URGENT NOTICE TO SELLERS- Introducing an exclusive offer from Beverly Hanks & Associates, the JOB LOSS PROTECTION PROGRAM. Here's how it works; This is a program that is available by the Rainy Day Foundation and will cover the buyer after closing for two years providing a monthly mortgage payment up to $1,800 for six months should the buyer suffer job loss. This program is a $500 seller paid incentive at closing and has proven to be very successful in building further confidence for buyers. This program is only offered through Beverly Hanks & Associates. If you are planing to sale your home, please call us for complete information on the Job Loss Protection Program today at 828-329-9777.
Fox Run Preserve-Hendersonville's newest gated community with new market adjusted pricing. Click HERE to view the slide show. Call to receive information or to tour Fox Run Preserve today! 828-329-9777
Ridgeview at Sweetwater Hills, Hendersonville - The 2 story at 345 Ridgeview Hill Drive has been sold. Don't worry.....we have others. Call... Call Jennifer or I today with your new home criteria and we will find it for you!. DO YOU HAVE A HOME TO SALE? Call us for the best service in the area. 828-329-9777.
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Crystal Heights, Hendersonville - Announcing a price reduction on 178 Crystal Heights Drive, a 2,048 sq. ft., 2 bath, 3 bdrm single story "contemporary". Now 
MLS® 443960 - NEW PRICE $329,000.
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Claremont, Flat Rock - We invite everyone to visit our open house at 219 Claremont Drive on November 1 from 2:00 PM to 4:00 PM.
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Brooke Hills, Etowah - The single story at 25 Arnie Drive has been sold.
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Pricing a Property Properly Part 3
Today is the third of a three day review of the components to pricing a property properly in today’s market. The three points covered:
Wednesday: The Competitive Market Analysis (CMA)
Yesterday: Absorption Rates
Today: Accumulation Rates
The accumulation rate is a look into the future to try to determine what housing inventory will look like in the next six months. As with absorption rates, if demand remains relatively constant put supply builds, there would be downward pressure on housing prices.
There are two major areas of concern:
1. In a survey by Zillow.com, 12% of homeowners said the were ‘very likely’ to put their house up for sale if they saw the market starting to improve. That would amount to about 7 million homes coming to the market!
2. Experts estimate that the banks are currently sitting on approximately 750,000 foreclosed homes that will be hitting the market over the next few months.
Even if both numbers turn out to be a fraction of current estimates, there will be a ‘rush’ of inventory comning to the market between now and the spring. That increase in ventory will prevent prices from rising.
Pricing a Property Properly Part 2
Today is the second of a three day review of the components to pricing a property properly in today’s market. The three points covered:
Yesterday: The Competitive Market Analysis (CMA)
Today: Absorption Rates
Tomorrow: Accumulation Rates
Yesterday, we discussed how a CMA looks back over the last six months of activity to try and establish today’s value. Today, we will look at ‘absorption rate’ which is the analysis of current data to determine today’s value. To determine absorption rate requires a simple calculation. Take the number of houses currently available for sale and divide that by the number of homes sold last month. For example: If there are 100 houses for sale and 10 homes sold last month, your absorption rate would be 10 months. If there are 100 houses for sale and 20 homes sold last month, your absorption rate would be 5 months.
Once you have the months absorption rate, there is a guideline every real estate agent should follow. See below:
1-2 months will create double digit APPRECIATION
3-4 months will create single digit APPRECIATION
5-6 months is a normal market (time to get out the CMAs)
7-8 months will create single digit DEPRECIATION
9+ months will create double digit DEPRECIATION
Again, this isn’t a steadfast rule but a great guideline. Tomorrow, we will look into the future and try to establish an ‘accumulation rate’.
Social networking sites like Facebook, MySpace, Active Rain, Twiiter, etc. has brought a new wave of innovative marketing reaching more people in a much faster speed than news print ever did. Take a look at the statistics on this video
Socialnomics . If you are ready for techno savy marketing for your property, call us today. 828-329-9777.
Pricing a Property Properly Part 1
Today, will be the beginning of a three day review of the components to pricing a property properly in today’s market. The three points covered will be:
Today: The Competitive Market Analysis (CMA)
Tomorrow: Absorption Rates
Friday: Accumulation Rates
The CMA is an interesting instrument in today’s market. It was invented to show the gradual movement of prices by reviewing the sales of like homes over the previous six months, like homes under contract and the homes currently on the market which could be seen as competition. The assumption (and a pretty good one for over 200 years) was that home prices would not dramatically move in either direction. Therefore, what has sold recently and what was currently competition were good indicators of future prices.
There was no need to look at the current environment or future changes because everything was based on past housing performance. In our current housing environment, the CMA is worth just about what we charge for it – nothing. Now, I realize that can be seen as a bold and controversial statement. But, I believe it to be true. We must be like any other business and use the theory of ’supply & demand’ to determine whether prices will rise or fall instead of just looking at those that sold and are on the market.
Tomorrow, we will cover ‘absorption rates’ and how to use them to price a property.
Claremont, Flat Rock - Announcing a price reduction on 219 Claremont Drive, a 2,767 sq. ft., 3 bath, 3 bdrm single story "Brick". Now MLS® $399,000 - New Price.
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Holly Springs Place, Hendersonville - The single story at 295 Holly Haven Court has been sold.
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New Construction Incredibly Priced!
• 2,048 sq. ft., 2 bath, 3 bdrm single story "contemporary" - MLS® $329,000 - Foreclosure Save $$$$
Crystal Heights, Hendersonville - FORECLOSURE. Sold "AS IS", "WHERE IS", Seller makes NO REPRESENTATIONS, Special Warranty Deed. Here’s a desirable new home in Crystal Heights Subdivision now available at an incredible price. This well constructed home incorporates a 3 bedroom split floor plan with spacious family area open to the kitchen breakfast bar and breakfast nook, formal dinning room for the special occasions and guest, 9 ft ceilings with vaulted areas in the family area, kitchen & master bedroom, beautiful finished oak hardwood floors, granite counter tops and custom Knotty Alder kitchen cabinets, spacious attached 2 car garage with one step into living area with a mudroom/laundry room entrance that is large, screened porch and spacious back deck for privacy and entertaining, gorgeous lake view from the covered front rocking chair porch. Increase your homes square footage in the pre-plumbed for one bath unfinished basement. Homesite tastefully landscaped.
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1 Owner, Well Maintained
• 2,767 sq. ft., 3 bath, 3 bdrm single story "Brick" - MLS® $419,000 - Historic Flat Rock
Claremont, Flat Rock - Warm, wonderful, inviting home located in much desired Claremont in the heart of historic Flat Rock. Open kitchen/family space featuring gas fireplace, vaulted beam ceiling windows floor to ceiling to bring the outdoors in, formal dining room, living room, master bedroom with spacious master bath and jet tub and access to outside deck, unfinished basement with large RV garage, workshop, plumbed for additional bath, plenty of windows, walkout and potential living space if finished. Manicured lawn with lush landscaping provides the natural setting for this 2.2 acre private home site. Outside deck area comes with seclusion and privacy for total outdoor enjoyment.
New Roof and Radon System August 2009. All inspections and repairs complete. AHS Home Warranty and Mortgage Protection Program available and paid at closing by the seller.
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Time is quickly running out for first time home buyers and the $8,000 tax credit. Please call Sonny Iler at Beverly Hnaks & Associates today for details 828-329-9777.