Beverly-Hanks & Associates REALTORS®

As you wind into downtown Waynesville’s shop-lined streets, you’ll be greeted with virtually everything you’re looking for, including a wonderful day of strolling and welcoming, smiling faces. Stop for an outdoor lunch at The Patio or just pop in for a bottle of wine and scrumptious assortment of meats, cheeses and side dishes at their gourmet deli.

Entertain the little ones at Fun Things Etc, a toy store that offers old fashioned games, puzzles, and recreational toys. Afterwards take them for an old-fashioned milk shake or slice of homemade cake at Pheasant Hill. Choose the perfect pumpkin to carve at the United Methodist Church’s pumpkin patch in the fall. As dusk descends and you’re starting to think about dinner, you have your choice of a prime cut, Argentinean steak at Lomo Grill or a more laid back meal at The Sweet Onion, Nick & Nate’s or Bogart’s.

If you are looking to redecorate or just browsing for ideas, visit High Country for upscale ranch style furniture. Stock up on all of your domestic needs, including fishing gear, at Mast General Store. Dazzle your lady with a piece of hand crafted jewelry from The Jeweler’s Workbench.

While you certainly don’t need a reason to come to town, there are many unique festivals and events the entire family will enjoy. Celebrate the world’s cultural heritage through folk music and dance with Folkmoot, USA. Flushed cheeks will be warmed by fresh, hot cider at the Apple Festival. Taste summertime at the Mater Festival, a celebration of our favorite local produce, sun grown tomatoes. Let the picking of the banjo and fiddle carry you into the summer night at our numerous bluegrass music festivals and Friday night block party’s.

These are only a few of the sights, sounds and tastes that make Waynesville, North Carolina, so wonderfully unique!

From American Style Magazine:

Readers flew “the Land of the Sky” into the top spot in the Small Cities category for the first time this year. A walk along the streets of Asheville will prove why it deserves this honor, from the Art Deco buildings seen all over the city (including the town’s city hall) to the more than 50 galleries representing every medium. Reader Mark Flowers, of Alexander, N.C., explains, “Asheville’s creative scene runs from the visual art, the handmade craft arts, the music arts, down to the amazing small brewery arts. It’s a total package that brings me downtown whenever I am near.”

With two new public arts programs, Asheville is undergoing a downtown renaissance. In the city’s historical center, known as Pack Square, a new park opened this spring. Along with lush green space, Pack Square Park features an interactive water fountain (aptly named “Splashville”), an amphitheater decorated with handmade tiles, and original works of art by local artists.

Local artists also inspired the new Asheville signage program. More than 300 signs direct visitors and residents to almost 90 attractions, but what makes these signs special is in the details. The city’s artists were commissioned to create unique sign elements in the form of blown glass, bronze and wrought iron.”

Original article: American Style Magazine:

From Examiner.com

Asheville, North Carolina is BeerCity USA 2010.  While Portland, Oregon organized a healthy challenge against the western North Carolina city of Asheville, in the end the relentless craft beer enthusiasm for Asheville won out.

Full Article on Examiner.com

Here’s how ABC News describes Asheville:

“The city on the edge of the Appalachian Mountains features a funky and eclectic downtown, more than 30 art galleries, a large culinary scene and one of the most spectacular estates ever constructed in this country. ”

We welcome the First Family to our Area!

Read the entire article here: http://abcnews.go.com/Travel/48HoursIn/president-obama-vacations-asheville-art-galleries-restaurants-history/story?id=10434607

Beverly-Hanks and Associates, proudly endorses Asheville’s Google Fiber initiative. You can learn more about our community efforts by visiting http://googleavl.com

Here are a few links to get you started:

1. How to nominate Asheville in 3 simple steps http://googleavl.com/how-to-help-in-3-easy-steps/
2. 5 Ways you can help bring Google’s Fiber Optic Network to Asheville http://googleavl.com/2010/03/22/5-ways-you-can-help-bring-googles-fiber-optic-network-to-asheville/
3. Join GoogleAVL on Facebook  http://www.facebook.com/group.php?gid=302144763214
4. Follow the efforts on Twitter http://twitter.com/googleavl
5. Upload videos to Youtube http://www.youtube.com/group/googleavl
6. Add a Badge to show your support http://googleavl.com/asheville-google-fiber-website-badge/

You can also follow the latest news on http://googleavl.com

A big thanks to everyone involved in the efforts.  We will work on a few videos of our own and add a badge to our blog to show our full support.  Thank you Asheville.

Beverly-Hanks and Associates, Realtors
http://beverly-hanks.com

(Asheville, NC) On Thursday, March 25th, the Andrew Institute along with Keller Williams Realty is honored to bring to Asheville the internationally respected leadership expert, speaker, and author John Maxwell to benefit the work of the Eblen Charities and the Eblen Center for Social Enterprise. The program will be held at Biltmore Baptist Church in south Asheville with doors opening at 6:00 PM with the program beginning at 7:00 PM.

