Asheville Homes and LAND!- The Keep In Touch Blog

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Post50 People, Investment Properties, Trends - Asheville-Style

Asheville Real Estate Journal

 

Recently a number of Asheville  REALTORS ® got together to talk about a wide range of subjects: Trends, client investment strategies, land, conservation and issues that come up during "deal evaluation". And we stirred up quite a conversation on the potential impact of (un)retiring “boomers”  on the marketplace. Was this all part of the "use change" process? We could picture how this might look... .

 

Graphic of Asheville area neighborhood

Examples: A pocket neighborhood... or maybe small apartment building  converted for Aging-in-Placethat Golden Girls concept. How about that?!!  There might be some challenges, for sure-  a single electric meter and A/C units shared by several apartments. But the purchase price would leave room for universal design improvements. 
And, 1031 investors could be in it for a good number.

How about the notion of  a single family house on a large lot zoned for multiple units. Good potential?  We talked about the "value" of the "dirt." Even though the land could carry 10 units, the purchase price of $875,000.00 seemed too high. The average condo in that particular area sells for $275,000.00 to $300,000.00. It was determined that the cost of the dirt can't exceed 25% of the selling price of the finished product. Less would be better.

Finally, the idea of building a series of green accessory dwelling units  in a neighborhood near UNC-Asheville sparked a lively discussion. You are always welcome to join the conversation. For more about creative retirement  and/or your plans for aging-in a feathered nest...a self-guided learning tour can be your quick start to worthy plans (see below)...

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True Guide to AGING IN PALACE eBooklet Becomes Amazon Best Seller

 
Your Home for Today and Tomorrow- Smart UP-Fitting
GO HERE - for Tips & Talking Points.
 Home Decorating, New Space Design

 

Aging in PaLACE eBooklet

 

"Helpful starting points for talking about and designing
a functional and BEAUTIFUL lifelong home."

 

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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Comments

janeAnne, That sounds like a conversation I wish I could have been a part of.

How many "retiring" baby boomers want to be landlords? It seems that would put a cramp in their style, not to mentiopn the problems of being so close to your tenants.

As for land cost, yes 15-20% is a much better number.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) almost 3 years ago

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