Episode Transcript
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Speaker 1 (00:00):
Welcome to the Real Estate News Radio Show, your
trusted source for marketinsights around the nation, with
some special love for ourheadquarters here in beautiful
Asheville, north Carolina.
I'm your host, romina Patton,and whether you're an agent, a
homebuyer, a home seller, abuilder, an investor did I miss
(00:21):
anyone there?
Or just curious about where themarket's heading man, we got
some figures for you today.
So, before we dive in, I havean announcement After 13
incredible years hosting thislive show every Saturday, our
final broadcast on the radiowill be on Saturday, june 14th.
(00:42):
The local station is scalingback and recorded segments have
replaced much of the live localvoice, including ours, and I
just love doing it live.
So it's been an honour to behere with you live and I'll be
continuing the show, just in anew format and actually it's an
(01:03):
old format because I've beendoing the podcast now for many,
many years, so you can keeplistening, learning and staying
ahead with us atrealestatenewsradiocom.
That's realestatenewsradiocom,where the podcast version of the
show, which I've been doing formany years, will continue every
week, as it has for quite awhile now.
(01:24):
Which I've been doing for manyyears will continue every week,
as it has for quite a while nowA special shout out to my
listener in Denver, colorado,who listens to me on her night
shift, who just asked me to helpwith listing a home.
And of course you'll still beable to call me, rowena Patton,
at 828-333-4483.
And we can help you around thecountry.
(01:46):
And of course, I'm stilllisting homes here in beautiful
Asheville and Andersonville andWaynesville and all around the
mountains.
So if you've ever tuned in andthought I'll call next week or I
should go and download thepodcast, now is the time to do
it and you'll have the choice ofall of those different
(02:07):
categories and things to look atso you can choose what you want
whenever you want to.
So go and bookmark itrealestatenewsradiocom.
You can get it anywhere.
You listen to podcasts and staywith us as we move into this
new chapter more flexible, morein-depth and just as real, I
promise you and as you get tolisten to it whenever you want.
(02:29):
And, quite honestly, manypeople now prefer podcasts over
radio, especially as well.
Many of our cars are set uptoday to link up with our phones
for our navigation andeverything else, so of course,
you can play books on tape orlisten to the podcast.
You know where to find me, ofcourse, as always.
If you'd like more data or wantto connect 101, call me
(02:52):
directly, 24-7-828-333-4483.
And that number is live 24-7,all day.
Every day.
We have people picking up thephone during the night, so if
you've got any real estatequestions or just want to say hi
, you know where to find us.
(03:12):
Let's dive into today's hottopic, and we've got a whole
bunch more for you as well.
The first segment we're goingto be talking about is home
builder sentiment and why thelatest numbers could signal a
major shift ahead in the figures.
You know I've been talkingabout this for a while.
So, according from according tonew data from the national
(03:35):
association of home builders,they're set, they have a
sentiment number, basically, andthe home builder sentiment
dropped to 34 in May 2025.
Now what does that mean?
It means it's at its lowestlevel for this month in 13 years
.
That's obviously a steepdecline from 45 this time last
(03:58):
year.
The last time we saw a numberthis low, we were deep in the
housing crash of 2007 to 2012.
So what's going on?
Builders are seeing less buyertraffic, more cancellations and
rising pressure to offerdiscounts.
Over 60% of builders are nowoffering sales incentives just
(04:21):
to get those deals for new homesacross the finish line, and
that's the highest level.
This is a killer one.
This is the highest level ofbuilder incentives since 2009.
So when we look at actualnumber of homes for sale,
florida now leads the nation,and we're going to dig into
(04:42):
these, because what does allthis mean?
But Florida leads the nationwith more than 182,000 homes for
sale.
So just a year ago we werestill saying, oh, there's not
much inventory out there andgosh, we just don't have any
homes to look at.
Texas and California are rightbehind with 123,000 and then
(05:07):
65,000 active listings.
Inventory in Colorado, northCarolina and Georgia is all up
over 40% year over year.
That's 40% more homes.
And even with all that inventoryon the market, home prices are
still holding high in manyplaces.
(05:28):
In many places.
Massachusetts tops the chartsat nearly $800,000, followed
closely by California and NewYork.
So in short, we've got risingsupply and still stubborn prices
, and that's created what theycall an affordability squeeze.
Many would-be buyers aresitting on the sidelines and
(05:51):
builders are feeling the pinch.
Some states, like Montana andColorado, are starting to see
price drops.
A few others, like NewHampshire and Idaho, are still
trending upwards, but much lessso than when they were before,
and usually it all pushes up tothat handful of states which
we're going to talk a lot moreabout coming up here today.
(06:16):
So depending on where you are,the correction may have already
started In our market.
Here we flattened about twoyears ago and what I mean by
that is things went up just alittle bit and that's pretty
much constant across all of themiddle states and lower states
across the south.
So you know, for my regularsyou'll know that I've been
(06:38):
flagging this for almost a yearnow of constant price cuts
greater than previous years.
So what does that mean?
In three to six months whenthese homes close?
Obviously they'll close at alower price because of the price
cuts, which means that theother comparable homes will tend
to trend down in value.
(06:58):
You know, when you sell a homethat gets closed out at a
certain price on the MLS and theappraisers look at the price it
closed at when they're lookingto give appraisals for mortgages
for similar types of homes.
So we've already noticed anuptick in homes not appraising
(07:20):
in areas around the country andgenerally this is because of
homes closing at a lower pricepoint and of course as well with
what's going on in the economy,sometimes banks being more
cautious because of the numbersthat they're seeing.
And before you jump into, oh, itwill all be okay next year,
again for my regulars, you'veheard me talk about Clément
(07:41):
Juglar.
He set the economic cycle backin 1860, seven to 11 years.
So I'd expect for the next twoor three years here to be
trending downwards, whateverthat means where you're at.
So the big takeaway is we maybe heading into a real pricing
reset, especially in the SunbeltStates.
(08:01):
They're really overheated aswell during the pandemic.
That's a big part of it.
It's all COVID related, becausethey went crazy as people moved
out of those other states.
So for agents, sellers,investors, this is the moment to
pay attention.
So that wraps up today's HomeBuilder Market Update on the
(08:26):
Real Estate News Radio Show.
And if you're wondering how thisshift affects your market, or
if you're thinking about buyingor selling, don't go it alone.
Visit realestatenewsradiocom,realestatenewsradiocom, or call
me directly at 828-333-4483.
Whether you're here inAsheville or listening from
(08:48):
around the country, I'd love tohelp you navigate what's next.
So stay tuned.
We're going to have some morenational trends, some more local
trends, some smart strategiesand a lot of local love coming
from the mountains.
So let's dive into our nextsegment, a trend that's picking
up steam fast.
Inventory is climbing in keymarkets, and I can do national
(09:13):
and local here, because NorthCarolina is on this map halfway
down.
So if you've been watching thereal estate headlines, any news
that you watch, or podcasts thatyou listen to or anywhere else
where you get your news Althoughthat's not really true, because
a lot of agents are out theregoing, oh, it's the best time to
buy, including a lot ofcelebrity agents, actually,
(09:36):
because I think they're scaredof telling people really what's
happening in case the marketgoes really nutty.
Nobody wants that to happen.
But the fact is, the figuresare the figures and I feel
you're intelligent enough tomake your own decisions by
having your own numbers.
So you may have noticed in someof these headlines that start
(09:57):
giving you the figures, thatthere's a lot more homes for
sale right now.
So when you look at and a lotof these are sourced from
realtorcom and Zillow and theresearch has been done on a
number of different sites Someof the country's hottest housing
markets are seeing an inventorysurge, and you know we like to
(10:20):
speak in plain English.
What do we mean by that there'sa lot more inventory.
It's just houses, number ofrooftops that are going out
there, and we're seeing reallyare seeing a surge in some areas
.
We're seeing double digits, insome cases, 50% increases over
last year.
So here's the top 10 right nowby number of homes for sale.
(10:44):
And even though we're airing onthe radio you may be listening
to, we're also on the podcast,so share this podcast with your
friends Realestatenewsradiocom.
Just tell them to ask for theone on figures changing Gosh.
I haven't come up with aheadline yet for what it's going
to be called, but you'll beable to find it as the date for
(11:07):
21, 22, the 24th of May 2025.
And you should have that anyway, because these figures are
generally from in the lastcouple of weeks.
So here are the top 10 states,and that changes all the time,
so we've got to keep watchingright, which, of course, I'll do
for you.
Here are the top 10 states weneed a drum roll here by the
(11:27):
number of homes for sale andtheir year over year inventory
growth.
In other words, how much is itup from last year?
Number one are you ready forthis?
Florida 182,589 homes are forsale.
That is up 34.9%.
So they're in order of homesfor sale right now, not the
(11:51):
percentage increase, becausewe've got some larger ones than
that.
Texas is the number two withnumber of homes for sale 123,237
homes for sale.
That's up nearly 30%.
California, are you ready forit?
64,963 homes for sale up 51.1%over 50%, guys.
(12:17):
That's the largest one on here.
I guess a lot of people areselling their homes in
California and moving out.
That is a trend that we've seen.
And then in Georgia 42,000.
Georgia comes in at number four42,846 homes for sale.
That is up 41%.
(12:38):
And here we go.
Number five North Carolina35,438 homes for sale, up 43%.
Pretty similar numbers inWestern North Carolina, where
our headquarters are.
New York 31,562 homes for sale.
(13:02):
Then we've and that's only upthree percent from last year
Arizona 30, and Arizona'sanother one to really watch.
Um, I'm so Texas is up there atnumber two.
Arizona and Texas, the ones towatch right now 30,084 homes,
that is up 34.30%.
(13:23):
These are big rises.
This is a surge, guys.
And number nine we've gotColorado 24,093 homes, up 50.3%.
That is just behind California,which is at 51.1%.
And then, of course, just southof us, in South Carolina, is up
(13:45):
29.4% and that's 23,898 homesfor sale.
So let's put that intoperspective.
We're not just seeing morelistings, we're seeing an
inventory growth at levels andI'm not saying this to scare you
, I'm just giving you figureswe're seeing inventory growth at
(14:07):
levels not seen since thepost-2008 housing crash.
And behind the scenes, talkingabout builders, the builders are
responding.
Over 60% of builder listingsnow include some form of
incentive.
It could be closing costassistance.
It could be price reductions ofincentive.
It could be closing costassistance.
It could be price reductions,appliance upgrades and more.
(14:31):
So what does that mean?
It means that actually it'sgoing to be a little harder in
areas where you've got a lot ofbuilders doing this to sell your
used home.
