$300,000 Half Acre Lot / Pines Blue Mountain Beach / LOWEST PRICED LISTING

[2bohemians]

JUST LISTED FOR $300,000
Lowest Priced in the Pines of Blue Mountain Beach!
Lot 14 Surfside Drive West
MLS# 450186

Surround yourself with the raw natural beauty that the Pines of Blue Mountain has to offer. The Pines 62 lot subdivision is bordered by the state forest and conveniently located about one mile from the beach access. It is one of the few neighborhoods along Scenic Highway 30A that features large enough lots to give you privacy and room to grow. This ½ acre wooded lot sits high & dry.

It is currently the LOWEST PRICE lot listed in the subdivision and is an amazing investment opportunity. There is NO build-out time - allowing you the chance to carefully plan & build the home of your dreams. This quiet and peaceful setting nestled amongst the trees - but so close to the beach - is priced to SELL !

Close to shopping, restaurants and the walking/bike trails on 30A. The roads are to be paved and maintained by the county and paid by the owners at a cost of $500 - $800 per year for 10 years. There are also covenants and restrictions for this private subdivision.

Please feel free to contact us for more information.
buythegulf@mchsi.com

[Uncle Timmy]

I live in The Pines and I love it there.

A 1/2 acre is a big property, especially for 30-A. Ideal for people who value privacy. I planned my house so that it will be added onto in the future as my needs (and cash flow) change and with lots about 120'X220' there is plenty of room to expand.

Buying property was a huge decision for me and I have never regretted the choice I made.

[2bohemians]

Hey Uncle Timmy,

Thanks for the post! We live around the corner in the Gulf View Heights neighborhood and absolutely love it too. However, like you said, the greatest thing about the Pines is half-acre lots at the beach. It's a rare thing - especially along the 30A - most are 1/4 acre or less. If we had the money, we would love to buy it ourselves.

[flyforfun]

Great little sleeper development! What a steal of a deal! I bet this want be on the market 24 hours!

[2bohemians]

Hey Flyforfun,
Thanks for the lovely comments about the lot.
Perhaps you should snatch it up yourself before someone else does

[2bohemians]

PRICE REDUCED TO $289,000 !
Seller will consider Owner Financing

For more info, please email.

[2bohemians]

PRICE REDUCED TO $288,000 !
Seller will consider Owner Financing

For more info, please email.

[2bohemians]

Price reduction --- now asking $275,000
with possible owner financing!

Lot 14 Surfside Drive West
MLS# 450186

[Babyblue]

Why the rapid decrease?

[SHELLY]

Why the rapid decrease?

Speaking from my position as 'Master of the Obvious'...I'd say the owners are trying to find the market price.


.

[2bohemians]

Why the rapid decrease?

It's not necessarily a rapid decrease as the property has been on the market for a while. The seller has always tried to be fairly priced in comparison to other available lots in the subdivision and their intention has always been to sell it. This is not a seller that is just holding out -- they really are looking to sell and the current price reflects this. So, come on someone out there -- bring us an offer!

[Ohio Girl]

This will make for a tidy profit for the seller if they get this price.

[BeachKing]

Ya Think !

[2bohemians]

This will make for a tidy profit for the seller if they get this price.

Yes, some folks had the insight to purchase property long before the last "boom" occurred. Some will make money and some will lose money. However, please don't assume that just because something looks like an obvious gain on paper, that the seller will be making a huge profit. There are many other personal & financial situations that take place in one's life that don't allow the consumer/buyer to see the whole picture. Just because someone bought low back in the day, does not mean that if they sell, they will walk away with some jackpot. The fact remains that this is currently the best deal / lowest priced lot in the subdivision regardless of what someone may have purchased it for many years ago.

[2bohemians]

Speaking from my position as 'Master of the Obvious'...I'd say the owners are trying to find the market price.


.

[elgordoboy]

Yes, some folks had the insight to purchase property long before the last "boom" occurred. Some will make money and some will lose money. However, please don't assume that just because something looks like an obvious gain on paper, that the seller will be making a huge profit. There are many other personal & financial situations that take place in one's life that don't allow the consumer/buyer to see the whole picture. Just because someone bought low back in the day, does not mean that if they sell, they will walk away with some jackpot. The fact remains that this is currently the best deal / lowest priced lot in the subdivision regardless of what someone may have purchased it for many years ago.

