Home values up 35% from 2013 (AVL); taxes could increase

The last countywide appraisal was done in 2013, when the market had bottomed out but stabilized, according to Keith Miller, real estate manager at the Buncombe County Real Estate Assessment Office. Miller said actual property taxes and the bills don’t go out until June and are not calculated yet. But he said Asheville homeowners will likely see their property taxes go up, although it’s not clear by how much.

Miller said the county tax rate is being adjusted, which will prevent drastic increases.

“I think some will have sticker shock,” Miller said. “I think many of our citizens don’t keep up with the real estate market.”

The office has released maps that indicate specific neighborhoods have seen significant increases in home values from 2013. Montford home values on average have risen 38 percent, while home values in North and West Asheville have had an average increase of 40 percent.

Oakley has posted increases of 31 percent. And a pocket of downtown Asheville has seen condo sale prices rise by 40 percent.

Alternatively, some areas in the county could see property taxes go down because the overall tax rate will be adjusted countywide for property owners. Fairview homeowners have seen home prices rise by 15 percent, but Sandy Mush homes have increased overall by 3 percent.

Jeff Greiner has owned a home in South Asheville for more than 15 years. He’s using equity in his home for his business.

“I certainly have seen our property value go up in a recent appraisal that we had on our property,” Greiner said.

“It’s inevitable that our taxes our going to go up,” said Terry Tincher, real estate manager at Sotheby’s in Biltmore Village. But Tincher hopes property taxes won’t increase so much that it discourages buyers.

“A lot of people coming into this area, say ‘I’m coming from New Jersey and I want to come into the Asheville market because I don’t want to pay those rates,’” Tincher said.

Miller said the new interactive map goes live online on Thursday. The site will show parcels and recent sales of homes and lots and commercial properties. Home appraisals will go out next week in the mail. Tax bills will go out this June. Homeowners are welcome to appeal tax bills but must present convincing evidence to show the value is incorrect. The website will also have information on the appraisal process.

Property Appraisal Information:

  • Home Appraisal website (goes live Thursday 1/26/17)
  • Buncombe County Real Estate Office: 828-250-4940
  • Address: 94 Cox Avenue Downtown walk-in customers welcome (park in lot across the street)

via http://wlos.com/news/local/asheville-home-values-up-35-from-2013-taxes-could-increase by Kimberly King Wednesday, January 25th 2017

Continue reading...

Rental unit supply increases, easing Asheville-area housing crisis

Finding a place to live in Buncombe County has gotten slightly easier in the past two years as a result of some 1,500 new rental units coming available. But monthly rents continue to rise, despite these new residences and the promise of thousands more currently under construction.

A growing vacancy rate highlights, one expert notes, the possibility of the Asheville housing market becoming saturated with available units.

Those are some of the findings of a report conducted by Bowen National Research, released by Asheville city officials at the end of December.

The report “makes clear that new affordable housing remains a dire need in Asheville and Buncombe County,” said Jeff Staudinger, Asheville assistant director of community and economic development. “It also provides evidence that, despite a small increase in the availability of market-rate apartments, the strong demand continues to push rents higher,” Staudinger said in an email.

The report’s conclusions roughly tracked third-quarter Asheville metro area data released earlier by two other real estate research firms.

Two years ago, Bowen, an Ohio-based real estate market consulting firm, pegged the rental vacancy rates for Asheville and Buncombe County, respectively, at less than 1 percent.

The new Bowen assessment found the county rental vacancy rate had risen to 2.7 percent, or 337 units in October and November of this year, from 99 during the same period in 2014.

Those figures include market-rate housing and “affordable rentals” such as tax-credit and government-subsidized housing.

The occupancy rate in the latter category remained about 100 percent, Bowen researchers concluded. But the market-rate component eased a bit to 96.4 percent this year, down from from 98.8 percent in 2014.

Both figures are above the national average of 95.1 percent, wrote Patrick Bowen, the firm’s president and report’s chief author in a Dec. 20 letter to Staudinger.

Apples to apples?

“Healthy and well-balanced rental housing markets have overall occupancy levels of around 95 percent,” Bowen wrote.

Rental-unit data from Reis, a New York-based company, paint a rosier picture for the Asheville metro area. The federally designated metro area, which comprises Buncombe, Haywood, Henderson and Madison counties, shows a 6.8 percent vacancy rate during this year’s second and third quarters and 7 percent for 2016’s first three quarters combined.

However, Axiometrics of Dallas reports lower metro vacancy rates during this year’s first three quarters. According to Axiometrics, the rate dropped to 4.1 percent in the third quarter from 4.5 percent in the second. It stood at 4.8 percent during the first. The company’s report did not provide a percentage for 2016’s first three quarters combined.

Bowen researchers surveyed 105 multifamily rental properties to produce its report.

City officials paid Bowen $4,500 for the new report and $29,750 for the 2014 assessment, which examined Buncombe, Haywood, Henderson and Madison counties.

No date had been set, as of Dec. 28, for Asheville City Council to discuss the findings of the new Bowen report, Staudinger said. Although the city’s Housing and Community Development committee is scheduled to review the updated data on Jan. 17. Asheville city staff will prepare a report for that review, he said.

An influx of new rental-units did not prevent rents from increasing, the Bowen survey found. But Bowen emphasized in a phone interview last week that this year’s large increase in median asking-rents in some categories occurred due to new upscale rental units that did not exist in 2014.

“So it is not an apples-to-apples comparison,” Bowen said.

Effective rental rates include any discounts or concessions landlords provide tenants. Asking-rental rates do not.

Median asking-rents in market-rate units, regardless of total number of bathrooms were, according to the Bowen report were:

Studios

  • 2016: $875
  • 2014: $667

One bedroom

  • 2016: $930
  • 2014: $830

Two bedrooms

  • 2016: $1,061
  • 2014: $916

Three bedrooms

  • 2016: $1,127
  • 2014: $1,021

Slowing the climb

“Market-rate rents have increased at an annual rate of 4.4 percent over the past year, while tax-credit rents have increased at 0.9 percent during this time,” Bowen wrote.

The national rate of increase during that period was 3 percent, he wrote.

Asheville’s higher rate of increase indicates that “demand for market-rate rental housing remains strong despite the large amount of new inventory added to the market during the past two years,” Bowen wrote.

The report also found that county renters “will likely live in lower quality product as long as rents are affordable.” Higher-quality units had higher vacancy rates than lower-quality units, according to Bowen.

Metro asking monthly rental-rate increases dipped to 0.5 percent during this year’s third quarter, from 2 percent during the second quarter, Reis reported.

The median asking-rent in Buncombe, Haywood, Henderson and Madison counties rose to $1,044 in the third quarter, from $1,016 in the previous quarter, Reis researchers found.

Reis surveyed the units — from studio to multi-bedroom apartments — in 58 multifamily developments to determine its figures.

Using a different methodology, Axiometrics researchers also found rent inflation dropped in this year’s third quarter from the previous quarter.

The effective monthly rent increase fell slightly to 3 percent, from 3.1 percent between the two quarters, Axiometrics found. The metro’s average effective monthly rent climbed to $1,097 during the third quarter, from $1,080 in the second quarter.

Axiometrics did not provide a median figure. Its conclusions are based on a survey of 26 multifamily developments in the metro area.

The Bowen report concludes that 1,563 new rental units were built between January 2015 and October 2016, Bowen said.

Multifamily rental units currently under construction total 2,265, according to the report. Another 2,507 are “planned or proposed.”

The large majority of those units – 3,924, or 82.2 percent – will be market-rate rentals.

Though community leaders have described the lack of affordable housing in the Asheville area as a “crisis” for more than two years, Bowen cautioned that could change, with the Buncombe market becoming “saturated” due to new rental units coming available.

“Such indicators of a saturated market would be an increase in vacancies, with the market occupancy rate dropping below 95 percent,” Bowen wrote in his concluding remarks.

Continue reading...

Asheville gentrification: When Pearson’s Store was lost

Ibuyhomeslogo square v2Cash for House – IBuyHomesLLC.com

She came home for work one day and it was gone. Everything, even the foundation. As if it had never been.

