Posts Tagged 'buyers'

Snowfall jams up gun buyback

Last weekend’s snowstorm jammed up the final gun buyback events scheduled by the Asheville Police Department in the Montford and Shiloh communities. A posting on the Asheville PD Blotter says the final buybacks for 2009 will have to be rescheduled in those neighborhoods after the new year.

Any individual turning in a gun will receive $50 for an operational handgun or long gun, and $100 for an assault rifle. Money will be paid only for guns that are fully functioning. No black powder firearms will be accepted. The program is aimed at reducing accidental injury, suicide, domestic violence and gunfire in the community.

via Asheville North Carolina.

Police destroy most of the weapons they collect at the buyback events. Some are used for APD training.  It paid out $16,000 for firearms in 2007.

Is Asheville buyer’s market for homes slowing?

New data on Zillow.com shows about a third of the homes for sale in Asheville were listed with price cuts in August.

909pricecuts

Asheville listings with price cuts

That’s a 0.4% improvement from July, and an indication that the buyer’s market for homes may be easing in Asheville. But the median price cut was slightly higher than July (about 6%) and the median list price per square foot declined again.

The Zillow blog promised more details next week, but it noted that homebuyers nationwide lost a bit of negotiating power in August.

New Zillow data from surrounding metro areas may provide some perspective.

Greensboro shows the largest percentage price reductions in North Carolina at an average of 5.3%. Over a quarter of the homes in that market had recent list-price reductions. Greensboro’s home value index is 4.4% lower than a year ago.

The Tri-Cities Tennesse area, known as the Johnson City MSA, came in at an average 4.1% price reductions. Its Zillow Home Value Index year-over-year is down almost 9%, which is closer to the housing value trend Asheville has been experiencing. We reported last month that the buyer’s market for real estate was raging on in Asheville.

Charleston leads South Carolina in declining home prices, according to the data. Spartanburg and Greenville rank in the middle of the list of 144 metro areas, with average price reductions in the 3.5% range.

Average days on the market are over 100 days in each of the metro areas mentioned above – sometimes well over 100 days. Zillow reports Asheville’s days-on-market in August as 110.

The biggest house price declines are in Florida. Zillow reported that 14 of the top 20 metro areas had the biggest discounts in list prices.

The good news for sellers is that the first-time buyers credit is helping stretch the traditionally strong summer home-selling season this year. Video from Trulia.com is below:

Buyer’s market in real estate rages on in Asheville

The buyer’s market rages on for residential real estate in Asheville.

Fresh new data on Zillow.com shows fewer and fewer homes are being sold in the area — to lows not seen in more than 5 years.

The percentage of homes sold in Buncombe County in the past 12 months dropped to just 2.2% in July and 2.5% in Asheville proper. In early 2007, about 10% of all homes in the area were being sold.

Not surprisingly, given the country’s economic woes, over 90% of the homes in Asheville have declined in value over the past year. In 2005, it was under 10%.

The latest data shows about 17% of the homes being sold in Asheville are being purchased for less than the previous owner paid — and that excludes  foreclosure transactions.

Home prices are dropping about 6% every 30 days, according to Zillow’s latest data.

Now may be the time to buy, and you can check out area homes for sale on Iwanna.com.

UPDATE: 5 reasons you should buy a house now.

Buncombe-Asheville Homes Sold

Buncombe-Asheville Homes Sold

Housing prices falling in Asheville but not like Atlanta ‘zombies’

Biltmore Forest home prices

The impact of falling housing prices is illustrated in this Zillow.com chart showing plunging home values in Biltmore Forest. Asheville seems to be holding together comparatively well, however, and Zillow reports some North Carolina communities such as Fayetteville are actually seeing housing appreciation.

In the South, nothing may be as bad as Atlanta, where failed housing developments and failed banks have left “zombie” subdivisions forming a “ring of death” around the city, according to the local newspaper.

