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2018 Year End Review

 

2018 has been a great year for Pinnacle Sotheby’s International Realty. We have added three exceptional new agents – Wes and Cathy Cleary of TEAM CLEARY who had the company’s highest listing that resulted in the highest sale of the year and Alan Rieger, who sold his first home with the company less than a month after signing on.

We ended the year with a 35% increase from 2017 and finished with over $22 Million in our Volume Sales!

Our company listed 81 properties and sold 56 in 2018.

We have expanded our geographic interest by adding Lake James and Lake Lanier to our waterfront focus and also have agents licensed in South Carolina.


STATISTICS

Pinnacle SIR Stats 

Thomas McKay

Top Sale-$1,442,500

Average Sold Price-$818,000

Michael Holden & Kevin Swerdlin

Top Sale-$1,299,000

Average Sold Price-$448,744

TEAM CLEARY-Wes & Cathy Cleary

Top Sale-$1,442,500

Average Sold Price-$545,833

Alan Rieger 

Top Sale-$1,000,000

Average Sold Price-$459,850


MLS Stats

Lake Lure 

Average List Price-$495,909

Average Sold Price-$363,048

Total Homes Sold-132

Average DOM-135

Rumbling Bald Resort

Average List Price-$453,806

Average Sold Price-$349,247

Total Homes Sold-39

Average DOM-197

Lake Adger

Average List Price-$558,160

Average Sold Price-$514,225

Total Homes Sold-23

Average DOM-91

Tryon

Average List Price-$518,283

Average Sold Price-$342,967

Total Homes Sold-117

Average DOM-102


 

2018 Significant Sales

255 Deerwood Drive Lake Lure, NC 28746 Sold at $1,442,500

139 Storm Ridge Lake Lure, NC 28746      Sold at $1,400,000

111 & 212 Fiddlehead Ln. Zirconia, NC 28790 Sold at $1,299,000

MARKETING 

When your home is represented by the Sotheby’s International Realty® brand it benefits from the worldwide recognition and prestige of the Sotheby’s name and gains exclusive access to highly qualified global clientele.

For those looking to sell their luxury estates, our experienced associates are equipped with the marketing tools needed to ensure your property is presented to a global audience of qualified and interested buyers. Our luxury real estate marketing is designed to give you the competitive edge by increasing interest in your property and engaging our audience both online and off. The Sotheby’s International Realty network acts exclusively on behalf of our client’s individual needs and offer the utmost discretion when helping market and sell your estate.

When a listing is marketed through the Sotheby’s International Realty network it immediately begins a journey to worldwide exposure!


 

 

A Productive November

Our office has closed over $6.5 million in real estate just this month!

Recently Purchased

90 Berry Street in Tryon, North Carolina was recently purchased after just 36 days on the market. The home was both listed and sold by The McKay Group of Pinnacle Sotheby’s International Realty.

The Ultimate Entertainment Home

Spectacular mountain home constructed with outdoor entertaining in mind. From the stone walls surrounding the paver driveway to the meticulously landscaped grounds with cascading waterfalls to the porte-cochere and stone foot bridge that leads to the artisan-crafted outdoor kitchen with authentic Italian pizza oven and outdoor living room all surrounding a beautifully constructed 3 bed, 3.5 bath residence with screen porch,views and guest quarters.
View full details here: http://bit.ly/1i1VDlr

https://www.youtube.com/watch?v=FVCvu8gHp1c

Remarkable Lake Adger Home on 12+ Acres

http://youtu.be/jmOn3NYEsp0

Residing in…Lake Lure, North Carolina

In 1902, Dr. Lucius B. Morse and his brothers purchased 64 acres around Chimney Rock for $5,000.  They later acquired enough land to bring the total to 8,000 acres.
in 1925, the family created Carolina Mountain Power Company and began construction of a dam on the Broad River.  What was born from this ambitious project was the town of Lake Lure.