This is how we were told about the destruction of Pearson’s Store, of how the city came that day without warning and demolished the small grocery store that E.W. Pearson had opened in the Burton Street neighborhood in the early 20th century.

While telling us the story, Vivian Conley’s demeanor remained calm and endearing, but she warned us that she couldn’t speak too much about the community’s experiences without the pain and sadness rising.

I am with eight other people on a tour of the Burton Street neighborhood in West Asheville. The tour began at the Burton Street Community Center — once the segregated Burton Street School — made a stop at the site where the store once stood and concluded in the Peace Garden behind the school.

To place the loss of the store into some sort of perspective, we might consider the importance of Pearson to the history of Burton Street, to the history of Asheville as a whole and, in fact, to the history of the nation.

As a young man, E.W. Pearson was a member of the Buffalo Soldiers, the segregated 9th Cavalry unit of the U.S. Army that fought alongside Teddy Roosevelt’s Rough Riders in the Spanish-American War. When he moved to Asheville in 1906, he used his real estate training from his studies in Chicago to create subdivisions for African-Americans in West Asheville, including in 1912 the Burton Street neighborhood.

In 1914, he organized the Buncombe County and District Agricultural Fair, which ran for 33 years, coming to an end the year after his death in 1946. Thousands of people attended this fair, Ms. Conley told us on the tour. Blacks and whites together, she said.

Two years after establishing the fair, he organized the first African-American semi-professional baseball team in Asheville, the Royal Giants. He had loved to watch baseball but wasn’t allowed into whites-only games in the city. In 1921, he helped to found the Blue Ridge Colored Baseball League and became its first president. The league brought together teams from North and South Carolina: Charlotte, Asheville, Spartanburg, Greenville, Gastonia, Concord, Winston-Salem, Rock Hill and Anderson.

Then, in 1933, he established the Asheville branch of the NAACP and became its first president as well. E.W. Pearson, in other words, was a leading force in the community, along with his wife Annis Bradshaw Pearson, who often joined in his efforts and was herself involved in various community and civic organizations.

I think about the store, about this man who ran it, photographed again and again in his three-piece suits and fedoras, the man who was known for the catchy phrases he created for the fair. I think of the store that sat across the street from the Burton Street School and a stone’s throw from the 1890 Wilson Chapel A.M.E. Church, two other monuments to African-American leadership and community.

I imagine the people who entered the store on a daily basis, maybe to buy a cool drink, maybe just to say hello to neighbors, maybe to see what Pearson was up to that morning, this man was who had done so much to create community in his world, the sort of man who had brought fair rides and baseball and penny candy into the neighborhood, even as he addressed the pressing social justice issues of his day.

I think of Pearson’s son, the man known as Professor Bop, who in the early 1950s became the first African-American disc jockey at WLOS Radio and who later turned the store into the Blue Note Casino, a music hall established in that historical moment when rock ‘n’ roll, with its deep and rich African-American roots, was about to explode on the national scene.

And I think of Vivian Conley, an activist who has worked diligently to hold together her neighborhood. I think of the shock she must have felt on that day she returned home from work to find the store not only demolished but missing, carried away by some rapid and unfeeling, if not hostile, force.

The day after our tour, I returned to the vacant lot. I walked up the remnants of a driveway, now broken asphalt that turns to cracked red dirt. Black walnuts litter the dry grass. A hemlock tree covered in vines attempts to survive at the edge of the lot. Off to the left, someone has nailed a sign to an old telephone pole. The sign is faded, horribly weather beaten, but you can still make out the name Jesus.

The calls of the tree frogs compete with traffic noise from the increasingly encroaching highway. The city has chosen an aggressive plan for widening Interstate 26, a plan that will roll over the old Wilson AME church, now known as Community Baptist. It will also take out Ms. Conley’s home. When this plan is implemented, it will be the third time the neighborhood has been devastated by highway construction.

I walked to the back of the lot, where someone had dumped a truckload of trash, including a broken white-picket fence. The day before, when our second tour guide — artist and poet DeWayne Barton — saw the trash, he broke into sad and solemn song. As the rest of us listened and watched, he raised his closed eyes to the heavens and voiced both lament and hope.

As it turned out, that lament represented one of the ways that community lives on in Burton Street. And I don’t mean that the community survives only in the vibration of song and broken dreams. I mean that DeWayne and his wife Safi Mahaba have created a peace garden behind the school, one they made from trash left at the site.

When our group visited, we were viewing the garden in the cool shadows of evening, and some of what makes the garden remarkable was lost on me. I laughed at the paintings of Fat Albert and Fred Sanford. I felt awed by the paintings of Rosa Parks, Martin Luther King, Jr., Gandhi, Harriet Tubman, Malcolm X and other leaders in the civil rights movement.

Still, it wasn’t until I returned the next day, in the harsh afternoon light, that I looked closely at the images, at the meaning being conveyed by this garden. It overwhelms the senses — and the imagination — and the mythological stories wrapped into the history of the United States. It is sophisticated art in the genre of junkyard.

Though the artists’ final message is one of hope, peace and love, not for one moment do they shy away from presenting truths about racism, environmental degradation, the despair of war or the inequities of capitalism. Plastic Santa Clauses are mixed with skulls and gas masks, with crosses and tattered currency.

One particular scene in the garden took my breath away. At the base of a tree, you see a bomb half-buried in the dirt. Leaning dead against the tree is the bloodied representation of the body of an African-American woman dressed in white. Long strands of pearls hang around her neck. An Army helmet lies crooked on her bent head. An African-African child lies under her.

Yet overseeing these scenes are the icons of African-American leadership, those portraits of Tubman and King and Parks that give order to the chaos and violence. They stand in peaceful contrast to the images of Reagan and Nixon scattered among those places of the garden where wasteland is paramount.

As I was leaving, I passed a smaller exhibit. This one warned of the impact of drugs, but it also connected the loss of black life to the process of gentrification. And it’s here that I find myself at a loss, knowing that I am a part of the gentrification process of Asheville — in my case, of the African-American community of Shiloh in South Asheville, a community originally displaced by George Vanderbilt when he built Biltmore Estate.

I don’t yet know how to react to my role in gentrification, but I’m glad I took the Hood Huggers Tour of Burton Street. I hope it will make me a better neighbor.

Dr. Darlene O’Dell has published three books, including the most recent “The Story of the Philadelphia Eleven” (Seabury Books, 2014). She has appeared on NPR and has taught at Clemson University and the College of William and Mary. Contact her at darleneodell@live.com or visit darleneodell.com.

ABOUT HOOD TOURS

Hood Tours offers driving and walking tours of 90 minutes to 2 hours. Learn more at hoodhuggers.com or call 828-275-5305. 

Driving tours run at 1 p.m. most Thursdays and at noon or 3 p.m. Saturdays, or by appointment for groups of 5-9 people. Driving tours typically begin at the Stephens-Lee Recreation Center, 30 George Washington Carver Ave., Asheville. The cost is $25/person.

Walking tours of  the Burton Street Community (West Asheville), East End Valley Street (downtown) and Shiloh (South Asheville) are available for groups of 5-25 people. The cost for a walking tour is $20/person.

Tours incorporate history, art, poetry, music, community green spaces, local voices and more to relate the past, present and future of African-Americans in Asheville. Tours are led by artist, poet and community activist DeWayne Barton.

According to its website, “Hood Tours is a social enterprise that provides opportunities for young people while helping to spark more grassroots economic development in these resilient communities.”

via http://www.citizen-times.com/story/life/2016/11/04/asheville-gentrification-when-pearsons-store-lost/91277946/

Continue reading...

Buncombe, Asheville property transfers for Oct. 24-28

Ibuyhomeslogo square v2The following transfers were filed in the Register of Deeds office Oct. 24-28.

