Asheville real estate foreclosure filings are continuing to fall; dropping another 3% in the first quarter of this year compared to the previous quarter and is down 18% compared to the same time last year.

Nationally the numbers are about the same 2% in 1^st quarter and 17% compared to same time last year.

Asheville NC real estate foreclosure filings were at their lowest quarterly total since 2007. However this could change. Analysis is predicting over four million new foreclosures will hit nationally within the next six months. This will hold Asheville home prices from increasing until the inventory has shrunk.

Waynesville real estate will also be hit along with Maggie Valley real estate as second homes seem to also be effected by foreclosures.

This is a great time to take advantage of some low Asheville Home prices and if you are interested in a Maggie Valley log cabin or Waynesville mountain home this may be a great time to act with the low interest rate.

Another interesting fact is Asheville home sales are seeing the average amount of mortgages being approved by lenders has grown in the last three months from $205,000 to $245,000 this is a good sign of increased buyer and lender confidence.

Real estate Asheville NC has seen an increase in average mortgage amounts, including a 21% drop in Asheville home inventory the last 12 months.

Waynesville real estate in homes sales has seen an 18% and Maggie Valley real estate 19% in a drop in home inventory.

All this will impact pricing and as lenders are more willing to open the gates to Asheville NC home buyers Asheville NC home inventory will continue to drop as Waynesville and Maggie Valley homes.

Tough question even though supply of homes has decreased from a 8.6 month average supply to a 6 month supply in the last year, many home owners are still seeing their home linger on the market and even longer with vacant land. Is there an answer? In the Asheville, Waynesville and Maggie Valley communities homes like many areas sold quickly at high prices in 2004 through 2006 and know the owners want to sell and here is the dilemma, their mortgage to larger than the home is worth and they need to cover their closing costs.

Often if they talk with the lender they may be able to help you out. If they tell you have to be 90 behind on you payments before they can talk with you go to the next level.

But here are some other suggests and perhaps include your real estate broker.

Price
In an overcrowded housing market, overpriced homes won’t get any showings. To attract buyers who want to buy quickly, pricing the home lower than the market may help.

Presentation
Sellers don’t have to spend a fortune on improvements, but maybe there’s a reason why buyers keep overlooking their home and items need to be addressed. Maybe some aesthetic finishes will help freshen up the home in buyers’ eyes, such as a fresh coat of paint, decluttering, new hardware on the front door, and tending to the yard.

Marketing

Is you broke marketing your property not only to Buyers but Brokers as well. With all the Asheville Homes on the Market it is important to keep yours in front of Brokers monthly.

Waynesville Real Estate and Maggie Valley Real Estate is starting to be as active as Asheville real estate market with home sales. This is very encouraging Waynesville Home sales are selling equal to 2007 homes sales but are selling on the average of 39% less. Maggie Valley real estate is seeing a nice increase in Maggie Valley Log Cabin home sales equal to Waynesville homes.

There has never been a better time to rent a Maggie Valley log cabin home and enjoy to beautiful mountain views and fresh air.

Some of the hard it housing markets like Ohio, Illinois, Florida, Michigan and Georgia are starting to see an increase in average home values. Markets like Palm Beach, Miami, Orlando, Tampa and Jacksonville sales have increase and inventory is dropping and will start seeing prices increase by next year. However, rising home values in these and other hard-hit markets could still translate to a short-term increase if banks and mortgage lenders raise mortgage rates.

The buying power of buyers today has never been better with interest rate staying below 4% for a 30 yr fixed and I Client of mine just got a 3.2% on a 15 year fixed. However they are predicting that interest rate will start increasing by midsummer.

What does this have to do with Asheville Real Estate you ask and the answer is everything! Florida has been responsible for 60% Asheville Home sales over the last 10 years and the rest have come from Michigan, Illinois, Ohio, Georgia, NY and NJ, all these markets are showing strong home sales.

This is having a major affect on real estate in Asheville NC home sales and is according to economist the reason Asheville NC real estate is a year ahead of schedule for recovery. As prices increase and interest Asheville mortgage interest rates increase sales will slow some but still promises to be a very strong season.

Communities next to Asheville like Waynesville and Maggie Valley real estate are also seeing a nice increase in home sales. Maggie Valley log cabins for second homes are starting to come alive once again. Those families that see the value of purchasing a Maggie Valley or Waynesville log cabin and placing it into a rental program are offset their costs and enjoy the beauty of the Western North Carolina Mountains.

