Like good news…who doesn’t? Well, today we got a double shot of great Asheville real estate news. Not only did the number of units sold in Buncombe County rise almost 35%,  the Average Selling Price surged forward over 8% this January over last January. Even the Median Selling Price reflected a 7% increase. The last two figures have been the slowest to show an increase…so this is really great news.  And the cherry on the sundae…total dollar volume sold this January over last January had a whopping 44% increase!

Much of this probably has to do with the spring like weather we’re having but good news is good news. To folks who have been on the home buying fence, wondering if this really is the best time to buy- the numbers would indicate that it is time to buy- if home-buying is in your future. There are still some great deals  in Asheville and the surrounding areas and rates are still unbelievably low, but with prices creeping up- the longer you wait, the more that dream home may cost. At Asheville 4 Seasons, we’re ready to assist you in making the right home-buying decision.

Rent vs Own Chart Not quite sure if homeownership is right for you? This chart provided Cunningham Mortgage Co, illustrates the possible financial advantages to owning your own home. There is a lot that goes into buying a home, so check with your financail advisor before making any decisions…and then call Asheville 4 Seasons Realty, we’re here to help!

Since 2005 Mission Hospital has be awarded at least 20 significant awards and the most recent award is a biggie! Thomson Reuters awards Mission a spot among the ”Top 15 Health Systems” in their fourth annual study of clinical performance.

According to Mission Hospital President & CEO Pon Paulas, “Thomson Reuters is an acknowledged leader in this kind of measurement and analysis, and it’s an objective model. U.S. News & World Report and (some other studies) are opinion-based, but this is objective.”

The study divided the systems into three categories, based on operating expense, with Mission ranking among the top five in the “medium health system” category. That covered systems with $750 million to $1.5 billion in operating expenses.

Researchers from the Thomson Reuters 100 Top Hospitals program looked at several key areas, including mortality, complications, patient safety, average length of stay, 30-day mortality rate and 30-day readmission rate.

Mission Hospital has over 7,000 employees and according to Paulus, “It’s the what caregivers do and the teams that perform the work”, it’s not what a CEO does.

The study found the winning health systems had the following:

• Held post-discharge 30 day mortality rates steady, while peer health systems demonstrated a significant increase in post-discharge mortality.
• Had 17 percent fewer deaths than expected considering patient severity, while nonwinning hospitals had 4 percent more deaths than expected.
• Have a median average length of patient stay of 4.7 days, nearly half a day shorter than their peers’ median of 5.1 days.
• Had 19 percent fewer patient complications.

The study was strictly data-based and did not involve an on-site visit.

Jean Chenoweth, senior vice president for performance improvement and 100 Top Hospitals program at Thomson Reuters, said the study suggests health systems’ “performance is beginning to reflect aspirations to provide more consistent outcomes across communities served.

“Health care reform appears to have stimulated the increased rate of improvement at the system level,” she said.

Complied from article in Asheville Citizen Times, staff writer Julie Ball- 1/19/2012

by The KCM Crew on January 11, 2012

Many believe that very few houses are selling and that almost no one can get a mortgage. We want to let everyone know that neither of these assumptions is true. Recently, the National Association of Realtors (NAR) released their Existing Homes Sales Report. According to the report there are, on average, 12,109 homes selling in the United States EACH and EVERY DAY! That means that approximately 12,000 houses sold yesterday, approximately 12,000 will sell today and approximately 12,000 will sell tomorrow. So the thinking that homes aren’t selling just isn’t true.

Another interesting fact in the report was that 72% of these transactions were accompanied by a mortgage. That means that approximately 8,719 people qualify for a mortgage on a daily basis in this country.

There are over 12,000 homes sold and over 8,000 mortgages granted every day. The real estate market is doing better than many believe.

Thanks KCM for sharing this great news!

2012 Home Sales: Positives on Many Fronts

Most of us make New Year’s Resolutions. It’s a tradition, just like eating black eyed peas on New Years Day and watching all the Bowl Games on TV. We resolve to lose weight, or kick a bad habit, to get organized or to save money. Perhaps this year, resolve to get off the home buying fence.

