Asheville Portfolio of Fine Properties - 2021 Vol. 1

PORTFOLIO OF FINE PROPERTIES WESTERN NORTH CAROLINA IVESTER JACKSON | BLACKSTREAM | CHRISTIE'S 2021 VOLUME 1

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Tight Inventory and Cash Buyers Power Western North Carolina Markets The previous 12 months have seen several new dynamics emerge in the luxury real estate market in our region.

Once in a lifetime low interest rates, a surging stock market, active private equity markets cashing out private business owners, and Covid-19's impact upon the importance of both primary and secondary housing have all combined to create increased demand for luxury homes.

Over 50% of the past year's luxury transactions have been funded with cash. In some price segments, that number has been as high as 60-70% at times. Both the Buncombe and surrounding county markets have seen steady declines in inventory since last May, as the influx of buyers from other regions attracted to the many great lifestyle options that our region offers, continues to increase demand.

In the mid-market luxury segment, just below $1 million in value, inventories have declined to below 50 day absorption rates to as low as 30 days or less in some high demand areas. Days on market numbers have dropped below 140 days in the segment below $2 million in list value, while the ultra-luxury range, above $2 million, has seen a similar pattern, albeit the remaining segment, with a little over 12 months of inventory, offers a few more options for buyers.

New to the market in recent months is the impact this inventory dynamic is having on previously lower demand areas relative to active luxury property sales. The Foothills (Cleveland, Polk, Rutherford Counties) saw over a 150% increase in the fourth quarter of 2020 in sales above $500,000 in value, no doubt impacted by tighter inventories in neighboring areas like Asheville, Arden, and Hendersonville. This dynamic is also playing out in more rural settings, with family compound-style properties drawing increased interest.

The recent rise in the 10 Year Treasury does appear to be impacting the mortgage markets and we will likely see at least some flattening of the rise in demand for mid-market offerings. Buncombe County is still seeing more properties go under contract than new properties coming into the market, therefore competition is fierce and bidding wars abound.

Significantly higher lumber and materials costs, to go with trade labor shortages, have also hampered new construction expansion over the past 12 months. Given the above conditions and their likelihood of extending into at least Q3 of 2021, it appears we are likely to see similar market conditions in most areas of Western North Carolina and beyond.

Regards,

Jonathan Hunter Broker-in-Charge 828-606-4160

Reed Jackson Managing Partner 704-713-3623

ON THE COVER: 181 ARDMION PARK #4 BETSY GUDGER 828-279-5789 SEE P. 10 FOR MORE DETAILS

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REACH THE WORLD'S LEADING COLLECTORS OF FINE ART & EXCLUSIVE PROPERTIES

WISH TO HAVE YOUR HOME FEATURED IN THIS EXCLUSIVE PORTFOLIO? Contact One of Our Expert Brokers at: 828-367-9001 www.IJBProperties.com

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ASHEVILLE

NORTH ASHEVILLE LUXURY 106 Robinhood Road | $3.875 M | MLS 3572869 Laura Browne Livaudais 828-712-5445

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Exquisite. Extraordinary. Elegant. The views are unparalleled. The location is exemplary, close to Downtown Asheville's amenities, the Omni Grove Park Inn, and the Asheville Country Club. The two work from home offices with corner windows are prime. The artwork, high end fixtures and well-appointed furnishings all convey with this superlative dwelling. Delight in the best.

FAIRVIEW

CLIFF TOP ESTATES | SOUTHCLIFF 565 Southcliff Parkway | $2.433 M | MLS 3550827 Jonathan Hunter 828-606-4160 Mike Zboyovski II 828-337-7600

This is a unique opportunity for an exquisite lot/home package offered by award winning homebuilder, Morgan-Keefe Builders. Sitting at just under 4,000 ft in elevation, this custom home provides views that most people can only dream about.

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ASHEVILLE

WALLS OF WINDOWS ON SUNSET MOUNTAIN

101 Crestwood Road | $1.95 M | MLS 3623558 Laura Browne Livaudais 828-712-5445

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Betsy Gudger 828-279-5789

This exquisite Asheville mountain home sits high above the city of Asheville on 2.39 acres in the country, but only minutes to downtown. Architecturally designed, this modern home is filled with light; its walls of windows provide spectacular views of the beautiful Blue Ridge Mountains.