As Asheville NC Real Estate continues to increase in home sales interest rates continue to stay low.

• 30-year fixed-rate mortgages: averaged 3.98 percent, with an average 0.7 point, dropping slightly from last week’s 3.99 percent average. A year ago at this time, 30-year rates averaged 4.87 percent. 
• 15-year fixed-rate mortgages: averaged 3.21 percent, with an average 0.7 point, dropping from last week’s 3.23 percent average. Last year at this time, 15-year mortgages averaged 4.10 percent. 
• 5-year adjustable-rate mortgages: averaged 2.86 percent, with an average 0.8 point, falling from last week’s 2.90 percent average. Last year at this time, 5-year ARMs averaged 3.72 percent. 
• 1-year ARMs: averaged 2.78 percent, with an average 0.6 point, holding steady at last week’s average. A year ago at this time, 1-year ARMs averaged 3.22 percent. 

This is the time to take advantage of the low interest rates and low prices before they all start to climb.

As the economy improves employment up and mortgage interest rate again below 4% is all contributing to a gradual rebound in home prices in real estate Asheville NC and across the Nation according to mortgage giant Freddie Mac’s 2012 Economic Outlook report, released Wednesday. However we still have a ways to go on the road to recovery for the housing market, the report noted. 

Freddie Mac has revised its forecast upwards for Asheville and National home sales. One economic contributor that’s helping to stabilize housing is the drop in the unemployment rate to 8.3%, its lowest level in three years, according to the report. 

Asheville NC real estate for sale home inventory in the lowest in 4 years compared to 12 months ago and Median home sale prices are up however a slight drop in new according to Freddie Mac reports. About a half of the increase in Asheville new housing and National starts has been for construction of rental apartments in multi-unit buildings to meet the increasing demand, the report notes. New rental construction, at its current pace, is expected to reach its highest level since 2005. 

Asheville NC Mortgage rates were down across the board this week compared to last week. Last week mortgage rates increased above 4% but now Asheville area real estate mortgage rates posting a big jump last week, a 30 year mortgage now offering another boost in home affordability for buyers dropping below 4% mark. However it is important to note as the economy improves and more people go back to work interest rates will increase.

Here is what you can expect this week.

• 30-year fixed-rate mortgages: averaged 3.99 percent, with an average 0.7 point, falling back from last week’s 4.08 percent average. A year ago at this time, 30-year rates averaged 4.86 percent.
• 15-year fixed-rate mortgages: averaged 3.23 percent, with an average 0.8 point, also slipping from last week’s 3.30 percent average. Last year, 15-year rates averaged 4.09 percent at this time. 
• 5-year adjustable-rate mortgages: averaged 2.90 percent this week, with an average 0.8 point, dropping from last week’s 2.96 percent average. The 5-year ARM averaged 3.70 percent last year at this time. 
• 1-year ARMs: averaged 2.78 percent this week, with an average 0.6 point, dropping from last week’s 2.84 percent average. A year ago, 1-year ARMs averaged 3.26 percent.

The beginning of spring Asheville real estate is starting off strong. Asheville NC real estate MLS searches have increased nicely on www.MillsRealEstateTeam.com web site.  Prospective Asheville Buyers seemed to be thinking different now and have told me they need to get off the fence before interest rates increase as well as Asheville home prices.

Asheville NC Home prices are bottoming now in many areas. In the fall on a National level the analysts had predicted home prices would drop by 8% from the second quarter of 2011 through the first quarter of 2013 however now they’re revising that forecast, realizing the housing market is stabilizing faster than they originally thought. 

Personally I believe in the Asheville NC real estate market that includes Waynesville and Maggie Valley area homes will start increasing in price by midsummer 2012. However analysts now predict that prices will remain flat for the next two years, as the excess foreclosure inventory is absorbed. They then expect to see a pickup in home prices by 2014. 

As Asheville NC mortgage interest rates increase as they have been within the last several weeks with motivate buyers to buy now before they increase even more.

Asheville real estate  is on the move as Western North Carolina home sales continues to increase equaling 2007 Asheville homes sales and will be equal to 2006 by midsummer. The overall dollar volume will be down by 30-40% compared to 2006 but the number of sales will be equal.

As Asheville NC new home sales continue to increase several communities are making a come back.

