November 17, 2025 • 31 mins
Headlines promise quick fixes, but real estate rewards clear thinking and good data. We open the door on Henderson County’s market with a grounded look at what’s actually moving: listings are up, days on market are longer, and prices are holding steady thanks to strong demand in the $350k–$600k range. That context matters when you hear big ideas like a 50-year mortgage. We run the numbers on payment relief versus lifetime interest, slower equity, and the risk of higher rates or flat prices, then explain why real affordability hinges on building more homes, smarter zoning, and creative reuse of space.
From there, we zoom into the buyer mix that’s reshaping offers at the kitchen table. Cash buyers pulled back a bit, while conventional loans grew and FHA and VA surged—evidence that first-time buyers and veterans are stepping forward with strong files and practical expectations. If you’re selling, you’ll learn how to price to the market and structure terms that welcome every qualified buyer. If you’re buying, you’ll hear actionable ways to manage total cost of ownership, evaluate buydowns, and protect exit options without stretching for the wrong house.
We also share a mindset that cuts through stress: wealth equals what you have minus what you want. Measure progress backward—the “gain”—and decisions get easier, from choosing the right neighborhood to timing a move or a 1031 exchange. Our goal is simple: help you protect your wealth, preserve your legacy, and move on your terms with confidence. If you’re planning a change or just want clarity, tap play, then connect with us for a custom strategy. Subscribe, share with a neighbor, and leave a review to help more locals make smarter moves.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_01 (00:00):
Hello, friends.
Thank you so much for beinghere.
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
(00:22):
community.
Thanks so much for subscribing.
And of course, if you have anyreal estate questions or if we
can help you in any way, be sureto reach out.
Visit us at George Real EstateGroup Radio.com for more
information.
Good morning and welcome to theGeorge Real Estate Group Live
(00:45):
Radio broadcasts here on thequeue every Monday morning,
sharing with you positive newsabout your local real estate
marketing community.
So grateful to be here with you.
Can you believe Thanksgiving'saround the corner?
Christmas is around the corner.
It's uh 2026 is around thecorner.
Not to rush it, but again, it'suh it's amazing how time flies
when you're having fun.
(01:05):
A lot to be grateful for, a lotto be thankful for.
We're gonna jump into the numberabout what's going on here
locally in our community withthe real estate market and uh
and just a conversation.
And before we do that, if you'retuning in for the first time,
the George Real Estate Group,we're located in Flat Rock on
Rainbow Row.
We serve all of Western NorthCarolina and the upstate South
(01:26):
Carolina.
We work in the residentialmarket, we work in the
commercial market, we work inthe land market.
We again, if you're in thesecond home market, uh we
specialize in just helping ourclients navigate through uh
their goals and in regards tohow real estate plays in.
It could also be in in regardsto you planning ahead with your
(01:46):
estate, planning ahead maybewith charitable gifts, with
thinking through, you know,maybe considering giving real
estate as uh as a gift tocharity, and there's ways to do
that that can maximize thingsfor you and for the charity.
We work with you know helpingfirst-time home buyers.
We we are so grateful.
We again across the gamut ofwhat we're doing.
We have incredible uh staff, wehave incredible agents, we have
(02:09):
incredible clients.
We we love our clients, we're sograteful for our clients, and
it's truly our clients that makeit all possible.
And it's and it's a privilegeand honor to serve the community
through real estate.
Like I said, we help uh clientsacross the Western North
Carolina and the upstate.
We have a great team in place.
And if you're thinking ofbuying, selling, or investing in
real estate or career in realestate, we're growing our team
(02:31):
as well.
We are on track to help morepeople this year than we did
last year, and that's uh in amarket that's uh somewhat
softening.
And again, we'll talk to itwe'll talk and share about
what's actually happening in ourlocal real estate market.
We tend to use, I mean, we'relocated in Henderson County, so
using Henderson County as the asa basis, we we also work in the
surrounding counties, and wehave these numbers as well, but
(02:53):
like to focus on uh just whenwe're on the radio sharing about
what's going on in HendersonCounty.
If you are curious about otherareas and other counties and
other numbers, and or just aboutyour specific and unique
situation, your unique home,your unique situation, and we
know real estate happens aroundlife.
It could be a really positivereason why you're buying or
selling, it could be achallenging reason.
Whatever it might be, there'sthe the care and empathy that we
(03:15):
provide and and and the inwhatever situation it is, we are
enthusiastic about helping ourclients.
And and sometimes helping meansmaybe it's not the right thing
for you to to buy or sell.
And we're we're not afraid tosay that, but you can call us
directly at 828-3930134.
You can find us online atrealestatebygreg.com.
(03:37):
You can also follow us.
We podcast all of our radioshows.
Find it on your favorite podcastplatform.
Uh we also have social media.
We're on Facebook and Instagram.
We had a number of open housesuh this Sunday and uh this past
weekend, and a lot of activitythere.
Uh and the market continues tomove.
Uh we are seeing the marketmove, and I'll share with you
(04:00):
what's actually what's someactual numbers.
Um, year to date through the endof October, uh, there has been a
14.5% increase in new listings.
So that's part of the dynamic.
We've had an increased number oflistings.
Uh, if we look at year to datethrough the end of uh October,
(04:22):
we've had an almost a 10%increase in the number of closed
sales.
And in a minute, I'm gonnacompare the current 12 months to
the previous 12 months, butright now I'm just looking at
the through the end of October,year to date.
The other fascinating thing isthe days on market are taking
longer, and that's the becauseof the increased uh increased
(04:43):
listings, buyers have morechoices, but days on market and
cumulative days on the marketuntil a sale are are up 40
percent actually.
So, you know, the the themarket's softening, but it's
it's still holding.
The the the market's absolutelystill holding.
And and if you look atyear-to-date, um, year to date,
(05:05):
uh through the end of October,the average sales price is is is
less than a percentagedifferent.
Um also the the median salesprice is is about two percent
lower, uh, which againconsidering what's going on in
in the economy and the marketand the interest rates, you
know, is it's just fascinatinghow our market is holding.