Arden

Lot 58 section 1 St. Andrews Brookwood Community, $265,000, Kimberly M. and Vernon M. Welch III to Courtney Jones and Jefferson Winfield Asher Haynes

Asheville

Units B-3, A-4 and Garage Space at Longchamps Condominiums, $755,000,George W. Krieger to Elizabeth F. Minor

Lot 547 block N Lake View, $541,000, Sallie Trippe (f .k. a. Whalen) and Claude U. Broach Jr. to Sean M. Bailey, Nancy E. Schwartz

16 Tryon St. (Lot 4 and portions of lots 1-2), $291,000, K & D Mountain Rentals LLC to Mary Carlisle Rankin

Lot GIII-10 Laurel Place Cluster Three Garden Homes, $283,500, Nettie J. and Thomas A. Colina to Francine Farthing

22 Stone River Drive (Lot 32 phase 1), $300,000, David Scott and Lissie I. Barnett to Justin and Jessica Hunter

Lot 34 SEC Villages phase II – The Thoms Estate, $578,500, Gated Communities Of Asheville LLC to Roy L. and Pamela V. Moore

Lot 1 Rankin Heights, $141,500, Sandra Lee Scott to McMaster Real Estate Group LLC

Unit 1102 (11B) Club Interest 7, $125,000, Suzanne Rosoff to Summit Hospitality 123 LLC

Lot 4 block 6 Wilshire Park Inc., $40,500, Marc Mullinax, Grace Elizabeth Boyer to Alelsandr and Pamela Isaenko

Lot 19 section 1 Deavermont Park, $85,000, Joseph M. and Teresa B. Bolick to Ashkat Realty LLC

Lot 7 Hudson Hills Subdivision, $161,500, Asheville Area Habitat for Humanity Inc. to Tera Marie Jabs

Lot 20 The Thoms Estate Subdivision phase II, $577,000, Gated Communities of Asheville LLC to Lee M. and Heather L. Aberle

Lot 32 Windy Hill Farms section 1, $195,000, Ameriprise National Trust Bank (Jane A. Snyder Charitable Remainder Unitrust) to Joshua W. and Felicia T. Tomberlin

Lot 7 section 2 Olmstead At Biltmore Park, $1,200,000, Jason E. Bergman, Connie Jo Herbst to The Perry & Fay Liivng Trust

Lot 11 block E Gracelyn, $324,000, Brian E. and Julie S. Merrell to Kate Chappell

17 Azalea Road (Lot 17 block D Rosscraggon), $154,000, John Stevenson to Jonathan Murphrey

Black Mountain

Unit 1009 Laurel Ridge phase II, $37,000, Allison J. Wall to Allan Franklin Pierce Revocable Trust

Buncombe County

192 Milksick Cove Road, $125,000, David Neal and Wanda Edwards Carter to Rolando Del Cid Rodriguez, Claudia I. Gonzalez Vasquez

340 Upper Grassy Branch Road, $168,000, Sharon Burnette Brown to MD Roberts Investment Properties LLC

5 Riddle Ridge Drive (1.34 acres), $170,000, Reverse Mortgage Solutions Inc. to Thomas and Marian Plaut

Unit 627 of the Gove at Appledoorn Condominiums, $132,000, David Everette Wilson to Kimberly Kessaris, Gabrielle Michel

Lot 2 Maplewood Village, $318,000, Barbara B. Bartley to Jason and Chandrea Bartley

Lot 15 Tudor Croft phase 1-B, $55,000, Summit Ave. LLC to Nathan A. and Gail P. Woodworth

Lot 1 New Leicester Highway, $146,500, Diana Celeste Gordon to William F. Bailey Jr.

86 Spivey Mountain Road, $60,000, Carol A. and James F. Andres to Charles Travis and Pamela Jean Dover

Lots 45-46 River Walk, $90,000, Lei Han Lao, Xiao Chun Yan to Paul Gavrilov

302 Donnybrook Drive (Lot 3 section 1 Bent Creek), $293,000, Joseph G. Allawos, Carson K. Dellinger to Kevin Richard and Mamie Jennifer Colburn

22 Warwick Place, $350,000, Shien-Lin S. Saber to Elizabeth Graeme Browning

12 Debra Lane (Lot 21 section 2 block A Echo Hills Inc.), $215,000, Christopher Todd and Judith Bolus Lanning (one half undivided interest), Brent Leslie and Victoria Norton Lanning (one half undivided interest) to Linda C. Saxon

223 Fennel Dun Circle (Unit 80 block A2 of Biltmore Lake phase 1), $386,000, Resi REO Sub LLC to John and Kathleen W. Mitchell

56 Lakeshore Drive (Lot 1 and a portion of lot 2 Lakemont), $250,000, 56 Lakeshore LLC to Jon Richard and Stephanie Ann Felsinger

106 Woodcreek Circle (Lot 45 Cherry Blossom Cove Subdivision phase 2A), $219,000, Sharon L. Horne to Office Furniture Distributors Inc.

0.76 acre on Brookdale Road, $750,000, Ricky D. Robinson to Asheville Community Yoga Center Inc.

Lot 190-A Depot St. (0.664 acre), $575,000, Kevin L. and Cleopatrick V. Green, Keith R. and Kishaun M. Green to David Frechter

Lot 24 Scenic Bluff Subdivision, $237,500, Joseph B. and Ashley B. Chapman to Shannon Leigh and Jason A. Chestnut

Unit CX-01 Creekside Condominiums, $140,000, T. Michael Jordan to Deborah A. Simpson

106 Rotunda Circle (Lot 702 Mt. Carmel Village phase 1), $141,000, Rachael Langley, Antonio Samuel Logan to Robert L. Allen

26 Ridge St. (Lot 6), $83,500, Henville S. and Irma M. Abraham to C 2 Holding Group LLC

Lot 6 Twin Lakes Subdivision (0.505 acre), $250,000, Michael J. and Elizabeth R. Sanders to Zachary D. and Giuliana Aguilar (a. k. a. Brown-Aguilar) Brown

Lot 22 Northern Horizons Phase III, $73,500,George E. and Dolores D. Brown to Brad and Sheena McKee

200 Hobson Branch Road, $125,000, Peter P. Gutillo, Susan T. Snider to Andrew T. Gregory

Lot 19 Mill Creek Townhomes Subdivision, $170,500, Mayfair Partners LLC to Jeffrey G. and Jennifer Hedges

Lot 12 Amber Knolls, $286,500, Mountain View Construction of WNC Inc. to Johan L. and Nancy M. Bentley

Leicester

78 Walnut Drive, $18,000, Paul J. Caldwell to Janet Lynn McCargar

Limestone

4 Heywood Road Unit D (Heywood Road Condominiums), $106,000, Amcourt LLC to Brenna Storm Cook

Lot 11 Quail Hollow phase 2, $425,000, Ed Holland Builders Inc. to Suzanne Premo

Lot 4 block 6 Skyland Springs, $300,000, Jeanne Shuford and Felix Francis Vaitekunas to AVL Holdings LLC

Swannanoa

Lots 16-17 block 42 of E. W. Grovemont Lands, $188,000, W. David Myers Properties LLC to James Hutchins

114 Edwards Ave. (Lot 26 Beacon Manufacturing Co. Old Village), $169,000, Robbie E. and Tressa (f. k. a. Tressa M. Holland) Pierce to Christopher R. and Lindsey Cannon

Weaverville

Lot 26 Reems Creek Town Homes phase 4A, $210,000, Cedar Ridge Plaza LLC to Sean P. McConnell, Michelle A. Youngblood

49 Loftin St., $332,500, Serrus Creekside LLC to Virginia McKey

0.81 acre on Old Mars Hill Highway, $380,000, Michael C. and Sandi N. Annone to Flat Creek Holdings LLC

Woodfin

5.39 acres on Charcoal Road, $52,500, Gary J. Emory to Devin Morgan, Paige Schneider

via http://www.citizen-times.com/story/money/business/2016/11/04/buncombe-asheville-property-transfers-oct/93280616/

Continue reading...

Retirees and real estate interests back Buncombe candidates

Ibuyhomeslogo square v2Cash for House – IBuyHomesLLC.com

The nine candidates for the Buncombe County Board of Commissioners altogether raised at least $280,000 through about 1,400 campaign donations, many of them from retirees, out-of towners, and building and real estate professionals, according to campaign finance reports.

