Blog :: 06-2008

Comments About the Housing Market From a Finanical Advisors Point of View

Pessimism regarding the real estate and stock market seems to be at a very high level recently. Realtors at their weekly meetings have admitted fear of advising clients to buy a house now, as they fear prices may be going lower. This is a very encouraging sign from a contrarian point of view. Whereas the last 1-2 years were filled with complacency and the gradual lowering of prices every few months, it seems we are getting to a point of outright capitulation, giving up, throwing up, and throwing in the towel, either by foreclosure, short sale, or regarding investment portfolios, its selling at the recent market lows into cash. All of these actions are guided by emotion, financial necessity, or both. Historically all these types of actions are what you see at bottoms of market corrections, not tops or the middle. The bottom line is, unless you are a real estate flipper or stock trader, this time-frame will probably be looked back on as one of the better buying opportunities in history (for long-term investment purposes), especially if you are purchasing a primary residence or long-term vacation home, and a great opportunity to add money to your retirement accounts if you have at least 5 years until retirement (contact a financial advisor for a risk profile before investing). So remember, emotionally you will feel like buying a home or investing in the stock market is the worst thing you could do when markets are much closer to a low, and you will feel giddy, and want to buy more real estate or invest more in the stock market when they are closer to a near-term high, both the opposite of what you probably should do. So be careful, but don't miss the opportunities that may present themselves during these difficult times. Have a plan, and good luck!
Quote: Fear is what creates the opportunity, greed is what looses it!
Justin M. Connors, MBA Branch Manager Financial Advisor
Raymond James Financial Services, Inc. Member FINRA/SIPC 101 N. Orlando Ave Cocoa Beach, Fl 32931
321.868-0732 800-868-9707 321.868-0772 Fax


  1. Brian Patton, CCIM on

    I agree it's a good time to buy. I also think the negative press has created a large part of this problem. Perception is reality. I recently heard a speech from a couple of guys that are very smart economists (at least they sounded like it and other people said they are). Here's some notes that i took from the meeting.

    Trooper David Shawn Blanton

    I have been wanting to post a tribute to a fallen NC State Trooper who was needlessly shot down while on patrol last week. You can find out more accurate details at other sites, but bottom line he pulled a man over just near the Canton NC exit on I-40. There was a scuffle and 24 year old Trooper Blanton was shot 2 times and later died of his injuries.

    Trooper Blanton was buried last Saturday and the funeral was held at Lake Junaluska. The funeral procession drove through Maggie Valley bringing Trooper Blanton to his resting place in Whittier. Hundreds of people lined HWY 19 from the lake through Maggie Valley and into Cherokee to pay final respects. It was one of the most incredible things we have ever seen in our lives. Police from all over. We should have counted cars, but I would say there was at least 200 police cars in the procession! I will post some pictures when we get them, but WOW!A great tribute to fallen hero!

    We send our best to the family especially Trooper Blantons wife. At the time he was fighting for his life in the hospital, his 2 week old premature son was fighting for his life in the same hospital. We got word yesterday that the child was placed on life support and was in critical condition. We hope and pray that this child has the strength to pull through. Please keep him in your thoughts and prayers. Please click on the link for a short video tribute to Trooper David Shawn Blanton g540


    1. Chris Blanton on

      My Thoughts and prayers go out to Trooper Blantons family. We must stay strong through times like these, and I will pray everyday for God to give Tye the strenth and will he needs to pull through this. As a former Police Officer, it saddens me so much to see such things occour, so again, please know that Tye and the entire family will be in my prayers.. God Bless,
      • Paul Emond on

        Please know that prayers are being offered from people all over the world for the Blanton family. I am just a member of a prayer network in California, but Tye and Michaela are being lifted up by complete strangers everywhere. Take heart.

        Blog Posts

        I want to apologize for the infrequent posts the last few weeks. Realty World Heritage has been a very busy place! I have stacks of newspapers on my desk with news that I would like to report, but just have not had the time. I am one of the few Realtors in our county I think that truly believes our market is going to pick up the second half of the year. I see it happening now! We are still lowering prices and I think the trend will continue through the end of the year. I personally am tired of lowering prices. We have tried to think and work outside of the box. For example, a small subdivision off of Fie Top near Ghost Town (Antler Springs); The Developer will pay the buyers mortgage for one year (terms and conditions apply) and our mortgage broker is able to do a 90% LTV for 3 years interest only with 6% interest. Again, terms and conditions apply, but what a deal. Buy a lot and not have to pay for it for one year? We will be pushing this one out to the public.

        I am going to post a few topics to get you caught up on what is going on. Please let us know if you have any questions about the area! The July 4th weekend next week and the Valley should be rockin!

        Maggie Valley Creekside Home For Sale

        If you are looking for that unique home look no further. This home could be described as a "diamond in the ruff", "a hidden jewel", "underdog" or whatever description you want to give it. This home must be seen to understand. The creek is one of nicest in the county with waterfalls, mini islands with waterfalls, and did I mention waterfalls! The yard is level. This is the mountains folks! We are offering almost an acre of level land in the mountains of Western North Carolina. Level yard and a creek! The home; The home is a home. Not a generic, new construction home that many builders are completing with absolutely ZERO personality or character. Yes, homes have personality and character and this one is the head of the class. The home was built in 1953 which explains a lot. Things built in that era where built right and built to last. But, do not worry. The home as been totally renovated and is very modern through out. Again, we mention personality and character. A real wood stove accents the kitchen, stone floor and wood burning fireplace in the living room, exposed beams, and over-sized bedrooms completes this must see. The exterior is a mix of stone (and not that fake stuff builders are using these days) and log siding giving the home a unique mountain look. The home is being offered at..............I am not done yet so keep reading, there is more! Level , year round access and the ability to walk to town. This is not any town we are talking about. This is Maggie Valley North Carolina. The premier mountain get-a-way in Western North Carolina. Sidewalks all the way to the center of this paradise. High gas prices? Who cares! You can walk to the action! The home is close to town, but still offers a great level of privacy tucked amongst the creek, ancient hemlocks, and fencing.

