Sales At The Cliffs

Nice catch by Deeds and Weeds' Peter Finch who spotted this John Boyle and Mark Barrett story on real estate. As Finch notes, all things considered (and all rumors aside), these numbers for the Tiger Woods project at The Cliffs are pretty good in light of the economy.

To mark the official start of sales, the community held an event Nov. 9 with famed golfer Tiger Woods, who is designing its golf course. Jim Anthony, president and CEO of developer Cliffs Communities, said then that about 50 lots in the first phase of the development were spoken for at a total sale price of more than $40 million.

A little more than five months later, Buncombe County property records indicate only 25 lot sales have actually gone through. Sales prices total about $25 million.

Several of those pending sales will still happen, Anthony said last week. Some buyers need to complete property exchanges or make other things happen in their personal finances to finish purchases, he said, while a handful of other buyers have had to back out.

Winter is typically a slow time for real estate sales, and that has been particularly true this year, he said.

“In January and February this year, we were really hit hard. In March we've seen a little bit of a turn,” Anthony said.