Investing at 4118 Feet
May 23, 2013
Contributed by Lynn Kimball
Meadows Mountain Realty
At certain times in our lives, most of us will make major lifestyle changes. Changes require much consideration, especially in the changing world of real estate. These financial decisions are usually the largest we make during our lifetime.
When a change of location is involved or a substantial investment opportunity is on the horizon or if you’ve been waiting for prices to bottom out before buying that second home…here is some food for thought.
There has been a significant increase in Highlands’ sales activity over the winter and spring months this year…..even ahead of our banner years in the past. We are seeing multiple offers on properties again, with sale prices averaging out to 90% of the list prices. This creates an atmosphere for the best time to sell we have seen in years, particularly if you plan to purchase another property. Prices have stabilized with the reduction in inventory. As more inventory is depleted, we will see an increase in prices. The best time to buy is while prices are still at their lowest and before prices are on the rise.
If you own investment property, which may include commercial, vacant land or qualifying rental property, this may be the time consider making a move. There may be another property that has more advantages for income, a more suitable location or a better value today for potential appreciation in the future. If you sell now, then purchase another qualifying property, an additional advantage could be in a 1031 Tax Deferred Exchange. (only with advice from your qualified tax professional)
Another important factor to remember is that interest rates are still lower than we’ve seen in generations. A thirty year fixed rate mortgage can be obtained as low as 3.5%.
Finding the right Realtor® is the key to your success. After taking the time to find someone you can trust…who is an experienced professional and knows the Highlands market, you can settle back and allow them to do what they do best…provide the service and expertise you need in buying or selling a property.
If you want a good overall introduction of our area and to search available properties, you are invited to visit my user friendly website at www.signatureproperties-nc.com and our company site at www.MeadowsMtnRealty.com. Meadows Mountain Realty has two locations, at 41 Church Street in the Old Edwards Inn complex and at 2334 Cashiers Road across from Highlands Falls Country Club. Lynn Kimball can be reached at 828-421-8193 or by email at Lynn@MeadowsMtnRealty.com.