What’s Happened to the Value of My Real Estate in Murphy, North Carolina?

Real estate in Murphy NC, as for most of the United States, is a high topic of conversation. Whether it’s about an individual home or land or the prices of them, you can expect to hear about it at any local hangout. Now, most folks don’t walk around and openly say, "my home is worth a gajillion dollars," but they do watch what’s selling and for sale in their neighborhood.What's the value of my Murphy NC Real Estate???

So it’s natural to wonder, "What’s happened to my property value over the last few years?"

Since Murphy, NC doesn’t have subdivisions with 100’s of the exact same house, it’s difficult to track a definite percentage of how much our market has adjusted. Fortunately, there’s still a good way to calculate it based on a popular style of houses. Like most areas, we do have a popular style. And nope, it’s not stucco, brick, or any of the common houses you see in primary markets. We have a popular home style called the chalet.

Because we have many chalets for sale and in turn help families buy a lot of them, we can get a rough idea of what the market has done. Without a doubt, these numbers will not apply to every home – especially unique ones. This is intended to give you a benchmark.

Market Summary

 

2006

2007

2008

2006 to 2007 Difference

2007 to 2008 Difference

2006 to 2008 Difference

List Price

 $253,031

 $269,155

 $237,730

 Up 6.37%

 Down 11.68%

 Down 6.05%

Sales Price

 $246,777

 $259,757

 $217,813

 Up 5.26%

 Down 16.15%

 Down 11.74%

List to Sale Ratio

 97.37%

 97.01%

 91.99%

 Down 0.37%

 Down 5.17%

 Down 5.53%

Days on Market

 111

221

225 

 Up 99%

 Up 1.8%

 Up 102.70%

*Based on an average of all 2/2 chalets on a basement sold in Cherokee County in the given year as sold across the Mountain Lakes Board of Realtors®. You can view more market statistics on our Murphy NC State of the Market Reports.

The large and short of it is that we have seen sale prices decline about 11.74% over the last 20 months. The stock market has lost 13.3% in 2008 alone (based on the DJIA index). With that said, it appears your money is far more stable and secure in the tangible asset of real estate rather than stocks.

This chart is a great indicator as to how the market trends. The year 2007 was our transition year where values began to decline. One of the largest indicators as to this is that days on market practically doubled while prices still increased. This indicates that although there was appreciation, it took longer for buyers to find and buy homes on the market. Since days on market is remaining quite stable, it shows a strong sign our market is reaching the "trough" (or bottom) of the business cycle.

Since it looks like we’re riding the wave at the bottom of the market, now is a great time to buy. You can purchase your real estate at low prices that we haven’t seen in years. If you’re waiting for the market to go up, you’ll miss out on huge amounts of appreciation that’s in store for us soon.

Are you considering selling and want to know what this data means for your individual property? Contact your local Cherokee County Realtor® for a free market analysis to interpret what your home is now worth. If you’d like us to research it for you, please feel free to call us or use our FREE Online "What’s My Home Worth?" form. 

Are you considering buying and want to find the best buy on the market? Be sure to contact a local Realtor®. They’re the ones living and breathing real estate and you should rely on their expertise. You can also call us to find your new property or use our FREE Online "Find My Dream Home!" form.

Written By: John Poltrock, your Cherokee County Certified Residential Specialistwww.MyMurphy.comCall Toll Free (866) 687-7496 and demand The POLTROCK TEAM! – Real Estate in the Mountains of Murphy, North Carolina – Email me at JohnPoltrock@gmail.com – RE/MAX Mountain Properties

*Watch for this article in the upcoming issue of the Cherokee Scout’s Country Roads, which is the *new* real estate section of Cherokee County’s newspaper. Be sure to subscribe to the Scout newspaper and have it delivered at your home for 38 cents per week!

Chalets Are Popular in Murphy NC Real Estate. What exactly is a Chalet?

Chalets are a very popular style of homes in Murphy, NC real estate. They are the perfect styled home for capturing our renowned long range mountain views or just overlooking your estate in the woods.

According to Merriam-Webster’s Dictionary, a chalet is, “a Swiss dwelling with unconcealed structural members and a wide overhang at the front and sides.” According to Wikipedia, a chalet was originally referred to the hut of a herder. Well, things have certainly come a long way from the days of the herder to today’s first-class version.

Chalet HomeThere are several characteristics that make a chalet a chalet in Murphy:

  • Large Fixed Pane Glass Windows in the Front
  • Vaulted Ceilings
  • Open Floor Plan with the living room/great room in the front
  • A Large Loft, commonly where the master bedroom is
  • Steep Pitched roof in the front with “bump outs” over the loft with a far less pitched roof in that section
  • Covered porches on either side
  • and you’ve really got to have a fireplace 

Builders today are constantly adding their own unique twist and making each one just a little bit different. Truth is, a classic is simply a classic. Just like every home in any market, you can upgrade a chalet till you heart is content. It offers a lot of flexibility, so its a lot of fun to make it your own home.