The reports show residents of East and South Asheville have largely funded the races, while downtown and West Asheville residents contributed little, based on population.

The candidates must file quarterly campaign finance reports with the Buncombe County Board of Elections showing where their money comes from. Most contributors provide their names, addresses, occupations and employers.

About 425 contributions of $50 or less are listed as aggregate contributions, and no information about the donors is available. These contributions amounted to about $15,275, or just over 5 percent of the money candidates gained through fundraising.

People who listed themselves as retired collectively contributed the most to the commissioners race. About 360 people supplied nearly $80,000. People living outside of Buncombe County made up the second-most numerous group. About 120 people donated around $45,000.

Attorneys and property-related professions represent large groups of contributors. Ninety-three attorneys donated more than $21,000, and about 100 real estate agents, contractors and similar occupations contributed nearly $38,000.

The contributions show who has money to spend and which issues are important to voters, said Chris Cooper, a Western Carolina University political science professor. The reports underscore the importance of development in Asheville, he said.

“People think they’re going to get something for their money,” he said. “It says what types of issues people think will matter going forward.”

The Citizen-Times analyzed the commissioner candidates’ campaign finance reports, which run through Oct. 22, for this election cycle for occupational and geographic trends.

 

Democrat Brownie Newman and Republican Chuck Archerd got most of their campaign money through personal loans — $42,00 and $230,000, respectively.

Of money they raised, both candidates focused on local donors. Archerd raised $39,757, of which 91.5 percent came from Buncombe residents, and Newman raised $34,410, of which 97 percent came from Buncombe.

Archerd raised about 44 percent of his money from addresses in South Asheville’s 28803 zip code. Newman’s geographic base was broader. He raised 23 percent of his funding in North Asheville’s 28804 zip code and 17.5 percent in downtown’s 28801 zip code.

Retirees made significant contributions to each campaign, and donors’ occupations were generally similar.

Newman raised more money from educators than Archerd. He and Jasmine Beach-Ferrara topped fundraising among candidates in that area, with each listing 10 education-related donors. Archerd, Robert Pressley and Mike Fryar each had one donor who identified as an educator.

Archerd received a $1,000 contribution from the NC Realtors PAC in Greensboro.

Newman received more contributions from politicians than any other candidate. Donors to his campaign included state Rep. Brian Turner, state Sen. Terry Van Duyn, Sheriff Van Duncan, District Attorney Todd Williams and fellow commissioners David Gantt and Holly Jones, all Democrats. Asheville city councilwomen Gwen Wisler and Julie Mayfield also contributed to his campaign, as did Buncombe County Register of Deeds Drew Reisinger.

Weaverville punches above its weight in east Buncombe’s District 2

Democrat Nancy Nehls Nelson has challenged incumbent Republican Mike Fryar in east Buncombe, where voter registration numbers show the race is likely to be close.

If Nelson, a Weaverville resident, wins, she will likely thank her neighbors. The Weaverville zip code 28787 produced 62 contributions totaling $9,875 for Nelson, about 28 percent of the $35,018.20 she raised.

Fryar, who raised $43,204.30, received the most contributions from Fairview, where he lives, North Asheville and South Asheville, but no one area contributed as strongly for Fryar as Weaverville did for Nelson.

About 26 percent of Fryar’s donations came from real estate and building professionals. He raised more money in this category than any other candidate. Donations included a $1,000 contribution from the NC Realtors PAC in Greensboro.

He also performed comparatively well with healthcare professionals, raising $1,650 from seven sources. Beach-Ferrara was the only candidate who performed better in this category.

At about $127, Nelson’s average donation amount was relatively low compared with other candidates. She tied with Beach-Ferrara for the largest number of donations.

Democrats raise more than Republicans in west Buncombe’s District 3

Republican commissioners have controlled District 3 since it was created in 2012, but this year, they failed to raise more money than their Democratic opponents.

Democrat Ed Hay raised $21,376.06 to incumbent Republican Joe Belcher’s $15,493.25.

With $28,018.77, Democrat David King raised more than twice what his opponent Republican Robert Pressley raised, $13,856.11.

Pressley had the largest average donation — $945 — of any commissioner candidate, but with just 16 donations, those large contributions didn’t amount to much. Pressley had fewer donations and consequently raised less than any other candidate.

District 3 has the fewest voters of the three commissioner districts, according to registration numbers released in September, which could have made fundraising more difficult. No candidate proved particularly successful at raising money in Arden’s 28704 zip code, which yielded just $1,300. None of that went to District 3 candidates.

For Hay and King, Asheville and Biltmore Lake addresses contributed significant amounts. Belcher and Pressley didn’t receive the same boost from these areas.

Jasmine Beach-Ferrara forges her own fundraising path

Jasmine Beach-Ferrara went into the March primary with a fundraising advantage and defeated other Democrats vying for the District 1 seat, which represents central Buncombe. She is running unopposed in the general election.

She raised more money than any other commissioner candidate, reporting $49,640.33. About 61 percent of that money came from out-of-town donors.

The Boston and St. Louis areas, where Beach-Ferrara and her wife, Meghann Burke, have roots proved important. Donors in these areas contributed about 40 percent of the money she raised.

Beach-Ferrara said she was intentional about fundraising, perceiving potential barriers to her candidacy.

“As a first time candidate who’s also a woman and who’s also LGBT, those are a lot of potential challenges for a candidate on paper,” she said. “From the start, I knew that I needed to have the resources to run a really strong campaign.”

Although Beach-Ferrara was a prolific fundraiser, fewer of her donors were retirees than any other candidate. Just 5 percent of donors listed themselves as retired, whereas the average was 25 percent.

 

Continue reading...

Buncombe, Asheville property transfers for Oct. 10-14

Ibuyhomeslogo square v2The following transfers were filed in the Register of Deeds office Oct. 10-14.

Arden

Unit 208 building B Carrington Place Condominiums phase 1, $117,000,Richard F. Christy to Johne Hamiltonne Smith, Marleni Portillo Cantarero

Asheville

2.0007 acres on Sweeten Creek Road, $285,000, Joel K. and Sue Ann Jensen to Lighthouses LLC

794 Haywood Road (0.38 acre), $535,000, Ellen E. Sherlin to Kville Investment Group LLC

235 Virginia Ave. (Lot 1), $110,000, Blue Asheville Investments LLC to RHW Investments LLC

42 Schenck Parkway Unit 302 (Building 4A of Biltmore Park Town Square – A Condominium (Parking space , Garage, & Storage Closet ), $460,000, James A. and Wanda Ray to Marvin R. and Elayne B. Taylor

Lot 14 Springtime Subdivision, $208,000, Glen Edward Chapman Revocable Trust to Phillip M. Orr

333 Hi-Alta Ave. (Lot 2), $104,000, Mitzi Lea Logan Bagarmary and Jamese Allen Odom, Zachary James and Tara A. Bagamary to Mitzi Lea Logan Bagamary and Jeffery Allen Odom

48 S. Griffing Blvd. (Lot 130 Griffings Kimberly Heights block K), $450,000, Marguerite P. Thompson to Raymond L. and Lana L. Tetzlaff

Lot GIII-01 Laurel Place Cluster Three Garden Homes, $395,000, David G. and Susan H. Cooper to Constance D. and Pauline Aridas

Unit 65 building 4C Biltmore Park Town Square – A Condominium, $380,000, Paula P. Lindrum to AIMAX LLC

Lot 63 Crest Mountain $485,000, Margaret J. and Hugh Holliday Paschal to The Bonnie L. Parker Revocable Trust

Unit J-4 Pine Cliff Condominiums phase 5, $190,000, Kent E. and Elizabeth C. Nelson to Susan W. Hiller

146 Dunwell Ave. (Lot 6), $172,000, Jack Michael Cannon to McMaster Real Estate Group LLC

Avery’s Creek

Lot 167 of the Cliffs At Walnut Cove phase 2, $505,000, Patrice M. and Thomas T. Teel II to Richard A. Stuckey

