We have all heard the main stream media reporting on the dismal real estate market as though it were on a non-stop audio loop.  Despite these continuous reports, four major media outlets have come out this month with the same advice: if you are ever going to buy a home, now is the time! 

Here are the four articles each from respected news sources along with a summary of why their advice makes sense.

The Wall Street Journal:  Why It’s Time To Buy

CBS Money Watch:  Why The Time To Buy Is Now

Forbes Magazine:  9 Reasons To Buy A House Now

National Public Radio:  For Many, It’s Still A Good Time To Buy A Home

Considering that most news reports are saying home prices continue to depreciate in most regions of the country, you may be wondering why these four media outlets are suggesting that now is the time to buy.  Well, one of the things that each of these entities recognize is that the price of a property is not as important as the cost.  Even as prices fall, the cost of a house can actually increase.  Unless you are paying cash for the particular property, you must consider the expense of financing when calculating the full cost. 

Interest Rates:

Interest rates for home mortgages are currently at historic lows.  That being said, Fannie Mae, Freddie Mac, PMI and the National Association of Realtors are all projecting a 1% increase in those rates over the next year.  It is important to keep in mind that a 1% increase in mortgage rates negates a 10% decrease in prices!

Lending Standards

While we are speaking about mortgages, we also need to know that the government as proposed a tightening of the lending standards referred to as Quality Residential Morgtage (QRM).  If these changes are accepted as proposed, it will mean two things to the average home buyer:

1. Qualifying for a loan will become much more difficult
2. The cost of a loan will increase

The government has proposed a tightening of lending standards called Quality Residential Mortgage (QRM). If accepted as proposed two things will happen:

Bottom Line

So the bottom line for people currently on the fence about jumping in and purchasing a home is that now is definitely the time to buy.  The cost of purchasing a home is about to increase even if prices continue to fall.

For more information on the market conditions in Highlands or Cashiers NC, contact any of the professional brokers at Meadows Mountain Realty at info@meadowsmtnrealty.com or by calling 828.526.1717.

1. Get help from a short sale expert

Not all real estate agents today have worked with properties that are offered as a short sale. An agent experienced in short sales can identify which homes are being offered as short sales, help you determine a fair purchase price, and advise you on what to include in your offer to make the lender view it favorably. Ask agents how many buyers they’ve represented in short sales and, of those, how many successfully closed the transaction.

2. Build a team

Ask agents to recommend real estate attorneys knowledgeable in short sales. Your attorney can do a title search to identify all the liens attached to any property that peaks your interest. You must understand that because each lien holder must consent to a short sale, a property with multiple liens, like first and second mortgages, mechanic’s and condominium liens, or homeowners association liens, will be harder to purchase. Although you will have to pay for the title search up front, but it can also help weed out less desirable properties requiring multiple approvals.

3. Know the home’s fair market value

By agreeing to a short sale, lenders are consenting to take a loss on the loan they made to the sellers to purchase the home. The goal of the lender is to keep those losses as low as possible. If your offer is substantially less than the home’s fair market value, it may be rejected. Your agent can help you identify the price that’s good for you. The lender will determine whether approval is in its best interest.

4. Expect delays

There are two stages to a short sale. First, the sellers must consent to your purchase offer. Once you have come to an agreement with the seller, then they must submit it to their lender, along with documentation to convince the lender to agree to the sale. The lender approval process can sometimes take weeks or months, even longer if the lender counteroffers. Expect bigger delays if several lienholders are involved; each can make a counteroffer or reject your offer.

5. Firm up your financing

Lenders will weigh your ability to close the transaction. If you have a pre-approval letter from your lender for a mortgage, have a large downpayment, and can close at any time, they’ll consider your offer stronger than that of a buyer whose financing is less secure.

6. Avoid contingencies

If you must sell your current home before you can close on the short-sale property, or you need to close by a firm deadline, your offer may present too many moving parts for a lender to approve it. Also, consider ordering an inspection so you’re fully informed about the home. Keep in mind that lenders are unlikely to approve an offer seeking repairs or credits for such work. You’ll probably have to purchase the home “as is,” which means in its present condition.

The brokers at Meadows Mountain Realty have the knowledge and experience to help you with a short sale.   Give us a call today at 828.526.1717 or send an email to info@meadowsmtnrealty.com.     For a list of short sale and foreclosure properties in Highlands, Cashiers, Sapphire and Glenville North Carolina, visit our website.    

This article includes general information about tax laws and consequences, but isn’t intended to be relied upon by readers as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice.

