Looking to Buy with Cash in Asheville, NC in a 1031

[Robin Waters]

Hi all. I'm brand new today to Bigger Pockets but have been drawn to Asheville, NC and watching the real estate market there for a while. I have a few questions if any of you might be able and inclined to answer.

Is Asheville and environs real estate still close to the top of the market, or is it leveling off a bit? 

Does it help when investing to buy with cash? 

Are there many/any bank-owned or lien properties available? 

I'll be closing on a funding property for a 1031 exchange mid-January 2019 and wonder if there might be any opportunities to choose a replacement property there. Since this is an investment (maybe retirement home in the long-run) which I must hold for at least two years, I don't want to buy at the top of the market.

I'm also looking for a real estate agent who might be available to discuss and help with the process if you could make a recommendation for this type of situation? I live now in Colorado and have a 1031 agent in place. Florida-born.

Lastly, is Asheville as charming, amazing and wonderfully diverse as it seems? Would you live the rest of your life there, assuming it remained so?

Thanks and happy 2019 to you all!

[Chris Harjes]

The market has peaked, in August, and is dropping. Already some good opportunity here and there even on the MLS with some frustrated sellers dropping prices. You're also welcome to give me a shout about a couple I'm selling off MLS.

The points above about the changing nature of AVL are spot on. I still love it- great music and food, good biking and climbing and world class kayaking. My big fear for Asheville s future is traffic. It's already bad and getting worse, and the DOT and city are not actively making things better.

Hope that helps!