Dr. Maxwell is the founder of EQUIP, a non-profit organization that has trained more than 5 million leaders in 126 countries worldwide. Each year he speaks to the leaders of diverse organizations, such as Fortune 500 companies, foreign governments, the NFL, and the United Nations. A New York Times best selling author, Dr. Maxwell books have sold 18 million copies.

“It seems everyone is talking about leadership during these difficult times. No matter who we are, we all see the importance that leadership has in our lives. Whether in the field of business, education, government, or public service, we are acutely aware that there is no replacement for strong leadership and being able to connect with those we work with to move forward in these troubled times,” states Neal Hanks, president of Beverly-Hanks & Associates and board member of the Eblen Charities, “John Maxwell is the leading author and speaker on leadership in the world and to have him here in Asheville especially in a venue such as Biltmore Baptist Church is a rare opportunity for our community. And to know that the proceeds from this great event goes to assist families in times of need in our community through the Eblen Charities makes this all the more important.”

Founded by respected businessman and community leader Dewey Andrew, the Andrew Institute for Leadership and Public Service offers to the public and private sector a like to access to the top business and thought leaders as well as best selling authors. The Andrew Institute for Leadership and Public Service brings to western North Carolina corporate training and motivational leadership that has been seen across the world. In a unique partnership, the Andrew Institute not only benefits those seeking business training and leadership development but also serves to benefit those that Eblen Charities serves through direct assistance programs.

Corporate Sponsors for Maxwell on Leadership event are Keller-Williams Realty, Dewey Andrew, Joe Eblen, Northwestern Mutual, Dixon-Hughes, Beverly-Hanks and Associates, Rick and Denise Guthy, First Citizens Bank, Tri-Meck Mechanical, Michele Swicegood, Clear Channel Radio, WLOS-TV,, Park Ridge Hospital, Sheila Pelle, Buncombe County Sheriff’s Office, Buncombe County Schools, Applied Solutions, Asheville Radio Group, Biltmore Baptist Church, The Biltmore Company, and Frankie Bones.

Individual tickets for the evening presentation are $50 each and are available by visiting www.maxwellavl.com and entering the discount code Andrewinst. For more on Dr. Maxwell, please visit his website at www.johnmaxwell.com

For more information on the Andrew Institute for Leadership and Public Service and the Maxwell on Leadership event, please contact Bill Murdock at the Eblen Charities at 828-242-2848 or via email at eblenfound@aol.com

Neal Hanks, owner of Beverly-Hanks & Associates, announced today that he is now a 50% partner and co-owner of Private Mountain Communities (PMC) with Harry Redfearn, the Founder and President of PMC.

As the Western North Carolina real estate market continues to strenghten, Redfearn and Hanks believe timing is optimum for growing the company to meet predicted consumer demand for PMC’s services. “I’m very excited about the opportunity to have someone with Neal’s reputation and experience as a partner in PMC and Beverly-Hanks & Associates will create a myriad of synergies for our customers and the communities we serve in WNC,” said Harry Redfearn.

Founded in 2006, Private Mountain Communities was created as a real estate advisory service and buyer’s resource center to assist consumers as they evaluate master planned communities in this region.

The company utilizes a proprietary survey that matches consumers to the community that bests meets the unique lifestyle preferences of that buyer. “The PMC model is growing in popularity among consumers because more than ever buyers want resources to help them navigate through the overwhelming number of choices available here in Western North Carolina. The market has changed. Customers are demanding a more personal, progressive, innovative approach to buying real estate. This partnership allows us to take the lead in meeting that demand,” said Neal Hanks.

PMC’s state of the art showroom is located in the historic Grove Arcade building in downtown Asheville and is widely recognized as the region’s most comprehensive buyer’s resource center. “We showcase the area’s finest planned communities in one convenient location so families can preview them all in a pressure free environment,” stated Redfearn. “The showroom offers a warm and inviting atmosphere where customers can relax and explore communities at their own pace by reviewing dvd’s, brochures and utilizing the interactive community research tools on the large screen displays.”

With over 50 years of combined experience in lifestyle based planned communities, PMC is staffed with “Community Advisors” who have done the extensive on-site research to understand the unique offerings of each community. This independent and objective approach saves the customer time and ultimately helps them make a more informed decision.

The company’s website was created as an online buyer’s resource for anyone considering moving to WNC. Customers can take the survey, review and compare matched communities and learn more about Western North Carolina real estate.

