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I am often asked, “Where is the best location in Highlands to purchase real estate?”  That answer depends on the wants and needs of each individual buyer.

There is high demand for homes in the City Limits where you can walk to Town.  This has been a major trend for several years and that trend will always be desirable.

Newly trending are buyers looking for a home outside the City Limits on 2 or more acres with space for a nice fire pit area, for growing organic foods and fruit trees or sitting on the porch looking out over a garden oasis, a big yard for children/grandchildren, a place for a pond or waterfall feature, outdoor sports and privacy.  Other benefits are lower prices and lower taxes.

One thing’s for sure, the reason people choose Highlands remains the same. There is truly no place like Highlands.

If you have been thinking about making Highlands a second or permanent home…why not now?  Time is ever changing and easily gets away from us and today is all we really have. Although our real estate market is trending upward, take a look and you will still find some of the best real estate values we have seen in several years.  Why?….because you love it!

Lynn Kimball has over 43 years of real estate experience, with 32 years serving the Highlands Cashiers area.  She has gained Emeritus Status with the National Association of Realtors and previously served as Director and Vice President for the Highlands Cashiers Board of Realtors.  Whether you are interested in searching properties or comprehensive information about our area, you are invited to visit her user friendly website at www.signatureproperties-nc.com.  Berkshire Hathaway HomeServices Meadows Mountain Realty has three locations, at 41 Church Street in the Old Edwards Inn complex, at 488 Main Street or visit Lynn at her 2334 Cashiers Road location across from Highlands Falls Country Club.  Lynn Kimball may be reached at 828-421-8193 or by email at Lynn@MeadowsMtnRealty.com

Contributed by

Lynn Kimball

A few years ago I blessed with a family vacation in Alaska. It was my first time there and I was in awe of the glaciers, the snow capped mountains, the natural beauty, the slower pace and the quaint fishing villages.  I imagined what it would be like to live there.

When I arrived back in Highlands, I fell in love all over again.  This has been home for 31 years and I’ve always loved it here, but sometimes getting away puts things into perspective.  I enjoy traveling, but no matter where I have visited, every time I come back home I count my blessings, realizing that there has never been another place I would rather live.

Contemplating the TV shows I have watched about Alaskan real estate, I was reminded of homebuyers scrambling to find a second home on remote islands, without bathrooms, running water or even electricity in some places.  Although daily living in the wilderness is not for most of us, there is only one reason why someone would want to live there…why?…because they love it!

In October of 1984, I came to Highlands for a three day get-away.  I was enamored with the mountains, the natural beauty, the slower pace and the quaint, friendly little town.  I moved here the next spring and have never looked back.  Why?…because I love it!

Steeped in history, Highlands offers a rare combination of scenic beauty, ideal climate and a variety of outdoor recreational activities, all with a charming blend of cultural amenities, fine dining, specialty shops and choice accommodations.  Perhaps the greatest natural asset found in Highlands is the warm and welcoming spirit of its people. There is truly no place like Highlands.

If you are visiting Highlands over the Thanksgiving holidays and have been thinking about making Highlands a second or permanent home…why not now?  Time is ever changing and easily gets away from us and today is all we really have. Although our real estate market is trending upward, take a look and you will still find some of the best real estate values we have seen in several years.  Why?….because you love it!

Contributed by Lynn Kimball
Berkshire Hathaway HomeServices
Meadows Mountain Realty

Lynn Kimball has over 43 years of real estate experience, with 31 years serving the Highlands Cashiers area.  She has gained Emeritus Status with the National Association of Realtors and previously served as Director and Vice President for the Highlands Cashiers Board of Realtors.  Whether you are interested in searching properties or comprehensive information about our area, you are invited to visit her user friendly website at www.signatureproperties-nc.com.  Berkshire Hathaway HomeServices Meadows Mountain Realty has three locations, at 41 Church Street in the Old Edwards Inn complex, at 488 Main Street or visit Lynn at her 2334 Cashiers Road location across from Highlands Falls Country Club.  Lynn Kimball may be reached at 828-421-8193 or by email at Lynn@MeadowsMtnRealty.com

Anyone purchasing a home today is a well advised to have a Professional Home Inspection.  However, it is past time for Buyers and Sellers to use more perspective regarding the results of these Home Inspection Reports.  The following questions and information may be of interest to you.

“Home Inspectors are for the Buyers”:  This is true, especially when the buyer orders and pays for the inspection.  Most Buyers understand that it is to their advantage to share the Report with the Sellers so they can also understand the issues.  “For Sellers?”:  It is always helpful for a Seller to have an Inspection prior to putting their home on the market.  This allows the Seller to repair serious issues if need be, instead of losing a sale later…or at least they can understand pricing their home in a price range comparable to their home’s condition.

