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Western North Carolina The Mountain Region including Asheville
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Old 05-16-2008, 09:46 AM
 
83 posts, read 509,184 times
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Hello, I was on vacation 2 years ago in Western North Carolina when they were having the Dream Home giveaway from HGTV. I had read where the winner sold the home back to the developer. Does anyone know if you can rent the home for the summer months for vacation? Lake Lure and Chimney Rock are dream areas to live! My family and I can not wait to visit again! Thanks for your help if you have an answer!
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Old 05-16-2008, 10:20 AM
 
Location: Blue Ridge Mtns of NC
5,660 posts, read 18,324,710 times
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Although I live in the area, I'm not sure what the status of the 2006 HGTV Dream Home is now. It seems to me, the winner could not afford the tax and maintenance on it. For a while, visitors could tour it for $20. If we had an actual street address, we could check the current public property record.

Contact the developer, Grey Rock at Lake Lure for current status of the home.

http://i217.photobucket.com/albums/cc107/mm34b/2006HGTVHome.jpg (broken link)

Last edited by mm34b; 05-16-2008 at 10:48 AM..
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Old 05-16-2008, 11:17 AM
 
Location: "The Gorge"
895 posts, read 2,181,612 times
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I live in the area also. The developer did buy the dream house. They have used it for sales events and charity functions. I heard they offered a weekend at the dream home at a charity auction.

Here is a link to their web site:

Grey Rock (broken link)

Give them a ring and see if it is available for rent. If so you can invite all your city-data friends to come over for dinner!!! : )
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Old 05-16-2008, 11:27 AM
 
Location: Asheville, NC
187 posts, read 670,553 times
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Quote:
Originally Posted by mm34b View Post
Although I live in the area, I'm not sure what the status of the 2006 HGTV Dream Home is now. It seems to me, the winner could not afford the tax and maintenance on it. For a while, visitors could tour it for $20. If we had an actual street address, we could check the current public property record.

Contact the developer, Grey Rock at Lake Lure for current status of the home.
If you watched the official HGTV giveaway, it was actually pretty hilarious. I actually toured the house - very pretty, but it had multiple levels and I even remember thnking to myself that it would be a tough house to live in if you were handicapped. Well, the guy that won it was a paraplegic. Even if he could afford the taxes on the house, it certainly wasn't very ADA-compliant.

Adding insult to injury, the whole development was plagued with a lot of environmental fines due to erosion and site runoff issues. The county actually went so far as to not allow any more road construction until the runoff situation was fixed. To be honest, I still don't know if they have resolved it. As of a few months ago, the HGTV Dream House was still the only house in the entire development. People who bought lots on spec are now trying to sell them at a loss to get out of the development. You periodically see them on the Asheville Craigslist.

Sometimes bad things happen to bad developers...
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Old 05-16-2008, 12:34 PM
 
16,310 posts, read 14,774,445 times
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Quote:
Originally Posted by vandemusser View Post

Adding insult to injury, the whole development was plagued with a lot of environmental fines due to erosion and site runoff issues. The county actually went so far as to not allow any more road construction until the runoff situation was fixed. To be honest, I still don't know if they have resolved it. As of a few months ago, the HGTV Dream House was still the only house in the entire development. People who bought lots on spec are now trying to sell them at a loss to get out of the development. You periodically see them on the Asheville Craigslist.

Sometimes bad things happen to bad developers...
This is a problem for ALL mountain side/top developments, at least Rutherford County had the courage to put their foot down and not roll over to the pressure from developers, which is the typical response of city and county leaders in WNC.

There WILL be runoff and erosion when the natural forest on a mountain side is destroyed, and there is not a developer in business that can prevent it though most will deny it is a problem, but that would be because they don't live with a backyard full of mud at the base of the slope.

This area was settled in the valleys, cause the people that settled here had an uncommon trait seldom seen today, common sense.
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Old 05-18-2008, 12:44 AM
 
162 posts, read 397,131 times
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Quote:
Originally Posted by mm34b View Post
AFor a while, visitors could tour it for $20.
$20?? Just to tour the place??
I recently visited a Southern Living magazine showplace home for $5. Part of that $5 went to a decent charity, and I got a mint julep, canvas tote bag, and tons of southern hospitality.
For $20, I'd expect all that and a roller-coaster.
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Old 05-18-2008, 01:34 AM
 
Location: Southern California
395 posts, read 775,451 times
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I wish HGTV wouldn't equate "dream" with "huge". How is the average person who enters the sweepstakes supposed to be able to pay the taxes and maintenance on those big houses? It's interesting to see what happened to the house after it was won. Thanks for the update.
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Old 05-19-2008, 09:39 AM
 
83 posts, read 509,184 times
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Default Thanks for HGTV home update!