Asheville mortgage rates moved increased sizably this week, following higher bond yields and improving economic data, Freddie Mac reports in its weekly mortgage market survey. 

Currently mortgage rates are catching up with increases in U.S. Treasury bond yields, placing the average 30 year fixed mortgage rate above 4% for the first time since last year.

Asheville Home buying is more affordable than renting according to the index, which tracks asking prices for rental units compared to for-sale homes in major metro areas.

Over the last 8 months a Asheville NC home values and low mortgage rates have made home ownership more affordable.

As Asheville rents continue to rise and prices stagnate, home ownership is becoming even more affordable, but rising rents create a dilemma for people who can’t afford to buy yet.

Spring is here and Asheville NC real estate season is in full swing. My experience with Buyers look for an Asheville home can be very confusing. For example Asheville communities will also include Waynesville and Maggie Valley real estate 30 minutes away from downtown Asheville.

My wife and I first started looking for an Asheville home and someone told us about Waynesville NC so we visited the historical downtown area of Waynesville. We just fell in love with the area and the Waynesville mountains are absolutely beautiful and different that Asheville NC area.

We would have never heard about the area without a friend telling us to visit Waynesville. Other areas like Maggie Valley, Weaverville, Lake Junaluska, Balsam Mountain, Grove Park, Arden and Fairview real estate are close to Asheville but often the real estate agent may not be willing to drive to these area and the Buyers will be disappointed after moving here and becoming aware of the different areas.

This is why I believe it is so very important to have a real estate agent that can show you properties in different areas and give you the information of surrounding Asheville communities.

Because of the Asheville NC real estate can be so spread out one of the elemental truths of real estate is that almost everything can be changed about a home except its location. So it is very important to have a broker knowledgeable about the different areas. For example if you are living here there are Asheville locations that get more snow than others so if you are living here year around this may be important but if it is seasonal this may not be a problem. By the same token, location is essential to our ability to afford and enjoy living in a place, given that it impacts everything from, where our children go to school and whether or not we have to pay for it, how much time and money we spend getting to and from work, our safety, the beauty, quiet and convenience of our surroundings and the recreational, shopping and cultural options which do or don’t become part of our daily lives.

Asheville location impacts whether you hear train tracks, freeways or birdsong in the morning whether your neighbors bring you cookies or bring you drama when you move in it can even impact your career and job prospects. The deep, numerous impacts of where we live on our experience of a home, in turn, give location a powerful role in driving whether we can resell our homes and for how much.

The critical importance of location is one Asheville real estate rule of thumb that grows truer over time. However, the specifics of what makes a location desirable have and continue to evolve rapidly. For example, Asheville urban homes with super short commutes to bustling job centers have grown more and more interesting to buyers as their prices have come down and gas prices have gone up.

All these elements can play an important role in you Asheville home and it is important as our season begins that you have the right agent to guide you in the right direction. The Asheville real estate area covers not only Buncombe County but Haywood, Henderson and 3 other counties are within 30 minutes of Downtown Asheville NC.

The question that I am almost always asked is when I find the right Asheville home what I should make my first offer for. The Asheville MLS reports that the average home sells for 89% of the asking price. Keep in mind the percentage can be deceiving for example if it was priced at $300,000 than they dropped it to $250,000 and then it sold for 89% of the lower listed price. So having a good Realtor guiding you with comps of the area that sold within the last 6-12 months and helping you establish a good place to start is important.

So the key to buying a home in Asheville NC or any City is having the right Agent that will look out for your best interest and knows the area.

Asheville NC Real Estate seems to be at the turning point according to economists. They are say the housing market is starting to heal, but too many people aren't aware of it because they're judging it right according to today’s economists.

The signs Asheville NC Home Buyers are looking for like higher prices won’t be the sign that the housing market is on the mend, in most cases that can be a lagging indicator. They are better at looking at increase in overall Asheville home sales. Home sales give you true signs of improvement: Existing home sales in 2011 rose to 4.26 million compared to 4.19 million in 2010. Asheville home sales in the last six months alone have increased 13%. 

Fortune Magazine points out the evidence reminds us that perhaps we should change our expectations of what a housing recovery might look like, particularly following a crisis marked by record foreclosures and a financial crisis that sent the economy into one of the deepest recessions. The recovery we have been anticipating is defined more on the rate at which the glut of vacant properties comes off the market as opposed to any steady rise in prices, which some think won't happen for another few years.