After the Inspection, “How Much Shall We Reduce our Offer?”:  Generally the offering price of a home is based on market value in its current condition, not in the condition of a new home.   Please remember…you are not buying a new home. A professional Realtor can give you a good idea of the comparable sales regarding the location, age and condition of a home.

“Home Inspectors are too Nitpicky and Will Identify Every Little Problem in a Home”:  Yes…but no.  Home Inspectors in NC are required to be licensed and are expected to notice as much a possible.  However, Buyers need to understand that the Inspector is only responsible for what is visible and in most cases they cannot predict the future.

“Is the Seller Responsible for Repairs?”:  Just because a reputable Home Inspector brings an Inspection showing every possible issue they can see in a home does not mean that the Seller is responsible for the repair.  Many pre-owned homes have issues, but again the Buyer needs to understand they are not buying a new home.  On the other hand…if the seller is happy with their Contract price, a Seller may want to consider ponying up some bucks for repairs.

“Are Home Inspectors using Scare Tactics?”: Why on God’s green earth would a Home Inspector want to use scare tactics such as suggesting to a buyer: hire a…structural engineer, an HVAC specialist, a septic system engineer, a well specialist, a roofer, an electrician, an environmental specialist???  As we have seen life move into such a litigious society, there is only one good reason in my opinion…they must cover themselves as they cannot be the professional regarding all things.  And most of them have never been licensed contractors.  Although the Buyer has every right to have any and all inspections during their Due Diligence Period, I have found that the majority of things on most Inspection Reports can be handled by a handyman.  This however, is always decided by the Buyer and/or Seller.

Between a Buyer and Seller, the Inspection is usually where the rubber hits the road.  However, it seems to make more sense to look at the whole picture.   A likely sale price in our area is between $300,000 up to $2,000,000.  I’ve seen Buyers and Sellers walk away from a sale for $600.00 worth of repairs.  What logic lies behind this?  Many of us are emotional people, each afraid of being taken advantage of, but it’s time for us to be free of this fear.  We can be free by being willing to look at the issues collectively from the perspective of each individual involved.  Just think…we can all be kinder people and “what a wonderful world this would be”.

Contributed by
Lynn Kimball
Berkshire Hathaway HomeServices
Meadows Mountain Realty

Lynn Kimball has over 43 years of real estate experience, with 31 years serving the Highlands Cashiers area.  She has gained Emeritus Status with the National Association of Realtors and previously served as a Director and Vice President for the Highlands Cashiers Board of Realtors.  Whether you are interested in searching properties or comprehensive information about our area, you are invited to visit her user friendly website at www.signatureproperties-nc.com.  Berkshire Hathaway HomeServices Meadows Mountain Realty has three locations, at 41 Church Street in the Old Edwards Inn complex, at 488 Main Street or visit Lynn at her 2334 Cashiers Road location across from Highlands Falls Country Club.  Lynn Kimball may be reached at 828-421-8193 or by email at Lynn@MeadowsMtnRealty.com

 

 

 

This may sound scary to the Seller who has seen bank foreclosures and short sales across the country.  Why would Sellers want to put themselves in this position?  Let’s take a fresh look at why holding a mortgage can be one of the few tangible and solid investments during these times.  For those who are in a position to offer this as a selling tool, a buyer’s market can bring unparalleled opportunities, when properly advised.

Although real estate values have stabilized in our local market over the past two years, the Highlands-Cashiers area has held better in value and with fewer foreclosures than most parts of the country.  I believe this is because our typical property owner does not depend entirely on the economy for survival.  The majority of landholders are second homeowners and/or investors.  Many have paid cash for their properties.  In fact, a good portion of this small, yet significant segment of society depend on earning interest to make a living.

The Federal Reserve is still keeping interest rates at an all-time low in an attempt to boost the economy.  Their theory is that lower rates will encourage people to make investments in real estate, small businesses and consumer purchases.   This theory remains ineffective because banks are now being governed with such conservative lending practices, it may be difficult for consumers to qualify for loans.  Interesting enough, these difficulties do not just extend to the average borrower. The well-to-do who hold large portfolios of cash and non-liquid assets may have trouble getting financing because many are not showing consistent annual income (a large key today in qualifying for a loan).  This is due in part because they are earning very little interest.  Thus, both buyers and sellers are suffering, even though this is one of the best times in history to purchase property at exceptional values.

