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International real estate

Real Estate Investing Distortions Make Money

International real estate

By
Gary Scott

All we wanted to do was to get away. We were not looking for ways to make extra cash through real estate investing distortions. But despite this I can see the money starting to roll in once again.

We moved into Ashe County to get away from the crowds, hustle and bustle of life not to spot real estate investing distortions.

Making money in real estate investing distortions was far from our mind but now we can see that real estate prices here are about to explode. We have already made money again which seems to be the story of our life. We move to a beautiful, quiet place to get away from the crowds and then the crowds follow the real estate investing distortions.

Real Estate Investing DistortionsReal Estate Investing Distortions
Real Estate Investing DistortionsReal Estate Investing Distortions

http://www.main.nc.us/ashe/

Real Estate Investing Distortions Again and Again

This has not been all bad. We have literally made millions from moving into homes ahead of the crowd. For example when Merri first moved to Naples , Florida there was just one traffic light in the whole town and when I moved there a little later there was not a whole lot more. We had to drive nearly an hour to reach any major store (such as Sam's Wal mart or Office depot etc.) and our nearest international airport was two hours away. When we left, Naples was a booming cosmopolitan city with the wealthiest income per capita in the U.S. We made a fortune without trying and this was not our first such inadvertent success from real estate investing distortions.

So moving to Ashe county we hoped to escape the maddening crowd forever. No such luck! I can see the handwriting on the wall. Growth is coming to this area and no amount of wishing will stop it. The original plan was to keep this place a secret, but now that I see how growth will come I have decided it is better to let my readers know so we'll be sure to have neighbors who are like minded souls.

When Merri and I sold our last cabin in North Carolina (because we did not have enough land and the altitude was too low-summers too hot) the realtor told us we could never find another similar place. It was deep in the woods near a roaring creek and indescribably wild and beautiful, but I knew he was wrong. There had to be another such place, but higher, cooler when the lowlands were warm. I did not realize how nearly right he was as it took us six years of continuous search to find Merrily Farms and Ashe County. This county which adjoins Virginia and Tennessee was established and named after Samuel Ashe in 1799. It is often known as the Lost Province because until recently hardly anyone knew of the place.

Real Estate Investing Distortions Growth

The county seat is Jefferson and the county has a land area of 426.16 miles but only a population of 22,209 people. This population is wide spread as well. The only towns are Jefferson (1,300 population), West Jefferson (1,002) and Lansing (183).

This is a totally rural area with three commercial crops, Christmas trees, timber and tobacco. There are several factories in the county manufacturing furniture and electrical goods. There are numerous tourist activities such as canoeing on the new river, scenic drives though Southern Appalachian Wilderness, leaf looking and camping.

Ashe county is isolated but sits almost equidistant from the north and south of the east coast of the United States . The largest, wealthiest migration in mankind's history has taken place in the last decade into this area. Now one in six Americans live in a county that touches either the Atlantic or Gulf Coast . Merri and I are almost the same distance from our old home in Naples and Maine .

Here are the signs I see that suggest to me that this area will boom:

1. The prices here are a fraction of the county just south (Watauga)

2. The first cappuccino machines have arrived in Jefferson .

3. The major road from I-77 is being widened to four and even six lanes.

4. Wal Mart has built a super store.

5. The first golf course communities have been a success.

6. Art galleries and interior designers are setting up shop prolifically in town.

7. The U.S. dollar is crashing which is causing a big real estate investing distortion. The weak dollar makes this land really cheap to Japanese, European and Chinese investors.

Eerily these are the same signs I spotted in Naples a little over a decade ago when that town began to boom.

Don't get me wrong, Ashe County will not become a Naples Florida, which grew from a sleepy fishing village to a winter residence and then to a full city. West Jefferson is most likely to grow most as a summer residence and tourist area first.

Real Estate Investing

Some of the land we have invested in Ashe County LittleHorseCreek.com

Gary Scott

For more on international real estate investing distortions go to successguidelines.com/retirement/index.htm

International real estate
Real Estate Investing Distortions Make Money
March 17, 2005
International real estate

 

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