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ASHEVILLE

GROVE PARK SPLENDOR 1 Sunset Parkway | $1.35 M | MLS 3648235 Ellen Browne McGuire 828-551-7027 Laura Browne Livaudais 828-712-5445

Timeless architectural features updated for today's lifestyles. This Griffin Awardwinning historic home has been completely restored and designed for easy living and entertaining. Minutes away from Downtown Asheville!

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UNDER CONTRACT

MILL SPRING

LAKE ADGER

465 North Park Lane | $875,000 | MLS 3710146 Carol Parker 631-834-9943

A stunning home in private Lake Adger with spectacular mountain views, three main ensuites, three full baths + one half bath, potential fourth ensuite, two story great room, a family room, and billard room, an office, a music room, a workshop and more.

ASHEVILLE

BOUTIQ UE CONDO IN HISTORIC LONGCHAMPS LANDMARK 185 macon avenue Suite #A-7 | $750,000 | MLS 3627736 Laura Browne Livaudais 828-712-5445 Ellen Browne McGuire 828-551-7027

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A prestigious and timeless 1920's gilded age Normandy style manor designed by Ronald Greene.

This light filled space is a beautiful blend of Old World charm with modern amenities. An easy lock and go lifestyle conveniently located across from the Omni Grove Park Inn.

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ASHEVILLE

BEAUTIFUL HOME IN CREST MOUNTAIN

56 Destination Drive | $775,000 | MLS 3677559 Oleg Romashchuk 828-215-0576

SOLD

Enjoy the convenient location of this beautiful home in a gated community just minutes from Downtown Asheville. Large windows line the outside walls, inviting vast amounts of natural light. The interior layout is the perfect essence of an open floor plan.

ASHEVILLE

CONTEMPORARY HOME IN LEICESTER VILLAGE 44 Climbing Aster Way | $680,000 | MLS 3676947 Oleg Romashchuk 828-215-0576

This impressive contemporary home design, perched up on a slight hill, encourages amazingly unforgettable Blue Ridge Mountain views. Since its construction in 2017, this home has been meticulously maintained.

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ASHEVILLE

ARDMION PARK

181 Ardmion Park #4 | $1.975 M | MLS 3683834 Betsy Gudger 828-279-5789

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Soak up Asheville’s beauty and history at the penthouse in Ardmion Park condominium.

Previously known as the Skyclub and Asheville’s hotspot for dancing, great food, and famous guests. This home gives the owner the opportunity to soak in the building's rich and unique history, as well as welcome new generations to create their own history.

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FORMER FAMOUS NIGHTCLUB TURNED RESIDENTIAL PENTHOUSE Step back in time and experience Asheville at its best from the Penthouse at Ardmion Park Condominiums. Built in 1894, the former Sky Club was Asheville’s hotspot for dancing, great food, and famous guests.

Originally Oliver Cromwell Hamilton’s mansion, the Sky Club was bought and run by Gus and Emma Adler in the late 1930s.

The Adler’s would host dinner parties for celebrities such as Robert Mitchum and Grace Kelly while they visited Asheville to shoot their movies. The Sky Club was even called a “Gatsby-esque speakeasy” at the time.

In the 1980s, two local businessmen purchased the building and turned it into five condominiums. They planned for the building to have two apartment flats, a townhouse, and two penthouses. The original living room and dining room are now the two flats, and the penthouse is the combination of the former third floor “Sky Room” and restaurant.

The Art Deco architecture and design are complemented by endless views of the Blue Ridge Mountains that surround the city and can be seen throughout this exquisite home. Today, the 2,823 sq ft penthouse combines those two original penthouses to offer a panoramic view of Downtown Asheville, Mt. Pisgah, and sunsets through floor-to-ceiling windows and two outdoor decks.