Another indication is Asheville New Home Market shows steady improvement after a surge last month. Buncombe County Permits for single family homes increased 4.9% alone, the highest since April 2010, while permits for multi-family homes rose 5.6%.

A good indication for Asheville Real Estate turning the corner is new home permits and gives us an Asheville new home future gauge of building is a welcome sign for the building industry, which last year suffered one of its worst years on record for construction. 

Builder confidence in Western North Carolina has picked up in recent months and held steady, holding at near a five year high in March. While Asheville builders are still very cautious at this time however the Asheville Home builders are starting to get excited for the future.

The figures in most cases also cover Waynesville and Maggie Valley Real Estate.

As home sales increase so go the prices. Asheville NC’s median list prices including nationwide increased 7% in February compared to February 2011, according to the latest data from Realtor.com, tracking 146 markets.

Areas like Asheville, Waynesville and Maggie Valley with strong home sales and inventory dropping the housing market as a whole are in better shape today than at any time since the 2009-2010 tax credits. While higher list prices do not always translate into higher sales prices, they may signal a growing optimism on the part of sellers that the market has begun to turn around.

As Asheville NC and surrounding areas housing market continue to show signs of a turnaround and just before launching into the spring selling season it promises to be a strong year.

As Mortgage rates continue to stay low by historical standards, despite inching slightly higher this week following a positive job report and increasing bond yields, Freddie Mac reports in its weekly mortgage market survey.

With an upbeat employment report for February caused U.S. Treasury bond yields to increase over the week, and mortgage rates followed. Even though the Fed promised to keep the interest rates low with the employment increasing and the promise of a stronger economy interest rates will start increasing and buyers know even a 1% increase can mean hundreds of dollars a  year more.

This is the time if buyers have been sitting on the fence as sales continue to increase, inventory decreasing and interests going up. 

New construction over the last several years has suffered right along with the rest of the nation but it looks like this is starting to turn around. Asheville spring selling season is already heating up for Asheville new homes, with sales activity increasing and some builders slightly increasing home prices.

The lack of new homes as predicted has created a shortage of new Asheville homes and it seems a strong Asheville new home selling season has arrived strongly enough to kick start for the first time since 2005.

Asheville real estate last year started showing a positive turn for Asheville home sales but one of the worst selling years for new home sales. Because of the weak new home sales over the last six years it has created a shortage of homes and with the lenders starting to make it easier to qualify we are starting to see a strong increase in new home sales and resale homes.

The rising cost of new home construction in material it will be hard to build to build a home and have the selling price competitive with a resale. For example a new Asheville home selling for $300,000 most likely you could find a comparable resale for 25-30% less.

Asheville NC real estate over all is seeing a nice increase in home sales new and resale and as real estate listings continue to decline and real estate search increase on our web site is a good indication that we are or have turned the corner.

Asheville Real Estate Agencies are starting to get extremely busy as or season begins and as we see a continued interest in new homes and resale this season promises to be a year to celebrate.

​Asheville Home Search Now

​Waynesville Home Search Now

​Maggie Valley Home Search Now

The government has been very successful depleting its foreclosure inventory in 2011, reducing it by nearly half most by selling bulk bank owned properties to investors for cash.

The result of this from the end of 2010 to 2011, Freddie Mac, Fannie Mae, and the Department of Housing and Urban Development saw nearly a 50% reduction in the number of bank owned properties Here’s a closer look by how much the government enterprises trimmed their foreclosure inventories.

Good news for Asheville home sellers is as the home inventory depletes because of stronger sales and less bank owned homes coming on the market Asheville home prices are stabilizing and in many areas increasing.

It would appear that 2012 will start turning the corner.

Also very encouraging is that Western North Carolina rank 5^th in people moving here. The finding showed that many that would have moved to Florida for example then to Asheville are skipping the move to other states and just coming here.

The Aging Baby Boomers and is significantly impact trends in not only nationally but Asheville Real Estate as well. They are predicting this will have a major impact in nation’s housing market over the next 20 years.

Over the next two decades, the aging baby boomer generation will swell the nation’s senior population by 30 million. That demographic shift will likely help increase the supply of housing, since people over age 65 typically release much more housing than they absorb. 

So I believe the future of real estate will start strengthening and as the past has been a good investment. Many made millions when the real estate market was on top. Investors are seeing the opportunity buying up bank owned properties as fast as they can.