Encompassing 720 acres and 27 miles of shoreline, Lake Lure enjoys its proximity to larger towns like Asheville and Charlotte.  Within 100 miles of four states, it’s a wonderful destination for water skiing, boating, fishing, golfing, and hiking.

What is it known for?

Always intended to be a resort town, Lake Lure has played host to US Presidents, foreign dignitaries, authors, celebrities and the like.

Lake Lure has been used numerous times as a filming location for major motion pictures including My Fellow AmericansThe Last of the Mohicans, and most famously, Dirty Dancing.

In 2006, Lake Lure was chosen as the location for the HGTV Dream Home where a lucky winner was given an incredible custom home and an SUV.

Recently, in July 2012, National Geographic Traveler chose Lake Lure as one of “7 American Classic Lake Escapes”,  citing “Lake Lure retains the unpretentious character and natural splendor that has attracted vacationers for more than 80 years”.

Where do you want to live?

Why, the lakefront of course! The location of the lake allows for both “big water” views and expansive vistas of Hickory Nut Gorge, Chimney Rock, and the surrounding mountains.
While Lake Lure has several small subdivisions and plenty of rural housing, the largest community is 
Rumbling Bald Resort on Lake Lure.  Inside the 3,600 acre resort lies Fairfield Mountains-a gated, mixed-use community with two championship golf courses, a private beach and marina, restaurants, tennis courts, a pro shop, an spa and fitness center, and both an indoor and outdoor swimming pool.  Prepare to pay a one-time initiation fee of $5,000 and $2,129 yearly POA dues.
Firefly Cove is another option for those looking to have lower association dues though the amenities are not quite as expansive. However, Firefly Cove does offer a community lodge with a fitness room, billiard room, and a large gathering room as well as an outdoor pool and a small marina.  Perhaps Firefly Cove’s biggest “claim to fame” is that it was built on the same cove made famous by the film “Dirty Dancing”. You know; the cove where Patrick Swayze and Jennifer Grey are practicing lifts…

Side Trips

As we mentioned earlier, Lake Lure is in wonderful proximity to larger towns.  Asheville is only a 45 minute drive.  Charlotte is about an hour and fifteen minutes.  Hendersonville is only 25 minutes and Greenville, South Carolina is around 45 minutes.
Much closer however is the small village of 
Chimney Rock, which is of course famous for its 315-foot monolith of the same name. The natural formation now resides in the newly-formed 4,531 acre Chimney Rock State Park.  Below “the Rock”, you’ll find a charming village filled with shopping and restaurants.
Asheville Regional Airport is closest though Charlotte-Douglas Airport is one hour away and Greenville-Spartanburg Airport is only a 45 minute drive.
While both Lake Lure and Chimney Rock offer modest accommodations, we’d recommend renting a lakefront home from a property management company like 
Lake Country Vacation Rentals.

Practical Info

Lake Lure has around 1,200 full-time residents. In the summer though, the population can balloon up to around 10,000.  That’s because many of the homes in the area are second or even third vacation homes.  Because of the provenance of Lake Lure has always been a playground for the slightly more affluent, the real estate market was slower to be affected by the downtown.  2009 proved that no market was immune however, and sales began to drop sharply. Flash forward to 2012 – Lake Lure has now “market-corrected” and though prices have dropped considerably, sales are now returning to the area.

Non-waterfront single family homes start in the $170′s while non-waterfront condos start around the $140 mark.  For those that want to be on the water (and let’s face it, who wouldn’t?), lakefront homes start in the $220′s and go all the way up to $2,650,000.

For information regarding Lake Lure Real Estate and to view all listings available, visit pinnaclesir.com

Residing In…Asheville, North Carolina

Steadfast in its place as one of the most atmospheric cities in the southeast, the “land of the sky”, the eclectic jewel in the crown of western North Carolina.  With its stunning art deco architecture, its vibrant arts scene, its eclectic mix of culture, and its iconic natural setting in the Blue Ridge Mountains, there is a sense of permanence that helps root all who live here.  Where else could a mountain hike in the morning, a tour of one of the largest private residences in the US in the afternoon, enjoying a locally crafted brew while you enjoy music at dusk, and then retiring to a 5-star luxury hotel at night seem so perfectly and incredibly expected?

