June 26, 2025 • 34 mins
When headlines warn of economic uncertainty and market slowdowns, it's easy to hit pause on real estate dreams. But what if waiting costs you more in the long run? The George Real Estate Group's latest podcast challenges conventional wisdom about today's housing market with surprising data from Western North Carolina.
Contrary to national narratives, Henderson County has seen more homes sold this year than last, with neighboring counties showing diverse market conditions. Henderson County maintains a seller's market with a 4.67-month supply and an average home price of $538,000, while Buncombe County has shifted to a balanced market and Transylvania County now favors buyers with its seven-month inventory.
For those waiting for a recession to make housing more affordable, history tells a different story. Prices actually increased during four of the last six economic downturns. While mortgage rates typically fall during recessions, creating better affordability, the expected price drops often don't materialize. As Navy Federal Credit Union economist Robert Frick puts it: "Hopes that an economic slowdown will depress housing prices are wishful thinking."
The podcast offers fascinating historical context—from the $4,000 median home price of the 1920s to today's $430,000 national average—showing real estate's remarkable long-term appreciation through countless economic cycles. This perspective reinforces why homeownership remains a powerful wealth-building tool despite market fluctuations.
Beyond market analysis, the conversation acknowledges that real estate decisions happen amid life's most significant moments—both joyful and challenging. Whether you're relocating for a dream job, downsizing after children leave home, or navigating inheritance questions, having experienced advocates makes all the difference.
Ready to discuss your unique situation? Connect with the George Real Estate Group for a no-pressure consultation about buying, selling, or investing in today's market. Because waiting for perfect conditions might mean missing the opportunity that's available right now.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
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 theGeorgia Real Estate Group live
(00:46):
radio broadcast here on WHKP.
Every Thursday morning we bringyou positive news about your
local real estate market andcommunity.
We're so grateful to be herewith you.
It's our last show of June,july's around the corner and
just so much to be thankful for.
We're grateful to be heresharing with you about the local
real estate market andcommunity and the market and the
economy, and we're just goingto dive into the conversation.
(01:06):
We have some great new listings.
We have some open houses.
We have a lot of open housesthis weekend, you might.
Open houses are very effectiveand and uh and helpful.
I mean we've had a lot ofactivity buyers and sellers
coming out to our open housesand we'll we'll dive into that
as well.
If you're tuning in for thefirst time ever, the George real
estate group is located in flatrock and we serve all of
(01:30):
Western North Carolina andupstate South Carolina.
We have the ability to navigatethrough buying, selling, uh,
helping our clients relocate.
It could be downsizing,upsizing, maybe it's a working
with your estate, maybe it'sworking with your investment
property, maybe you're gettinginto the career in real estate.
It could be land, it could beresidential or commercial.
(01:52):
We have an incredible group ofagents and staff ready to
facilitate and navigate throughwhatever it is.
We know real estate happensaround life.
It could be a really positivereason why you're buying or
selling.
It could be a challengingreason.
We're here for it all.
We love and are enthusiasticabout helping our clients
navigate through buying andselling.
(02:13):
Whatever the situation is, wehave a no pressure, no cost, no
obligation, consultation andwe'd love to interview for the
job.
Give us a call 828-393-0134,the job.
Give us a call.
828-393-0134, 828-393-0134.
You can find us online atrealestatebygregcom.
(02:36):
We also podcast all of our radioshows.
We have a number of radio shows.
Another one of our radio showsis every Friday morning at 845,
we have the Hometown Heroesseries.
We love sharing the story ofincredible men and women serving
this community and grateful forthe conversation tomorrow
morning with Mary Yeager-Gale,chairman of the board of Chimney
Rock State Park.
Mary came to the park in 1981and never left.
(03:00):
We have some updates on thepark, its recovery, the
reopening, ever left.
We have some updates in thepark, its recovery, the
reopening.
Tomorrow morning at 845, as wespeak with Mary, our Georgia
Real Estate Group, hometown Heroand I know you know people in
the community making adifference We'd love to have a
conversation.
We'd love to shine a light onthe incredible work we have,
those unsung heroes that are outthere serving our community
(03:22):
through real estate and we'vebeen doing this Hometown Hero
program for a number of years.
It's a privilege and honor tomeet amazing men and women
serving the community, hearingtheir stories and sharing with
what they're doing.
And we have an amazingcommunity that we live in.
I tell people that arerelocating here all the time.
(03:42):
I'm a little biased and I, weand I've had the privilege of
travel throughout the I meanmultiple international places,
but also here across the US andgrateful for the opportunity to
travel and see the world, butwhere we live, I love calling
Hendersonville home and raisingmy kids here and growing up here
(04:03):
and running a business here andhelping people.
And people come here from allover.
They have their experienceshere, whether it's the, you know
.
They've had their firstexperience with Hendersonville,
maybe through the Apple Orchards, or maybe it was through
downtown Hendersonville with theApple Festival or the Garden
Jubilee or just, you know,visiting the area to visit
friends and family.
(04:24):
It could be one of the campsthat they attended as a child,
or there's so many differentreasons why people come to the
area and so a lot of people gethere and they, they, they think
to themselves this is where Iwant to live, this is where I
want to call, call home.
So you know this.
This is a common experience.
(04:44):
People are coming from otherplaces and they have this
wonderful experience here forthe first time and they say how
do I find a way here?
And people do.
Certainly, during COVID, peoplewere realizing they wanted to
move their dreams forward andthey weren't going to wait for
retirement to move.
And they found a way.
They found jobs or they broughttheir jobs with them.
People are selling their homes.
(05:05):
People are coming here NorthCarolina one of the more recent
reports I heard was one of thetop three incoming migration
states and people are cominghere and they continue to come
here and we're seeing where welive and you see the growth and
that's a whole otherconversation about responsible
(05:26):
growth and how that can looklike and the need for affordable
housing in context, in light ofthe current market dynamics
that we're in.
It's interesting.
I did a little bit of a dive onhow the cost of homes
throughout the decades and I'lldive into that here in just a
(05:46):
minute Before we do that justagain heads up on number of open
houses that we have.
This coming weekend we have anopen house at 73 Wisdom Cove in
Flat Rock.
Another open house at 1351Chanteloup Drive in
Hendersonville Beautiful,beautiful homes.
We have another one on StonyKnob.
All these can be found on ourFacebook page.
(06:07):
You can find us on Facebook,george Real Estate Group on
Facebook, and you can see all ofour open houses that we have
coming up.
And you know it's open houseshave been a great way for our
clients and for our sellers andit's been great for our buyers
to get out and see homes.
Certainly no pressure to go tolook at any of the homes that we
(06:28):
have for sale, uh, with theGeorgia Real Estate Group.
Just a, just a sampling of ofsome of the homes that we have
for sale.
Uh, when you go out and look atour open houses, we've had, we
had an open house yesterday at1351 Chanteloup, uh, in the
afternoon Again, we we hold openhouses even throughout the week
.
It's very effective.
You might be wondering what'shappening here specifically
(06:49):
locally.
June's not over yet, but whenyou look at year to date, year
to date there's been more homessold in Henderson County, which
is amazing, year-to-date thisyear versus year-to-date this,
versus last year, I mean.
But January there was morehomes sold, february, more homes
(07:10):
sold than the previous month,the previous, you know January.
The previous February, marchwas right on par April also had
more homes and in May there wasjust 140 single-family homes
sold in May, this May, versus143 last May.
And so we'll see what happens.
We're going to see what happens,but the demand is remaining
(07:32):
strong in Henderson County.
