Post50 People, Investment Properties, Trends - Asheville-Style

Real Estate Broker/Owner with REAL ESTATE RESOURCES & NETWORK 209970

Asheville Real Estate Journal


Recently a number of Asheville  REALTORS ® got together to talk about a wide range of subjects: Trends, client investment strategies, land, conservation and issues that come up during "deal evaluation". And we stirred up quite a conversation on the potential impact of (un)retiring “boomers”  on the marketplace. Was this all part of the "use change" process? We could picture how this might look... .


Graphic of Asheville area neighborhood

Examples: A pocket neighborhood... or maybe small apartment building  converted for Aging-in-Placethat Golden Girls concept. How about that?!!  There might be some challenges, for sure-  a single electric meter and A/C units shared by several apartments. But the purchase price would leave room for universal design improvements. 
And, 1031 investors could be in it for a good number.

How about the notion of  a single family house on a large lot zoned for multiple units. Good potential?  We talked about the "value" of the "dirt." Even though the land could carry 10 units, the purchase price of $875,000.00 seemed too high. The average condo in that particular area sells for $275,000.00 to $300,000.00. It was determined that the cost of the dirt can't exceed 25% of the selling price of the finished product. Less would be better.

Finally, the idea of building a series of green accessory dwelling units  in a neighborhood near UNC-Asheville sparked a lively discussion. You are always welcome to join the conversation. For more about creative retirement  and/or your plans for aging-in a feathered nest...a self-guided learning tour can be your quick start to worthy plans (see below)...




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Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

janeAnne, That sounds like a conversation I wish I could have been a part of.

How many "retiring" baby boomers want to be landlords? It seems that would put a cramp in their style, not to mentiopn the problems of being so close to your tenants.

As for land cost, yes 15-20% is a much better number.

Bill Roberts

Dec 04, 2014 11:38 PM #1
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