By: John Haynes - Developer

I recently found a 2007 issue of a very popular western North Carolina lifestyle magazine that hadn’t been taken out of its wrapper.  In this magazine were numerous advertisements for real estate developments throughout the Appalachian Mountains of Georgia, Tennessee, Virginia, South Carolina and North Carolina.  Many of them featured big name golf course designers and touted all manner of amenities and plans for the future.  What I found most striking was the fact that now in 2010 many of these highly publicized developments are either in bankruptcy today or never built a fraction of the planned amenities or infrastructure and so today are floundering.  If you purchased in one of these communities, you know what I’m talking about. 

I never intended The Headwaters to become a big golf resort community with celebrity endorsements.  In fact, we don’t have a golf course and never will.  There are plenty of good semi-private courses around us to enjoy already.  I quietly came onto the scene amidst the hoopla of dozens of new community openings that featured flashy grand openings with big name entertainers and so forth.  I never held one of these “launch” events.  The reason was that those types of events tended to attract a large number of speculators who had no intention of making that particular development their own.  They were looking for a quick buck.  Unfortunately, many of those buyers who genuinely bought into the lifestyle hype of the developers, who planned on making that real estate purchase the cornerstone of a lifetime of family memories have now been disheartened.  Another reason I never held one of these events is that they cost so much to put together! 

On several occasions, I’ve had visitors tour The Headwaters, only to disclose that they’d purchased elsewhere and regretted it because the developer failed to deliver even a portion of that which was promised.  They look around all that The Headwaters offers and all of our new homes going up, and they let out a sigh of disappointment.  I truly feel for these folks.  They weren’t the greedy speculators.  They were the individuals who truly wanted to make the dream a reality.  If only they’d visited The Headwaters first.  That’s not to say that The Headwaters is the perfect match for everyone out there.  But it certainly has a very broad appeal and that’s one reason we’ve been so successful. 

In my book, “slow and steady wins the race”.  Where others poured countless dollars into slick marketing pieces and promises of high returns, I simply followed my business plan of building high quality amenities that everyone could enjoy in a setting that features incredible scenery, all at a very value oriented price structure.  I didn’t hire a Madison Avenue marketing firm.  We basically developed everything in house.  Most of the photography on our web site and in our literature was taken by myself or my staff right here on the property.  In fact, every photo in our photo gallery page on the web site was taken within The Headwaters.  It bugs me to see the same stock photo in ad campaigns for multiple unrelated developments or photos that have no relationship to the property being offered.  Right here in Banner Elk, there’s a competitor that uses photos of what appears to be Yellowstone National Park and somewhere else in Montana.  Why?  Perhaps they don’t have beautiful scenery to photograph themselves. 

I never loaded up a large office of high paid professionals resulting in outrageous overhead expenses.  Instead, I poured my heart and soul into the property and kept the staff to a bare minimum, but of extremely loyal and skilled individuals.  Since our first closings in April, 2006, we’ve closed 99 transactions which includes several profitable resales.  Given the real estate meltdown of 08-09, The Headwaters has done remarkably well.  Without exception, today our property owners sing our praises. 

If you purchased property in one of these failed, or failing communities, I wish I could do something to help you out.  But one piece of advice: don’t throw good money after bad.  Sometimes you reach a point where its time to cut your losses.  Pick up the pieces and if you’re still in the market and have the ability, call us at The Headwaters and allow my staff to show you how wonderful a place we have here in Banner Elk.  I assure you that you’ll be glad you did.” 

For more about The Headwaters at Banner Elk, visit www.headwatersnc.com or or call us today at 866.200.3290 to schedule a private tour!

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