In this day and age, people often ask if they need to hire a real estate agent to sell their home or if they should try it on their own as a For Sale By Owner (FSBO).  With the volatility we are seeing in today’s housing market, we feel this is an easy decision: you need an experienced professional!

An experienced agent can be your guide in this uncertain market

Whether it is giving you an honest assessment of where your home should be priced or it is finding a buyer who is willing to pay fair market value for your home when there are many competing short sales and foreclosures, an experienced professional can steer you through many of the pitfalls that exist in real estate today. 

A skilled negotiator is invaluable

In today’s market, having a skilled negotiator on your side during a real estate transaction could save you thousands of dollars.  Not only do you need someone who can keep the deal together until it closes, you need someone who can provide you with trusted advice and assistance from the initial offer right through the inspection and appraisal.  Until a deal closes and you have your money in hand, an inspection report or a financing hiccup can cause it to take a nose dive quickly.  An experienced agent can direct you through these situations and help you get your home sold even when issues arise.

When an agent is negotiating their own commission with you, remember that they are actually negotiating their own salary.  This is the salary that pays their bills and keeps a roof over their heads.  If your agent was quick to back down and take a lesser commission when negotiating with you for your listing, you should see that as a red flag.  If they would not negotiate well for themselves, what makes you think they will negotiation well for you? 

Bottom Line

As with anything else, you get what you pay for.  A good real estate agent, like a good attorney or a good accountant, will save you money not cost you money.     The Brokers at Meadows Mountain Realty are experienced and can help you get the most for your property in today’s tough real estate market.    Give us a call today at 828.526.1717 or email us at info@meadowsmtnrealty.com.

Ferns are beautiful, lacy, green, delicate, natural… pick your adjective.     Many are native to our Highlands Cashiers Plateau and can provide a great natural addition to your landscape. They are said to impart a calm grace, yet they are tough, durable and adaptable.

I became fascinated with ferns after moving to North Carolina from California in 1998, and must confess that I was not aware of them until I moved here.

The Hay-scented Fern figures prominently as the Meadows Mountain Realty logo, both in its pale green summer colors and its golden tan fall tones. An “invasive” species, this one is easy to grow, but can take over your garden, and I am having some difficulty removing my excess plants. it spreads by underground root rhizomes or runners. This fern grows in “drifts” which appropriately describes the pattern. It can be used to hold soil on sunny slopes, but you must be  conscious of its growth habit.

This list presents the ferns I have liberated from the wild and transplanted successfully in my gardens.

If you wish to start growing ferns, but prefer not to capture them in the wild, they are available in most of our local nurseries.

There you will find many kinds of ferns, not all of which will survive our winters. If you want perennial ferns, it is important to ask the nursery personnel which ones will survive here. Remember that ferns have been on this planet for over 240 million years, and are found in all hemispheres, but they can be very selective about the environments they choose to accept.

For instance, my favorite is the Southern Maidenhair, but it has to be replaced each year.

The Autumn Fern, from Asia, is very hardy here, as is the Japanese Painted Fern. Both are notable for their unusual colors. the Autumn Fern is a reddish brown when it unfolds in the Spring, and the painted fern is an unusual bluish-gray color.

If you wish to explore the enchanted world of ferns, just Google Ferns. The images that come up on the Connecticut Botanical Society website  http://www.ct-botanical-society.org/ferns/index.html   are particularly useful, and The Brooklyn Botanic Garden paperback  Ferns..Wild Things Make a Comeback in the Garden   is a good practical handbook.

For more information on ferns in the mountains or real estate in the mountains of western North Carolina, give Bill Peavey a call at 828.526.1717 or email Bill at billp@meadowsmtnrealty.com.

Despite the doom and gloom the media portrays regarding today’s real estate market, several unique opportunities exist for home buyers, in particular, luxury home buyers.

While home prices across the country have dropped or stabilized to varying degrees, luxury home prices have been slashed, in many cases, as the market for such high-end properties has dwindled in challenging economic times.  This presents a great opportunity, for those who have the financial resources, to purchase a luxury home that might have been completely out of their range six years ago.

Purchasing a luxury property, however, is unlike a standard home purchase. I advise all my luxury-home clients to consider the following before embarking on their search:

1. Weigh the finances carefully.
Even if you’re ready to pay cash for your luxury home, you still want to ensure you’re getting the best possible value and potential return on investment from your home purchase. Make sure you truly have the financial wherewithal to remain in the home as long as you’d like. Consider the stability and growth potential of your future income before moving forward.