I like to call them used homesjust because it's funny, because
it's not a brand new home.
And, by the way, guys, this iswhere CPO comes in.
If you've got an older home andwe've got so many agents now
knowing how to do this that arefully certified around the
(14:54):
country certified pre-ownedthat's where you get the
inspection first.
You need this.
It's even better if you get theappraisal.
Why?
Because you're more able tocompete with new homes.
Even better, if you do theappraisal, the trifecta of
(15:15):
certified pre-owned is doing theinspection before you list it.
You don't have to fix anythingcan disclose it.
That's where everybody goes ineyes wide open and it is a
massive change when you do thatbecause, especially if you offer
a home warranty, that's thetrifecta, as I mentioned,
because now you're offering whatthe builders are offering.
(15:36):
You're offering a home thatdoesn't have any issues or you
know the issues, going in eyeswide open.
The price we always say theprice has taken that into
perspective and I have agentstrained for you everywhere in
the country.
Guys, you're hearing the figuresyou need to certify pre-owned
your home.
I was just on the broker incharge In North Carolina.
(15:59):
A broker in charge is a brokerwho is supervising other agents,
so I've been a broker in chargefor a long time.
We have to do continuingeducation, like many other types
of things that you know orindustries where they have
license.
I did that today for many hoursand I cannot tell you how much
(16:20):
time we probably spent 50% ofthe time talking about what we
should do in situations wherethere's complaints from buyers,
from sellers towards agentsagainst agents, against buyers
against sellers, people suingeach other because of things
that went wrong with the housethat weren't disclosed,
(16:41):
certified, pre-own it and mostof that goes away.
We're spending all of our timein real estate doing repair
requests and pricing homes, notknowing what's wrong with them,
and we're competing with newhome builders here.
You've got to listen to thesefigures.
Over 60% of builder listingsnow include some form of
(17:03):
incentive.
So if you're a home buyer andagain I'm not going to hide
these facts from you because youneed to know them, especially
if you're selling an older homeor one where you know it needs
something doing to it, lets youhave you competing at the same
level.
We've got plenty of help forbuilders as well.
Don't worry, builders out there.
We've got builder CPO we'regoing to be talking about in a
(17:25):
second.
But honestly, I spent I was on aZoom call for four hours today
doing my update and much of thattalked about problems with
inspections.
The vast majority of that goesaway to the point that, when
you're not certified, pre-ownedhomes drop out on average over
(17:47):
30% of the time.
Now what does that mean?
It means you've got your houselisted, you're going to get a
contract.
Everybody's excited.
Over 30% of the time they'regoing to drop out.
It's not because we're not greatlisting agents, it's because we
don't have control over thebuyers.
They may do something like Idon't know, lease a car or
something right before and nothave the credit where they need
(18:07):
it to buy the home, or not haveenough income.
Even more importantly, it'salso because we haven't done I
just think we haven't done ourdiligence as listing agents and
the sellers, getting thatinspection done first and again.
You don't have to fix anything.
I'm more than happy to gothrough all this in detail.
828-333-4483.
(18:30):
I've got agents trained in thisall around the country.
I have a bestselling book on it.
If you've got builders that areoffering incentives and you were
a buyer, wouldn't you startlooking at new homes anywhere in
the country where this ishappening and that's much of the
country right now?
Why wouldn't you look at a newhome if they're offering all
these incentives?
So if you're selling your home,you need to be able to compete
(18:54):
against new homes, and certifiedpre-owned is how you do that.
What you know we've got closingcost assistance, price
reductions, appliance upgradesand more from builders.
So what does this mean for theaverage homeowner?
And what about investors oragents?
Let's look at an opportunityfor people wanting to build a
new home and agents that like towork with new homes is where it
(19:18):
gets really interesting in mybook, literally because moments
like these create real windowsof opportunity.
One of the biggest missedopportunities for agents right
now is partnering with builders.
Let's be honest builders needhelp and most of us as agents
certainly everybody in mynetwork have a big database of
(19:39):
people that are always asking usto recommend a builder.
So we're building lists ofbuilders all around the country.
We're going to see them asagents.
If you want to get on that list, just give me a call builders
828-333-4483.
And we have a program for you.
So builders around the countryhave spec homes now piling up.
In fact, they're slowing downon building them.
(20:00):
They've also got buyers thatwant to move in but haven't sold
their existing home, and that'sabout 60% of people are selling
their existing home to moveinto their new home.
And how on earth do you knowwhen to list your home when
you're building a new one?
Because builders most of thetime and it's not their fault
can't give you an exact datewhen they're going to get the
(20:22):
certificate of occupancy.
Ie, you can move in Two weeksbefore they get their CO.
They do know and that's whereBuild a CPO comes in.
So if you're an agent, build aCPO gives you the tools and the
training and the coaching ofcourse to solve one of the
biggest pain points for buildersand people building a new home.
(20:43):
It's such a pain the contingentbuyer, the one that can't move
forward until they sell and howdo they know when to list it.
What a pain with Build a CPO andI've done a whole show on this
that you can find on the podcastcalled Build a CPO will be in
the title.
So if you want to learn moreabout it, go to
realestatenewsradiocom.
Realestatenewsradiocom.
(21:07):
Realestatenewsradiocom.
Remember the live show isyou're probably listening way
after this, because peoplelisten to the podcast six months
later on a particular topic.
So if you're listening sixmonths later, the show won't be
airing live on the networkanymore because they've cut most
of the local talent.
There are very few live showsleft and they've offered me to
record it every week, which youknow.
(21:29):
I can give you that on thepodcast, quite frankly, and you
can choose when to listen, andit's just better for you.
So realestatenewsradiocom, justdon't forget, hop over there.
So you know it makes it mucheasier to unlock with Build a
CPO when you're building a home.
The best part as an agent youget the listing because now
(21:49):
you're the best agent to getthat home sold because it's
going to be certified pre-owned.
It's all LinkedIn, guys, andthat's anywhere in the country
and you can get up to 70% ofyour funds, your equity, in your
home within 14 days.
That's how we're able to do itwith a co.
But it's not one of those cashoffers.
(22:10):
It's a full market value offer.
We go in, we spruce it up.
You don't have to do anything.
Our funding partner pays forthe upgrades up front and then
we sell it and you get a secondcheck.
Two-thirds of our sellers makemore.
It's fueled by Cash CPO thatyou've already heard me talk
about many times.
If you're a regular listener,this is buildacpocom.
(22:32):
You can go for more informationif you'd like it.
I've got all kinds of tools foryou if you're an agent.
We have an app now calledListing Royalty that.
I've just been on a six-monthhiatus almost to build this app
and get lots of training andlots of coaching on there to
elevate agents and help themwith training.
(22:54):
I've got all the top CEOs fromall the real estate brokerages
on there.
It's called Listing Royalty.
So if you're an agent, downloadit List royalty.
I can unlock all kinds ofprograms for you on this.
So you get to stay in thetransaction as an agent.
The builder gets to close and,most of all, the buyer gets
peace of mind.
If you've ever built a newhouse, what you're doing is
(23:16):
calling the builder over andover again Is it ready yet?
Are you still going to hit thatdate?
Now all of that goes away.
Ready yet?
Are you still going to hit thatdate?
Now all of that goes away.
So all you do two weeks beforethe transaction, before the CO,
the certificate of occupancy,that's when the builder says
it's going to be ready.
Two weeks before that, 98% ofthe time you will be able to hit
(23:38):
that date.
I actually did a whole show onthis with Joe Shively a couple
of months ago.
You can look that up on thepodcast at
realestatenewsradiocom.
Big button on their podcast.
You can choose whateverdifferent topic that we've
spoken about.
So the builder CPO is reallyit's a win, win, win.
It's a win for the agent, it'sa win for the person who's
(24:00):
buying the new home A lot lessstress, they're not so nervous
and so stressed all the waythrough, and obviously it's a
win for the builders, and youknow we've got builders out
there who are reducing theirprices and offering lots of
incentives to stay afloat andit's just, it's a really, really
great program.
So if you're listening to thisas a homeowner, this is what you
(24:24):
want to keep an eye on.
So the inventory is rising.
Prizes haven't fallen asquickly yet, so that's the good
thing.
If you're thinking about selling, now is the time to position
yourself smartly.
Stage it right, price it right,market it aggressively and
it'll still sell well.
But don't wait, please don'twait.
(24:44):
It will mean more competition.
We're seeing every month nowunless you're listening in the
northeast and we'll go throughwhat they are.
And if you are up thereespecially Massachusetts or
Connecticut, new York, newJersey give me a call,
828-333-3333, and I will gothrough all those numbers with
(25:07):
you.
828-333-4483.
That number is open 24 7.
We can help you anywhere in thecountry with the best trained
agents.
We now have an app that's gotso much training on it and we
unlock it all for our networkagents, because we don't want to
be putting agents onto you thatare not trained in that.
(25:31):
It's just a higher level oftraining and I don't want to
tell you.
We do a call every day intraining.
We do a deep dive on a thursday.
We've got a facebook group andwe've got this app with all this
great training on it and it'sfive minute bite-sized pieces on
all of this.
And those of you who havelistened to me before know that
we've got senior living programs.
(25:51):
We've got all kinds of programson there to help you, whether
you're a home seller or an agent, or you know somebody that's
just trying to get into the nextsituation.
Now, of course you know we'vetalked about home sellers.
It's all about marketing itright.
Of course you can get your fullmarket value offer at
cashcpocom.
(26:12):
Cashcpocom, you can put it inyourself or have your agent do
it for you.
You want some help with that?
You can give me a call or go torealestatenewsradiocom for all
of the details.
If you're buying, this isfinally good news More choices,
more leverage and builders whoare finally willing to negotiate
(26:33):
again, especially in theSunbelt states like Florida,
texas and the Carolinas, expectinventory to climb even higher
through the summer and earlyfall.
Why?
Because it's our season.
South Florida not so much so,obviously, but we've already
seen big drops, especially inSouth Florida, especially in
condos.
So if you're thinking aboutpicking up a condo down there,
(26:56):
there's all kinds of incentivesright now.
You want it as a winter homeand you live in the mountains or
live somewhere cooler could bea good time to start looking Not
a bad time at all.
That's why it's always anopportunity.
However you're looking atthings, whatever is happening in
(27:16):
the market, it's an opportunityfor someone.
Speaker 2 (27:19):
Hey, sean Hannity, here talking with the only real
estate agent in your market.
I recommend Rowena Patton withAll Star Powerhouse.
Now more than ever, buyers andsellers need an expert to
navigate this ever-changingmarket.
