real estate investing

PLANNED ECO VILLAGES

These types of communities are referred to by several different names. They may be Pocket Communities, Front Porch Communities, Cottage Communities, or ECO Villages. Regardless of the name, they all have a common goal. The intent is to create a community of houses with a shared space and a common intention. These planned villages differ from typical subdivisions centering around a golf course or swimming pool as they are designed to promote friendly interaction and shared responsibilities.

The more successful projects have a lower number of people and houses, which allow each other to get to know their neighbors. Many of these groupings share walking trails, gardens, as well as a community building that may or may not be a central area for everyone to meet on a regular basis. More than just passing each other while enjoying the amenities, the community works together to help with the upkeep, ensuring that they know and help their neighbors.

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WHAT IS BUILD GREEN REAL ESTATE?

Build Green Real Estate is an educational collaboration between the Asheville Home Builders Association, Land of the Sky Association of Realtors and Greenbuilt Alliance. By attending this class, you’ll be able to apply the knowledge and best practices directly to your business for building and selling green real estate. In an effort to educate industry professionals on construction-related material from codes, energy efficiency, green appraisals and lending to green homes - this course has been created by professionals for professionals! The course is offered several times throughout the year. Be sure to check back often for updates! 

WE UNDERSTAND REAL ESTATE INVESTING BECAUSE WE ARE INVESTORS

We have a unique understanding of real estate investing because we have personal experience with property management, flips, new construction, and renters at our personal home.

Throughout the years, we have created a TEAM of handypeople, contractors, subs, attorneys, tax accountants, and more. We are members of CREIA and Bigger Pockets, and yes, we have also taken those courses promoted by those TV personalities.

Our goal is to create a long-term relationship with you as an investor and provide you information and insights that become invaluable. When you think about investing in real estate, you will automatically call Love The Green.

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    WINTER TIPS AND REMINDERS

    At heart, I’m a good ole' country girl. I lived on a big farm growing up and was very familiar with the numerous tasks involved during the winter months. Later in adulthood, I moved to Long Beach, CA and the thought of freezing pipes and well pumps faded from my memory. 

    Now that I’m back home in the mountains, I sometimes laugh at the questions my warm weather friends and clients ask. However, I understand the uncertainty that the winter months can bring.

    There are some common sense practices that you can do at the beginning of the winter. So with that in mind, I offer these suggestions:

