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Johnson City, TN is about 1hr & 15min from Asheville and home prices are on the average of about 60% of those in Asheville.
Very true. East Tennessee prices are more reasonable than those in western North Carolina. However, I would advise anyone who wants to take advantage of those lower prices to act quickly because it won't last forever. The exodus from Florida continues, the eastern half of Tennessee is the new North Carolina for Floridians, and the stampede is on. There is a developer who does infomercials on South Florida TV stations for a development on the Cumberland Plateau, and the lots are selling like crazy at $30,000-$40,000 an acre. It's an hour away from the nearest good-sized town, has more intense summer heat than the mountain areas and doesn't offer the types of views you find farther east. If Floridians are paying that much for this sort of land, just imagine what property in the shadow of the mountains will be fetching sooner rather than later.
We have one big question and we hope that no one is offended but...why is there such a disparity of home pride and maintenance even within very desirable areas? We're not talking new developments of course but those quaint established neighborhoods that are in abundance. Why are there 4 good-looking homes in a row and then one which is falling apart with a refrigerator on the front porch and a car engine in the front yard? Given that most of the homes are nice, this would make us absolutely not buy in that area. Why don't people tear down their 100 yr old sheds and out-buildings? These are eyesores that would never be accepted in a middle class neighborhood like ours.
I actually live in an area like what you are talking about near downtown Asheville (Montford). The primary reason why this disparity exists is who owns the house, and how long they have owned it. The quaint neighborhoods are still very transitional in Asheville - keep in mind that 10 years ago, not many people thought of Asheville as the hot place to live. A good percentage of the houses in these neighborhoods are still owned by lower-income families that moved here 10, 20, 50 years ago. Some of these people have obviously sold recently to higher-income buyers, and that typically spurs renovation on the house. This unfortunately traps a lot of these lower-income families. If they have a job in Asheville that they want to keep, they really don't have an option for selling and moving somewhere else in town. They obviously end up staying and using their limited income for things other than house maintenance. What makes it worse is that their extended families end up moving in with them because they can no longer afford to buy/rent in town. You'll often notice that these unrenovated fixer-uppers in Montford also have a LOT of cars in front of them. Kids and grandkids living with you in your 2-bedroom bungalow will do that.
If you want a real eye-opener, visit the Buncombe County Tax website and do some research on specific addresses around town. You can see what people have paid over the course of the last 20 years or so for a particular house. I have been told anecdotally of houses that are currently worth $750,000 to $1,000,000 that were trading hands back in the 1980's for $50,000.
10 years from now, most of these houses will most likely be renovated, and I am not necessarily saying that is a good thing. The lower and middle class families will most likely be forced to sell, and the retired Floridians and New Yorkers will be more than happy to buy them. Our recent property re-evaluation in town will make the taxes on these places too much to bear for some of these families. They will have to move because there is no other option.
NJBites probably won't be comfortable in the mountains because of the unbearable sights, and the natives and locals are not accepting of transplants who want to change everything to suit their idea of a neighborhood. I am only trying to be honest. What people consider trash, is everywhere. Some "trash" is very historic and should be appreciated. Mountains folks' vocabulary does not recognize "tear-down", and they don't want homes and historic buildings torn down to make way for new. They like it just the way it is, with historic improvements only.
There are many posts on these forums about this exact subject. I would suggest a search to truly see the reasons for this.
One of the reasons you see what you see is: no zoning in Buncombe County, and in most Counties.
You can drive around and see what you consider "trash" all over the place here.
If you think these areas are trashy, then the more rural areas in NJ would be more suitable, or the open farmland of the mid-west.
With regard to the unemployment situation in the Asheville/Hendersonville area I want to add to the warning. Hendersonville is my home, my family has been there for generations, even is listed in the " History of Henderson County" in the County Library. My husband and I were forced to leave the area in 1999 when Cranston Print Works folded and went to Mexico. My son who was with GE got "Downsized" and I from Steelcase. If you want to wait tables or have the money to invest in a "gift shop" you'll be ok. If you want to earn a living and raise a family; I'd think twice.
Certs Inc.
Addresses 424 E Central Blvd #413, Orlando, FL 32801, Orange County
Upkeep of the neighborhood seems to rest with the individual homeowner vs region. I moved to Los Alamos, New Mexico from central Illinois about 20 years ago and was appauled at the mix of housing in a high income location.
A $500,000 house may be adjacent to a a run down modular home with two new cars in the driveway. What ever hapened to the moto of don't over or under build in a neighbor hood.
Having lived in the midwest where grass grew without coaxing to cover up lots of junk in rural areas vs. sand, dirt and weeds, I found the area of Northern , NM pretty trashy looking. Zoning and covenants may drive housing prices up, however they also help to maintain property values.
Lack of ownership pride is not limoited to the Southeast.
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Pride of Ownership
