From the AC-T ...

The foreclosure rate for the Asheville area was up sharply in May over May 2008 but is still below those of the state and nation, a national real estate research firm says.

First American CoreLogic says 0.7 percent of outstanding mortgage loans in Asheville were in foreclosure in May compared to 0.3 percent in May 2008. The rate for North Carolina was 0.9 percent and for the United States was 1.5 percent.

... There were 1,825 foreclosure filings in the 12 months ended in May in Asheville, up from 1,360 in the previous12 months.

http://www.citizen-times.com/apps/pbcs.dll/article?AID=/20090707/NEWS01/90707052

Seems to me like Asheville is actually weathering the storm pretty well.

The market got nutty..the average median price home in Ventura CA. two years ago (where I came from) was 585,000…I think those houses are around 400,000 now..Asheville is doing so much better because the house prices were more in alignment with what people could afford and also because of the crystal vortex..