I love sharing this information with my clients. This is a snapshot of our current market conditions in Western North Carolina based on the data from the Western North Carolina Multiple Listing Service. I focus mainly on Henderson, Buncombe, and Transylvania Counties. If you would like information about other surrounding counties, let me know and I will be glad to provide.

Henderson County
73 – Total Number of Units Closed
Here is the breakdown:
65 – Single Family Residence
6 – Condos
2 – Townhomes
0 – Pre-Construction

For Single Family Residences in Henderson County
The average list price for November in Henderson Co. was $308,013
The average sales price for November in Henderson Co. was $272,231
The median list price for November in Henderson Co. was $188,850
The median sales price for November in Henderson Co. was $182,000
The average days on market were 174. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Buncombe County
137 – Total Number of Units Closed
Here is the breakdown:
113 – Single Family Residence
15 – Condos
9 – Townhomes
0 – Pre-Construction
1 – Residential Auction

For Single Family Residences in Buncombe County
The average list price for November in Buncombe Co. was $306,371
The average sales price for November in Buncombe Co. was $285,096
The median list price for November in Buncombe Co. was $224,900
The median sales price for November in Buncombe Co. was $214,000
The average days on market were 151. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Transylvania County
28 – Total Number of Units Closed
Here is the breakdown:
27 – Single Family Residence
1 – Condos
0 – Townhomes
0 – Pre-Construction

For Single Family Residences in Transylvania County
The average list price for November in Transylvania Co. was $362,556
The average sales price for November in Transylvania Co. was $318,789
The median list price for November in Transylvania Co. was $274,500
The median sales price for November in Transylvania Co. was $268,000
The average days on market were 180. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).
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This information is critical in understanding our local market. It is important as you make decisions about buying and selling.

Henderson County
72 – Total Number of Units Closed
Here is the breakdown:
65 – Single Family Residence
4 – Condos
3 – Townhomes
0 – Pre-Construction

For Single Family Residences in Henderson County
The average list price for October in Henderson Co. was $211,786
The average sales price for October in Henderson Co. was $192,898
The median list price for October in Henderson Co. was $184,900
The median sales price for October in Henderson Co. was $170,000
The average days on market were 177. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Buncombe County
163 – Total Number of Units Closed
Here is the breakdown:
131 – Single Family Residence
21 – Condos
11 – Townhomes
0 – Pre-Construction
1 – Residential Auction

For Single Family Residences in Buncombe County
The average list price for October in Buncombe Co. was $265,836
The average sales price for October in Buncombe Co. was $246,270
The median list price for October in Buncombe Co. was $209,000
The median sales price for October in Buncombe Co. was $199,000
The average days on market were 127. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Transylvania County
24 – Total Number of Units Closed
Here is the breakdown:
23 – Single Family Residence
1 – Condos
0 – Townhomes
0 – Pre-Construction

For Single Family Residences in Transylvania County
The average list price for October in Transylvania Co. was $381,978
The average sales price for October in Transylvania Co. was $345,822
The median list price for October in Transylvania Co. was $275,000
The median sales price for October in Transylvania Co. was $250,000
The average days on market were 322. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).
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This information is critical in understanding our local market. It is important as you make decisions about buying and selling.

Henderson County
96 – Total Number of Units Closed
Here is the breakdown:
81 – Single Family Residence
9 – Condos
6 – Townhomes
0 – Pre-Construction

For Single Family Residences in Henderson County
The average list price for September in Henderson Co. was $241,741
The average sales price for September in Henderson Co. was $223,447
The median list price for September in Henderson Co. was $214,900
The median sales price for September in Henderson Co. was $199,900
The average days on market were 183. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Buncombe County
176 – Total Number of Units Closed
Here is the breakdown:
154 – Single Family Residence
14 – Condos
7 – Townhomes
0 – Pre-Construction
1 – Residential Auction

For Single Family Residences in Buncombe County
The average list price for September in Buncombe Co. was $274,629
The average sales price for September in Buncombe Co. was $255,020
The median list price for September in Buncombe Co. was $225,000
The median sales price for September in Buncombe Co. was $216,000
The average days on market were 144. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Transylvania County
22 – Total Number of Units Closed
Here is the breakdown:
19 – Single Family Residence
3 – Condos
0 – Townhomes
0 – Pre-Construction

For Single Family Residences in Transylvania County
The average list price for September in Transylvania Co. was $232,300
The average sales price for September in Transylvania Co. was $212,113
The median list price for September in Transylvania Co. was $210,000
The median sales price for September in Transylvania Co. was $195,000
The average days on market were 189. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).
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This information is critical in understanding our local market. It is important as you make decisions about buying and selling.

