North Carolina Real Estate Investment
North Carolina Mountain Property
Second Home Sales Rise Due to Tax Law Changes

North Carolina Real Estate Investment


If you are thinking about buying a second home you are part of a major transformation in the North Carolina real estate investment market. The annual number of people buying a second home in the US doubled between 2000 and 2004. Investments in North Carolina Real Estate are paying huge dividends for those who choose to purchase property in the mountains of North Carolina.

While demographics is part of the reason, thank the baby boomers, the other unexpected reason is the effect of tax law changes in the late 1990's.

When Congress amended the federal tax code in 1997 to permit up to $500,000 of gain (for married couples) on the sale of a primary home to be spared from taxation, homeowners did not have to buy expensive replacement homes anymore. With this couples can downsize into a less expensive primary residence and use the tax savings to buy a second home.

According to the NAR second home represented just 8.6 percent of all residential mortgages in the year 2000. By 2004 the percentage of second home mortgages had nearly doubled to 14.2 percent of all residential mortgages.

Who is selling and buying? Primarily baby boomers with above average incomes. The average household income for primary homebuyers in 2004 was $61,000, while the average income for second homebuyers was $102,000, nearly 70 percent higher. While investors helped drive this pattern in the past, due to poor returns in the stock market, demographics will be the driving force in the future. The NAR sees the boomers as the driving force for second home appreciation for the next 10 years.

Blowing Rock Investment Properties is privileged to offer signature services for investors and buyers seeking investment property and gracious living. We serve as buyer's agents for North Carolina luxury homes, horse farms, land, commercial real estate and 1031 exchange property. Our service area spans western North Carolina mountain real estate with a focus on real estate in Blowing Rock NC and the nearby towns of Boone, Banner Elk, Valle Crucis and West Jefferson. If you are looking for exceptional mountain property, please contact us.
We invite you to SEE OUR BLOWING ROCK NC REAL ESTATE listings and call us today!

We also invite you to visit our Western North Carolina MLS Search.  Blowing Rock Investment Properties' Blowing Rock NC Real Estate Agency offers the rare opportunity to search thousands of mountain real estate and luxury homes listings within our featured Blowing Rock NC Real Estate or the local MLS.


North Carolina Mountain Real Estate

At Blowing Rock Investment Properties we dedicate ourselves to the uncommon -- uncommon ideas, uncommon properties, and uncommon service. We're pleased to provide listings for:

Click this link for> North Carolina Luxury Homes - As a western North Carolina and Blowing Rock luxury homes specialists, we showcase the most distinctive private estates and luxury properties for potential buyers. Our expertise spans the luxury real estate market throughout the High Country area, allowing us to present buyers with a portfolio of the most notable estates our region has to offer.

Click this link for> Blowing Rock North Carolina Real Estate - As a specialist in assisting buyers to find the kind of property that they are desiring within the Blowing Rock area, we have posted numerous featured homes, lots and land as well as acreage for sale in the Blowing Rock and Boone areas.

Click this link for> 1031 Tax Exchange - Our brokers specialize in western North Carolina 1031 exchange property for those seeking the benefits of a tax deferred exchange. We assist buyers in finding their replacement properties quickly.

 

What does a 1031 tax exchange do for you? Find something that works better than what you have. Click here for more details. Article: NC Real Estate Trends

If you have any questions or would like more information, please contact us 866.795.7337, 828.295.7337, email us, or use our online request form.


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