I am not sure how many of you saw the article in the Citizen-Times on Sunday, but it is alot of the same in most aspects. The link for the article is here, Real Estate Market in Asheville 01/27/2008. However, there was a little glimmer of hope at the end of the article. I had been saying all weekend that while the market was down and still declining, that I felt that there were alot of buyers out there circling. I believe there is a lot of money targeting the Asheville area starting this year and continuing for quite sometime. As the article mentions the “Baby Boomers” have some savings and might be waiting it out to see if they can time the bottom of the market and get the best deal.
As for the developers, I feel that a good portion of the serious “full-time” land developers will be back in the hunt this year and ready to get something going for the end of 08 into 2009. However, these developers have got to do better than one acre subdivisions with no since of community. ITS DONE, ITS BEEN DONE, lets move on to something more inventive, more imaginative.
Anyway, folks if you are thinking of refinancing wait til Feb. If you are thinking of selling a home wait til spring. If you are a buyer, I think I would start looking now and be ready for the bottom of the market somewhere late winter early spring.
Hopefully I am not completely wrong, but I agree with the Citizen-Times article, that there is a whole lot of pent-up of desire for Asheville and it is going to bust.
Brian
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January 28th, 2008 at 7:06 pm
[...] unknown article is brought to you using rss feeds.Here is a great article on the latest real estate buying and selling news.The link for the article is here, Real Estate Market in Asheville 01/27/2008. However, there was a little glimmer of hope at the end of the article. I had been saying all weekend that while the market was down and still declining, … [...]