So is it time to jump in and test the waters in Asheville Real Estate?

Today it is such a pleasure to read, watch and listen to positive reports about the economy and the turnaround of real estate. With Asheville’s low mortgage rates and falling home values have brought housing within reach to more families than ever before in my life time. Housing affordability in January reached its highest level since the beginning of tracking over 40 years ago

Because housing inventory levels have declined to a point where conditions are becoming much more balanced in areas like Asheville, Waynesville and Maggie Valley those that have been waiting to make that move into a new home this is a good time before Asheville home price start to increase.

Asheville homes stabilize despite the increase in distressed properties in the market. It seems that Asheville Bank Owned properties no longer are chipping away at overall home prices. This is a big improvement and indicates that distressed properties are not influencing North Carolina home prices. In fact the Western North Carolina real estate report found that Asheville Bank Owned homes dramatically increased in February, but still showed average gains or mostly stable home prices compared to the previous month.

The North Carolina improved job market is helping consumer confidence, and the increase in activity among investors making cash purchases is starting to lever off the playing field between buyers and sellers as we are see prices increasing for Asheville Homes.

Asheville condo housing market continued to show signs of improvement as the desire to live in the downtown are increases.

Asheville apartment and condo sector continues to be a bright spot in the housing market for Asheville Real Estate. Many investors have purchased apartments in Asheville downtown area as rentals.  Many Asheville condos that went vacant during the down trend in real estate are starting to see an excellent increase in sales.

I am finding the search for Asheville NC real estate is on the increase as our web site has picked up in daily numbers for Asheville Home search. Another big search term for Asheville is real estate Asheville has increased in hit averaging 348% over the same time last year.

This is the time if you are thinking about Asheville, Maggie Valley or Waynesville real estate before price start increasing and interest rates follow. A one percent increase in interest rate can make a difference of hundreds of dollars in a monthly payment.

According to a recent survey buyers are not that concerned over Asheville Real Estate and Nationally because of the job market improving the direction of the economy is what is behind Americans feeling more confident about the housing market.

As Asheville home prices start to increase the survey found that a good share of Americans expect home prices to increase over the next several months however half  believe prices will likely stay the same.

With today’s new employment figures reporting over 200,000 jobs being created with will help continue the building of confidence in the consumer.

As Asheville rental price continue to increase because of the demand the survey said the over 60% of renters when they move will most likely buy in the future.

Asheville NC homes for sale are depleting as homes sales increase and with all time low mortgage rates a large percentage says now is a good time to purchase a home. Also a surprising amount of home owners believe this is a good time to sell.

The bottom line is Americans expressed more confidence in the economy, their personal financial future and real estate. 

Other areas within 30 minutes from Asheville are also finding a strong increase in sales. For example Maggie Valley and Waynesville home sales have increased 18% over same time last year. Inventory is depleting and prices are starting to stabilize in some areas.

Also homes with land for sale are starting to see a demand with buyers wanting privacy, perhaps animals and a garden.

Asheville new homes for sale are still slow and I believe will not see much of a turn around until next year.

Those that are looking for mountain homes for sale Maggie Valley seems to be a very popular area along with Waynesville. I am seeing a lot more demand with Maggie Valley and Waynesville home searches.

There is still a large inventory of homes for sale Asheville including Weaverville, Waynesville and Maggie Valley as price are still extremely low however the predictions are that Asheville homes for sales will start stabilizing and in some areas will see price increases.

Asheville housing supply and on a national bases is projected to normalize in two to four years.

Nationally housing affordability has drastically dropped, reaching about 300,000 to 500,000 per year; historically the rate is about 1.25 million.  

Asheville home prices will likely see a 1 to 2% appreciation in 2012. It is also projecting a 1to 2% price appreciation in 2013, increasing 2-3% thereafter.

As Asheville new construction increase but unable to meet demands and Asheville homes for sale inventory decreases home appreciation could increase much faster in popular pockets like Grove Park and Biltmore Park.

There is a big difference in the number of people that can afford a home and not but the gap is closing as lenders are making it easier to qualify. With the interest rate still under 4% and price still low those that can afford a loan are making deal of a life time. Being able to afford an Asheville home much nice than they could in the past is helping Asheville homes sales increase to 2007 levels.

Houses for sale Asheville NC are seeing growth in areas like Maggie Valley, Waynesville, Weaverville and Arden as investors are taking advantage of Asheville home low prices.

