Market Report for June 2017
Days on the market shrunk significantly from May to June, as is traditional in our market, with the change in average price continuing to show double digit growth over last year. Despite a large number of sales, more inventory has come to the market, as we predicted, giving us a slightly larger supply of homes than last month. The hottest market segment in Buncombe County has dropped $5o,ooo, though the median sales price is up slightly since last month.
So, what’s in store for the rest of the summer? We saw a slow down during the July 4th holiday weekend and predict the market will continue to cool off as the summer gets hotter and school starts back. This should mean slightly lower list to sales price as demand is slightly less, and months supply of homes and days on the market should continue ticking up incrementally, which will indicate a healthier and more steady rate of growth in the Asheville and Buncombe County markets.
Buncombe County Market Report
Asheville City Market Report
If you found this data helpful and would like a more detailed look into a specific neighborhood or zip code, contact one of our agents or call the office at (828) 232-4030. We are happy to provide you the information you need to Move Smarter.
Tiny House, Big Idea
Hand to chin, Jennifer eyed the space where her silver SUV was parked.
“Could I build a tiny house right here?”
Last year, she fell in love with the house in Kenilworth and its view of the lake. After moving in she added an outdoor room — the perfect playroom for her two-year-old grandson.
Gazing from this room at the pines reflected in the water below, she smiled. “Blissful.”
But living here could be even better, she mused, if her daughter, son-in-law, and baby grandson were right next door.
She makes a good point.
With scant rentals available, and costs prohibitive for many first-time homebuyers, a tiny house may be a smart option. Costs can be kept low, around $15,000, but quickly rise with the quality of materials used.
Smaller homes are catching the imagination of many, including downsizing Boomers and Millenials just starting out.
Where did tiny houses start, and just how tiny are they?
‘Wee Houses’ began in 2003 as affordable alternative housing.
In North Carolina, a tiny house must be at least 120 square feet, but anything under 500 square feet is considered tiny. A typical storage shed is 100 square feet.
City of Asheville rules allow homeowners to build a small house next to the main one. However, zoning regulations, HOA bylaws, environmental, and other restrictions apply, so if you’re thinking about building a tiny home, do your homework and ask your real estate agent for more information.
Tiny houses can be site-built and made to be “grow-able,” to accommodate the homeowners’ changing needs.
For Jennifer, building a tiny house at the top of her driveway would mean a visit from her grandson could be only steps away, not a half-hour drive. And that could create a living arrangement to benefit the whole family.
Written by Suzanne Arthur, Broker, REALTOR, and Kenilworth neighbor. Connect with Suzanne at firstname.lastname@example.org to see if a tiny house may be a good (and legal) choice for your property, and keep up with all of Asheville’s local happenings by following @suzannearthur_realtor on Instagram.
Market Report for May 2017
The hottest market segment continues to hold steady at $400-499k. This is due, in large part, to the significant (though less drastic than April) change in average price. Many potential sellers aren’t listing their $300-399k homes despite the increase in value because the homes in the $400-499k range have increased at the same percentage. As you can see, this short supply is also pushing down the months of inventory and days on the market quite significantly over last month and last year. We are regularly seeing homes go under contract on the first day with multiple offers over asking price. We expect similar buying conditions but a larger supply of homes next month as schools let out and summer moving season begins.
Buncombe County Market Report
Asheville Market Report
For more information about our local markets, feel free to reach out to our agents by email or call our office at (828) 232-3040. We aim to ensure you have all the information you need to Move SmarterTM and make the best buying and selling decisions.
Market Report for April 2017
Buncombe County Market Report
Asheville Market Report
If you’d like additional information about this data or want a more in-depth look at a specific neighborhood, contact one of our agents or call us at (828) 232-3040. We’re always happy to equip you with the knowledge you need to make the best real estate decisions.
Helpful Tips for a Successful Move
When we learned we’d be moving to Asheville, our daughter, Helen, received a book from her babysitter… who also happened to be her kindred spirit. The book was the Dr. Seuss classic “Oh, The Places You’ll Go!” Like most of the Seuss reads, it’s just as relevant to adults as it is to kids. Although it’s not a book about moving per se, it does lay out all the thoughts that can come to mind when considering a move.