Black Mountain

19 Seldom Home Drive (1.55 acres), $228,000, Timothy Beams to Amanda G. Heermans

Buncombe County

Lot 4 Wilson Ave. (Block 12 E. W. Grove Grovemont Lands), $26,000, Kathryn Lee (a. k. a. Kathy Lee or Kathryn L. Woodhouse) Penley to Jerry Dean Robinson

Lot 35 Coventry Woods phase 3, $595,000, Dean E. and Elizabeth G. Hill to The Sean Patrick Katz “SLCC” Trust

8 Von Ruck Court (Lot 15), $265,000, Diane DeBruhl, Phil Thompson, Sierra Schoenheit & Roger Tinsley, Sam Schoenheit to Kathryn Elaine Blount, Joseph Benjamin Burrell

18 Moser’s Place (Lot 9), $188,000, Thomas David and Karen (f. k. a. Picou) Cochran to Leann Wright, Franklin Dorsey Parker III

5 Hampstead Road, $525,000, Mara L. and David K. Alexander to Patricia L. Abrams, Sarah E. Pedley

Lots 254-255 Reynolds Mountain Development LLC phase II, $615,000, Steven Schulman Family Trust to Beverly E. Belgya Revocable Trust

Lots 7-10 of Fox Run Drive, $20,000, Elliott (a. k. a. Elliot) Reed Seskin, Lori Shinn (a. k. a. Shin), Chelsea Cypress to Home Crafters of Western Carolina LLC

12 Memory Lane (Lot 1B), $80,000, Dickey P. (a. k. a. Dick Philip) McCanless, Mary Sue Hamlin, Sonja William & William Joe McCanless Jr. to J. Cure Properties LLC

Lot 41 Pinebrook Farms, $334,000, Pinebrook Farms LLC to Susan B. Stockman

41 Blackstone Ave. (Lots 27-31 Laurel Terrace Block 5), $187,000, Jakub and Kiersa Holy to Willard Properties LLC

Unit F-3 Pine Cliff Condominiums phase 3, $185,000, Suzanne C. (f. k. a. Conlon) and James S. Traub to Sandra J. Misage

Lot 613 Southcliff phase 2, $256,000, MRECV Southcliff LM LLC to Michael E. and Kimberly K. Rovinski

15 Holly Hill Court (Lot 15 Tiny Farms section 3), $454,500,Douglas and Debbie Cohen (a. k. a. Cohen-Moll) Moll to Timothy J. and Caroline S. Jacklin

411 Bowling Park Road (Unit 411 of the Residences At Biltmore), $255,000, Serrus Residences At Biltmore LLC to James N. and Diane S. Bacus

Lots 46-47 Ventana phase 2B, $460,000, Ventana Communities LLC (f. k. a. Philly Capital Partners LLC) to Gary Bunch

345 Pritchard Road (0.434 acre), $226,000, Brenda C. Kiser to Caroline C. Albright

Lot 70 of the Cliffs At Walnut Cove phase 1, $695,000, Barry A. and Shelly (a. k. a. Shelly) A. Kugel to Bart A. and Cynthia S. McLean

Lots 1-2, 37-38 Royal Pines block 30, $349,000, Paul Mark Pappas, Melanie Jeanne Olivier to Royal Pines Group LLC

Lot 14 Oakmont Subdivision, $173,000, Joseph Thomas Whittle to Elvis Enmanuel Echavarria Matos

1.079 acres on Chatham Road, $725,000, Kendal Bragg Minnich, Susan Fennelly to Raymond Lee, Terry Faulkner

68 Locust Meadow Lane (Lot 12 Forks of Ivy Acres), $270,000, Shirley Robinson Wright to Teresa M. and James J. Norconk III

4 Dundee St., $8,500, Robert Craig Simon to DDG Real Estate LLC

314 Bowling Park Road (Building 314 of the Residences At Biltmore Condominiums), $250,000, Serrus Residences At Biltmore LLC to Donna M. and Darryn D. Roasa

Fairview

Lot 8 block C section 2 Blue Ridge Forest, $275,000, Kevin and Nicole Penland to Danny L. and Rose Ireland Metcalf

Fletcher

19 Bradford Vistas (Lot 10 Waterford Lakes), $750,000, Joseph Richard Tomkinson, Irene Jacobs to Ruth Veronique Saretsky

Leicester

N.C. 63 Right of Way from Gilbert to Newfound Roads, $38,000, Evelyn M. and Richard Edward Carter to the North Carolina Dept. of Transportation

Swannanoa

6 Peek Hill (Lot 2), $165,000, John P. and Thea M. Mueller to Nicole Chamberlain

Upper Hominy

Unit B building 42 Woodlands Trails Condominiums, $89,000, Jeanette Y. Hawkins to Darlene Hightower

3 parcels on Charity Lane, $158,500, Theodore W. and Darlene B. Haberer to Balloons Over Asheville LLC

Weaverville

14 Dula Springs Road (Unit 2 Garden Springs Condominiums), $141,000, Garden Springs Properties LLC to Enrique and Arlette Varela

51 Loftin St. (Unit 5 Creekside Village), $283,000, Serrus Creekside LLC to Lisa Hultman

Compiled by Citizen-Times News Correspondent Bonnie Black

Continue reading...

WBTV partners with NC Housing Finance Agency to help struggling homeowners

Ibuyhomeslogo square v2CHARLOTTE, NC (WBTV) –

WBTV partnered with the North Carolina Housing Finance Agency to help people who are struggling to make payments on their homes because of lost jobs or personal hardships.

According to CoreLogic, While the number of foreclosures in NC is declining, there were still 15,000 completed home foreclosures in the state in 2015. There have already been 14,272 foreclosure filings in NC so far this year through June. 30; 1,743 in Mecklenburg County.

The NC housing Finance Agency runs the NC Foreclosure Prevention Fund in which they use funds from the U.S. Department of the Treasury. Funds were made available to North Carolina because of high concentration of unemployment at the beginning of the recession.

The purpose is to help homeowners who lost their jobs during the recession and recovery to avoid also losing their homes – strengthening their ability to recover and preserving local property values.

It has helped families like Lionel and Deborah Wellington. Lionel lost his job.

“The paint machines, I was building those and they laid me off,” said Wellington. “It is frightful thinking you are going to be in the street if you do not have a place to live.”

Not only did Wellington lose his job, but he also suffered three heart attacks. With those heart attacks came massive medical bills.

“When he had the heart attack that is what really hit. I was like, ‘we may be in trouble,’” said Deborah Wellington, Lionel’s wife.

The Wellington’s turned to the Housing Finance Agency for help.

“This is not just about rich people or poor people. This is about hard working people that just happened to fall into this position,” said Deborah Wellington. “Oh, the journey was easy for us.”

“They paid my mortgage and my HOA for 18 months which ended up being about $26,000 dollars,” said Wellington.

Below is more information on the Fund, the help offered, and who is eligible.

NC Foreclosure Prevention Fund:

  • Administered by the NC Housing Finance Agency using funds from the U.S. Department of the Treasury. Funds were made available to North Carolina because of high concentration of unemployment at the beginning of the recession.
  • Purpose is to help homeowners who lost their jobs during the recession and recovery to avoid also losing their homes—strengthening their ability to recover and preserving local  property values.
  • Also assists homeowners struggling with mortgage payments due to a temporary hardship such as divorce, death of a copayer or illness that necessitates them finding a new job, and homeowners who have suffered a qualified hardship and are now re-employed but earning less or are now on a fixed income and unable to make mortgage payments as a result.
  • Provides special assistance for veterans transitioning to civilian life. Making the foreclosure assistance available for veterans is particularly important in North Carolina, which is home to 10 percent of all active-duty military personnel in the U.S. (102,000) and more than 775,000 veterans.
  • Since 2010, more than 22,000 NC homeowners have been assisted;  98 percent of those who have completed assistance and now make their own payments have successfully avoided foreclosure; more than $3.8 billion of  property has been kept out of foreclosure
  • No other program in North Carolina does this (makes mortgage payments on behalf of a homeowner)

Types of Assistance:

  • Mortgage Payment Assistance: For homeowners who have lost their jobs or who are recovering from a temporary hardship, the program makes mortgage payments of up to $36,000 directly to the loan servicer for up to 36 months while homeowners look for jobs or re-train.
  • Principle Reduction Assistance: For homeowners earning less or on a fixed income, the program can reduce the principal and recast the loan to make mortgage payments more affordable.
  • Funds can also be used to bring a mortgage current for a homeowner.
  • Veterans attending school on the GI Bill or participating in a VA-approved vocational training program are eligible for the maximum 36 months of assistance, as long as their mortgage payments exceed 25 percent of their household income.
  • Zero-interest deferred loan; repayment not necessary if homeowners remains in home for 10 years

Eligibility for Fund assistance:

  • Responsible homeowners who have lost jobs through no fault of their own.
  • Homeowners struggling because of temporary financial hardships that require them to find a new job.
  • Veterans must be separated from service on or after Jan. 1, 2008, provide a DD-214, have a VA-issued Certificate of Eligibility for the GI Bill and provide proof of enrollment in school or a vocational retraining program.
  • For mortgage payment assistance, must be looking for work or retraining.
  • For principal reduction and loan recast, must be re-employed or on a fixed income after a qualified hardship and earning less with an unaffordable mortgage.
  • Need to have good payment history before job loss or other hardship.
  • Must show ability to resume making own mortgage payments after assistance ends.
  • Don’t have to be delinquent on payments to apply.
  • Do have to show a need—mortgage and related payments are greater than 25 percent of household income.
  • Legal resident of North Carolina.
  • Job loss/financial setback must be after Jan. 1, 2008.

The process:

  • Apply through local HUD-approved counseling agencies statewide or online at www.NCMortgageHelp.gov.
  • Final decision made by Fund staff at the N.C. Housing Finance Agency.

For more information:

via http://www.wbtv.com/story/33428933/wbtv-partners-with-nc-housing-finance-agency-to-help-struggling-homeowners

Continue reading...

Property transfers Buncombe, Asheville for Oct. 3-7

Ibuyhomeslogo square v2The following transfers were filed in the Register of Deeds office Oct. 3-7.

Arden

Lot 3 Brae Burn, $282,000, Roger A. and Jane A. Wallace to Jamie N. and Nicholas D. Van Dyke

Asheville

32 Bideford Row (Lot 66 Devonshire Subdivision phase 7), $620,000, Laura S. Claiborne Richard to The Alexander Family Trust

83 Keasler Road (Lot 1, 1.278 acres), $285,000, Harold L. (a. k. a.) Howard L. and Mae M. Deel to Nery Galia Jeritski

Lot 1 Pinebrook Terrace, $238,500, Margaret McLean Bissell to Michael Patrick Hamel, Sarah Colleen Coury

407 Old Stone Gate Place (Lot 6 Reynolds Mountain Development phase 1), $985,000, Elliott N. and Valerie C. Exar to Bob and Sally Gremillion

114 Pebble Creek Road (Unit K-5 Pebble Creek Condominiums phase 8), $116,500, Terri Lynn Hornsby, Victor C. Garlock to Colleen K. Karen E. C. Cody

84 Saint Dunstans Road (Lot 2), $450,000, Donald R. and Ayako (a. k. a. Ayako Kega) Wilson to Eric William and Shawna Dee Hanson

Lot 32 Witchwood Acres, $109,000, Beverly A. Bell to Danielle T. Sheridan Bell (a. k. a. Sheridan-Bell)

17 Jeff Drive Unit 8B (Amber Sunset), $250,000, Aized Real Estate LLC to Jonathan Martin and Ricca Bartlett Ray

195 Edgewood Road (Lot 5), $427,500, Roger and Laurie R. Moser to Howard S. and Barbara A. Fiedler

38 Eastview Ave. (0.26 acre), $193,000, Adam H. and Katherine (f. k. a. Apt) Bannasch to Ryan Wade and Jamie Zane Brazell

Lot 1 building 37 Hawthorne phase 1, $137,000, January W. McSwain, Michelle and Scott Niemi to James L. and Susan C. Crowder

Avery’s Creek

Lot 52 section 1 of the Village At Avery’s Creek, $233,000, Mark R. and Sherri H. LaFever to Harold E. and Helga U. Zeltner

305 Piney Mountain Drive (Unit Q-1 Pine Cliff Condominiums), $205,000, Margaret E. Jones to Kandie Coggin and Frederick James Sparger III

Buncombe County

Lot 14 High Valley Estates, $53,000, Christina M. and James H. Carter Jr. to Boyd Robert Mintz

Lot 5 Country Subdivision phase VI, $135,000, Roland P. and Madeleine Joan Chabot to Christopher H. and Sarah D. Booher

Lot 19 Oakland Forest, $200,000, JXF Investments LLC to Benjamin David Swann, Katherine Swann, Elizabeth N. Swann

248 Saint Johns St. (Lot 2 block G Mountain View section 2), $189,500, Raymond L. and Renee L. Cagle to Derek and Kristina Olson

Unit 5 Sunset Park, $521,000, Glenn and Angela Cullen to Robert and Carla Fennelly

Lot 92-A Pinebrook Farms, $534,000, Pinebrook Farms LLC to Steven and Virginia Mannina

10 N. Delano Road, $185,000, Cedar Brook Properties LLC to 521 S. Front St. LLC

Lot 64 block C Riverview, $60,000, Dry Ridge Investments LLC to DeBord Enterprises LLC

Lot 77 of the Cliffs at Walnut Cove phase 1 (1.562 acres), $645,000, Urbana Cliffs RE LLC to Folkestone LLC

82 Woodcreek Circle (Lot 35 Cherry Blossom Cove phase 2A), $220,000, Robert L. and Michelle C. Colangelo to Ember Patrice Latrella

15 Pine Acre Blvd. (Lots 144-145 block H Lakeview Park), $890,000, Donald K. and Elizabeth R. Bagwell to Matthew Loos

75 Lakewood Drive (Lot 122 block B Kenilworth), $380,000, Vanessa Cram and John Homer Byrd III to Prospero Properties II LLC

181 Bear Creek Road (Lot 10 block G Malvern Hills), $390,000, Evan L. and Kelly R. Sluder to Christopher B. and Jessica T. O’Neill

48 Asher Lane (Lot 24 of the Cottages at Glenn Oaks, 0.23 acre), $282,000, R & D Ledbridge LLC to Randall Corbin and Stephanie Clouser

Lot 9 Lakeside Meadows, $240,500, Windsor Built Homes Inc. to Karen L. and Richard B. Southard

301 Theron Court, $292,500, Robert Adam and Ashlee Rainwater to George Robert and Jennifer Rainwater

Unit 92-B Pinebrook Farms, $510,500, Pinebrook Farms LLC to Richard J. and Susan Powers Spoering

96 Oakley Road (Lot 3), $249,000, Natasha X. Kush to Francois and Julie H. Gros

Unit B6 Longchamps Condominiums, $450,000, The Sharon G. Watson Revocable Trust to Janice Garrett McArthur

206 Forest Hill Drive (Lot 32 block D Kenilworth), $290,000, Frances C. and Jeffrey L. Norman to Brook Trail Properties LLC

Fairview

21 Clifford Drive, $242,000, Edward C. and Brenda W. Pagan to Mary Ace and Edward Rey Baggot, David L. and Cecilia Baggott

135 Laurel Haven Road (2 tracts), $30,000, JPMorgan Chase Bank NA to Sandra Messer

French Broad

2 Twin Drive (Lot 7) $31,500, Randy M. Rice to Carolyn Rice

Limestone

Lot 4 section 1 High Valley Forest, $242,500, Judith A. Adams, Nancy Christine Westfall to Amy and Joseph Stertz Jr.

Swannanoa

Lot 16 Bee Tree Village Subdivision, $232,500, Estate of Lydia W. Ledford to Martha H. Moore

Upper Hominy

Lot 16 Challedon Estates, $62,000, The Greg Glance and Elizabeth P. Glance Living Trusts to Pavlo Heyko

Weaverville

103 Alaron Drive (Lot 7 Hamburg Place), $500,000, Terry L. and Katherine S. Poling to Richard H. B. and Marcy B. Woodrow

Lot 25 Chickwood Knoll, $229,000, Christopher T. and Alesia Michelle Gudger Whitfield to Robert D. and Kimberly M. Buchanan

Compiled by Citizen-Times News Correspondent Bonnie Black

Continue reading...