2. Have your documentation in order.
Many luxury home buyers derive their net worth from a variety of sources and investments. Given the high-end purchase price of a luxury home, along with today’s unstable economic climate, prequalification is often necessary when it comes to luxury purchases.

3.Investigate alternative search methods.
The best luxury property deals might not be found through traditional real estate search engines but rather through word of mouth. Make sure you’re working with a professional real estate agent who is well connected and networked in the communities your are considering

4. Seeing is believing.
Expansive square footage, sprawling property, and a bevy of incredible views often make luxury homes difficult to completely capture in photos, videos or virtual tours. A visit in person is an absolute must to make sure you’re not missing any potential details and, conversely, to make sure the property lives up to its image.

5.Consider the future.
Your luxury home investment needs to be carefully considered for the future, in particular your expectations in terms of your return on investment. Most luxury home buyers are buying a lifestyle and don’t intend on flipping their home anytime soon. Given the volatility that still exists in today’s market, make sure you’re not headed into your luxury purchase with unrealistic thoughts of financial gain but rather to enjoy a spectacular home for many years to come.

We would be happy to share more insights and strategies for buying a luxury home.   Please feel free to email us for further information.     There are many opportunities in the Highlands NC and Cashiers NC real estate markets right now.     Prices are as low as we have seen in years, mortgage rates are still historically low and sellers are motivated.     Call any of our brokers at 828-526-1717.

Sitting regally atop a small knoll overlooking the seventeenth fairway of the course which was first played by legendary golfer, Bobby Jones, the 4th Cottage combines the charms of yesteryear with the comforts of today.

Family and friends eagerly gather on the large front porch to enjoy the gentle breezes that stir the uppermost branches of decade old trees.   You are deep into your favorite book, but it is hard not to break away for a glance at the graceful swans that swim in Club Lake just a few hundred yards below.  Throughout the spring, summer and fall, the meticulously manicured grounds are ablaze with color. The combination of native and cultivated plants dresses the landscape in eye catching splendor.  The gently rolling lawn reminds you of homes found in your favorite movie.

From its first days in 1928 until today each owner has sacredly guarded the homes integrity. Wainscot paneling of pre-blight chestnut warm the walls of the Great Room with its massive stone fireplace and beamed cathedral ceiling. Built-in library book cases installed when famed author-psychiatrist, Corbett Thigpen, best known for The Three Faces of Eve, owned the home from 1955 to 1980, provide the perfect repository for your cherished books, photos and family memorabilia.    In 1999 the current undertook to renovate the cottage with the help of local architect Dennis DeWolf.    Paying careful attention to preserve the integrity of the original cottage, they set out to update the home with all of the features that families expect in a twenty-first century home.

Visitors to the home following the renovation marvel at the finished product.  A large stone fireplace on the expanded porch closely resembles the original one that anchors the Great Room.  Even the most finicky chef would feel at home in the updated kitchen.  The master suite with its his and her baths provides the perfect escape for a busy couple to rest and recuperate from a day filled with all the activities that Highlands has to offer.  Adjacent to the bedroom is a room which is an idyllic spot for a small office or library, or dressing room.  Use your imagination to personalize this space to your specific needs.  Throughout the house your eye is drawn to carefully thought out design details that you seldom find in homes built today.

When family and friends come for a visit, they will enjoy their own privacy in one of two guest cottages.   In addition, there is a workout studio and a two car garage.      

The 4th Cottage might just be the perfect mountain home.     For more information, contact Michelle Muraco at Meadows Mountain Realty at 828.526.1717 or by email at michelle@meadowsmtnrealty.com.

Each year about this time, the ladies of the Mountain Garden Club and their helpers gather a fabulous inventory of native plants to be sold to area residents for their gardens.   These plants are grown locally so they are acclimated to our local climate and with just a little watering and care should flourish.  

The sale starts at 9 am on Saturday May 29th at eh Ball Field in Highland on Highway 64 (The Cashiers Road), about three blocks from Main Street Highlands.    There will be a huge variety of hostas, perennials, shrubs, herbs, flowering bushes and more.    Heirloom tomatoes will be a very popular plant again this year and will be limited in the number of plants available.    The number of plants and the variety of species continues to expand each year.

Garden Club members will be on hand to advise buyers about planting and caring for the plants they buy.  The will also be able to tell purchasers about likes and dislikes for various plants, plus where they should be planted for best growth.

The proceeds from the sale fund the club’s many community projects, esp[ecially scholarships for students pusuing a degree in the field of horticulture, landscape design, forestry management, or golf course management.    The funds also support the wonderful butterfly garden at the Highlands School and the gardens at the Fidelia Eckerd Living Center.

