The Poltrock Team’s SOLD Real Estate Market Update for Murphy NC – Mid January 2010 Edition

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Holy cow it’s hard to believe it’s already 2010 and January is flying by. With that said, there’s lots of great things going on in Murphy NC real estate right now. In fact, for number nerds out there like me, you’ll love this edition of our real estate market update. For those of you who want the information quick and conveniently, I’ll give you a fast summary before I get to all the dirty details of what happened. As always, you’ll be able to click the links below to see what real estate has sold, for how much, pictures, and much more!

2009 has proven to be a great year for improvements here in Cherokee County. In fact, 2009 has all the indicators that the market is improving and is doing all the right things. I’ll follow with more detail later, but overall in comparison with 2008, 2009 had more sales, properties sold faster, and the amount of properties available for sale was less. These three items are absolutely essential to stabilizing a real estate market, and that’s exactly what has happened. I believe with every bone in my body than 2010 will be even better than 2009. I’m expecting great things.

You must be a subscriber of The POLTROCK TEAM’s
Murphy NC Bi-Weekly Real Estate Update to get the Link to
the sold properties for January 2010 and December 2010.
See sold prices, pictures, and descriptions of what’s sold!
Email John at JohnPoltrock@gmail.com and join our SOLD Update for Free!
 
 
Now on to the facts of the real estate market – no fluff, no bull, just facts. Forget what you hear on the radio, watch on the TV, or read on 2010 - Year of Growth!!!the internet. Here’s statistical facts of what happened in 2009 vs. 2008.

Residential Properties (Homes)

  • Sales increased every single quarter excluding Q1 (first quarter). In fact Q4 (fourth quarter, and so forth) saw an astounding increase in value of 53% over 2008! That’s impressive by anyone’s standards and indicates buyers are becoming more willing to buy, which is the most important factor.
  • The supply of homes decreased every single quarter across the board. The less supply there is on the market, the more demand will go up.
  • Days on Market for sold properties decreased in every quarter, which means homes sold faster than in 2008.
  • Average Home Selling Prices decreased every quarter. The average price of homes selling in Cherokee County fell every quarter indicating prices have fallen and buyer’s price bracket/comfort zone has shifted lower in 2009.
  • The list to sale price ratio held steady. The average home sold for 90-92% of list price in 2008 and 2009. This is a solid number when many real estate markets across the country fell significantly below our range.

Land

  • Volume had mixed results. Half the year was up from 2008 in number of transactions, half the year was down. Q1 represented the worst quarter in land transactions we’ve seen averaging a mere 7 transactions per month. Once Q2 hit, transactions jumped back into double digits with similar results the rest of the year.
  • Like homes, the supply of land decreased every single quarter across the board. The less supply there is on the market, the more demand will go up.
  • Again like homes, the Average Land Selling Prices decreased every quarter. The average price of land selling in Cherokee County fell every quarter indicating prices have fallen, and for land, they have. There are more than 2,000 parcels of land for sale in Cherokee County, and prices must be aggressive to get them sold.
  • The Average Days on Market fell in every quarter except Q3. We believe this was caused because of land prices falling and property owners realizing the trend dropped some prices and caused buyers to snatch them up faster than before. This is a great thing – they’re selling!

We also have completed the Market Absorption Report, and to get your free copy, you have to join our free Market Update via email! It’s chock full of market information, so email me at JohnPoltrock@gmail.com to join and get your free copy.

January has only 4 sales recorded on the MLS system as of today. With that said, I know there is a lot of real estate pending right now. Every RE/MAX Realtor in Murphy is experiencing quite a busy month. There’s a lot of people planning to come in the Spring! Right now we are doing a lot of prospecting to get them here so they can find the property they want to buy. There’s a lot of buyers on the sidelines looking to get in to the market!

For all of you who helped make 2009 a great year, Thank You. Without you, our business doesn’t exist. I know 2010 will be an outstanding year and am looking forward to it. In fact we’ve set our goals at twice that of 2009 – a rather lofty undertaking. We will do it and with your help! If there’s anything we can do for you, or if you have any referrals who need real estate help, please give us a call. As you know, we’re never too busy for your business.

