What happens when you're stuck in property ownership with someone who won't cooperate? On this Memorial Day episode, we unpack the challenging world of partition sales—a last-resort legal remedy when co-owners can't agree on what to do with jointly owned real estate.
The Western North Carolina real estate market continues to show remarkable stability despite fluctuating interest rates. With average home prices holding steady around $536,000 and approximately 125 single-family homes selling each month in Henderson County alone, our market maintains its health even as some sellers adjust pricing strategies. The limited inventory of just 559 active listings creates a balanced environment where well-priced properties still move quickly.
For those concerned about today's interest rates, I offer perspective from clients who purchased homes in the late 1970s and early 1980s when rates reached into the high teens. Today's rates align with the 50-year average, and real estate continues its 12-year streak as America's preferred long-term investment according to Gallup—outperforming stocks, gold, and cryptocurrency.
Beyond market insights, we explore proactive estate planning strategies using Delaware Statutory Trusts through 1031 exchanges. These approaches can help prevent future conflicts among heirs while deferring capital gains—a win-win for property owners looking ahead. I share stories of clients transitioning into retirement communities after decades of homeownership, highlighting how life changes drive real estate decisions regardless of market conditions.
As we honor those who made the ultimate sacrifice this Memorial Day, we remember that freedom isn't free. From the origin of the poppy symbol to the tragic story of the Sullivan brothers, we pause to reflect on what today truly represents—not just a three-day weekend, but a sacred moment to honor those who never returned home.
Whether you're considering buying, selling, or planning your estate's future, call us at 828-393-0134 or visit realestatebygregcom to explore your options in today's market.