High-end homes, condos still selling in Asheville: The Cliffs at High Carolinas lot goes for $3 M

Jason Sandford November 30, 2008

Jason Sandford is a reporter, writer, blogger and photographer interested in all things Asheville.

Looks like one of the choicest lots at The Cliffs at High Carolinas, the new development being constructed on a mountain ridge between Swannanoa and Fairview, has been sold. This, as you know, will be Buncombe County’s biggest development ever and features a golf course designed by Tiger Woods.

Lot JH-12, known as “Jesses Hightop,” has been sold to Mark W. and Karen C. Morein for a cool $3 million, according to today’s newspaper.

Meantime, condo sales continue apace at the new 60 North Market condos, where construction is finishing up.

The Sally A. Jones 2007 Revocable Trust bought unit 315 for $592,000. Unit 412 sold to Robert E. Turvene and David S. Turvene for $478,000. Unit 312 went to Alan S. and Karen Berger for $471,500. And the Dr. Ralph A. Coffey Living Trust got unit 901 for $900,000.

The economy can’t be all bad, I suppose.

Jason Sandford

Jason Sandford is a reporter, writer, blogger and photographer interested in all things Asheville.

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2 Comments

applehead December 2, 2008

who can afford to buy a house here? The only people with money are "out of towners". There are no jobs that pay worth a damn. This is why everyone lives in single wide trailers.

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judgeyall November 30, 2008

Our real estate market is a complitcated hodgepodge of good and bad,

Looking for a home under 200K? you are in good shape. There are options that just werent there a few years ago. This will help strengthen the middle class in WNC. Rates are at 5.something shockily little percent, and new home buyers have options that werent there before. However investors are hurting if they had planned to sell right away or if they priced the home too high. Priced right (8% appriciation) then things are good. We got spoiled at 12-15% appriciation 🙂

Cookie cutters are most hurt. The demand for new construction, 4000sqft in Leicester is down. who would have thought? Unfinshed subdivisions are feeling the credit crunch, local builders unable to tap into their credit line.

home sales over 300K have seen a dramatic drop since last year. Retirees that dominated this price range can not sell in FL, NY, OH, AZ.

– this year only about 20 apx homes will close over one million, last year 48 sold.
This is causing a much needed price adjustment and a panic in homeowners trying to sell.

Now for the Cliffs- a market within itself. A class that is protected like no other. A 3 million dollar lot sale will not improve the value of the land outside of its world. I am thrilled though that it will help employ construction crews, engineers, plumbers, etc that are currently finding little work in the residential arena.

Good news about N. Market! My fear is empty units in building after building causing a depressing looking downtown. Hopefully new building will slow for a few years so we can absorb the supply.

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