You’ll be on your way up!
You’ll be seeing great sights!
You’ll join the high fliers
who soar to great heights.
I’m sorry to say so
but, sadly, it’s true
can happen to you
So how do you move your family (including the four legged members), and all your belongings without having a bang-up or a hang-up… and maintaining your sense of calm through the process?
Yes, that’s the ticket. Physical preparation – boxing everything up in a labeled box – is an obvious one, but getting mentally prepared is just as important. One great way to stay on track is making a Moving Checklist. As soon as you know that a move is on the horizon, start a folder of things that will need to be done. These list items can be everything from address changes for bills to acquiring boxes and packing supplies. Realsimple.com offers an interactive checklist for a two month timeline and a quick search yields several other great resources on the web.
If you’ll be using a professional moving service, start researching now. We found out the hard way that many of the expenses and pricing aren’t so straightforward. For example, movers either charge by weight or cubic feet of space in a truck. There are pros and cons to both methods. We chose a company that charged by weight because that seemed to be what most companies in our area were doing. Two different companies quoted around 7 to 9 thousand pounds of ‘stuff’ in our house. Who knew we had so much junk! And as it turned out, even that was grossly underestimated. We had closer to 14 thousand pounds of ‘stuff,’ which in turn almost doubled our quote. We learned several important lessons from this experience:
- Be prepared for additional costs
- Don’t have so much stuff – Now is the time to purge!
If after going through your checklist, you’ve decided you’ll be doing all the packing, you’ll need lots and lots of boxes. Probably more than you’d imagine! Boxes can be expensive if you’re buying them new from a moving supply or retail company. Prices vary, but can range from $3 to $12 each. However, if you’re up for doing a little research, you can find plenty of boxes for free. Start by checking with neighbors and friends, neighborhood social groups like Nextdoor and Facebook, or grocery and retail stores. Some recycling centers also offer free boxes, or will sell them for pennies, and perhaps now might be the perfect time to meet the new neighbors that just moved in and take advantage of all their boxes. Just remember, no matter how you got the boxes, label it with the contents AND where that box may go in your new home!
Kids, Pets and Plants
We made our move with a toddler, two cats, two dogs and a dozen plants. It may not be apparent at first, but the stress of a move is tough on everyone on this list, too. So, don’t let moving day creep up without getting everyone ready.
Our daughter was almost two at the time of our move and was generally into everything, so we gave her jobs to do. We would make daily piles of things we wanted to donate or give away and let her pack (and repeatedly unpack) those items , complete with her own roll of tape and crayons for “labeling.” She really enjoyed being able to “help.”
The four-legged family members need to be prepped for moving day, too. My wife is a veterinarian, and she’ll tell you that when pets’ routines are disturbed, they can become stressed just like us humans. If you plan on moving them in crates, make sure they are comfortable and used to them well before moving day. If they will be in your home when the movers arrive, move them to a room that is already cleaned out and has a way to be closed off. This will relieve some of their stress (and yours) and is a great way to make sure no one escapes out of an open door.
As for plants, ours were small enough to take in our cars without much preparation. If you have large plants or too many to take in your own vehicle, make sure to check with your moving company ahead of time. Many times, movers are not allowed to have plants in the cargo area of the trucks, especially if the move is across state lines. If you do have a significant number of plants, Atlas Van Lines offers a more specific list of tips on how to move them that you can find here.
Seek Help When Needed
With all these many things to keep up with for a move, don’t be afraid to ask for help. Our move was an excellent opportunity for our parents to spend time with our daughter and help when and where they could. We also created opportunities for willing friends that could help. We treated them to dinner or offered to watch their children when we got settled into our new home, and if you have the luxury of help and the time, get any painting done while the slate is clean. You’ll be glad you did.
