SERIOUS QUESTIONS FOR SERIOUS LAND BUYERS
(A Public Service offered by Bill Vernon Development)
Welcome to Macon County! We welcome you as our neighbor but
also want your experience in our community to be a pleasant one with NO
surprises. As you shop around for land you will find a wide variety of
options and prices. Close to town or further out, views or valleys, good
access, poor access, high end or low end etc. This is a "straight-up"
discussion on the most serious issues you face. As always… you usually
get what you pay for. Buying land in these mountains is unlike buying
land anywhere else. We have no zoning laws, you MUST be careful! Whether
you purchase from us or another - you need to educate yourself before
making any decisions.
FORECLOSUREs: Big Problems: Just like homes,
developments and communities everywhere have been hit hard by the weak
economy. Some of the largest developments in WNC (Western North Carolina)
have either gone back to the bank or are teetering on disaster. Developers
generally put the raw land up as collateral for bank loans used to build
roads and develop the property. Then, they pay the loans back as land
is sold. Countless developments both under construction and completed
are now bank owned since sales have come to a crawl. Although I'm sure
there are some good deals to be had out there you must ask yourself: Who
will maintain the roads, mowing, maintenance etc? Is there a functioning
(POA) Property Owners Association to share in the costs? Will the bank
honor the promises made by the developer such as covenants, utilities,
paving etc? Will the bank elect to simply sell (dump) the rest of the
unsold land off for "whatever" use it can or slash prices just
to unload the property? A recent article in the Franklin Press told of
a man who was one of the first purchasers of land in the largest and what
was supposed to be one of the best communities in WNC. He, as well as
hundreds of others paid huge sums of money (way more than what we ever
sold for) for their land and for the privilege of building in this new
community. Well, here we are a few years later, the developer is struggling
to hang on. Further development has ceased. Land prices in that community
have fallen to a mere fraction of their original sales prices. Unfortunately,
the gentleman was the ONLY owner built home in the entire community. He
is now faced with huge losses in the homes value and even worse, the prospect
of him being one of the only ones around to cover road maintenance, mowing
etc. which could cost thousands!!! Does it make sense to buy land at ten
cents on the dollar when you may have to spend thousands yearly just to
keep the roads maintained? At Featherstone, since 2005 we have 11 homes
built by owners in Phases 1 & 2 (which are now sold out). ALL of the
land currently for sale Phase 3 (Featherstone's last phase) is owned 100%
by developers Bill & Cheryl Vernon and is free and clear of ANY bank
loans so a bank takeover is impossible! In fact we even offer Owner Financing.
All underground utilities, wells etc. are installed and paid in full.
Our POA is well managed and actively running with a surplus of cash on
hand for maintenance and future problems should they arise. Phases 1 &
2 are completed and paved. All that remains to be done in Phase 3 is the
final paving which will be done as soon as the roads have settled. Looking
for a stable environment…better check us out!
DRINKING WATER: You may find the prettiest,
best land value in the county but if you can't get drinking water what
good is it? Consider what can happen if you purchase a small parcel in
an area where YOU are responsible to drill your own well; at $12.50+ per
foot and an average depth of 700' you'll have 8,700.00 just in drilling
the hole - no pump yet. It is VERY possible that you may have to drill
2 or even 3 holes in order to obtain a good productive well. We've had
a total of 5 non productive holes at Featherstone so far. You could end
up spending 12,000.00 - 25,000.00 or more just in the hole! Add another
3,000.00 - 6,000.00 for the pump and other necessary equipment and your
attempt to secure drinking water could add another 18,000.00 - 30,000.00
to the cost of developing your building site before you even begin thinking
about building your house. Even worse, suppose you purchased a small parcel
as did all your neighbors. They are all ready to build and proceed to
install their septic systems, wells etc. There are state mandated setbacks
that may come over on to your property as result of your neighbors actions
and unbeknownst to you that could render sections of your parcel non-useable
insofar as a well or septic system is concerned. You MUST have knowledge
and be careful so these issues do not come back to kick you in the head
and wallet. Some communities offer chlorinated city water. We prefer and
offer natural, deep well, mountain water - no chlorine other than one
shock treatment to sterilize the system after any work is done. ALL parcels
in Featherstone have access to deep well drinking water delivered right
to the property line - usually right to your finished driveway.
SEPTIC SYSTEMS & PERMITS: This issue
goes hand and hand with the drinking water section discussed above and
has great importance when it comes to smaller parcels. Did you know that
if your neighbor was to install a septic system or drill a well lets say
15' from his adjoining property line with you, this can have a profound
effect on what you can now do with your land? The Health Dept. will require
that there be a 100' setback separating a septic system from a well. Do
you know what happens if you draw a 100' circle around a well? You lose
almost 1 acre of land that can not be used for a septic system! Clearly,
both septic systems and drinking water MUST be addressed together if you
intend to build on the land that you purchase. Your neighbor can definitely
impact you and your options. It is important that you address upfront
if and where will you be able to install a septic system and where will
you get your drinking water. There are cases in Macon County where people
owning a small parcel find that they can no longer get either a well or
a septic system on their land, rendering it un-buildable!
