Happy New Year and welcome to the January update.   Looks like December was a positive month in Henderson County with regard to real estate trends.   During October 81 homes were sold, then the number dropped slightly to 73 during November.   December increased to 89 homes sold.   In this market, I am happy with any positive trends that indicate recovery may be on the way.    The overall market conditions here in Henderson County continue to be sluggish and most likely will continue throughout 2012.   As I have said often over the last couple of years,  if you want to sell in the current market, be prepared to offer an aggressive price.   If you are going to buy another home, consider that whatever you give up on selling your house, you will most likely make it up on the buyer side.    I hear so many sellers that say "I don't need to sell and I am not going to give it away."    To those folks, I say if you don't have to sell, don't be on the market.   With that type of attitude, you will not sell....it's that simple.    Selling a house is not rocket science.  Selling a house just requires a solid understanding of the market dynamics and an acceptance of the principle that your home is only worth what a ready, willing, and able buyer is willing to buy it for.   Seems simple enough.    The market has corrected dramatically during the last three years and you have to be willing to accept those changes.  

As the case has been over the last several years, pricing remains critical!  Pricing remains the biggest factor driving the market.   Many folks choose to price how they want to and then the buyers can "bring an offer".   Well, unfortunately that approach does not work.   If the buyers perceive a property to be priced too high, they simply move on to the next potential house on their list.   I cannot over stress the importance of setting the market with an aggressive price.   Many home sellers still choose to work with the agent that gives them the highest price on their market analysis.   My advice to sellers is to choose your agent first based on experience and qualifications, then work together to determine the appropriate price.  Often this requires getting an appraisal.   The money spent on an appraisal will be well worth it if you are successful at selling.    Presentation in the current market is another major factor.   The competition for the buyers is fierce and how a home presents is critical as well.   If you have been on the market for a while without a price change and the showing activity is down, you have to take a hard look at the price.   Market depreciation for the year of 2010 was significant with values dropping 15-30%.  We continued to see depreciation during 2011, from 5-15%.    Buyers are looking for deals and for your listing to sell successfully, buyers must perceive that your property is a "Great deal"!    Inventory levels have dropped  from 1,580 homes on the market in Henderson County during November to over 1,260 homes currently on the market.   This includes Single family homes, townhouses, and condos.   If trends hold true, many of those sellers are simply waiting until Spring to come back onto the market. 

The market is primed for buyers as interest rates remain very good.   There is plenty of inventory and pricing overall is very good.   If you are looking to purchase, I would encourage you to get pre-qualified as the landscape has changed dramatically in the World of finance.   Please call me if I can assist with any Real Estate matters at 828-329-4806.   

ERA Oates Realty

145 7th Avenue West

Hendersonville, NC 28792

Office: 828-693-8471

Cell: 828-329-4806

Fax: 828-693-1886

Email:  dave.shirlin@era.com

Website :    http://www.daveshirlin.com/

Multi-Million Dollar Producer 2007, 2008, 2009, 2010, & 2011  (Over $16.5 Million in closed business during the last 5 years!)

Data is direct from the Western North Carolina Regional MLS and does not include For Sale by Owner sales or any other private sales.