Because of the brisk Asheville home sales inventory will drop considerably by midsummer and we will see prices starting to increase.

Asheville distressed homes lost to foreclosure in the last six years, and many of those once home owners are now starting to ask can we buy again?

Asheville former home owners, particularly those who foreclosed or did a short sale due to extenuating circumstances like a job loss or illness, are finding the wait may not be as long as they were once told. They most likely pay a little higher interest rate, but with rates are so low, a higher interest rate of 4 percent is not a big deal. The wait-time varies among lenders and government entities; the Federal Housing Administration says former home owners with a foreclosure must wait three years before they can qualify, while Fannie Mae and Freddie Mac require a seven-year wait following a foreclosure. 

Many Asheville lenders with a short sale or foreclosure, waits can be waived or drastically cut, depending on the borrower’s situation. FHA requires a three-year wait following a short sale, but it may waive that wait if the short sale was due to a job loss. 

Also, for borrowers who can come up with a higher down payment on their next home purchase, they may also not have as long to wait. For example, Fannie Mae will reduce the wait from seven years to two years for borrowers who come with a down payment of 20 percent or more.

So for those that have gone through a foreclosure or short sale may be able to take advantage of current low interest rates now.

The good news for Asheville Home owners is the number of home owners behind on their mortgage payments dropped to the lowest level in three years. This is a good sign that the economy is improving and real estate is starting to improve. With less Asheville bank owned properties on the market price will start stabilizing and sellers will start holding strong on their asking price.

Another strong indication that Carolina real estate real estate recovery is the economic activity appears to be picking up across North Carolina, with fewer people filing first time claims for state jobless benefits and forecasters predicting a bounce in new housing starts by 2013. It would seem the Asheville home market is making a strong come back.

  As Asheville Real Estate Agents are busy with cash Buyers as they are Mopping up Asheville homes and taking advantage of record low home prices continue and Asheville Rental demand are high as investors see the tremendous opportunities in investing in Asheville real estate.  

Over 34% of Asheville home sales in January were paid for with cash and I believe this is a big reason bank owned inventory is depleting so quickly.

Asheville home Buyers that cannot pay cash with the record low interests rates are still very much I the driver’s seat able to take advantage of the low prices and interest rates.

I believe a lot of people have decided they would rather invest in Asheville real estate than have their money in a deposit account in the bank.

As foreclosures has been trending down across the country, there is a noticeable difference in foreclosure inventories in Asheville NC real estate and investors are trying to be selective but it is getting harder everyday to have multiple choices.

If you are thinking about buying a bank owned property in Asheville or North Carolina and unable to be a cash buyer you must already have a lender loan commitment in hand when making an offer. There are several good lenders I would be more than happy to recommend when you are ready. But make sure before you start looking at Asheville homes contact a lender.

Asheville home search in the MLS is the best way to keep track of new distressed home coming on the market.

One of the services I provide for my Clients is an automatic Asheville Bank Owned search daily that is emailed to you overnight so you do not miss the good ones.

Just go to: Back Owned Search

As real estate in Asheville NC home sales continues to increase more Banks are willing to agree to a sale at a lower cost than a home owner’s mortgage balance in order to avoid having the property fall into foreclosure, which can be more costly for a lender. 

Asheville real estate listings in the fourth quarter of 2011, there rise of 15 % compared to a year prior. In all, Asheville short sales made up 10% of all home sales sold in the fourth quarter.

However Asheville real estate bank-owned homes dropped 12% year-over-year, making up 13% of all home sales during the fourth quarter.

The Asheville short sale home in the fourth quarter sold for $184,200 and the average Asheville foreclosure, on the other hand, sold for $149,600. 

We are finding that Asheville NC Banks are now more willing to do short sales and that trend will likely show up in more local markets in 2012 as lenders recognize short sales as a better option for many of their non-performing loans.

However President Obama has passed a new program called the Home Affordable Refinance Plan (HARP) to allow North Carolina residents to refinance their homes at all time low rates and reduce the amount homeowners owe as much as $12,000 a year. This could slow the Short Sale down as Asheville Home Owners will be able to make their home more affordable.

We have found one trick for a lower refinance rate is having a decent credit score. Your credit score is not necessary or needed for the Home Affordable Plan, but if it can greatly enhance your rate, and even give the opportunity to take more cash out of the equity in your home.