If you are considering buying or building a chalet, here are a few considerations you should take into account:

  • Chalets with a basement (finished or unfinished) sell much better and provide you with much more usable space. Walk-out basements are common.
  • Be sure to plumb your basement and go ahead and upgrade your heat pump to handle the basement should you or someone else decide to finish it.
  • Privacy is key in the loft. If you’ll be by yourself a lot, don’t worry about this part. If you entertain a lot and your master bedroom is in the loft, you won’t have any privacy.  If you want your own privacy, upgrade a bit and get a larger chalet with a blocked off loft.
  • Dual masters with a suite in the loft and a suite on the main level is a major plus.
  • Make sure your great room is large enough. I’ve seen small great rooms devastate the sale of a home. When it doubt, add a bit of room.

Would you love to have your own Chalet in the Mountains of Murphy, North Carolina?

Then use our Murphy NC Dream Home Finder and see what’s available that fits your needs. Be sure to mention you love chalets! We have many opportunities for you!

You can even search the Murphy NC MLS of Homes for Sale directly from our website.

Do you own a chalet and want to sell it?

Then use our Home Worth form and let us do the work for you! We specialize in chalets and can put our expertise to work for you. We can share with you your home’s worth and our proactive marketing plan that will get your home sold.

John Poltrock, your Murphy NC Certified Residential Specialistwww.MyMurphy.comJohnPoltrock@gmail.comCall Toll Free (866) 687-7496 and demand The POLTROCK TEAM!!!

Testimonial from John’s Parents

Jack and Tina PoltrockJohn’s parent’s just bought a home in Eagle Mountain in the Martins Creek Community of Murphy, NC. Here’s what they had to say about their experience:

We bought a mountain chalet in February 2008.  The Poltrock team did an outstanding job of helping us through the process.  Both are outgoing with excellent ties to the community.  We found them to be honest, hard working and willing to listen. They showed us several properties after listening to what we were looking for.  They are a young couple with a strong focus on customer service.  If anyone is interested in purchasing land or a mountain home in North Carolina or Georgia, my husband and I strongly recommend the Poltrock team.
Tina Poltrock
Fayetteville, North Carolina

Thanks mom! It’d be terrible if my own mother couldn’t endorse The POLTROCK TEAM! Although I have to admit, the way you wrote it, I wouldn’t have known it came from my own mother. We hope you enjoy your investment for years to come!

John and Jessica Poltrock – The POLTROCK TEAM – www.MyMurphy.comJohnPoltrock@gmail.com – Homes and Land in the Blue Ridge Mountains of Murphy, NC – Call Toll-Free (877) 837-3002 and demand The POLTROCK TEAM!!!

SOLD!!! 1595 Tarheel North in Murphy, North Carolina

Tarheel North is a great neighborhood in the Murphy NC area! Known for being a prime real estate area, there’s many opportunities available!

This home is 2 bedroom, 2 bath home on a full unfinished basement with a very pretty mountain view! Modified Chalet styled home right on a state maintained paved road.

Thinking about selling? Click Here to view more recent success stories and read what real folks have to say about The POLTROCK TEAM. 

John and Jessica Poltrock – The POLTROCK TEAM at RE/MAX Mountain Properties – www.MyMurphy.comJohnPoltrock@gmail.com – For Outstanding Results, Call Toll-Free (877) 837-3002 and demand the POLTROCK TEAM!

New Foreclosure to Hit the Market!!!

It’s funny I just finished writing an article about foreclosures just earlier today, and wham! A great one hits my desk!

If you’re seriously interested in this great home, be sure to download the information sheets below, and then call me at toll free (866)867-7496 and ask for John.

It’s a HUGE opportunity for someone looking to have a mountain home or for an investment to finish and resell! Basics are its a 2 bedroom, 2 bath chalet home with a full basement on +/- 1.04 acres located in the Ranger area of Murphy, NC. I’ll tell you all the details of what remains to be done to it and we’ll go from there!

I’ll can only share pricing information on the phone, so again, call me toll free at my office or direct at (828) 557-2270.

If you want to receive news and more investment opportunities like this, be sure to SUBSCRIBE to our blog by clicking here. We’re looking forward to helping you make a great investment in the mountains of Murphy NC!

This home is no longer available. Please check out our website for all the active homes and land for sale.

John and Jessica Poltrock – The POLTROCK TEAM at REMAX of Murphy NC – www.MyMurphy.comJohnPoltrock@gmail.com – Call Toll Free (877) 837-3002 and demand the POLTROCK TEAM!

*SOLD* 4/3 Chalet Home on Sunset Mountain!

 The POLTROCK TEAM did it again! This property is now sold!

 

 Property Address: 981 Sunset Lane; Murphy, NC 28906

Click Here for the Current Price and Additional Photos

As part of our continuing YouTube campaign to use video tours instead of the old school virtual tours, we bring you this great new home! Video is a far superior way of viewing a home because it shows you much more of the real thing than a virtual tour which is much more selective and only shows what the agent wants you to see.

So rather than me tell you about the stainless steel appliances, amazing long range mountain view overlooking Brothers Restaurant and more, the basement, the 2 car garage, chalet style, loft, high speed Internet, and more, I’ll just let you watch the video to your right! Enjoy!

Want more to continue to watch as they become available? Then subscribe to our blog on the right side tool bar or to our YouTube Channel at www.youtube.com/mymurphycom

John and Jessica Poltrock – RE/MAX Mountain Properties – The POLTROCK TEAM at REMAX in Murphy NC – Real Estate for sale – Homes and Land in the mountains of Murphy – www.MyMurphy.comJohnPoltrock@gmail.comCall toll free (877) 837-3002 and demand the POLTROCK TEAM!