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SOLD

ASHEVILLE

SOLD FAIRVIEW

BEVERLY HILLS HOME

DEERLAKE HOME ON PRIVATE LOT

221 Beverly Road | $500,000 | MLS 3694954

703 Stone Drive | $630,000 | MLS 3694226

Cami Silver 828-775-9780

Cami Silver 828-775-9780

Closed Representing Buyer

Closed Representing Buyer

SOLD

ARDEN

LONG RANGE MOUNTAIN VIEWS AT ARABELLA HEIGHTS 160 Waightstill Drive | $463,400 | MLS 3706435

Cami Silver 828-775-9780

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BREVARD

Closed Representing Buyer

SOLD

ARDEN

SOUTH ASHEVILLE TOWNHOME 4 Lilac Fields Way | $235,000 | MLS 3688166 Cami Silver 828-775-9780 IJBProperties.com

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SOLD

ARDEN

SOLD

ARDEN FAIRVIEW

MARILYNN KAY PHOTOGRAPHY

CLIFFS AT WALNUT COVE HOME WITH MOUNTAIN VIEWS 90 Smokey Ridge Trail | $1.645 M | MLS 3683655

THE CLIFFS AT WALNUT COVE 98 Raven Cliff Lane | $3.7 M | MLS 3665581 Laura Browne Livaudais 828-712-5445

Stacey Klimchuk 828-777-3152

Closed Representing Buyer

Pending Representing Buyer

SOLD

ARDEN

ARDEN

CLIFFS AT WALNUT COVE MOUNTAIN RETREAT

THE CLIFFS AT WALNUT COVE TOWNHOME

25 Deep Creek Trail | $1.175 M | MLS 3616718

Rachel Alosky 828-329-3552

Ellen Browne McGuire 828-551-7027

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SOLD

Closed Representing Buyer

16 Village Oak Drive #10 | $1.025 M | MLS 3642494

Closed Representing Buyer

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OUR ASHEVILLE SIGNIFICANT SALES

PA N O R A M I C V I E W S

L A K E V I E W PA R K

B U T L E R M O U N TA I N E S TAT E S

10 Beaverbrook Court

370 Midland Drive

4 8 8 L a m b e t h Wa l k

L a u ra B row n e L i va u d a i s | 8 2 8 -7 1 2 - 5 4 4 5

Janet Blake | 828-450-5359

Kim Gentry Justus | 828-301-3330

SOLD - $1,532,500

SOLD - $1.25 M

BLUE RIDGE VIEWS

F OX F I R E

Closed Representing Buyers & Sellers

E l l e n B row n e M c G u i re | 8 2 8 - 5 5 1 -7027 SOLD - $3.65 M

SOUTH CAROLINA CASTLE 601 Fairwinds Road

171 Dry Ridge Road

128 Leisure Mountain Road

D a m i a n H a l l | 8 6 4 - 5 61 -79 4 2

L a u ra B row n e L i va u d a i s | 8 2 8 -7 1 2 - 5 4 4 5

L a u ra B row n e L i va u d a i s | 8 2 8 -7 1 2 - 5 4 4 5

SOLD - $1.2 M

E l l e n B row n e M c G u i re | 8 2 8 - 5 5 1 -7027

E l l e n B row n e M c G u i re | 8 2 8 - 5 5 1 -7027

SOLD - $1.31 M

SOLD - $1.275 M

MONTFORD

WAYA H M E A D O W S

WA L N U T G R O V E

3 7 Wa t a u g a S t r e e t

1 0 0 7 Wa y a h R o a d

3 3 Wa l n u t G r o v e L a n e

L a u ra B row n e L i va u d a i s | 8 2 8 -7 1 2 - 5 4 4 5

J o h n Ke n t 8 2 8 -78 4 - 9 9 1 8

S t a cey K l i m c h u k | 8 2 8 -7 7 7-3 1 52

E l l e n B row n e M c G u i re | 8 2 8 - 5 5 1 -7027

SOLD $2.05 M

Closed Representing Buyer

SOLD $1.3 M

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SOLD - $1,285,800

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An Unrivaled Global Connection

MAP

Reach the World's Most Affluent Collectors of Art and Fine Properties  50 Auction houses, 1,350 Real Estate offices  200,000 monthly digital newsletter subscribers  Magazine & art catalogs read by 250,000+ quarterly 15

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CHRISTIE'S SPOTLIGHT: CHARLESTON, SOUTH CAROLINA If you've been considering a visit to the charming South Carolina city of Charleston, perhaps it's because you've heard about its historic preservation efforts, or that its beaches are just 20 minutes from downtown. Or maybe

someone has told you about its incredible southern hospitality and culinary attractions. It's true - Charleston offers all of that and so much more.

