The Skinny on Modern to Contemporary Home Sales
2011 started out similar to the previous few years, but quietly came roaring to life as it nudged into 2012. A few realtor friends said it was one of their better years, but they had to work extra, extra, extra hard for it. As far as contemporary homes are concerned we had a few special ones swap owners this year. Here is a brief look at some notable ones.
In general, all shapes and sizes of homes found new owners in 2011 while some still remain on the market or have been pulled. The issue for the modern to contemporary home buyer in Asheville is lack of inventory. A good, open, one-level contemporary home of modest size with a view isn’t around every corner as seen in my version of heaven. Kelly Erin-Spinney, realtor for Real Living, knows having previously worked real estate in both Florida and California that today’s homebuyer is looking for less – not more. She states, “They are looking for their open and zen mountain retreat which opposes what builders were building in the past ten years. Times have changed.” I know from my own clients that if I could find spaces that live like an urban loft, but exist privately in nature I might have a chance of retiring.
This January seems to be one of the most active on record in our own office. Kelly and I have witnessed a few contemporary’s being snatched up just before showings. Specializing in Modern, we have a back order of simple and clean buyers looking for the same polished diamond among the rustic.
This vintage gem near Biltmore Lake was on the market for five months and just went under contract to the disappointment of our buyers. A 1972 contemporary with 3 Beds + 2.5 Baths listed for $349,000. Sweet!
Buyers– you may have to be patient or creative (ranch remodel?) to find or create the one, but don’t expect bargains. The interesting tidbit for all bargain hunters out there waiting to make half price offers: on average these homes sold for 94.7% of listing price. Yes, you heard me! I did the math myself and admit it put a crack in my jaded shell. Which means – it is time to make that deal and get on with your life here in Asheville.
Here is a sweet, little mid-century built in 1965 on 2 acres in Fairview. Currently, listed for $295,000 it has 3 Beds + 2.5 Baths in over 2600 sqft with an extra workshop building.
Sellers – get your homes to 2012 standards. Even with little inventory buyers still want something up-to-date or a clear understanding of what it will take to get there. Make it easy for them. We all know buyers have been nervous about the unknown future which means they don’t care to add on the unknown expenses of bringing a home up to date at this stage in life. Sure – buyers like charm. But you can sit there on your charm as it often comes via Home Depot into inadequate spaces with lots of fresh air (drafts). Do something. Bring in an expert, listen and follow through. [ I often bring in Katie Rice from Bellwether Builders for both my buyer and seller clients. Having built contemporary homes, remodeled ranches she can provide some consulting from a range of $85 to $250 to look at a home and give you some ideas and costs. I know many architects, including Mark Allison offer consultations. ]
Yes, it’s been a rough few years. But as predicted by the Mayans, 2012 is shaking and speeding things up. So, let’s all soften into our yoga matts (insert uji breath), ease our resistance and drive one-handed into our Subaru future. Isn’t that why we are here — in Asheville?