Monday, September 19, 2022 / by Amy Brown
What you need to know to buy a home in a HOT Asheville real estate market
Low inventory...high prices...days on market until under contract, only 2
It's enough to frustrate anyone!
What can you do to make sure that when that ideal home comes on the market that you win the deal?
1. FINANCING, Get your financing set and ready to go! Have your preapproval letter or proof of funds statement in hand. They are required to accompany any and all offers.
2. And this is the biggest one! BALANCE EXPECTATIONS...No home is going to be perfect unless you build one specifically to your tastes and even then, you will move in and wish that you had done some things differently. Sources like ashevilleareahomefinder, realtor, and Zillow are your best resource to figure out what are "must haves" and what are "would like to have". Compromises will have to be made! Make sure that you understand that what you are looking for (view, square footage, topography, neighborhood, etc.) may not jive with your price point. THE AVERAGE HOME IN THE ASHEVILLE AREA IS LISTED FOR $647,000!!! That equals no view, average square footage of 1700 sf, small lot or unusable lot (this is the mountains), and will most likely require some type of remodeling. Please make sure that what you are asking for equates to what the market is able to provide!
3. LOCATION, When you see a home that you like, the first thing that you should do is put the address into google maps. Location in real estate is everything! The house may look beautiful and may be in your budget but if it is 45 minutes away from the city, that may not be for you. There is always a reason if something seems too good to be true.
4. BE THE FIRST ONE IN THE DOOR, This where my newsletters come in. I send you listings that are priced well for the area every morning, right to your inbox, that are COMING SOON. I cannot stress enough how important it is to get on the showing schedule first, whether it's for me to do a virtual video tour for you or an in person showing. Many times showings will be booked out for days within a matter of hours. Being first in the door and first to the negotiating table is key to obtaining the home that you love.
5. EDUCATE YOURSELF ON THE REAL ESTATE PROCESS IN NORTH CAROLINA, Real estate law and processes are STATE SPECIFIC! The process in NC is not the same as FL, NY, CA...I am going to attach a very helpful handout on NC real estate deposits below. Please review so that you understand what type of money you are looking at risking when you go under contract here. Also, USE ME! You work with a real estate professional to guide you through the law and transaction process in a safe, well informed manner. It is my job to ensure that you are operating within your comfort level and that you have all of the knowledge to make an informed and educated decision. I am available to you anytime! Call me!
It's enough to frustrate anyone!
What can you do to make sure that when that ideal home comes on the market that you win the deal?
1. FINANCING, Get your financing set and ready to go! Have your preapproval letter or proof of funds statement in hand. They are required to accompany any and all offers.
2. And this is the biggest one! BALANCE EXPECTATIONS...No home is going to be perfect unless you build one specifically to your tastes and even then, you will move in and wish that you had done some things differently. Sources like ashevilleareahomefinder, realtor, and Zillow are your best resource to figure out what are "must haves" and what are "would like to have". Compromises will have to be made! Make sure that you understand that what you are looking for (view, square footage, topography, neighborhood, etc.) may not jive with your price point. THE AVERAGE HOME IN THE ASHEVILLE AREA IS LISTED FOR $647,000!!! That equals no view, average square footage of 1700 sf, small lot or unusable lot (this is the mountains), and will most likely require some type of remodeling. Please make sure that what you are asking for equates to what the market is able to provide!
3. LOCATION, When you see a home that you like, the first thing that you should do is put the address into google maps. Location in real estate is everything! The house may look beautiful and may be in your budget but if it is 45 minutes away from the city, that may not be for you. There is always a reason if something seems too good to be true.
4. BE THE FIRST ONE IN THE DOOR, This where my newsletters come in. I send you listings that are priced well for the area every morning, right to your inbox, that are COMING SOON. I cannot stress enough how important it is to get on the showing schedule first, whether it's for me to do a virtual video tour for you or an in person showing. Many times showings will be booked out for days within a matter of hours. Being first in the door and first to the negotiating table is key to obtaining the home that you love.
5. EDUCATE YOURSELF ON THE REAL ESTATE PROCESS IN NORTH CAROLINA, Real estate law and processes are STATE SPECIFIC! The process in NC is not the same as FL, NY, CA...I am going to attach a very helpful handout on NC real estate deposits below. Please review so that you understand what type of money you are looking at risking when you go under contract here. Also, USE ME! You work with a real estate professional to guide you through the law and transaction process in a safe, well informed manner. It is my job to ensure that you are operating within your comfort level and that you have all of the knowledge to make an informed and educated decision. I am available to you anytime! Call me!
