Is Hendersonville a fit? (Charlotte, Asheville: real estate, to rent, credit)

[chardent]

I've been reading this board for a while and would like to know more inside scoop on Henderson/Hendersonville area. I'm a doctor and live in Charlotte. My wife and I have a young child (1 year) and though Charlotte is "easy" to live in, we're not thrilled with the traffic, congestion, and general transplant nature of the community. I've found a position in Hendersonville and need to make a quick decision. We've visited a couple of times and Hendersonville appears like Mayberry USA--but that's the perception. How's crime? Schools? How's traffic? How's life for 30-somethings with kids? Housing? It doesn't really boil down to economics in my case, as Charlotte is by far a better economic decision. The numbers on Hendersonville seem to show a much more rural, poor county than I encountered in my visits. What's missing here? I'd like some insight into quality-of-life factors?

Thanks

[eureka1]

I've visited a couple of times and loved it but I also heard that it is one of the fastest growing towns in the country. The civic spirit seemed great and it is on my personal short list of places to investigate for retirement. The proprietress of our B&B was a New york transplant who said it was turning into a retirement town, so that wouldn't typically be good for kids. After you've searched this forum (button in upper right) you can check out their local paper which I think is online. The Asheville Citizen Times is online and Asheville is only ten miles or so up the highway. Sorry I don't have more direct info but believe me I'll be "watching this space" to see the responses you get. Good luck!

[chardent]

Originally Posted by eureka1

I've visited a couple of times and loved it but I also heard that it is one of the fastest growing towns in the country. The civic spirit seemed great and it is on my personal short list of places to investigate for retirement. The proprietress of our B&B was a New york transplant who said it was turning into a retirement town, so that wouldn't typically be good for kids. After you've searched this forum (button in upper right) you can check out their local paper which I think is online. The Asheville Citizen Times is online and Asheville is only ten miles or so up the highway. Sorry I don't have more direct info but believe me I'll be "watching this space" to see the responses you get. Good luck!

Thanks. I hope there's some who live in Hendersonville to give a perspective--boots on the ground so to speak. It seems like a great little town, but then again we thought Charlotte would be our final stop. It too has changed a lot in the 10 years we've been here.

[the Parkies]

chardent, given the ages of you and your family, I think I would suggest you take that job in Hendersonville but live in south Asheville, Fletcher, or Arden, for example, so that you have the benefit of some of the best schools, a much younger demographic, still-employed professional and business people for neighbors, church, and social life, and all the cultural and fun activities for both adults and children that the much larger town of Asheville, just to the north, provides. Hendersonville, which would be just to the south of your home, is a very nice, low-crime, low-traffic community, but it is definitely not a "family" town or a young person's town. It's a retirement mecca. For retirees, it's great!

[meredith71402]

First of all... WELCOME! I am a REALTOR in the Western North Carolina area, and have lived here my whole life. I currently live in Henderson County, although I grew up mostly in Buncombe County. In comparison, Hendersonville is less populated and not as much recreational activities. Although, sometimes those factors are great for living because Hendersonville is so close to many larger cities... Asheville and Greenville, SC. So, you can get the convenience of larger cities with the security and comfort of a small town feel. The South Asheville area (Arden, Fletcher, Skyland...) is growing with leaps and bounds! It is a very popular spot... centrally located between Hendersonville and Asheville. I think one of the biggest changes you'll notice between Charlotte and our area is the price of housing. As of recent, the average home price in the area is around $270K. That would be for your typical 3bedroom/2bathroom home around 1600-1800 square feet. I hope this information helps..Moderator cut: removed

[chardent]

Originally Posted by meredith71402

First of all... WELCOME! I am a REALTOR in the Western North Carolina area, and have lived here my whole life. I currently live in Henderson County, although I grew up mostly in Buncombe County. In comparison, Hendersonville is less populated and not as much recreational activities. Although, sometimes those factors are great for living because Hendersonville is so close to many larger cities... Asheville and Greenville, SC. So, you can get the convenience of larger cities with the security and comfort of a small town feel. The South Asheville area (Arden, Fletcher, Skyland...) is growing with leaps and bounds! It is a very popular spot... centrally located between Hendersonville and Asheville. I think one of the biggest changes you'll notice between Charlotte and our area is the price of housing. As of recent, the average home price in the area is around $270K. That would be for your typical 3bedroom/2bathroom home around 1600-1800 square feet. I hope this information helps... please let me know if I can help in anyother way!