(05:28):
Um and if you're thinking uhabout buying or selling or
investing, or again, your yourfamily's real estate portfolio,
we're having consultations allthe time, providing options,
some answers that might provideclarity for you as you're
looking at the bigger picture.
It's not just about theindividual real estate, whether
it's a uh land or a land leaseor or or property that you have
(05:53):
inherited or going to inherit,or it could be your second home,
or again, could be your personalhome, you know, whatever it
might be, we'd love to have thatconversation.
There's a no there's nopressure, there's no cost,
there's no obligation, and we'vebeen helping provide information
for our clients so they candecide what's ultimately what's
(06:14):
ultimately uh right right forthem.
And so, you know, we love lovehaving the conversation.
We have incredible agents, uh,we have incredible uh staff, and
and we'd love to love to havethe conversation with you if
it's something to you know totalk about.
Here's something that youprobably have seen on the news
(06:34):
recently in the last coupleweeks, the the conversation
about the idea about a 50-yearmortgage.
Um and so this is interesting.
President uh Franklin Rooseveltactually created the 30-year
mortgage.
Um, and this is interesting howthis proposal for this 50-year
(06:57):
mortgage, you know, there's alot of conversations about it,
but I want to take a candid lookat it and whether it really
makes sense or doesn't makesense.
This is uh the Federal HousingAgent Financing Agency called
the idea a game changer, butwhat does it really mean?
You know, most mortgages todayare 30 years, and then some a
(07:21):
lot of people, you know, andsome people get the 15-year
mortgage.
So the 50-year mortgage, whichspread those payments out over
five decades, you know, has itcan lower the monthly cost and
and on at least on paper, helppeople who feel priced out.
(07:45):
For example, a third a$300,000home with you know typical down
payment, you know, uh, you know,the the 30-year mortgage home,
that one of the scenarios hasthat uh at a 6.2% rate that that
have that that payment around$2,300 uh in a 50-year mortgage
(08:09):
at the same rate would be about$2,100.
So does a 50-year mortgage saveon the monthly payment?
Yeah, it's it can save in ascenario, a typical scenario, it
can save about$200 a month.
But here's the problem with it.
The and here's the part thatmatters more than the monthly
(08:32):
payment.
It's the true cost over time.
You know, the the$200 a monthsavings isn't worth it.
A 50-year mortgage dramaticallyincreases how much interest the
buyer pays, even if the interestrate stayed the same, which is
(08:53):
unlikely, the total interestover 50 years is nearly double
what you pay over a 30-yearloan.
And so you end up paying tens ofthousands, and in many cases,
hundreds of thousands more overthe life of the loan.
(09:17):
So while two hundred dollars amonth savings sounds great,
you're essentially trading thatsmall monthly break for a
massive long-term financialburden.
And it's like saving a little ona car payment, but agreeing to
(09:37):
pay, agreeing to drive the samecar for 50 years, month to month
it feels good, but big picture,it doesn't add up.
And so because the 50-year loanis riskier, lenders would
actually likely charge a higherinterest rate, which could wipe
out most of the savings,anyways.
(09:58):
So for most buyers, the mathdoesn't work, and also with such
a long-term loan, you'd beyou're you would build equity
much slower.
And according to Redfin's chiefeconomists, a wave of new buyers
armed with a 50-year loans couldactually push home prices even
(10:19):
higher.
So even though the the currentpresident said in an interview
that the difference between themortgage lengths is not a big
deal, uh a lot of economistsstrongly disagree.
So even if 50-year mortgagesincrease demand, they don't
solve the main issue makinghousing expensive.
(10:44):
It's the lack of supply.
And the U.S.
is still short, over 1.1 millionhomes, and so we're and we're
feeling that shortage right herein Henderson County and across
Western North Carolina.
We don't have enough homeshitting the market, builders
can't keep up, and thecompetition among buyers remains
(11:06):
strong.
And so while the 50-yearmortgage may sound like a bold
idea, it doesn't address thereal root of the problem.
So could a 50-year mortgage helpbuyers qualify?
Yes.
But could it drive up prices,increase lifetime interests,
(11:27):
delay equity, and saddlehomeowners with decades of more
debt?
Also, yes.
So this is a conversation worthwatching and one that could
reshape how Americans thinkabout homeownership.
And if you want to know howdifferent mortgage products
affect your buying power rightnow here in Western North
(11:50):
Carolina, you know, give us acall at the George Real Estate
Group.
We'll walk you through thenumbers.
We have incredible uhpartnerships with lenders, we'll
look at the strategy, we'll makeit what we'll we'll look at what
makes the most sense for yourlong-term financial success.
And here's the thing, home homeownership the the thing about
(12:15):
this, the the the the the equitytrap, you know, if you if you
had a 50-year mortgage, it couldtake 10 to 50, 15 years before
you've paid down a meaningfulprinciple of the more of the of
a meaningful portion of theprincipal.
Another interesting thing is ifthe prices dip or remain flat
(12:37):
flat, homeowners could comebecome trapped, unable to bring
cash to the table.
So again, there's there is somechallenges and some risks of
potential negative equity.
So um again, this is aconversation.
Some this is a conversation.
Did you know some countries usemortgages that effectively get
(13:01):
passed down to their children?
And in a 50-year mortgage pushesthat the the U.S.
actually closer to that model,but but should a mortgage
realistically outlive thehomeowner?
So all these things are are justpart of the conversation.
So again, true affordabilitycomes when we have you know more
(13:21):
inventory, more newconstruction, zoning reform, and
converting unused commercialspace, also incentivizing
builders to create workforcehousing.
Again, without theselonger-term, longer mortgages,
simply stretch the problem, notsolve it.
(13:42):
So we want to have theconversation.
How long do I realistically planto live in the home?
(14:03):
And will I be building anyequity in the first 10 years?
And so, you know, is this isthis really helping me afford
the right home or just a moreexpensive one?
So, him, what if rates droplater and refinancing isn't an
option?
