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I believe house prices will double in the next five years, as long as the economy doesn't completely tank. I've lived in many touristy areas and from experience I think I can tell when an area is about to explode. Just my opinion.
I believe house prices will double in the next five years, as long as the economy doesn't completely tank. I've lived in many touristy areas and from experience I think I can tell when an area is about to explode. Just my opinion.
wow.
then less and less people wil be moving there to buy them. ppl in asheville cant afford housing there now, unless retired. who is going to buy 400k and up houses and willing to pay doubled what it would have sold for 5 yrs ago?
i've got a friend that paid $380k to live in a nice but not really nice community. if that home, which is about 2500 sq ft went up to $750k over a 5 yr period, i think someone would have to be crazy to pay that to live in hendersonville. but thats me. and if people could sell their homes for over twice what they paid for it just 5 yrs ago, people will be selling their homes and moving away.
The area is already a bad value in the relative sense; you don't get a lot (or much, for that matter) for your money in WNC in housing. No matter what lists of retirement paradises Asheville makes, there are alternatives that buyers will turn to if WNC housing prices continue to escalate. This phenomenon is localized, not near-universal as it was in the mid-2000s.
The area is already a bad value in the relative sense; you don't get a lot (or much, for that matter) for your money in WNC in housing. No matter what lists of retirement paradises Asheville makes, there are alternatives that buyers will turn to if WNC housing prices continue to escalate. This phenomenon is localized, not near-universal as it was in the mid-2000s.
Please remember that Asheville is not all of WNC. The real estate market in the immediate Asheville area is completely different from the High Country of Watauga/Avery/Ashe/Alleghany counties. Same with the far western part of western NC. "WNC" cannot be painted with a single brush stroke. Even within regions, there are wide variations.... Banner Elk is different from Blowing Rock is different from Ashe County.
If you are talking about Asheville real estate, then say "Asheville", not WNC.
I cashed in and did a 1031 exchange into 2 properties here and looking for a third. I will be living in one of the properties and renting the other two.
I assume you'll be living in the one that wasn't part of the "like kind" exchange?
I believe house prices will double in the next five years, as long as the economy doesn't completely tank. I've lived in many touristy areas and from experience I think I can tell when an area is about to explode. Just my opinion.
LOL! A house selling for $500K today will be selling for $1MM in 5 years is wishful thinking.
Please remember that Asheville is not all of WNC. The real estate market in the immediate Asheville area is completely different from the High Country of Watauga/Avery/Ashe/Alleghany counties. Same with the far western part of western NC. "WNC" cannot be painted with a single brush stroke. Even within regions, there are wide variations.... Banner Elk is different from Blowing Rock is different from Ashe County.
If you are talking about Asheville real estate, then say "Asheville", not WNC.
If the High Country (or whatever component pieces of it that you happen to know) isn't experiencing the same real estate market foolishness that Black Mountain and Asheville are undergoing, please let me know so that I can shift my search to there.
If the High Country (or whatever component pieces of it that you happen to know) isn't experiencing the same real estate market foolishness that Black Mountain and Asheville are undergoing, please let me know so that I can shift my search to there.
Real estate prices in the High Country haven't come close to returning to the pre-bubble years. From the reports I've been reading, sales activity is up but prices aren't... Real Estate Report April 2015
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