We're averaging some 126single-family homes a month
selling in Henderson County.
There's been over 1,500 homessold in the last 12 months.
Our average single-family homeprice is $538,000.
$538,000.
And then also there's only 589active available homes in
(07:57):
Henderson County right now,active homes available.
And so you know, if you takethem, you do the math, you look
at how many homes we'reaveraging selling per month and
we have it's been slowlyincreasing in the sense of the
absorption rate.
So we have a 4.6, almost 4.7months supply.
Six months is considered abalanced market.
(08:19):
More than six months is aseller's market.
Less than six months is abuyer's excuse me more than six
months as a buyer's market, lessthan six months as a seller's
market.
In Henderson County we have a4.67 month supply.
You might be surprised to hearwhat's happening in Buncombe
County.
In Buncombe County there's beenover 2,500 single-family homes
(08:40):
sold in the last 12 months andthat's 213 a month.
They have almost 1,300 homesavailable.
So Buncombe County has shiftedinto a balanced market at the
moment.
Six months of inventory.
The average of single-familyhome price over the last 12
(09:03):
months in Buncombe County is at$666,000.
Again, we're just watchingwhat's happening in the market.
There's almost 1,300 homesavailable in Buncombe County.
And then you might be surprisedwhat's happening in
Transylvania County over thelast 12 months.
Uh, there's.
There's been 416 single familyhomes sold.
(09:28):
That's almost 35 homes a monthselling in Transylvania County.
I mean so they have a sevenmonth supply.
And then the average availablehome excuse me, the average
single family home price inTransylvania County almost at
$750, $748 is the single-familyhome price in Transylvania
(09:49):
County.
It's amazing to look at.
The market certainly issoftening.
Days on market are increasing.
The inventory levels areincreasing, but there's a lot of
news about the.
You know you've got to becareful about the news when it
talks about the economy.
(10:11):
When you talk about, you knowthe R word recession.
You know a lot of people.
You know there's people thatare in fear about a recession.
You know there's which you knowfear is a paralyzing thing.
It causes people not to make amove.
(10:33):
You know so.
A lot of Americans are pausingtheir home buying or selling
plans.
It's, you know, the headlineswarning of an economic slowdown,
uncertainty, and so in regardsto real estate, you might be
wondering should I wait for arecession before I make a move
in real estate?
And if you're asking thatestate, you might be wondering
should I wait for a recessionbefore I make a move in real
estate?
And if you're asking thatquestion.
You're not alone.
There was a recent survey fromJohn Burns Research and
(10:55):
Consulting, and also withKeeping Current Matters, that
found 68% of people are hittingthe brakes on their real estate
plans due to economic concerns.
But here's the twist Not allthat hesitation is rooted in
fear.
For some, it's actually rootedin hope.
Some people are actuallywaiting and hoping for lower
(11:18):
rates.
According to realtorcom, nearlythree in 10 recent buyers
that's almost 30% said arecession would actually
increase their likelihood ofpurchasing a home.
Well, why?
Because many buyers believethat if a recession hits,
mortgage rates will drop, makinghomes more affordable.
And historically, actually,that's not far off.
(11:41):
Looking at the last sixrecessions, mortgage rates have
fallen every time.
And that's because, duringeconomic slowdowns, the Federal
Reserve typically cuts interestrates in an attempt to stimulate
the economy.
That can bring mortgage ratesdown as well, potentially
unlocking better affordabilityfor buyers who've been priced
(12:03):
out by high mortgage payments.
And so, yes, lower interestrates during a recession are a
real possibility.
But the possibility, but here'sthe catch prices don't always
follow.
You know.
While some buyers are banking ondrop in a drop in home prices,
history paints a differentpicture and according to
long-term data from uh, from acompany, formerly core logic.
(12:28):
Home prices actually went up infour of the last six recessions
.
It was the housing crash of2008 that was the outliner, not
the norm, but the crash was aresult of a perfect storm of
risky lending practices andoversupply of home in a broken
financial system.
None of those factors are atplay today.
(12:50):
In fact, quite the opposite.
Inventory levels remainhistorically low in many markets
.
I share with you about ourinventory levels.
Again, only just some 200 homesavailable in Transylvania
County, 1,300 homes available inBuncombe County.
Only some 500 homes availablein Transylvania County, 1,300
homes available in BuncombeCounty.
Only some 500 homes availablein Henderson County.
And so if you're hoping forprices to draw dramatically in a
(13:14):
recession, you may be waitingfor a market that simply won't
show up.
Robert Frick, the corporateeconomist at Navy Federal Credit
Union, put it this way hopesthat an economic slowdown will
depress housing prices arewishful thinking at this point.
So what today's market'sactually doing?
So here's what we do knowPrices are holding steady or
(13:39):
climbing in most metropolitanareas, albeit at a slower pace
and rapid spikes of recent years.
Inventory levels improving, butdemand remains strong,
especially for well-priced homesand desirable locations.
And then mortgage rates arestill fluctuating, but recent
shifts suggest we could seesoftening if economic pressures
(14:01):
mount.
So, in short, we're in a marketthat rewards prepared strategic
buyers and sellers, and so ifyou're waiting for the stars to
align ultra low rates andfalling home prices you may miss
the opportunity, the window ofopportunity actually that's open
right now, you know.
So don't wait for a recessionthat may not deliver what you
(14:22):
expect.
And if your plan is to sit onthe sidelines until recession
fixes the market, consider whathistory and experts tell us.
You might get a break oninterest rates, but that doesn't
mean you'll get a discount onprice.
You know the better strategystrategy work with a local real
estate expert who understandsthe market, your goals and the
real dynamics at play, not justthe headlines.
(14:43):
We'd love to connect at theGeorge Real Estate Group.
We can build a plan that worksfor you, so you're not just
waiting for a market that maynever come.
You know we can have.
We can look at your situation,we can look at your unique home,
we can look at your options andprovide clarity.
So, again, we can discuss allyour situation.
(15:05):
Do you buy before you sell?
Do you sell before you buy?
What are you qualified for?
What kind of tax implicationsare there whether you're selling
your personal home or yourrental home or your investment
property or commercial propertyor raw land?
I mean, there's so manydifferent things that come into
play in the buying and sellingprocess and we certainly can
(15:26):
have that conversation, provideclarity so you can make a
decision you know for what'sright for you.
You know we are meeting withpeople every single day and
we're having the conversationand in some cases they're
shopping, they're looking athomes just to get a feel and
then sometimes people arespecifically.
You know they would sell theirhome if they knew exactly where
(15:49):
they're going to.
That's also the case when we'reworking with our commercial
clients and they're doing 1031exchanges.
We have options for you toconsider for the 1031 exchange
where you can find and you canpark your money in other real
estate investment opportunitiesand avoid the capital gains.
With what's called a 1031exchange, in a lot of cases you
(16:10):
can actually make more money andpay less taxes.
I know that seems impossiblebut it's happening and it's true
.
In a lot of cases you can makemore money, pay less taxes and
avoid the capital gains.
You can defer the capital gainsand we've been working with
incredible clients and helpingour clients navigate through
(16:31):
what's called a 1031 exchangeand we're working with tax codes
such as the Delaware StatutoryTrust in conjunction with 1031
exchange.
And we're partnering with we canwork in concert with your
estate attorneys and financialadvisors, your tax advisors.