When the moving truck finally arrives try to stand at the doorway when the movers start bringing everything in. You’ll be glad you labeled which room the boxes will be going in. If you labeled them well enough, the movers can start taking them to the appropriate rooms, or at least you can direct them easily.
Continuing on the preparedness theme, have a travel bag or suitcase with a few necessities that will go in your car. Think about what you might take on an overnight trip. I say this because our movers’ truck broke down on the way to our new home from another state, so our delivery was delayed until the next day. Luckily we had an air mattress and few items to get us through the night. Although it was a setback, it was sort of nice to sleep on the floor in our new, empty, home!
If I can leave you with any takeaways…
- Get prepared with your check list
- Label the contents of every box AND where it goes (kitchen, basement, etc.)
- Research your moving company
- Give your kids a chore to help
- Label your boxes!
- Get your pets prepped
- Ask for help
- Enjoy your new home! (And label your boxes!!)
Broker Jeff Farmer moved to Asheville from Tennessee with his wife, Sara, their daughter Helen, two cats and two dogs. Jeff offers the lessons he learned from this move and from assisting buyers and sellers to help you make the transition to a new home as seamless as possible. Jeff can be reached at email@example.com.
Market Report for February 2017
The February numbers are in and much of what they have to say confirms our 2017 predictions. Median sales price is up significantly over last year and can be explained by the continued trend of low inventory.
Asheville Market Report
Buncombe County Market Report
To see what the numbers look like in your neighborhood, our agents are happy to provide a more in-depth analysis.
3 Simple Steps to Hiring the Best Moving Company
Hiring a mover can be a daunting experience especially when simultaneously trying to organize the other aspects of moving to a new home. After more than a decade of experience coordinating cross-country relocations and helping folks with local moves, I’ve developed a list of tips and interview questions to help you find the most professional mover so you have the best moving experience.
1. Decide what type of move you need.
Intrastate or Local
For intrastate moves (moves within the same state) visit your state’s website for a list of licensed and insured movers. In North Carolina, you can find carriers who are in compliance with the state’s regulations here.
Interstate or International
For moves across state lines (interstate) or internationally you can search carriers using the federal motor carrier safety administration’s site.
2. Determine how much assistance you want with your move.
There are a few different levels of service and pros and cons to each depending on the specifics of your move.
Full Service Move
Choose this option when you want the moving company to safely pack every item in your home, supply all the boxes, bubble wrap and packing paper, pad and shrink-wrap all furniture, load, move, unload the truck and unpack as many of the boxes as you want, wherever you want.
This is the most commonly requested service. You pack and box your belongings. They pad and shrink wrap your furniture, load, move and unload the truck at the desired location.
Load & Unload Only
Movers can help you to load or unload your rental truck, storage pod, ABF truck, storage unit or garage. This option is most useful to people who are able to drive a rental truck or who want to use a freight service. While you can save money using this option, you take on the responsibility for your belongings while they are being moved. The moving company, truck rental or Freight Company will not be responsible for any damage while in transit.
Some companies will recycle boxes and packing materials after use. They can help you to obtain free, clean, sturdy and inspected recycled boxes or plastic bins to help lessen your move’s impact on the environment and your wallet. Some moving company’s trucks also run on bio-diesel to reduce emissions.
3. Interview Your Mover.
Once you have determined the type of move you need and the service level you desire, there are a few questions to ask each mover you interview to ensure everyone is on the same page.
“Do you work for the mover or are you a broker?”
Brokers play an important role in helping customers match up with moving companies. Keep in mind, however, that a broker cannot give you a binding estimate and a broker is not responsible for loss or damage.
“Do you give binding quotes?”
A mover or broker may give you a quote over the phone, but those are generally not binding. Upon reviewing your items in person, a mover might then give a binding or “not to exceed” quote. However, brokers don’t typically give binding quotes.
“Does the quote include extra charges?”
For example – flight charges, long carry charges, appliance charges, parking charges, storage charges, fuel charges, awkward objects, etc. If you have a piano, you should let them know up front. Ask them if they have equipment to help with heavy and awkward items.
