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Western North Carolina The Mountain Region including Asheville
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Old 07-22-2023, 12:51 PM
 
61 posts, read 37,756 times
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Hi, feel free to post anything real estate related in this thread.

My husband and I are hoping to buy in WNC next year so have been keeping a close eye on the MLS. I'll start with a question that's been bugging me -

WHY do you think this one is not selling?? It's been on the market for over a year: https://www.realtor.com/realestatean...9_M55733-57258
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Old 07-22-2023, 02:28 PM
 
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I'll hazard a couple of guesses. First, get familiar with either the terrain option on google maps or use the county GIS and learn about the contours of the land with anything you are looking at.





Looking at the listing pics there's a good chance there are moisture issues or at least runoff issues based on the way the house is sited - the hill above it will drain right to the house and we do get substantial rain here. There is no flat land around the house which may not be an issue for you but it can be difficult to navigate and makes exterior home repair more challenging and expensive. The entry to the property leads you facing into the garage, not the nicest view - however it's a very common house feature here due to topography. That is totally personal preference and may not bother you a bit - I passed on any house that was sited like that because it is a big deal to me. I also don't want to be hiking up those stairs to the front door and it may be limiting to some guests. Laurel Park is a nice place to live, nice neighborhoods but you will be stuck any time it snows or ices. There are only 2 ways in and out of Laurel Park and will require traveling lots of icy hills and windy roads - and that's if you can even make it out of your driveway! Most people who live there wait it out till it's safe. House looks clean and tidy which is a plus. It's a very wooded lot close in to the house - lots of privacy. Also makes for a dark house combined with deep overhangs, porches and small windows. If a house has been on the market for a year with no offers/contract then it's overpriced. If there have been offers that have fallen through you have to ask why. Has it failed inspection?
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Old 07-22-2023, 02:54 PM
 
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My first thought is maybe they’ve had offers, and there were issues during inspection. Many houses here (likely the majority located downhill) have moisture issues in the crawlspace and/or basement. This can be mitigated with a good crawlspace guy. It can be worked into the contract, but you need a good builder to assess. The property history doesn’t show when the current owners purchased the property. I would be curious how long they’ve owned the house. It’s in a very good area. Laurel Park is highly desirable; houses there move fast. It should have sold way before now. I don’t think price is an issue, although it’s likely priced near the top of its range. I also dont think where/how the home is situated is the issue. I’m amazed at where they build houses here. It only has 2 bedrooms which could be an issue, for this price. I will drive by tomorrow and let you know more; it is located fairly close to us.

Last edited by Lizap; 07-22-2023 at 03:07 PM..
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Old 07-23-2023, 04:26 PM
 
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Quote:
Originally Posted by Bryophyta View Post
Hi, feel free to post anything real estate related in this thread.

My husband and I are hoping to buy in WNC next year so have been keeping a close eye on the MLS. I'll start with a question that's been bugging me -

WHY do you think this one is not selling?? It's been on the market for over a year: https://www.realtor.com/realestatean...9_M55733-57258
OK, drove by this house earlier today. It is in a desirable area close to Jump Off Rock with nice homes near it. My guess as to why it hasn't sold:

1. Only 2 bedrooms
2. Driveway is steep and sloped, making it challenging
3. Steep stairs to front door
4. Likely richly priced

Also, looked up the tax records. The assessed value is more than half under the asking price..

Last edited by Lizap; 07-23-2023 at 05:28 PM..
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Old 07-24-2023, 04:29 AM
 
Location: NC
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Lizap did a drive-by, so gotta trust her judgement, but to me from afar the two biggest things going against this house would be the 2 Bedrooms and the high price.
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Old 07-24-2023, 04:42 AM
 
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Is it near a trailer park?

Last edited by Lizap; 07-24-2023 at 07:40 AM..
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Old 07-24-2023, 06:16 AM
 
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My thoughts:

1. The second bathroom is in the basement, along with what is essentially a third bedroom. The second bedroom upstairs doesn't have direct access to a bathroom.
2. The house needs extensive updating...floors. kitchen, etc.
3. The current furniture placement is so strange that people have trouble imagining how to decorate it.
4. Given that, its overpriced.
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Old 07-24-2023, 07:42 AM
 
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It is not close to a trailer park.
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Old 07-24-2023, 10:45 AM
 
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Really interesting comments everyone, thank you!

Can I please get your input regarding the condition of this one (the listing says it just needs a little TLC but in your opinion do the issues go way beyond that?)
https://www.realtor.com/realestatean...2_M51206-02468
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Old 07-24-2023, 12:02 PM
 
6,626 posts, read 4,289,861 times
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Quote:
Originally Posted by Bryophyta View Post
Really interesting comments everyone, thank you!

Can I please get your input regarding the condition of this one (the listing says it just needs a little TLC but in your opinion do the issues go way beyond that?)
https://www.realtor.com/realestatean...2_M51206-02468
Looks like it is not in good condition. Pretty sure it's in Connestee Falls development. We looked there - not a fan. There's a wide range of housing, some in major need of renovating. The entrance to CFs is about 15 min from downtown Brevard, and depending on where you are in the development, it could be another 10-15 min. The assessed value (for tax purposes) is substantially lower than the sales price. Would pass on this one..
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