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Have you been looking for homes or properties in this area and find that it is already under contract when you look back the next day? Well I for one am not surprised based on the latest stats from MLS in the region comparing the 3rd quarter of 2020 to the same period the prior year! For one....listing inventory is down 51% as compared to the 3rd quarter of 2019! Yes, that is not a misprint.


The SW NC region has experienced incredible demand for properties in 2020. Much of this demand has been attributed to additional buyers that are entering the area (many from the northeastern areas of the US) looking for 2nd homes or investment properties. While Covid has and continues to have major impacts on our lives it has also triggered buyers to thinking they wouldn't mind a place to go during lockdowns. The mountains offer many outdoor activities that are generally permitted including hiking, biking and skiing. Home purchases that are used as short-term rentals are also thriving for similar reasons as renters would rather be in a home on their own instead of hotels that have common areas.


See the information below comparing the 3rd Q of 2020 to 3rd Q 2019. Some good news is projections suggest that the supply of listings will start to increase in 2021 and home price appreciation is over 15% for the year and continues a steep appreciation rate for the past several years.


If you are looking to buy a home in the area as your primary residence, a 2nd home or an investment property, I suggest you set up a search with me to be the first to know when properties come on the market. We at Mountain Properties of the Carolinas are committed to acting quickly to show the home, provide you additional key information or even doing a video for the home your are very interested in but can't make it to the area quickly!


Give me a call at 864-567-9009 or shoot us an email at info@mtnprops.com to get started!


Best,


Mike




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Ever wonder why there are so many horse farms around the southern NC mountain towns of Tryon, NC, Rutherfordton, NC, Saluda, NC and Landrum, SC? Much of it has to do with the extended growing season associated with the Geothermal Belt located in the Area. This term was first documented and named after Silas McDowell of Franklin, NC in 1858.


A “thermal belt” is simply a zone or belt on a mountainside where frost or freezing temperatures are less likely to occur then at higher or lower elevations a position of obvious importance to farmers impacted by growing seasons. The highest elevations generally receive the coldest parts of weather patterns due to the reduction atmospheric pressure, however have you ever watched the weather on tv, if you live or visit the mountains when a meteorologist refers to radiational cooling factoring into valley frosts on cool clear nights? This happens regularly in the deep mountain valleys of North Carolina. This thermal belt sits between these elevations and is generally protected by higher mountains to the north and west.


As a result, these previously mentioned locations generally experience fewer frosts in the Spring season when blooming fruit trees are at their most vulnerable thus increasing the probability that the fruit will be able to be harvested in the Summer and Fall. Owners of horse farms consider this a benefit of determining where to locate their farms. In addition to the benefits of better harvests and more vegetation available to the reduced number of frosts, the animals are exposed to freezing temperatures less often then other locations.


The next time you travel through or visit this area and see these majestic animals running and feeding on the natural landscapes remember the term “Isothermal Belt” and you will know why you will see miles and miles of horse farms in these great regions of the Carolinas.






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Updated: Feb 13, 2020

Owning a second home in the Carolina mountains can be sound investment--if you know how to find the right property management company.


One of the great benefits when deciding if you should invest in a 2nd home in the mountains of the Carolinas is to gain a better understanding of what rental income would look like and how much you should expect as a return on your investment.

If you do decide you want to generate income, you will want to first decide if you want to hire a property management company (PM) to manage the process or take it on yourself. There are many websites that make the later a less daunting undertaking. For example, many individuals are using Airbnb and VRBO to market their homes for rental purposes. These sites allow you to broadcast your home to a big market and you can pay page positioning for where your property would land (the more you pay the more eyes you are in front of). These sites also help manage availability calendars and have software to execute the transaction. While the fee is less than a traditional PM would charge there are still plenty of research to best compare fees and to gain an understanding what it can and not do.

Please note there will still be several things that would need to be considered in the process if using one of these sites. For example, who cleans the homes, how to manage repairs and communication with the guests including directions and property details that will fall on you as the homeowner to manage. A full-service PM would take most of these responsibilities on to allow the homeowner to have minimal time requirements in the rental process.

The market where PM's operate can vary from national scale to just one of the niche small towns in the area. You will find the national providers are lower cost (10%-15% on average) but may be limited concerning area expertise and niche services they provide, whereas smaller PM's can really make sure the experience meets the exact needs of the guests. The smaller PM's generally charge between 15%-25% of income generated.

Mountain Properties of the Carolinas has researched most of the property managers in the areas we sell and developed an understanding of their costs, occupancy rates, customer reviews, general core competencies and service areas. This allows us to make recommendations to our buyers of which companies might work best for the homes they are considering and what those returns generally look like.

Please let us help you with this process and to help you select the right company for your home if you decide to use your home as a short-term rental option!!



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