“Will my items be transferred?”
Long distance moves can sometimes require your items be transferred to another truck. This extra handling increases the chance that damage may occur.
“What forms of payment do you accept and on what terms?”
I do not recommend you hire a mover if they only accept cash. Be sure you are clear about the amount that is due on delivery versus the deposit amount, and whether deposits are refundable. Most companies that have a merchant account will accept credit cards, so be sure to ask if credit cards are an option.
“What type of insurance is included in your quote? What else is available to me?”
Basic coverage is 60 cents per pound but your moving company may offer an upgrade at a reasonable price. You can also work with third party insurance providers to cover the move.
“What is the process if something were to break or is missing? Who’s responsible?”
This is a follow-up to the previous question that clearly breaks down who is responsible for what. If you’re discussing a self-service move, you may not get reimbursed for something that you packed poorly. Wherever the responsibility lies, it’s better to know in advance.
No matter which type of move you are facing, a little planning and preparation can go a long way to reducing stress. Whether you are planning a local move or a long-distance move, using an independent local moving company, a national carrier or going DIY, these tips can make your move a smarter, safer and smoother experience!
Written by Jen Woodward, Broker, REALTOR with special thanks to Sean Lallouz, owner of Dry Ridge Moving and Transportation LLC. With more than a decade working in real estate and relocation, Jen utilizes her personal and professional moving experience to assist buyers and sellers in the Asheville market and beyond.
What makes a home “green?”
A Brief History of Green Building
The green building trend began to take off as a reaction to the short-lived Oil Crisis of 1973-1974. Poor insulation and a lack of climate adaptation in buildings of this period meant homes were drafty and used fuel inefficiently. Meanwhile, fuel uncertainty caused prices to rise, however briefly, generating increased interest in both improved building techniques as well as wind and solar energy. The end of the Fuel Crisis restored low prices, decimating the alternative fuel industry. However, the over-insulated homes produced in the wake of the Crisis began showing troubling side effects by the 1980’s such as rotten wood inside walls, mold, sick building syndrome and fogged dual pane windows. As a result, building science took off so builders could make sense of and eventually prevent these issues while continuing to improve insulation and home efficiency.
Green Building Today
The original interest in green building has only grown, both as a reaction to the early 2000’s trend of large, inefficient homes and in light of growing environmental concerns. However, it’s the benefits of green building that have driven most of the industry’s growth and pushed even traditional builders to adapt some green building techniques.
Home Owner Benefits:
- Lower Energy Bills: through energy efficient lighting, equipment, and appliances
- Healthier and Comfortable Indoor Environment: consistent temperatures and reduced risks
- Increased Market Value: higher resale value of a home
- Financial Tax Incentives: state and federal tax credits for renewable energy and energy efficiency
- Performance Report: third party verification quantifying the home’s overall energy score, annual energy cost savings, and pollution prevention
- Reduced air pollution through energy efficiency
Most of the “green” certified homes in Asheville use the Green Built NC certification, which is a third party verified program. The home is tested and then scored on a check list.
Green Built NC
Green Built NC Homes is a statewide program in North Carolina that provides a certificate for builders who meet “green home” guidelines. These guidelines emphasize comfort, health, energy and water conservation, site preservation, and renewable energy use. This certification includes either ENERGY STAR certification, or a HERS Index of 85 or less and showing that the house is 15% better than the 2009 International Energy Code, plus inspection of additional items specific to the Green Built NC program.
- The Green Built NC program encompasses all aspects of environmental design and construction including:
- Site and Landscape: healthy outdoors by using erosion control and saving existing trees
- Water Efficiency: lower water bills by using high efficiency irrigation and plumbing fixtures
- Building Envelope: lower utility bills by using high efficiency windows and insulation
- Heating and Cooling Systems: higher comfort with efficiency equipment and sealed air ducts
- Appliances and Lighting: lower utility bills by using Energy Star appliances and lighting
- Indoor Air Quality: a healthy interior with non-toxic finishes and minimizing moisture
- Materials: a low maintenance home using durable, local, and recycled content materials
- Third Party Verification: reassures the home owners that your homes are reviewed by an independent team of high performance building professionals.
