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I first moved to Asheville back in 1983, found an apartment and immediately began looking for my personal 30 acres with
a mountain-top location in which to build a cabin. Back then, you could find this at a reasonable price and as a successful investment advisor, I was soon on my way to my life's dream. My wife loved the idea until we started building and she became familiar with the area. It was wild, beautiful, remote and wonderful and I finally finished the cabin and the 3/10 of a mile driveway which climbed straight up over 300 feet in elevation. Still, I knew her views on rural mountain living had changed when she began humming "Dueling Banjos" from the movie Deliverance every time we drove up the jeep road to check out the construction progress.
My property was in a very rural area west of Asheville and although I grew up on a tobacco farm in Eastern North Carolina it soon became apparent that even this I didn't really fit into the dirt road and jeep trail lifestyle way back in our rural mountains. Of course, given the earlier Deliverance situation my wife had left me during the interim saying no one in their right mind would live this far out after a sudden thunderstorm and flash flood had washed down my $8,000 of gravel in (1980's dollars) the day after it was spread on the driveway. Also the bear and cougar tracks behind our house didn't help matters.
Finally after a few years, it suddenly dawned on me that I didn't own my 30 acre top of the mountain farm but rather it owned me. It seemed that every free moment was spent fighting briars, undergrowth etc. and every extra dollar went into upkeep, the never ending road maintenance as well as automobile repairs.
Tami and I were married by then and she never complained about the road or isolation but we were really behind on the road upkeep and when she began to get the jeep stuck in the ruts "going down the mountain" I knew something had to change. The jeep did fine otherwise but the trail tore a hole in the oil pan on the BMW blowing up the engine. The adjuster said he had never in his life seen a BMW with so many dents in the oil pan from rocks and boulders. Also, we traveled a lot internationally and my neighbors helped to watch over my property when I was away but the 99% who helped was offset more than once by the 1% of teenagers who viewed my vacant property as prime pickings for petty theft and vandalism.
Eventually I surrendered to the forces of nature and rural living and the need for good schools and a quicker drive to Asheville than the hour long jeep trail, private road, dirt road and narrow two lane road into West Asheville, I purchased a great house on the south side of town in High Vista Country Club right on the golf course in a private gated community. It was convenient, the schools were OK although we ended up sending our children to a private school and the long distance views of the mountains, the pond in front of the house were great, - for a while.
I discovered the Asheville suburbs were like suburban communities all across the United States except that we had better long-distance views but over time I realized I didn't live in the mountains or really have the opportunity to enjoy the exciting climate and high mountain lifestyle available above my valley location. But rather I looked out on the snow caped peaks in the winter, while we mostly suffered through rain or cloud cover. In the summer, we still had to run the air conditioner like the other suburbs in Charlotte, Atlanta, Jacksonville etc. although during the evening the temperature were quite pleasant compared to the other deep South locations. I had the convenience of being near to the high mountains but certainly not there. Take away the views and I could be in any Southern city.
In fact, stuck in the South Ashville traffic jams going to and from work around the intersection of I-240 and I-26, (now called malfunction junction) I would enjoy the beautiful mountain views but not the lifestyle. I often felt like the Soviet dissident Aleksandra Solzhenitsyn when he wrote about the single barbed wire fence separating the men's and women's prison camps in "The Gulag Archipelago". The closeness made the separation far more difficult than if I had been living in the suburbs outside the North Carolina mountains.
I kept saying to myself there has to be a reasonable choice between the Asheville suburbs and way out in the middle of nowhere when living and working in our mountains. Over time I found a place that met all of my criteria for a permanent residence and this might be the right compromise for you. The solution for me was Wolf Laurel Resort.
My Criteria:
No Suburban Sprawl - I wanted to be out of the crowded suburban sprawl where every house and yard looked like the one next door.
The Best of Both Worlds - I appreciate friends with conservative, traditional views but on occasion I really enjoy heading into town for some fun and to enjoy the interesting entertainment and great restaurants of downtown Asheville. Here at Wolf Laurel, the city is just a short freeway drive down the new I-26 interstate highway and 35 minutes away from our high mountains. The section of I-26 near Wolf Laurel is the highest elevation interstate highway east of the Rocky Mountains. Click here to learn more about building the highway on the ridges of our high mountains.
Private Long-Distance Mountain-Top Views - I wanted to be on a mountaintop but without the problems of property and road upkeep that had so drained my free time and income with my 30 acres.
Cool Summers - I needed a cool New England style climate in the summer where air conditioning was unnecessary and outside sports and activities were pleasant and cool.
Access To Winter Sports - In the winter, my family loves winter sports and we wanted the opportunity to ski, sled and enjoy the snow and high mountain lifestyle we had experience when living overseas in the Alps.
Low Relative Real Estate Prices - We didn't want European or Vail, Aspen, Whistler real estate prices and property taxes that can take such a bite out of a budget. Property taxes here in Madison and Yancey county are low and very reasonable.
Diversification Protection From A Possible Real Estate Bubble - As you know, much of Florida, the Rocky Mountain resort communities and coastal developments have had exploding real estate values for years. On the other hand, here at Wolf Laurel prices were quite stable for years until 2003 when the new interstate highway opened. Of course now, interest in the resort area is booming as many Floridians and others do take profits in relatively high priced markets and diversify into others like here which are just starting to boom.
I believe geographical diversification of real estate holdings is just as important as investment diversification. As a former financial advisor and economist, experience has taught me that nothing goes straight-up for ever in value. It is prudent from time-to-time to take profits off the table on major investments that have out-performed others and reinvest where the appreciation potential is just starting.
Is the big crash coming?
Economist warns to brace for serious downturn
I believe prudent real estate investors should follow the example of successful stock market investors and take profits and
diversify your real estate investments. Geographical diversification can be an important tool for maximizing return and limiting risk. In 1999, at near the top of the dollar and the stock market technology and dot.com bubble mania I recommended in a special report, "Get Ready for the Greenspan Crash" to diversity out of the overheated US stock market and the dollar. See World Net Daily's "Is the Big Crash Coming? Economist warns to brace for serious downturn" So I may know what I'm talking about here and if you were in the market, you well remember the market crash that followed.
Big City Culture, Shopping, Restaurants and Nightlife - We wanted to have the benefit and convenience of downtown living and fun without the cookie-cutter suburbs, crime, stress and traffic that comes with the lifestyle.
A Gated Community - I have learned that although we are a low crime area when compared to the violence and theft prone cities and suburbs, I still sleep better at night and at home and enjoy my travels far better knowing my location is protected by 24 hour gated security.
Property Appreciation Potential - Although most property values in western North Carolina are certainly rising due to increased demand and interest in the Asheville area, our Wolf Laurel real estate potential has more to offer than just Asheville. The convenience of the resort area and interstate highway access to our four-season resort experience is now turning a sleepy out-of-the-way summer mountain development into prime property for development, second homes all the while within easy commuting distance to Asheville and Johnson City, TN.
In conclusion, if you want to live in the valley and look up at the beautiful long-distance views of our rugged mountains, cool temperatures and high mountain experience then live near Asheville. But if you want to live or enjoy your vacation home in the mountains and surround yourself by the complete four-season mountain experience and lifestyle then live on top above it all in a mountain-top location like Wolf Laurel Resort. Here you have convenience, friends and neighbors that share your interests and lifestyle and you're just a short walk or drive to the country club, village amenities or ski resort.
Thanks for reading.
Ronald Holland
