Compiled by Bonnie Black • November 21, 2010

The following transfers were filed in the Register of Deeds office Nov. 8-12:

Asheville

• 26 Moriah Lane (Lot 9 section 2 of Applewood Estates), $230,000, U.S. Bank NA to Scott E. and Laura Lee Larson

• Lot 4 of Ashewood, $9,000, Bank of America to Stanley Crownover, Cathryn Greenberg

• Lot 3 of Ashewood, $9,000, Bank of America to Stanley Crownover, Cathryn Greenberg

• Lot 78 section 2 of Botany Woods, $162,500, Trust for Richard E. and Mary Jean Slyfield, Craig R. and Jan Slyfield, Cheryl S. And Christopher Aller, Christine S. and A. Craig Stephenson to Matthew Fensterer

• 62 Davenport Road (0.314 acre), $172,500, David Benjamin and Amanda Womble Greer to Joseph Matthew Reynolds, Margaret Frances Poist

• Lots 1-3 (portion of lot 4) on Broadway St., $1,550,000, Chris J. Peterson to Heady Buds LLC

• Brookshire St. (Lots 6-7 of Biltmore Park block 7), $134,500, Karrie R. (f. k. a. Shroat) and Charles Don Holloway to Diana M. Manee

• Unit 207 of Biltmore Park building 4A, $287,500, Town Square West LLC to Samuel K. and Kimberly M. Young

• Lot 16 of Biltmore Forest block T, $1,025,000, Morton Bachikoff to Donald and Jennifra Gray

• Unit 204 of Biltmore Park Town Square building 4A, parking space 80 and storage closet 8, $210,000, Town Square West LLC to Gerald C. and Patrice M. Karp

• 704 Timber Lane (Unit 4 of Timbers Condos building VII), $320,000, John and Jean Owen to Gary S. and Martha J. Singer

• 2 lots on Haywood Road, $51,000, Milagro LLC to Sustainable Development LLC

• 24 Willow Road, $775,000, Dale W. and Sara R. Markley to Brad V. and Sarah S. Martin

• 63 Azalea Drive, $160,000, William and Sarah Campbell Price to Joanne L. Bottinelli

• Lot 46 block F of Malvern Hills, $187,000, Gerald R. and Barbara A. Myers to Cara R. Freije, Henry W. Fuseler IV

• Unit 2 of Patton Flint House, $250,000, Douglas S. Smith, Rowena Patton to Edward and Suzan Joiner

• Lot 10 of Village Creek West, $38,000, Michael and Cynthia L. Ferguson to Oleg V. Romashchuk, Marina A. Zatsepa

Biltmore Lake

• Lot 29 block A2 of Biltmore Lake phase 2, $390,000, Matthew and Natalie King to DBJ Co. LLC

Black Mountain

• Lot 33 of Cheshire A Mountain Village phase 2, $465,000, Michael Ryan and Kelly Lynn McClellen to Theresa Powers

Buncombe County

• Unit 13 of Rose Hill Plantation, $275,000, Rose Hill Plantation Development LLC to Peter R. and Linda A. Niemczyk

• Lot 1 of Creekside at Bee Tree, $53,000, GMR Bee Tree LLC to CMH Homes Inc.

• 46 Covington Way (Lot 1 of Covington Crossing), $131,000, Robert W. and Mary Raab McConnell to L`1aura C. McConnell

• Lot 49 of Buffalo Mountain, $440,000, William W. Catlin to Ellen M. Glenn and Mark W. Evans

• 46 High Top Colony Road, $5,000, Commissioner Scott Carter, Diana R. Mahaffey, Frances Dougherty to Stephens Smith Farrell

• Lot 25 block K1 of Rhododendron Heights, $70,000, Freshwater Affiliated Holdings LLC to Pisgah View Community Services Inc.