And what do you do to stand out?
Speaker 1 (27:35):
You know I got into real estate in 2007.
I have a lot of experience allof the way down and I sold more
homes than anybody else.
And I did that throughexperience, marketing,
negotiation, and in today'smarket you need that experience
more than ever.
Agents for the last two orthree years really haven't
(27:57):
learned a whole lot aboutanything that's difficult about
to market, because you couldjust stick a sign outside the
door and put a lock box on thedoor and boom, it's gone
tomorrow with three multipleoffers.
That is not the market we're inanymore.
Speaker 2 (28:10):
Call Rowena Patton right now at 828-333-4483 or
online at mountainhomehuntcom.
Speaker 1 (28:20):
For those of you here in Asheville or Western North
Carolina.
All around here you're seeing asimilar trend, but not quite as
dramatic.
Our inventory is up, especiallyin the 600 and up range, very
similar to what happens in eachprice modification arena, shall
(28:41):
we say, when prices are goingdown for three to five years and
then they go up for three tofive years, but they go up more
in the three to five year nextperiod, as the line you see in
real estate is always up overtime.
So in other words, if you keepyour home for 10 years, then
chances are it's going to beworth dramatically more.
(29:03):
We're starting to see somesoftening price expectations is
probably a nice way of puttingit.
So the good news in WesternNorth Carolina we've still got
strong demand from relocators,retirees and second home buyers,
although the second home buyermarket is also the first one
that gets hurt in a nervouseconomy, which is what's going
(29:25):
on right now.
I know personally people whoare looking to buy those
$600,000 to $900,000 homes or600 and up homes that live
locally, that want to come andstay here for the weekend Places
like Charlotte, which is onlytwo hours away plus people that
(29:45):
just want a second home here.
So this means sellers need towork with an agent who
understands today's buyers.
We need to use really smartpricing strategy and there's all
kinds of things that go intothat.
It's not just oh, the house is$599, and therefore we need to
put it at $600 to capture bothof it.
(30:07):
There's way more than that goesinto it and also leveraging
modern programs.
So we've got builder CPO, we'vegot cash CPO, we've got senior
living CPO.
We've got all kinds of programs.
There are estate CPO, tunnel totower CPO to get deals across
the finish line.
In case you just tuned in, I'mRowena Patton.
(30:28):
This is the Real Estate NewsRadio Show.
You all know we're going tostop going live.
You're probably listening tothis on the podcast.
Anyway, we've got 10 times asmany listeners on the podcast on
June 14th.
So we won't be on at that 10 amspot on a Saturday anymore
because the local station whereeverything used to be recorded
(30:48):
is making big cuts and they'renot having live producers in on
a Saturday and I decided Ididn't want to do a recorded
show, which is what they offeredme.
So we won't be on at 10 o'clockafter the middle of June.
So make sure you check us outon the Real Estate News Radio
show.
I'm still doing the showrealestatenewsradiocom
(31:09):
realestatenewsradiocom.
Or, of course, you can call medirectly at 828-333-4483.
This is Rowena Patton with EXPRealty.
So you're tuned in to the RealEstate News Radio show where we
bring you our real estate trendsfrom across the country.
We have a special focus on ourhome base, asheville and the
(31:30):
mountain counties of WesternNorth Carolina.
I'm your host, rowena Patz, andif you've got real estate
questions, want to chat aboutstrategy?
I do strategy calls every day.
So I've done over 3,500transactions in my real estate
career.
(31:51):
A lot of people know me as theperson who can get those more
unusual homes sold.
So if you're out in the boonies, you'll know what I mean by
that.
If your house needs a littlebit of work, if you've got a
perfect house and it's out inthe boonies and of course I live
all the perfect houses in townas well.
So don't think I'm only for thedifficult to sell homes or more
(32:14):
difficult to sell homes, notdifficult to sell.
Everything sells.
It's just about the marketingstrategy and the strategy to get
it sold, everything that goesinto that.
So in this segment we're goinghyper local.
We're diving into real housingdata for Buncombe, henderson,
hayward, mcdowell, mitchell,rutherford and Yancey counties,
(32:38):
looking at median home prices,price growth and inventory
trends.
Let's dig in Now.
If you're listening around thecountry, as I know many of you
are, I've got you calling measking to sell homes in
California, in Denver, inFlorida.
(33:00):
Help with those.
We can help you all over thecountry network, many of whom,
or all of whom, are highlytrained and know how to do the
cash CPO offer, the builder CPO,all of the other things that we
offer, as well as, of course,conventional listings.
I hope that goes without saying, but some of the you've never
heard me before, so it doesn'tgo without saying.
(33:23):
We do all of the givens.
So we do professionalphotography, we do great
photography, we do great droneshots.
We price it really well.
I have a lot of experience atthis point to do all the things
you expect.
We put it on 300 websites.
All the things that you expect.
I call those givens, but we do.
(33:44):
We go over and above.
We do the memories video.
The memories video is, if youwant to.
You know, usually we'reattached to the house and we
think we're attached to thehouse and really we're attached
to the memories.
What do I mean by that?
I actually came up with thiswhen I went to see a couple
(34:05):
whose daughter got marriedcoming down the stairs and she
was described.
I actually said to her Susan,susan, it really seems like you
don't want to sell this house,and that is just right.
And she said no, my daughtergot married coming down the
stairs and shared lots of otherpersonal stories.
And I said, well, that's okay,because we do a memories video
for you.
And she said I don't want to beon video.
I said that's fine, we'll justwalk around and capture the
(34:26):
memories for you.
We put it up on YouTube or youcan just keep it on your
computer and share it with yourkids, your kids' kids, your
great grandkids, whomever youwant to share it with.
So let's have a look at somemedian home values in the seven
Western North Carolina countiesas of mid 2025,.
(34:47):
Just in case you're listeningto this one, in six months time
or three years time, we've gotmany years on the podcast at
realestatenewsradiocom.
Share it with your friends,please.
So Transylvania leads at 478.
You might be surprised by that.
One Buncombe is right behind.
That's the heart of Asheville,of course.
(35:07):
473, 987, so 474 and of coursea lot of these median prices are
pulled down by condos and byhouses that are a little bit
further out in Buncombe County,because if you look at Asheville
it's proper, it's more like600,000.
Henderson County, that's whereHendersonville is 433, so about
(35:28):
$40,000 lower Henderson County,that's where Hendersonville is
433.
So about $40,000 lower.
Jackson is 442.
Hayward that's an interestingone sits at 355,777.
So 356.
So, as you can see,considerably lower.
And for many years people havebeen moving west to Waynesville
(35:48):
and Maggie Valley, which isHaywood County.
So we've got the difference inHaywood County, which is only
gosh.
You've been at Haywood Countyin 20 minutes going west.
If you're talking aboutWaynesville, you're more like
half an hour.
You can still get back intoAsheville very easily if that's
what you're looking for.
So we've got the difference andI'm just going to round up here
(36:10):
to make the numbers easierBetween the median price at
$356,000 for the Waynesvillearea, that is up over $100,000
in Buncombe County, theAsheville area, so $474,000.
So obviously that's a big jump.
It's $120,000 more on average,I guess you could say, even
(36:31):
though these are the medianprices.
And then we've got YanceyCounty at $313,000.
Obviously it's a drop even more.
Mcdowell County $256,000 or$257,000.
So remember too, when you'rebuying in these less expensive
areas, these less expensiveareas, this is how it all
happens, guys, and you'll knowthis.
People, you know the householdincome hasn't gone up anywhere
(36:56):
near the same price at theprices of the homes.
So people slowly but surelymove out.
You know servers, for example.
A server is going to be able toafford the $474 median house
point that is in the Ashevillearea and honestly it's more like
$500,000, $600,000 when youlook at Asheville proper.
(37:16):
This is being pulled down.
But many people blue collarworkers, people who work for a
living can't afford a house over$400,000.
And McDowell is coming in at$257,000.
You can actually afford a house.
So that's why people startmoving out.
As more people start moving out, that creates more of a demand
(37:37):
which puts prices up.
Big shocker.
I know Rutherford is the lowestin that group at $209,000.
You can buy a median home valuein Rutherford County is 209.
So you know the numbers confirmwhat we've all been feeling.
Buncombe and Henderson remainsthe price anchors for the region
.
Nothing has changed there,while outer counties like
(38:01):
McDowell and Rutherford stilloffer affordability, at least
for now and by at least for nowI mean as more and more people
realize they can get a homethere.
And here's the deal when youwork with them.
So let's say, you know there'sa lot of restaurants here and a
lot of servers after all, we area tourist region.
So if you're a server andyou're in asheville and you say
(38:23):
to your agent, hey, I need ahouse, most of those agents are
going to set you up in buncombeCounty.
Why?
Because they don't necessarilywant to drive an hour to
Rutherford or drive an hour toMcDowell to show you a home.
That makes sense, right?
So what you want to do is workwith an agent in those areas, or
(38:44):
work with an agent that has ateam and has agents that live in
those areas.
Just being honest about thatYou're going to have.
And also, if you live inAsheville or you live in
Hensonville, how well do youknow Waynesville?
You might have an agent thatsays, oh, I grew up here, but
you can't know the ins and outsof Waynesville if you don't live
there or live in the area.
(39:05):
So really, really, reallyworthwhile, you know, just work
with an agent in that area.
They're going to know moreabout it.
So let's talk about appreciation, because even though all this
mess is going on and this getsso hard to understand, and I
understand that.
So let's talk aboutappreciation.
How has there been appreciationwhen we're seeing price cuts go
(39:27):
up so dramatically?
Because the average consumerdoesn't see that the price cuts
are going through the roof.
The average consumer just says,oh, I see there's a few more
homes on the market.
They don't see that there'shalf as 50% more than last year
in most of our counties aroundthe country, around the country.
(39:50):
So they're not seeing that insix months time that's going to
have a big jump in terms of, ora big drop, should I say, in
terms of prices.
So Yancey is up about 3%.
That's leading the pack.
But you'll also see in a lot ofthese areas I'm talking about,
the average price in Yancey is3.13.
So if you've got a lower price,an increase of a few thousand
(40:10):
dollars can push it up in thosepercentage points.
Mitchell County 2.2%.
Mcdowell 1.9%.
Henderson 1.4%.
Buncombe is 1%.
Haywood is 2.8%.
Rutherford's the only oneshowing decline.
It's probably because of theLake Law area at minus 2.7,
because of what happened inHelene.
(40:32):
A lot of people are saying, oh,it's because of Helene, some of
it is Rutherford.
