.
(23:52):
It's the stability, the pride,the generational wealth.
A home becomes part of yourfamily's legacy.
It matters the impact on thecommunity.
I mean generational wealth Homeownership builds a foundation
for children and grandchildren.
Family priorities I mean theseare where, again, what your
(24:14):
family's priorities are and howhome ownership impacts that, the
stability the home provides, asafe place to grow, roots and
thrive as a family.
I mean there's so many impactsof home ownership that come into
play.
It's the intangibles thatmatter so much.
And again, working with a realestate agent to help navigate
(24:36):
through the contract, thenuances of the market, working
with the lenders and theattorneys all those pieces of
the puzzle that people findsurprising, I mean one of the
most surprising thing I think Ihear all the time when people
are buying and selling realestate in North Carolina is
homes are sold as is.
(24:57):
I mean it is an as-is state.
It doesn't mean a buyer isrequired to buy it, but it
doesn't mean a seller isobligated to fix anything.
Now, sellers have obligationsof communicating material facts
and so does the real estateagent, but buyers can do their
investigation.
Buyers get to decide on thecondition if they want to
(25:18):
negotiate, to do repairs, or ifthey want to walk away or if
they want to buy it.
I mean there's so many nuancesof our contract, that having the
real estate agent thatunderstands these nuances, that
can advise you, can consult youand can help you walk through,
ultimately, to a successfulpurchase.
I will say this one of thebiggest red flags for real
(25:39):
estate agents.
If you're a consumer out thereand you start jumping into a
conversation with a real estateagent and they do not present
you with what's called thebrochure of working with a real
estate agent, that should beyour biggest red flag.
Just because someone has a realestate license doesn't mean
they're actually practicing orhave any experience or even
(26:00):
selling any homes.
But one of the first litmustests as a consumer if you're
talking with a real estate agent, one of the first obligations
that a real estate agent has toyou, the consumer and this is
through the North Carolina RealEstate Commission the agent is
supposed to pause you fromsharing any confidential
information before you have theconversation and before the
(26:22):
agent discloses and shares withyou what's called the working
with the real estate agentbrochure.
It explains the consumerprotection.
It explains if the agent'srepresenting the buyer.
It explains if the agent'srepresenting the seller.
It also explains one of thedynamics of what's allowed and
certainly only by your consent,is dual agency.
(26:43):
So one of the things that Iwould encourage you if you're a
client, if you're a potentialbuyer, if you're a potential
seller and you're reaching outto a real estate agent, one of
the very first things that agentneeds to do with you is share
with you and explain and give toyou the brochure on working
with a real estate agent.
So one of the biggest red flags, if you engage with a real
(27:05):
estate agent and they do notshare that with you, that is
certainly one of the things thatyou need to address and, again,
just be aware of.
So these are the things that wedo.
We're here to educate, we'rehere to facilitate.
We are working with buyers andsellers every single day.
If, in regards to your personalhome, if you're thinking of
buying and selling, if you'renavigating through your
(27:28):
investment properties and yourreal estate holdings and maybe
how that plays out with yourestate and with your heirs and
how that might impact you, we'reworking with our commercial
clients and 1031 exchanges andtax strategies.
I mean from everything fromyour personal home, which we
have tremendous experience with,to your real estate investment
(27:50):
properties, to your taxstrategies.
We work with tax professionals.
We work with our attorneys.
We work with the lenders.
Again, it's in concert witheverybody.
It's not just we're the hub andwe are helping our clients
navigate through what'sultimately right for them and
providing clarity andinformation for our clients to
make the decision.
It's a step-by-step journey.
(28:11):
We understand the process andsetting expectations and the
timelines, but if we can helpyou in any way, it's a privilege
and honor to serve thecommunity through real estate.
We're in Flat Rock.
Stop by and visit us on RainbowRow.
We're right next to thedangerous Flat Rock Bakery, the
dangerous Hubba Hubba Barbecueand all those great local
restaurants and businesses andstop by and say hello.
(28:33):
Find us online atrealestatebygregcom.
You can also call us directlyat 828-393-0134.
And then, of course, follow uson social media and follow us on
Facebook and Instagram.
But we love serving thecommunity through real estate,
but give us a call and we'rehere every Monday morning.
So have a great day, have agreat week and we'll see you
(28:54):
next week.
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
(29:19):
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 toright-size, simplify or start
(29:43):
fresh, 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 (30:00):
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.
The George Real Estate Group islocated in Flat Rock, north
Carolina, near Hendersonville inHenderson County.
(30:21):
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
(30:44):
FM 95.3 and 1600 AM or streamonline at WTZQcom.