As Asheville NC Mountain real estate continues to meet 2007 volume in number of sales however dollar volume is down 38% over 2006 when Asheville Real Estate peaked.

Asheville homes sellers are willing to do more today to catch the eye of a buyer by price their homes competitively as well as change the appearance of their home in order to lure buyers.

It seems there are more buyers are ready to get off the fence and are buying properties as Asheville real estate inventory declines.

Sellers that have had their home on the market now for several years are more willing to remove clutter, make cosmetic updates, such as minor repairs including depersonalize the home and stage the home to better their chances of getting it sold.

Over the last several months I have seen a strong increase in Asheville home search on our web site indicating a strong interest in from prospective buyers.

With a new attitude from the sellers and a strong buying interest this season promises to be very good.

As real estate for sale in Asheville increase so does the inventory as the number of home for sale is the lowest in the last 4 years, indicating that predictions may be on schedule as price could start stabilizing and even increase by midsummer.

As Warren Buffett said purchasing a home with ultra-low mortgage rates and holding it for the long-term has become a better investment than stocks right now.

real estate in asheville

Well here are some facts I will not be reading to my Sweetie.

Women managing their social media pages more responsibly and more securely than we do.

Also Men tend to be freer with their pages more open to view by anyone. However women tend to restrict it more. We seem to select public settings for our social network profiles but women are more selective. Most women only allow friends to view their Facebook, LinkedIn, or MySpace pages without any restrictions, we seem to allow anyone look at our profiles. 

Boy can I relate to this! Women tend to be more selective about what they post. We seem to post something on our social network pages that we later have regretted.

So does this mean once again that our spouses are right again?

Let’s keep this quite OK?

Home prices for sale have increased 3% over last year nationally and will continue to increase as inventory declines.

Florida home sales play a big part in Asheville home sales. In fact 60% of all homes sold in Asheville, Weaverville, Maggie Valley and Waynesville are to Buyers from Florida.

West Palm Beach for example homes for sale is down 18%, Miami 32.75%, Fort Myers 21% and Punta Gorda down 21%. So as Florida’s home sales increase so will Asheville home sales.

With the low interest rates and home prices housing affordability rose to a record 20 year high during the fourth quarter of 2011. This is a good indication that Asheville home sales will continue to be strong this year and with a 30 fixed mortgage still under 4% will keep the affordability strongly in favor for the buyer.

Investors have been taking advantage of the bank owned and low prices but know there are a new investor out there you and me. With rental property in demand for example Asheville rental vacancy rate is below 5% the small scale investors  is stepping up to the plate. Their strategy is to buy homes at rock-bottom prices, rent the properties out to cover all of the costs of home ownership for several years, and then one day sell the homes when prices recover. 

We also have that home owner that wants that mountain getaway are taking advantage of the low prices and buying Asheville mountain cabins and placing them in a rental program. Allowing them to enjoy season usage and offsetting the cost with rental income.

According to a report released last week 2012 will be the year of turnaround for the Asheville Real Estate Market. One major reason will be because of loosening of credit.

This alone can have a major effect on housing sales.

With the loosening of mortgage requirements could have a major impact on the consumer buying power to own a home.

On a national note analytics firm notes the average credit score required to attain a mortgage loan is 700 this may loosen up. Additionally, lenders are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of 3.2 times borrower earnings.

Banks are also loosening loan to value ratios, this is a clear sign of an improvement in mortgage credit conditions.

The combination of depleting housing inventory and lack of bank owned homes on the market prices will start stabilizing this summer.

The home buyer that has been sitting on the fence is starting to jump off making the last half of 2011 home sales equivalent to 2007 sales. I am seeing the Asheville home search on www.MillsRealEstateTeam.com web site triple in viewers over that last six months indicating a strong interest in Asheville home buyers.

Sellers will start seeing home prices stabilizing midsummer and by spring in some areas in Asheville like Grove Park as there are more home sales than inventory. This is allowing Grove Park home prices to even increase.

Other areas to watch in Asheville home sales is Biltmore Park, Arden, Asheville downtown condo sales and Haywood County that include Maggie Valley and Waynesville.

Buyers beware Sellers will start demanding more for their homes by mid summer as homes sales become much stronger. Remember home sales in many areas are already equivalent to 2007 and the 2006 was the peak so it will not take much to see a strong finish in 2012.