Does your idea of a fun Saturday include getting up at the crack of dawn and running up and down the highest mountain in the eastern United States…in the cold rain?  OK, you won’t see me at the starting line either.  However, for the hundreds of trail runners who have signed up for the 2009 Mount Mitchell Challenge and Black Mountain Marathon this Saturday, the early hours, wet weather, and craggy terrain are all part of the appeal.

     This year marks the 12th annual 40-mile Mount Mitchell Challenge, along with the 26.2-mile Black Mountain Marathon, considered to be two of the most strenuous trail runs in the country.  The races, presented by founding sponsors Black Mountain Savings Bank and Black Dome Mountain Sports, offer the opportunity for athletes to pit themselves against the ultimate challenge: Mother Nature.  With obstacles such as snow, ice, and even black bear it is obvious this is no run in the park.

     While both races are full this year, you can still get in on the action and cheer on the competitors!  The Mount Mitchell Challenge and Black Mountain Marathon both begin at 7a.m. on Cherry Street in Black Mountain and both end up at Lake Tomahawk, also in Black Mountain.  If you want to be there when the top finishers arrive, plan to be at the lake around 10 a.m. for marathon runners and around noon for ultramarathon runners.

For more information on the races visit www.blackmountainmarathon.com

     In spite of all the bad press decrying the demise of the housing industry, the dream of home ownership remains. Early in this century, owning a home was “the impossible dream” for most Americans. After world war II, the suburbs, with small homes, sprouting like shrubs, appeared across the landscape. The “American Dream” of home ownership was born.

     Being a product of the 50’s, I caught the dream and determined to make this dream a reality. After a three year stint in the army and a few months of renting, my bride and I purchased our first home in Palm Beach Gardens, FL, in 1960. For an initial investment of $350.00 and our signatures on a thirty year mortgage, we took possession of a new three bedroom, two bath, $11,600 house in one of those new subdivisions springing up all over Florida. The dream was realized by this twenty two year old real estate novice. Since then, I have purchased and lived in six homes. Although the purchase was primarily for a place to live, all have been excellent investments contributing toward my retirement. 

     Real estate investors, Freddie Mac, Fannie Mae, government mandates, greedy lenders have all had a hand in tearing down the “American Dream”. But there is good news for those who still have that dream. Buying a home is the very best investment you can make and there has never been a better time. With more inventory, there has never been as many choices or more attractive prices. When I bought my first home, interest rates for a thirty year fixed rate was 6%. Today’s buyer with a good credit score can beat that. Home prices will begin to rise as inventory decreases and that has begun to happen. For those who have that “American Dream”, I encourage you to go for it. Not only will you begin immediately to enjoy the many benefits of owning your own home, but you will reap the additional reward of a tax-free capital gain when you sell it.

     Time is on the side of today’s homeowners. The longer you own the property, the greater the profit. Those who purchased property at the top of the market a couple of years ago, need only to wait a while before selling. It is only those who are forced to sell immediately who will lose in this down-turn. No one else will be affected. Needless to say, the biggest losers were the “spec” builders and investors, not the average homeowner.

     Even though you cannot purchase a new home today for the price I paid in 1960, nevertheless, the principle has not changed. Regardless of inflation, market conditions, or any other factors, there is nothing that can replace the “American Dream” of home ownership. There is never a bad time to realize the dream!

Written and submitted to The Black Mountain News by Sid Blake, ERA Pinnacle Properties

1. First impressions count!

Just like Mom always said, you never get a second chance to make a first impression.  Look at your home’s exterior with a critical eye.  A well-manicured lawn, neatly trimmed shrubs, and clutter-free porch look inviting to prospective buyers.  If it’s autumn, rake those leaves.  If it’s snowy, shovel the walkways.  The fewer obstacles between prospective buyers and getting them in the door the better your chances for selling your home will be.

2. Start with a clean slate 

Once prospective buyers open the door they shoud see a tidy home, not a disaster area.  Take the time to clean the living room, the bathroom, and the kitchen.  Prospective buyers would rather see how great your home can really look, rather than try to imagine how great it could look with a little TLC. 

3. Small oversights can turn into big deal breakers

Even though it may not seem like that big of a deal, burned out bulbs leave prospective buyers in the dark.  Be sure to change them immediately!  Dripping water is another little thing that can really be a big deal to your buyer.  It rattles the nerves, discolors sinks and suggests faulty or warn-out plumbing.  Fix it fast!  Don’t let the small stuff detract from all of your home’s good qualities.

4. Don’t shut out a sale

If cabinets or closet doors stick in your home, they’ll also stick in the minds of prospective buyers.  Don’t try to explain away a sticky situation when you can easily plane it away.  A little effort on your part can go a long way toward a succesful closing.

5. A safety net for your home

Home owners learn to live with booby traps: skateboards in the entryway, overloaded extension cords and even slippery throw rugs.  Make sure your home is safe for prospective buyers by correcting hazardous situations.

6. A place for everything

Keep in mind, potential buyers are looking for more than just a comfy living space.  They are also looking for plenty of storage place for all of their stuff.  Make sure your attic, basement, garage and closets are neat and free of clutter.  It’s probably a good idea to take care of these things anyway to ease your moving process when you do sell.

7. The heart of the home

You want to make sure that your kitchen is sparkling.  Keep the range clean, wipe down the refrigerator, and make sure all dishes are cleaned and put away.  For an extra special touch before a showing, throw on that apron and bake something.  There is nothing that says home like the smell of fresh baked goods.