Beautiful beaches and marshes teeming with wildlife, outstanding cuisine, hospitality among neighbors, unique communities overflowing with character, rich traditions, and top medical facilities - these are just a few of the reasons people choose to make Charleston their home.

The area offers a mild and beautiful climate with monthly temperatures averaging in the mid-60's to low 80's for seven months of the year. This incredible weather equates to more time in the sun; whether at the beach on Isle of Palms or Sullivan's Island, on your boat, playing with your children at the park, or sipping sweet tea at an outdoor restaurant.

In addition to the beaches and historic sites it's known for, Charleston is home to minor league baseball, soccer, and hockey teams as well as some of the best golf courses and tennis courts in the world. You will truly never run out of things to see and do in the Lowcountry.

Photography by Keen Eye Marketing

QUICK FACTS

Residents of Charleston truly understand what makes this area a relaxing retreat from everyday life. Visitors travel miles to witness its renowned beauty and historic details.

But for the people who live here, the magic is just outside their front door. To those seeking history, charm, and luxury - it's time to explore Charleston, South Carolina.

 Dating back to 1670, Charleston was the first English settlement to be established south of Virginia.

WILLIAM MEANS REAL ESTATE

 From Neoclassical to Greek Revival and more, Charleston has the largest concentration of pre-Revolutionary homes in the country.

Founded in 1933, William Means Real Estate is one of Charleston's oldest real estate companies and an exclusive affiliate of Christie's International Real Estate. Whether you are searching for a historic property, a beachfront cottage, or a family home somewhere in between, allow us to help you find the perfect place in our favorite town.

William Means offices are located on Broad Street in historic downtown Charleston and in Mount Pleasant's award-winning I'On community. For more information, visit CharlestonRealEstate.com.

 Travel + Leisure and Condé Nast Traveler continually rank Charleston as the Best City in the United States.  Packed with unique boutiques and charming antique stores, downtown Charleston's King Street was named among America's best shopping streets by U.S. News.  The Charleston International Airport is conveniently located just 11 miles away from historic downtown Charleston.

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MOVE-IN READY WATERFRONT HOME

PRIVATE GATED RETREAT

3 BR | 2.5 BA | 2,620 SF | $1.045 M

5 BR | 4/3 BA | 8,062 SF | $1.95 M

732 N Godfrey Park Place | West Ashley

2126 Sewee Indian Court | Mount Pleasant

Lyles Geer 843-793-9800

Martha Freshley 843-297-7530

SELLING OR BUYING VACATION PROPERTY? We partner with trusted market-leading Christie's affiliates worldwide to co-market or locate investment property. Clients get the comfort of a trusted, local, Carolina-based professional, with the international expertise of 1,350 Christie's offices worldwide. See our agent roster on pages 29-30, or call 828-367-9001 for more information.

REAL ESTATE

THE JOHN BICKLEY HOUSE

C H A R L E S TO N R E A L E S TAT E .CO M 8 4 3 - 57 7- 6 6 5 1

5 BR | 4.5 BA | 5,772 SF | $3.195 M

64 Vanderhorst Street | Downtown Charleston Etta Connolly 843-568-0449

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BUNNY KEY

200 Atlantic Street Islamorada, Florida 33036

Introducing Bunny Key, an extraordinary historic Islamorada oceanfront plantation. Once you enter the gate you will be entranced by the prettiest beach on the island of Islamorada with an estimated 240 feet lining the Atlantic ocean and lovely new dock.