(16:51):
We work in concert, helpingprovide solutions for our
clients, not just on theirpersonal home, not just the
personal buying and selling, butthinking strategically about
your real estate portfolio,thinking strategically about
your estate and what that mightlook like, and we can put a
long-term plan together, notjust for yourself, but for what
(17:11):
that looks like in the legacyyou're leaving for your kids and
your grandkids.
I mean, there's so manydifferent, you know there's
there's so many different, um,uh, you know there's so many
different options to talk aboutand considerations.
And that's where we look at it,from an objective point of view
, providing you clarity andinformation about what's right
for you.
Just let me share about theopen houses that we have this
(17:37):
weekend.
We have a number of open housesgoing on at the George Real
Estate Group this weekend, firstof which 66 Ashland Lane in
Tryon.
66 Ashland Lane in Tryon.
This home has over two acres inPolk County.
This is an actual log cabin.
It has over 2,000 square feet,built in 2000.
(17:59):
And we're going to have an openhouse this Sunday from 3 to 5,
66 Ashland Lane in Tryon Awesomelog cabin.
It has a couple of lots.
Collectively it's over twoacres.
Privacy, has the space, has thecharm and just a beautiful,
beautiful community, green CreekFarm subdivision and awesome
(18:21):
property.
Phillip Trees is going to behosting that open house.
We also have another open housethat I mentioned, at Chanteloup
Also.
We're getting.
It's amazing.
We continue to get offers andactivities happening, but just
want to give you a sample ofsome of the listings in the
inventory that we have.
A 21 Stony Knob Drive is alsoopen this weekend.
(18:46):
21 Stony Knob Drive.
It has an extra lot, so we haveso much going on this weekend.
We have a great team in place.
Speaking of our team, we haveone of our now becoming regular
radio show guests, wendy.
Good morning, wendy.
Speaker 2 (19:02):
Good morning.
Speaker 1 (19:04):
You're literally out on the field working with
clients buying and selling realestate.
You and your clients actuallyjust recently negotiated a due
diligence repair request.
This is all part of when you'reunder contract, I mean.
And so welcome to the radiothis morning hey everybody,
happy thursday.
Speaker 2 (19:27):
I was like I don't even know what day it is.
Well, when you're so busy likeyou are right.
Speaker 1 (19:32):
Also, while we're talking about happy days, we
want to wish gail sats a happybirthday this morning happy.
Happy birthday, mama Gail.
Mama Gail, our broker in chargeat the George Real Estate Group
, and she has just I mean thestories that she has been again
the experience that she has Ihope if she's listening I mean
(19:52):
30 plus years in the real estateindustry and incredible
experience, and I'm grateful forall the just incredible effort
in what she does for our teamand for our agents and as we
navigate through.
I mean as a broker in charge,you're fielding questions,
you're working through the realestate commission, the nuances
(20:12):
and the paperwork and keeping usall in line.
The broker in charge has a.
We've been able to we navigatethrough all the questions that
we might have.
But happy birthday to Gail.
If you want to call our office,that'd be a riot.
If you're listening and youwant to call our office and just
wish Gail a happy birthday, Ithink she'd love that.
That'd be funny.
(20:32):
So do you want to take a guess,wendy?
I was looking at home pricesand this is a real.
I'm going to do a throwback.
I'm going to go back 100 years.
I know this is a little extreme.
Do you want to guess what themedian home price was in the
1920s?
You're really putting me on thespot.
Speaker 2 (20:56):
In the 20s.
Yes, $50,000.
Speaker 1 (21:08):
$4,000.
Speaker 2 (21:09):
the spot in the 20s yes, um 50 000.
4 000.
Oh my god, I was so off.
Four thousand dollars.
Speaker 1 (21:10):
Four to six thousand dollars was a meeting home price
.
Four thousand okay, I'm gonnaput you on the spot.
What do you remember?
The?
How much you paid for your veryfirst home when you bought your
very first home yes uh, do, doshare you want me to share?
Speaker 2 (21:19):
yeah, go ahead.
Um, I love this conversationclose to.
I think we built for like 200000 okay okay, which was new
construction?
Speaker 1 (21:27):
yes, I'm gonna date myself.
My very first home I bought wassixty thousand dollars.
Oh my, isn't that wild mine wasuh 2011.
Okay, mine was well in 2011,.
You bought?
Speaker 2 (21:41):
Correct.
Speaker 1 (21:42):
Yeah, my first home was in 05, I bought, Okay, In
just a small little cottage for$60,000.
Oh my God, Isn't that wild.
Could you walk in it?
You could live in it.
I lived in it.
How many square feet?
It was 1,000 square feet.
Okay, it was 1,000 square feet.
So it was small, but still itwas a home, and it was in Flat
Rock.
Actually, it was a 1,000 squarefoot cottage in Flat Rock for
(22:03):
$60,000.
And so, okay, here we go.
Then we go into the 50s.
The median home price was$7,000.
In the 60s it was $12,000.
In the 70s it was $23,000.
So when did it bounce?
In the 80s it got into themedian home price in the 1980s
(22:25):
was $47,000 in the United States.
In the 90s it got up to $79,000.
And then in 2000, it got up to$119,000.
But this is where, in 2007, theprevious cycle, it peaked out
at the median home prices peakedin 2007 at 257.
And so when people look back atthose dates, they're like, oh,
(22:48):
I bought at the peak of themarket.
Well, here we are.
Here we are in 20.
Well, I'm going to go to 2023.
The median home price in theUnited States was at 430.
And in 2022, it actually peakedat $450.
Again, when you look at theexponential growth of home
(23:08):
prices and it was in the 2010sFunny thing is in 2010, the
median home price you were spoton.
The median home price in 2010was $221.
Speaker 2 (23:21):
Okay, that was kind of the going rate when we were
looking and things like that.
Speaker 1 (23:24):
so, and interest rates probably back then you
probably remember were in thesixes right, maybe uh three, oh
wow I think we got a three.
No, we didn't.
There's no way.
Speaker 2 (23:36):
In 2010, it's okay, but you'd probably know, it was
probably a six I got.
I I don't know.
I can't remember what coffee Ihad yesterday, noah, like I
don't remember what happened in2010.
I just know what I built it forand I know what it's worth now.
Well, how about now?
I mean, it's double.
Speaker 1 (23:54):
Yeah, yeah, yeah yeah , so again, that's more than
double.
It's more than double.
That's where oh yeah, that's$60,000 house today that I
purchased in 05.
It's probably quadrupled ormaybe tripled.
I mean again, the value and thebenefit of homeownership.
(24:14):
Yeah, so you're out thereworking with buyers and sellers
and you know the market and I'vebeen sharing earlier.
Speaker 2 (24:24):
The market softened a little bit, but it's still
happening though, and the buyersare out there shopping with a
buyer who a house that he waslooking at went under contract
because he was waiting for it togo down.
(24:44):
And I'm like you know you justcan't wait.
If there's something you haveyour eye on, at least let's
start a conversation.
And so he is meeting with alender on Monday and we're going
to really jump in.
I said, if you're going to jump, let's jump.
Speaker 1 (25:00):
Well, you make a good point.
If buyers, if you're settingour buyers up for successes, if
you're not going to pay cash andeven if you are paying cash,
you need to have that proof offunds letter ready but talk
about that when you're workingthose buyers, coaching them.
You're like, you better getpre-approved, because if we're
going to submit an offer, wehave to be ready.
Speaker 2 (25:18):
Yeah, and I think it also just educates them too.
It's kind of the chats I havewith people that are renting,
who are so afraid to buy.