What is it known for?

What seemed like one of the darkest periods in US history has now proved to be one of Asheville’s most fortunate.
No, it wasn’t New York, or Chicago, or St. Louis.  The city that suffered most from the economic collapse was Asheville-a municipality so poor for so long that the “ancient” buildings never faced the bulldozers or urban renewal.  While many cities chose to default on their Depression-era liabilities and start over with a “clean slate”, the Asheville city fathers chose to pay back every dollar.  It was a burden several generations would endure, until 1976 when the last obligation was paid. During those years, the city stayed much as it was before that black day in 1929.

Asheville today is more than a city where architecture stood still.  It is distinctive because in the year that time stopped, 1929, Ashevillewas a boom town.  A home for the Vanderbilts, a resort for Henry Ford, Thomas Edison and many other historic luminaries, and a Mecca for rising young architects.  Those young minds would follow in the footsteps of master architect Richard Morris Hunt, who built the lavish Biltmore House in 1895.

Asheville is now one of the most visited cities in the United States, with tourists thronging the French chateau-inspired Biltmore House, the Art Deco-infused downtown area, the native granite-founded Grove Park Inn, and the winding roads of the Blue Ridge Parkway.

But Asheville is so much more than just the architecture.  It’s host to Bele Chere; the largest street festival in the southeast.  It was named BeerCity USA 2012. It features numerous 5-star luxury hotels such as The Grove Park InnThe Grand BohemianHotel Indigo, and the Biltmore Inn.  It boasts hundreds of attractions including the Blue Ridge Parkway, hot air balloon rides, historic trolley tours, numerous art galleries including the Kress Emporium and Woolworth Walk. It even has the Asheville Tourists; a minor league baseball team!

Where do you want to live?

Asheville is surrounded by mountains and suburbs are attractive for families looking for homes with more space and greenery.  Popular areas include historic Biltmore Forest, and Biltmore Lake.
For those looking to be closer to the urban action, consider 
The Fitzgerald; luxury condos located on Macon Avenue in the Grove Park area, the historic Montford area, or the Lexington Condominiums in the heart of Downtown.
Biltmore Park embodies both the urban setting with a suburban feel.  While 10 minutes from downtown Asheville, this mixed-used community features single family homes, condos, townhomes, and apartments – all within walking distance of lively restaurants and cafes, spa and health clubs, as well as a range of dynamic shops, businesses and entertainment.

Side Trips

As the largest city in Western North Carolina, it’s easy to get to several charming towns such as Hendersonville, Brevard, and Lake Lure.  In the winter, many head for the higher elevations for skiing in towns such as Wolf Laurel.

Asheville Regional Airport serves Asheville and the surrounding areas and has direct flights to many major US cities such as Chicago and New York City, which are an hour and and hour and a half flight respectively.
Public transportation comes in the form of the 
Asheville City Bus System (ART). However, should you wish to go anywhere outside the Downtown area, you will need your own car.

Practical Info

Asheville continues to be a thriving mecca here in the southeast.  In 2007, the median sale price of a single family home in Asheville was $232,000. Like most markets, Asheville real estate was not immune to the market downturn.  However, the latest reports from June-August of 2012 show a median sale price at $215,000.
Entry-level homes in the eastern suburbs of Asheville start in the high $160′s while luxury homes North and South of downtown Asheville start in the high $900′s and climb to as much as $5,000,000.
Rentals in the downtown area are in demand from students and professionals.  A two-bedroom apartment near the city center rents for $1,100 a month.

For information regarding Asheville Real Estate and to view all listings available, visit pinnaclesir.com