No need to apologize for trying to make money this is still a free society....sort of. I imagine others would like a "tidy profit" as well if they had anything to sell.

[Mango]

No need to apologize for trying to make money this is still a free society....sort of. I imagine others would like a "tidy profit" as well if they had anything to sell.

doboy, I want to pinch you sometimes.

People want/need to sell at a specific time. It may not be the most opportune time based on market conditions, but reality is some people have to sell for personal reasons.

I don't understand the mentality of researching what someone paid for something. If you did your homework and are in the market to buy something, it shouldn't matter, and isn't anyone's business IMO if the property is priced in the market in the opinion of the buyer.

One doesn't go to a new car dealer and ask how much it cost for the manufacturer to produce the vehicle.

and no, I don't have any stake in this property being offered.

[elgordoboy]

doboy, I want to pinch you sometimes.

People want/need to sell at a specific time. It may not be the most opportune time based on market conditions, but reality is some people have to sell for personal reasons.

I don't understand the mentality of researching what someone paid for something. If you did your homework and are in the market to buy something, it shouldn't matter, and isn't anyone's business IMO if the property is priced in the market in the opinion of the buyer.

One doesn't go to a new car dealer and ask how much it cost for the manufacturer to produce the vehicle.

and no, I don't have any stake in this property being offered.

Pinching is good right?

[fisher]

doboy, I want to pinch you sometimes.

People want/need to sell at a specific time. It may not be the most opportune time based on market conditions, but reality is some people have to sell for personal reasons.

I don't understand the mentality of researching what someone paid for something. If you did your homework and are in the market to buy something, it shouldn't matter, and isn't anyone's business IMO if the property is priced in the market in the opinion of the buyer.

One doesn't go to a new car dealer and ask how much it cost for the manufacturer to produce the vehicle.

and no, I don't have any stake in this property being offered.

Actually, researching what someone paid for a property is a very good idea before buying a piece of property. It lets you know the basis in the property and tells you how low a seller may be willing to go in negotiations.

I most definitely go to the car dealer with knowledge of what the DEALER (current owner of the asset) paid for the car before starting negotiations. Don't you??? I don't understand the analogy with the manufacturing cost of the car--that has no relevance to doboy's point. Why wouldn't you do the same (understand what the current owner of the asset paid) on a much higher dollar purchase of real estate? You would be foolish not to understand the basis in the property as well as recent sales prices for similar properties in the area.

[Bob]

doboy, I want to pinch you sometimes.

People want/need to sell at a specific time. It may not be the most opportune time based on market conditions, but reality is some people have to sell for personal reasons.

I don't understand the mentality of researching what someone paid for something. If you did your homework and are in the market to buy something, it shouldn't matter, and isn't anyone's business IMO if the property is priced in the market in the opinion of the buyer.

One doesn't go to a new car dealer and ask how much it cost for the manufacturer to produce the vehicle.

and no, I don't have any stake in this property being offered.

that's true, but people use the internet to search dealer cost, however incomplete and inaccurate, and proceed to make asses of themselves trying to buy cars. In addition to the cost of a lot purchased for relatively little years ago, add all the carrying costs, the opportunity cost of not investing elsewhere, the property taxes, the vacations perhaps not taken, the indulgences of the moment not enjoyed, the changed plans that take away the dream of building at the beach, and you end up with far more than that number staring back at you on public records. The number is as irrelevant as the offer you may make for the lot purchased for higher than current market value. Will you adjust your offer higher to help mitigate the loss of someone who overpaid? Why would you then use a low cost basis to try to rationalize a lowball?

[fisher]

that's true, but people use the internet to search dealer cost, however incomplete and inaccurate, and proceed to make asses of themselves trying to buy cars. In addition to the cost of a lot purchased for relatively little years ago, add all the carrying costs, the opportunity cost of not investing elsewhere, the property taxes, the vacations perhaps not taken, the indulgences of the moment not enjoyed, the changed plans that take away the dream of building at the beach, and you end up with far more than that number staring back at you on public records. The number is as irrelevant as the offer you may make for the lot purchased for higher than current market value. Will you adjust your offer higher to help mitigate the loss of someone who overpaid? Why would you then use a low cost basis to try to rationalize a lowball?