• Lot 17 of Leisure Woods, $191,000, Carl Ricciardelli, Kimberly Childs to Catherine Christianson

• 18 Salem Church Road, $29,000, Marie Hensley Bastien to Micah C. Duck

• Lot 145 of Stoneybrook, $149,000, Mike and Connie Hammontree to Marian Wheeler

• 5 Elite Lane (Lot 6 of Pleasant Valley Estates), $122,000, J & J Investments of WNC Inc. to Jennifer Holcombe

• 250 Gouges Branch Road, $55,000, Wells Fargo Bank NA to Jeff Shultz, Richard Shultz, Diana Shultz

• 167 Reed St., $157,500, Milo B. and Nanci M. Garren to Maria Reyna Lazcano Valentin

• Lot 91 of Seven Falls Golf and River Club, $23,000, Michael A. and Rebecca G. Dean to Unique Logic LLC

• 265 Old Haw Creek Road (2.438 acres), $197,500, Chares E. and Jaime Lee to Pablo Sagaribay Jr., Lorrie Harris-Sagaribay

Candler

• Lot 10 Holcombe Woods phase 2, $262,000, Matthew P. and Amanda R. Palomares to James F. and Beverly Lay

Fairview

• Lot 9 of Ambient Hills phase 1, $31,000, Ambient Hills LLC to D. Douglas and T. Lynn Trezise

Fletcher

• Lot 8 of Fox Ridge, $340,000, Arthur Greenburg, Kathryn Porter Greenberg to Jonathan M. Ryan

Leicester

• Fifty percent interest in 2 tracts on Brookshire Road (5 acres), $5,000, Janice M. and Curtis Youngblood (Velda A. Morgan Estate) to J. B. and Wilda Jane Kelly Arrington

• 18 Zion Road, $25,500, Keith and Jeanne E. Gillespie to Danielle Kristine and Robert Louis King Jr.

Swannanoa

• Lot 3 block C of Rolling Hills, $106,000, Real Estate Properties of the Carolinas LLC to James L. and Margery R. Utterback

• 460 Lytle Cove Road (2.06 acres), $160,000, Estate of John F. Schultheis, John F. Schultheis Revocable Trust to George E. Douglas

Upper Hominy

• Lot 5 of the Meadows, $180,000, Michael A. and Vicki L. Teem to William Martin Wyatt