Poltrock Team at REMAX Murphy NC Logo

Murphy’s #1 Real Estate Team

Contact us Today! Toll-Free 1-866-687-7496 – JohnPoltrock@gmail.com – www.MyMurphy.com

Read Our Past Murphy NC Real Estate Market Updates

Deed Restrictions and Zoning in Cherokee County and Murphy NC

Posted by I Love Murphy on

Many parts of the United States have some sort of land use controls on the real estate to make things uniform, similar, or prevent problems before they ever occur. We commonly get asked, how does zoning work in Murphy NC?

Zoning

Most of Cherokee County has NO zoning. The only part of the county that does have zoning is the Murphy NC City Limits, which are actually quite small compared to what many people are used to. The City Limits is broken into several different zones like commercial and residential with varying levels of each. You can obtain a copy of the zoning ordinances for the City Limits of Murphy right here on our website.

Deed Restrictions

Mostly, the county is controlled with deed restrictions which govern, usually, things that cannot be done on a property. They are said to “run with the land,” meaning they cannot be altered and regardless of who owns it, the restrictions remain intact (unless they expire).

Generally speaking, deed restrictions are very basic in Murphy with the main intention being to retain property values and keep places looking nice. You usually find them in subdivisions and communities. We don’t really have any with super-strict requirements like some horror stories we hear from other places – thank goodness! Many of our common restrictions are:

  • No mobile homes, manufactured homes, and in some cases, modular homes.
  • No junk cars or untagged or unlicensed vehicles.
  • No used appliances to be left on property and all trash to be in refuse containers.
  • Certain square footage limitations. Our common range is from 800-1400 square feet minimum, depending on the community.
  • Many more recent ones reference “Earth Tone” colors to be used on the house so you don’t have a random pink, purple, or yellow house in a cabin community.
  • No livestock/farm animals – sorry! In some cases, your dream of a llama farm is no more! 😉
  • Must complete a home within 1 year of beginning building

That gives you a good idea of many of the common restrictions we see. In fact, you can download a copy of the Brookgreen restrictions by clicking here. Although older, many of our newer restrictions say the same basic thing.

Unrestricted

You can do anything you like, so long as its legal, with unrestricted real estate. An unrestricted parcel may be perfect for you if you’d like to: 

  • Have an RV or camper on your land for extended periods of time
  • Build a house over a long time (over a year’s time)
  • Have livestock or other animals
  • Run a commercial business out of the “normal” areas
  • Simply not have to worry about someone else’s rules

Larger tracts of land (3 or more acres) are not very hard to find that are unrestricted. Smaller parcels less than three acres can be more challenging to find depending on the area you want to be.

Looking for a home or land in Murphy NC? Let The POLTROCK TEAM find it for you! You can Search Our Murphy NC Listings, Search the entire Murphy NC MLS for Free, or complete our “Dream Home Finder” for Murphy NC Real Estate and we’ll find it for you!

John Poltrock – Certified Residential Specialist – The POLTROCK TEAM at REMAX Mountain Properties – www.MyMurphy.com – JohnPoltrock@gmail.com – Call Us Toll Free at 1-866-687-7496

Stunning Equestrian Friendly Fine Home for Sale In Andrews NC on Almost 6 Acres

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Welcome to the finest residential real estate in the mountain valley of Andrews NC for sale! This home and property features almost 6 stunning acres that’s equestrian friendly, a two car garage, storage building, waterfall feature, underground pool, fencing, and even a 3 stall horse barn. It even has a stunning mountain view!

The home is a 3 bedroom, 2 ½ bath, with a bonus room and even features 4 fireplaces! Coming in the main door is like stepping into a perfectly decorated home featured on Homes & Garden TV or Southern Living magazine. Inside you’ll find a large living room, spacious kitchen, and enormous pantry and laundry room, and a master suite that’s truly stunning! It is complete with its own gas log fireplace, Jacuzzi type whirlpool bathtub, separate shower, and a walk-in closet that will make anyone have closet envy!