I like to be armed with as many facts as possible when negotiating a deal. Knowing the owners original basis in a piece of property is simply another fact I like to have in my folder when going to the negotiating table. For instance, it can tell you a little about the potential tax gain or loss the owner will take on the sale. Every tidbit of info can help me formulate an offer for a car, house, lot, business, or any other asset that is subject to negotiation.

I'm not the kind of person that pays sticker for a car or asking price for a piece of real estate unless the facts point in that direction. I get the best deal possible. But, there are plenty of folks out there that do pay sticker without doing the research necessary to know they are paying more than they need to.

[SHELLY]

In addition to the cost of a lot purchased for relatively little years ago, add all the carrying costs, the opportunity cost of not investing elsewhere, the property taxes, the vacations perhaps not taken, the indulgences of the moment not enjoyed, the changed plans that take away the dream of building at the beach, and you end up with far more than that number staring back at you on public records.

Those "costs" are not relevant to the person buying the property. Why should the buyer feel obligated to pay a premium for the seller's "vacations not taken and indulgences not enjoyed?"


.

[Mango]

Pinching is good right?

I like to be armed with as many facts as possible when negotiating a deal. Knowing the owners original basis in a piece of property is simply another fact I like to have in my folder when going to the negotiating table. For instance, it can tell you a little about the potential tax gain or loss the owner will take on the sale. Every tidbit of info can help me formulate an offer for a car, house, lot, business, or any other asset that is subject to negotiation.

I'm not the kind of person that pays sticker for a car or asking price for a piece of real estate unless the facts point in that direction. I get the best deal possible get. But, there are plenty of folks out there that do pay sticker without doing the research necessary to know they are paying more than they need to.

No one says that someone shouldn't be a good comparison shopper.
It would be foolish not to be in any large transaction.
I think being armed with information regarding the property, area tax issues, insurance knowledge, schools, neighborhood and the like are much more valuable in formulating an offer than what someone paid for a property.
I think sellers who had a low cost basis are not desperate enough to accept low ball offers from the vultures that are circling.
If you're an end user, seeking a second home, or even a long term investment, if the price is right, and one falls in love with a property, the sellers cost basis is irrelevant.

[Mango]

Pinching is good right?

Verrry good.

[Bob]

I like to be armed with as many facts as possible when negotiating a deal. Knowing the owners original basis in a piece of property is simply another fact I like to have in my folder when going to the negotiating table. For instance, it can tell you a little about the potential tax gain or loss the owner will take on the sale. Every tidbit of info can help me formulate an offer for a car, house, lot, business, or any other asset that is subject to negotiation.

I'm not the kind of person that pays sticker for a car or asking price for a piece of real estate unless the facts point in that direction. I get the best deal possible get. But, there are plenty of folks out there that do pay sticker without doing the research necessary to know they are paying more than they need to.

If you consider buying anything war, I agree with you. If you consider that there is a life after the transaction, I disagree. If you go into a car dealership, and purchase a vehicle where the salesman earns 50 bucks, and the desk takes in not much more than holdback, I guarantee there may come a day when you'll need service, and it won't be there. You'll have to go elsewhere. Service talks to retail, and decisions are made on the value of the relationship. Today, a local Toyota dealership replaced a high labor, non-warranty item on my wife's minivan because they value my business. I bought my 1st car there over 25 years ago. I want the retail guys to make something, because I want to be welcome there. You may take the short view, and that's fine. Most people conduct themselves accordingly. It's why the Yellow Pages have lots o' lawyers. Regarding real estate, there is a life in the community you buy into. You can take someone to the mat who is down on their financial luck, and I'll bet you'll see them again just when you least expect it. Having cost basis info is not a license to act like just the person you don't want residing next door, nor does it mean you pay up. It's your call, but one day you may be on the other side looking up. I, for one, think price is but one component of the deal. It's also about what you're buying, the use of said item, and when you buy it. I don't think the real estate mantra is price,price, price is it?

[Bob]

Those "costs" are not relevant to the person buying the property. Why should the buyer feel obligated to pay a premium for the seller's "vacations not taken and indulgences not enjoyed?"


.

If your foolish enough to think the cost for the parcel is the only thing the owner's rolling through his head while you're lowballing him/her, you're kidding no one but yourself.