Home shortage skyrockets Asheville, Buncombe prices

With no new supply in sight, persistent low inventory means buying a house will become only more expensive.

Here are a few of the realities confronting homebuyers in Asheville and Buncombe County:

About the only housing-market category record that won’t be set this year is the lowest-ever inventory for houses priced at $1 million or higher.

Local homeowners looking to stay in the area and purchase a bigger place are better off building additions or renovating the houses where they live now – or move to a neighboring county.

Even if they sell their current residences at a profit, that money likely won’t be enough to find nearby homes with more space in their price ranges.

To put it simply, the number of houses available to buy continues to drop and “that’s driving prices up,” said Neal Hanks, president and principal owner at Beverly-Hanks & Associates Realtors in Asheville.

“That’s the big story,” Hanks said.

Despite mammoth demand that for months has spurred bidding wars for houses with asking prices up to $800,000, builders have not responded with large-scale new-home construction.

When housing inventory exceeds six months, home prices generally drop, said Mike Figura, owner and broker of Community Lifestyle Mosaic Realty in Asheville. When inventory tumbles below six months, prices generally rise.

Asheville inventory levels stood under six months at all price ranges below $700,000 as of the beginning of this month, according to Figura’s data. The figures ranged ranged from 0.46 months for homes that cost $100,000 or less and 5.39 months for homes that cost between $600,001 and $700,000.

All homes in Buncombe County, excluding Asheville, priced up to $400,000 as of Oct. 1, showed inventory levels below six months. Totals ranged from 1.84 months for those between $150,001 and $200,000 to 5.38 months for those between $300,001 and $350,000, Figura’s data showed.

“(Builders) aren’t willing to take on speculative construction because it’s a risk,” Hanks said.

Many spec builders went out of business, or watched colleagues go out of business, because of the Great Recession.

“That still stings,” Hanks said.

But Don Davies said spec construction might be the only way to avoid high home prices persisting into 2017.

The founder of Realsearch, an Asheville company that analyzes real estate trends, said ongoing low inventory could stall the local real estate market.

“We’ll be floating around those prices next year,” Davies said.

Land sales of 2- and 3-acre lots that have been on the rise could be an indication that people are looking at spec building, he said.

But if that doesn’t manifest, Hanks said it could be a result of builders knowing that the real estate market is cyclical.

The industry has been healthy for about four years now, he said.

“It can take four to seven months to build a house,” Hanks said. “A lot can change in the economy during that time. People are wondering whether we’re at the end of this cycle.”

That being the case, median days on the market for available houses have plummeted by 60 percent in Asheville and Buncombe County, said Steve Heiselman, a broker for Town and Mountain Realty in Asheville.

Median days on the market in Asheville dropped to 21 during this year’s third quarter from 53 during the third quarter of last year, Heiselman said.

For the same year-over-year comparison in Buncombe County, median days on the market plunged to 25 from 61, Heiselman said.

Davies said home-buying in Buncombe has become “like a frenzy.”

To those looking for their first house with a $200,000 budget, he said, “If you find one at that price in decent shape, you have to buy it that day, literally. You don’t have time to sit around and think about it or you’ll lose it.”

Asheville and Buncombe County’s steady march into an ever stronger sellers’ market is not new.

But some statistics within that phenomenon still may surprise local real estate professionals.

For example, Asheville’s median home sale price of $284,700 during the third quarter leapt 5.2 percent higher than the second quarter median price of 269,900.

“That’s a significant jump over three months,” Figura said.

Figura and Hanks offered different strategies for local homeowners who want more space.

Putting an addition onto an owner’s current house is a way to stay in Asheville and Buncombe County, Figura said.

Hanks, however, pointed out that the median selling price during the third quarter for a house in Haywood County was about $70,000 lower than one in Buncombe County.

“It’s not that far away and the quality of life is similar,” Hanks said. “People have shown all around the country that they’re willing to drive 25 to 30 minutes to get where they want to go.”

BY THE NUMBERS

Some records set in the Asheville and Buncombe County housing markets during the third quarter of

  • Highest home sale median price in Asheville: $284,700.
  • Highest home sale median price in Buncombe County, excluding Asheville: $252,000.
  • Lowest average days on the market for homes in Asheville: 55 days.
  • Highest average asking price of all 1,413 homes in Buncombe County, including Asheville, as of Oct. 6: $600,889.
  • Highest average selling price of all homes in Buncombe County, including Asheville, during the first three quarters of this year: $309,497.
  • Highest average selling price of all homes in Buncombe County, including Asheville, sold during the last 12 months: $306,167
  • Highest median selling price of all homes in Buncombe County, including Asheville, during the first three quarters of this year: $252,250

Sources: Don Davies, founder of Asheville-based Realsearch; Mike Figura, owner and broker of Community Lifestyle Mosaic Realty in Asheville

via http://www.citizen-times.com/story/news/local/2016/10/14/not-enough-houses-equals-skyrocketing-asheville-and-buncombe-county-home-prices/92045348/

Continue reading...

Buncombe, Asheville property transfers for Sept. 26-30

Ibuyhomeslogo square v2The following transfers were filed in the Register of Deeds office Sept. 26-30.

Alexander

Lot 16 Pinecrest, $252,000, Michael Shawn Skulley to Randall Worthington Bullerdick

Arden

16-B Joshua Ridge, $20,000, Steven A. Butler to Ginger Lynn Cunningham

149 Clayton Road, $250,000, JD Rentals Inc. to East Coast Leasing Services LLC

111 Mulberry Court Extension (0.55 acre), $40,000, Robert Thomas and Patricia P. Gasperson to Myrtle Lee Ammons

35 Blake Drive (Lots 18-19 section 3 block 37 Royal Pines), $137,500, Stephanie G. (f. k. a. Stephanie N. Gaetano) and Christopher R. White to Charles and Sarah Davis

Lot 47 Mallard Run phase 2A, $253,000,Windsor Built Homes Inc. to Diego Augusto Schemel

Asheville

Lot 8 Eastmoor phase 1, $265,000, The Herbert K. Holtzworth Jr. Residuary Trust to Wayne M. and Rhonda Christle Rautio

12 Starmount Drive (Lot 9 section 1 of Knollwood Subdivision), $197,000, Jeremy Scott and Amber Hamlin to Keli Bryan

22 Sayles Road (Lot 11, block D), $165,000, Diana M. Butler to Mary Kathryn Moore

68 Brookwood Road (Lot 19 block F-2 Sherwood Heights Subdivision), $580,000, Steve I. and Patricia B. Kutay to Rise Terry Hershoran, William E. Thompson

4 Wild Orchid Lane (Lot 6), $25,000, Robert M. and Billie M. Jones to James D. and Jennifer J. Redmon

1061 Sweeten Creek Road, $975,000, Sweeten Creek Realty LLC to JTP Holdings LLC

21 Oakhaven Terrace (Lot 37 of the Homes at Eastwood Village phase III), $340,000, Yavuz and Nevriye Koruk to Harry Steven and Victoria Robb Creech

25 Ora St., $90,000, Duroff McDonald and Louise Glover Manning, Tyrone and Tonya Jones Manning to Shaun McCullom

Lot 8 Eastmoor phase 1, $265,000, The Herbert K. Holzworth Jr. Residuary Trust to Wayne M. and Rhonda Christle Rautio

8 Ravencroft Lane (Unit 8 building A Ravencroft Condominiums phase II, $125,000, Craig E. and Kristin A. Garrett to Douglas P. and Evelyn J. Smith, Connor J. Smith

849 West Pointe Drive (Lot 38 Crowell Farms), $256,000, Loyd King, Sally Iannazzone-King to Pamela C. and Rudolph N. Rose Jr.

