Cashiers Real Estate Market Trends – North Carolina

News for Cashiers, NC - March 10th, 2011 12:17pm
Residential Home sales in the Cashiers, Glenville, Toxaway, Sapphire IE Highlands Cashiers Plateau have improved over last two years with a 30% increase in closed sales.

News for Cashiers, NC - Friday April 9th, 2010 5:35pm
U.S. - Pending home sales show healthy gain, hint at spring surge
WASHINGTON - April 05, 2010 - Pending home sales rose in February, potentially signaling a second surge of home sales in response to the homebuyer tax credit, according to the National Association of Realtors® (NAR).

The Pending Home Sales Index (PHSI) a forward-looking indicator based on contracts signed in February, rose 8.2 percent to 97.6 from a downwardly revised 90.2 in January. The Index is 17.3 percent above February 2009 when it was 83.2. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, says the improvement is another hopeful sign. "The rise in buyer contact activity may signal the early stages of a second surge of home sales this spring. The healthy gain hints home prices are continuing to flatten," he says. "We need a second surge to meaningfully draw down inventory and definitively stabilize home values."

The PHSI in the Northeast rose 9.0 percent to 77.7 in February and is 18.9 percent higher than February 2009. In the Midwest, the index jumped 21.8 percent to 97.9 and is 18.7 percent above a year ago.Pending home sales in the South increased 9.2 percent to an index of 107.0, and the index is 17.5 percent higher than February 2009. In the West, the index fell 4.8 percent to 98.0 but is 14.6 percent above a year ago.

"Anecdotally, we're hearing about a rise of activity in recent weeks with ongoing reports of multiple offers in more markets, so the March data could demonstrate additional improvement from buyers responding to the tax credit," Yun says.

© 2010 Florida Realtors®
... [ + Read Full Article ]

News for Cashiers, NC - Monday March 8th, 2010 2:55pm
Market Conditions for Cashiers, North Carolina

Reported by T. C. Lewis & Co. Properties, Realtors/Contractors

Updated February 24, 2010.

The real estate in Cashiers, as in many areas of the Appalachian Region of Western North Carolina, has been on a steady rise for many years, and nothing seems to be able to derail it. For investors and people looking for second (third, fourth) homes, this place is a gold mine. You can always expect a return on your investment in the coming years. And, don't be surprised if you see a movie star or the head of a Fortune 500 company in any of the restaurants in Casheirs, Highlands, or nearby Sylva.

ZIP Code: 28717

Approximate Location Boundaries: Southern Jackson County in North Carolina

Location Characteristics: Combine the drastic granite dropoffs of the Blue Ridge escarpment with more than 80 inches of rain a year and something dramatic is bound to happen. Around the town of Cashiers (pronounced CASH-ers), perched at 3,500 feet on the Eastern Continental Divide, the jackpot shows up in the form of waterfalls—everything from tiny cliffside seeps to 400-foot-plus cataracts that roar into deep gorges. The downtown is little more than a crossroads, the junction of U.S. 64 and North Carolina 107, and a mile or so radius of antique shops, high-end restaurants, and second-home clusters discreetly tucked into the woods. The thousand-foot cliffs of Whiteside Mountain provide the kind of hairy, multipitch, huge-exposure climbs that would almost make you swear someone had trucked the place out from Yosemite.

If you're ready to get away from commercialized areas, a town in the Blue Ridge Mountains "finger" of the Appalachians, Cashiers is your place. There are no chain restaurants or unsightly billboards and enormous signs. Cashiers is protecting the natural beauty and integrity of the area, and it has been a secret, second-home destination for the rich and famous for many years. The extremely private, but convenient location to nearby airports and major interstates to metropolitan areas (Asheville, Atlanta, Greeneville, etc.) make it a "no brainer" destination.


... [ + Read Full Article ]