[fisher]

No one says that someone shouldn't be a good comparison shopper.
It would be foolish not to be in any large transaction.
I think being armed with information regarding the property, area tax issues, insurance knowledge, schools, neighborhood and the like are much more valuable in formulating an offer than what someone paid for a property.
I think sellers who had a low cost basis are not desperate enough to accept low ball offers from the vultures that are circling.
If you're an end user, seeking a second home, or even a long term investment, if the price is right, and one falls in love with a property, the sellers cost basis is irrelevant.

Never, ever let emotion come into play when negotiating a deal. That's when you get in trouble and end up overpaying. There is always another car, house, lot, business, etc.

Cost basis can definitely be relevant if the seller is desperate to sell in a market flooded with inventory be it cars, houses, lots or widgets.

[Bob]

Never, ever let emotion come into play when negotiating a deal. That's when you get in trouble and end up overpaying. There is always another car, house, lot, business, etc.

Cost basis can definitely be relevant if the seller is desperate to sell in a market flooded with inventory be it cars, houses, lots or widgets.

you missed my point by several hundred yards, but that's fine, because you have your focus on what's important to you today. There's so much opportunity out there.

[fisher]

If you consider buying anything war, I agree with you. If you consider that there is a life after the transaction, I disagree. If you go into a car dealership, and purchase a vehicle where the salesman earns 50 bucks, and the desk takes in not much more than holdback, I guarantee there may come a day when you'll need service, and it won't be there. You'll have to go elsewhere. Service talks to retail, and decisions are made on the value of the relationship. Today, a local Toyota dealership replaced a high labor, non-warranty item on my wife's minivan because they value my business. I bought my 1st car there over 25 years ago. I want the retail guys to make something, because I want to be welcome there. You may take the short view, and that's fine. Most people conduct themselves accordingly. It's why the Yellow Pages have lots o' lawyers. Regarding real estate, there is a life in the community you buy into. You can take someone to the mat who is down on their financial luck, and I'll bet you'll see them again just when you least expect it. Having cost basis info is not a license to act like just the person you don't want residing next door, nor does it mean you pay up. It's your call, but one day you may be on the other side looking up. I, for one, think price is but one component of the deal. It's also about what you're buying, the use of said item, and when you buy it. I don't think the real estate mantra is price,price, price is it?

Negotiating a great deal does not have to be war. I have bought several cars at rock bottom prices including getting most of the holdback dollars after hard negotiating. The dealer/salesperson always calls me for service and wants to know when I'm going to buy my next car from him or her. Car dealers make virtually no money on new car sales--some people pay well above invoice because they don't negotiate and other pay less than invoice. The dealer wants both customers over the long term as they make most of their profits on service. They want to sell you that car and another car and another car and keep you as a service customer. The dealer will not sell the car at a price that does not make sense. Capitalism is a wonderful thing.

In terms on not wanting a skillful negotiator residing next door--I know lots of people that I wouldn't mind having as a next door neighbor that don't leave one penny on the table when buying. They are good folk, but they won't overpay for a high dollar asset such as a car, boat or house. If they can get a great deal, they take it. Why look down on someone that pays someone else fair market value for an asset (it takes a willing buyer AND a willing seller to make a transaction happen in the marketplace).

And, yes, I negotiate price, price, price once I find the real estate in the right location, location, location.

I've gotten the same type of service you talk about from sellers even though I negotiated firmly at the time of sale. It is possible to negotiate every last penny in a deal and do it in a way that allows for a positive relationship going forward.

However, I do hope that the next time I need to sell something, I get someone that negotiates along your line of thinking. I like it when I can hold on to dollars that would otherwise be taken out of my pocket by someone that likes to negotiate to my bottom line price.

By the way--great avatar!

[Mango]

Never, ever let emotion come into play when negotiating a deal. That's when you get in trouble and end up overpaying. There is always another car, house, lot, business, etc.

Cost basis can definitely be relevant if the seller is desperate to sell in a market flooded with inventory be it cars, houses, lots or widgets.

