The Sold Show is where you can learn all about the real estate market in Cherokee County. It includes Murphy NC, Brasstown NC, Andrews NC, Marble NC, and all the other communities in the area. You can see all the land that has sold, all the homes and houses sold in the past month, market statistics, prices, and much more! It’s the best way to get the latest on what properties are selling and more. Watch the video above and to get all the details, sign up on the above to get everything right to your inbox.
It’s official! I have completed the Murphy NC Real Estate Market Statistics for 2013, we have some great information to share with you! The market showing signs of healing and there’s good news abroad. We send out our SOLD Real Estate Update every 3 months, so be sure to join our update for this information, exclusive market research, and all the SOLD real estate for that quarter – including pictures, prices, and more!
Recent Murphy Area Statistics courtesy of Phyllis Blackmon of the Cherokee County NC Chamber of Commerce:
•$35.3 Million were spent in Cherokee County by tourists in 2013. That’s up 4.2% from 2012.
•Those dollars are directly responsible for approximately 290 jobs.
•Where did they come from? Great question! Based on Chamber of Commerce records:
•37% are from FL
•13% come from GA
•7% come from NC (outside of Cherokee County)
•3% from AL
•2% from foreign countries
•October is the most recent published unemployment numbers and it is down to 9.5%. That is down substantially from a high of more than 16%.
In the real estate world, 2013 provided the best market we’ve seen since the “boom.” 449 homes sold in 2013, which is 30.9% more than 2012, 53.2% more than 2011, and 61.5% more than 2010. That is huge improvements! You’ll see the figures and sales in the attached chart which includes monthly sales and a chart so you can see activity by each month. It’s a great way to notice trends of which months are busiest. Bear in mind the activity reflects contracts from 30 days earlier. So a closing in March most likely originated from February and so on.
You’ll also notice little change in the average price of houses that are selling. This chart indicates the price point of the average buyer is purchasing at. Even though this number continues to stay at the same levels, we’ve noticed substantially more home sales in most every price point of the market place, including the $200,000+ range. That particular segment of the market struggled for several years to have sales of any volume and we have seen more than in any year since about 2008/09. That’s great! And one question that always still looms is regarding foreclosures. There are still foreclosures in the marketplace, and they currently make up only 17.7% of house sales. The rest are traditional folks selling their property.
CLICK HERE to Subscribe to Our Quarterly SOLD Update! When you’re a subscriber, here’s where you would see ALL the houses that sold.
Land sales continue to remain on par with what they have for a number of years now. Each quarter average between 9-14 sales per month while inventory remains high approaching 800 parcels available for sale. Even at that, inventory has reduced substantially from a high of 2,701 parcels in Q3 of 2008. As time moves on, this market will rebound especially as house prices recover/rise or if available inventory isn’t desired and building becomes even more attractive.
Click Here to Subscribe to Our Quarterly SOLD Update! When you’re a subscriber, here’s where you would see ALL the land that sold. Pictures, prices and more are included!
Status of RE/MAX Mountain Properties and The Poltrock Team
It’s been an exciting year at RE/MAX! We’ve had several developments over the year. Here’s some great facts:
•RE/MAX Sold 310 transactions making up 35.47% of the local real estate market! That’s way more than any other company. See REMAX Market Share Report 2013 for more details.
•The Poltrock Team sold 91 transactions in 2013, 71 in 2012, 64 in 2011, and 59 in 2010. That’s impressive considering the average Realtor closes only 12.
•We recently welcomed Donna Srabian as The Poltrock Team’s Buyer Specialist. She works only with buyers to focus on selling your property! She’s excellent.
•Want to hear what folks are saying about us? Check out our Testimonials.
We very much appreciate your business and thank you for the opportunity to work for you. If you are considering selling your property and would like to know what the impact of today’s market is on your specific property, contact us today! I hope you’ve enjoyed our SOLD Real Estate Update and don’t forget to subscribe to our update to receive our EXCLUSIVE market statistics too!
Foreclosures have become a hot topic in the national real estate market, and that is just as true for Murphy NC. We’ve been fortunate – we don’t have nearly as many foreclosures in Cherokee County NC as much of the country does. The good news is they are still out there and you can still buy them at great prices.
Are you looking to buy a foreclosure in Murphy NC?
Then there’s a few things you need to know before you look any further.
- There’s no way to get a full list on by searching the Murphy NC MLS on your own. Finding them is rather obscure on my end and almost impossible on your end. If you’d like to a full list of the active foreclosures here, email me now (Copy and Paste into your email program JohnPoltrock@gmail.com). I will respond with a link to all the current ones so you can be up-to-date and save a ton of time.
- Banks expect you to be prequalified for financing before you even make an offer. If you’re serious about buying a foreclosure, the very first thing you need to have prepared before you even open the door of a foreclosed house is your financing. Banks won’t even look at your offer in almost every case until they know you have the means to buy it. Simply put, have your financing ducks in a row or buy it in cash. Need financing? Go to our Murphy NC recommended contractor list, or “Gotta Guy List” as we call it, to see several excellent local lenders who can get you started.
- Expect multiple offers. There can’t be a “I’m not getting in a bidding war” attitude when you’re buying a foreclosure. Be prepared for multiple people to be looking at the same property while you’re shopping. The last two foreclosures we sold (one of which we bought) had multiple offers on them and it’s just part of it. It doesn’t mean you have to pay too much, and that’s where we’ll help you.
- Act fast. This somewhat ties into the last one. The best way to avoid multiple offers is to not waste time. If you find a house that fits what you want to buy – do it! Waiting around to make a decision, consulting lots of friends, and anything else that takes up a lot of time is a good way to loose the house. Remember – there’s lots of people looking at them and you want to beat them to it. There’s a lot to the “early bird gets the worm” philosophy here.
- Expect to swing a hammer. By that I mean you’ll more than likely have to do work to it. If you’re not in to working on a house or are unwilling to invest more money back in to it, foreclosures may not be for you. You don’t want to buy one with structural issues. Cosmetic problems are okay and most foreclosures will have their fair share of them. I can tell you a few stories about our house and the challenges it had – and they are all fixable!
- There’s no dream homes here. Don’t get me wrong on this one – our house is now rapidly becoming a dream home to us. That’s because we’re putting “our” touches on it just like you will do to your foreclosure house when you buy it. Until that point, you won’t walk in and have that “This is it!!!” feel. You can’t expect to find “The One” when you’re shopping for good deals. You’re going to have to settle on some things, so have your list of things that you have to have and things you would like to have and can live without. If it fits the parameters you set, than you’re good! Just remember, you start working on it and putting your own personal touches in it, it will become a dream home for you once you’re finished with it.
- Don’t exclude non-foreclosure homes from your list. There are lots of great properties out there at even better prices. Keep an eye out for ones that are not bank owned too because you can sometimes find sellers that have to move a house. We’ll be happy to help you find these, too.