I think it's just reallyimportant for them to just sit
down with a lender and reallyjust let them know okay, this is
where I'm at, this is what Ican afford, this is the payment,
and really see if it's possible, because, honestly, a lot, of a
(25:39):
lot of times it's possible.
I think there's so many amazingprograms out there that people
don't know about.
I think they just automaticallythink I cannot buy a house and
actually you, you can, you can,you might be able to you might
be able to.
So let's, I mean, you don'thave to sign a, sign a line, Um,
just just have a conversation.
Speaker 1 (25:57):
Well, that's, that's right, and especially if you're
renting right now, there is aplace for renting.
Yes, absolutely, and we've allbeen there and it's okay.
And if you can get intohomeownership when you can.
And the other thing is, homeprices are always going to go up
and down and timing the marketis another conversation, also,
(26:19):
even just trying to time theinterest rates.
But if you can afford intoday's market with today's
interest rates, again you'regetting into the market and you
can refinance interest rateslater.
If you're going to be livingsomewhere anyways, instead of
making I also have said rentingyou're paying 100% interest in
(26:40):
one sense.
I mean at the end of if yourent for five years you had a
place to stay but you didn'tbuild up any equity, you weren't
building wealth for your family.
But you make a great point asto getting qualified.
Find out what you can qualifyfor.
And then also, a lot of ourclients currently own their
homes and they're thinking aboutselling and then buying, and so
(27:02):
that can be important to findout what you qualify for.
And also, I know, wendy, youprovide market analysis for
sellers if they're just curioushow much equity that they have
in their home.
And I know also you are willingand we have clients that go
look at homes first before theyput their house on the market.
So it's setting our clients upfor success.
(27:24):
It's helping our clients andagain, with the relationships we
have with our lenders.
Speaker 2 (27:32):
You want to speak to Patrick at United Federal Credit
Union.
Yeah, I mean, I've worked withPatrick for a couple of years
now and he is the lender thatwe're talking with on.
Speaker 1 (27:37):
Monday.
Speaker 2 (27:38):
You know, I think there's a lot of great lenders
out there there are.
And I just have a personalrelationship with him just
because he has worked withnumerous clients.
But you definitely have to findone that you can get a hold of
and I think the local market isgreat to have.
So shout out to him, shout outto the ones that I have worked
with.
(27:58):
So I appreciate them all.
Speaker 1 (27:59):
Well, and again, that's the relationship.
And whether you work withPatrick or not, we highly
advocate talking to a locallender, someone you can sit
across from their desk.
You know, be careful aboutthese online lenders and the big
you know, you'll see the TVadvertisements.
There's something about therelationship like the
relationship we have with ourattorneys and our home
(28:21):
inspectors and our appraisersand all the pieces of the puzzle
that come together.
And again, our lenders are big,are critical with that as well,
but anyways, it's so great tohave you here, wendy.
Thanks, I just stopped by.
I was in the hood.
You're like I said, stop by,we're going to be on the radio.
And this is real life.
We're helping every single day.
And again, the conversationsthat Wendy's having with her
(28:43):
clients, that our team's havingwith our clients Again, it's
real estate happens around life.
It could be a really positivereason why people are buying or
selling.
It could be a challengingreason.
I mean, life happens.
I mean, again, there's those,it's new families, it's the new
job, it's the you know, maybeyou're moving closer to the
grandkids, and then life happens.
It could be a death or adivorce or a job loss.
(29:04):
I mean, like, all these thingshappen.
And in real estate, regardlessof the economy, regardless of
the interest rates, real estateends up being a pivotal piece in
decision making.
And again, having an advocate,having somebody to be in your
corner, navigate through thehome buying and selling process,
(29:30):
I mean again we've had.
It's really sobering, but we'vehad.
We've walked alongside with ourclients that have lost loved
ones and I will say this I meanthey say don't do anything for
that first year after a loss ofa loved one.
I mean this is just real talk.
I mean with our clients, we'vesat down with people that say
and we've actually encouragedthem to wait.
I mean there's the whole griefprocess and we work alongside
with the states and attorneysand people that have lost loved
(29:52):
ones and having to face I meanpeople that are like I can't
have this home, this home's toobig for me by myself, and that's
just real life.
And so we have those realhonest conversations.
But it's the care and thecandor that we walk alongside
with our clients.
Speaker 2 (30:06):
Yeah, I think it's.
I think it's so important.
You're right to just be anadvocate, like I, I.
I have a couple that needed tosell a condo in Florida this
week and, you know, I, I, Iconnected them to an agent in
orlando.
So you know, if people say, ohwell, I want to buy in orlando,
you can't help me, well,actually we can, you know so.
Speaker 1 (30:27):
So that's a great point, we have a network of real
estate, professionals, allacross the country and we've
been able to advocate even forour clients in other states and
other cities and we work welland, by the way, we the amount
of referrals that we're gettingfrom other uh agents all across.
Again, you may not realize that, but if you have real estate,
not just here locally, uh, wehave the ability to connect you
(30:48):
with our network of otherprofessionals that we work and
trust and can help you throughthat.
And again, what if you, ifyou're listening to this and you
need a connection andrecommendation for an attorney
or a tax advisor or a financialadvisor or we just got a request
this morning for someoneneeding help cleaning out the
garage we can help point you inthat direction.
Maybe it's an estate sale,maybe it's a survey or an
(31:11):
appraisal.
I mean, we are working everysingle day with this network of
professionals and we can helpyou.
Again, you don't have to bebuying or selling to call us.
We welcome the calls and we canpoint you in the right
direction.
It's a lot of fun.
And again, it is aboutadvocating, it's about
(31:32):
facilitating, and so, whetheryou're buying, selling or a
career or an investment in realestate or whatever conversation
you want to do, and again go toour Facebook page.
We have a lot of open housesthis weekend.
I think we have four openhouses or more going on this
weekend.
You can find that on ourFacebook page.
You can also go torealestatebygregcom and, of
(31:53):
course, you can reach out toWendy if you want to schedule an
appointment to see any of theseproperties.
Wendy can also connect you withPatrick and our great team in
place and again.
Speaker 2 (32:08):
We are so thankful to be here.
Wendy, what else do you got?
I mean, you're busy, yeah, yeah, summer's crazy.
You know you got a kid and youknow it's just, it's just a wild
time, it's a great time, butit's it's.
Yeah, it's a lot to be thankfulfor, it's great, I'm thankful
and it's a lot of fun.
Speaker 1 (32:20):
You can tell we have a lot of fun helping our clients
navigate through the buying andselling real estate and, again,
working with our clients thathave investment properties and
tax strategies and working withyour attorneys.
We work in all facets of realestate, so give us a call
828-393-0134.
Find estate, so give us a call828-393-0134.
(32:43):
Find us online atrealestatebygregcom.
Tune in tomorrow morning forour Hometown Heroes series.
Every Friday morning, ourHometown Heroes series Tomorrow
morning.
Mary Yeager, gale Chairman ofthe Board of Chimney Rock State
Parks, is going to be heretomorrow morning.
So excited about thatconversation.
Have a great day.
Have a great rest of your week.
Also happy to Gail, and we'llsee you tomorrow morning.
(33:11):
Thinking about estate planningfor your real estate.
Without a smart approach, theproperty you leave behind could
become an unwelcome burden foryour kids.
Many children simply don't wantto co-manage an inherited house
or deal with the tenants.
Fortunately, you can preventthat with the right plan.
The George Real Estate Groupspecializes in tax-efficient
(33:31):
strategies like 1031 exchangesand Delaware Statutory Trust to
simplify inheritance and incomeplanning.