All these things are are againin the conversation.
We'd we'd love to have theconversation uh with you in your
(14:26):
specific situation, yourspecific and unique home,
whether maybe you're afirst-time home buyer, again,
all of these options ultimatelycome to play to decide as we
have these consultations.
And so there as I've saidbefore, we there's never any
pressure, there's never any uhyou know obligation, but if you
just want to have a conversationwith us, and again, we try to
(14:46):
keep educating and and knowledgeabout what's happening in the
industry, um, and we we can welove to keep you here informed
on the radio show as well.
Um I am gonna dive more into thenumbers about what's happening
in the current 12 months versusthe previous 12 months.
At the beginning of the show, Iwas sharing about what was
(15:08):
happening year to date throughthe end of October, but we're
gonna dive into thatconversation and then uh I I
love sharing some talking pointsabout uh different uh different
books that I've come across.
And uh there was a book Irecently came across, another
great book by Morgan Hausell,uh, a great book.
(15:29):
He he wrote a book called ThePsychology of Money.
He also recently released a newbook, which is you might find
this fascinating.
You think everybody knows whatthey're how the how to spend
their money, but he wrote a bookcalled The Art of Spending
Money, and it's called SimpleChoices for a Richer Life, and
that's been an another greatbook I I recommend.
But you're listening to theGeorge Real Estate Group live
(15:52):
radio broadcast here on thequeue every Monday morning.
We have a short break, uh, butwe have a lot more to discuss at
right after this break, so staytuned in.
Good morning and welcome back.
You're listening to the GeorgeReal Estate Group live radio
broadcast here on the queueevery Monday morning.
Grateful to be here with you.
We love helping our clients, welove serving our community.
(16:13):
We have incredible agents,incredible clients.
We and if we can help you in anyway, it's a privilege and honor.
And you can call us directly at828-393-0134-828-3930134.
Follow us on social media or onFacebook and Instagram.
Follow us on your favoritepodcasts, the George Real Estate
Group is on all the podcastplatforms, um Apple, Amazon,
(16:36):
Alexa, Spotify, uh, you know,follow us and we'd love to
connect with you.
Certainly stop by our officeanytime.
Um, and we we would just love toconnect with you and help in any
way.
And again, it's the wide rangeof situations that we help
clients with.
Of course, it's the traditionalif you're upsizing or downsizing
(16:56):
or right sizing, I mean it'syour you're we're helping our
clients navigate their personalhome.
We're helping our clientsnavigate through their second
homes and investment properties.
Uh, we help clients with theirland.
Uh, we help clients thinkingstrategically about their taxes
in regards to real estate.
We help our clients think abouttheir real estate in regards to
donating to charities.
(17:18):
We think strategically aboutlike 1031 exchanges, and and
there's ways that you canactually make more money and pay
less taxes through 1031exchanges, and and we have
solutions for that.
If you're curious about thatwith your real estate, maybe you
have uh large land tracks, maybeyou have maybe you have
(17:40):
commercial real estate andyou're doing a land lease.
I mean, there are and you andthere's really some incredible
strategic ways to take advantageof of the tax code, all amazing.
And I we have great, by the way,we have great CPAs we partner
with, great estate attorneys wepartner with, great financial
advisors.
It's the bigger picture, andwe'd love love to have the
(18:01):
conversation regarding any ofthese uh situations, and and
again, just providinginformation, providing clarity
for you to consider and and howthat how that could help you in
options to options to thinkabout, options to to consider uh
in what you're doing.
Um before I jump into theconversation um I uh about uh
(18:25):
some recent books I've beenreading and some concepts uh
that I that I've heard um andand and this is maybe not maybe
again that something I heardrecently is and I'm gonna dive
into this conversation, but youknow, the the feeling of wealth
is what you have minus what youwant.
(18:48):
And the wealth isn't actuallyabout money, and that's that's
something we're I'm gonna diveinto here.
Wealth is not about money, andwe're we're gonna talk about
that here in just a second.
Before we do that, just uh aquick snapshot.
Um, just a quick snapshot overthe last 12 months versus the
(19:09):
current 12 months in HendersonCounty for single-family homes.
We've had a 10% increase in thenumber of single-family homes
sold in the current 12 monthsversus the previous 12 months.
That's even with higher interestrates, that's even with uh you
(19:30):
know the the the Helene, thenatural disaster, we've had a
10% increase in the number ofsingle family homes sold in
Henderson County.
Even though we've had anincrease, 10% increase in number
of homes sold, we've had a s a2% drop in the average
(19:52):
single-family home price.
So this is an interestingactivity uh there's been
activity more in the in theprice range of$350 to$600 range.
Um, you know, it's a we've had ashift in the mix of homes sold,
and so again, a 2% drop.
(20:15):
The average single-family homeprice over the last uh 12 months
currently is at$539 and change.
So even with a slightly loweraverage price, more homes sold.
So total volume of home sales inHenderson County stayed strong.
(20:38):
Uh, and that was up, of course,because the number of more more
units sold.
But the trend is the biggesttrend, the strongest band of the
market is this 350 to 600, whichis carrying majority of
Henderson County.
But the other biggest uh changeis the the the days on market.
(21:01):
You know, we we are still in aseller-leaning market, but we've
had an increase in the in thedays on market across across the
board.
But the one of the other thingsto point out when I look at the
current 12 months versus theprevious 12 months, is we've had
a slight decrease in the numberof cash buyers, about down seven
percent, but the number ofconventional loans is up eight
(21:26):
percent, but the biggestincrease has been in FHA.
FHA uh loans are up 123%, as ourVA loans are up 41%.
So the first, you know, one ofthe things that we can interpret
from that is the first timebuyer segment is surging back in
(21:48):
due to wage growth, the downpayment programs, and also
buyers are adjusting to newnormal rates.
So the the the market is strong,you know, even though cash
buyers pulled back a little bit,the buyer demand stayed
(22:08):
incredibly strong.
And of course, I I will uh thethe market in Henderson County
remains healthy, active, and andvery competitive.
