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Winter 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Andrews. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 828-360-6466
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| Average Home Price | $150,000 - View Graph Trend |
| Average Price Compared to Last Year | Up 5-10% |
| Average Time on Market | More than 120 days |
| Best Selling Price Range | $100,000 - $149,000 |
| Worst Selling Price Range | $300,000 - $349,000 |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | No Change |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Andrews is | Increasing |
| Seller Activity for the past 90 days in Andrews is? | No Change |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | There seems to be multiple offers when the seller is a bank, due to the length of time it takes for the bank to respond and the idea that banks are ripe for any 'Low Ball' offer. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 5-10% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Qualified buyers in the hands of a good mortgage company can expect to close in less than 30 days. |
| Housing Inventory | Good supply - Some Prices |
| Inventory Comments | New construction is decreasing and existing homes are increasing |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Lower prices with good selection and competitive interest rates creates a perfect time to buy in Andrews! |
| Nearest Metro Area | Asheville, North Carolina |
| Housing Hot Spots | Most cities within the Cherokee County area are considered 'Housing Hotspots' There has been an increase in interest in Grandview Falls, Bear Paw Views and the Hiwassee Dam area and rural tracts that boarder US Forest Service land. Robbinsville area on the upswing. |
| Average Sold Price | $150,000 - View Graph Trend |
Andrews Local News
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
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Mortgage Rates
– Feb 13th, 2012 –
---------------------------------
30 yr. fixed rate: 3.89%---------------------------------
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.60%
15 yr. jumbo rate: 3.96%
Home Values
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