8. Make your bathrooms shine, shine, shine

As crazy as it may sound, bathrooms sell homes, so let them shine.  Check and repair any damaged or unsightly caulking around tubs, showers and sinks.  For even more appeal, put out your best towels, mats and shower curtains.  Light candles or place an electric scent diffuser.

9. Create sweet dreams in the bedrooms

 A dream house starts with a dream bedroom.  Make yours appealing.  Colorful bedding and fresh window treatments are a must.  Layer beds with several toss pillows and a seasonal throw to create a retreat atmosphere.

10. Peel back those blinds

Let the sun shine in! Pull open your curtains, drapes or blinds so prospects can see how bright and cheery your home is.  The more light the better.

11. Lighten up at night

The turning point could be turning on all of your lights - inside and out – when showing your home in the evening.  Lighting adds color and warmth and makes prospective buyers feel welcome.

12. Avoid big crowd scenes

Potential buyers often feel like intruders when they enter a home filled with people.  Rather than giving your house the attention it deserves, they rush through.  Leave when possible or keep company present to a minimum.

13. Pets may pose problems

We all know that dogs and cats are great companions, but when you’re showing your home they may get underfoot.  Try to do everyone a favor: Keep them outside, at a neighbor’s house or in their kennel.

14. Volume discounts matter

Rock-and-roll will never die…but it just might kill a real estate transaction.  When it’s time to show your home it’s time to turn off the stereo or television.

15. Relax, but don’t distract

If you are at home during a showing be friendly, but don’t try to force conversation.  Prospective buyers want to view your home with a minimum amount of distractions.

16. Be it ever so humble

No matter how humble your abode, never apologize for its shortcomings.  And if a prospect volunteers a derogatory comment about your homes appearance or condition let your experienced real estate professional handle the situation.

17. Keep a low profile

No one knows your home as well as you do.  But real estate professionals know buyers – what they need and what they want.  Your real estate profeessional will have an easier time articulating the virtues of your home if you stay in the background.

18. Don’t turn your home sale into a garage sale

When prospects come to view your home, don’t distract them with offers to sell furnishings you no longer need.  You may lose the biggest sale of all.

19. Defer to experience

When prospects want to talk price, terms or other real estate matters, let them speak to an expert – your real estate professional.

20. Help your agent and your home will sell fast

Your real estate professional will have an easier time selling your home if showings are scheduled through the office.  And you’ll appreciate the results – a SOLD sign!

Recent events in our economy have revealed what was known by experienced real estate agents for a long time – property values had exceeded sustainable levels. Another underlying cause for the economic woes was that credit was being extended to those unable to repay the mortgage. Having these “under qualified” buyers enter the real estate market served to exacerbate the problem of rising prices and not enough inventory. An article by Steven A. Holmes in The New York Times published September 30, 1999, declared that “Fannie Mae eases credit to aid mortgage lending”. The article stated ” in a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders”. The stated purpose of this program was to give mortgages to individuals whose credit was not good enough to qualify under existing conditions for a conventional loan. Does anyone else see a problem here? Although the contenders for blame are many, this one stands out.

 After directing Fannie Mae to ease credit restrictions in 1999, the Department of Housing and Urban Development proposed that by the year 2001, fifty percent of Fannie Mae and Freddie Mac’s loans be to low and moderate income groups. There were racial overtones to this rationale, admitted to by Fannie Mae officials, but I dare not go there. Suffice to say, these decisions made in the “roaring 90’s” have been a major contributor to the economic melt-down. Home ownership never has been a fundamental right. It is a privilege extended to those who can afford it.

During the boom years extending from the 90’s into the first half of 2007, home ownership was within anyone’s grasp who was breathing and had some verifiable income. In many areas, houses were in short supply. As inventory stayed low and demand increased,  prices for available homes soared well beyond levels which could be sustained. With the collapse of easy mortgage money and  bank foreclosures on loan defaults, the real estate market bubble burst.

As stated in one of my earlier articles, Black Mountain had largely escaped the real estate market collapse experienced by many areas around the country, although home prices have decreased slightly over the last year. For buyers, this is a unique opportunity, since a decline in property values in our area is rare indeed. My confidence level is high that those with good credit and high income to debt ratios will benefit by the current economic slow-down. Mortgage money is available to those who can qualify under the tighter lending guidelines. As of this writing, there are over two hundred homes available within the Black Mountain zip code listed in the MLS. The selection of homes has never been better nor prices more attractive. The “sky is not falling” on the real estate market in the Swannanoa Valley area. Buying real property has been and will always be the most secure long-term investment that one can make. Buying the right property, in the right area, at the right price will always be a wise investment decision. Now is a great opportunity for buyers with wisdom.

Submitted by Sid Blake for publication in the Black Mountain News.

Welcome to the Black Mountain Real Estate Blog!

As part of our commitment to provide you with an exceptional real estate experience we at ERA Pinnacle Properties have created our Black Mountain Real Estate Blog .  We are very excited because this gives us another platform to share our knowledge with you!  We will be writing about all things Black Mountain and the surrounding communities, because we love where we live and we want you to love it too. 

Be sure to visit the Black Mountain Real Estate Blog frequently to find valuable, up to date information pertaining to Black Mountain Real Estate, featured Western North Carolina communities, tips for buying or selling your home, and many of the attractions and events that the greater Asheville, NC area has to offer. 

Most importantly we want to hear from you!  Don’t be afraid to click on “Leave a Comment” to let us know how we’re doing, ask questions, or especially if there is a topic you would like for us to feature.  Whether you’re wanting to know more about the Black Mountain real estate market, or just where to get the best BBQ, we want to be your number one source for information on all things pertaining to Black Mountain and the surrounding communites.