A 1031 exchange can defer yourcapital gain taxes now and help
your kids avoid a big tax billlater, and a DST lets you
continue earning rental incomewithout landlord headache.
Plus, it can be split amongyour children, making
(33:52):
inheritance easier.
Planning ahead is one of thekindest gifts you can give your
family.
Let us help you secure yourlegacy.
Call the George Real EstateGroup at 828-393-0134 today.
You've worked hard to buildyour legacy.
Speaker 3 (34:11):
Now let us help you protect it for your loved ones.
Thank you for listening to theGeorge Real Estate Group podcast
.
Tune in next time for moreindustry news updates and real
estate tips.
You can reach Greg, the GeorgeReal Estate Group, at
828-393-0134 or atrealestatebygregcom.
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 theGeorgia Real Estate Group live
(00:46):
radio broadcast here on WHKP.
Every Thursday morning we bringyou positive news about your
local real estate market andcommunity.
We're so grateful to be herewith you.
It's our last show of June,july's around the corner and
just so much to be thankful for.
We're grateful to be heresharing with you about the local
real estate market andcommunity and the market and the
economy, and we're just goingto dive into the conversation.
(01:06):
We have some great new listings.
We have some open houses.
We have a lot of open housesthis weekend, you might.
Open houses are very effectiveand and uh and helpful.
I mean we've had a lot ofactivity buyers and sellers
coming out to our open housesand we'll we'll dive into that
as well.
If you're tuning in for thefirst time ever, the George real
estate group is located in flatrock and we serve all of
(01:30):
Western North Carolina andupstate South Carolina.
We have the ability to navigatethrough buying, selling, uh,
helping our clients relocate.
It could be downsizing,upsizing, maybe it's a working
with your estate, maybe it'sworking with your investment
property, maybe you're gettinginto the career in real estate.
It could be land, it could beresidential or commercial.
(01:52):
We have an incredible group ofagents and staff ready to
facilitate and navigate throughwhatever it is.
We know real estate happensaround life.
It could be a really positivereason why you're buying or
selling.
It could be a challengingreason.
We're here for it all.
We love and are enthusiasticabout helping our clients
navigate through buying andselling.
(02:13):
Whatever the situation is, wehave a no pressure, no cost, no
obligation, consultation andwe'd love to interview for the
job.
Give us a call 828-393-0134,the job.
Give us a call.
828-393-0134, 828-393-0134.
You can find us online atrealestatebygregcom.
(02:36):
We also podcast all of our radioshows.
We have a number of radio shows.
Another one of our radio showsis every Friday morning at 845,
we have the Hometown Heroesseries.
We love sharing the story ofincredible men and women serving
this community and grateful forthe conversation tomorrow
morning with Mary Yeager-Gale,chairman of the board of Chimney
Rock State Park.
Mary came to the park in 1981and never left.
(03:00):
We have some updates on thepark, its recovery, the
reopening, ever left.
We have some updates in thepark, its recovery, the
reopening.
Tomorrow morning at 845, as wespeak with Mary, our Georgia
Real Estate Group, hometown Heroand I know you know people in
the community making adifference We'd love to have a
conversation.
We'd love to shine a light onthe incredible work we have,
those unsung heroes that are outthere serving our community
(03:22):
through real estate and we'vebeen doing this Hometown Hero
program for a number of years.
It's a privilege and honor tomeet amazing men and women
serving the community, hearingtheir stories and sharing with
what they're doing.
And we have an amazingcommunity that we live in.
I tell people that arerelocating here all the time.
(03:42):
I'm a little biased and I, weand I've had the privilege of
travel throughout the I meanmultiple international places,
but also here across the US andgrateful for the opportunity to
travel and see the world, butwhere we live, I love calling
Hendersonville home and raisingmy kids here and growing up here
(04:03):
and running a business here andhelping people.
And people come here from allover.
They have their experienceshere, whether it's the, you know
.
They've had their firstexperience with Hendersonville,
maybe through the Apple Orchards, or maybe it was through
downtown Hendersonville with theApple Festival or the Garden
Jubilee or just, you know,visiting the area to visit
friends and family.
(04:24):
It could be one of the campsthat they attended as a child,
or there's so many differentreasons why people come to the
area and so a lot of people gethere and they, they, they think
to themselves this is where Iwant to live, this is where I
want to call, call home.
So you know this.
This is a common experience.
(04:44):
People are coming from otherplaces and they have this
wonderful experience here forthe first time and they say how
do I find a way here?
And people do.
Certainly, during COVID, peoplewere realizing they wanted to
move their dreams forward andthey weren't going to wait for
retirement to move.
And they found a way.
They found jobs or they broughttheir jobs with them.
People are selling their homes.
(05:05):
People are coming here NorthCarolina one of the more recent
reports I heard was one of thetop three incoming migration
states and people are cominghere and they continue to come
here and we're seeing where welive and you see the growth and
that's a whole otherconversation about responsible
(05:26):
growth and how that can looklike and the need for affordable
housing in context, in light ofthe current market dynamics
that we're in.
It's interesting.
I did a little bit of a dive onhow the cost of homes
throughout the decades and I'lldive into that here in just a
(05:46):
minute Before we do that justagain heads up on number of open
houses that we have.
This coming weekend we have anopen house at 73 Wisdom Cove in
Flat Rock.
Another open house at 1351Chanteloup Drive in
Hendersonville Beautiful,beautiful homes.
We have another one on StonyKnob.
All these can be found on ourFacebook page.
(06:07):
You can find us on Facebook,george Real Estate Group on
Facebook, and you can see all ofour open houses that we have
coming up.
And you know it's open houseshave been a great way for our
clients and for our sellers andit's been great for our buyers
to get out and see homes.
Certainly no pressure to go tolook at any of the homes that we
(06:28):
have for sale, uh, with theGeorgia Real Estate Group.
Just a, just a sampling of ofsome of the homes that we have
for sale.
Uh, when you go out and look atour open houses, we've had, we
had an open house yesterday at1351 Chanteloup, uh, in the
afternoon Again, we we hold openhouses even throughout the week
.
It's very effective.
You might be wondering what'shappening here specifically
(06:49):
locally.
June's not over yet, but whenyou look at year to date, year
to date there's been more homessold in Henderson County, which
is amazing, year-to-date thisyear versus year-to-date this,
versus last year, I mean.
But January there was morehomes sold, february, more homes
(07:10):
sold than the previous month,the previous, you know January.
The previous February, marchwas right on par April also had
more homes and in May there wasjust 140 single-family homes
sold in May, this May, versus143 last May.
And so we'll see what happens.
We're going to see what happens,but the demand is remaining
(07:32):
strong in Henderson County.
We're averaging some 126single-family homes a month
selling in Henderson County.
There's been over 1,500 homessold in the last 12 months.
Our average single-family homeprice is $538,000.
$538,000.
And then also there's only 589active available homes in
(07:57):
Henderson County right now,active homes available.
And so you know, if you takethem, you do the math, you look
at how many homes we'reaveraging selling per month and
we have it's been slowlyincreasing in the sense of the
absorption rate.
So we have a 4.6, almost 4.7months supply.
Six months is considered abalanced market.
(08:19):
More than six months is aseller's market.
Less than six months is abuyer's excuse me more than six
months as a buyer's market, lessthan six months as a seller's
market.
In Henderson County we have a4.67 month supply.
You might be surprised to hearwhat's happening in Buncombe
County.
