The State of the Market Address – June 2007

As the second installment of the State of the Market, we venture
into what has happened in the month of June for the market here in
Murphy. North Carolina has been overall very fortunate in its ability
to retain a stable market in relation to many other states – especially
Florida. The majority of our second home buyers come from the Florida
area, and we have seen an indirect effect on our market. Many of the
younger investors from Florida who made significant amounts of money in
real estate have been tapering off. We’ve seen the “normal” buyers who
have historically bought vacation and full time residences in both
Murphy and Andrews coming back and regaining their strength as our
primary buyers.

In a brief summation, there were 144 total
transactions that were not a result of hand-me-downs, quitclaims, or
other non-cash transactions. Of those 144 transactions, land
represented 87 total and homes were 57. Land was down by six
transactions while homes were up by 10 transactions from May.  28
homes and 36 land tracts were transferred by the Mountain Lakes Board
of Realtors. From May, we have seen a 2.9% increase in total transfers.
From the beginning of the year, we’re at a 9.1% increase.

2007
is turning out to be an excellent real estate year. Historically, our
numbers are up significantly even though some consumer confidence seems
to be flaky. What I find
to be one of the most interesting factors is that the largest real
estate investors are buying while the market is staying “down.” They’re
going against the grain and are going to find the greatest increases in
their investment when buyers begin to come back in full force.

Although
Murphy is small drop in the bucket in America’s real estate market,
it’s great to see the media is over exaggerating the results of the
market. I’m sure many other agents and investors are experiencing and
finding these same results. For those of us who enjoy and love what we
do, this market will prove to be an excellent change of pace and a challenge that we are sure to enjoy.

 John Poltrock – REMAX Mountain Properties in Murphy NC – www.MyMurphy.comJohnPoltrock@gmail.com – 1-866-687-7496

The State of the Market Address – May 2007

The President is required to give a State of the Union Address, and it’s interesting to think that even something as local as a real estate market deserves such an "address."

Murphy, North Carolina has long been a second home market and will continue to be so. With amazing natural beauty, more than 93,000 acres of US Forest Service, mountain views, and much more, it’s allure runs nationwide. There’s property owners from here all the way to California.

Cherokee County saw 140 transactions in May, all of which came with some monetary consideration. This figure does not include inheritances, give-a-ways, or any of the such. Of that 140, 47 were houses and 94 were land. That’s a great figure averaging out to 1.51 houses and 3 land sales per day. 32 of the homes and 28 pieces of land were handled through the Mountain Lakes Board of Realtors.

Great! Now what does all that mean? Just like the Dow Jones, our transactions vary from month to month. We see a positive uptrend of 9.4% from the month of April.

As the first installment of the "State of the Market," we hope to continue this service and give you valueable data of our market. As financial planning majors, trends mean a lot to us and we’d like to bring them straight to you!