    • ONCE NIGHT-TIME TEMPERATURES ARE IN THE 30S OR BELOW, CLOSE YOUR CRAWLSPACE VENTS.
    • ONCE NIGHT-TIME TEMPERATURES ARE IN THE 30S OR BELOW, EMPTY YOUR RAIN BARRELS AND WATER HOSES, THEN STORE IN A DRY AREA.
    • COLLECT YOUR FLASHLIGHTS AND BATTERIES AND STORE THEM IN AN EASY TO FIND LOCATION.
    • HAVE AN ALTERNATE HEAT AND COOKING SOURCE OTHER THAN ELECTRIC.  If you have a fireplace, wood stove or corn pellet stove, be sure you have a good wood or corn supply located close to the house. If you have a kerosene or propane heater, make sure your fuel source will last at least 72 hours. It is a good idea to have a second propane tank for your gas grill.
    • WELL WATER REQUIRES AN ELECTRIC PUMP TO GET THE WATER TO YOUR HOUSE. IF THE ELECTRICITY IS OFF, THE WATER WILL BE TOO. If you see the lights start to flicker during a storm, it is a good idea to fill up jugs of water. Also, have several buckets of water to flush toilets. You can pour the bucket directly into the bowl, or pour it into the back tank and then flush. You can also fill buckets with snow, set them into your tub to melt, then use later for flushing toilets.
    • BE PREPARED BEFORE YOU GO OFF TO WORK. Every now and then, we will have a snow event, and depending on the location, there can be a great difference in the road conditions. What is at your house may not be the same as what is on the road, driveway, or parking lot elsewhere. Many times the snow is light and melts by mid-day and our main roads are usually in good driving condition. However, secondary roads and especially driveways may not be clear for several days. If you live up a big, winding road, think about parking your vehicle at the bottom and walking up.  When the police advise not to get out unless you absolutely have too, please listen. Remember, there are always people on the road who have never driven in snow. While you may be a great snow driver, you don’t know what is going to happening down the road.  If it is an ice storm, stay put. I don’t care who you are, no one does a good job of driving on ice.  Be sure to have water, food, flashlight, boots and extra coats or blankets in the vehicle. The winter is also a good time to practice keeping the gas tank full.  Sometimes the road can be blocked for hours, and it gets cold if you run out of gas.
    • DON’T LET YOUR PIPES FREEZE.  OK, first thing, if your neighbor or cousin Ed told you to put a heater in the crawl space, DON’T!!!!!  Now for the logical recommendations - if the night-time temperatures will go below freezing, it is a good idea to let all faucets drip slightly. Hopefully your water pipes already have insulation around them. If not, you will need to make sure that is done. If you are leaving town for a few days, go ahead and leave the water dripping and keep the temperature around 50. If you are gone for the entire winter, it is best to “winterize” the property, which includes draining the water heater, water line and toilet lines.
    • PETS Hopefully, you already know that pets are supposed to live indoors and I don’t have to ask you to bring them inside if the weather is freezing. What you may not think about is that the snow level may be higher than your dog, so keep a shovel close by to clear off an area that will allow them to do their "business".  If you have a dog like our Tyler, then he/she will need a coat because the underbelly is more skin than fur.  Also, if your bigger dogs like to romp through your yard, it is a good idea to use snow booties to prevent cuts from garden decorations and fencing they might not see in the snow.
    • WHEN THE WEATHERMAN SAYS IT IS GOING TO SNOW!!  Go to a local grocery store and enjoy watching people buy milk and bread. Personally, I recommend buying chocolate - lots of chocolate!

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      WEEKLY MARKET UPDATE ASHEVILLE REGION MARCH 8 2020

       We are all adjusting to the demands and uncertainty of Covid 19.  At this moment the best we can do is live one day at a time and be kind to everyone.   I am a stat junkie. I like to review past trends to predict future ones.  However, since there has never been anything in our lifetime like this, looking at the past data is mainly for information.  So with that in mind, I wanted to share what has been going on in the real estate market in our area. 

      On March 26, 2020 Buncombe County issued a Stay Home Stay Safe Declaration that was stricter for Realtors than the state mandate.  During this time period Realtors are not allowed to physically show the property to buyers. Virtual showings have become the new normal.  The fact that a buyer can not physically view a property will have an impact on pending sales, new listings, and closed sales if the mandate continues. 

      These stats are for last week (since it takes 30-45 days to close. Real Estate stats are taken from past week and past month.)

      • New Listings decreased 28.9% to 244

      • Pending Sales decreased 32.4% to 167

      • Inventory decreased 18.2% to 3,782

      Now while this shows there is a slow down, when compared to last year this same time, overall the numbers are better than last year.  Our market was set to sky rocket at the beginning of March.

      We don't know how long our #staysafestayhome orders will last so predictions are just that.  However, one thing that is assured for at least the next few weeks. Cash is king. A cash deal with fast close will be what most sellers are looking for.  So it is possible that some great buys could happen in the next few weeks.  

      For a video update visit our YouTube channel https://www.youtube.com/playlist?list=PLBQCN_u2AkiOflAQYGGjJ7libhuBVKwYz

      If you would like a detailed analysis for this week please email mary@lovethegreen.org 

      Stay safe and be kind to one another.

      REAL ESTATE MARKET APRIL REPORT

      We have been looking week to week concerning our local real estate market. Now it is time for the more comprehensive update.  The data is collected from our local Canopy MLS.  Now that the Covid 19 crisis has had a full month run in real estate it is important to examine our Greater Asheville region, which includes Burke, Buncombe, Haywood, Henderson, Jackson, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania and Yancey.