Mortgage rates still remain low and there has been a trend over the last half of the year that average sales prices are inching up with units sold up considerably over last years. To many of us in the real estate market in Asheville, we take this to be an indication that our market has leveled off, and we will continue to see a rise in units sold over the past two years, with prices continuing in an upward crawl.

This doesn’t mean it is the right time for everyone but, instead of assuming you shouldn’t buy based on media reports and friends advise- go meet with a mortgage lender or banker and have an honest discussion about your financial position and how it fits into your home buying plans. And of course meet with a Realtor and find out how much your money will buy you today…in this market.

Whether this will be your very first home or your first investment property venture, there are lots of good deals out there! And if you’re ready for a larger home or a smaller one but feel you must wait for selling prices to get back to where they were 5+ years ago- consider this. You’ll have to be paying a higher price for that dream home AND the chances that the mortgage rates will be this low are very slim.

Bottom line, get all of the facts before you decide to let these great deals pass you by. Call us at Asheville 4 Seasons Realty- We’re here to help you through the home buying process- from start to finish…and beyond. We want to be your Partner in a Lifetime of Real Estate.

Enjoy the New Year!

On October 28^th we celebrated our 2^nd year of being in business and along with that we are launching our new website. This past year we’ve seen a lot of changes – Suzanne & I further defined our roles as the owners of Asheville 4 Seasons, Suzanne is sales & marketing and I’m handling most of the office responsibilities. It’s been a definite learning curve, but one we both feel will benefit the company. Colleen & Ruthann have been joined by two more agents that have decided to call A4SR home, Susie Leavens and Allison Frank and we couldn’t be more delighted.

Not only have we grown with the addition of new agents, but our presence in the market has also grown. Our name and signs are being recognized more and more. We’re not just hearing from previous clients or referrals, but folks from out of state have seen our marketing efforts and obviously like what they’ve seen.

Suzanne and I are looking forward to see what challenges our 3^rd year is going to bring and we’re confident that with the support from our team of agents, clients, friends and family – the BEST is yet to come.

Thanks everyone for another great year!

Suzanne & Susan

There is more and more research coming out showing that it makes great financial sense to purchase a home today . Whether it be rent vs. buy ratios, income-to-price ratios or income-to-mortgage payment ratios, purchasing a home right now is a bargain compared to historic norms. Now we want to look at the COST of a home today compared to pre-peak prices.

In 2003, 30 year mortgage rates stood at 5.88%. Today, they are 4%. How does that impact the actual COST of a home? On a home purchased for $250,000, here is the difference in monthly cost:

According to the most recent S&P Case Shiller price index, residential real estate values have returned to 2003 1Q PRICEs. That, in itself, says something. However, when you factor in mortgage rates, the case for buying a home today becomes even more compelling.

That means you save $285.30 a month, $3,423.60 a year and $102,708 over the life of a 30 year mortgage! You buy the home for the same PRICE but the COST is over $100,000 less. Add to that the fact that $250,000 buys you WAY more house than it did in 2003 and you not only same money…you get a whole lot more for your hard earned dollars!

Bottom Line

This is why so many financial advisors are saying that this may be one of the greatest times in history to purchase a home.

Contact us today to see how much further your dollars can go!

The above is provided by KCM Blog

Last week, Fannie Mae released their National Housing Survey for the third quarter of 2011. They survey the American public on a multitude of questions concerning today’s housing market. Each quarter, we like to pull out some of the findings we deem most interesting. Here they are for the most recent report:

Most Important Reasons to Buy a Home

The study shows that the four major reasons a person buys a home have nothing to do with money. The top four reasons, in order, are:

• It means having a good place to raise children and provide them with a good education
• You have a physical structure where you and your family feel safe
• It allows you to have more space for your family
• It gives you control of what you do with your living space (renovations and updates)

When we talk about homeownership today, it seems that the financial aspects always jump to the front of the discussion. There is no doubt that families must justify a home purchase from a financial point of view today. However, the reasons they actually buy are the same reasons our parents and grandparents purchased their home – to create a better lifestyle for their families.

