Asheville, location and value? (Charlotte, Swannanoa: for sale, apartment complex, big house)

[Mozart271]

Just looking for input. We own a 14-acre property in Burnsville, but have decided to consider a smaller lot (2 to 5 acres, depending on which one) in Asheville. Our decision came out of a realization that we do not want to put in the infrastructure on the acreage, and we like a little more cosmopolitan community closer by.

We are looking (to retire and build a modest house) at a lot in an established low-density neighborhood (not subdivision) with preserved trees. Close to the Parkway and Town Mountain Rd. Nice views, has good road, water, utilites, etc, looks like a wonderful location. Asking price is $75 to 80K per acre! Any advice?

[gigimac]

Dear Mozart,
I live in Asheville. If you're trying to live near Town Mountain, probably you should look at the north or east side of Asheville. If if you want road, water and utilities, then probably look within the city limits. What this amounts to is buying a city lot of a quarter-acre from $50,000 to $100,000 maybe more, and an acre would be $150,000 on up.

So, looking at the north side, there is an interesting regular neighborhood that has a few quarter-acre lots that you might want to consider. I know you want more, but that is costly and even scarce. Anyhow, I'm sure you know where Beaver Lake is. Well, exactly south, up on the wooded hillside and in the shade are scattered homes and some small parcels. It doesn't have sidewalks like the big houses on the lake, and the road is winding and steep, but it has water and utilities, and even tho you can't quite see the lake, you can get to it on foot if you're in good shape You could drive around up in there and see what you think.

I've driven everywhere around the lake, I kind of prefer even more south on the other side of that hill because it has a view of the city, but I don't know if there's any land or lots for sale on that side or not, and they'd probably be more expensive. But to be able to live anywhere near Beaver Lake is an advantage as an investment, plus you can visit the lake, and you're also close to movies, grocery, and downtown. You can get to Town Mountain by just cutting over thru a few neighborhoods to Charlotte Street, which is a block from the entry to Town Mt. You might also think about any lots that come up in the outer Montford area, also north but not near the lake, and a little farther from Town Mt.

Sometimes up on Town Mt. on one of the roads off it, both near the bottom and at the very top where it joins into the Parkway, there's sometimes an acre-plus or more, in the range I mentioned earlier of $150,000-per and way up, so you could have a realtor let you know what's up there right now, too, and balance that against your finances.

Oh, and the east area I brought up earlier, that would be just east of Town Mountain, an area called Chunns Cove, and a little further east and some freeway is Haw Creek, could be there's something for you to look at, in the same price ranges, but the water and utilities might not be available, becuz they're outside city limits. Also, there are "developments" in those areas, which you didn't want, but further out it's country. Beaucatcher Mountain is the southern half of Town Mountain (I240 cuts thru), I don't know what all is up there.

Hope this gets you going.

[Asheville Native]

Originally Posted by gigimac

Oh, and the east area I brought up earlier, that would be just east of Town Mountain, an area called Chunns Cove, and a little further east and some freeway is Haw Creek, could be there's something for you to look at, in the same price ranges, but the water and utilities might not be available, becuz they're outside city limits. Also, there are "developments" in those areas, which you didn't want, but further out it's country. Beaucatcher Mountain is the southern half of Town Mountain (I240 cuts thru), I don't know what all is up there.

Bad info

Chunns Cove is mostly "in the city" with all the utilities, water, sewer.
Haw Creek is 99% "in the city" with all the utilities, water sewer
Many areas "outside the city" also have all the utilities, water, sewer.

[gigimac]

Dear Native,
About Chunns Cove being in the city limits, then how come the city limit sign is right where you go under the freeway and enter Chunns Cove? And I'm sorry, I stand corrected on most of Haw Creek, I was trying to get everything in a word flow and goofed. As for areas outside city limits near Town Mt that I failed to bring up, that have all utilities, etc., plez tell Mozart about those.

[Asheville Native]

Originally Posted by gigimac

Dear Native,
About Chunns Cove being in the city limits, then how come the city limit sign is right where you go under the freeway and enter Chunns Cove?

Cause the area right there and up Piney Mtn Rd is not city, but the citiy limits extend out Chunns Cove Rd all the way to Utopia Rd, taking in the big apartment complex out there. (The city is very selective in their annexation, taking in only the high density (read profitable) areas) The large parcels of land on the left as you drive out Chunns Cove Rd are not in the city (not profitable to annex)

Originally Posted by gigimac

As for areas outside city limits near Town Mt that I failed to bring up, that have all utilities, etc., plez tell Mozart about those.

Beaverdam, Riceville.
Since our water source is east of Asheville, all areas east of Asheville have water, and as I stated many areas outside the city have city water, Reynolds, Fairview, Swannanoa

[Mozart271]

Hey, thanks so much, guys! We plan to go look at some lots soon near Town Mountain and the Parkway--one specific property intrigues me that totals about 5 acres, and averages out to about $75K per acre. We have to walk the property, but it should have potential great views with a few trees selectively cleared (we are tree-lovers!). It is not cleared for a house, but does have the utilities, I believe. I do know Beaver Lake (beautiful).

I have checked the web of course, and there are some pricey properties in this area. If you are on target, gigimac, it sounds like $75K/ acre maybe not such a bad asking price!

Anyone have any negatives about this area?

Thanks!