TRUE STORIES (no ads) -
Asheville Acreage/Land for Sale Series - 1031 Like Kind Exchange
Recently, a large acreage investor excited about relocating to Asheville from Boston and I got together over a cup of tea. She had found us via ActiveRain-Trulia and our Asheville Acreage and Land for Sale- TRUE STORIES (no ads) Series.
The Topic of our conversation: LAND and The 1031 Like Kind Exchange-
She was interested in “GREEN” (as in large acreage) investment strategies. Her wonderful old brownstone was on the market and she expressed concern about how the 1031 Like-Kind Exchange would work in terms of exchanging that residential investment for LAND. But before she "took off into the wild green yonder" (see photo) as she put it, she wanted to address a couple concerns.
taking off into acreage investment is an awesome adventure in Asheville
Did you know that 87% of all U.S. farms are operated by families or individuals?
Two Asheville Area Acreage and Land Buyer Know-Hows
Before "Taking Off" Into Awesome Investment Opportunities
1. THE MATCH: Having heard “by the grapevine” that this was not possible, she mistakenly believed, that she absolutely had to acquire property exactly like the property she was about to relinquish.
“In searching for a 1031 Like-Kind Exchange in the Asheville, N.C. area,” she told me, “how will I be able to locate an exact match for our three-story brownstone?”
“Finding an exact match when you are looking for land for an eco-sensitive development is not required,” I assured her. “And while we may have a limited supply of three-story brownstones, you can select from is a wide variety of exchange properties.You not only have latitude as far as choices go, but an intriguing menu of land for eco-sensitive development and/or conservation from which to choose under the 1031 Exchange Plan.”
2. A SAFE INVESTMENT:With regard to a “safe” investment—she wondered how the large acreage and/or farmland real estate market looked as compared to building lots in developments. Here is a good source for information about farmland real estate Farmland Value Survey Iowa State University
RESOURCES: Considering investing in land and acreages in the Asheville area? The Trailblazing Team is on the scene with advanced education from The REALTORS LAND INSTITUTE. We specialize in land brokerage related to: farms, ranches, recreational, timberland, and other specialty land properties, undeveloped tracts of land, transitional and development land, site selection , land valuation... . Here are some INFO LINKS:
Purdue Agricultural Economics Report-
University of Illinois Department of Agricultural and Consumer Economics (ACE)
Iowa State University Extension and Outreach: Farm Management
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Asheville NC Real Estate Journal for RESOPURCES & REFERRALS -Mountain Homes and Land Legacies- Asheville 1031 Realty© 2014. Designations: NAR GREEN®, EcoBroker®, Eco Certified ®Real Estate Consultant, ePRO®. Unauthorized reproduction of any information including photos and graphics on this site is a violation of existing copyright laws. All rights reserved.
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