As you all know, home building and real estate is once again booming in Asheville and Western North Carolina. While talking to James Dose, the President of Old North State Building Company in Asheville, he mentioned that he works with a great mortgage lender and construction loan specialist in the area. He then sent us this flier about Asheville Savings Bank, so we thought we would share it with you just in case you are buying or building a home, and looking for this type of service.
It wasn’t but a few years ago, about around 2008, when the real estate market in the Asheville North Carolina area, and all across the country pretty much dropped off of the face of the earth. Home builders were stuck with “Spec Homes” that they could not sell, Real Estate agents had all sellers and no buyers, Banks stopped lending and everyone was broke. Some lost a little, some a lot, some lost everything. It gave us a quick lesson on how to live light, maybe downsize, and hold on tightly to the most important parts of our lives and business. Our priorities became more defined.
Today, the Asheville Home Building, Construction, Remodeling and Real Estate industry is telling a different story, a new story; but this one surely promises a happy ending. Tourism and travel in the area at the moment is growing by leaps and bounds; hotels popping up left and right, pushing commercial real estate development to the next level. Soon the structures that were built out horizontally, will be revisited and rebuilt vertically. When it comes to houses, a caravan of folks are moving to the area from all over the country, making residential real estate once again a hot commodity. Brace yourselves, we are now in the middle of a seller’s market.
We recently talked to Pat and Donna of Keller Williams in Asheville and their team is searching daily for folks that want to sell their homes. Did you hear me? They have buyers and need more houses! If homes cannot be found and the major developers do not build fast enough; the next phase is where buyers turn to land, and build. Rick Ledford of Energy Tech, a home builder that moved to the WNC area from Raleigh during the decline, now has clients lining up for his contracting and consultation services. Jason Muhlenkamp Carpentry had only a couple of home remodeling projects at the end of 2013, and five months later he has hired a big team and has plenty of projects all around Hendersonville, Asheville and Edneyville.
The home building and real estate market in the Asheville area is definitely on the rise. The mountains, quality of life, the beer, the diversity, the people… so many reasons. So who is moving here next? Maybe you.
Welcome to our “Moving To Asheville” series for the Asheville & WNC Real Estate section on the AskAsheville website. Have you moved here from another State or Country? Contact Us so we can interview you. You can tell your story anonymously, or tell everywhere who you are. Meet Alan Rosenthal, who moved from the Trenton New Jersey area, to Asheville North Carolina:
I’m from New Jersey, about 45 minutes from the shore and the mountains. Yes, that area where the sand meets the ocean is called a shore. Our mountains are the top of the same range as where Asheville is situated. So the terrain of Northwest New Jersey is much like here. Up north, I was a private investigator, process server and litigation support specialist as well as a business consultant.
I limited my relocation search to east of the Mississippi and south of New England, except for Colorado where I traveled and researched thoroughly. I almost pulled the trigger in Tallahassee and St. Pete Beach. I looked at Pittsburgh, couldn’t afford gorgeous Telluride and the Four Corners region. There are many beautiful areas in the country.
Asheville wasn’t the best place for me but it is a very nice area that was geographically midway in a market I was serving. I was traveling a lot so the loss of amenities was compensated for on my trips. Beautiful scenery. Easy to get everywhere. On the worst traffic day, it is nothing compared to New York City where I drove as adeptly as a taxi driver. Temperate climate though I do miss the scent of an impending heavy snowfall.
I looked at Asheville first since some friends mentioned it when they heard I was considering a move. I visited for a few days, checked out some living scenarios but wasn’t sure. Over the next 10 months, I traveled extensively. When I came back to Asheville to visit a client, I was told of a condo that was up for rent. By this time, I was tired of traveling so I rented the condo, finished my trip, packed a truck and became a damn yankee.
I organize the Asheville Welcomes Transplants Group and get calls and emails from folks considering moving from all over the U.S. so I try to be a cheerleader for all that is terrific about the area and there are many terrific attributes. But I do need to give them an honest assessment. Really, we owe them that. People are uprooting their lives and making substantial investments. We owe them realistic information with which they can make their life-changing decisions.
The oft-heard ‘bring your own job’, ‘bring your money because you won’t make any here’ and ‘bring your own girlfriend/boyfriend’ are all true. This is a nice place for financially stable people in relationships and people who simply want to enjoy nature and art. One has to be willing to downsize and minimize their standard of living, which is slightly less than anathema to me and many of my friends and colleagues. A lot of people I know have moved back or onto somewhere else. The bottom line is that you can’t just like the place. The Asheville area is a completely different standard of living, for better or worse. A move here requires great consideration.
I’ve met a lot of wonderful people. It is a beautiful area. Asheville is not a cohesive community. It is a collection of numerous little communities of people doing their own things. Inclusivity is not the hallmark. Still, you’re sure to find people to hang out with. If you are financially stable, you can enjoy your hobbies and your home. Most people have to wear more than one hat to get by. Asheville is a beautiful area definitely worth researching and will probably end up on your short list.
It was just a few years ago that Asheville was booming with home and property buyers. I mean folks were coming from all ends of the United States to get in on a piece of the action. Home Builders in the WNC area had a waiting list and got to choose the clients they wanted to work with. We actually had our main teams solely on home building and real estate media. And business was so good! That was around 2008-2009, right before the “Great Depression” hit. Some companies with a large overhead had to fold up and close their doors. Others had to layoff much of their staff and get extremely hands-on themselves. Companies that had been in business for years missed payroll for the first time. Lawsuits were as common as new clients. Money was no longer coming in, and people were spending a lot less. Everyone was suffering.
Today is a New Day! 2013 is here. People are settling down financially and mentally; and resettling in Asheville and Western North Carolina. I talked to Donna Prinz of Keller Williams Realty in Asheville today, and she asked me.. “Do you know anyone, ANYONE, that wants to sell their home??!” I was like Huh?! It caught me off guard as my mind spun and I thought about how my hometown community is not only exploding with tourism, but we are also headed back up on the real estate wave. Government shutdown or not, Asheville’s got it going on!
So are we back on track for Western North Carolina to come together and be one of the fastest growing areas in the United States? Many think so. Some of my real estate friends say the area is about to snowball, and end up with a long waiting list of people to get in. Developers and home builders will be overwhelmed with work, paying folks in the construction industry to relocate here and supply the demand. Next is attracting new jobs to the area. Sound great right? It’s gonna happen!