Certificates of deposit (CD’s) are still the most secure investment, but they are currently earning an average interest rate of 1+%.  If you happen to own property free and clear of mortgages, you could sell and easily earn a 3 to 4.5% return by holding owner financing.  This could off-set selling your property at a lower value than previously expected, plus increase your annual income substantially.  Mortgages can be relatively short term investments.  It is not uncommon for an owner financed mortgage to have interest only monthly payments with a scheduled balloon payoff in three to five years.  Again, the typical Highlands-Cashiers buyer is affluent and more often than not they pay cash for real estate.  However, in these times they may desire a mortgage until they can sell an existing property or they may be awaiting a scheduled pay-off from another investment.

Mortgage loans have been the backbone of the banking industry since the foundation of our country.  They have only recently become problematic due to poor lending practices prior to the recession.  In the remote case that foreclosure becomes necessary, seller financing puts one in a position to sell the property again at the market value at that time, with the possibility of receiving even higher profits.  Upon selling the property again, the seller could cash-out, reinvest, do a 1031 exchange or hold yet another mortgage on the property at the going interest rate at that time.

Let’s consider a fresh prospective on a conservative, yet traditionally profitable venture.  Holding a mortgage is a sensible and practical approach to investment in today’s economy.  A professional agent with experience in owner financing and knowledge of the local real estate market will be able to assist you and direct you to those other professionals who have the best knowledge regarding owner financing.

Lynn Kimball has over 42 years of real estate experience, with 31 years serving the Highlands Cashiers area.  She has gained Emeritus Status with the National Association of Realtors and previously served as a Director and Vice President for the Highlands Cashiers Board of Realtors.  Whether you are interested in searching properties or comprehensive information about our area, you are invited to visit her user friendly website at www.signatureproperties-nc.com.  Berkshire Hathaway HomeServices Meadows Mountain Realty has three locations, at 41 Church Street in the Old Edwards Inn complex, at 488 Main Street or visit Lynn at her 2334 Cashiers Road location across from Highlands Falls Country Club.  Lynn Kimball may be reached at 828-421-8193 or by email at Lynn@MeadowsMtnRealty.com

 

 

 

 
Contributed by Lynn Kimball
Berkshire Hathaway HomeServices
Meadows Mountain Realty

I personally subscribe to a patriotism rooted in ideas that in turn gave birth to our country.   When I’m feeling patriotic, it’s these ideas that motivated the Founders and compelled them, in many instances, to put their lives, fortunes, and sacred honor on the line.

In reading the Declaration of Independence again, it’s all there. All men are created equal. They are endowed not by government but by their Creator with certain unalienable rights. Premier among those rights are life, liberty, and the pursuit of happiness. Government must be limited to protecting the peace and preserving our liberties, and doing so through the consent of the people.

During patriotic holidays, such as Memorial Day, Flag Day and Independence Day on July 4th, you will see a multitude of flags flying in Highlands.  In fact, you will see flags flying throughout the year.  Highlands is not only a unique and charming mountain town, it is a patriotic town which remains a true example of the Declaration of Independence, our American Constitution, and the Bill of Rights.

Freedom….understanding it, living it, teaching it and supporting those who are educating others about its principles is patriotism at its core.

Where many cities and towns have taken away the rights of the people, Highlands exemplifies freedom.   We are a small community knitted together with the understanding that in and because of our differences, each individual plays an important role.

The annual community Thanksgiving Dinner is served at no cost to all who attend. There are many folks and churches represented who come together on Main Street for the community’s annual Palm Sunday Service, the Easter Sunrise Service, and the Easter Egg Hunt. The Christmas Tree Lighting is complete with Christmas Carols, free hot chocolate and of course our own Santa Claus. The annual Christmas Parade includes a blend of local children and adults displaying their floats, talents, pets and a walking live Nativity scene with real camels.

The annual 4^th of July celebration includes a delicious Rotary Club Barbecue, family games at the Ball Park with a display of the Town Fire Department ladder truck, the Mama Medical Helicopter, live music at the Kelsey-Hutchison Founders Park, plus an awesome display of fireworks after dark.

Highlands School (grades K – 12) still recites the Pledge of Allegiance.  The public is invited to student music events including songs with subjects from contemporary and patriotic to religious and spiritual observance.  Prayer is still allowed in accordance with our Bill of Rights which states freedom of religion….not freedom FROM religion. Unlike the Constitution, the Bill of Rights has never been amended.

Charity starts at home and Highlands has more charitable events and organizations than I have the space to name.