Probably is, because it was sodevastating in all of Western
North Carolina and in some waysbecause of the late law area and
because that is primarily justa seasonal market, you know,
probably double, triple,quadruples in terms of number of
(40:54):
people in the summer that onegot really hit hard.
A love goes out to you LakeLure and Rutherford County.
So even though bonecrumbs arethe most expensive, price growth
has slowed and in the mostexpensive counties you're going
to see more of a slowing thanthe other ones, which is the
other interesting piece of that.
(41:15):
Now here's where it getsinteresting.
Active listings tell us whereit's about to happen or tell us
what's about to happen.
Buncombe has around 1,100 forsale.
Of course you know, by the timeyou listen to this the numbers
will have changed slightly.
Henderson has about 560, soabout half.
(41:37):
Hayward has 321.
Rutherford 285.
That's a lot for Rutherford.
Mcdowell 145.
Mitchell's 62.
And Yancey 99.
Buncombe's inventory isapproaching pre-pandemic highs.
I can show you all the map.
If you live locally and want tosee the map or the graph of
(41:59):
what is happening, it's goingthrough the roof More than happy
to send it to you, 828-333-4483.
Seven-year trend that's what weneed to look at.
So let's zoom in on Buncombewith let's put our hysterical
glasses on otherwise known ashistorical lens.
Back in 2019, buncombe Countyhad 1,300 homes on the market
(42:22):
the peak.
Then came the sharp decline.
So, 2021, 460.
Obviously, that's a massivedifference.
It's under a third.
2022, just 311.
No wonder people were sayingthere's nothing to buy.
Of course there was 311.
So I always said there'ssomething out there, you just
have to find the right one.
2023, inventory startedclimbing again 481.
(42:46):
2024, 649, right.
So wow, we went from 311 in2022 to 649 last year.
And wait for it.
2025, we're back at 1125 homesfor sale.
That's a 262% increase in justthree years and that tells us
(43:09):
something loud and clear Buyersare gaining leverage.
So, guys, you have to get itright.
If you're thinking aboutselling your home right now,
give me a call, I'll go throughit with you 828-333-4483.
So for buyers, this is greatnews, of course More choices,
more negotiation power and alittle more breathing room.
(43:33):
For sellers, it really is timeto get strategic.
So gone are the days, for nowat least, of multiple offers at
24 hours.
It hasn't been that way inWestern North Carolina and much
of the country for over twoyears.
I've been saying that for twoyears now that we were flat and
waiting for this decrease tohappen, and many of you, even in
(43:54):
that time, have said well,we'll give it another year,
we'll give it another year.
Things are still going up.
Well, in Asheville we've hadabout 1% of increase.
Now, of course, 1% is something, but in my book that's a big
gamble.
To wait it out for 8%, you know, I personally that all depends
(44:15):
on where your risk tolerance isright.
So, 1%, I probably.
Of course you don't know at thetime, you don't know it's only
going to be 1%, but I would havesaid get out a year ago.
And of course, the best thing todo in most cases is sell and
rent for three years untilthings are at the bottom.
Two or three years at thebottom.
(44:36):
But who can do that right?
So you find a great deal on theother side and hey, just find a
great agent for that.
You can always call us828-333-4483 and I'll go through
your absolute figures with you,zip codes with 30 data points
anywhere in the USA.
So you need staging.
Maybe you need correct pricingand possibly some programs like
(45:01):
Cash CPO, build a CPO, seniorLiving CPO, estate CPO to unlock
equity faster and stand out.
These are not cheesy cash offerprograms where you get 70 cents
on the dollar.
Ours is producing 90 cents to$1.20 on the dollar because we
go in and you don't have to doanything.
(45:22):
You get up to 70% on the firstround and then you know you're
able to move and make anon-contingent offer on your
next home and just take downthat domino basically.
And then we go in and do ourHGTV like magic and sell your
home and generally, when thosethings have been done and you
(45:45):
don't have to put any money outor anything to do it, that all
comes out of the profit at theend.
Of course, none of this hardwork comes for free, but two
thirds of the time we're gettingmore money than with a
conventional listing.
But you haven't had showings,you haven't had a sign outside,
you haven't had a lockbox on thedoor.
I've done lots of shows aboutthis.
You can go back in the podcastsat realestatenewsradiocom to
(46:10):
find those quite easily Ifyou've just tuned in.
We will not be on air becauseit will be a recorded show from
June 14th.
So you won't hear us on air atWNC 570 or syndicated on Fox.
You will hear us syndicated onthe World Wide Web, of course,
realestatenewsradiocom, and youcan listen in your time zone
(46:34):
when you want to Like.
I have listeners who listen tome on their night shift,
realestatenewsradiocom.
Make sure you've gone there anddownloaded the link to the
podcast so I don't lose you as afriend in a few weeks here.
So let's go back and have a lookat some more historical context
for a minute, because it reallydoes put it into perspective.
(46:58):
And, of course, if you'relistening from around the
country, I've got an amazingnetwork of agents that can help
you.
Give us a call 828-333-4483.
This is therealestatenewsradiocom podcast
with Rowena Patton, exp Realty.
So if you're listening in fromaround the country, incredible,
(47:20):
amazing network of agents thatare more highly trained.
I get them certified in allkinds of programs and I do day,
literally daily training and adeep dive on a Thursday and I
can get you started and give youmaps of what's happening in
your zip code 30 different datapoints.
I can send you the reportanywhere in the USA.
(47:42):
And if you're wondering abouthow unusual the current market
slowdown is locally and remember, if you're listening, around
the country this is happening,many, many counties some of them
.
You have way worse drops or uhdifferentials than we do.
So we're a good bellwether formost of the usa right now, so
right here in buncombe county.
(48:03):
So so this is Zillow andRealtorcom data from April 2024
to April 2025.
So 2024 to April 2025, we'relooking at home value growth.
So the last comparing the twoAprils, home value growth was
(48:24):
1.2%.
So that sounds pretty decent,right?
So that's what a lot of theagents, including some of the
celebrity agents, are spinning.
Oh well, you've had growth of1.2%, and you know you think
about a $500,000 house.
What are you talking about?
$5,000?
That's a decent amount, right.
So that's not terrible.
(48:44):
$2,500 or $250.
At least it's an increase,right?
However, that's a huge dropfrom where we've been Again,
it's a canary guys.
You've got to listen to thefigures.
Let's go back a few years April2021, that's not that far away,
right.
We saw a nearly 14% growth 2022, so the next year, it spiked
(49:07):
again to nearly 18%, and then2023, it dropped to 4.4.
And now we're sitting at 1.2%.
Obviously, that shows adeceleration, right.
So prices aren't crashing,that's not what I'm saying, but
they're cooling quickly andwe're returning to what looks
more normal or even softeningmarket.
(49:29):
In fact, I've been predictingfor a while here now that it's
going to soften.
It's always going to soften atsome point, unless we say that
history doesn't hold true.
And it's been holding truesince 1860 with good old Clément
Jugla who set the economiccycle.
It goes down for a while andthen it comes back up again, and
with real estate it tends to beworth more.
(49:50):
However, depending on what yourplans are and that's why the
strategy is so important it'slikely to take it's seven to 11
years before we peak again.
I think we're two years into it, so that would be five to nine
years before we peak again.
If you can hold on for thelowest five years I always use
10 years because that makes itmore realistic Then hold on,
(50:14):
because your house is going tobe worth more.
Absolutely, have at it.
I think it's a great idea.
So you know, the thing is, guys, this is the kind of data that
informs smarter decisions, moreintelligent decisions.
So, whether you're thinkingabout listing it or buying in
this market, or maybe you'reinvesting, or maybe you're an
(50:35):
agent, do you know we lost 84%of agents last year?
84%, that's insanity.
Tell me some other businesswhere you know that's happened.
You can't because it hasn'tright.
(51:07):
It hasn years where you couldstick a sign outside and a
lockbox on the door and the homesells.
That's why there were so manyfor sale by owners, because it
was an easy sale.
Many agents just aren't schooledin what to do, because you have
to do a lot more work whenyou're listing a home.
There's a lot more work whenyou're in a market like we're in
(51:28):
now.
You need a lot more experienceto get that house out there.
You can't just stick a signoutside and hope that it sells.
I think that's why we lost somany agents and because of the
way the world's changing.
You know a lot of theseagencies now are virtual.
I'm in a virtual agency, exp.
However, I also have an office.
I do Zoom calls every day.
(51:50):
I also have a physical officeso that agents can come in, and
for my agents around the countryI have a Zoom call every single
day.
It takes work.
It's just work in a differentway.
So you know things are happeningin real estate.
It's definitely not all bad.
It's just more normalizing.
Guys, I hate to tell you.
So you know, just just thinkabout it if you're selling and
(52:14):
if you are selling and youreally want to get your home
sold, ie you're not just dippingyour toe in and saying, oh,
we'll try it next year because,guys, next year the prices are
likely to be lower.
Just know that now.
Of course, what your buyersmight like might be lower too,
depends on what you're doing.
Maybe you're moving to anothercountry.
Maybe you're moving into anindependent senior living.
(52:34):
Maybe you're moving intoassisted.
Maybe you don't know yet All isgood.
That wraps up today's fullepisode of the Real Estate News
Radio Show.
We covered national shifts,builder sentiment, soaring,
inventory and the locallandscape right here in the
mountains of western NorthCarolina.
Remember, saturday June 14thwill be our final live radio
(52:57):
broadcast, but this show is farfrom over.
You can keep listening weeklyat realestatenewsradiocom.
It's free, it's flexible andit's where the show continues.
No commercial cuts, nocorporate restraints.
I'm Rowena Patton and you'vebeen listening to the Real
Estate News Radio Show.
Want to know how your zip codecompares anywhere in the country
(53:19):
?
Curious what's happening inyour neighborhood?
Head over torealestatenewsradiocom or give
me a call at 828-333-4483.
I've loved spending mySaturdays with you for the past
13 years.
I've made it in through snow.
I've never not made it to theradio show other than Helene,
when they wouldn't let me in.
(53:39):
Literally Thank you for beingpart of this incredible journey.
The live show may be ending,but the conversation isn't and
the live show is really when youcall me at 828-333-4483,.
Right, and it's allpersonalized.
People are often interestedwhen they actually get me on the
phone because they think Idon't know, I'm some kind of AI
(54:01):
robot or something and I'm notreal.
But I really am here.
I am and I'm waiting to helpyou.
So head over torealestatenewsradiocom, follow
the podcast and let's keep goingtogether.
I'll see you next week on thepodcast.
Your friend in real estate.
This is Ro.
Welcome to the Real Estate News Radio Show, your
trusted source for marketinsights around the nation, with
some special love for ourheadquarters here in beautiful
Asheville, north Carolina.
I'm your host, romina Patton,and whether you're an agent, a
homebuyer, a home seller, abuilder, an investor did I miss
(00:21):
anyone there?
Or just curious about where themarket's heading man, we got
some figures for you today.
So, before we dive in, I havean announcement After 13
incredible years hosting thislive show every Saturday, our
final broadcast on the radiowill be on Saturday, june 14th.
(00:42):
The local station is scalingback and recorded segments have
replaced much of the live localvoice, including ours, and I
just love doing it live.
So it's been an honour to behere with you live and I'll be
continuing the show, just in anew format and actually it's an
(01:03):
old format because I've beendoing the podcast now for many,
many years, so you can keeplistening, learning and staying
ahead with us atrealestatenewsradiocom.
That's realestatenewsradiocom,where the podcast version of the
show, which I've been doing formany years, will continue every
week, as it has for quite awhile now.
(01:24):
Which I've been doing for manyyears will continue every week,
as it has for quite a while nowA special shout out to my
listener in Denver, colorado,who listens to me on her night
shift, who just asked me to helpwith listing a home.
And of course you'll still beable to call me, rowena Patton,
at 828-333-4483.
And we can help you around thecountry.
(01:46):
And of course, I'm stilllisting homes here in beautiful
Asheville and Andersonville andWaynesville and all around the
mountains.
So if you've ever tuned in andthought I'll call next week or I
should go and download thepodcast, now is the time to do
it and you'll have the choice ofall of those different
(02:07):
categories and things to look atso you can choose what you want
whenever you want to.
So go and bookmark itrealestatenewsradiocom.
You can get it anywhere.
You listen to podcasts and staywith us as we move into this
new chapter more flexible, morein-depth and just as real, I
promise you and as you get tolisten to it whenever you want.
(02:29):
And, quite honestly, manypeople now prefer podcasts over
radio, especially as well.
Many of our cars are set uptoday to link up with our phones
for our navigation andeverything else, so of course,
you can play books on tape orlisten to the podcast.
You know where to find me, ofcourse, as always.
If you'd like more data or wantto connect 101, call me
(02:52):
directly, 24-7-828-333-4483.
And that number is live 24-7,all day.
Every day.
We have people picking up thephone during the night, so if
you've got any real estatequestions or just want to say hi
, you know where to find us.
(03:12):
Let's dive into today's hottopic, and we've got a whole
bunch more for you as well.
The first segment we're goingto be talking about is home
builder sentiment and why thelatest numbers could signal a
major shift ahead in the figures.
You know I've been talkingabout this for a while.
So, according from according tonew data from the national
(03:35):
association of home builders,they're set, they have a
sentiment number, basically, andthe home builder sentiment
dropped to 34 in May 2025.
Now what does that mean?
It means it's at its lowestlevel for this month in 13 years
.
That's obviously a steepdecline from 45 this time last
(03:58):
year.
The last time we saw a numberthis low, we were deep in the
housing crash of 2007 to 2012.
So what's going on?
Builders are seeing less buyertraffic, more cancellations and
rising pressure to offerdiscounts.
Over 60% of builders are nowoffering sales incentives just
(04:21):
to get those deals for new homesacross the finish line, and
that's the highest level.
This is a killer one.
This is the highest level ofbuilder incentives since 2009.
So when we look at actualnumber of homes for sale,
florida now leads the nation,and we're going to dig into
(04:42):
these, because what does allthis mean?
But Florida leads the nationwith more than 182,000 homes for
sale.
So just a year ago we werestill saying, oh, there's not
much inventory out there andgosh, we just don't have any
homes to look at.
Texas and California are rightbehind with 123,000 and then
(05:07):
65,000 active listings.
Inventory in Colorado, northCarolina and Georgia is all up
over 40% year over year.
That's 40% more homes.
And even with all that inventoryon the market, home prices are
still holding high in manyplaces.
(05:28):
In many places.
Massachusetts tops the chartsat nearly $800,000, followed
closely by California and NewYork.
So in short, we've got risingsupply and still stubborn prices
, and that's created what theycall an affordability squeeze.
Many would-be buyers aresitting on the sidelines and
(05:51):
builders are feeling the pinch.
Some states, like Montana andColorado, are starting to see
price drops.
A few others, like NewHampshire and Idaho, are still
trending upwards, but much lessso than when they were before,
and usually it all pushes up tothat handful of states which
we're going to talk a lot moreabout coming up here today.
(06:16):
So depending on where you are,the correction may have already
started In our market.
Here we flattened about twoyears ago and what I mean by
that is things went up just alittle bit and that's pretty
much constant across all of themiddle states and lower states
across the south.
So you know, for my regularsyou'll know that I've been
(06:38):
flagging this for almost a yearnow of constant price cuts
greater than previous years.
So what does that mean?
In three to six months whenthese homes close?
Obviously they'll close at alower price because of the price
cuts, which means that theother comparable homes will tend
to trend down in value.
(06:58):
You know, when you sell a homethat gets closed out at a
certain price on the MLS and theappraisers look at the price it
closed at when they're lookingto give appraisals for mortgages
for similar types of homes.
So we've already noticed anuptick in homes not appraising
(07:20):
in areas around the country andgenerally this is because of
homes closing at a lower pricepoint and of course as well with
what's going on in the economy,sometimes banks being more
cautious because of the numbersthat they're seeing.
And before you jump into, oh, itwill all be okay next year,
again for my regulars, you'veheard me talk about Clément
(07:41):
Juglar.
He set the economic cycle backin 1860, seven to 11 years.
So I'd expect for the next twoor three years here to be
trending downwards, whateverthat means where you're at.
So the big takeaway is we maybe heading into a real pricing
reset, especially in the SunbeltStates.
(08:01):
They're really overheated aswell during the pandemic.
That's a big part of it.
It's all COVID related, becausethey went crazy as people moved
out of those other states.
So for agents, sellers,investors, this is the moment to
pay attention.
So that wraps up today's HomeBuilder Market Update on the
(08:26):
Real Estate News Radio Show.
And if you're wondering how thisshift affects your market, or
if you're thinking about buyingor selling, don't go it alone.
Visit realestatenewsradiocom,realestatenewsradiocom, or call
me directly at 828-333-4483.
Whether you're here inAsheville or listening from
(08:48):
around the country, I'd love tohelp you navigate what's next.
So stay tuned.
We're going to have some morenational trends, some more local
trends, some smart strategiesand a lot of local love coming
from the mountains.
So let's dive into our nextsegment, a trend that's picking
up steam fast.
Inventory is climbing in keymarkets, and I can do national
(09:13):
and local here, because NorthCarolina is on this map halfway
down.
So if you've been watching thereal estate headlines, any news
that you watch, or podcasts thatyou listen to or anywhere else
where you get your news Althoughthat's not really true, because
a lot of agents are out theregoing, oh, it's the best time to
buy, including a lot ofcelebrity agents, actually,
(09:36):
because I think they're scaredof telling people really what's
happening in case the marketgoes really nutty.
Nobody wants that to happen.
But the fact is, the figuresare the figures and I feel
you're intelligent enough tomake your own decisions by
having your own numbers.
So you may have noticed in someof these headlines that start
(09:57):
giving you the figures, thatthere's a lot more homes for
sale right now.
So when you look at and a lotof these are sourced from
realtorcom and Zillow and theresearch has been done on a
number of different sites Someof the country's hottest housing
markets are seeing an inventorysurge, and you know we like to
(10:20):
speak in plain English.
What do we mean by that there'sa lot more inventory.
It's just houses, number ofrooftops that are going out
there, and we're seeing reallyare seeing a surge in some areas
.
We're seeing double digits, insome cases, 50% increases over
last year.
So here's the top 10 right nowby number of homes for sale.
(10:44):
And even though we're airing onthe radio you may be listening
to, we're also on the podcast,so share this podcast with your
friends Realestatenewsradiocom.
Just tell them to ask for theone on figures changing Gosh.
I haven't come up with aheadline yet for what it's going
to be called, but you'll beable to find it as the date for
(11:07):
21, 22, the 24th of May 2025.
And you should have that anyway, because these figures are
generally from in the lastcouple of weeks.
So here are the top 10 states,and that changes all the time,
so we've got to keep watchingright, which, of course, I'll do
for you.
Here are the top 10 states weneed a drum roll here by the
(11:27):
number of homes for sale andtheir year over year inventory
growth.
In other words, how much is itup from last year?
Number one are you ready forthis?
Florida 182,589 homes are forsale.
That is up 34.9%.
So they're in order of homesfor sale right now, not the
(11:51):
percentage increase, becausewe've got some larger ones than
that.
Texas is the number two withnumber of homes for sale 123,237
homes for sale.
That's up nearly 30%.
California, are you ready forit?
64,963 homes for sale up 51.1%over 50%, guys.
(12:17):
That's the largest one on here.
I guess a lot of people areselling their homes in
California and moving out.
That is a trend that we've seen.
And then in Georgia 42,000.
Georgia comes in at number four42,846 homes for sale.
That is up 41%.
(12:38):
And here we go.
Number five North Carolina35,438 homes for sale, up 43%.
Pretty similar numbers inWestern North Carolina, where
our headquarters are.
New York 31,562 homes for sale.
(13:02):
Then we've and that's only upthree percent from last year
Arizona 30, and Arizona'sanother one to really watch.
Um, I'm so Texas is up there atnumber two.
Arizona and Texas, the ones towatch right now 30,084 homes,
that is up 34.30%.
(13:23):
These are big rises.
This is a surge, guys.
And number nine we've gotColorado 24,093 homes, up 50.3%.
That is just behind California,which is at 51.1%.
And then, of course, just southof us, in South Carolina, is up
(13:45):
29.4% and that's 23,898 homesfor sale.
So let's put that intoperspective.
We're not just seeing morelistings, we're seeing an
inventory growth at levels andI'm not saying this to scare you
, I'm just giving you figureswe're seeing inventory growth at
(14:07):
levels not seen since thepost-2008 housing crash.
And behind the scenes, talkingabout builders, the builders are
responding.
Over 60% of builder listingsnow include some form of
incentive.
It could be closing costassistance.
It could be price reductions ofincentive.
It could be closing costassistance.
It could be price reductions,appliance upgrades and more.
(14:31):
So what does that mean?
It means that actually it'sgoing to be a little harder in
areas where you've got a lot ofbuilders doing this to sell your
used home.