270K for 1600 sq feet seems high. Well, it is higher than Charlotte suburbs, maybe lower than Charlotte center. What's the commute from Fletcher to downtown Hendersonville like?

[jstubbspt]

Originally Posted by chardent

270K for 1600 sq feet seems high. Well, it is higher than Charlotte suburbs, maybe lower than Charlotte center. What's the commute from Fletcher to downtown Hendersonville like?

It is high. Real estate prices will be dropping like a rock in WNC as it is one of the most overheated markets in the nation. It was one of the last bubble markets to inflate, and will be pounded hard on the down side. Asheville doesn't have the economy to support these prices, and contrary to the opinions of the used house salesmen the boomer retirement wave isn't going to save this market.

If you truly want to move to this area for the right reasons (ie you're an outdoors oriented person looking to enjoy the national forests and parks) wait a bit. You'll be able to get much more house and land for you money than what is currently being offered.

[the Parkies]

Originally Posted by jstubbspt

It is high. Real estate prices will be dropping like a rock in WNC as it is one of the most overheated markets in the nation. It was one of the last bubble markets to inflate, and will be pounded hard on the down side. Asheville doesn't have the economy to support these prices, and contrary to the opinions of the used house salesmen the boomer retirement wave isn't going to save this market.

If you truly want to move to this area for the right reasons (ie you're an outdoors oriented person looking to enjoy the national forests and parks) wait a bit. You'll be able to get much more house and land for you money than what is currently being offered.

"Wait a bit." What is "a bit," in your estimation, please? A year? Less? More?

[meredith71402]

You're right... prices spiked in the area. On the flipside... it is a Buyers market right now! We have a lot on the market, which means wonderful things to a buyer, including lower home prices. Things are expected to pick up after Spring with election coming up. Election year is always a slow year in real estate. So... a year or so ago... yes- inflated prices. But, now is the time to buy more than ever... rates in the low 5% and home prices decreasing with the available competition out there.

To answer your question about the commute from Fletcher to Hendersonville... Interstate- maybe 15 minutes. It's not far at all and a direct shot down Hwy. 25.

[jstubbspt]

A bit would be 2 to 3 years before the bottom, however it could be longer than that. Expect prices to remain stagnant for a years after that. It is absolutely not a buyers market right now. Inventories are high and will only be higher once the spring relistings occur. This is only my opinion and I would urge people to do their own research. A good place to start would be Moderator cut: removed The economy is overcooked. We have come off two large bubble markets back to back; first tech in the late '90's and now we're tailing off a major credit bubble due to the Fed keeping interest rates too low for much too long. Subprime was merely the blemish on the apple which has exposed that this economy is rotten to the core.

My personal belief is that we're heading for a '70's style recession. Alot of the loose boomer money that retirement markets are banking on will be lost. Any boomer relying on home equity to fund their retirement dreams is screwed, doubly so if they took out a home equity loan at the top of the market. The markets need a major enema right now, and sadly it's going to hurt alot of people who overextended themselves, and many who did not. Asheville will be hit especially hard because our economy is highly service oriented now. How many jobs in WNC are based on residential construction, real estate and tourism? The housing bust of the early '90s did not affect us much because we had an industrial base at that time and housing was in line price to rent ratios and median incomes for the area. Today it is not.

Don't accept what I say, however. I'm just some anonymous person on the internet. Keep an open mind and dig for the truth, you might just secure your economic future while those around you despair at what they have lost.