How does any of this relate to real estate?….. As a people, we have the freedom to own land and control it within the boundaries of the law.  Real estate is the backbone of our economy.  In Highlands, we have seen the extreme monetary appreciation of owning real estate and during the recent years of recession, some of the woes that have brought prices down.  Gratefully, our economy has stabilized and people are flocking in large numbers to discover the American dream of owning real estate in Highlands and becoming a part of our special community.

Some of the reasons I hear from visitors is that Highlands remains a safe environment from the crime and fear of potential terrorism found in big cities. It offers a refuge for those seeking a peaceful habitat in a naturally beautiful landscape with a mild climate.

Perhaps the greatest natural asset found in Highlands is the warm and welcoming spirit of its people.

These are some of the reasons why I moved to Highlands as a year-round resident over 31 years ago and I have never looked back.

Lynn Kimball has over 42 years of real estate experience, with 31 years serving the Highlands Cashiers area.  She has gained Emeritus Status with the National Association of Realtors and previously served as Director and Vice President for the Highlands Cashiers Board of Realtors.  Whether you are interested in searching properties or comprehensive information about our area, you are invited to visit her user friendly website at www.signatureproperties-nc.com.  Berkshire Hathaway HomeServices Meadows Mountain Realty has three locations, at 41 Church Street in the Old Edwards Inn complex, at 488 Main Street or visit Lynn at her 2334 Cashiers Road location across from Highlands Falls Country Club.  Lynn Kimball may be reached at 828-421-8193 or by email at Lynn@MeadowsMtnRealty.com

Highlands Newspaper
June 30, 2016Lynn Kimball
Berkshire Hathaway HomeServices
Meadows Mountain Realty

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Your key to finding real estate bargains involves having knowledge of the market.  Bargains are rare, truly few and far between, but every buyer would love to have one.  The reality is that what seems to be a low price, may not truly be a bargain.  What may appear to be a bargain could potentially be a money pit, or is priced low because it is not in a salable location.

Although the Highlands area has had fewer foreclosures than most markets, some of the best bargains out there have foreclosure written all over them.  One of the myths I have experienced in making offers on foreclosed properties is that it is rare for lenders to accept offers way below their asking prices.  In most cases the lenders have already reduced their list prices far below market value when they are placed on the market.  Also, the majority of lenders require proof of funds from the buyer when making the offer and usually allow only 10 days for all inspections.

The biggest problem with foreclosures is that they are in the lender’s hands and more often than not the lender is not looking after the property, at all. In cold winter climates this could mean frozen pipes and water damage.  In general foreclosure properties are sold “as is” and the lender will be putting no money toward fixing anything. Air quality problems that may arise from mold, radon, gas leaks, will not be mitigated. Lead paint will not be replaced nor will asbestos be removed.

Another aspect to finding a bargain in the Highlands market is to have an experienced Realtor who will keep watching properties which have been on the market for a long period of time where sellers are continually reducing their list price.  Many sellers who are no longer able to enjoy their second homes may be simply ready to sell and often at bargain prices.

When looking for the “best buy”, it is important to understand that contracts contingent upon the sale of the buyer’s property, lengthy closing dates and owner financing with low down payments usually do not work.  There are so many factors involved with buying a home and a bargain can often be achieved simply by offering cash or a quick closing.

If you have your heart set on a foreclosed or bargain property, contact an experienced Realtor® to get a sales history on the house. Doing your homework could result in a better outcome. Allow your Realtor® to do the legwork in determining if the property has the potential that meets with your financial requirements and the best location for your needs and/or potential resale value.

An experienced Realtor is your greatest resource for finding the best real estate bargain available at any given time.  A Realtor® has access to the latest listings as well as to a database of contacts to locate the best bang for your buck in the market.  A Realtor® can also help you decipher if a seeming bargain is truly a bargain.

Lynn Kimball has over 42 years of real estate experience, with 31 years serving the Highlands Cashiers area.  She has gained Emeritus Status with the National Association of Realtors and previously served as a Director and Vice President for the Highlands Cashiers Board of Realtors.  Whether you are interested in searching properties or comprehensive information about our area, you are invited to visit her user friendly website at www.signatureproperties-nc.com.  Berkshire Hathaway HomeServices Meadows Mountain Realty has three locations, at 41 Church Street in the Old Edwards Inn complex, at 488 Main Street or visit Lynn at her 2334 Cashiers Road location across from Highlands Falls Country Club.  Lynn Kimball may be reached at 828-421-8193 or by email at Lynn@MeadowsMtnRealty.com

Contributed by
Lynn Kimball
Berkshire Hathaway HomeServices
Meadows Mountain Realty