I’ve been working with a couple today who first called me on Lake Homes and Lots then did a total switch up on me. We ended up looking at homes with a great mountain view, and they now have two choices they really like. One in Hibberts Mountain and the other in Indian Rock Springs.
Anyway, I digress before I even get started. In speaking with them, it brought me to a great point which I have been relaying to my customers for some time. There are three types of properties in Murphy that have an exceptional appreciation rate and do well historically. The three types are: 1) Lakefront 2) Mountain View 3) Water front – i.e. creek, branch, and river frontage.
Lakefront – As with many markets all over the U.S., it’s a great investment and property you can enjoy simply by being on the water. Here in our area, there’s several differently lakes to enjoy. Lake Hiwassee (you’ll see some misspellings, Hiawassee is a common one), Appalachia, Lake Chatuge, Blue Ridge, Nottley, Nantahala, and Santeelah are some of the the lakes people enjoy here in the North Carolina Mountains. I’ll go more in depth on some of these in a later blog.
Mountain View – Just like the quality of anything you can buy, mountain views vary. You could have a little glimpse of a mountain or one where someone else’s trees could grow and block your view. The best views are generally considered multiple layers of mountains where you control the views – in other words, you can cut trees or whatever is in your way because you own the property in front of you where the trees could grow up. Close up mountains are also great, depending on the ridge line and other factors.
Water Front – Think varying ranges of moving water here. A "branch" is the smallest, usually considered to be 4-6 inches at most. Over 4-6" would be considered a creek and can get several feet wide. Rivers are, well, rivers. In Murphy, we have three main rivers: Hiwassee, Nottley, and Valley. All of which are beautiful and quite clean and clear water.
These are great investments for the long term and in some cases, the short term. It’s quite common to see double digit returns on these properties (annually). If you love the water or mountain views, fear not! Your purchase today can lead to a lifetime of enjoyment, or at the least, a better return on your money than you can find in any CD.