The Ritz outside Atlanta was fully booked. Asheville the other day was bustling. The Sonic in Franklin, yes Sonic, was hoppin' last week. But here, in the High Country, times are tough. Construction jobs are way down, no one is building, or remodeling, The real estate market, as one friend gestured the other day, is a big thumbs down. Worst of all, locals are not spending, (what I believe is due to fear). Bottom line, the money is out there, just not everywhere.
The funny thing is, or not so funny thing depending on which side of the market your on. is that business was ridiculously slow in South Florida, for what seemed to be forever. The past six months, however, have been relatively busy, which a hiatus here or there. But here in the High Country of North Carolina, things are dreadfully slow.
Home prices, have not dropped enough, and there doesn't seem to be a tremendous amount of foreclosures to warrant any signs of recovery. 399k for a 3/2 with a view is still way too high a price for anyone to pay. For some reason. the prices of these second homes have not dropped far enough. One of my theories is that most of the people who bought second homes, could afford a second home. They can't however, afford a foreclosure on their credit report so they are keeping the houses at higher prices because they can afford not to sell.
The reason doesn't really matter, the fact is, is that there is not a lot of work anymore, and people don't have the money like before to spend. Now, I've heard, in the just the last couple of weeks, things have finally have picked up. The Flor-Idiots are in town and everyone is snapping up some of the extra business. I know for sure that we've contributed to the local economy. Hopefully, some of our renewed South Florida "Foreclosure" market will have a residual effect up here in a place that can really use it.
My point: South Florida is on the right side of the real estate market. We, at least, have a market, and people are busy closing transactions. Just look at the last six months pending and closed sales stats. The good news: It's going to continue for a while. The bad news: eventually we will clean house and there will be no more "Foreclosure" market. That's when we'll really be tested.
By the way, we are having a great time on vacation in N.C. Thanks to the bustling real estate South Florida real estate market, of course. My new Netbook has been a faithfull companion, giving me her all when I've need her the most. If you can pick one up, I highly recommend it. It is so choice! Oh by the way, I am slowly, but surely becoming quite the BBQ maven.
Here are my Top 5 Favorite BBQ places in the High Country:
1.) Ridgewood, Johnson City, TN
2.) 12 Bones - Asheville, NC
3.) Old Hampton Store - Linville, NC
4.) Phil's BBQ - Black Mountain, NC
5.) Banner Elk Cafe - Forget the BBQ and order the burger. The best burger in Banner Elk and Beyond!
There were so many other great points of interest. Please feel free to contact me about some of our favorite things to do while visiting. Also, don't hesitate to talk shop. If you are interested in knowing more about local real estate in the High Country, allow me to refer you to local professionals who have extensive knowledge of the area and market.
Well that's it for now. Sorry for the delay, I've tried for a long time to post something. There was a lot to say and it took a couple of tries to get it right. Plus, I've been kinda of busy having a good time!
Thanks for reading,
Aaron