November 2010 . Market Update The housing market continues its gradual recovery without the aid of the tax credit. Sales are slower but growing. Although it will likely be uneven at times, slow growth is believed to be the trend moving forward. Interest rates hit a new historic low again, a major factor in helping keep mortgage payments incredibly affordable. Extended periods of record low interest rates and further plans from the Federal Reserve Board to expedite recovery have some concerned about future inflation. One such investment guru, John Paulson, touted the benefits of owning real estate as a hedge against inflation on Forbes.com. “Your debt and interest payments get locked in at record lows, while the price of your home will rise … If you don’t own a home buy one … if you  own one home, buy another one, and if you own two homes, buy a third and lend your relatives the money to buy a home.” This march back up continues to provide excellent opportunities: an ample selection of homes, affordable prices, and historically low interest rates. Experts anticipate both the economy and the housing market will continue their paths on the way to a complete recovery. Home Sales Home sales continued to rebound in September, increasing 10% compared to the previous month.  This builds on August’s gain of 7.6% that followed a large drop caused by the expiration of the federal tax credit in July. Sales are expected to gradually grow as the market moves toward recovery without government stimulus. The recent foreclosure moratorium has opened up opportunities for short sales. Although it could make the near-term “choppy at times,” industry experts expect the overall trend to continue growing slowly. Home Price After four months of prices remaining on par with year-ago levels, September showed a slight decline. Last September distressed properties were 29% of all home sales; this September that number rose to 35%. The larger proportion of distressed sales, which are typically discounted, helps to explain the decline. While these discounted sales provide opportunities for buyers, sellers look forward to the general trending upward of home price.  Inventory There are fewer homes on the market again in September, representing 10.7 months of inventory. While still at a relatively high level, months of inventory shrank by nearly a month in September from August’s 11.6 and nearly two months since the 12.5-month supply in July. This continues to represent an excellent opportunity for buyers and investors who have not yet taken advantage of the abundant opportunities of the market including record low rates, an ample but shrinking selection of homes, and highly affordable prices. Affordability Housing remains at near-record affordability levels, and prospective home buyers stand to benefit from the lowest mortgage rates in decades, as well as advantageous home prices. Housing is approximately 60% more affordable now than during the height of the market. Source: National Association of Realtors Interest Rates Mortgage rates once again set new record lows in early October to 4.19% and remained below 4.3% throughout the month. These historically low rates contributed to real savings for buyers. Furthermore, the longer the buyer owns the home, the greater the savings they will realize. As economic activity gains momentum, rates will rise to keep inflation at an acceptable level. Rates as of November 4 . This Month’s Video Topics For Home Owners, Buyers & Sellers Prime Time to Buy 7 Reasons Why Now Is a Great Time to Buy a Home Recent history has reframed some of what had long been taken for granted about buying a home. Namely, we’ve learned that even though buying a home remains one of the best and safest investments available, a home should not function as an ATM or a short-term speculation strategy. So, where does that leave us? A lot smarter, able to recognize an opportunity when we see one, and aware of the facts that point to now as the prime time to buy a home. Home affordability is at an all-time high. The median mortgage payment on the median-priced home, as a percentage of the median household income, is lower than it’s been in a generation. Mortgage rates are at rock bottom. It’s hard to imagine interest rates going much lower, and when they start to inch back upward, monthly payments and total loan costs will spike upward. Home prices are back on the rise. After declining for 30 months, home prices are trending back upward. The time to get in the market is now. Sellers are motivated. This means that buyers have the upper hand.  Sellers are fiercely competing among an excess of housing inventory, which often means buyers have untold choices and negotiating power. Financing is readily available. Banks are back in the game and ready to lend to well-qualified buyers. Owning vs. renting is increasingly favorable. Since 2009, the average principal and interest payment has fallen below the average rental rates, and the gap is now wider than it’s been in the past 22 years. Homeownership is still at the core of the American Dream. Owning a home is critical to financial stability and wealth building. It’s a forced savings account, a place to live, and a fabulous tax deduction. For more detail, check out Keller Williams Realty’s 7 Reasons Why Now Is a Great Time to Buy a Home! and The Wall Street Journal’s 10 Reasons to Buy a Home. Sources: The Wall Street Journal, Inman News, KW Research	Rowena Patton List your home: www.SellThisHouseAsheville.com Buy your home www.PattonPropertyGroup.com 828 210 1648
Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report. The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources.  You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion.  Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind.  All information presented herein is intended and should be used for educational purposes only.  Nothing herein should be construed as investment advice.  You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.  All investments involve some degree of risk.  Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.

The Village of Cheshire Black Mountain NC – this is the lovely neighborhood I live in. The location offers proximity to Asheville NC, just 15 easy hwy minutes away, as well as being a small town with a lot to offer! Black Mountain has an unusual mix of upscale shops in its old-fashioned down town, such as hand made chocolate makers, and a wine market owned by an internationally acclaimed chef! Christened ‘Black Mountain, the restaurant town’, Black Mountain has a lot to offer in terms of variety of restaurants.

The Village of Cheshire is less than two miles from the I40 exit. Homes started being built about 10 years ago, and there is a mix of townhomes, treehouses, lots,  and single family homes available. The architectural code dictates that all natural materials are used – for example you will not find HardiPlank or cultured stone here. There is a central park area with a creek running through it, and 3 restaurants and a mini deli are on site, as well as other commercial offerings. Fitness enthusiasts enjoy the Cheshire fitness center.

Homes are available from $319,00 to $1,300,000. More more information and slide-shows of the neighborhood, visit CheshireResidences.com

The following transfers were filed in the Register of Deeds office Oct. 18 – 22:

Arden

• 140 Vista Blvd. (9.4 acres), $2,775,000, Hasco America Inc. to Reich USA Gmbh

• Lot 116 phase 1 of the Meadows of Bradley Branch, $164,500, Carolyn E. Breedlove to Jennifer E. Bird

Asheville

• Lot 3 of Riverbend Marketplace, $975,000, Greer Land Co. Asheville NC No.2 LLC to Halle Properties LLC

• Unit 403 of Beaucatcher House Condominiums, $125,000, Beaucatcher Condos LLC to Emily E. Kuhns