Emotion happens and will continue to happen, the same way a parent who is disciplining a child will always still love that child, but isn't gushing with sentiment while they discipline.
Yes, sometimes it doesn't work out in a transaction and one moves on, and in real estate today easily may find something else.
Friends of mine made out better in their Sowal purchases, others didn't.
Someone on this Board, oh, it was Shelly , said to buy memorable experiences. That's what I did. I bought a lifestyle I never imagined, lifelong friends, great memories, some headaches along the way too,
My point is you just can't put a price tag on everything.

Looking up a home sellers cost basis is like sneaking around someones underwear drawer.

[rancid]

If you consider buying anything war, I agree with you. If you consider that there is a life after the transaction, I disagree. If you go into a car dealership, and purchase a vehicle where the salesman earns 50 bucks, and the desk takes in not much more than holdback, I guarantee there may come a day when you'll need service, and it won't be there. You'll have to go elsewhere. Service talks to retail, and decisions are made on the value of the relationship. Today, a local Toyota dealership replaced a high labor, non-warranty item on my wife's minivan because they value my business. I bought my 1st car there over 25 years ago. I want the retail guys to make something, because I want to be welcome there. You may take the short view, and that's fine. Most people conduct themselves accordingly. It's why the Yellow Pages have lots o' lawyers. Regarding real estate, there is a life in the community you buy into. You can take someone to the mat who is down on their financial luck, and I'll bet you'll see them again just when you least expect it. Having cost basis info is not a license to act like just the person you don't want residing next door, nor does it mean you pay up. It's your call, but one day you may be on the other side looking up. I, for one, think price is but one component of the deal. It's also about what you're buying, the use of said item, and when you buy it. I don't think the real estate mantra is price,price, price is it?

Doesn't anyone here believe in free market, supply and demand economics. It is not rocket science. Pay the lowest amount the market will bear. All the other hogwash about community and service is just that.
When I am screwed by insurance companies, credit card companies, gas companies and such, I don't complain about goodwill and doing the right thing. It is just business-- no hard feelings, right

[fisher]

Emotion happens and will continue to happen, the same way a parent who is disciplining a child will always still love that child, but isn't gushing with sentiment while they discipline.
Yes, sometimes it doesn't work out in a transaction and one moves on and in real estate today easily may find something else.
Friends of mine made out better in their Sowal purchases, others didn't.
Someone on this Board, oh, it was Shelly , said to buy memorable experiences. That's what I did. I bought a lifestyle I never imagined, lifelong friends, great memories, some headaches along the way too,
My point is you just can't put a price tag on everything.

Looking up a home sellers cost basis is like sneaking around someone's underwear drawer.

I hope no one wants to buy my underwear. But, if someone wants to buy my house, I have no problem with them looking in the public records for my cost basis.

[elgordoboy]

Verrry good.

[SHELLY]

If your foolish enough to think the cost for the parcel is the only thing the owner's rolling through his head while you're lowballing him/her, you're kidding no one but yourself.

And if they decide to walk away from my cash offer, they can add to their collection of "vacations not taken and indulgences not enjoyed," their choice.

Business is business.

(Disclaimer: I'm not looking for any real estate investments, but if I were, I'd use the "business card" method.)

.

[SHELLY]

Looking up a home sellers cost basis is like sneaking around someones underwear drawer.

My belief is when you're going to plunk down a tidy sum of money, it's imperative that a buyer throughly do their homework--check out every shred of information available. The 3 most important things in Real Estate is...Information, Location and Price.

.

[Mango]

My belief is when you're going to plunk down a tidy sum of money, it's imperative that a buyer throughly do their homework--check out every shred of information available. The 3 most important things in Real Estate is...Information, Location and Price.
.

I agree.

I suppose in that market where flipping homes like day traders became the norm, the idea of researching a sellers life and fiscal history became akin to researching a corporations balance sheets and CEO's when buying stocks.

For the end user it becomes much more than bricks and mortar and whether they closed the transaction knowing they measured every penny in the gas tank.

I live in an end user market and R.E. public records are not available on-line, only by visiting the clerks office. Somehow people managed to buy homes/condos/coops here without knowing the price paid by the seller.

[fisher]

I agree.

I suppose in that market where flipping homes like day traders became the norm, the idea of researching a sellers life and fiscal history became akin to researching a corporations balance sheets and CEO's when buying stocks.

For the end user it becomes much more than bricks and mortar and whether they closed the transaction knowing they measured every penny in the gas tank.

