Do you start planning for the worst or simply trust that everything will be be "okay In Asheville, NC and the surrounding towns throughout Western North Carolina the real estate market has stayed in tact and continues to be profitable, but as the rest of the country struggles it & # 39; s essential that homebuyers and sellers remain grounded and realistic.
National Indicators: Real Estate Market Trends Outside of Western North Carolina
If you plan to purchase real estate in Western North Carolina or sell mountain homes and land near In 2008 there are some national trends that warrant immediate consideration and will affect real estate in Western North Carolina.
By most experts agree that the real estate market will not drop dramatically overall, some metropolitan areas will will double-digit losses. Based on Les Christie published December 21, 2007 on CNN Money.com substantially 20% of the metro areas covered in the most recent MoodysEconomy.com survey will see these double-digit losses in the beginning of 2008. Christie suggests, "Most of the worst-hit markets are in high "The article & # 39; s predictions include drops of between 29 and 32% in places such as Stockton and Modesto, California and Fort Walton Beach and Naples, Florida. Jersey include 18 and 25% in Ocean City and Atlantic City.
Despite a drop in home sales and prices that appear nationwide, the Zurier reports in his January 8, 2008 article NAR Forecasts Stable Home Sales in 2008 on BuilderOnline.com, "The National Association of Realtors (NAR) forecasts a steady housing market for According to Zurier quotes the NAR & # 39; s chief economist, Lawrence Yun, as saying, "While there are more people "Yun concludes," As a result, the exact timing and the strength of a home - sales recovery is a bit uncertain. A meaningful recovery in existing - home sales could occur as early as this spring, or it may be further delayed towards late 2008.
Ever Cloud Has a Silver Lining, Especially When It Comes to Real Estate in Asheville, NC
At the beginning of 2008 MSN Real Estate, http://realestate.msn.com/, reported online that Business Week listed Asheville, NC as one of the top ten performing real estate markets during the third quarter of 2007 in comparison to the third Quarter of 2006. Coming in at number nine, Asheville was joined by other cities like Billings, Montana and Salt Lake City, Utah. Asheville was the only city on the East Coast it to make the list. January 10, 2008 the Associated Press reported "Fed Is Ready to Cut Interest Rates Again." Writer Jeannine Aversa reported from Washington, "Federal Reserve Chairman Ben Bernanke pledged Thursday to slash interest rates as As home sales and property prices begin to increase the market in Asheville should adjust a nd growth will continue at a faster rate.
Do not Be Afraid to Follow Your Dream of Owning Real Estate in Asheville!
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