ROADS: A poor road is an invitation to
big trouble and reduced property values! Carefully consider:
ROAD WIDTH: Many lesser traveled or private roads in Macon County
are very narrow. A wide road is a safe road. If you can't easily pass
another car due to width, poor construction or bare spots, who will be
the lucky one who gets to back up to let the other car by?
EMERGENCY VEHICLES: What about emergencies for fire or illness?
If you can't easily pass another vehicle or there are problem spots -
what about a fire truck or ambulance? Don't "scrimp" here as
this is a very serious issue!!!
ACCESSIBILITY: How will you access your land? Will you control
the access or will it be shared with others? Is there an active, functioning
and operational road association of all those using the road? Roads need
constant maintenance…Is the road currently being maintained?
EASEMENTS: Always beware of a property whose access is via an
easement through another persons land. Make sure that you have a deeded
right-of-way that is plenty wide enough and offers you a good deal of
control. Many mountain properties have compromised access and right-of-ways
so be sure to have your attorney review all the access issues.
GRADE & STEEPNESS: Watch for very steep areas - especially
those with gravel that remains badly and continuously disturbed for long
distances. Any steep grade where your tires spin continuously and easily
probably needs to be paved or you'll end up with ongoing, costly maintenance
expenses.
GRAVEL: There is nothing wrong with a good, well built and well
maintained gravel road. However, gravel usually requires constant maintenance.
Dust can also be an issue especially to those with certain health issues.
Roads in the mountains literally "eat gravel" over the first
several years. Their appetite for gravel then slows a bit as they become
more stable over time. Watch out for gravel roads with dirt or clay showing
through. If you see thin gravel with a lot of dirt or clay showing through
the gravel today, while it is for sale, what will it look like a year
from now after another winter or heavy storms? You need to ask the seller
how this will be addressed before you get stuck with thousands of dollars
in repairs and maintenance. Gravel will run you about 300.00 +/- per truckload
not including the bulldozer if you will need to level it!
DRAINAGE AND CULVERTS: The best protection for a road comes when
you can shed the water off easily and quickly. Watch for LARGE heavily
eroded "ruts" or standing water that seem to remain problematic
or are not properly maintained. A good road will also have plenty of culverts.
OTHER IMPORTANT CONSIDERATIONS:
DRIVEWAYS: Will you have a "fully completed" driveway
or do you have to build and or finish off your own? You can figure on
spending about - 18.00 - 20.00 per foot for a "quality" driveway
like the ones we build and include in the price of each parcel (unless
otherwise notated).
VIEWS: Has your view been opened up? More importantly, do you have
control of future tree growth? Or, are you told what could be done? You
come here for a view. We spend "big money" to assure your view
is open and protected for decades to come.
ELECTRIC SERVICE: Is electric readily available? Overhead or underground?
We provide underground power. You can get caught in a revenue guarantee
with Duke Power if you are not careful. Figure on 3.50 - 4.00 per foot
just to bury power.
SECURITY: Will your property be safe and secure? We offer one way
in and one way out. This is security at its best without having to deal
with a sometimes cumbersome or broken gate which many outside vendors
and personnel end up with a combination to anyway.
PROTECTIVE COVENANTS: Be careful! Macon County has no land use
or zoning. Unless you purchase enough land to protect yourself, you could
end up with an undesirable neighbor. Our restrictive covenants are realistic,
reasonable and designed to fully protect your investment without having
to purchase a huge parcel of land.
REFERENCES: Available upon request from those who have purchased
in communities I have built over the years. Reputation is everything!
AT BILL VERNON DEVELOPMENT: We address EVERY
single issue! We have PAVED - D.O.T / State Road Maintained access into
our communities. ALL main roads are VERY heavily graveled. If paved most
roads use a 16 - 18 foot asphalt width. Paving WILL NOT be done until
the roads have properly settled even though this can hurt our early sales
efforts. It can take several years for roads to properly settle depending
on the soil conditions. I personally maintain at my sole expense every
road I build for 1 year before it is turned over to the Property Owners
Association. We feel that if "you are gonna do it…DO IT RIGHT"
so we address EVERY issue facing the prospective land buyer. It is well
worth the piece of mind knowing that you will not be blindsided with issues
that you may never have thought of. Believe me, these days there are many
folks out there who now wish they had addressed the issues outlined in
this discussion more seriously. I have even had previous lookers at Featherstone
purchase elsewhere then come back and tell me themselves that they now
wish they had purchased in Featherstone! Join us for carefree mountain
living that truly is… Simply The Best!!!
|