The Home as an Investment

Though most people purchase a home for non-financial reasons, everyone realizes there is a money component to homeownership. Here is what they said on this issue:

• 64% of the general population (and 69% of homeowners) believe that homeownership is a ‘safe’ investment.
• • 55% believe that homeownership has more potential as an investment than any other traditional asset class.
  • 68% think that now is a good time to buy a home

  Rent vs. Buy

  We are always interested in the difference people see in renting vs. owning.

  • 63% of renters have aspirations to someday own their own home
  • 70% of renters think that owning is superior to renting
  • 96% of homeowners see homeownership as a positive experience (4% see it as a negative experience) while 83% of renters see renting as a positive experience (15% see it as a negative experience)
  • 97% of homeowners live in a single family residence while 53% of renters live in a multi-unit building

  Bottom Line

Even in these difficult times, Americans still realize the value of homeownership both from a financial and social standpoint.

Reposted from KCM Blog

As hard as it might be to imagine, this lagging economy provides a bountiful silver lining for home buyers. Home prices and interest rates are lower than they’ve been in years and I’m seeing evidence of this right now in every, single price range.

These golden days of autumn are ideal for seeing Asheville in her very best light. So, last week, one of my savvy, out-of-town buyers breezed into town to look at houses. Since the beginning of our relationship about a year ago, the contrast as to what she could have purchased last year for $400,000-$500,000 and what she can buy now is astounding – in her favor.

For those of you familiar with Asheville’s historic upscale neighborhoods – Grove Park, Beaverdam, and Lakeview Park – you know that the desirability of those locations combined with superlative building craftsmanship have always equaled high-end prices over the last decade. However, when I searched the MLS for houses she might like, I have to tell you, I was pleasantly surprised at how much house you can now get for your money. And when we actually got in the car to begin viewing the homes she’d chosen to look at, my analysis proved to be accurate.

The first house on a cul-de-sac near Beaver Lake for $499K sat on a mature, landscaped 1- acre lot that had the feel of being out in the country, it was so quiet. The extended brick ranch had both formal and casual living spaces, a glassed in back porch, a sunny garden spot and view of the lake itself from the backyard.  I
admit, the house needs some updating, however, the reason for my amazement is how much this house would have cost two years ago. Financial comparisons from
the crash of the market until now in these fabulous old neighborhoods allows your money go a long way.

The second rancher was on a charming street in Grove Park, a mere 2 blocks from the actual Inn itself and defines the quintessential real estate mantra – “location, location, location” ! Again, houses in this neighborhood topped out in the $500-700K range just a few years ago so, the $475K price tag, in and of itself, was enticing even BEFORE we went inside.

When I opened the front door, we were greeted by a light-filled, pristinely renovated living room with high ceilings, gleaming pale hardwood floors leading through an arched entryway into the dining room. The remodel on the kitchen looked like it came straight out of the pages of an architectural magazine complete with contemporary blonde wooden cabinets, spectacular grey and beige granite counters, a skylight and preparation island. The piece d’ resistance, at least in my opinion, was the master bedroom. The bedroom  could easily accommodate a king sized bed and an armoire with room for a yoga or meditation area and it flowed into a cozy sitting area with overstuffed chairs and floor-to-ceiling built –in bookcases that overlooked the private, tree-lined backyard.

Again, in this geographical area, for this amount of improvements, the house would have commanded a considerably higher price several years ago. But now, in this price range, you get a big bang for your buck and your choices run from traditional to modern, ranch to Victoria…..you decide.

But these tremendous values do not stop at these mid-range houses – there are actually great $100,000 on the market, also. Can’t believe it? Neither could I until my best friend’s daughter called one day asking if I knew of any houses for sale for under $125,000. My first instinct was to blurt out, “Of course not, “ but I’ve been in this business long enough to know to keep my mouth shut until I’ve done my research.  However, when I searched the listings, I discovered there are many choices available in this price range, too. Not just fixer-uppers, but charming little cottages that are move-in ready in good neighborhoods.

This is the right time to buy. Because I don’t have a crystal ball at my immediate disposal, I can’t predict if housing prices are going to drop any further, but I can tell you that the amount of inventory plus the stabilization of our Western North Carolina housing market makes house-hunting really exciting right now.

If you find this information interesting- contact me, I’d love to help you with your house hunting!

Allifrank@charter.net