I like to call them used homesjust because it's funny, because
it's not a brand new home.
And, by the way, guys, this iswhere CPO comes in.
If you've got an older home andwe've got so many agents now
knowing how to do this that arefully certified around the
(14:54):
country certified pre-ownedthat's where you get the
inspection first.
You need this.
It's even better if you get theappraisal.
Why?
Because you're more able tocompete with new homes.
Even better, if you do theappraisal, the trifecta of
(15:15):
certified pre-owned is doing theinspection before you list it.
You don't have to fix anythingcan disclose it.
That's where everybody goes ineyes wide open and it is a
massive change when you do thatbecause, especially if you offer
a home warranty, that's thetrifecta, as I mentioned,
because now you're offering whatthe builders are offering.
(15:36):
You're offering a home thatdoesn't have any issues or you
know the issues, going in eyeswide open.
The price we always say theprice has taken that into
perspective and I have agentstrained for you everywhere in
the country.
Guys, you're hearing the figuresyou need to certify pre-owned
your home.
I was just on the broker incharge In North Carolina.
(15:59):
A broker in charge is a brokerwho is supervising other agents,
so I've been a broker in chargefor a long time.
We have to do continuingeducation, like many other types
of things that you know orindustries where they have
license.
I did that today for many hoursand I cannot tell you how much
(16:20):
time we probably spent 50% ofthe time talking about what we
should do in situations wherethere's complaints from buyers,
from sellers towards agentsagainst agents, against buyers
against sellers, people suingeach other because of things
that went wrong with the housethat weren't disclosed,
(16:41):
certified, pre-own it and mostof that goes away.
We're spending all of our timein real estate doing repair
requests and pricing homes, notknowing what's wrong with them,
and we're competing with newhome builders here.
You've got to listen to thesefigures.
Over 60% of builder listingsnow include some form of
(17:03):
incentive.
So if you're a home buyer andagain I'm not going to hide
these facts from you because youneed to know them, especially
if you're selling an older homeor one where you know it needs
something doing to it, lets youhave you competing at the same
level.
We've got plenty of help forbuilders as well.
Don't worry, builders out there.
We've got builder CPO we'regoing to be talking about in a
(17:25):
second.
But honestly, I spent I was on aZoom call for four hours today
doing my update and much of thattalked about problems with
inspections.
The vast majority of that goesaway to the point that, when
you're not certified, pre-ownedhomes drop out on average over
(17:47):
30% of the time.
Now what does that mean?
It means you've got your houselisted, you're going to get a
contract.
Everybody's excited.
Over 30% of the time they'regoing to drop out.
It's not because we're not greatlisting agents, it's because we
don't have control over thebuyers.
They may do something like Idon't know, lease a car or
something right before and nothave the credit where they need
(18:07):
it to buy the home, or not haveenough income.
Even more importantly, it'salso because we haven't done I
just think we haven't done ourdiligence as listing agents and
the sellers, getting thatinspection done first and again.
You don't have to fix anything.
I'm more than happy to gothrough all this in detail.
828-333-4483.
(18:30):
I've got agents trained in thisall around the country.
I have a bestselling book on it.
If you've got builders that areoffering incentives and you were
a buyer, wouldn't you startlooking at new homes anywhere in
the country where this ishappening and that's much of the
country right now?
Why wouldn't you look at a newhome if they're offering all
these incentives?
So if you're selling your home,you need to be able to compete
(18:54):
against new homes, and certifiedpre-owned is how you do that.
What you know we've got closingcost assistance, price
reductions, appliance upgradesand more from builders.
So what does this mean for theaverage homeowner?
And what about investors oragents?
Let's look at an opportunityfor people wanting to build a
new home and agents that like towork with new homes is where it
(19:18):
gets really interesting in mybook, literally because moments
like these create real windowsof opportunity.
One of the biggest missedopportunities for agents right
now is partnering with builders.
Let's be honest builders needhelp and most of us as agents
certainly everybody in mynetwork have a big database of
(19:39):
people that are always asking usto recommend a builder.
So we're building lists ofbuilders all around the country.
We're going to see them asagents.
If you want to get on that list, just give me a call builders
828-333-4483.
And we have a program for you.
So builders around the countryhave spec homes now piling up.
In fact, they're slowing downon building them.
(20:00):
They've also got buyers thatwant to move in but haven't sold
their existing home, and that'sabout 60% of people are selling
their existing home to moveinto their new home.
And how on earth do you knowwhen to list your home when
you're building a new one?
Because builders most of thetime and it's not their fault
can't give you an exact datewhen they're going to get the
(20:22):
certificate of occupancy.
Ie, you can move in Two weeksbefore they get their CO.
They do know and that's whereBuild a CPO comes in.
So if you're an agent, build aCPO gives you the tools and the
training and the coaching ofcourse to solve one of the
biggest pain points for buildersand people building a new home.
(20:43):
It's such a pain the contingentbuyer, the one that can't move
forward until they sell and howdo they know when to list it.
What a pain with Build a CPO andI've done a whole show on this
that you can find on the podcastcalled Build a CPO will be in
the title.
So if you want to learn moreabout it, go to
realestatenewsradiocom.
Realestatenewsradiocom.
(21:07):
Realestatenewsradiocom.
Remember the live show isyou're probably listening way
after this, because peoplelisten to the podcast six months
later on a particular topic.
So if you're listening sixmonths later, the show won't be
airing live on the networkanymore because they've cut most
of the local talent.
There are very few live showsleft and they've offered me to
record it every week, which youknow.
(21:29):
I can give you that on thepodcast, quite frankly, and you
can choose when to listen, andit's just better for you.
So realestatenewsradiocom, justdon't forget, hop over there.
So you know it makes it mucheasier to unlock with Build a
CPO when you're building a home.
The best part as an agent youget the listing because now
(21:49):
you're the best agent to getthat home sold because it's
going to be certified pre-owned.
It's all LinkedIn, guys, andthat's anywhere in the country
and you can get up to 70% ofyour funds, your equity, in your
home within 14 days.
That's how we're able to do itwith a co.
But it's not one of those cashoffers.
(22:10):
It's a full market value offer.
We go in, we spruce it up.
You don't have to do anything.
Our funding partner pays forthe upgrades up front and then
we sell it and you get a secondcheck.
Two-thirds of our sellers makemore.
It's fueled by Cash CPO thatyou've already heard me talk
about many times.
If you're a regular listener,this is buildacpocom.
(22:32):
You can go for more informationif you'd like it.
I've got all kinds of tools foryou if you're an agent.
We have an app now calledListing Royalty that.
I've just been on a six-monthhiatus almost to build this app
and get lots of training andlots of coaching on there to
elevate agents and help themwith training.
(22:54):
I've got all the top CEOs fromall the real estate brokerages
on there.
It's called Listing Royalty.
So if you're an agent, downloadit List royalty.
I can unlock all kinds ofprograms for you on this.
So you get to stay in thetransaction as an agent.
The builder gets to close and,most of all, the buyer gets
peace of mind.
If you've ever built a newhouse, what you're doing is
(23:16):
calling the builder over andover again Is it ready yet?
Are you still going to hit thatdate?
Now all of that goes away.
Ready yet?
Are you still going to hit thatdate?
Now all of that goes away.
So all you do two weeks beforethe transaction, before the CO,
the certificate of occupancy,that's when the builder says
it's going to be ready.
Two weeks before that, 98% ofthe time you will be able to hit
(23:38):
that date.
I actually did a whole show onthis with Joe Shively a couple
of months ago.
You can look that up on thepodcast at
realestatenewsradiocom.
Big button on their podcast.
You can choose whateverdifferent topic that we've
spoken about.
So the builder CPO is reallyit's a win, win, win.
It's a win for the agent, it'sa win for the person who's
(24:00):
buying the new home A lot lessstress, they're not so nervous
and so stressed all the waythrough, and obviously it's a
win for the builders, and youknow we've got builders out
there who are reducing theirprices and offering lots of
incentives to stay afloat andit's just, it's a really, really
great program.
So if you're listening to thisas a homeowner, this is what you
(24:24):
want to keep an eye on.
So the inventory is rising.
Prizes haven't fallen asquickly yet, so that's the good
thing.
If you're thinking about selling, now is the time to position
yourself smartly.
Stage it right, price it right,market it aggressively and
it'll still sell well.
But don't wait, please don'twait.
(24:44):
It will mean more competition.
We're seeing every month nowunless you're listening in the
northeast and we'll go throughwhat they are.
And if you are up thereespecially Massachusetts or
Connecticut, new York, newJersey give me a call,
828-333-3333, and I will gothrough all those numbers with
(25:07):
you.
828-333-4483.
That number is open 24 7.
We can help you anywhere in thecountry with the best trained
agents.
We now have an app that's gotso much training on it and we
unlock it all for our networkagents, because we don't want to
be putting agents onto you thatare not trained in that.
(25:31):
It's just a higher level oftraining and I don't want to
tell you.
We do a call every day intraining.
We do a deep dive on a thursday.
We've got a facebook group andwe've got this app with all this
great training on it and it'sfive minute bite-sized pieces on
all of this.
And those of you who havelistened to me before know that
we've got senior living programs.
(25:51):
We've got all kinds of programson there to help you, whether
you're a home seller or an agent, or you know somebody that's
just trying to get into the nextsituation.
Now, of course you know we'vetalked about home sellers.
It's all about marketing itright.
Of course you can get your fullmarket value offer at
cashcpocom.
(26:12):
Cashcpocom, you can put it inyourself or have your agent do
it for you.
You want some help with that?
You can give me a call or go torealestatenewsradiocom for all
of the details.
If you're buying, this isfinally good news More choices,
more leverage and builders whoare finally willing to negotiate
(26:33):
again, especially in theSunbelt states like Florida,
texas and the Carolinas, expectinventory to climb even higher
through the summer and earlyfall.
Why?
Because it's our season.
South Florida not so much so,obviously, but we've already
seen big drops, especially inSouth Florida, especially in
condos.
So if you're thinking aboutpicking up a condo down there,
(26:56):
there's all kinds of incentivesright now.
You want it as a winter homeand you live in the mountains or
live somewhere cooler could bea good time to start looking Not
a bad time at all.
That's why it's always anopportunity.
However you're looking atthings, whatever is happening in
(27:16):
the market, it's an opportunityfor someone.
Speaker 2 (27:19):
Hey, sean Hannity, here talking with the only real
estate agent in your market.
I recommend Rowena Patton withAll Star Powerhouse.
Now more than ever, buyers andsellers need an expert to
navigate this ever-changingmarket.