So um if you're curious aboutyour specific home, your
specific situation, you know,we'd love to have the
(22:28):
conversation and provideinformation, provide clarity.
We have a lot of people uh youknow that are we're talking to.
And whether you're ready now, ormaybe you're ready in six or
twelve months, uh there's noright or wrong time.
It's really what's what's right,what's really what's what's
right for you.
Um, so I also uh I sharedearlier again about the the
(22:52):
conversation about wealth.
I think it's important to talkabout it, but it's it's not just
wealth in the sense of likewealth is not about money.
Wealth is about a feeling.
Actually, true wealth is afeeling long before it's a
number.
Um, and and it's and it's andagain, wealth equals what you
(23:15):
have minus what you want.
And so, you know, people thinkwealth is actually about adding
more, more money, more house,more income, more stuff, and
most people get it backwards.
They think the feeling of wealthis on the other side of a bigger
paycheck, a bigger house, abigger savings account, a bigger
(23:36):
lifestyle.
But the the truth is if yourwants grow faster than your
haves, your wealth actually goesdown.
Think about it.
Someone making 50,000 who wantsnothing more than a simple,
meaningful life can feelwealthier than someone making
five hundred thousand dollarswho constantly feels behind.
(24:00):
You know, it's not the size ofthe bank account, it's the size
of the gap between between yourdesire and reality.
And so the gap, you know, wherestress lives.
If you're feeling stressed aboutmoney, if you feel like you're
behind, if you feel like you'reyou're chase, you're chasing
something, you know, it's it'salways, almost always, because
(24:21):
your wants are outrunning yourhaves.
And so this is a psychologicaltug of war.
Morgan Housel talks about in hisbook, The Psychology of Money.
Saving money is the gap betweenyour ego and your income.
You know, wealth, real wealth,is the gap between your
expectations and your blessings.
And so, you know, you close thatgap and your stress goes down.
(24:45):
Widen the gap, and your anxietyskyrockets no matter your your
income.
And so, you know, this is thisis I love the conversation.
I've talked about this before,the the conversation about the
the gap in the game, you know,where you are versus where you
want to go looking back, lookingback and and putting
(25:08):
perspective.
You know, it's it's about youknow, and I love this other
book, The Gap in the Game, DanSullivan and Dr.
Benjamin Hardy, and it's theythey talk about the gap as when
you measure your life forwardtowards an idea, the goalposts
always moving, the I an idealthat it's always moving, you
(25:29):
compare yourself to where youshould be, what you don't have
yet, what someone else has, youknow, the perfect version of the
future.
It's the place of you know,quote, not enough.
And so when you're in the gap,you're once expand, your
dissatisfaction grows, and noamount of achievement feels like
(25:51):
progress.
So you can be making more moneythan ever, living in your nicest
home ever, and still feel behindbecause the gap is a mindset of
chronic scarcity versus thegain.
The gain is the opposite.
The gain is when you measurebackwards from where you were to
(26:13):
where you are now.
And so you compare yourself toyour past, you compare yourself
to your progress, your growth,your wins, your resilience, the
challenges you've overcome, andthe direction of measurement
instantly shrinks the spacebetween your haves and your
wants.
And in the game, you feelgrateful, you feel grounded, you
(26:36):
feel wealthy, you feel abundant,you feel motivated, you feel
stable.
You don't feel wealthy becauseyou suddenly have more.
You feel wealthy because you'remeasuring it correctly.
And so the difference, you know,here's the magic.
The the gap widens thedifference between what you have
(26:57):
and what you want.
The gain shrinks the distance.
So the wider the distance, thepoorer you feel, the smaller the
distance, the wealthier youfeel.
And this is where and whysomeone making sixty thousand
dollars can feel rich whilesomeone making six hundred
thousand dollars can feel broke.
It's not about the money, it'sabout the measurement.
(27:17):
So when you're in the gap,you're once ballooned out of
control, and when you're in thegain, you see how blessed you
are already are.
Again, perspective.
So the gain is the gateway tofeeling wealthy right now, not
someday.
So, you know, you don't needmore to feel wealthy.
(27:39):
You need to shift how youmeasure wealth is what you have
minus what you want.
The gain is how you shrink thegap.
So it's perspective.
It puts, you know, look how faryou've come, look what you've
accomplished, look what you'veovercome, and again, the
progress, look at yourresilience.
(28:01):
Again, it's perspective.
Perspective changes everything.
And again, don't compare yourinsides to someone else's
outsides.
And again, you can be caught upin the trap of keeping up with
the Joneses.
And we certainly see that inreal estate, but again, the we
here and here's the thing.
(28:21):
At the George Real Estate Group,we just we don't just talk about
buying or selling homes.
We talk about the psychologybehind the decisions because
wealth isn't just a number, youknow, it's a feeling.
And that that feeling comes fromliving in the game, not the gap.
And so when you measurebackwards, when you appreciate
(28:43):
what you have, when you getclear about what really matters,
the gap shrinks, the stressclears, and life gets richer.
So wealth is what you have minuswhat you want, and the moment
you move into the game, yourealize you're already closer
than you think.
We're so grateful to be herewith you every Monday morning
(29:04):
right after the 9 o'clock news.
We're here every week, Monday onthe queue.
And of course, we'd love toconnect with you.
Give us a call directly at828-3930134.
You can find us online atrealestatebygreg.com.
We podcast all of our radioshows.
Uh, you can follow us on yourfavorite podcast platform.
But of course, if we can helpyou in any way, give us a call
(29:26):
828-3930134.
Have a great day, and we'll seeyou next Monday.
You've built a lifetime ofstrength, wisdom, and
independence.
And here's the best part youstill have it.
Every decision, every step,every next chapter is yours to
(29:46):
choose.
Selling your home isn't aboutletting go, it's about opening
the door to more freedom, moretime for what you love, more
energy for the people andpassions that matter most.
At the George Real Estate Group,we believe independence isn't
behind you.
It's right here, right now.
(30:07):
Our team goes beyond buying andselling.