Downstairs is an excellent place to spend your time with a supersized den, another fireplace, a built in desk, kitchenette, 2 bedrooms, and a bonus room that you can use for just about anything you like! It all leads directly to the swimming pool, and that’s a gorgeous spot to swim the day away.

The property is manicured delightfully with mature plants and trees and looks like a dream. This home and property is genuinely a work of art and you absolutely must see it in person!

We’re Sorry. This Home is no longer available. Check out all our homes and land for sale in Murphy NC.

Call The POLTROCK TEAM TODAY! Toll Free at 1-866-687-7496 – www.MyMurphy.com – JohnPoltrock@gmail.com – REMAX Mountain Properties

John and Jessica Bring Superior Education to the Murphy Real Estate Market

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Murphy, NC — March 21, 2008 — John and Jessica Poltrock have just returned from their stay in Greensboro, NC where they completed a highly specialize course in residential real estate buyer sales strategies conducted by the Council of Residential Specialists of the NATIONAL ASSOCIATION OF REALTORS.

The course is one in a series of professional education sequences required to qualify for the coveted Certified Residential Specialist (CRS) designation. Learn why you should demand to work with a CRS and how we work.

"The growing importance of negotiation as well as sales strategies in today’s residential real estate market were addressed by the instructor of the course," said Jessica. "The many and varied needs of the buyer, who is making what is probably the largest single purchase of a lifetime, is dealt with in this advanced course."

The segments of the course included counseling techniques, understanding human behavior, and professional knowledge of the required steps in the real estate sales sequence.

The Council of Residential Specialists Courses are presented throughout the U.S. in affiliation with the NATIONAL ASSOCIATION OF REALTORS, as part of its on-going program of promoting professionalism of the residential sales associates.

The completion of this course leaves John less than three months from obtaining CRS Designation for paperwork processing. Jessica lacks a mere one course.

Want to work with The POLTROCK TEAM? Put them to work for you! Use our Dream Home Finder, use our website to search Our Listings or the MLS, email them, or just call them at (877) 837-3002.

When you want results, demand The POLTROCK TEAM! John and Jessica Poltrock – www.MyMurphy.com – JohnPoltrock@gmail.com – Call Toll-Free (877) 837-3002 and demand The POLTROCK TEAM!

State of the Market Address – Cherokee County Market Report

Posted by I Love Murphy on

So far this year, we have been in the seasonal slow-down that affects our market mostly in January, February, March, and the beginning of April. With that said, sales traditionally drop to half or less of what the normal season is.

This year is no different than any other. The sales in all of Cherokee County (including Murphy, Andrews, Ranger, Hiwassee Dam, Hanging Dog, Marble, and other communities in Cherokee) have taken a toll, but have seen a 31% increase since the beginning of January – not bad when it’s 31 degrees outside today! 

Here are some market numbers that you would want to know. If you have any questions as to the meaning of these numbers, please feel free to ask.

  • These numbers are over the past month
    • 21 Homes have closed
    • $60,000 – Lowest residential sale
    • $155,000 – Average residential sale
    • 245,000 – Highest residential sale
    • 90.15% – Average list to sell ratio
    • 203 – Average days on the market
  • These number are averaged out over the past 4 months to show a "trailing" average
    • 26.5 Homes have closed
    • $187,020 – Average Residential Sale
    • 93.28% – Average list to sell ratio
    • 219 – Average days on market
  • These numbers are for land over the past month – this includes everything from lots to large acreage
    • 21 Land tracts have closed
    • $74,805 – Average land sale
    • 79.9% Average list to sale ratio
    • 213 – Average days on market

These numbers will become more and more useful – especially when they are reviewed from a quarterly and greater basis.

How does this relate to you, your property, and your plans? Ask! Tell us your situation and we will be happy to translate these raw numbers to what they will mean in your particular situation. Then when you’re ready, list with the best and you’ll sell before the rest!

John and Jessica Poltrock – The POLTROCK TEAM at RE/MAX of Murphy NC – Real Estate in the mountains of Murphy, NC – www.MyMurphy.com – JohnPoltrock@gmail.com – Call (877) 837-3002 and demand the POLTROCK TEAM!