And what do you do to stand out?
Speaker 1 (27:35):
You know I got into real estate in 2007.
I have a lot of experience allof the way down and I sold more
homes than anybody else.
And I did that throughexperience, marketing,
negotiation, and in today'smarket you need that experience
more than ever.
Agents for the last two orthree years really haven't
(27:57):
learned a whole lot aboutanything that's difficult about
to market, because you couldjust stick a sign outside the
door and put a lock box on thedoor and boom, it's gone
tomorrow with three multipleoffers.
That is not the market we're inanymore.
Speaker 2 (28:10):
Call Rowena Patton right now at 828-333-4483 or
online at mountainhomehuntcom.
Speaker 1 (28:20):
For those of you here in Asheville or Western North
Carolina.
All around here you're seeing asimilar trend, but not quite as
dramatic.
Our inventory is up, especiallyin the 600 and up range, very
similar to what happens in eachprice modification arena, shall
(28:41):
we say, when prices are goingdown for three to five years and
then they go up for three tofive years, but they go up more
in the three to five year nextperiod, as the line you see in
real estate is always up overtime.
So in other words, if you keepyour home for 10 years, then
chances are it's going to beworth dramatically more.
(29:03):
We're starting to see somesoftening price expectations is
probably a nice way of puttingit.
So the good news in WesternNorth Carolina we've still got
strong demand from relocators,retirees and second home buyers,
although the second home buyermarket is also the first one
that gets hurt in a nervouseconomy, which is what's going
(29:25):
on right now.
I know personally people whoare looking to buy those
$600,000 to $900,000 homes or600 and up homes that live
locally, that want to come andstay here for the weekend Places
like Charlotte, which is onlytwo hours away plus people that
(29:45):
just want a second home here.
So this means sellers need towork with an agent who
understands today's buyers.
We need to use really smartpricing strategy and there's all
kinds of things that go intothat.
It's not just oh, the house is$599, and therefore we need to
put it at $600 to capture bothof it.
(30:07):
There's way more than that goesinto it and also leveraging
modern programs.
So we've got builder CPO, we'vegot cash CPO, we've got senior
living CPO.
We've got all kinds of programs.
There are estate CPO, tunnel totower CPO to get deals across
the finish line.
In case you just tuned in, I'mRowena Patton.
(30:28):
This is the Real Estate NewsRadio Show.
You all know we're going tostop going live.
You're probably listening tothis on the podcast.
Anyway, we've got 10 times asmany listeners on the podcast on
June 14th.
So we won't be on at that 10 amspot on a Saturday anymore
because the local station whereeverything used to be recorded
(30:48):
is making big cuts and they'renot having live producers in on
a Saturday and I decided Ididn't want to do a recorded
show, which is what they offeredme.
So we won't be on at 10 o'clockafter the middle of June.
So make sure you check us outon the Real Estate News Radio
show.
I'm still doing the showrealestatenewsradiocom
(31:09):
realestatenewsradiocom.
Or, of course, you can call medirectly at 828-333-4483.
This is Rowena Patton with EXPRealty.
So you're tuned in to the RealEstate News Radio show where we
bring you our real estate trendsfrom across the country.
We have a special focus on ourhome base, asheville and the
(31:30):
mountain counties of WesternNorth Carolina.
I'm your host, rowena Patz, andif you've got real estate
questions, want to chat aboutstrategy?
I do strategy calls every day.
So I've done over 3,500transactions in my real estate
career.
(31:51):
A lot of people know me as theperson who can get those more
unusual homes sold.
So if you're out in the boonies, you'll know what I mean by
that.
If your house needs a littlebit of work, if you've got a
perfect house and it's out inthe boonies and of course I live
all the perfect houses in townas well.
So don't think I'm only for thedifficult to sell homes or more
(32:14):
difficult to sell homes, notdifficult to sell.
Everything sells.
It's just about the marketingstrategy and the strategy to get
it sold, everything that goesinto that.
So in this segment we're goinghyper local.
We're diving into real housingdata for Buncombe, henderson,
hayward, mcdowell, mitchell,rutherford and Yancey counties,
(32:38):
looking at median home prices,price growth and inventory
trends.
Let's dig in Now.
If you're listening around thecountry, as I know many of you
are, I've got you calling measking to sell homes in
California, in Denver, inFlorida.
(33:00):
Help with those.
We can help you all over thecountry network, many of whom,
or all of whom, are highlytrained and know how to do the
cash CPO offer, the builder CPO,all of the other things that we
offer, as well as, of course,conventional listings.
I hope that goes without saying, but some of the you've never
heard me before, so it doesn'tgo without saying.
(33:23):
We do all of the givens.
So we do professionalphotography, we do great
photography, we do great droneshots.
We price it really well.
I have a lot of experience atthis point to do all the things
you expect.
We put it on 300 websites.
All the things that you expect.
I call those givens, but we do.
(33:44):
We go over and above.
We do the memories video.
The memories video is, if youwant to.
You know, usually we'reattached to the house and we
think we're attached to thehouse and really we're attached
to the memories.
What do I mean by that?
I actually came up with thiswhen I went to see a couple
(34:05):
whose daughter got marriedcoming down the stairs and she
was described.
I actually said to her Susan,susan, it really seems like you
don't want to sell this house,and that is just right.
And she said no, my daughtergot married coming down the
stairs and shared lots of otherpersonal stories.
And I said, well, that's okay,because we do a memories video
for you.
And she said I don't want to beon video.
I said that's fine, we'll justwalk around and capture the
(34:26):
memories for you.
We put it up on YouTube or youcan just keep it on your
computer and share it with yourkids, your kids' kids, your
great grandkids, whomever youwant to share it with.
So let's have a look at somemedian home values in the seven
Western North Carolina countiesas of mid 2025,.
(34:47):
Just in case you're listeningto this one, in six months time
or three years time, we've gotmany years on the podcast at
realestatenewsradiocom.
Share it with your friends,please.
So Transylvania leads at 478.
You might be surprised by that.
One Buncombe is right behind.
That's the heart of Asheville,of course.
(35:07):
473, 987, so 474 and of coursea lot of these median prices are
pulled down by condos and byhouses that are a little bit
further out in Buncombe County,because if you look at Asheville
it's proper, it's more like600,000.
Henderson County, that's whereHendersonville is 433, so about
(35:28):
$40,000 lower Henderson County,that's where Hendersonville is
433.
So about $40,000 lower.
Jackson is 442.
Hayward that's an interestingone sits at 355,777.
So 356.
So, as you can see,considerably lower.
And for many years people havebeen moving west to Waynesville
(35:48):
and Maggie Valley, which isHaywood County.
So we've got the difference inHaywood County, which is only
gosh.
You've been at Haywood Countyin 20 minutes going west.
If you're talking aboutWaynesville, you're more like
half an hour.
You can still get back intoAsheville very easily if that's
what you're looking for.
So we've got the difference andI'm just going to round up here
(36:10):
to make the numbers easierBetween the median price at
$356,000 for the Waynesvillearea, that is up over $100,000
in Buncombe County, theAsheville area, so $474,000.
So obviously that's a big jump.
It's $120,000 more on average,I guess you could say, even
(36:31):
though these are the medianprices.
And then we've got YanceyCounty at $313,000.
Obviously it's a drop even more.
Mcdowell County $256,000 or$257,000.
So remember too, when you'rebuying in these less expensive
areas, these less expensiveareas, this is how it all
happens, guys, and you'll knowthis.
People, you know the householdincome hasn't gone up anywhere
(36:56):
near the same price at theprices of the homes.
So people slowly but surelymove out.
You know servers, for example.
A server is going to be able toafford the $474 median house
point that is in the Ashevillearea and honestly it's more like
$500,000, $600,000 when youlook at Asheville proper.
(37:16):
This is being pulled down.
But many people blue collarworkers, people who work for a
living can't afford a house over$400,000.
And McDowell is coming in at$257,000.
You can actually afford a house.
So that's why people startmoving out.
As more people start moving out, that creates more of a demand
(37:37):
which puts prices up.
Big shocker.
I know Rutherford is the lowestin that group at $209,000.
You can buy a median home valuein Rutherford County is 209.
So you know the numbers confirmwhat we've all been feeling.
Buncombe and Henderson remainsthe price anchors for the region
.
Nothing has changed there,while outer counties like
(38:01):
McDowell and Rutherford stilloffer affordability, at least
for now and by at least for nowI mean as more and more people
realize they can get a homethere.
And here's the deal when youwork with them.
So let's say, you know there'sa lot of restaurants here and a
lot of servers after all, we area tourist region.
So if you're a server andyou're in asheville and you say
(38:23):
to your agent, hey, I need ahouse, most of those agents are
going to set you up in buncombeCounty.
Why?
Because they don't necessarilywant to drive an hour to
Rutherford or drive an hour toMcDowell to show you a home.
That makes sense, right?
So what you want to do is workwith an agent in those areas, or
(38:44):
work with an agent that has ateam and has agents that live in
those areas.
Just being honest about thatYou're going to have.
And also, if you live inAsheville or you live in
Hensonville, how well do youknow Waynesville?
You might have an agent thatsays, oh, I grew up here, but
you can't know the ins and outsof Waynesville if you don't live
there or live in the area.
(39:05):
So really, really, reallyworthwhile, you know, just work
with an agent in that area.
They're going to know moreabout it.
So let's talk about appreciation, because even though all this
mess is going on and this getsso hard to understand, and I
understand that.
So let's talk aboutappreciation.
How has there been appreciationwhen we're seeing price cuts go
(39:27):
up so dramatically?
Because the average consumerdoesn't see that the price cuts
are going through the roof.
The average consumer just says,oh, I see there's a few more
homes on the market.
They don't see that there'shalf as 50% more than last year
in most of our counties aroundthe country, around the country.
(39:50):
So they're not seeing that insix months time that's going to
have a big jump in terms of, ora big drop, should I say, in
terms of prices.
So Yancey is up about 3%.
That's leading the pack.
But you'll also see in a lot ofthese areas I'm talking about,
the average price in Yancey is3.13.
So if you've got a lower price,an increase of a few thousand
(40:10):
dollars can push it up in thosepercentage points.
Mitchell County 2.2%.
Mcdowell 1.9%.
Henderson 1.4%.
Buncombe is 1%.
Haywood is 2.8%.
Rutherford's the only oneshowing decline.
It's probably because of theLake Law area at minus 2.7,
because of what happened inHelene.
(40:32):
A lot of people are saying, oh,it's because of Helene, some of
it is Rutherford.
