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I find it interesting that they say 63.6% of housing is vacant! Is that because that many houses are actually empty or because they are second/vacation homes? Still seems like an unbelievably high percentage. I'm hoping that values will drop a lot in the next year since that's when I plan to relocate. Up here my house has lost almost $200K in value so a realignment in Asheville will let me get more for my money--LJP
I have no idea where they're getting the 60% vacancy stat; seems a bit suspect to me. The graphs are much more telling. Homes have a long way to decline in price to reach historical norms. Going to be awhile before bottom is reached here; too many people still believe things are "different" here.
Not when you have an over supply of houses on the market, at prices that have yet to begin to fall. Hope you have a job lined up or are independently wealthy because Asheville is one of the last hold out of the real estate bubble. Median household income in the area is around 37k, median home price close to 240+k now. You see what has happened in South Florida? Well it's coming here.
Pay specific attention to the Zillow housing statistics. And take a good hard look at the ten year graph. We're going to be partyin' like it's 1999 once things settle.
Hey there, Merry Christmas... thank you for the info.. I will be east of Asheville. The prices haven't gone as crazy. Florida is a different animal! I've been selling in FL , but it is sooo depressing to deal with mostly foreclosures and short sales. I get them closed. It just isn't the market I wish to work in right now. ( very few normal sales) People always have to come and go since life changes, jobs, death, moving down, moving up. I'll just say my prayers and work my a****ss off!
A home. Well, technically it has not closed yet, so we are still a bit wary. But we are under contract to seemingly solid buyers. Our fingers are definitely crossed, though.
A home. Well, technically it has not closed yet, so we are still a bit wary. But we are under contract to seemingly solid buyers. Our fingers are definitely crossed, though.
Good Luck with your home sale. Watch the dates on your contract and always ask for Lender updates. Wendyb
Median household income in the area is around 37k, median home price close to 240+k now.
Isn't this simply explained by the large population of wealthy retirees and "trust fund children" who aren't earning high incomes, but still have a lot of money to spend on housing?
Quote:
You see what has happened in South Florida? Well it's coming here.
Not likely -- it's apples and oranges. Real estate is largely a local/regional phenomenon.
Isn't this simply explained by the large population of wealthy retirees and "trust fund children" who aren't earning high incomes, but still have a lot of money to spend on housing?
Yes, a lot of 'em here. I have a friend who dropped 300k on a house, they're in their early 20s and make 30k/yr. Dad paid for it all. A lot of those up here.
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