We're here to help you protectyour wealth, preserve your
legacy, and make sure Uncle Samdoesn't become your biggest
benefactor.
We'll guide you every step ofthe way towards your next
chapter, your next opportunity,and your freedom on your terms.
Call us at 828-393-0134.
(30:31):
Find us online atrealestatebygreg.com.
SPEAKER_00 (30:34):
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.
(30:56):
You can find them online atrealestatebygreg.com.
The George Real Estate Group canbe reached at 828-393-0134 or
stop by their office at 2720Greenville Highway, Flat Rock,
North Carolina.
Tune in live each week on Mondaymornings at 905 on WTZQ FM 95.3
(31:20):
and 1600 AM, or stream online atWTZQ.com.
Hello, friends.
Thank you so much for beinghere.
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
(00:22):
community.
Thanks so much for subscribing.
And of course, if you have anyreal estate questions or if we
can help you in any way, be sureto reach out.
Visit us at George Real EstateGroup Radio.com for more
information.
Good morning and welcome to theGeorge Real Estate Group Live
(00:45):
Radio broadcasts here on thequeue every Monday morning,
sharing with you positive newsabout your local real estate
marketing community.
So grateful to be here with you.
Can you believe Thanksgiving'saround the corner?
Christmas is around the corner.
It's uh 2026 is around thecorner.
Not to rush it, but again, it'suh it's amazing how time flies
when you're having fun.
(01:05):
A lot to be grateful for, a lotto be thankful for.
We're gonna jump into the numberabout what's going on here
locally in our community withthe real estate market and uh
and just a conversation.
And before we do that, if you'retuning in for the first time,
the George Real Estate Group,we're located in Flat Rock on
Rainbow Row.
We serve all of Western NorthCarolina and the upstate South
(01:26):
Carolina.
We work in the residentialmarket, we work in the
commercial market, we work inthe land market.
We again, if you're in thesecond home market, uh we
specialize in just helping ourclients navigate through uh
their goals and in regards tohow real estate plays in.
It could also be in in regardsto you planning ahead with your
(01:46):
estate, planning ahead maybewith charitable gifts, with
thinking through, you know,maybe considering giving real
estate as uh as a gift tocharity, and there's ways to do
that that can maximize thingsfor you and for the charity.
We work with you know helpingfirst-time home buyers.
We we are so grateful.
We again across the gamut ofwhat we're doing.
We have incredible uh staff, wehave incredible agents, we have
(02:09):
incredible clients.
We we love our clients, we're sograteful for our clients, and
it's truly our clients that makeit all possible.
And it's and it's a privilegeand honor to serve the community
through real estate.
Like I said, we help uh clientsacross the Western North
Carolina and the upstate.
We have a great team in place.
And if you're thinking ofbuying, selling, or investing in
real estate or career in realestate, we're growing our team
(02:31):
as well.
We are on track to help morepeople this year than we did
last year, and that's uh in amarket that's uh somewhat
softening.
And again, we'll talk to itwe'll talk and share about
what's actually happening in ourlocal real estate market.
We tend to use, I mean, we'relocated in Henderson County, so
using Henderson County as the asa basis, we we also work in the
surrounding counties, and wehave these numbers as well, but
(02:53):
like to focus on uh just whenwe're on the radio sharing about
what's going on in HendersonCounty.
If you are curious about otherareas and other counties and
other numbers, and or just aboutyour specific and unique
situation, your unique home,your unique situation, and we
know real estate happens aroundlife.
It could be a really positivereason why you're buying or
selling, it could be achallenging reason.
Whatever it might be, there'sthe the care and empathy that we
(03:15):
provide and and and the inwhatever situation it is, we are
enthusiastic about helping ourclients.
And and sometimes helping meansmaybe it's not the right thing
for you to to buy or sell.
And we're we're not afraid tosay that, but you can call us
directly at 828-3930134.
You can find us online atrealestatebygreg.com.
(03:37):
You can also follow us.
We podcast all of our radioshows.
Find it on your favorite podcastplatform.
Uh we also have social media.
We're on Facebook and Instagram.
We had a number of open housesuh this Sunday and uh this past
weekend, and a lot of activitythere.
Uh and the market continues tomove.
Uh we are seeing the marketmove, and I'll share with you
(04:00):
what's actually what's someactual numbers.
Um, year to date through the endof October, uh, there has been a
14.5% increase in new listings.
So that's part of the dynamic.
We've had an increased number oflistings.
Uh, if we look at year to datethrough the end of uh October,
(04:22):
we've had an almost a 10%increase in the number of closed
sales.
And in a minute, I'm gonnacompare the current 12 months to
the previous 12 months, butright now I'm just looking at
the through the end of October,year to date.
The other fascinating thing isthe days on market are taking
longer, and that's the becauseof the increased uh increased
(04:43):
listings, buyers have morechoices, but days on market and
cumulative days on the marketuntil a sale are are up 40
percent actually.
So, you know, the the themarket's softening, but it's
it's still holding.
The the the market's absolutelystill holding.
And and if you look atyear-to-date, um, year to date,
(05:05):
uh through the end of October,the average sales price is is is
less than a percentagedifferent.
Um also the the median salesprice is is about two percent
lower, uh, which againconsidering what's going on in
in the economy and the marketand the interest rates, you
know, is it's just fascinatinghow our market is holding.
(05:28):
Um and if you're thinking uhabout buying or selling or
investing, or again, your yourfamily's real estate portfolio,
we're having consultations allthe time, providing options,
some answers that might provideclarity for you as you're
looking at the bigger picture.
It's not just about theindividual real estate, whether
it's a uh land or a land leaseor or or property that you have
(05:53):
inherited or going to inherit,or it could be your second home,
or again, could be your personalhome, you know, whatever it
might be, we'd love to have thatconversation.
There's a no there's nopressure, there's no cost,
there's no obligation, and we'vebeen helping provide information
for our clients so they candecide what's ultimately what's
(06:14):
ultimately uh right right forthem.