In Buncombe County there's beenover 2,500 single-family homes
(08:40):
sold in the last 12 months andthat's 213 a month.
They have almost 1,300 homesavailable.
So Buncombe County has shiftedinto a balanced market at the
moment.
Six months of inventory.
The average of single-familyhome price over the last 12
(09:03):
months in Buncombe County is at$666,000.
Again, we're just watchingwhat's happening in the market.
There's almost 1,300 homesavailable in Buncombe County.
And then you might be surprisedwhat's happening in
Transylvania County over thelast 12 months.
Uh, there's.
There's been 416 single familyhomes sold.
(09:28):
That's almost 35 homes a monthselling in Transylvania County.
I mean so they have a sevenmonth supply.
And then the average availablehome excuse me, the average
single family home price inTransylvania County almost at
$750, $748 is the single-familyhome price in Transylvania
(09:49):
County.
It's amazing to look at.
The market certainly issoftening.
Days on market are increasing.
The inventory levels areincreasing, but there's a lot of
news about the.
You know you've got to becareful about the news when it
talks about the economy.
(10:11):
When you talk about, you knowthe R word recession.
You know a lot of people.
You know there's people thatare in fear about a recession.
You know there's which you knowfear is a paralyzing thing.
It causes people not to make amove.
(10:33):
You know so.
A lot of Americans are pausingtheir home buying or selling
plans.
It's, you know, the headlineswarning of an economic slowdown,
uncertainty, and so in regardsto real estate, you might be
wondering should I wait for arecession before I make a move
in real estate?
And if you're asking thatestate, you might be wondering
should I wait for a recessionbefore I make a move in real
estate?
And if you're asking thatquestion.
You're not alone.
There was a recent survey fromJohn Burns Research and
(10:55):
Consulting, and also withKeeping Current Matters, that
found 68% of people are hittingthe brakes on their real estate
plans due to economic concerns.
But here's the twist Not allthat hesitation is rooted in
fear.
For some, it's actually rootedin hope.
Some people are actuallywaiting and hoping for lower
(11:18):
rates.
According to realtorcom, nearlythree in 10 recent buyers
that's almost 30% said arecession would actually
increase their likelihood ofpurchasing a home.
Well, why?
Because many buyers believethat if a recession hits,
mortgage rates will drop, makinghomes more affordable.
And historically, actually,that's not far off.
(11:41):
Looking at the last sixrecessions, mortgage rates have
fallen every time.
And that's because, duringeconomic slowdowns, the Federal
Reserve typically cuts interestrates in an attempt to stimulate
the economy.
That can bring mortgage ratesdown as well, potentially
unlocking better affordabilityfor buyers who've been priced
(12:03):
out by high mortgage payments.
And so, yes, lower interestrates during a recession are a
real possibility.
But the possibility, but here'sthe catch prices don't always
follow.
You know.
While some buyers are banking ondrop in a drop in home prices,
history paints a differentpicture and according to
long-term data from uh, from acompany, formerly core logic.
(12:28):
Home prices actually went up infour of the last six recessions
.
It was the housing crash of2008 that was the outliner, not
the norm, but the crash was aresult of a perfect storm of
risky lending practices andoversupply of home in a broken
financial system.
None of those factors are atplay today.
(12:50):
In fact, quite the opposite.
Inventory levels remainhistorically low in many markets
.
I share with you about ourinventory levels.
Again, only just some 200 homesavailable in Transylvania
County, 1,300 homes available inBuncombe County.
Only some 500 homes availablein Transylvania County, 1,300
homes available in BuncombeCounty.
Only some 500 homes availablein Henderson County.
And so if you're hoping forprices to draw dramatically in a
(13:14):
recession, you may be waitingfor a market that simply won't
show up.
Robert Frick, the corporateeconomist at Navy Federal Credit
Union, put it this way hopesthat an economic slowdown will
depress housing prices arewishful thinking at this point.
So what today's market'sactually doing?
So here's what we do knowPrices are holding steady or
(13:39):
climbing in most metropolitanareas, albeit at a slower pace
and rapid spikes of recent years.
Inventory levels improving, butdemand remains strong,
especially for well-priced homesand desirable locations.
And then mortgage rates arestill fluctuating, but recent
shifts suggest we could seesoftening if economic pressures
(14:01):
mount.
So, in short, we're in a marketthat rewards prepared strategic
buyers and sellers, and so ifyou're waiting for the stars to
align ultra low rates andfalling home prices you may miss
the opportunity, the window ofopportunity actually that's open
right now, you know.
So don't wait for a recessionthat may not deliver what you
(14:22):
expect.
And if your plan is to sit onthe sidelines until recession
fixes the market, consider whathistory and experts tell us.
You might get a break oninterest rates, but that doesn't
mean you'll get a discount onprice.
You know the better strategystrategy work with a local real
estate expert who understandsthe market, your goals and the
real dynamics at play, not justthe headlines.
(14:43):
We'd love to connect at theGeorge Real Estate Group.
We can build a plan that worksfor you, so you're not just
waiting for a market that maynever come.
You know we can have.
We can look at your situation,we can look at your unique home,
we can look at your options andprovide clarity.
So, again, we can discuss allyour situation.
(15:05):
Do you buy before you sell?
Do you sell before you buy?
What are you qualified for?
What kind of tax implicationsare there whether you're selling
your personal home or yourrental home or your investment
property or commercial propertyor raw land?
I mean, there's so manydifferent things that come into
play in the buying and sellingprocess and we certainly can
(15:26):
have that conversation, provideclarity so you can make a
decision you know for what'sright for you.
You know we are meeting withpeople every single day and
we're having the conversationand in some cases they're
shopping, they're looking athomes just to get a feel and
then sometimes people arespecifically.
You know they would sell theirhome if they knew exactly where
(15:49):
they're going to.
That's also the case when we'reworking with our commercial
clients and they're doing 1031exchanges.
We have options for you toconsider for the 1031 exchange
where you can find and you canpark your money in other real
estate investment opportunitiesand avoid the capital gains.
With what's called a 1031exchange, in a lot of cases you
(16:10):
can actually make more money andpay less taxes.
I know that seems impossiblebut it's happening and it's true
.
In a lot of cases you can makemore money, pay less taxes and
avoid the capital gains.
You can defer the capital gainsand we've been working with
incredible clients and helpingour clients navigate through
(16:31):
what's called a 1031 exchangeand we're working with tax codes
such as the Delaware StatutoryTrust in conjunction with 1031
exchange.
And we're partnering with we canwork in concert with your
estate attorneys and financialadvisors, your tax advisors.
(16:51):
We work in concert, helpingprovide solutions for our
clients, not just on theirpersonal home, not just the
personal buying and selling, butthinking strategically about
your real estate portfolio,thinking strategically about
your estate and what that mightlook like, and we can put a
long-term plan together, notjust for yourself, but for what
(17:11):
that looks like in the legacyyou're leaving for your kids and
your grandkids.
I mean, there's so manydifferent, you know there's
there's so many different, um,uh, you know there's so many
different options to talk aboutand considerations.
And that's where we look at it,from an objective point of view
, providing you clarity andinformation about what's right
for you.
Just let me share about theopen houses that we have this
(17:37):
weekend.
We have a number of open housesgoing on at the George Real
Estate Group this weekend, firstof which 66 Ashland Lane in
Tryon.
66 Ashland Lane in Tryon.
This home has over two acres inPolk County.
This is an actual log cabin.
It has over 2,000 square feet,built in 2000.