Lot 83 Botany Woods Subdivision, $285,000, Richard Lewis and Tammy Reynolds to Scott M. Fahy

Biltmore

10 Houser Road, $365,000, Charles R. Houser to Ahava H. Brooke, Thomas M. Bier

Biltmore Lake

Lot 122 Biltmore Lake phase 1, $895,000, Leslie Ted Prosser to John Aloysius and Maribeth Austing Rider

Black Mountain

Lot 7 Allen Mountain Ridge phase II, $55,000, Frohm B. and Judith Lutvack to Kimberly Anne Weeks, Tammy Lyshelle Kerlee

Buncombe County

300 Gap Creek Road (0.70 acre, portion of lot 1), $169,000, Kristi E. (f. k. a. Branham) and Cody M. Derrick to Nathan M. Cobb

193 S. Grove St. (0.1 acre), $155,000, Asheville Land Company LLC to William Richard Culbreath, Alicia Dawn Nichols

14 Harkins Lane (Lot 5 Pineywood Estates, .80 acre), $28,000, CitiFinancial Servicing to Joyce Diane Davis

Unit 30 block A2 of Biltmore Lake phase 1, $562,500, Mark T. and Erin M. Wells to Steven K. and Cynthia Salter

Unit 102 Forest Center Condominiums phase 1, $135,000, William H. and Carol I. Matthews, Family Life & Learning Center Real Estate LLC (one half undivided interest each) to Leonidas Holdings LLC

31 H G Buckner Meadows Road (Tract 1-A, 0.55 acre), $202,000, Chad and Leah B. (f. k. a. Solesbee) Carter to Sunny W. and Gary Brandon Ducker

11 Dixon Road, $155,000, Farmbound Holdings LLC to Shona Guevara

40 Sand Hill Lane, $35,000, Brandon and Brandy Allen to Maria Julia Ayala Guevara, Jorge Luis Hernandez Ayala

145 Clayton Road, $25,000, Johnny Edward Chapman, Revonda Lee Kelly, Katherine Margaret Ryder to Artex Carolina Inc.

39 Pacifico Drive (Lot 15), $363,000, Joseph C. and Sueako Difeo to Jeremy and Amber Hamlin

Lot 7 Mountain View Estates (Tipton Hill Road), $26,000, The Daisy Sophia Shumaker Living Trust to Bruce A. Crossman

25 Glen Crest Drive (Lot 10 Glen Crest Subdivision), $359,500, Christopher and Rebecca Y. Ewing to Derek and Jennifer T. M. Bouchard

Lot 22 Southcliff (Still Creek Loop), $72,500, MRECV Southcliff LM LLC to AMARX Construction LLC

Lot 3 Bear Creek Hills (0.729 acre), $344,500, Daniel Lee and Brandy Rogers Jenkins, Joshua Clay and Amanda Phillips Jenkins to Gregory Treaster

127 Shadowlawn Drive (Lots 512-513 block D), $57,000, Marie Ball Gibson to Asheville Land Company LLC

48 Rotunda Circle (Lot 407 Mount Caramel Village phase 1), $165,000, Belinda T. Wells to Carey Canipe and Linda Charlene Phillips

69 Smith Road (5.5 acres), $95,000, Theodore Michael Rogers to Gwendolyn Abeln Casebeer

Lot 70B Fitzgerald Townhomes, $385,000, Johanna M. Cressy to Lori A. and Robert J. Cottone Jr.

56 Ridge Creek Drive, $167,500, Robert C. and Joan K. Powers to Travis Lee Ferren, Delaney Jordan Harrigan

Lot H-1 The Vistas of Westfield phase 1, $343,000, The Vistas of Westfield LLC to Patricia Moore Smith

23 Huffman Road, $170,000, Michael A. Hancock to Maple Ridge Investments LLC

104 Summerglen Drive (Lot 191 section 4 Bent Creek subdivision), $200,000, Hinnenkamp Revocable Living Trust, Klaus R. Hinnenkamp and Peggy P. Hinnenkamp Revocable Living Trust to Benjamin Avivi

327 Old Haw Creek Road, $50,000, Equity Trust Co. Custodian FBO Colin Roberson IRA to Robert B. and Sudan H. Michael

Lot 5 Cherry Blossom Cove phase 1, $206,000, Jock A. and Whitney H. Brough to Julie A. and John K. Larsh II

Unit M-4 the Cloisters Condominiums phase 6, $131,00, Estate of Peter Micheale Hamm, Chris and Michelle Tydus, Anna M. Hamm, Alison M. and Steve Poteracki to Susan Clayton and David Beltz (Ninety-Nine percent interest), Lauren Elizabeth Beltz and Zane Bitter (One percent interest)

373 Merrills Cove Road (3.21 acres), $645,000, Christine D. Cook to Patrick Joseph and Elizabeth Paige Gerbic

Lot 24 Woodcrest At Biltmore Terrace, $235,000, Highland Property Group LLC to the Cheryl Wolfarth Revocable Trust

814 N Oconeechee Ave. (Lot 27 block 49), $240,000, NCI Properties LLC to Tracy A. Mousseau

8 Short St., $129,000, Scott Marshall Investments LCL to David Norman and Mary Lyons Stanley

Lot 3-B Myra Village phase 2, $280,000, Myra Properties LLC to Robert A. and Laura L. Kelso

39 Walnut Springs Drive (Building 7B Waterstone Place), $212,000, REO Properties Two LP to Katheryne E. Wright

238 Tipton Hill Road (0.66 acre), $235,000, William G. and L. Karon King to Anthony L. Gentry, Charity Norton

Lot 1 North Buncombe School Road (4686 acres), $235,000, Estate of Adelaide Daniels Key, Robert J. and Winnie Ziegler, David Daniels and Kathy Key, Jonathan Worth and Barbara Key, Gilbert Russell Key II, Emily Jones and Corey D. Smith, Adelaide Key Green to True Vista LLC

Lot 8 Sugar Hill Estates, $204,000, William Bradley and Ashley C. Martin to Anita B. Heinrich

Lot 40A of the Hills of French Broad Subdivision, $42,000, R & S Investments of WNC LLC to CMH Homes Inc.

Candler

86 Davis Chapel Road, $181,000, Amanda L. Hester to Katie M. Farrar, Gary L. Sizer II

Lot 23 A MC Acres section 3, $93,500, Nancy E. Fox to Sharon C. Bates

Fairview

Lots 1-2 Joe Jenkins Road, $403,000, The Chapel Door to Mountain Shadow Properties LLC

Lot 21 Cane Creek Cove, $46,000, Christopher Mark Race to Patricia Amick and Jimmy Bascombe Guthrie Jr.

Fletcher

25 Enchanted Lane (Lot 9 Forest of the Unicorn), $316,500, David A. Maida, Laura Elizabeth Palermo to Walton James Holcombe, Laura Ann Goodman

Leicester

8 Owens Cove Road, $24,000, Robert Jason and Samantha Owens to Oscar Ventura

70 Juno Drive (Lot 18), $264,000, Richard M. and Ronda Nallenweg to Shannon Michalka

96 Misty Ridge Lane (Lot 42 Country Place phase 5), $102,000, Clifford Boone to Edith Nayeli Zacarias Flores (a. k. a. Zacarias-Flores), Charles B. Ray

Lot 9 Sunset Heights section I, $277,000, Jerry R. King to Arthur Hart Dahlhauser, Hillary R. Holmes

Limestone

40 Hallet Court (Unit 209 block E Ramble Biltmore Forest), $175,000, Ramble Biltmore Forest LLC to Robert M. and Sandra K. McKown

Lot 212 Ramble Biltmore Forest block E, $165,000, Ramble Biltmore Forest LLC to Matthews Custom Built Homes Inc.

Unit 46 building C-J of the Village At Bradley Branch phase I, $187,500, Harold E. and Helga U. Zeltner to Lisa E. Kay

Weaverville

Lot 86 Weaverville Village Walk, $280,000, Frank Michael and Jessica S. Boing to Bryson S. and Erica M. Young

Woodfin

Parcel 6A of Reynolds Mountain (8.84 acres), $840,000, REDUS One LLC to Skyfin Developers LLC

Compiled by Citizen-Times News Correspondent Bonnie Black

Continue reading...