To say the market has been sluggish would be an understatement. The main problem is sheer volume – a staggering 150,000 vacant housing lots across metro Atlanta are available, more than a decade’s supply at current absorption rates.

via Volume of ‘subdivision’ vacant lots overwhelms banks | ajc.com.

There are reports that Reality TV star Lisa Wu Hartwell and husband, former Oakland Raiders linebacker Edgerton Hartwell, have lost their home to foreclosure in Atlanta.

Experts say the bottom in housing prices may still be a long way off. Analysts at Deutsche Bank in New York are saying that 48 percent of mortgaged properties will eventually be underwater as they expect prices to drop through the first quarter of 2011.

We haven’t seen a bottom in home prices, and it could take into 2011 before we see equilibrium in the market,” said Michelle Meyer, an economist at Barclays Capital in New York.

via Underwater Mortgages May Reach 30% | Bloomberg.com

The good news is for first-time home buyers and investors with liquidity. Now is probably as good a time as any to look for housing deals.

Update: Data in distressed areas is showing that most housing sales indeed involve first-time home buyers using government assistance programs and investors using cash.

“Priceless” deals around WNC in an iPhone app

Mastercard has released a cool iPhone app that allows you to share the best shopping deals in your area.

[Priceless Picks is] a social app that allows consumers to point out their best deals at their favorite local spots for all to see. The app uses the iPhone location services to figure out where you are. It then shows you on a map and shows all the deals others have placed around you.

via An App To Show You Mastercard “Priceless” Deals: Priceless..

If you’re in the Asheville area, download the application to your iPhone and you’ll find deal alerts from Smiley’s, Cinebarre, TracPhone, Advance Auto Parts, Grove Park Inn, and now Iwanna — Western North Carolina’s home for free classified ads.

TechCrunch adds:

If you want to add you own deal, you simply click the “+” button, and enter the relevant details. It will tag the place at whatever your current location is.

Get a new laptop for 99 cents

Sprint is apparently teaming up with Best Buy to offer a 99-cent netbook if you sign up for a two-year, $60-a-month 3G service contract.

All three carriers have invested billions of dollars in their networks, but you can’t recoup your costs and turn a profit if you can’t get customers on the network. In a recent, detailed 3G test, Sprint won out as the “most reliable” network, but you don’t earn money by winning titles. You have to get paying customers, and at 99 cents for a netbook, Sprint might do just that.

via Sprint Offers a Netbook for Under a Buck. Will AT&T & Verizon follow?.

Silicon Alley Insider also has the story.

Wireless services have been offering free phones for some time with extended contracts. Now the ball is in play for laptops.

Looking for an inexpensive computer without a $60-a-month fee —  which would cost you $1,440 over the long haul? Try Iwanna’s computer category.

Is stocking up frugal or foolish?

Sam’s Club and other discounters have turned the impulse to stock up into a business model.  The majority of items for sale at these warehouse-like stores are bulk, and club members buy with the hope that they’re saving money over the long run.

The flipside, of course, is overbuying stuff you don’t need or use just because the price looked good. Who of us haven’t asked ourselves:

Are these impulses foolish? They don’t feel foolish, but sometimes I’m not as smart as I should be about these decisions. Would buying these extra iPods or boots just be a sort of hoarding? Would I be bringing more clutter into the house? I don’t know. All I know is that I don’t feel guilty for considering these options — so long as I can afford them.

via When Does It Make Sense to Stock Up? ∞ Get Rich Slowly.

Everybody who shops discount groceries knows that deals don’t last long on the shelves. If you think about stocking up on a good deal too long, it could be gone the next time you come back.

Comments from the Get Rich Slowly blog offer some good advice about stocking up:

  • Electronics are always bad options because technology improvements will almost always make the next model better.
  • Products that cost less than $20 each are good candidates but they have to be at a killer price.
  • Be cautious about products that degrade over time.
  • Be especially careful with food products that are stocked up, because they need to be rotated regularly.
  • Anything that you are confident you could resell at the same price you paid (or more) is worth stocking up on.

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