Thanks for the information about the HGTV dream Home. Very interesting information about the developer.
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Old 05-19-2008, 04:01 PM
 
62 posts, read 195,531 times
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As far as I know the Dream Home is only available to Grey-Rock property owners. They have had challanges associated with building the roads but I believe they are now on the right track (check out the Community News section at Grey Rock (broken link)) I was up there a few weeks ago and there are 2 homes currently under construction.
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Old 07-24-2008, 03:36 PM
 
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Default Grey Rock is Closed Indefinitely

It has been more than three years since Land Resource, LLC began selling land in Grey Rock, the company's Western North Carolina mountain slope development. Grey Rock at Lake Lure received national publicity through the 2006 HGTV home giveaway promotion. Today the Dream Home is the only structure completed on the 3,917 acre site although more than 400 lots have been sold. Grey Rock lots were priced from $200-700 thousand.

John Boyle reported in his July 11, 2008 Asheville Citizen-Times article “Dream Home developer closes” that the Grey Rock operation has been closed indefinitely. Mike Flaskey, chief executive officer for Land Resource, LLC stated in the interview with Mr. Boyle that the company had “well in excess of $50 million” invested in Grey Rock alone, and would reopen sales when the economy picks back up. “We’ve been left with no choice but to shut down several of our communities. We’ve shut down five of our communities including two in Western North Carolina.”

Location and History of Grey Rock

Grey Rock at Lake Lure is located in the mountainous region of Rutherford County. This area shares the same geologic hazards as the rest of Western North Carolina. The North Carolina Geological Survey has reported landslides in the county and the 1997 Rutherford County Soil Survey determined that the soil composition on the majority of the mountain slopes was “unsuitable” or “poorly suited” for urban development.

Land Resource, LLC hosted Grey Rock’s grand opening on April 28, 2005. On September 21, 2005 the North Carolina Department of Environment and Natural Resources found that the developer had repeatedly violated erosion control regulations. The state halted all construction from September 21, 2005 through February 16, 2006 and fined the company approximately $94,000.

On June 29, 2008, the Asheville Citizen-Times advised that a lawsuit had been filed against Land Resource, LLC. The plaintiffs, a group of 15 property owners, claim that streams on their property were damaged by Grey Rock construction practices. For additional information please refer to Nanci Bompey’s article “Grey Rock developers sued over runoff.”

Land Resource, LLC

Land Resource, LLC, currently headquartered in Orlando, Florida was founded by J. Robert Ward in 1997. The company was based in Atlanta until mid 2007. Land Resource LLC is a privately held company so most assets and liabilities are hidden. On August 2, 2007 the Orlando Business Journal reported that Land Resource, LLC obtained a $60 million revolving line of credit from KeyBank Real Estate Capital and Wachovia.

The Land Resource, LLC Fact Sheet states that the company has 19 projects developed or under development. Projects under development are:
Bridge Pointe at Jekyll Sound-Waverly, Georgia
Cumberland Harbour-St. Mary’s Georgia
The Docks at Caney Creek-Kingston, Tennessee
Grey Rock at Lake Lure-Lake Lure, North Carolina
Laird Pointe-Panama City Florida
Roaring River-Fayetteville, West Virginia
Still Water Coves-Lincolnton, Georgia
The Villages at Norris Lake-LaFollette, Tennessee
Wild Ridges-Marion, North Carolina
The websites for these projects are currently inoperable.

Grey Rock and the Interstate Land Sales Full Disclosure Act

Grey Rock, HUD subdivision Id:31163, lot sales are covered under the Interstate Land Sales Full Disclosure Act and all purchasers must receive a detailed Property Report prior to signing a contract. The Property Report must include known land risks. If Land Resource, LLC neglected to provide Property Reports as required by ILSA, purchasers have two years to seek rescission of their purchase contracts and three years to seek damages. For additional information concerning consumer rights and protections please contact the United States Department of Housing and Urban Development.
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