The main home and guest wing of 3 bedrooms radiate character at every corner, reminiscent of a time gone by with the inviting Old Florida porch stepping out on to the beach. The Kitchen is lined in custom Pecky Cypress cabinets and stone counters which blends beautifully with the Dade County pine flooring throughout. There is a historic 3 bedroom guest home and a 2 bedroom caretakers cottage on the sprawling grounds, each with beautiful verandas featuring ocean vistas. Detached garage and outdoor kitchen area can also be found. Offered at $7,900,000 USD.

A M E R I C A N C A R I B B E A N R E .CO M K E Y L A R G O : 3 0 5 - 4 5 1 - 4 07 8 I S L A M O R A DA : 3 0 5 - 6 6 4 - 4 9 6 6

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ASHEVILLE

SOLD

UNDER CONTRACT

BEAUTIFUL SOUTH ASHEVILLE HOME 390 Racquet Club Road | $1.465 M | MLS 3657675 Janet Blake 828-450-5359

BILTMORE FOREST HOME 14 White Oak Road | $899,900 | MLS 3691324 Stacey Klimchuk 828-777-3152

Closed Representing Seller

Pending Representing Buyer

MARION

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ASHEVILLE FAIRVIEW

SOLD

FLETCHER

WATERFRONT LOT IN BLACK FOREST

COUNTRY ESTATE IN SHAMROCK HILLS

56 Lake Haven Drive #36 | $349,000 | MLS 3700008

10 Shamrock Hills Drive | $1,322,500 | MLS 3618021

8+ acres with multi homes allowed

Laura Browne Livaudais 828-712-5445

Laura Browne Livaudais 828-712-5445

Britt Allen 828-450-8166

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CANTON

ASHEVILLE

GREAT LIVE - WORK OPPORTUNITY 147 Main Street | $475,000 | MLS 3631789

BILTMORE VILLAGE - INCOME PRODUCING SHORT TERM RENTAL CONDO

Miriam McKinney 828-777-7924

432 Bowling Park Road | $255,000 | MLS 3679005 Miriam McKinney 828-777-7924

SOLD

ASHEVILLE

ZIRCONIA

INCREDIBLE VIEWS JUST OUTSIDE HISTORIC FLAT ROCK

25 Indian Trail #3 | $653,000 | MLS 3669287

6.9 Acres - Cobblestone Village | $329,000 | MLS 3677762

Kim Gentry Justus 828-301-3330

Miriam McKinney 828-777-7924

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INDIAN FALLS ESTATE

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Nature at your doorstep...

Southcliff Just minutes from vibrant Asheville, Southcliff blends mountain modern living and unparalleled scenic beauty, with just the right touch of sophistication and a strong sense of community. Southcliff's residents enjoy access to an award winning outdoor lifestyle featuring miles of hiking trails, community gathering places, and cascading mountain streams, all situated perfectly within the privacy of its secure and gated grounds.

• Exclusive gated mountain community • Spectacular mountain views and 6 miles of unrivaled hiking trails • Outdoor neighborhood gathering spaces, playgrounds, and community fire pits • Voted “Asheville’s Best Long Range Views” in 2017

Build your custom mountainside getaway with us and find your way back to a simpler way of living.

10 Southcliff Parkway, Fairview, NC 28730 SouthcliffAsheville.com | 828-628-3532 | Southcliff@IJBProperties.com

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Wildcat Cliffs A Private Gated Community

Located in treasured North Asheville, the lots in Wildcat Cliffs offer truly magnificent views and underground utilities.

Conveniently located just three miles from dynamic downtown Asheville and five minutes from the Blue Ridge Parkway, Wildcat Cliffs offers unrivaled access to the best Asheville has to offer. Come build the home of your dreams in this prestigious neighborhood. Enjoy the best of mountain modern living at Wildcat Cliffs.

11 lots available with an average size over one and a half acres.

Prices range from $170,000 - $350,000 Laura Browne Livaudais | 828-712-5445 | Laura@IJBproperties.com Ellen Browne McGuire | 828-551-7027 | Ellen@IJBproperties.com

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IJB HOME SEARCH Struggling to find what you're looking for?

Put Asheville's most experienced agents at your fingertips.

