Real Estate Blog Asheville, NC

Well it has been a while since my last post so I thought I would take just a second for a couple of updates:

1) Well the Super Wal-Mart and Lowes in Weaverville is finally back underway.  After some wrangling with local utilities companies it appears as though the developer of this project has finally gotten back underway putting to rest the rumor mill that had reported the developer as being bankrupt.  It appears that the rumor was nothing more than ill informed locals.  I personally look forward to having the shopping amenities in the area north of Asheville.

2) It appears as though we are finally starting to see some drop in the 30yr fixed mortgage rates.  After months of steady increases we are finally starting to see rates right at 6% or just a little under.  While is not having an effect on home sales, the new rates are at least helping many refinance their homes into locked interest rates.

3) Fannie Mae and Freddy Mac have finally been given a need shot in the arm from the fed, fannie-rates-reduction.pdf, and have also lowered their rates and amount of down payment needed in an effort to prop up the ailing Real Estate markets across the country.

4) And miracles of miracles,  Mars Hill has voted in alcohol sales.  For the first time ever we can go to the local store and buy either beer or wine!!!  It will be interesting to see what effect this has on the area, but everyone I have talked to seems very excited about the prospects.

5)Also in Mars Hill news, Ingles is slated to open the doors on its new grocery store in about 10 to 11 months.  This another huge boost for locals who have been suffering with a woefully inadequate store for many years.  Thanks Bob…..

Just a couple of thoughts as sit and watch the SNOW coming down here in Madison Co. 

Brian