There was this girl back in highschool that lived in a place like that. Her parents let her throw huge parties. The basement floor would be full of drunk teenagers, passed out by the end if the night. I almost blew it up because I leaned against the huge, custom gas stove and filled the kitchen gas. The outside looked like a junkyard with old tractors and cars.
That's a million dollar, nearly 30 years old, single-wide trailer. That thing was probably <$20k, new, before it got set up near The Hamptons. It's considered a condo, so you don't even get land on which to upgrade to something else.
trailers are also considered vehicles and depreciate in value, regardless whether or not the wheels are still attached or if it's set on a concrete/block foundation.
Very true. Around here, I could probably buy one just like it, without land, that has to be moved after the sale for $5-10k. I don't get what is driving the value for that one, it doesn't come with land. Because it's within 10 miles of the $20m Hamptons mansions?
And it doesn't qualify for a mortgage. It says so right in the description. They're expecting someone to pay cash for it and others in the same trailer park.
If any of you have ever owned vacant land, you'll know what I'm talking about here. The unsolicited offers to purchase that come in the mail are getting embarrassing these days. They peaked, price wise, back in late '21 early '22. I just opened the latest one for $700 an acre. I hope most of them spent all their money on paper, printer ink and postage.
Raw land? Water rights? Agricultural land or land zoned for development. I have no idea if $700 is low or High.
This land is in a development, all four lots completely surrounding a cul-de-sac. If you combine the lots, it would be the biggest piece in the development, excepting common areas. The peak offer was $15k an acre for all of it. Offers for some larger plots of raw land are routinely low, and rarer, but I don't think I've seen one as low as that last I received.
You were offered $15k an acre for undeveloped land and didn't take it? Nerves of steel. I am on the verge of putting in another offer on a plot of land in Vermont, but the last two times I've tried, I was out-bid near the finish line.
Unless I just really screw the pooch financially, I ain't selling anything. I'm diamond handing real estate. it would have been really close to 3x our money if we took that. I think there is still a lot more growth left in them. I get offers for these lots constantly and the drop in price has been dramatic these last couple months. There are others I'd sell for a lot less gains. These are primo lots, go for a lot more on the open market than any offer that comes by mail.
I got one a few months ago offering $2300 for my 3 acres in MO. I find it hard to believe anyone would fall for crap like that.
Here in Upstate NY we bought our land for $750/ acre back in 2001. For the past several years people have been asking, and getting, absolute crackhead prices. When my neighbor listed one of his parcels, I thought maybe I'd pick up another 20-40 acres, but not at the price he wanted. And he was right up front about it, saying someone from Downstate or some other metro area would come along and pay it. He was right, they did.
I get it. If ever do get an offer accepted, I am going to hold on to it for a long time. At least until I can price gouge all the climate change refugees.
The lots I have, the property taxes are cheap as fuck, like $150 a year each. It doesn't cost much to sit and wait for the growth. I wish I could have done some spec houses in 2021, but I didn't think we had enough savings to take on the debt. Would have been screwed if it all went to shit in the middle of construction. Plan is to do them when our own house is paid off.
https://www.businessinsider.nl/a-my...hey-offered-a-staggering-3-75-million-for-it/ Another example of wealthy idiots. Someone is making off-market offers, begging to buy this 800 sqft trailer for $3.75 million dollars, nearly $2mil higher than the current record for a Montauk Shores home. The current owner didn't want to sell and the buyer just kept coming with offers. How long do you have to have fuck you money that it makes you this stupid. That someone's view of money is so distorted that they will throw insane amounts at something like this.