(17:59):
And we're going to have an openhouse this Sunday from 3 to 5,
66 Ashland Lane in Tryon Awesomelog cabin.
It has a couple of lots.
Collectively it's over twoacres.
Privacy, has the space, has thecharm and just a beautiful,
beautiful community, green CreekFarm subdivision and awesome
(18:21):
property.
Phillip Trees is going to behosting that open house.
We also have another open housethat I mentioned, at Chanteloup
Also.
We're getting.
It's amazing.
We continue to get offers andactivities happening, but just
want to give you a sample ofsome of the listings in the
inventory that we have.
A 21 Stony Knob Drive is alsoopen this weekend.
(18:46):
21 Stony Knob Drive.
It has an extra lot, so we haveso much going on this weekend.
We have a great team in place.
Speaking of our team, we haveone of our now becoming regular
radio show guests, wendy.
Good morning, wendy.
Speaker 2 (19:02):
Good morning.
Speaker 1 (19:04):
You're literally out on the field working with
clients buying and selling realestate.
You and your clients actuallyjust recently negotiated a due
diligence repair request.
This is all part of when you'reunder contract, I mean.
And so welcome to the radiothis morning hey everybody,
happy thursday.
Speaker 2 (19:27):
I was like I don't even know what day it is.
Well, when you're so busy likeyou are right.
Speaker 1 (19:32):
Also, while we're talking about happy days, we
want to wish gail sats a happybirthday this morning happy.
Happy birthday, mama Gail.
Mama Gail, our broker in chargeat the George Real Estate Group
, and she has just I mean thestories that she has been again
the experience that she has Ihope if she's listening I mean
(19:52):
30 plus years in the real estateindustry and incredible
experience, and I'm grateful forall the just incredible effort
in what she does for our teamand for our agents and as we
navigate through.
I mean as a broker in charge,you're fielding questions,
you're working through the realestate commission, the nuances
(20:12):
and the paperwork and keeping usall in line.
The broker in charge has a.
We've been able to we navigatethrough all the questions that
we might have.
But happy birthday to Gail.
If you want to call our office,that'd be a riot.
If you're listening and youwant to call our office and just
wish Gail a happy birthday, Ithink she'd love that.
That'd be funny.
(20:32):
So do you want to take a guess,wendy?
I was looking at home pricesand this is a real.
I'm going to do a throwback.
I'm going to go back 100 years.
I know this is a little extreme.
Do you want to guess what themedian home price was in the
1920s?
You're really putting me on thespot.
Speaker 2 (20:56):
In the 20s.
Yes, $50,000.
Speaker 1 (21:08):
$4,000.
Speaker 2 (21:09):
the spot in the 20s yes, um 50 000.
4 000.
Oh my god, I was so off.
Four thousand dollars.
Speaker 1 (21:10):
Four to six thousand dollars was a meeting home price
.
Four thousand okay, I'm gonnaput you on the spot.
What do you remember?
The?
How much you paid for your veryfirst home when you bought your
very first home yes uh, do, doshare you want me to share?
Speaker 2 (21:19):
yeah, go ahead.
Um, I love this conversationclose to.
I think we built for like 200000 okay okay, which was new
construction?
Speaker 1 (21:27):
yes, I'm gonna date myself.
My very first home I bought wassixty thousand dollars.
Oh my, isn't that wild mine wasuh 2011.
Okay, mine was well in 2011,.
You bought?
Speaker 2 (21:41):
Correct.
Speaker 1 (21:42):
Yeah, my first home was in 05, I bought, Okay, In
just a small little cottage for$60,000.
Oh my God, Isn't that wild.
Could you walk in it?
You could live in it.
I lived in it.
How many square feet?
It was 1,000 square feet.
Okay, it was 1,000 square feet.
So it was small, but still itwas a home, and it was in Flat
Rock.
Actually, it was a 1,000 squarefoot cottage in Flat Rock for
(22:03):
$60,000.
And so, okay, here we go.
Then we go into the 50s.
The median home price was$7,000.
In the 60s it was $12,000.
In the 70s it was $23,000.
So when did it bounce?
In the 80s it got into themedian home price in the 1980s
(22:25):
was $47,000 in the United States.
In the 90s it got up to $79,000.
And then in 2000, it got up to$119,000.
But this is where, in 2007, theprevious cycle, it peaked out
at the median home prices peakedin 2007 at 257.
And so when people look back atthose dates, they're like, oh,
(22:48):
I bought at the peak of themarket.
Well, here we are.
Here we are in 20.
Well, I'm going to go to 2023.
The median home price in theUnited States was at 430.
And in 2022, it actually peakedat $450.
Again, when you look at theexponential growth of home
(23:08):
prices and it was in the 2010sFunny thing is in 2010, the
median home price you were spoton.
The median home price in 2010was $221.
Speaker 2 (23:21):
Okay, that was kind of the going rate when we were
looking and things like that.
Speaker 1 (23:24):
so, and interest rates probably back then you
probably remember were in thesixes right, maybe uh three, oh
wow I think we got a three.
No, we didn't.
There's no way.
Speaker 2 (23:36):
In 2010, it's okay, but you'd probably know, it was
probably a six I got.
I I don't know.
I can't remember what coffee Ihad yesterday, noah, like I
don't remember what happened in2010.
I just know what I built it forand I know what it's worth now.
Well, how about now?
I mean, it's double.
Speaker 1 (23:54):
Yeah, yeah, yeah yeah , so again, that's more than
double.
It's more than double.
That's where oh yeah, that's$60,000 house today that I
purchased in 05.
It's probably quadrupled ormaybe tripled.
I mean again, the value and thebenefit of homeownership.
(24:14):
Yeah, so you're out thereworking with buyers and sellers
and you know the market and I'vebeen sharing earlier.
Speaker 2 (24:24):
The market softened a little bit, but it's still
happening though, and the buyersare out there shopping with a
buyer who a house that he waslooking at went under contract
because he was waiting for it togo down.
(24:44):
And I'm like you know you justcan't wait.
If there's something you haveyour eye on, at least let's
start a conversation.
And so he is meeting with alender on Monday and we're going
to really jump in.
I said, if you're going to jump, let's jump.
Speaker 1 (25:00):
Well, you make a good point.
If buyers, if you're settingour buyers up for successes, if
you're not going to pay cash andeven if you are paying cash,
you need to have that proof offunds letter ready but talk
about that when you're workingthose buyers, coaching them.
You're like, you better getpre-approved, because if we're
going to submit an offer, wehave to be ready.
Speaker 2 (25:18):
Yeah, and I think it also just educates them too.
It's kind of the chats I havewith people that are renting,
who are so afraid to buy.
I think it's just reallyimportant for them to just sit
down with a lender and reallyjust let them know okay, this is
where I'm at, this is what Ican afford, this is the payment,
and really see if it's possible, because, honestly, a lot, of a
(25:39):
lot of times it's possible.
I think there's so many amazingprograms out there that people
don't know about.
I think they just automaticallythink I cannot buy a house and
actually you, you can, you can,you might be able to you might
be able to.
So let's, I mean, you don'thave to sign a, sign a line, Um,
just just have a conversation.
Speaker 1 (25:57):
Well, that's, that's right, and especially if you're
renting right now, there is aplace for renting.
Yes, absolutely, and we've allbeen there and it's okay.
And if you can get intohomeownership when you can.
And the other thing is, homeprices are always going to go up
and down and timing the marketis another conversation, also,
(26:19):
even just trying to time theinterest rates.
