Another message at this site looked at how to spot distortions that enhance international investments and compared international real estate in London, Ecuador and Naples Florida.
You do not have to go that far to spot contrasts that can enhance international investments and boost your wealth.
Our friend Trey Morrison, a
real estate broker has had readers ask him why investing
in the High Country is a good idea. He read an article
in USA Today about
how more and more homes were selling for over a million
dollars. Most of the homes (65%) were in California,
with Florida a distant second.
He decided to see
how many homes sold for that price here in the High Country
(Ashe, Avery and Watauga County North Carolina).
The answer was 23 .
Trey thinks that this
is a lot for this rural 3 county area. What’s more there are currently over 40 homes listed at over a million dollars in this area right now. The
range of all single family home sales for the same period
is between $22,500 and $2,250,000.
shows a number of things. First and foremost it shows
that some people are willing to pay a lot of money to live
in this area. That's
a testament to the beauty of the area.
Secondly, with the
range of home sales we see that there is money to be made
by investing here. The cost of the cheapest house
sold is exactly one 1/100 th that of the most expensive.
WOW! That is a real contrast. Now here is where things get interesting. One
would imagine that the cheapest house is a piece of junk
while the most expensive is a sprawling mansion but look
at these pictures…
The house above is in Ashe County (near where Merri and I live) and sold for $22,500
This house is in Blowing Rock and sold for $2,250.
THE TWO EXTREMES!! As Trey wrote, "Unbelievable! This
is a huge distortion. "
Trey explained that
the first house sold in Ashe County and the second in Blowing
Rock. One area is fashionable and the other is not.
But the beauty and utility of the land is identical.
Trey writes, "Some would say that Ashe county is better because there
is less congestion and things are more spread out, and
I am one of those. Blowing rock has the fancy restaurants which is great. When I need that kind of fix I have a place to go. Also Boone has Appalachian State University. This
brings all types of cultural events that those of us that
grew up in the cities need periodically."
There is another
big distortion we'll look at in our next message.
Learn more about value Ashe County GaryScott.com/lostprovince
Learn more about real estate distortions in Ecuador