where is land cheap (Raleigh, Asheville: transplants, sale, real estate)

[kelly237]

My husband and I are going to be empty nesters in a few years and want to
get the h*** out of Raleigh and find a quiet ,quaint mountain town and stretch our retirement dollars , We would like about 20 acres and a small house and live frugally with a few horses maybe. I want the best of both worlds ... rural but some shopping and eating options within 30 minutes.
Where should we start checking out?

[silverwing]

Originally Posted by kelly237

My husband and I are going to be empty nesters in a few years and want to
get the h*** out of Raleigh and find a quiet ,quaint mountain town and stretch our retirement dollars

Asheville? Do I hear ASHEVILLE? OK, who's going to suggest ASHEVILLE, or the close environs?

Have you checked the Tennessee forums? There are some nice places on the other side of the border, too. We did a fall tour of northeast Tennessee/southwest Virginia a couple of years ago. The Bristol area; it's surrounding mountains; has become a popular area for transplants. You don't have to live right in that area, either, to have access to its amenities. We camethisclose to buying property in a sweet little town in southwest Virginia: Damascus. A 30 minute drive would have taken us to Bristol. But with the economic conditions and who-knows-what will happen to our 401k-s, it's a good thing we held off. Once we retire, we'll see what the world looks like and decide. We'd still love to live there.

Check out other parts of Virginia .. like Floyd. It's within a 30-45 minute drive to Christiansburg/Blacksburg - both very neat places - and a bit farther to Roanoke.

Those "Best Places to Retire" magazines and websites gush over western NC; which is a great place, no doubts there; but don't narrow yourself to thinking that's the only place to retire. Get yourselves some maps and explore. Better yet, get some topographical maps and explore. I have sets of those for NC/VA/TN, also sets of state road maps that are in book form with more details. I tend to be out riding, think to myself "hmmm, wonder where that road goes?" and end up lost. It's a good way to find nifty back road stuff, though. You might end up coming across a fine little Shangri-la tucked back in the woods that has escaped the notice of people who are only looking at the most popular spots.

[cabinman]

Unless you are in a big hurry I'd wait and see what happens with the economy. There is an abundance of property available all over western NC. So far property values have held, but I'd wait to see what the next year brings. Many of the people looking to move to western NC are coming from places like Florida and New York. The ability for these folks to sell their property there may ultimately impact the market in NC. Right now you can't give away property in Florida.

One piece of property that I have had my eye on for about a year now just dropped over $15,000 in the last month. My realtor thinks they might entertain an even lower offer. I think we may see more, especially for people who are real estate speculators. People who bought up big chunks of land to divide in hopes of cashing in on the land rush. Some of these folks may begin to experience cash flow issues if the economy continues on this down cycle.

I have been looking hard at the whole region for a couple of years now and I see properties that have been on the market the entire time.
I'd take your time. Make a bunch of trips and really explore your options. You'll find something that works.

[silverwing]

Originally Posted by cabinman

Many of the people looking to move to western NC are coming from places like Florida and New York. The ability for these folks to sell their property there may ultimately impact the market in NC. Right now you can't give away property in Florida.

One piece of property that I have had my eye on for about a year now just dropped over $15,000 in the last month. My realtor thinks they might entertain an even lower offer. I think we may see more, especially for people who are real estate speculators.

It will be interesting to see what happens to the land from those who got their fingers burned. While looking at a lot near Fancy Gap, VA, we spoke to a realtor who said that investors from Florida had bought up whole sides of mountains, sight unseen. Same with speculators from the northeast. Will they dump the land to get a portion of their money back or hold on to it in hopes that the eventual return of a steady economy will bring back the flocks of buyers?

It will be better for the land, IMO, to see a rational view about development return. It's been a horror to see ridge lines cleared to build houses and sides of mountains denuded of trees so that people could have their view of other mountainsides - which would have eventually been stripped of trees as well. The most optimistic thought would be to see a fire sale of these swatches of land that would enable conservationists to buy up the most endangered areas to protect the land from future nonsense like this.

[Asheville Native]

Originally Posted by kelly237

My husband and I are going to be empty nesters in a few years and want to
get the h*** out of Raleigh and find a quiet ,quaint mountain town and stretch our retirement dollars , We would like about 20 acres and a small house and live frugally with a few horses maybe. I want the best of both worlds ... rural but some shopping and eating options within 30 minutes.
Where should we start checking out?

Think it is safe to say that cheap land that meets your needs has gone the way of cheap gasoline. I don't expect to see either again.

[cabinman]

"Cheap" is of course relative. Up here in the Tug Hill of NY you can still find land for $1,000 an acre, less if you buy large parcels. The problem is, you have to be willing to put up with 200"-300" of lake effect snow every winter, cold weather ( about 15 last night with a daytime high today of low to mid 30's) , high taxes and a depressed economy.

I couldn't agree more with both Silverwing and Asheville Native. Your comments are right on the money! I just think we are headed into what might be a real rough patch as a country. Americans have always been resilient. Let's see what lies ahead. The Bear-Stearns debacle was a little bit alarming. I will do my best to remain optimistic .