Sometimes, tough real estate conversations happen when you are least expecting them. Yesterday, as a 
busy day in the field (literally ) wound down, my cell phone rang. A sad, but gentle voice spoke. "
I was referred to you as an Asheville Land and Second and Vacation Home Specialist," she said. I could hear the tension in her voice. At the end of a day in the field, this conversation with a potential seller would turn out to be something to consider deeply.
I thanked her for calling, and listened as she told me she wanted to talk with me about her "circumstances" and how they affected the high-end acreage she and her husband had bought in an eco-community not too far from Asheville.
I learned that she is a recent widow who had agreed to a two-year listing contract just after her husband's death. She didn't want to part with the Land. "It was my husband's favorite place on Earth," she told me.
But she needed to let it go. With the economic downturn, she explained, there had been few showings in the past year, and her husband's long illness had taken a toll on their financial security..
Now, this Land in an eco-friendly development is about an hour's drive from downtown Asheville, NC. Situated within 5 minutes of a small town, it celebrates nature with numerous trails that lead to waterfalls, one of which is on her property. As she enthusiastically described it, I could sense her attachment to the property. This, I understood. And even though Asheville is noted for eco-communities and is a most desirable second home destination, I had to consider her need to sell at this time, as well as the former listing history. Three basic questions came to my mind right away-.
Questions:
1) Was it more than likely that this Land could end up as an expired listing?
2) Would it be impossible to finance if it were not free and clear?
3) Even though we cover large acreages (100-200AC) here in Western North Carolina, could we do justice to this tract?
As we ended our talk, I explained that I would look at "the numbers," and do research via our MLS and by making phone calls to my professional colleagues.
We set up a time to continue our conversation.
I had to know in my heart if there was /was not a possibility of selling the property and give an honest report back to the soft-spoke widow.
Even in the Asheville mountains, one of the most attractive areas of the country for second and vacation homes and for Land, a price reduction and the possibility of lost property value had to be addressed. We would need to agree on pricing the Land "RIGHT"- right from the start or lose the window of opportunity.
Research:
1) Determine the Fair Market Value.(FMV)
2) Take into account the time frame for selling
3) Price the property to take both of these factors (and other factors that may come up) into account.
There could be some tough real estate conversations on the horizon. Stay tuned.
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(*)/'(*) .......... ............" We are on the roll for sustainable innovation." Unauthorized reproduction of any information on this site is a violation of existing copyright laws. All rights reserved.- Eco-Friendly Mountain Homes and Land Legacies-Asheville NC Real Estate Tough Real Estate Conversations. But They Need to Happen. (1)© 2010.
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Asheville NC Real Estate Journal for Mountain Homes and Land Legacies- Asheville 1031 Realty© 2012.. Designations: NAR GREEN®, EcoBroker®, Eco Certified ®Real Estate Consultant, ePRO®. Unauthorized reproduction of any information including photos and graphics on this site is a violation of existing copyright laws. All rights reserved.
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