We have great news to share about Western North Carolina Real Estate. The number of homes sold in January 2010 was up 18% over January 2009, with many counties experiencing greater overall growth. Asheville Homes for Sale experienced a 26% increase while Hendersonville Homes for Sale showed a 28% increase over the same time last year.

While the second home market remains soft, preliminary data indicates home prices are stabilizing in some price points. Many consumers are taking advantage of the historically low interest rates, oversupply of inventory, and the extended tax credit for first time home buyers.

If you would like for us to assist you in analyzing a specific market or market segment, please do not hesitate to contact us.

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As we begin a new year, we are pleased to provide you with our annual market report and analysis of Western North Carolina real estate sales during 2009. Prior year statistics provide valuable data and detail on what occurred in the market during the past twelve months. In order to fully understand the impact of “the great recession” on area real estate sales, it is also important to analyze monthly data compared to prior year and multiple years of year end statistics. Trend analysis helps forecast the direction in which we are now headed. For these reasons, this report contains more data than we have published in the past, including 7 years of year end data broken down by property type. Much of the data presented is for the region as a whole. In the event you would like for us to assist you in analyzing a specific market or market segment, please do not hesitate to contact us.

The good news, as the chart on the next page clearly illustrates, is that it appears that our local market has in fact reached the bottom of a downward slide that lasted almost two and a half years. Unit sales began to surpass those of 2008 in midsummer and unit closings followed suit shortly thereafter. The trend continued through the fall and winter and, as this report goes to press, most folks in our industry are reporting significantly improved levels of buyer interest. Many consumers appear to now recognize that historically low interest rates and an oversupply of inventory in many market segments has created a buyer’s market which we have not witnessed in decades. The improving economy has given many of these consumers the confidence to take advantage of such an opportunity. This positive momentum in both the economy and the housing market gives us reason for enthusiasm in the year ahead. 2010 should be one of continued improvement for Western North Carolina real estate sales.

While the real estate market is improved it may be a little early yet to proclaim we are “out of the woods” so to speak. Inventory levels remain high even considering increasing demand. It will take a while longer to reach the balanced level of supply and demand necessary to reduce the pressure upon housing prices. But remember, we are now headed in the right direction!

We hope that you find the data contained within this report useful. Whether buying or selling in today’s real estate market, the counsel of seasoned professionals can pay big dividends. Our professional Broker Associates stand ready to assist you and would consider it a privilege to do so.

W. Neal Hanks Jr.

Click here to view our 2009 Annual Market Report

The Cliffs at High Carolina stands by Tiger Woods

Update: from the Wall Street Journal From the Article:

ASHEVILLE, N.C.—Golf-resort developer Jim Anthony seemed to have pulled off a major coup by signing Tiger Woods to design the superstar’s first U.S. course at a 3,200-acre community in the high meadows of the Blue Ridge Mountains.

Since that deal in 2007, the value of the Tiger Woods name looks a bit more questionable in the wake of claims about his alleged infidelities that have destroyed his wholesome image. The development near Asheville, named the Cliffs at High Carolina, has been confronted by the same dilemma faced by dozens of companies that paid Mr. Woods enormous amounts to endorse their products: maintain the ties with the Tiger brand or cut him loose.

“I’m sure the Cliffs will probably change their marketing focus now,” said Nancy Thompson, a real-estate broker who has lived in Asheville for 15 years.

So far, the Cliffs is standing by Mr. Woods even as sponsors including Accenture Ltd. and AT&T Inc. have distanced themselves from the golfer.

“We’re as committed as ever to High Carolina and the Tiger Woods golf course,” Mr. Anthony said in a recent interview. “The reasons we chose Tiger are still true: his dedication to golf and he is the greatest golfer in the world.”

Read the entire article on The Wall Street Journal

Last Week in Review

“IT’S A RECESSION WHEN YOUR NEIGHBOR LOSES HIS JOB; IT’S A DEPRESSION WHEN YOU LOSE YOURS.” Harry S. Truman. Very true words indeed - and last week brought some market action when Fed Chairman Ben Bernanke discussed the recession, commenting that our economic recovery still faces “formidable headwinds.” As you can see in the chart below, the current recession we have been in has been the longest in nearly half a century.