      Canopy’s April report stated: “Year-over-year sales declined 14.5 percent in April 2020 across the 13 counties, with 737 homes sold. Compared to March 2020, sales were down 12.1 percent. Year-to-date figures for 2020 show the Asheville region with sales still positive and up 6.9 percent compared to sales during the first four months of 2019.

      Pending contracts, the metric that indicates buyer demand, declined 21.3 percent year over- year with 840 contracts written in April, while new listing activity had a deeper decline with listings down 43.9 percent year-over-year with 936 homes listed. There were 1,667 homes listed for sale during the same time last year. Prices across the region increased, with both the median sales price ($266,500) and the average sales price ($315,167) rising 4.5 percent and 6.7 percent, respectively.

      The Asheville Metropolitan Statistical Area (MSA) had year-over-year sales decline 20.9 percent in April 2020 with 483 homes sold compared to 611 last year. However, sales during the first four months of the year compared to the same period last year rose 4.8 percent with 2,099 properties sold. Stay at home orders forced buyers to the sidelines as pending contract activity fell 27.3 percent year-over-year in April; while new listings had an even sharper decline of 41.3 percent year-over-year. As inventory continued to fall (down 24.7 percent year-over-year at report time), prices rose in April, responding to seller’s market conditions that have been prevalent for the past few years. Both the median sales price ($294,500) and the average sales price ($341,129) rose 6.7 percent and 5.3 percent, respectively. Homes averaged 69 days on market in April and the MSA has 3.3 months of supply of homes for sale at report time.

      Buncombe County

      Buncombe County, with its stronger stay at home order, saw sales decline 27.8 percent year-over-year as 236 homes were sold in April 2020 compared to 327 sold last April. Year-to-date sales show the county’s sales up 3.5 percent compared to sales during the first four months of last year. Both pending contract activity and new listings activity had sharp declines in activity year-over-year, with pending sales falling 30.2 percent and new listings down 39.5 percent. Prices continued to rise in response to seller’s market conditions. Both the median sales price ($309,000) and the average sales price ($373,598) increased slightly, up 1.3 percent and 2.7 percent, respectively. Inventory was down 23.8 percent year-over-year in April, leaving the county with 3.2 months supply of homes for sale. Homes sold quickly during the month, as days on market averaged 51 days in April 2020 compared to 61 days in April 2019.

      Haywood County

      Sales in Haywood County fell 9.8 percent year-over-year with 92 homes sold during the month compared to 102 homes sold last April. However, year-to-date figures show sales up 14.3 percent compared to the first four months of last year. Pending sales declined 18.4 percent year-over-year in April with 80 contracts written, while new listing activity was nearly half of what it was last year, falling 48.4 percent with 81 homes listed for sale compared to 157 last year. Prices increased modestly year-over-year with the median sales price ($225,000) and the average sales price ($268,807) rising 1.1 percent and 2.1 percent, respectively. Inventory was down 25.3 percent year-over-year with 348 homes on market or 3.6 months of supply. There was no change year-over-year in days on market, which averaged 95 days in April.

      Henderson County

      Henderson County’s sales were down 15.2 percent year-over-year in April 2020, with 140 homes sold compared to 165 homes sold during April 2019. Year-to-date figures show sales still positive and up 2.9 percent over sales during the first four months of last year. Pending contract activity declined 24.4 percent year-over-year with 146 contracts in the pipeline compared to 193 contracts written last year. New listings also declined 40.2 percent year-over-year, with only 174 listings added to the market compared to 291 that were listed last year. Prices rose sharply as inventory declined 27.4 percent yea over-year, leaving 515 homes for sale at report time. The median sales price of $316,950 increased 13.2 percent compared to last year, while the average sales price of $341,941 rose 14.7 percent over last year. Days on market averaged 67 days in April compared to 72 days on market a year ago, and the county had 3.0 months of supply of homes for sale at report time.