EPA’s ENERGY STAR Program was created to help identify the best ways to save energy. The little blue label says this product, this home, this building or factory is doing the right things to save energy. Energystar.gov offers the most comprehensive resource available for energy efficiency advice and information. ENERGY STAR certified homes are independently verified to meet strict guidelines for energy efficiency set by the U.S. Environmental Protection Agency. These homes save money on utility bills, provide a more comfortable living environment with better indoor air quality, and help protect the environment.
- Typical features to look for in ENERGY STAR certified homes include:
- Efficient Walls and Windows, the levels of wall, floor and attic insulation properly installed designed to block drafts, and high-performance windows;
- Efficient Air Ducts, so rooms get enough air to have consistent, comfortable temperatures throughout the house;
- Efficient Equipment for heating, and cooling the house, helping you save money while staying comfortable;
- Efficient Lighting and Appliances, including ENERGY STAR certified dishwashers, refrigerators, light bulbs and clothes washers.
Better energy efficiency and performance means lower utility and maintenance costs. Homes earning the ENERGY STAR label use 15-30% less energy than typical cow homes, and even more when compared to most resale homes on the market today.
- Based on national averages, ENERGY STAR certified homes built in 2015 are the equivalent of:
- Reducing CO2 emissions by 141,952 metric tons
- Growing 3,607,528 tree seedlings for 10 years
- Avoiding the consumption of 330,131 barrels of oil
- Removing 29,867 passenger vehicles from the road
The Home Efficiency Rating System (HERS) is the industry standard by which a home’s energy efficiency is measured relative to other buildings. It’s also the nationally recognized system for inspecting and calculating a home’s energy performance, similar to the Miles Per Gallon (MPG) rating for cars. The lower the HERS rating the more efficient the house. To calculate a HERS score, the variables under consideration include all exterior walls, flooring, ceilings and roof, foundation, windows, doors, vents and ductwork, HVAC systems, water heating systems, etc.
The current International Energy Efficiency Code (IECC) is a HERS score of 100. What does all of this mean to you? A low HERS rating can mean high resale value, lower utility bills, better air quality and lower environmental impact.
For more on HERS Scores and their meaning: http://www.resnet.us/hers-index-score-card
Written by LeAnn Bound, Broker, REALTOR. LeAnn and her husband James founded GreenCraft, a locally owned and operated green building company that focuses on energy efficient design and environmentally sound building practices. LeAnn uses her first hand knowledge of green building to assist buyers, sellers, and new home buyers.
Market Report for December 2016
The market trends we saw in December strongly reflect the larger market trends for our area. While there were fewer new listings and closed sales overall, the sharp increase in median sales price in Buncombe County as well as the significant decrease in month supply of homes in Asheville and Buncombe County indicates that the market is “hot.” Fewer days on the market until sale and fewer days between list and close compared to last December further support this conclusion. Check out the data below for a more targeted look at our local markets.
Asheville City Market Report
Buncombe County Market Report
If you’d like additional data about our market in general or even a specific neighborhood in the area, we’re happy to help. Send one of our agents a message or give us a call at (828) 232-4030. Happy New Year!
Market Report for November 2016
November is typically the slowest month of the year in the real estate industry. Clients find it challenging to make time for house hunting and keeping the home they’re selling pristine for showings during the holiday season. Because there are fewer sellers in the market, the months supply of homes is at the lowest it’s been this quarter, which means those sellers who do decide to list homes in November have less competition. We also saw that without as much inventory to choose from, the average days on the market ticked back down. That said, buyers don’t have it so bad either: the average sales price and the YOY change in average sales price is the lowest this quarter.
Asheville City Market Report
Buncombe County Market Report
For more information on the Asheville real estate market, you can check out the reports for October, September, and August or give us a call at (828) 232-4030. We’re happy to go in depth about the trends we’re seeing generally or more specifically in your area of interest.
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