Connestee Falls News – Issue 1

Buyer’s Market ~ Seller’s Market

“I-need-a-REALTOR®”

Mortgage rates are low, customers want to buy, but confidence in the marketplace across the county is at its all time lowest point. Yet, market values in WNC are holding with just a slight decrease and our area is where many who dream of living in the Blue Ridge Mountains want to be.

Connestee Falls Realty, even in this challenging market, continues to be the number ONE Real Estate Firm in Connestee Falls.

It is essential to have a Real Estate professional who works hard and is dedicated to their clients and customers working for you. Our team of Real estate professionals have an objective eye and are experienced in dealing from both a buyer’s and a seller’s perspective.

It is an “I-need-a-REALTOR®” market. Now more than ever, a Real Estate Professional is needed to help achieve goals of buying and selling. We hope you will consider Connestee Falls Realty the next time you need the services of a REALTOR® .

Put our TEAM on your side, call today for a FREE “Comparative Market Analysis”.

Real Estate today

Frequently Asked Questions*

1. Are any houses being sold? Yes, while the real estate market is slow, especially when compared to the sales for the past three years, residences (homes, condos, townhouses) continue to be sold.

2. How many Connestee Falls residences have been sold in 2009? How many in 2008? As of 3/8/2009, seven residences have been sold. That compares with eight for the same period in 2008 and 48 in all of 2008.

3. How many residences are for sale at the present time? There are 102 as of 3/8/2009. That compares with 160 in Brevard and 585 in Transylvania County. Since some houses are taken off the market for the winter, we would expect that number to increase in the months ahead.

4. How do Connestee’s sales compare to Brevard? Transylvania County? Our seven sales so far this year compare favorably with Brevard’s nine and the county’s 26 (which would include CF sales).

5. What homes are selling? It is difficult to generalize, especially in this “buyer’s market” but some trends appear to be: new homes over older ones, updated over “fixer – uppers”, midsize over small or large. In today’s economic climate we see fewer second home buyers. Also the problem of selling an existing home before purchasing here continues to be a major hurdle to local home purchases.

6. What about lots? Basically, lot purchases are nonexistent at the moment. There are 135 lots listed on the MLS and so far this year one MLS lot has been sold. That compares to 20 lots sold in ’08, and 61 sold in ’07. Historically lots have been sold to newcomers to build, to contractors to build “spec” houses and for existing members to combine lots next to their homes. In today’s economic climate there is little incentive for any of these groups.

*Statistics quoted are for homes; single family, condos, and townhouses listed on the Multiple Listing Service (MLS)

Connestee Falls Realty Box Score

Residences sold:            2009                2008                2007            2006
7                   48                    67                109

Number of Residences for Sale as of:
3/08/2009                  12/31/2008                  12/31/2007                    12/31/2006
102                            112                                82                                   52

Prices of Residences sold:                  (Price)            (Price)
Range                          Median          Average        Ave. Days on Mkt
2009        $220,000 – $560,000       $325,000            $380,843                     237
2010        $123,000 – $845,000       $329,000            $366,000                     185
2011        $159,000 – $872,999       $399,850            $419,457                     108
2006          $80,000 – $800,000       $321,000            $343,000                     122