And so, you know, we love lovehaving the conversation.
We have incredible agents, uh,we have incredible uh staff, and
and we'd love to love to havethe conversation with you if
it's something to you know totalk about.
Here's something that youprobably have seen on the news
(06:34):
recently in the last coupleweeks, the the conversation
about the idea about a 50-yearmortgage.
Um and so this is interesting.
President uh Franklin Rooseveltactually created the 30-year
mortgage.
Um, and this is interesting howthis proposal for this 50-year
(06:57):
mortgage, you know, there's alot of conversations about it,
but I want to take a candid lookat it and whether it really
makes sense or doesn't makesense.
This is uh the Federal HousingAgent Financing Agency called
the idea a game changer, butwhat does it really mean?
You know, most mortgages todayare 30 years, and then some a
(07:21):
lot of people, you know, andsome people get the 15-year
mortgage.
So the 50-year mortgage, whichspread those payments out over
five decades, you know, has itcan lower the monthly cost and
and on at least on paper, helppeople who feel priced out.
(07:45):
For example, a third a$300,000home with you know typical down
payment, you know, uh, you know,the the 30-year mortgage home,
that one of the scenarios hasthat uh at a 6.2% rate that that
have that that payment around$2,300 uh in a 50-year mortgage
(08:09):
at the same rate would be about$2,100.
So does a 50-year mortgage saveon the monthly payment?
Yeah, it's it can save in ascenario, a typical scenario, it
can save about$200 a month.
But here's the problem with it.
The and here's the part thatmatters more than the monthly
(08:32):
payment.
It's the true cost over time.
You know, the the$200 a monthsavings isn't worth it.
A 50-year mortgage dramaticallyincreases how much interest the
buyer pays, even if the interestrate stayed the same, which is
(08:53):
unlikely, the total interestover 50 years is nearly double
what you pay over a 30-yearloan.
And so you end up paying tens ofthousands, and in many cases,
hundreds of thousands more overthe life of the loan.
(09:17):
So while two hundred dollars amonth savings sounds great,
you're essentially trading thatsmall monthly break for a
massive long-term financialburden.
And it's like saving a little ona car payment, but agreeing to
(09:37):
pay, agreeing to drive the samecar for 50 years, month to month
it feels good, but big picture,it doesn't add up.
And so because the 50-year loanis riskier, lenders would
actually likely charge a higherinterest rate, which could wipe
out most of the savings,anyways.
(09:58):
So for most buyers, the mathdoesn't work, and also with such
a long-term loan, you'd beyou're you would build equity
much slower.
And according to Redfin's chiefeconomists, a wave of new buyers
armed with a 50-year loans couldactually push home prices even
(10:19):
higher.
So even though the the currentpresident said in an interview
that the difference between themortgage lengths is not a big
deal, uh a lot of economistsstrongly disagree.
So even if 50-year mortgagesincrease demand, they don't
solve the main issue makinghousing expensive.
(10:44):
It's the lack of supply.
And the U.S.
is still short, over 1.1 millionhomes, and so we're and we're
feeling that shortage right herein Henderson County and across
Western North Carolina.
We don't have enough homeshitting the market, builders
can't keep up, and thecompetition among buyers remains
(11:06):
strong.
And so while the 50-yearmortgage may sound like a bold
idea, it doesn't address thereal root of the problem.
So could a 50-year mortgage helpbuyers qualify?
Yes.
But could it drive up prices,increase lifetime interests,
(11:27):
delay equity, and saddlehomeowners with decades of more
debt?
Also, yes.
So this is a conversation worthwatching and one that could
reshape how Americans thinkabout homeownership.
And if you want to know howdifferent mortgage products
affect your buying power rightnow here in Western North
(11:50):
Carolina, you know, give us acall at the George Real Estate
Group.
We'll walk you through thenumbers.
We have incredible uhpartnerships with lenders, we'll
look at the strategy, we'll makeit what we'll we'll look at what
makes the most sense for yourlong-term financial success.
And here's the thing, home homeownership the the thing about
(12:15):
this, the the the the the equitytrap, you know, if you if you
had a 50-year mortgage, it couldtake 10 to 50, 15 years before
you've paid down a meaningfulprinciple of the more of the of
a meaningful portion of theprincipal.
Another interesting thing is ifthe prices dip or remain flat
(12:37):
flat, homeowners could comebecome trapped, unable to bring
cash to the table.
So again, there's there is somechallenges and some risks of
potential negative equity.
So um again, this is aconversation.
Some this is a conversation.
Did you know some countries usemortgages that effectively get
(13:01):
passed down to their children?
And in a 50-year mortgage pushesthat the the U.S.
actually closer to that model,but but should a mortgage
realistically outlive thehomeowner?
So all these things are are justpart of the conversation.
So again, true affordabilitycomes when we have you know more
(13:21):
inventory, more newconstruction, zoning reform, and
converting unused commercialspace, also incentivizing
builders to create workforcehousing.
Again, without theselonger-term, longer mortgages,
simply stretch the problem, notsolve it.
(13:42):
So we want to have theconversation.
How long do I realistically planto live in the home?
(14:03):
And will I be building anyequity in the first 10 years?
And so, you know, is this isthis really helping me afford
the right home or just a moreexpensive one?
So, him, what if rates droplater and refinancing isn't an
option?
All these things are are againin the conversation.
We'd we'd love to have theconversation uh with you in your
(14:26):
specific situation, yourspecific and unique home,
whether maybe you're afirst-time home buyer, again,
all of these options ultimatelycome to play to decide as we
have these consultations.
And so there as I've saidbefore, we there's never any
pressure, there's never any uhyou know obligation, but if you
just want to have a conversationwith us, and again, we try to
(14:46):
keep educating and and knowledgeabout what's happening in the
industry, um, and we we can welove to keep you here informed
on the radio show as well.
Um I am gonna dive more into thenumbers about what's happening
in the current 12 months versusthe previous 12 months.