• Listings Updated in Real Time • Fast Search Results • Direct Agent Communication

Download our Official IJB Home Search App Today

Search for IJB Home Search in the App Store IJBProperties.com

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JANET BLAKE

STACEY KLIMCHUK

828-450-5359 Janet@IJBProperties.com IvesterJacksonBlackStream.com P. 14,19

828-777-3152 Stacey@IJBProperties.com IvesterJacksonBlackStream.com P. 13,14,19

A love of the WNC mountains brought Janet to Asheville in 2006 from south Florida. She provides professional service to her clients with a wealth of knowledge in contract negotiations and client service. Having 20+ years of paralegal background experience in real estate development, corporate, estate and trust administration serves her clients well. Janet is experienced in new developments, new construction and home renovations. She is trusted in confidential matters and the majority of her clients are repeat customers and personal friends. She volunteers with Habitat for Humanity and the Swannanoa Valley Christian Ministries. Janet's interests outside of real estate include photography, hiking, rafting and exploring our beautiful mountains with her two golden-doodles, Lila and Logan.

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Stacey Adams Klimchuk grew up in Asheville and has watched Western North Carolina grow into the thriving and vibrant region it is today. After graduating from Denison University, Stacey lived in Manhattan where she worked in sports marketing and advertising sales. Ultimately, the allure of the Asheville lifestyle drew her home.

Stacey has an innate understanding of market conditions and trends in the Asheville area and this expertise, along with her marketing and sales background, equates to great results for her clients. She is a skilled communicator and is committed to exceeding expectations at every stage in process of buying and selling real estate. Stacey is a member of Women for Women, The Junior League of Asheville, is a committee member for Maccabiah USA, and supports BRCA research and Breast Cancer Awareness. She and her husband reside in Biltmore Forest with their dog, Bogey. They enjoy golfing, hiking, and exploring Asheville’s incredible restaurant scene.

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CONTACT OUR ELITE AGENTS FOR EXPERT ADVICE

BETSY GUDGER

828-279-5789

CHRISTIAN DIEPHOLZ

828-290-8483

JANET BLAKE

BRITT ALLEN

CAMI SILVER

828-450-8166

828-775-9780

DAMIAN HALL

DAWNINE DE KEIZER

864-561-7942

JENNIE CORN

828-674-3532

JOHN KENT

828-450-5359

828-808-8846

864-784-9918

KIM GENTRY JUSTUS

KIMBERLY HARKNESS

LAURA LIVAUDAIS

828-301-3330

828-458-7472

828-712-5445

CAROL PARKER

631-834-9943

ELLEN BROWNE MCGUIRE

828-551-7027

JONATHAN HUNTER

CATHY DIEPHOLZ

828-699-0224

GEORGE ESCARAVAGE

828-400-0901

JOY PHARR

828-606-4160

704-418-2963

MEG ATKINSON

MIKE ZBOYOVSKI II

843-601-4191

25 828-337-7600 25

MIRIAM MCKINNEY

828-777-7924

MITCH CORN

828-808-8359

OLEG ROMASHCHUK

828-215-0576

RACHEL ALOSKY

828-329-3552

RUDD ORR

828-329-1519

STACEY KLIMCHUK

828-777-3152

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I V E ST E R JAC K S O N | B L AC K ST R E A M - AS H E V I L L E O F F I C E

828-367-9001 18 S Pack Square Asheville, NC 28801 IvesterJacksonBlackStream.com

FA I RV I E W/S O U T H C L I F F O F F I C E

828-628-3532 10 Southcliff Parkway Fairview, NC 28730 SouthcliffAsheville.com C H A R LOT T E O F F I C E

704-817-9826 1515 Mockingbird Lane, Suite 900 Charlotte, NC 28209 LAKE NORMAN OFFICE

704-655-0586 21025 Catawba Ave, Suite 101 Cornelius, NC 28031 NORTH SHORE OFFICE

350 Morrison Plantation Pkwy, Suite C1 Mooresville, NC 28117 IJBProperties.com

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AS H EV I L L E | FA I RVIEW & SO UTHC LIFF | G REENVILLE | CHARLOTTE | LAK E NORM AN | M OORSE V I L L E

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