Real Estate Investors, Retirees Set Sight on Appalachian Region
Overpriced metro markets creating demand in more affordable areas of Western North Carolina, North Georgia and Eastern Tennessee.
Murphy, NC (PRWEB) January 24, 2007 -- As the housing and real estate markets continue to abate in many metropolitan regions, investors and home buyers are now focusing their attention on more affordable areas with greater appreciation potential. One such region, in the Appalachians of Western North Carolina, has seen steady demand from baby boomers, retirees and property investors in recent years.
"More and more potential buyers are fed up with big city life and looking to get out," said Dex Hubbard, broker and co-owner of Hubbard Land Company, a real estate firm located in Murphy, North Carolina.
"There's more bang for the buck out here and it's an opportunity to invest in one of the most beautiful areas of the country," he added.
Additionally, there are some indications retirees are beginning to shy away from traditional haven states such as Arizona and Florida. Hurricanes, soaring insurance premiums and rising tax bills have many potential Floridians considering alternatives such as Western North Carolina.
There has also been an increasing trend of southern residents who are migrating to the Carolinas for their golden years. Commonly referred to as "halfbacks," they move down to Florida from the North, then move halfway back later in life.
"People are attracted to the Appalachian foothills because the views are breathtaking and it's like being on a permanent vacation," contends David Hubbard, broker and co-owner of the company.
He added, "We're seeing interest from investors who realize the potential of this area as well as late boomers and retirees who want to call this place home."
Statistics are proving the influx of residents to North Carolina may be more than a passing phase. According to the U.S. Census Bureau, the state saw an increase in population by 6.1% between 2000 and 2004, ranking ninth nationwide.
According to Hubbard Land Company, the growth is attributed to the transformation of the region in recent years.
"Things are much more upscale and sophisticated than they were in the past. People are learning this area is no longer the backwoods," said Dex Hubbard.
As an example, Hubbard cites a new, upscale subdivision called Grandview Falls, which includes breathtaking, long-range views and Bear Paw Views, a stylish mountain community located in the region.
More information can be found at www.hubbardlandcompany.com or by calling 866-226-9417.
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