Of Ghosts and Warriors — Scotland?s History and Landscape Draws New Real Estate Prospects

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RISMEDIA-NRRE VOL 16-5 July 2000

Of Ghosts and Warriors — Scotland?s History and Landscape Draws New Real Estate Prospects

By Robert Lewis, NRRE Editor

Just the mention of Scotland brings up visions of fierce warriors, men wearing kilts and clan tartans. To others it may mean castle ruins inhabited by ghosts, or historic events involving Bonnie Prince Charles; Robert, the Bruce; William Wallace; or the tragic Mary, Queen of Scots.

But to those who have visited Scotland recently, it is more likely to conjure up thoughts of rolling hills shrouded in mist and covered with heather; spectacular, rugged mountains; lovely, picturesque lochs; and ideal vacation areas unlike any other in the world.

In the heart of the Highlands lies Pitlochry, a typical Scottish village with an appeal all its own that dates back several hundred years. It is a town well known as a tourist and recreational center. Here is where Queen Victoria had a bench built so she could sit and savor the panoramas of Loch Tummel. The bench is still there, and visitors may sit and enjoy the same beauty provided by lochs and mountains, heather and hare bells.

In Dunkeld, another lovely Highland village located some 12 miles south, Beatrix Potter spent time at her summer cottage painting those beautiful watercolor illustrations for her world-famous children?s books about Jeremy Fisher, Mrs. Tiggywinkle, Jemima Puddle Duck and her most famous of all ? Peter Rabbit.

Pitlochry is set amid golf, curling, salmon fishing in the River Tay, bird watching, horseback riding, hiking and other leisure activities. That may explain why real estate sales would be a very active vocation in a town located 27 miles from Perth, 35 miles from Dundee, 75 miles from Aberdeen, an hour and a half from Edinburgh and two hours from the industrial city of Glasgow. Although there are employment opportunities in Perth and Dundee, real estate buyers are not likely to view Pitlochry as a prime commuter location ? especially in winter when snow is likely.

It does offer all the modern facilities including supermarket, shops, banking, most professional services, an indoor leisure center, hospital, high school and veterinary surgery.

Pitlochry also hosts the famous Pitlochry Festival Theater and has a unique hydroelectric dam with glass windows so visitors are able to watch at eye level the migrating loch salmon making their way up the fish ladder.

Pitlochry is a magnet that attracts the outdoorsman, naturalist, sportsman, vacationer, fisherman and romantic. It is a haven for upscale retired people, artists, writers and photographers ? attractions similar to those of Aspen, Colo.

At the heart of the real estate business in Pitlochry is J & H Mitchell WS, which has been a solicitor for 164 years in a venerable old stone building. They have four solicitors and are independent of any affiliation, serving the Highland area of Perthshire through the Pitlochry and a branch office in Aberfeldy that was established in 1966.

J & H Mitchell sold 55 units in 1999 with an average sales price of $115,000 (U. S.). A typical commission for a real estate agent is 1.5 percent of the sale price.

“The biggest challenge to real estate sales in Pitlochry is maintaining a supply (inventory) of properties to meet demand,” according to Dick Soeder, solicitor. He reports that the sales are typically for family dwellings with a garden.

Soeder says that fixed mortgage rates depend on the lender, which would indicate a large range of options to the buyer. “Variable rates are on the low side,” Soeder says, “at 7.6 percent. However,” he says, “recent activities show an upward trend.”

“There has been no significant change in the last few years,” he says, partly due to the shortage in inventory and the fact that the market is very slow. However, we look forward to modest growth in 2000.”

When asked about the Internet and what role the electronic media plays in real estate sales, Soeder says, “At present the role is very small. However,” he notes, “that role is increasing. We at J & H Mitchell find that locals use the Internet as a shopping tool to check out a property before they go see it. However, very few referrals come from the Internet. I think most solicitors in Scotland have Web sites and communicate via e-mail,” Soeder says.

One of the typical listings in this unique market is “The Granary,” which stands within easily maintained garden landscaping set out largely in grass with trees and shrubs. A brook, which in Scotland is called a burn, runs along the southeast boundary of the property. The northeast end of the garden leads to an attractive loch frontage of approximately 30 yards with a gently shelving sandy beach and uninterrupted views over Loch Tummel.

The Granary is a stone-built property that has been modernized and extended to provide a comfortable family or holiday home with separate, self-contained annex. It is well appointed throughout, double-glazed and has electric heating.

The partly glazed front door leads to a spacious entrance hall giving access to all accommodation; two panel heaters; meter cupboard; telephone point; hatch to roof space.

The kitchen/dining area has large picture windows in the dining area facing southeast and northeast with open outlook to Loch Tummel; window/bench seating; storage heater; door to garden. The kitchen area has modern fitted base and wall units with worktops over; stainless steel sink with drainer and mixer taps; plumbed for washing machine and dishwasher; space for cooker and fridge freezer; cooker hood; partly tiled; divider/breakfast bar; spotlights on track.

The lounge, located on the mezzanine floor, has a large picture window to northwest with northeast facing side windows that offer a lovely view over Loch Tummel and beyond; inside, a wood burning stove set on tiled hearth warms the room.

In this three-bedroom home, the spacious master bedroom faces southeast and includes a panel heater, telephone point and curtain rail. A short flight of steps from the entrance hall leads to a passage giving access to the annex and to the garage and cellarworkshop. The annex contains a lounge/sitting room, a fourth bedroom and a shower.

There is a good-sized cellar workshop with power and light, external door to garden and an internal door to the garage, which has an up and over door and is lighted.

The minimum acceptable offer on The Granary is $290,000 (U.S.) Soeder, who can be reached by e-mail at
j@mitchell.co.uksums up the current and future of real estate in the Scottish Highlands. “We expect to experience modest growth this year and in the future. After all, we know the market and we know our clients and what they are looking for. And we’ve been serving both for more than 164 years.”

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Sunday, March 21, 2010