      Madison County

      In Madison County sales were down 11.8 percent year-over-year in April 2020 with 15 homes sold, while year-to-date figures show sales are up 1.8 percent with 57 homes 3 sold compared to 56 homes sold during the first four months of 2019. Pending sales, which only totaled 12 in April, fell 36.8 percent year-over-year, while new listing activity declined 47.7 percent year-over-year with just 23 homes newly listed compared to 44 last April. Both the median ($228,500) and the average ($266,293) sales prices rose 69.3 percent and 54.8 percent year-over-year in April, respectively. Madison County is a buyer’s market with 7.4 months of supply and 137 homes for sale compared to 171 homes for sales in April 2019. Properties averaged 212 days on market in April compared to 73 days this time last year.”

      The city of Asheville usually has the larger percentage of  price point and numbers in the region. New listings were down for the month of April and with that so is the inventory. Therefor the average list price continues to climb in Asheville city limits.

      The city of Hendersonville saw a 14.7% increase in the closed prices, in the month of April.

      If you would like the pdf reports  which includes charts and graphs for all of the great Asheville region, please email me.

      Please watch  this video for my interpretation and predictions of our local real estate market.

       

       

       

      LOCATION LOCATION LOCATION

      You have probably heard the quote, “location, location, location”.  It really is all about location.  An identical house in downtown Asheville, NC will sale for several thousand dollars more than the same house located in Candler, NC.  Currently, people want to live as close to downtown Asheville as possible.  The majority of people moving to the area want to partake in the food, fun, and events that occur downtown. If they can afford it they would like to be able to walk to restaurants and pubs.

      This week I did something different for the YouTube video update. I used a program I have to compare apples to apples and see what a difference location makes. I was comparing the median home price for May 2020.  I reviewed different cities and towns in Buncombe Co. NC.

      The criteria:

      • 3 bedrooms/ 2 baths
      • Tradition (not distressed) resale existing homes (currently new construction is always more then existing homes)
      • 1,000-2000 square feet

       

      Asheville city $314,500

      Alexander $ 260,450

      Black Mountain $198,650

      Swannanoa $230,000

      As you can see there is a big difference between Asheville city proper and the surrounding towns.   The same holds true for increase resale value. While you may end up paying more for the city limits of Asheville, in most cases you will also end up selling it for more.

      This is important for sellers whose house is only 20 minutes from down town Asheville.  An appraiser will compare houses closest to you because location does make a difference. 

      This is also important for buyers. Depending on what you want and if living in the city is not important to you then you can get a bigger yard and maybe a bigger house for the same price of that house on the infield lot.

      Be sure to view this week’s YouTube update and subscribe.

       

      Real Estate Market Update Greater Asheville NC Area June 2020

      Nationally as well as locally, the month of June reflected a pent-up demand by prospective home buyers.  New Listings were down in the Asheville region by 7.0 percent to 1,430. Pending Sales increased 33.1 percent to 1,509. Inventory shrank 38.0 percent to 3,354 units.

      Prices moved higher as Median Sales Price was up 3.7 percent to $280,000. Days on Market decreased 5.9 percent to 64. Months Supply of Inventory was down 42.6 percent to 3.5 months, indicating that demand increased relative to supply.

      Buyers are eager to purchase as fast as possible.  Those who have returned to work want to find a house and move NOW!

      Sellers are more reluctant to list right now.  Many are in a wait and see mode.  They want to make sure they have a place to live if a second wave of Covid 19 hits. Until sellers regain confidence, housing inventory will continue to remain low and force prices upward.

      Buncombe and Henderson County have limited inventory in all price ranges with the medium days of market of only 18 days.  In houses less than $300K, the majority are under contract within 4 days and often involve bidding wars, if the houses are in good condition.

      Even with the shortage, buyers are still being choosy and want homes that are in good condition and have some upgrades.  The higher price point makes it less likely buyers will have extra money for improvements.   If seller’s want that top dollar they will need to put some money into the home to have it in good condition and staged attractively.  

      I am encouraging sellers, to make the improvement as fast as possible and get their house on the market NOW! 

      Who knows what this fall will bring?

      Source: Canopy MLS, and the NAR (National Association of Realtors) reports and surveys.