All demographic indicators show that WNC is a hot spot nationally and the Asheville, Hendersonville and Brevard markets are going to see population increases in the near future. People are coming to WNC as soon as they can sell their current homes so why wait to compete with these buyers? If you are in a position to buy now then you actively need to be looking at property today. Do not hesitate contact one of our Buyers agents today and begin your search.
Inventory levels are at all time highs and prices have come down however when it comes to land and homes in Brevard and surrounding communities there are very few great properties appropriately priced. We have seen many of the newer construction homes sell over the past 24 months and no builders are starting new model or spec homes, so if you are looking for a newer home you have fewer options the longer you wait.
Portfolio’s featured new construction Home of the Month:
Land is a very different proposition. Firstly land is a commodity in WNC, especially in Transylvania County with over 50% of the land protected in State or National Forest. Price and Value are not necessarily synonyms. One common mistake buyers stumble into when discussing land as an investment or as a place to build their home, is feeling like they should buy land with the lowest per-acre price. I believe it is better to pay a little more money for a quality property than buy a dog just because it is cheap. $5,000 per acre properties are fun to tell your friends about, but spending large additional sums to make it usable may not be the best value in the long run.
It’s also important to remember not every seller is in crisis. As a matter of fact, many sellers in WNC are not in crisis. They would like to sell, but they are not in danger of foreclosure. Rural land in NC is not like the national residential housing market. There are very few foreclosures comparatively, because owners often inherited the land and own it outright, have size able equity positions, have higher incomes and can afford their land, or they have other assets that help keep their rural land afloat. That is vastly different from the residential real estate climate we are seeing today.
The number of days on the market, at least in the Brevard area land market, is not necessarily correlative to a seller’s motivation. Larger acreage properties are taking longer to sell at the present time. Don’t assume that a tract that has been on the market for a year or more can be bought for pennies on the dollar. Please contact Portfolio’s Land Brokers to assist you in your search and save valuable time and effort searching through these properties to find the perfect opportunity for you.
Please check out Billy’s top three land picks: