Home values in Western North Carolina

Profile picture for BillyMcCoy6
As an active agent in Brevard, I feel that we are almost at the bottom value wise. Values in our area have fallen roughly 35 to 40%. I think that we will hit bottom late spring/early summer. What are your thoughts?
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January 12 - Brevard
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Profile picture for the_country_hick
You may have hit bottom in a ~4% interest rate environment.

Do you think that bottom can hold with higher interest rates?
A 30 year $100,000 mortgage costs $491.94 a month at 4.25%.
A 30 year  $82,000 mortgage costs $491.63 a month at 6.00%
A 30 year  $80,000 mortgage costs $492.57 a month at 6.25%

I do not see how it could happen as wages are not rising a lot.
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January 12
Profile picture for Sharon Lewis
I was invited to a conference where  NC State Professor of Economics Dr Walden spoke, if you email me, I will send you his power point. I think you will find it really interesting for North Carolina, very positive. 'Cautiously optimistic' for the U.S too. 
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January 13
 
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