Second Home Investment?

Real Estate

Second Home Investment?
Is it time to invest in real estate in today’s economy? Well let’s look at a couple things, how are your stocks doing?
OK, sorry to bring that up, as the economy is strong, interest rates are still low but have seen some increases, unemployment is low and real estate is up 6.7% over last year.
Based on your location or areas you would like to invest in can fluctuate for example Maggie Valley and Waynesville NC while home sale slowed some compared to 2017 the inventory was low, so home value has increased nicely.
Two years ago, the average home price in Maggie Valley and Waynesville was $176,500 and now $215,000 a 18% increase following a year later with 6.7%.
Many are predicting that the real estate market will slow some in 2019 however with the massive growth of the Asheville NC market Maggie Valley, Canton, Clyde and Waynesville market will catch the overflow as it as over the last several years. I predict the Haywood County NC will continue to see a healthy increase in the economy and real estate.
Home sale continue at a brisk pace and it started fast even during the winter of this year. The Waynesville, Maggie Valley seasonal rentals are full through the end of the year indicating the holiday season will be strong as well. Continuing to deplete the inventory and continuing to increase home values.
So, is it a good to invest in real estate? If you are looking for a solid area Western North Carolina is a place you may want to look at. I would suggest regardless of the area you contact an experience real estate agent in that area and let them provide you with market information and history. This will help guide you in the right direction.
Happy Holidays,
George Mills
Associate Broker
Keller Williams Great Smokies
Direct: 828 400-8647