Are you ready to take advantage of the buyers market in the mountains of western North Carolina and buy the perfect second home or retirement home for sale in Highlands, Cashiers or Lake Glenville? Or is now the time to gamble, roll the dice and ‘let it ride’?
Almost everyone enjoys going to Las Vegas, even if you are not much of a gambler. It’s easy to see top entertainers, enjoy great revues, indulge in wonderful food and Las Vegas is even a great place for golf (in the winter and spring when the temperatures are cooler). That’s the way I enjoy “The Entertainment Capital of the World”, because I would rather see the artists perform and spend time laughing with family and friends, than lose my hard earned cash at the poker tables.
It would be lovely to have a crystal ball, but nobody knows the exact date and time the national real estate market will fully rebound. Nobody knows the exact date and time when the house you buy in Highlands or Cashiers today will be worth twice as much as you paid. Nobody knows the exact date and time when Highlands or Cashiers foreclosures will again be something that doesn’t happen here.
You may think I am crazy suggesting that it is a great time to buy, but think about what we know and what we don’t know. We do know that waiting to buy in the mountains and gambling on both sales prices and interest rates is risky, and can end up costing you more money. Home prices in Highlands and Cashiers are not likely to fall any lower. The interest rates are at an all time low, under 5.5 %, but we don’t know how long they will stay there. As inventories decrease coupled with an increase in interest rates, you may find that you will be spending more for housing by not taking advantage of the window of opportunity that is already starting to close.
In the past sellers market, the demand for homes in Highlands and Cashiers was so great that many buyers found that they were competing with other buyers for the best home available. Often there were multiple offers on properties and selling prices often exceeded list prices.
Today, buyers should concentrate on finding the best home in the best neighborhood. Right now, there are a lot more choices to look at in our market. If you buy that second or first home here in the mountains, chances are your values will not drop, but increase down the road. This is historically true for the second home industry. When consumer confidence rises, so do our prices. It would be a much better investment than the stock market or a 401K.
If I would have bought Real Estate with my 401K money instead of investing it, I would have tripled it within the past 10 years, instead of losing half of it, and waiting until the market comes back.
Buyers right now have the best hand when it comes to buying real estate in Highlands and Cashiers:
- Ace – Lower interest rates (the lowest we’ve seen in years)
- King – Decreased competition among other buyers
- Queen – Sellers (and banks) have adjusted prices downward
- Jack – Power to negotiate favorable terms
- 10 – Seller concessions in the form of closing costs or personal property included
There is a great article in the New York Times that discusses why now is a great time to buy. So what are you waiting for? Give us a call 866-526-3558 or email us at Michaud@dnet.net. I’m sure we could find you something that you would love and enjoy!