$5,850,000

MLS Number: 50913

City: Valle Crucis, NC
Stories: 2
Bedrooms: 4 Baths: 4.5
Area: Boone-Blowing Rock, NC
Year Built: 1990
Plus Five fully furnished 1,400 sq. ft. Rental Cottages. Each built in 1996 on approx. 1/2 acre sites. Current cottage average annual rental income $150,000.

39.4 acres with 360 degree view of Blue Ridge Mountains.

5,200 sq. ft. main house built in 1990 on 1.24 acres.

No restrictions and no zoning offer many other options:

* Family compound
* Corporate retreat
* Religous retreat
* Horse farm / Dude ranch
* Recording studio
* Cottages can be sold separately
* Land can be further subdivided if desired

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

click here for more information

search for : Valle Crucis, NC, Blowing Rock, NC, Blue Ridge Mountains

Demand for new homes may not return to normal levels until next decade, according to the latest outlook from the National Association of Home Builders. “Traditionally when housing has been in a recession, it recovers very quickly. We don’t see that happening this time,” said Jerry Howard, CEO of the builders’ trade group. “It could be 2010 before we see sustainable, long-term stability in the home building sector.”

As recently as the end of 2007, the trade group was forecasting a pick-up in the demand for new homes in the second half of this year.But Howard said the best case scenario now calls for stabilization in the market in early summer, with no signs of improvement until early next year. (more…)

Addressing the nation’s home foreclosure crisis has produced a breakthrough in the United States Senate as Democratic and GOP leaders defused a potential filibuster. Majority Leader Harry Reid and GOP Leader Mitch McConnell of Kentucky agreed to bring a bipartisan bill to the floor as early as Wednesday instead of a Democratic plan that stalled a month ago.

Opponents argue that the provision rewriting the bankruptcy code would allow borrowers to effectively rewrite their mortgage contracts and would prompt lenders to tighten their standards and raise interest rates. The legislation is likely to draw on elements of the Democratic plan such as letting states issue $10 billion in tax-exempt bonds to refinance subprime loans and permitting homebuilders and other money-losing businesses to reclaim previously paid taxes. (more…)

search for : home foreclosure