Shoppers should come early for the best selection.  The Club will provide wheelbarrows and wagons and helpers to load up your plants.   This is a great opportunity to have beautiful landscaping or a lush garden this summer.    Remember it is cash only to buy,  no credit cards.     

For more information on the plant sale, please call any of the brokers at Meadows Mountain Realty at 828.526.1717 or email us at info@meadowsmtnrealty.com.      We are here to help you with all of your real estate needs.

If your home is on the market, or if you’re planning to sell your home in the near future, you might be discouraged by the national media’s rampant reports of increasing inventory and languishing sales.

While there is, indeed, plenty of inventory currently on the market, there are steps you can take as a home seller to ensure your home sells more quickly, while still garnering the maximum sales price possible.     The team at Meadows Mountain Realty has years of experience working with home sellers and have learned a few strategies that really work toward securing a buyer more quickly.

1. First, for your home to sell more quickly, it must be exposed to the maximum number of buyers possible, so make sure your home is listed with a local brokerage that has a comprehensive understanding of your market area and knows how to employ technology to increase exposure.  Find out how they will market your home online, what listing portals they will use, how they will utilize social media, how many pictures they will post, videos, etc.
2. While it’s understandable that you’d like the largest earnest money possible from a buyer, be willing to accept smaller earnest money, provided the buyer has been preapproved for a loan.   This can make a huge difference to cash-strapped buyers.
3. Do some legwork and ask your real estate agent for a tour of competitive properties. This will help distinguish what features of your home you should highlight or what small changes you can make to give your home an edge over the competition.
4. Choose your battles and understand where certain concessions might work in your favor. In a slow market, for example, it may be better to pay a “seller contribution” to help buyers offset closing costs than to lower the sale price. While a seller contribution may be smaller than a price reduction, it is often more attractive to buyers who need cash to close.
5. Consider including some value-added items in the sale of your home, such as yard tools, a gas grill,  or items of furniture that buyers fall in love with and/or really need.  A few freebies might be just what you need to close the deal.

If you would like to learn other ideas for selling your home more quickly, please contact any of the brokers at Meadows Mountain Realty at 828.526.1717.    We are the Highlands and Cashiers real estate experts.

Imagine waking up to the sounds of a rushing stream, then lounging on the screened porch with your morning cup of coffee enjoying the sights and sounds of the birds as they flock around your feeder.    This great cottage is not only streamside – it is an easy stroll to all that Highlands NC has to offer including wonderful dining, great shopping, theatre and other cultural activities.   

With three bedrooms each with a private bath, this home offers two master suites – one on the main and one upstairs.   The greatroom has cathedral ceilings, laminate wood floors and a floor to ceiling fireplace.    The large kitchen with eating bar will become the perfect gathering space when friends or family visit.    

Easy maintenance exterior with minimal landscape care, this home could be the perfect place to spend your summers in Highlands NC.      Offered fully furnished and ready to move in.    $550,000.   For more information on this home or others in the Highlands NC or Cashiers NC area, please give one of the well qualified brokers at Meadows Mountain Realty a call today.  828.526.1717 or email at info@meadowsmtnrealty.com.  

Formerly known as The Sunledge when it was the summer home of its previous owners, Mr. and Mrs. Henry Goodyear, Jr of Albany Georgia, this now 60-year-old cottage has been enjoyed by Dr. and Mrs. Ferrell Harper and their family of Blakely, and St Simon’s Island, GA for many years.   A magazine article describing this historic house was published in the Fall 1987 issue of Veranda.

Midway between Cashiers and Highlands, this property is easily accessed from Highway 64 and basks in the sunshine.  From its wide lichen-accented stone patio the long range mountain views are just lovely. With nearly five serene acres, The Harper’s appreciation for nature is quite evident. This property is populated with beautiful hardwoods, and they have encouraged wild flowers native to the Highlands Cashiers Plateau, with at least eight different fern species, large trilliums, mosses, hybrid hostas, and a deep, clear, stream-fed pond.

The pond is crying out for some rainbow trout, and the water splashing over its stone dam is quite musical.  The area adjacent to it could make a distinctive, additional home site as well.

Across the road is a rather grand house belonging to the Flowers family  (www.flowersfoods.com), which sits on the former location of a Vanderbilt hunting lodge.   Steeped in history, this area can provide today’s active homeowner easy access to town, and country privacy that would be difficult to duplicate.

For more information on this special property, please visit our website or contact John Bynum at 828.200.0144 or Bill Peavey at 828.399-1553.   Or inquire by email at info@meadowsmtnrealty.com.