At the beginning of the show, Iwas sharing about what was
(15:08):
happening year to date throughthe end of October, but we're
gonna dive into thatconversation and then uh I I
love sharing some talking pointsabout uh different uh different
books that I've come across.
And uh there was a book Irecently came across, another
great book by Morgan Hausell,uh, a great book.
(15:29):
He he wrote a book called ThePsychology of Money.
He also recently released a newbook, which is you might find
this fascinating.
You think everybody knows whatthey're how the how to spend
their money, but he wrote a bookcalled The Art of Spending
Money, and it's called SimpleChoices for a Richer Life, and
that's been an another greatbook I I recommend.
But you're listening to theGeorge Real Estate Group live
(15:52):
radio broadcast here on thequeue every Monday morning.
We have a short break, uh, butwe have a lot more to discuss at
right after this break, so staytuned in.
Good morning and welcome back.
You're listening to the GeorgeReal Estate Group live radio
broadcast here on the queueevery Monday morning.
Grateful to be here with you.
We love helping our clients, welove serving our community.
(16:13):
We have incredible agents,incredible clients.
We and if we can help you in anyway, it's a privilege and honor.
And you can call us directly at828-393-0134-828-3930134.
Follow us on social media or onFacebook and Instagram.
Follow us on your favoritepodcasts, the George Real Estate
Group is on all the podcastplatforms, um Apple, Amazon,
(16:36):
Alexa, Spotify, uh, you know,follow us and we'd love to
connect with you.
Certainly stop by our officeanytime.
Um, and we we would just love toconnect with you and help in any
way.
And again, it's the wide rangeof situations that we help
clients with.
Of course, it's the traditionalif you're upsizing or downsizing
(16:56):
or right sizing, I mean it'syour you're we're helping our
clients navigate their personalhome.
We're helping our clientsnavigate through their second
homes and investment properties.
Uh, we help clients with theirland.
Uh, we help clients thinkingstrategically about their taxes
in regards to real estate.
We help our clients think abouttheir real estate in regards to
donating to charities.
(17:18):
We think strategically aboutlike 1031 exchanges, and and
there's ways that you canactually make more money and pay
less taxes through 1031exchanges, and and we have
solutions for that.
If you're curious about thatwith your real estate, maybe you
have uh large land tracks, maybeyou have maybe you have
(17:40):
commercial real estate andyou're doing a land lease.
I mean, there are and you andthere's really some incredible
strategic ways to take advantageof of the tax code, all amazing.
And I we have great, by the way,we have great CPAs we partner
with, great estate attorneys wepartner with, great financial
advisors.
It's the bigger picture, andwe'd love love to have the
(18:01):
conversation regarding any ofthese uh situations, and and
again, just providinginformation, providing clarity
for you to consider and and howthat how that could help you in
options to options to thinkabout, options to to consider uh
in what you're doing.
Um before I jump into theconversation um I uh about uh
(18:25):
some recent books I've beenreading and some concepts uh
that I that I've heard um andand and this is maybe not maybe
again that something I heardrecently is and I'm gonna dive
into this conversation, but youknow, the the feeling of wealth
is what you have minus what youwant.
(18:48):
And the wealth isn't actuallyabout money, and that's that's
something we're I'm gonna diveinto here.
Wealth is not about money, andwe're we're gonna talk about
that here in just a second.
Before we do that, just uh aquick snapshot.
Um, just a quick snapshot overthe last 12 months versus the
(19:09):
current 12 months in HendersonCounty for single-family homes.
We've had a 10% increase in thenumber of single-family homes
sold in the current 12 monthsversus the previous 12 months.
That's even with higher interestrates, that's even with uh you
(19:30):
know the the the Helene, thenatural disaster, we've had a
10% increase in the number ofsingle family homes sold in
Henderson County.
Even though we've had anincrease, 10% increase in number
of homes sold, we've had a s a2% drop in the average
(19:52):
single-family home price.
So this is an interestingactivity uh there's been
activity more in the in theprice range of$350 to$600 range.
Um, you know, it's a we've had ashift in the mix of homes sold,
and so again, a 2% drop.
(20:15):
The average single-family homeprice over the last uh 12 months
currently is at$539 and change.
So even with a slightly loweraverage price, more homes sold.
So total volume of home sales inHenderson County stayed strong.
(20:38):
Uh, and that was up, of course,because the number of more more
units sold.
But the trend is the biggesttrend, the strongest band of the
market is this 350 to 600, whichis carrying majority of
Henderson County.
But the other biggest uh changeis the the the days on market.
(21:01):
You know, we we are still in aseller-leaning market, but we've
had an increase in the in thedays on market across across the
board.
But the one of the other thingsto point out when I look at the
current 12 months versus theprevious 12 months, is we've had
a slight decrease in the numberof cash buyers, about down seven
percent, but the number ofconventional loans is up eight
(21:26):
percent, but the biggestincrease has been in FHA.
FHA uh loans are up 123%, as ourVA loans are up 41%.
So the first, you know, one ofthe things that we can interpret
from that is the first timebuyer segment is surging back in
(21:48):
due to wage growth, the downpayment programs, and also
buyers are adjusting to newnormal rates.
So the the the market is strong,you know, even though cash
buyers pulled back a little bit,the buyer demand stayed
(22:08):
incredibly strong.
And of course, I I will uh thethe market in Henderson County
remains healthy, active, and andvery competitive.
So um if you're curious aboutyour specific home, your
specific situation, you know,we'd love to have the
(22:28):
conversation and provideinformation, provide clarity.
We have a lot of people uh youknow that are we're talking to.
And whether you're ready now, ormaybe you're ready in six or
twelve months, uh there's noright or wrong time.
It's really what's what's right,what's really what's what's
right for you.
Um, so I also uh I sharedearlier again about the the
(22:52):
conversation about wealth.
I think it's important to talkabout it, but it's it's not just
wealth in the sense of likewealth is not about money.
Wealth is about a feeling.
Actually, true wealth is afeeling long before it's a
number.
Um, and and it's and it's andagain, wealth equals what you
(23:15):
have minus what you want.
