Good news for our hometown, Asheville area and western North Carolina Real Estate IRA owners: The real estate market here in the mountain regions of North Carolina is going strong – and all indications are that that strength will continue for the near future.
According to recent information from the North Carolina Association of Realtors, the far western parts of North Carolina are experiencing a boom market, with a 10 percent growth in home sales between 2014 and 2015, with total real estate volume up 16 percent, in dollar terms. This is truly fantastic news for Real Estate IRA owners!
The bull market in real estate in the area has a solid foundation: The natural beauty and abundant recreational activities here in the Asheville area and the mountain regions are attracting retirees and others from all over the country. Cherokee, Clay, Jackson, Macon and Swain counties are all experiencing strong net population inflows – which of course results in increased demand for housing – both rental and owner-occupied. And that means opportunity for self-directed IRA investors.
Also a factor: A shortage of builders. Many builders in the area did not survive the great housing shakeout of 2008 to 2010. That means there has been relatively little in the way of homebuilding over the last decade. The restricted inventory of newly-built homes means that such homes are selling and renting at a premium.
Half-backs And Metro-Migrants
The North Carolina real estate market is attracting thousands of ‘snowbirds’ from the Northeast who looked at retiring to Florida – or who even got to Florida, but chose to avoid Florida’s downsides and boom and bust economy and moved ‘half-way back’ to the northeast, settling in the mild climes of North and South Carolina. It’s much closer to their families back north, for one thing, and many markets are much more affordable to retirees than properties in much of Florida.
Asheville, Anderson, Greenville and similar communities here in the western Carolinas are also proving highly attractive to information workers and professionals who don’t want to live and raise their families in big cities. Cities like Asheville are proving much more family friendly, while still possessing the information infrastructure to attract quality employers.
Tips for Self-Directed IRA Investors
Green energy is very much in vogue right now, according to local real estate sources. Renters and buyers are jumping at certified green buildings and environmentally friendly touches like LED lighting, energy-efficient appliances, quality insulating and the like.
Rents are still climbing in Asheville – the state’s most expensive market – up 7.6 percent from March 2015 through the first quarter of 2016. Asheville also posts the biggest average rent increase in the state, with median rents for a two-bedroom unit reaching $1,180 per month – finally surpassing Charlotte.
If you own rental property in Asheville, screen tenants for a steady job or some significant savings to tide them over. Failing that, ask for a substantial deposit up front, to weed out marginal renters. Otherwise, you could get left holding the bag as renters have trouble finding quick employment.
With our offices located right here in Asheville and Charlotte, North Carolina, American IRA, LLC is the natural choice for North Carolina Real Estate IRA and other self-directed IRA owners who want to declare independence from Wall Street investment companies and take more direct control of their retirement portfolios using real estate, partnerships, LLCs, tax liens and certificates, precious metals and other nonstandard IRA investments. To find out more, call us today at 866-7500-IRA(472). Or peruse our vast library of educational information about Real Estate IRAs at www.americanira.com.
We look forward to serving you.