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How Much Are Lots at Grand Vista Subdivision in Murphy North Carolina Worth Today? - Part 2 Grand Vista Market Report
   
Now that Grand Vista Subdivision has been abandoned by the developers, lot owners in the Murphy, North Carolina mountain community are asking themselves "How much is that lot I bought worth today?"
The answer is "Not much, if you HAVE to sell it now."
There are 85 lots in Phase 1 of Grand Vista.  All of them were under contract within a few months after the subdivision began taking lot reservations in the summer of 2006.  Lot prices ranged from $45,000 for a lot near the clubhouse to $130,000 for lots at the top of the mountain with stunning long range views.  With a tempting list of amenities including the community pool with a rock waterfall, tennis courts, horse stables and clubhouse offering a two bedroom apartment available to lot owners visiting their property, many buyers purchased more than one lot.  
Some Florida buyers I worked with had seen huge increases in the value of vacant lots back home and thought the home sites, most of which were priced at $50,000, were an affordable investment, certain to at least double in value.  
I sold property there to several buyers who planned to flip a lot or two and use the profits to ... more

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