Henderson County
107 – Total Number of Units Closed
Here is the breakdown:
89 – Single Family Residence
11 – Condos
7 – Townhomes
0 – Pre-Construction

For Single Family Residences in Henderson County
The average list price for May in Henderson Co. was $225,918
The average sales price for May in Henderson Co. was $212,833
The median list price for May in Henderson Co. was $189,900
The median sales price for May in Henderson Co. was $184,000
The average days on market were 156. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Buncombe County
217 – Total Number of Units Closed
Here is the breakdown:
173 – Single Family Residence
30 – Condos
14 – Townhomes
0 – Pre-Construction

For Single Family Residences in Buncombe County
The average list price for May in Buncombe Co. was $268,228
The average sales price for May in Buncombe Co. was $207,000
The median list price for May in Buncombe Co. was $222,000
The median sales price for May in Buncombe Co. was $250,662
The average days on market were 123. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Transylvania County
30 – Total Number of Units Closed
Here is the breakdown:
30 – Single Family Residence
0 – Condos
0 – Townhomes
0 – Pre-Construction

For Single Family Residences in Transylvania County
The average list price for May in Transylvania Co. was $383,901
The average sales price for May in Transylvania Co. was $336,997
The median list price for May in Transylvania Co. was $244,586
The median sales price for May in Transylvania Co. was $222,500
The average days on market were 140. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).
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This information is critical in understanding our local market. It is important as you make decisions about buying and selling.

Relocation Cost, Home Insurance, and Color Correction

Your Home Newsletter, June 2010

Continued on Page 2

Henderson County
98 – Total Number of Units Closed
Here is the breakdown:
80 – Single Family Residence
11 – Condos
7 – Townhomes
0 – Pre-Construction

For Single Family Residences in Henderson County
The average list price for April in Henderson Co. was $245,672
The average sales price for April in Henderson Co. was $227,152
The median list price for April in Henderson Co. was $202,400
The median sales price for April in Henderson Co. was $187,500
The average days on market were 229. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Buncombe County
235 – Total Number of Units Closed
Here is the breakdown:
203 – Single Family Residence
16 – Condos
14 – Townhomes
2 – Pre-Construction

For Single Family Residences in Buncombe County
The average list price for April in Buncombe Co. was $252,031
The average sales price for April in Buncombe Co. was $235,562
The median list price for April in Buncombe Co. was $199,000
The median sales price for April in Buncombe Co. was $187,000
The average days on market were 131. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Transylvania County
29 – Total Number of Units Closed
Here is the breakdown:
27 – Single Family Residence
2 – Condos
0 – Townhomes
0 – Pre-Construction

For Single Family Residences in Transylvania County
The average list price for April in Transylvania Co. was $303,530
The average sales price for April in Transylvania Co. was $265,448
The median list price for April in Transylvania Co. was $175,000
The median sales price for April in Transylvania Co. was $162,000
The average days on market were 150. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).
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This information is critical in understanding our local market. It is important as you make decisions about buying and selling.

On Friday, November 6, 2009, the President signed into law:

H.R. 3548, the “Worker, Homeownership, and Business Assistance Act of 2009,” which provides an additional 14 weeks of emergency unemployment compensation (EUC) in all States and six additional weeks of EUC in very high unemployment States; extends the Federal Unemployment Tax Act surtax through June 30, 2011; extends the $8,000 First-Time Homebuyer Tax Credit through April 30, 2010, and provides a $6,500 credit to certain other homebuyers through April 30, 2010; increases from two to five preceding years the period for which businesses can offset net operation losses in 2008 and 2009 against income; and makes certain other changes to Federal unemployment programs and tax laws;

To recap the Homebuyers Tax Credit Changes

* Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
* Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Who Qualifies for the Extended Credit?

* First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
* Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.

The maximum allowable credit for current homeowners is $6,500.

How is a Buyer’s Credit Amount Determined?

Each home buyer’s tax credit is determined by tow additional factors:

1. The price of the home.
2. The buyer’s income.

Price

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040. If you need a referral for a local tax professional call me at (828)393-0134.