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One of three zip codes for Hickory North Carolina. Hickory's 28602 zip code is associated with addresses in Catawba and Burke Counties.
Great income potential in this 1940′s bungalow. Main level features 2BR, 1BA, nice size kitchen with breakfast nook, LR, Den/DR. Basement has both interior and exterior access and provides additional heated living space and an additional bath with shower stall. Unfinished part of basement appears suitable for workshop or storage. Two parcels totaling .69 acres. This is a court -ordered sale subject to approval by the Clerk of Superior Court. No owner financing. No lease purchase.
There were a lot of ways to attempt this analysis but the methodology adopted compares 2012 home sale prices with the corresponding assessed tax value of the property sold. The sales figures were “cleaned up” to eliminate bank and government sponsored entity sales. Short sales were also eliminated in an effort to avoid having distressed sales skew the findings. The comparison was done based on elementary school districts. The list is ordered from lowest burden to highest and includes Hickory addresses in Catawba County.
19 sales with an average price of $183,854
Hickory’s southern and easternmost reaches, the Blackburn district edges out number two by the slightest of margins to claim the title of having the lowest tax burden, and being Hickory’s #1 tax haven.
45 sales with an average price of $226,027
Hickory’s southern and westernmost reaches, the Mountain View district placed a very close second. By any measure it merits the distinction of being a Hickory tax haven.
11 sales with an average price of $117,877
One of Hickory’s easternmost reaches, the Webb A. Murray district barely had enough reported sales to warrant consideration. Nonetheless it earned the Hickory tax haven designation.
48 sales with an average price of $182,824
The center of sprawling northeast Hickory, the Clyde Campbell district barely earned its Hickory tax haven designation.
28 sales with an average price of $167,354
A highly sought after downtown location home to many of Hickory’s most historic and architecturally significant structures, the Oakwood district is easily one of Hickory’s most tax-conflicted areas. Some addresses in this district appear to be tax havens, while other homeowners here face a considerably higher burden.
25 sales with an average price of $211,266
Hickory’s northern and easternmost reaches, the Snow Creek district is home to Hickory’s newest school, and is the most recent addition to Hickory’s school districts. This district is another toss up.
14 Sales with an average price of $110,371.00
From the eastern edge of Viewmont to the eastern edge of Hickory, the St. Stephens Elementary (not high school) district.
53 sales with an average price of $220,721
Hickory’s northern and westernmost reaches in Catawba County, the Jenkins district includes waterfront properties and is home to some of the most expensive homes and most exclusive addresses in the Greater Hickory Metro. It’s balanced by other more modestly priced homes.
18 sales with an average price of $113,114
South of downtown along the HWY 70 corridor and north of the Mountain View and Blackburn districts, unlike these two neighbors on the list, the Southwest district is no haven when it comes to taxes.
43 sales with an average price of $223,880
Just north of downtown, the Viewmont district includes waterfront properties and some of Hickory’s most established neighborhoods. Its large but aging homes are selling for considerably less these days. Homeowners here have Hickory’s highest tax burden.
A comparison ranking of tax burdens for Hickory homeowners in Catawba County. Those that pay only Catawba County taxes pay a millage rate of .53 plus a fire district rate of approximately .o6 for a combined rate of approximately .60 for simplicity’s sake. Homeowners that pay Hickory City taxes pay .50, plus Catawba County taxes for a combined rate of 1.03 per hundred dollars value. These are 2012 tax rates.
Copyrighted listing data provided by the MLS of Catawba Valley, Inc. with all rights reserved.
Hard to find new construction in Mountain View features hardwood floors, wood burning fireplace, arched doorways, ceramic tile, double attached garage, dual HVAC units, and full basement for future exapnsion, storage, etc.. Main level parking, master suite, kitchen, laundry, living and dining area. Upstairs two bedrooms, and a second full bathroom. Modern neighborhood design convenient to Target in Newton, Apple in Maiden, I40 & HWY 321. Mountain View Elementary – Jacobs Fork – F T Foard.
Listing information courtesy of R A Joyce Construction (828) 381-2520.
For more about this neighborhood visit BerkshirePlace.Net
Remember 2007? The good old days when real estate values in Catawba County were reaching an all time high. Back when getting a loan was painless and everyone qualified for something. Back when you could borrow as much or more money than your home was worth.
In 2011 those that purchased or refinanced property at the peak of the market are faced with a harsh reality. Their property is likely worth less than what they paid for it. Less or little more than what they owe for it.
A glance back at Catawba County’s real state market for single family “stick-built” homes in 2007 shows 1327 sales with a sales volume $232,550,258.00, an average sales price of $175,245.00, a median sales price of $140,900.00, and homes sold after about 129 days on the market.
For comparison the first ten months of 2011 has produced 651 sales with a sales volume of $99,307,284.00, an average sales price of $152,545.00, a median sales price of $122,000.00, and homes sold after about 179 days on the market. Of course there are still two months left this year, but there is no reason to anticipate November and December sales will significantly improve 2011′s numbers.
Based on the number of homes sold during the first ten months of 2011 there is enough existing inventory to supply the demand through most of January in 2013. That’s if none are added.
The the fair market value of the average home in Catawba County has declined about 13% since 2007.
So what does all this mean?
To buyers this means they are clearly in the driver’s seat. Nonetheless, finding a fair market value won’t be easy. The staggering inventory level suggests most sellers have no immediate need to sell. Others simply can’t afford to sell their property for what its worth. Buyers will continue to face competition from other buyers for the few attractively priced properties.
To sellers it means times are tough. In order to succeed at selling their property they will likely settle for less, some considerably less than what they had hoped for. They face competition from others like them and increasing competition from lenders including banks, credit unions, and government sponsored entities. In 2007 lenders disposing of properties they acquired through the foreclosure process accounted for about 6.31% of Catawba County homes sales. In the first ten months of 2011 the market share for these “bank owned” homes was 17.72%. That might sound bad, but it’s worse in some adjoining counties.
Historically low interest rates favor both buyers and sellers. Whether it’s increasing the purchase power of qualified buyers or providing qualified home owners the opportunity to replace or restructure their existing mortgages, low interest rates make home ownership more affordable. Perhaps one day we will look back at today’s interest rates and realize, those were the good old days.
Data contained herein is from the Multiple Listing Service of Catawba Valley, a wholly owned subsidiary of the Catawba Valley Association of Realtors®. Opinions expressed are solely the opinions of the author and are not the opinions of the Catawba Valley Association of Realtors® or its membership as a whole.
Hickory is predominantly located in Catawba County, but includes addresses in southern Caldwell County, southern Alexander County, and eastern Burke County. The City of Hickory’s municipal offices are located in Catawba County at 76 North Center Street Hickory, NC 28601.
Pless Realty Services
Realtors®
42 3rd St NW
Hickory, NC 28601
(828) 326-8822
