Info needed for Alpine Creek in Banner Elk (Charlotte, Cornelius: ski resorts, sale)

[jorjust]

I'm thinking about purchasing land in Alpine Creek in Banner Elk. Does anyone have information about this area?

[roadpony]

I've never heard of it, and I've lived in and/or owned a home in Avery/Watauga Counties for over 20 years. When I googled "Alpine Creek" I found a web site for one of those ubiquitous "anonymous" developers who hawk "LIQUIDATION SALE - SAVINGS ON SPECTACULAR MOUNTAIN ESTATES!" All of the photos are stock photos, not of the actual property. Nowhere on the web site do they say where this property is actually located. Run away as fast as you can.

I would never buy from a developer who did not have a LOCAL, solid track record. This developer has a Cornelius, NC address (near Lake Norman & Charlotte). If you really want to pursue this, check them out with the BBB and do other due diligence.

[jorjust]

Thanks for your reply. I am looking to purchase 10 acres to build a vacation home for myself, my husband and my two boys. I will spend summers there also. I don't want to be near the ski resorts because I think the area would be too cold. Any suggestions on good locations? What is an approximate cost per acre for land in the mountains of NC?

[lovesMountains]

Originally Posted by jorjust

Thanks for your reply. I am looking to purchase 10 acres to build a vacation home for myself, my husband and my two boys. I will spend summers there also. I don't want to be near the ski resorts because I think the area would be too cold. Any suggestions on good locations? What is an approximate cost per acre for land in the mountains of NC?

Raw land will be cheapest, but be careful because then you have the sometimes huge expense of digging for a well, adding utilities and septic and building your own road in.

Improved lots can vary in price range depending on location, but expect to pay at least $30,000 and acre from what I know.

I'll send you a few links to places I know of

[PeteElmer]

I would like to comment on a few hasty remarks left on this thread. Waterfront Group, the Developer of Alpine Creek, and my employer, is not the fly-by-night type company Roadpony suggests. While I certainly understand their concerns, we are a legitimate real estate development company who has been in business since 1994 and a member of the BBB. Alpine Creek is an absolutely beautiful tract of land with long range mountain views, rushing streams, complete with new roads and utilities. I understand the "Liquidation Sale" may be an over used term, but consider this currently available 10+ acre tract for example:
Original Contract Price: $169,900 - 2008 Avery County Tax Value $187,600 - Sale Price $99,900. I would certainly consider that a liquidation price. Where else in Banner Elk area are you going to find that much land, with roads and utilities, for under $100k?

Unfortunately, many smaller, upstart, and no-name developers can ruin it for all of us. For the last 14 years, we have worked dilligently building the best reputation in the business. As our competitors failed one after the other this year, Waterfront Group remains strong and comitted to purchasing, developing, and selling the best mountain property the market has to offer. If you have not already purchased your mountain land, and would like to discuss this or any of our properties, please feel free to email me directly at Pelmer@waterfrontgrp.com

[castufari]

Originally Posted by jorjust

Thanks for your reply. I am looking to purchase 10 acres to build a vacation home for myself, my husband and my two boys. I will spend summers there also. I don't want to be near the ski resorts because I think the area would be too cold. Any suggestions on good locations? What is an approximate cost per acre for land in the mountains of NC?

Summers won't be too bad there. Winter could be regardless of where you are - close or far away from the resorts.

You could make some trips and look at the land then inquire about getting utilities, etc done. I have a friend who purchased land to build on, he was looking at 50k just to get power run to the property. There are plenty of questions to ask, such as water, access/roads, etc.

[NCBND]

If you are 5 - 10 years away from making a move to western NC then buying raw land is a pretty good strategy for establishing a placeholder down (or up) there. I've stayed away from developments because (1) the lots are more expensive (2) there are POA fees that increase monthly carrying costs (3) the amenities in the development may or may not be worth that fee (4) your taxes will be lower (5) I could care less about the snob appeal of living in certain developments being peddled to that element and (6) if the developer hasn't finished the infrastructure in the development then in this day and age you bear the risk that they never will. The last one is a nuclear meltdown - ask the poor souls who bought lots that they will never be able to sell in a bankrupt development.

Finding and buying a nice piece of raw land is like getting your dream retirement place on the installment program. You can have fun searching out just the right piece of land and then subscribe to all of the house magazines to look for ideas to clip out. In the mean time you do have your capital tied up but your carrying costs and maintenance headaches will be much lower than if you had bought a house. And you can go stand on it and visit it, unlike the dreary stocks and bonds dwindling away in your IRA.

There are lots of opportunities in today's depressed real estate market so I'd counsel patience. Look at lots of different properties, be very picky and take time to ask lots of questions. If the seller won't answer them or if they think that you are a PITA then run away.

[roadpony]

I make no apologies for my comments above. I am not being critical of the developer in question. I have no knowledge of them, good or bad. When any developer has on their web site - NO photos, NO plats, NO directions to the specific property being marketed - it raises a red flag in my mind. I'm wary of developers who won't tell you where their property is located unless you call them first.

This could be the finest real estate developer in NC, but I don't have to like their marketing strategy.

As I suggested before, one should be careful and do your due diligence.