And so, you know, people thinkwealth is actually about adding
more, more money, more house,more income, more stuff, and
most people get it backwards.
They think the feeling of wealthis on the other side of a bigger
paycheck, a bigger house, abigger savings account, a bigger
(23:36):
lifestyle.
But the the truth is if yourwants grow faster than your
haves, your wealth actually goesdown.
Think about it.
Someone making 50,000 who wantsnothing more than a simple,
meaningful life can feelwealthier than someone making
five hundred thousand dollarswho constantly feels behind.
(24:00):
You know, it's not the size ofthe bank account, it's the size
of the gap between between yourdesire and reality.
And so the gap, you know, wherestress lives.
If you're feeling stressed aboutmoney, if you feel like you're
behind, if you feel like you'reyou're chase, you're chasing
something, you know, it's it'salways, almost always, because
(24:21):
your wants are outrunning yourhaves.
And so this is a psychologicaltug of war.
Morgan Housel talks about in hisbook, The Psychology of Money.
Saving money is the gap betweenyour ego and your income.
You know, wealth, real wealth,is the gap between your
expectations and your blessings.
And so, you know, you close thatgap and your stress goes down.
(24:45):
Widen the gap, and your anxietyskyrockets no matter your your
income.
And so, you know, this is thisis I love the conversation.
I've talked about this before,the the conversation about the
the gap in the game, you know,where you are versus where you
want to go looking back, lookingback and and putting
(25:08):
perspective.
You know, it's it's about youknow, and I love this other
book, The Gap in the Game, DanSullivan and Dr.
Benjamin Hardy, and it's theythey talk about the gap as when
you measure your life forwardtowards an idea, the goalposts
always moving, the I an idealthat it's always moving, you
(25:29):
compare yourself to where youshould be, what you don't have
yet, what someone else has, youknow, the perfect version of the
future.
It's the place of you know,quote, not enough.
And so when you're in the gap,you're once expand, your
dissatisfaction grows, and noamount of achievement feels like
(25:51):
progress.
So you can be making more moneythan ever, living in your nicest
home ever, and still feel behindbecause the gap is a mindset of
chronic scarcity versus thegain.
The gain is the opposite.
The gain is when you measurebackwards from where you were to
(26:13):
where you are now.
And so you compare yourself toyour past, you compare yourself
to your progress, your growth,your wins, your resilience, the
challenges you've overcome, andthe direction of measurement
instantly shrinks the spacebetween your haves and your
wants.
And in the game, you feelgrateful, you feel grounded, you
(26:36):
feel wealthy, you feel abundant,you feel motivated, you feel
stable.
You don't feel wealthy becauseyou suddenly have more.
You feel wealthy because you'remeasuring it correctly.
And so the difference, you know,here's the magic.
The the gap widens thedifference between what you have
(26:57):
and what you want.
The gain shrinks the distance.
So the wider the distance, thepoorer you feel, the smaller the
distance, the wealthier youfeel.
And this is where and whysomeone making sixty thousand
dollars can feel rich whilesomeone making six hundred
thousand dollars can feel broke.
It's not about the money, it'sabout the measurement.
(27:17):
So when you're in the gap,you're once ballooned out of
control, and when you're in thegain, you see how blessed you
are already are.
Again, perspective.
So the gain is the gateway tofeeling wealthy right now, not
someday.
So, you know, you don't needmore to feel wealthy.
(27:39):
You need to shift how youmeasure wealth is what you have
minus what you want.
The gain is how you shrink thegap.
So it's perspective.
It puts, you know, look how faryou've come, look what you've
accomplished, look what you'veovercome, and again, the
progress, look at yourresilience.
(28:01):
Again, it's perspective.
Perspective changes everything.
And again, don't compare yourinsides to someone else's
outsides.
And again, you can be caught upin the trap of keeping up with
the Joneses.
And we certainly see that inreal estate, but again, the we
here and here's the thing.
(28:21):
At the George Real Estate Group,we just we don't just talk about
buying or selling homes.
We talk about the psychologybehind the decisions because
wealth isn't just a number, youknow, it's a feeling.
And that that feeling comes fromliving in the game, not the gap.
And so when you measurebackwards, when you appreciate
(28:43):
what you have, when you getclear about what really matters,
the gap shrinks, the stressclears, and life gets richer.
So wealth is what you have minuswhat you want, and the moment
you move into the game, yourealize you're already closer
than you think.
We're so grateful to be herewith you every Monday morning
(29:04):
right after the 9 o'clock news.
We're here every week, Monday onthe queue.
And of course, we'd love toconnect with you.
Give us a call directly at828-3930134.
You can find us online atrealestatebygreg.com.
We podcast all of our radioshows.
Uh, you can follow us on yourfavorite podcast platform.
But of course, if we can helpyou in any way, give us a call
(29:26):
828-3930134.
Have a great day, and we'll seeyou next Monday.
You've built a lifetime ofstrength, wisdom, and
independence.
And here's the best part youstill have it.
Every decision, every step,every next chapter is yours to
(29:46):
choose.
Selling your home isn't aboutletting go, it's about opening
the door to more freedom, moretime for what you love, more
energy for the people andpassions that matter most.
At the George Real Estate Group,we believe independence isn't
behind you.
It's right here, right now.
(30:07):
Our team goes beyond buying andselling.
We're here to help you protectyour wealth, preserve your
legacy, and make sure Uncle Samdoesn't become your biggest
benefactor.
We'll guide you every step ofthe way towards your next
chapter, your next opportunity,and your freedom on your terms.
Call us at 828-393-0134.
(30:31):
Find us online atrealestatebygreg.com.
SPEAKER_00 (30:34):
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.
(30:56):
You can find them online atrealestatebygreg.com.
The George Real Estate Group canbe reached at 828-393-0134 or
stop by their office at 2720Greenville Highway, Flat Rock,
North Carolina.
Tune in live each week on Mondaymornings at 905 on WTZQ FM 95.3
(31:20):
and 1600 AM, or stream online atWTZQ.com.
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