• 144 Cumberland Ave., $440,000, Keith Everette Shanty to Lindsay Hearn, David Joerling

• 2.22 acre lot on Vine Street, $19,000, North Properties LLC to Tarn S. Ananda

• Unit 4 cluster O of Crowfields, $230,000, Wells Fargo Bank NA to Natalie F. Leffert Trust

• Lot 5 block B section 4 of Oak Forest, $275,000, Ronald M. Kimzey, William B. and Rosetta T. Kimzey to Erika (f. k. a. Williams) and Therman Richie II

• Lot 7 section 1 of Wilshire Park, $177,000, Donald R. and Barbara M. Buell to Stacey Marie and William Lee Coleman Jr.

• 4.2 acres on Brevard Road, $1,300,000, Gloria B. Warren to Albert G. Morgan

• Unit 611 of Sunset Ridge, $100,000, Kathleen Anita Davis to James E. Akers

• 504 Deaverview Road, $147,000, Caroline Sprinkle and Donald R. Shelley, Patricia Sprinkle and Alan Tucker to Christine L. Woomer

• 14 Jarrett St., $150,000, Susan E. Hafer to Matthew S. Drury

• 175 S. Lexington Ave. (Unit C101 of Lexington Station), $215,000, Michael A. and Alexa M. (a. k. a. Alexa Memory) Bazley to Carol Christie and Cecily Deex

Avery’s Creek

• 756 Pole Creasman Road, $198,000, Joe Ira Allen Jr., Larry Dean and Sherry E. Allen to Kevin and Cindy O’Brian

Black Mountain

• Lot 17 of Stonecrest, $485,000, Black Mountain Concepts Inc. to Tamara Weldon Bacon

Buncombe County

• 91 North Griffing Blvd. (0.358 acre), $420,000, Andrea Russon Gravatt to Jeffrey M. Konz

• Unit C building 15 of Woodland Trails, $110,000, Richard T. and Hilary G. Brindley to Karen H. Allison

• 212 Alpine Ridge Drive (Unit 74 of Mills Creek Condominiums phase 2), $157,000, Mills Creek Developers LLC to Susan A. Schuetrumpf

• 15 Terrace Court (Unit 13 of Terrace Court), $145,000, Hometrust Bank to LMT Reality LLC

• Unit 28B3 of Pisgah Estates (Condominiums), $145,000, Carolina Conference Assn. of Seventh Day Adventists Inc. to Carolina Adventist Retirement Systems Inc.

• 567 Bee Tree Road (Lot 1 section 1 of Bee Tree Heights), $140,500, Asheville Rei LLC to Ronald Norman Sanga II and Laurie S. Tollman

• 20 Bens Cove Road (1.771 acres), $12,500, Billie Sue Parham to Terry A. and Carolyn R. Watts

• 115 High Valley Estates, (Lot 2 section 2 of the High Valley Estates), $31,500, Charles William Messer to Morris Cline Shelton

• Unit 27 of phase 1 Racquet Club Village, $190,000, Rodney Hardy and Virginia Hendon Porter to Dennis Charles and Barbara S. Redding

• 104 Hazzard St., $95,000, Estate of Marian Fritts, Michelle Denise and Glenn Curtis Wilson, Terry Raynor and Albert Carlyle Jr. to Hartwell Hodges and Jessica Jones Carson

• Lot 3 of the Hills of Sassafras (Sassafras Valley Road), $48,000, Sassafras Valley LLC to CMH Homes Inc.

• Portion of lot 3 on Johnston Blvd. (.427 acre), $100,000, Citimortgage Inc. to Federico and Maria T. Marquez

• Lots 3-4 of Dorico Inc., $190,000, Mark D. and Pamela C. Terry to Robert K. and Paula S. Roseborough

• 62 Woodhaven Road (Lot 8 section 1 of Covewood), $165,000, Jonathan and September (a. k. a. Septembor) Lim to Nicole Killeen, Douglas Trimbach

• 254 Baird Cove Road, $124,000, George F. Doster to Olin R. Blankenship

• 84 Wyoming Road, $95,000, Robert C. Butler (one half undivided interest), Tony Aiken (one quarter undivided interest), Wilma L. Scotti Lawson (one quarter undivided interest) to CC Max and Assoc. LLC

• Lots 129 and 147 of the Solomon Luther property, $76,500, Scott J. and Lisa Staubin to Fins Deep LLC

• Lot 13 block 2 section 1 of Bee Tree Heights, $107,500, State Employees Credit Union to Jesse R. and Meridith C. Mitchell

• Lot 4 of Monarch Estates phase 1, $13,000, TD Bank NA to Donna Pappas

• Lot 39 of Waightstill Phase 4, $270,000, Eva G. and Daniel B. Steward to Paige Dickens and Jack Franklin Wheeler Jr.

• 11 Terrace Court (Unit 11 of Terrace Court), $145,000, Hometrust Bank to LMT Reality LLC

• Lot 20 phase 2 of Bee Tree Village, $255,000, Chris Raymond to James

E. and Susan M.

Brasfield

• Unit 402 of Biltmore Crossing phase 2, $155,000, Warren Haymond Revocable Trust to Mary Pauline Johnson

Fairview

• 189 Bethany Church Road (Lot 5 of Mountain View Estates), $152,000, Ernest Paul Bocchinoo III to Ruth E. Hackett, Rebecca J. Hackett

• Lot 1 of Oak Knolls, $195,000, Anthony J. and Grace Hunter to Jay E. and Mary Allison Hustead

• 0.55 acre on Old Fort Road, $27,000, Joseph D. and Tammy Ray Hollifield to Danny L. Barnwell

Flat Creek

• 230 Allman Hill Road, $100,000, Estate of Howard B. and Frances B. Ray, Harlon Willie and Judy Ray, Wendell Earnest and Barbara Ray, Marvin Paul and Grace C. Ray, Richard Dale Ray, Sandra Gail Ray and Carson Fender, Howard Michael Ray, Anne Elliott to Howard Michael Ray and Anne Elliott

French Broad

• Lot 8 of the Zeno H. Ponder subdivision, $44,000, John Leroy Robinson to Randy P. and Martha Collins

Leicester

• Lots 23, 25-26 of Turkey Creek Farms, $260,000, Sally (a. k. a. Sally W. Smith) and Louis Stein to R. Norwood and Catherine S. Gay

Limestone

• 26 Willowick Drive (Lot 26 of Willoughby Run), $115,000, Kathryn L. Brown to James W. Ricketts, Richard N. Schnappauf

• 1.361 acres on U. S. Highway 25, $650,000, Steve Edward Smith to Carolina Day School Inc.

• Lot 22 block Z of Ramble Biltmore Forest, $295,000, Ramble Biltmore Forest LLC to Phillip B. and Caroline S.

Osborn

Lower Hominy

• Unit 22B3 of Pisgah Estates, $163,000, Norma Jean Dean and Norma Jean Dean Revocable Living Trust to Carolina Conference Assn. of Seventh Day Adventists Inc.

Upper Hominy

• Lot 35 section 1 of Mountain Brook, $155,000, Estate of Houston Charles Blackwell, Beth M. and John G. Babb, Barry G. Babb, Carol M. and Robert Houston to Katherine Shelia Barnette

Weaverville

• 2 acres on McKinney Road, $86,000, Mountain Views Grading Inc. to Tall Bridge Asset Backed Fund

Enjoy the lifestyle at Pinebrook Farms. Both town homes and single homes are available from $200,000. Models are available to move into now.

Pinebrook Farms

• Arts and crafts-style homes and town homes
• Main level living floor plans
• Quiet streets with wide sidewalks
• 12 acres of green space and walking trails
• Prices range from $330,000 to $480,000

Click here for HOMES and HOME SITES available in Pinebrook Farms
Click here for ALL HOMES AND HOME SITES AVAILABLE IN NEW COMMUNITIES

Single Homes – Townhomes – Carriage Homes

Bungalow – Montford – Kensington – Wexford

Creekside Townhome

Ellington – Merrimon

Silo and Red Maple     Foot Bridge into Nature Park

Reems Creek              Community Rose Garden

Clubhouse                             Pool