Hiwassee Dam – “It’s exhilarating!”
This is Dan Adams explaining his “slam dunk of a 45-year real estate career.” Adams recently listed and sold 1,172 acres in Hiwassee Dam for $9,900,000, which may be a new Cherokee County record.
“We put little ol’ Murphy on the map,” he said with a smile. Adams, who works with Mossy Oak Properties, added that the journey here has been a long one.
“Back in 2005, a company called Bowater Timber owned the land parcel. I dogged them for years,” Adams said. “I kept calling the supervisor asking when they were going to sell.”
Bowater assured him they wanted to sell, but the years kept ticking by. Adams kept his eye alert for any action on the property and finally he saw his chance to buy it.
“All of a sudden, they had this monstrous auction, and I was the successful bidder,” he said. Adams and his partner needed investors to complete the sale and found an amenable group in Colorado.
“They bought our contract and closed on it,” Adams said. He and his partner still hold a small percentage of ownership with the hopes of developing the land into a golf course, as there is not a course in Cherokee County today.
“There are miles of lakefront on Lake Appalachia, and one of the largest privately owned waterfalls in western North Carolina,” Adams said, adding that the waterfall is stunning at nearly 45 feet tall and 35 feet wide.
When the recession hit, Adams said their plans went dormant. For many years, the property sat in limbo.
“But with COVID,” Adams said, “there has been a mini-boom in real estate.”
He told his partners that if they were ever going to sell, now was the time. They agreed, and the property went on the market at just under $10 million. Adams was surprised by the response.
“I fielded over 50 calls and showed the property to 20 different people,” he said.
The potential buyers fell in love with the area’s beauty, of course, but were all drawn to that impressive waterfall. A gentleman from Bradenton, Fla., eventually bought the land at full price, along with 182 adjoining acres.
“He says the family will own it and treat it respectfully.” Adams said, adding that the new owner “leans toward the equestrian side of things, so I don’t think we are going to see a development.”
Adams credits Mossy Creek for their help during this protracted transaction.
“I give Mossy Oak an ‘atta boy,’ When I listed this property, the office came over and did drone videos and staging, turkey decoys and fly fishing pictures,” Adams said. “They spent a whole day and several follow-ups helping us to show this property. This isn’t a Dan Adams by himself; it was a joint effort with Tom Peacock and Cody Mason the drone guy.”
It took eight months from the date of listing to the closing table. Adams said the sale “made quite a splash in Cherokee County.”
He and his partners plan to celebrate with the new owners.
“They have property on Fontana Lake, and we’ll have a big party over there to celebrate on their boat,” Adams said, but he isn’t waiting for a big fancy party to start celebrating.
“My wife and I have sure celebrated, I can tell you that,” he said with a laugh.
Yet, Adams has no plans to retire after his memorable sale.
“Realtors work until we can’t see,” he said, only half joking about it. “There are people in the business 80 years old and still selling properties.”