Probably is, because it was sodevastating in all of Western
North Carolina and in some waysbecause of the late law area and
because that is primarily justa seasonal market, you know,
probably double, triple,quadruples in terms of number of
(40:54):
people in the summer that onegot really hit hard.
A love goes out to you LakeLure and Rutherford County.
So even though bonecrumbs arethe most expensive, price growth
has slowed and in the mostexpensive counties you're going
to see more of a slowing thanthe other ones, which is the
other interesting piece of that.
(41:15):
Now here's where it getsinteresting.
Active listings tell us whereit's about to happen or tell us
what's about to happen.
Buncombe has around 1,100 forsale.
Of course you know, by the timeyou listen to this the numbers
will have changed slightly.
Henderson has about 560, soabout half.
(41:37):
Hayward has 321.
Rutherford 285.
That's a lot for Rutherford.
Mcdowell 145.
Mitchell's 62.
And Yancey 99.
Buncombe's inventory isapproaching pre-pandemic highs.
I can show you all the map.
If you live locally and want tosee the map or the graph of
(41:59):
what is happening, it's goingthrough the roof More than happy
to send it to you, 828-333-4483.
Seven-year trend that's what weneed to look at.
So let's zoom in on Buncombewith let's put our hysterical
glasses on otherwise known ashistorical lens.
Back in 2019, buncombe Countyhad 1,300 homes on the market
(42:22):
the peak.
Then came the sharp decline.
So, 2021, 460.
Obviously, that's a massivedifference.
It's under a third.
2022, just 311.
No wonder people were sayingthere's nothing to buy.
Of course there was 311.
So I always said there'ssomething out there, you just
have to find the right one.
2023, inventory startedclimbing again 481.
(42:46):
2024, 649, right.
So wow, we went from 311 in2022 to 649 last year.
And wait for it.
2025, we're back at 1125 homesfor sale.
That's a 262% increase in justthree years and that tells us
(43:09):
something loud and clear Buyersare gaining leverage.
So, guys, you have to get itright.
If you're thinking aboutselling your home right now,
give me a call, I'll go throughit with you 828-333-4483.
So for buyers, this is greatnews, of course More choices,
more negotiation power and alittle more breathing room.
(43:33):
For sellers, it really is timeto get strategic.
So gone are the days, for nowat least, of multiple offers at
24 hours.
It hasn't been that way inWestern North Carolina and much
of the country for over twoyears.
I've been saying that for twoyears now that we were flat and
waiting for this decrease tohappen, and many of you, even in
(43:54):
that time, have said well,we'll give it another year,
we'll give it another year.
Things are still going up.
Well, in Asheville we've hadabout 1% of increase.
Now, of course, 1% is something, but in my book that's a big
gamble.
To wait it out for 8%, you know, I personally that all depends
(44:15):
on where your risk tolerance isright.
So, 1%, I probably.
Of course you don't know at thetime, you don't know it's only
going to be 1%, but I would havesaid get out a year ago.
And of course, the best thing todo in most cases is sell and
rent for three years untilthings are at the bottom.
Two or three years at thebottom.
(44:36):
But who can do that right?
So you find a great deal on theother side and hey, just find a
great agent for that.
You can always call us828-333-4483 and I'll go through
your absolute figures with you,zip codes with 30 data points
anywhere in the USA.
So you need staging.
Maybe you need correct pricingand possibly some programs like
(45:01):
Cash CPO, build a CPO, seniorLiving CPO, estate CPO to unlock
equity faster and stand out.
These are not cheesy cash offerprograms where you get 70 cents
on the dollar.
Ours is producing 90 cents to$1.20 on the dollar because we
go in and you don't have to doanything.
(45:22):
You get up to 70% on the firstround and then you know you're
able to move and make anon-contingent offer on your
next home and just take downthat domino basically.
And then we go in and do ourHGTV like magic and sell your
home and generally, when thosethings have been done and you
(45:45):
don't have to put any money outor anything to do it, that all
comes out of the profit at theend.
Of course, none of this hardwork comes for free, but two
thirds of the time we're gettingmore money than with a
conventional listing.
But you haven't had showings,you haven't had a sign outside,
you haven't had a lockbox on thedoor.
I've done lots of shows aboutthis.
You can go back in the podcastsat realestatenewsradiocom to
(46:10):
find those quite easily Ifyou've just tuned in.
We will not be on air becauseit will be a recorded show from
June 14th.
So you won't hear us on air atWNC 570 or syndicated on Fox.
You will hear us syndicated onthe World Wide Web, of course,
realestatenewsradiocom, and youcan listen in your time zone
(46:34):
when you want to Like.
I have listeners who listen tome on their night shift,
realestatenewsradiocom.
Make sure you've gone there anddownloaded the link to the
podcast so I don't lose you as afriend in a few weeks here.
So let's go back and have a lookat some more historical context
for a minute, because it reallydoes put it into perspective.
(46:58):
And, of course, if you'relistening from around the
country, I've got an amazingnetwork of agents that can help
you.
Give us a call 828-333-4483.
This is therealestatenewsradiocom podcast
with Rowena Patton, exp Realty.
So if you're listening in fromaround the country, incredible,
(47:20):
amazing network of agents thatare more highly trained.
I get them certified in allkinds of programs and I do day,
literally daily training and adeep dive on a Thursday and I
can get you started and give youmaps of what's happening in
your zip code 30 different datapoints.
I can send you the reportanywhere in the USA.
(47:42):
And if you're wondering abouthow unusual the current market
slowdown is locally and remember, if you're listening, around
the country this is happening,many, many counties some of them
.
You have way worse drops or uhdifferentials than we do.
So we're a good bellwether formost of the usa right now, so
right here in buncombe county.
(48:03):
So so this is Zillow andRealtorcom data from April 2024
to April 2025.
So 2024 to April 2025, we'relooking at home value growth.
So the last comparing the twoAprils, home value growth was
(48:24):
1.2%.
So that sounds pretty decent,right?
So that's what a lot of theagents, including some of the
celebrity agents, are spinning.
Oh well, you've had growth of1.2%, and you know you think
about a $500,000 house.
What are you talking about?
$5,000?
That's a decent amount, right.
So that's not terrible.
(48:44):
$2,500 or $250.
At least it's an increase,right?
However, that's a huge dropfrom where we've been Again,
it's a canary guys.
You've got to listen to thefigures.
Let's go back a few years April2021, that's not that far away,
right.
We saw a nearly 14% growth 2022, so the next year, it spiked
(49:07):
again to nearly 18%, and then2023, it dropped to 4.4.
And now we're sitting at 1.2%.
Obviously, that shows adeceleration, right.
So prices aren't crashing,that's not what I'm saying, but
they're cooling quickly andwe're returning to what looks
more normal or even softeningmarket.
(49:29):
In fact, I've been predictingfor a while here now that it's
going to soften.
It's always going to soften atsome point, unless we say that
history doesn't hold true.
And it's been holding truesince 1860 with good old Clément
Jugla who set the economiccycle.
It goes down for a while andthen it comes back up again, and
with real estate it tends to beworth more.
(49:50):
However, depending on what yourplans are and that's why the
strategy is so important it'slikely to take it's seven to 11
years before we peak again.
I think we're two years into it, so that would be five to nine
years before we peak again.
If you can hold on for thelowest five years I always use
10 years because that makes itmore realistic Then hold on,
(50:14):
because your house is going tobe worth more.
Absolutely, have at it.
I think it's a great idea.
So you know, the thing is, guys, this is the kind of data that
informs smarter decisions, moreintelligent decisions.
So, whether you're thinkingabout listing it or buying in
this market, or maybe you'reinvesting, or maybe you're an
(50:35):
agent, do you know we lost 84%of agents last year?
84%, that's insanity.
Tell me some other businesswhere you know that's happened.
You can't because it hasn'tright.
(51:07):
It hasn years where you couldstick a sign outside and a
lockbox on the door and the homesells.
That's why there were so manyfor sale by owners, because it
was an easy sale.
Many agents just aren't schooledin what to do, because you have
to do a lot more work whenyou're listing a home.
There's a lot more work whenyou're in a market like we're in
(51:28):
now.
You need a lot more experienceto get that house out there.
You can't just stick a signoutside and hope that it sells.
I think that's why we lost somany agents and because of the
way the world's changing.
You know a lot of theseagencies now are virtual.
I'm in a virtual agency, exp.
However, I also have an office.
I do Zoom calls every day.
(51:50):
I also have a physical officeso that agents can come in, and
for my agents around the countryI have a Zoom call every single
day.
It takes work.
It's just work in a differentway.
So you know things are happeningin real estate.
It's definitely not all bad.
It's just more normalizing.
Guys, I hate to tell you.
So you know, just just thinkabout it if you're selling and
(52:14):
if you are selling and youreally want to get your home
sold, ie you're not just dippingyour toe in and saying, oh,
we'll try it next year because,guys, next year the prices are
likely to be lower.
Just know that now.
Of course, what your buyersmight like might be lower too,
depends on what you're doing.
Maybe you're moving to anothercountry.
Maybe you're moving into anindependent senior living.
(52:34):
Maybe you're moving intoassisted.
Maybe you don't know yet All isgood.
That wraps up today's fullepisode of the Real Estate News
Radio Show.
We covered national shifts,builder sentiment, soaring,
inventory and the locallandscape right here in the
mountains of western NorthCarolina.
Remember, saturday June 14thwill be our final live radio
(52:57):
broadcast, but this show is farfrom over.
You can keep listening weeklyat realestatenewsradiocom.
It's free, it's flexible andit's where the show continues.
No commercial cuts, nocorporate restraints.
I'm Rowena Patton and you'vebeen listening to the Real
Estate News Radio Show.
Want to know how your zip codecompares anywhere in the country
(53:19):
?
Curious what's happening inyour neighborhood?
Head over torealestatenewsradiocom or give
me a call at 828-333-4483.
I've loved spending mySaturdays with you for the past
13 years.
I've made it in through snow.
I've never not made it to theradio show other than Helene,
when they wouldn't let me in.
(53:39):
Literally Thank you for beingpart of this incredible journey.
The live show may be ending,but the conversation isn't and
the live show is really when youcall me at 828-333-4483,.
Right, and it's allpersonalized.
People are often interestedwhen they actually get me on the
phone because they think Idon't know, I'm some kind of AI
(54:01):
robot or something and I'm notreal.
But I really am here.
I am and I'm waiting to helpyou.
So head over torealestatenewsradiocom, follow
the podcast and let's keep goingtogether.
I'll see you next week on thepodcast.
Your friend in real estate.
This is Ro.
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