        Ok, so now do I have your attention? Want to know more? Want to see the home? Want to make an offer? Call me, call your second cousins boyfriends sister who is a Realtor, call anyone, but do it quick so you can get in to see this property. DIamonds in the ruff do not stay that way forever. Once the diamond is revealed everyone will want it. Once the demand goes up the price does the same. Basic economics my friends! Here are some last details: Huge driveway with plenty of parking, large firepit by the creek, concrete parking area with carport, wrap around concrete patio, could be used for commercial purposes, two outbuildings with one on the creek and perfect for a creekside pavillion. Thinking that all homes have negatives? I guess you are right that anyone can find something wrong with everything. This home is close to town and close to other commercial properties. All I can say is get over it! If you want what this home offers you have to drive past some commercial properties to get to it. So what! Once you get home you are in paradise!

        What else can I say? Oh yeah....The home is offered at $274,900! No! I am not kidding! This is the deal of the year! What are you waiting for? Start emailing for more information to, Call us at 828-734-5518, write to us, send us a telegram, pony express. We do not care how you do it, but get a hold of us to show this property to you TODAY!

        I think you will get the drift this is a special place! I will tease you with some pictures that will not do the property any justice. You have to see it in person to appreciate it. Contact us now and you will not be sorry!



        1. MIKE JAMIESON on


          Waynesville NC Home Sales Totals 21 in May of 08

          Waynesville Real Estate slow? Not exactly my friends. There were 21 residential homes (single family) sold in May of 2008 compared to 20 homes in May of 2007. Now stop watching those media reports!@ :) Real Estate in Haywood County North Carolina is doing just fine!

          Maggie Valley NC Homes Sales Totals 9 In May 08

          Slow Market? Not here in Maggie Valley in May of 2008. Maggie Valley (also includes Ivy Hill Township) had nine residential closings compared to 7 during the same time period in May of 2007. The solds included all single family homes!

          Haywood County Real Estate Stats for May 08 vs May 07

          55 residential listings sold in May of 08 compared to 68 during the same time period last year. Below is a breakdown of the month of May for 2008 and 2007 and is for all of Haywood County and includes residential, condos, and townhomes.

          May 2008 May 2007

          Listing Price Average: $257,665 $252,968
          Selling Price Average: $238,376 $243,517
          List to Sell %: 92.5% 96.3%
          Average Days on Market: 179 131

          April pending home sales rise as prices tumble

          By Joanne Morrison

          WASHINGTON (Reuters) - Pending sales of previously owned U.S. homes unexpectedly rose in April to the highest level in six months as foreclosed properties flooded the market and drove prices sharply lower, a real estate trade group report on Monday showed.

          The National Association of Realtors Pending Home Sales Index, based on contracts signed in April and seen as a key barometer of future housing activity, increased 6.3 percent to 88.2 from an unrevised 83.0 in March. Despite the uptick, sales were 13.1 percent lower than a year ago.

          "Bargain hunters have entered the market en masse, especially in areas that have seen double-digit price declines," said the association's chief economist, Lawrence Yun. Regions of the country that have seen sharp price declines, such as the West, are now seeing a sales recovery, he added.

          Economists polled by Reuters before the report were expecting pending home sales to decline 0.5 percent.

          "We are seeing an acceleration in foreclosures. As foreclosures have taken off, they put pressure on prices. Banks have become more aggressive with sales on homes they have foreclosed," said Christopher Low, chief economist at FTN Financial in New York.

          Low said the pickup in pending home sales could be a sign that the housing market could soon be stabilizing.

          "Sales will stabilize in the next few months and that will set the stage for inventories turning to normal sometime next year and maybe even for prices to appreciate a bit," he said. "For now, prices will continue to fall. There is still an inventory overhang that will take 18 months to work through. The end game of the housing bust is near."

          The median home price fell 8 percent in April from a year earlier, according to a report from the National Association of Realtors last month, which was the second-largest price decline on record.

          U.S. Treasury debt prices fell on Monday after the surprise jump in April pending home sales, while U.S. stock markets were up.

          The unexpected rise could be the result of statistical reporting issues being disrupted from an earlier-than-usual Easter holiday week.

          "The exceptionally early Easter meant that all the holiday disruption was in March, so April had more selling days than usual," said High Frequency Chief Economist Ian Shepherdson, expecting the May data will reflect a sharp drop.

          (Additional reporting Patrick Rucker and by Richard Leong in New York; Editing by Tom Hals)

          Waynesville Home Sales

          Here is a look at Waynesville Home Sales from the first of the year through May 31, 2008. There are currently 352 homes on the market in Waynesville NC.

          From 1/1/08- 5/31/08 83 homes have sold in Waynesville compared to 89 homes sold from 1/1/07-5/31/07. Who said the market was slow :)

          Maggie Valley Home Sales

          Here is a look at home sales in Maggie Valley from the first of the year through May 31, 2008:

          There are currently 291 homes for sale in Maggie Valley/Ivy Hill Township.

          45 Homes have sold from 1/1/08-5/31/08. Through the same time last year 66 homes had sold in Maggie Valley/Ivy Hill. I will break down the Waynesville numbers in a seperate post.