The "Perfect Storm" has arrived in Murphy, North Carolina !
No, I'm not talking about that snow we had last week.
We've all heard the reports of the downturn in the real estate market nationwide.
But like the title of that legendary movie, three major events have now come together to make conditions right for a once-in-a-lifetime opportunity for buyers.
Here's why this year is THE YEAR to buy YOUR dream mountain property in Murphy, North Carolina.
1. Historically low interest rates
For the past few months, 30 year fixed mortgages have been available at local banks at interest rates BELOW 5%. In fact, I haven't ever seen rates this low in my lifetime. Economists all agree that rates will be heading up starting in the second half of 2010. Local banks are lending on both homes and vacant lots - don't miss this opportunity to lock in an interest rate you may never see again!
2. Free money from the US Government
When has your favorite "Uncle" ever given you a big check to buy yourself something nice? That's what the Federal Tax credit for first-time and repeat home buyers is. First time buyers can get as much as $8,000 while repeat home buyers are eligible for a $6,500 tax credit - and you don't have to buy a more expensive home than the one you're in right now. But you need to act fast - homes must be under contract by April 30, 2010 with closing to take place by June 30.
3. Unbelievable Bargains on Homes and Lots
The best foreclosures and bargains are being snapped up quickly - our sales in Cherokee County are up a whopping 43% over the last 4 months of 2008!
I just sold a 2 year old home with 3 finished levels, hardwood floors, 3 bedrooms, 3 baths and a loft overlooking the massive 2 story stone fireplace for under $150,000.
Lots with beautiful long range views like this are selling for under $30,000. You can search for foreclosures and view all the local MLS listings on our newly revamped website at www.Countryhomesnc.com .
The word is getting out - Country Homes and Land is the place to find out about what the real estate market is doing and what's going on in the community. David Brown, editor of the Cherokee Scout, said in a recent newspaper column that he reads my blog Murphy NC Real Estate Report to get the latest market reports and find out about sales trends in our area.
My blogs about local events such as the John C. Campbell Folk School Art Fair and communities like Bear Paw Lakefront Resort and Peachtree are being read by interested buyers all over the country. You can get the latest in local real estate news at www.murphyncreport.com .
We're not all talk - we're leading buyers through this storm! Country Homes and Land was in the top 5% of the companies selling homes last month and we were one of the top 5 companies in land sales last year. While the market has gone down in Cherokee County for the last 3 years, our sales volume has gone up each year.
If you'd like to hear more about our forecast for the local real estate market in 2010, feel free to give me a call at 828-837-9989. I'd love to chat with you.
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