But if you can afford intoday's market with today's
interest rates, again you'regetting into the market and you
can refinance interest rateslater.
If you're going to be livingsomewhere anyways, instead of
making I also have said rentingyou're paying 100% interest in
(26:40):
one sense.
I mean at the end of if yourent for five years you had a
place to stay but you didn'tbuild up any equity, you weren't
building wealth for your family.
But you make a great point asto getting qualified.
Find out what you can qualifyfor.
And then also, a lot of ourclients currently own their
homes and they're thinking aboutselling and then buying, and so
(27:02):
that can be important to findout what you qualify for.
And also, I know, wendy, youprovide market analysis for
sellers if they're just curioushow much equity that they have
in their home.
And I know also you are willingand we have clients that go
look at homes first before theyput their house on the market.
So it's setting our clients upfor success.
(27:24):
It's helping our clients andagain, with the relationships we
have with our lenders.
Speaker 2 (27:32):
You want to speak to Patrick at United Federal Credit
Union.
Yeah, I mean, I've worked withPatrick for a couple of years
now and he is the lender thatwe're talking with on.
Speaker 1 (27:37):
Monday.
Speaker 2 (27:38):
You know, I think there's a lot of great lenders
out there there are.
And I just have a personalrelationship with him just
because he has worked withnumerous clients.
But you definitely have to findone that you can get a hold of
and I think the local market isgreat to have.
So shout out to him, shout outto the ones that I have worked
with.
(27:58):
So I appreciate them all.
Speaker 1 (27:59):
Well, and again, that's the relationship.
And whether you work withPatrick or not, we highly
advocate talking to a locallender, someone you can sit
across from their desk.
You know, be careful aboutthese online lenders and the big
you know, you'll see the TVadvertisements.
There's something about therelationship like the
relationship we have with ourattorneys and our home
(28:21):
inspectors and our appraisersand all the pieces of the puzzle
that come together.
And again, our lenders are big,are critical with that as well,
but anyways, it's so great tohave you here, wendy.
Thanks, I just stopped by.
I was in the hood.
You're like I said, stop by,we're going to be on the radio.
And this is real life.
We're helping every single day.
And again, the conversationsthat Wendy's having with her
(28:43):
clients, that our team's havingwith our clients Again, it's
real estate happens around life.
It could be a really positivereason why people are buying or
selling.
It could be a challengingreason.
I mean, life happens.
I mean, again, there's those,it's new families, it's the new
job, it's the you know, maybeyou're moving closer to the
grandkids, and then life happens.
It could be a death or adivorce or a job loss.
(29:04):
I mean, like, all these thingshappen.
And in real estate, regardlessof the economy, regardless of
the interest rates, real estateends up being a pivotal piece in
decision making.
And again, having an advocate,having somebody to be in your
corner, navigate through thehome buying and selling process,
(29:30):
I mean again we've had.
It's really sobering, but we'vehad.
We've walked alongside with ourclients that have lost loved
ones and I will say this I meanthey say don't do anything for
that first year after a loss ofa loved one.
I mean this is just real talk.
I mean with our clients, we'vesat down with people that say
and we've actually encouragedthem to wait.
I mean there's the whole griefprocess and we work alongside
with the states and attorneysand people that have lost loved
(29:52):
ones and having to face I meanpeople that are like I can't
have this home, this home's toobig for me by myself, and that's
just real life.
And so we have those realhonest conversations.
But it's the care and thecandor that we walk alongside
with our clients.
Speaker 2 (30:06):
Yeah, I think it's.
I think it's so important.
You're right to just be anadvocate, like I, I.
I have a couple that needed tosell a condo in Florida this
week and, you know, I, I, Iconnected them to an agent in
orlando.
So you know, if people say, ohwell, I want to buy in orlando,
you can't help me, well,actually we can, you know so.
Speaker 1 (30:27):
So that's a great point, we have a network of real
estate, professionals, allacross the country and we've
been able to advocate even forour clients in other states and
other cities and we work welland, by the way, we the amount
of referrals that we're gettingfrom other uh agents all across.
Again, you may not realize that, but if you have real estate,
not just here locally, uh, wehave the ability to connect you
(30:48):
with our network of otherprofessionals that we work and
trust and can help you throughthat.
And again, what if you, ifyou're listening to this and you
need a connection andrecommendation for an attorney
or a tax advisor or a financialadvisor or we just got a request
this morning for someoneneeding help cleaning out the
garage we can help point you inthat direction.
Maybe it's an estate sale,maybe it's a survey or an
(31:11):
appraisal.
I mean, we are working everysingle day with this network of
professionals and we can helpyou.
Again, you don't have to bebuying or selling to call us.
We welcome the calls and we canpoint you in the right
direction.
It's a lot of fun.
And again, it is aboutadvocating, it's about
(31:32):
facilitating, and so, whetheryou're buying, selling or a
career or an investment in realestate or whatever conversation
you want to do, and again go toour Facebook page.
We have a lot of open housesthis weekend.
I think we have four openhouses or more going on this
weekend.
You can find that on ourFacebook page.
You can also go torealestatebygregcom and, of
(31:53):
course, you can reach out toWendy if you want to schedule an
appointment to see any of theseproperties.
Wendy can also connect you withPatrick and our great team in
place and again.
Speaker 2 (32:08):
We are so thankful to be here.
Wendy, what else do you got?
I mean, you're busy, yeah, yeah, summer's crazy.
You know you got a kid and youknow it's just, it's just a wild
time, it's a great time, butit's it's.
Yeah, it's a lot to be thankfulfor, it's great, I'm thankful
and it's a lot of fun.
Speaker 1 (32:20):
You can tell we have a lot of fun helping our clients
navigate through the buying andselling real estate and, again,
working with our clients thathave investment properties and
tax strategies and working withyour attorneys.
We work in all facets of realestate, so give us a call
828-393-0134.
Find estate, so give us a call828-393-0134.
(32:43):
Find us online atrealestatebygregcom.
Tune in tomorrow morning forour Hometown Heroes series.
Every Friday morning, ourHometown Heroes series Tomorrow
morning.
Mary Yeager, gale Chairman ofthe Board of Chimney Rock State
Parks, is going to be heretomorrow morning.
So excited about thatconversation.
Have a great day.
Have a great rest of your week.
Also happy to Gail, and we'llsee you tomorrow morning.
(33:11):
Thinking about estate planningfor your real estate.
Without a smart approach, theproperty you leave behind could
become an unwelcome burden foryour kids.
Many children simply don't wantto co-manage an inherited house
or deal with the tenants.
Fortunately, you can preventthat with the right plan.
The George Real Estate Groupspecializes in tax-efficient
(33:31):
strategies like 1031 exchangesand Delaware Statutory Trust to
simplify inheritance and incomeplanning.
A 1031 exchange can defer yourcapital gain taxes now and help
your kids avoid a big tax billlater, and a DST lets you
continue earning rental incomewithout landlord headache.
Plus, it can be split amongyour children, making
(33:52):
inheritance easier.
Planning ahead is one of thekindest gifts you can give your
family.
Let us help you secure yourlegacy.
Call the George Real EstateGroup at 828-393-0134 today.
You've worked hard to buildyour legacy.
Speaker 3 (34:11):
Now let us help you protect it for your loved ones.
Thank you for listening to theGeorge Real Estate Group podcast
.
Tune in next time for moreindustry news updates and real
estate tips.
You can reach Greg, the GeorgeReal Estate Group, at
828-393-0134 or atrealestatebygregcom.
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.