Chart: Post World War II Recessions And because negative economic comments or news causes money to flow out of Stocks and into Bonds, Bernanke’s words helped Bonds and home loan rates to improve early last week…but these improvements were short lived. Bond prices and home loan rates responded poorly to the Treasury auctions of last week, as the Treasury instruments being auctioned off are in direct competition with Mortgage Backed Securities…and the continual record amounts of supply hitting the market requires record amounts of buying to take place as well. And remember - the Federal Reserve is winding down their Mortgage Backed Security purchasing program, so as they stretch out and ration their remaining purchases through the first quarter of next year, the reduced amount of their buying just adds to the problem. And as with any item, when there is lots of supply and diminishing demand - Economics 101 tells us that the price of that item will subsequently go down. So as Bond prices go down, home loan rates go up - and last week saw home loan rates increase by at least .125% across the board. Also adding to selling pressure on Bonds in the latter part of last week were several bits of good economic news. First, the Retail Sales Report for November was better than expected, marking the third monthly increase over the past four months. It appears that lower prices and good deals are helping to spur some buying activity, though it remains to be seen how this will impact retailers’ bottom lines. Consumer Sentiment was also reported quite a bit better than expected. AND SPEAKING OF RETAIL SALES AND CONSUMER SENTIMENT - ARE YOU STILL WONDERING HOW TO WISELY SPEND YOUR HARD EARNED DOLLARS WHILE HOLIDAY SHOPPING THIS YEAR…AND STILL FEEL GREAT ABOUT HAVING GIVEN A GREAT GIFT? CHECK OUT THIS WEEK’S MORTGAGE MARKET VIEW FOR GREAT HOLIDAY GIFT IDEAS UNDER $25.

Forecast for the Week

Last week may have been a slow one when it comes to economic reports, but the week ahead is full of action, beginning with Tuesday’s Producer Price Index (PPI) Report, which measures inflation at the wholesale level. More inflation news immediately follows with Wednesday’s Consumer Price Index (CPI) Report. Remember that inflation erodes the value of the fixed income that a Bond provides, so any signs of inflation can cause Bond prices and home loan rates to worsen. Wednesday will also bring a read on the housing market with the Housing Starts and Building Permits Report, as well as the Interest Rate Decision and Policy Statement from the Fed, following the end of their regularly scheduled Federal Open Market Committee meeting. A change in rates isn’t expected - but any comments about inflation in the Policy Statement could rattle Bonds and home loan rates. Also important this week is a look at the manufacturing sector, via Tuesday’s Empire State Index and Thursday’s Philadelphia Fed Report. Manufacturing reports have been all over the boards lately, but a marked improvement in either of these reports could cause Stocks to move higher, and in turn, hurt Bonds and home loan rates. Also in store for Thursday is another look at the weekly Initial Jobless Claims Report. Last week’s Continuing Jobless Claims fell to the lowest level since February, and while at first blush this decline would appear to be a good thing, it is likely that the numbers are reflective of people accepting part time or seasonal work that won’t last after the holidays. Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. As you can see in the chart below, Bonds and rates worsened after last week’s Treasury auctions. I’ll be watching carefully to see if Bonds and rates can muster an improving rally this week in the face of a heavy news week. Chart: Fannie Mae 4.5% Mortgage Bond (Friday Dec 11, 2009)

The Mortgage Market View…

Best Holiday Gifts for Under $25 The holiday season can be a strain on your pocketbook. Considering the current economic climate, it may be even more apparent this year than in the recent past. But there are still plenty of inexpensive holiday gifts you can give this year - even for under $25 - that will help ring in the holiday cheer! Godiva Chocolate - Godiva offers a number of chocolate selections for under $25. It’s not only a delicious product, but receiving chocolate in a little gold box is about as iconic as receiving jewelry in a little blue box. Visit www.Godiva.com to see the various selections. Bottle of Wine - A bottle of wine is a great gift of holiday cheer. And for $25, you can buy a nice bottle. Christmas Tree Ornament - This gift is obviously contingent on the recipient celebrating Christmas. Nonetheless, it is a thoughtful present that can be kept forever. Depending on the ornament, some can be personalized with engraved messages, as well as the year they were purchased. Lottery Tickets - This is another inexpensive gift you should consider. The idea of scratching off 25 lottery tickets can be a lot of fun. The gift gets even better if a number of the lottery tickets pay off. Tuck them inside a thoughtful card and you’re all set. French Press Coffee Pot - Every true coffee lover should have a French Press pot. And even if they already have one, they’ll probably enjoy another one to keep in separate locations or to be used simultaneously for larger get-togethers. A Journal and a Pen - One does not have to be a writer in order to find countless uses for a journal and a pen. A Board Game - From single folks to families, board games provide the perfect entertainment at a gathering with friends, or even a quiet weekend night at home. Homemade Gift Basket - Putting together a gift basket for someone allows you to tailor the gift precisely to the interests of the person who’s receiving it. Gift basket themes are limitless and can fit into any budget. Bath and Body Gifts - Everyone can use a little bit of pampering from time to time. With the variety of scented lotions and shower gels available today, you’re sure to find something within your budget. Times may be tough, but that doesn’t mean you need to completely forgo the tradition of holiday gift buying. You just have to be a bit more creative. Happy shopping…and happy holidays.

The Week’s Economic Indicator Calendar

Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.

Economic Calendar for the Week of December 14 - December 18