I live in an end user market and R.E. public records are not available on-line, only by visiting the clerks office. Somehow people managed to buy homes/condos/coops here without knowing the price paid by the seller.

Times they are a changin. The internet is making most markets much more efficient.

[elgordoboy]

Full disclosure- I am all for the seller making as much as posiible and the buyer paying as little as possible. With the underwear analogy--the research I did before buying my house would be more like having sneaked through the underwear drawer and then pranced around with the panties on my head. Though if prices keep dropping in the short term I'm gonna feel like the undies were soiled grody!

[Mango]

Real Estate Research Must Read



The Riot Brothers Tell All, by Mary Amato, tells a story about two boys, Orville and Wilbur Riot, and how they have no shortage of daily adventures. Sometimes they are rea estate undercover detectives. and they challenge each other to see who can get the most underwear on his head in exactly thirty seconds. Having trouble keeping up with Wilbur and Orville? Follow Riot Brother Rule #4: Run, do not walk, whenever possible.

[SHELLY]

I suppose in that market where flipping homes like day traders became the norm, the idea of researching a sellers life and fiscal history became akin to researching a corporations balance sheets and CEO's when buying stocks.

Not exactly.

It is true the "flippers" were akin to "day traders," BUT day traders (like their flipper brethren) are speculators who don't take time to research fundamentals--they operate only on greed and momentum. They burn white-hot and then die hard and fast--they franticly chase the market up and then, blinded by their greed, tumble down.

Successful "investors," on the other hand, take time to research the fundamentals and gather information on corporate balance sheets, CEOs, etc, before plunking their money down. They are in it for the long haul and are well aware of the market's ebbs and flows. They also have the patience to wait for the market to come to them instead of furiously running after it with the crowd and have the wherewithal to occasionally take profits along the way.

Then there's the "Investulators".....Speculators who claim to be Investors.

.
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[goofer44]

MANGO

Please don't disparage those that like to rummage through other people's underwear drawers. We all have our little fetishes.

[elgordoboy]

MANGO

Please don't disparage those that like to rummage through other people's underwear drawers. We all have our little fetishes.

Pervert!! (saying this to you feels familiar)

[SHELLY]

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Elgordoboy and little brother, HALLOWEEN 1989





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[Mango]

MANGO

Please don't disparage those that like to rummage through other people's underwear drawers. We all have our little fetishes.

It's perfectly ok when it's a distress sale. This will tell someone how low they go on their offers especially if there's a thong involved.

[elgordoboy]

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Elgordoboy and little brother, HALLOWEEN 1989





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Lol..amazing the things we used to do as kids. I am way too cootie shy these days.

[scooterbug44]

MANGO

Please don't disparage those that like to rummage through other people's underwear drawers. We all have our little fetishes.

Very true! A friend is off the plant-watering/house-care list after I came home to find a note in my lingerie drawer saying "guess which pair I tried on"! He was kidding..............I hope!

I don't think someone commenting on the original purchase cost vs. the current asking price and the subsequent profit is akin to rooting through someone's underwear drawer - especially when you have a link to the PA site in your MLS listing!

[Chuckster]

folks, the market atmosphere is rapidly changing....
Seller cost basis has always been relevent to smart shoppers...
and with the changing market, it is essential for survival. (unless you
are a Chevron executive!) Skillful negotiators are those who will be
standing when the dust settles! I notice the word "vulture" was used
in one of the previous emails...
Hey, didn't you see the Jungle Book! Vultures are "good folks"!
"birds of a feather flock together".....and rise above the circumstances!
Fish, I appreciate your classic approach!
Excellent information.
Remember: "Diligence leads to victory".......(the new catch phrase in
the real estate business!).....

[scooterbug44]

A lowball offer doesn't make you a vulture - no law says that they have to accept it!

Only in the land of crazy real estate are people "so insulted by your lowball offer (for 1.5 to 2x what they paid for it a few years ago) that they won't dignify it with a response.

I have some quality phrases to describe someone crying poverty and hardship to justify wanting to sell unimproved vacant land for 5-20x their purchase price a couple years ago ............

[trying2makeabuc]

Successful "investors," on the other hand, take time to research the fundamentals and gather information on corporate balance sheets, CEOs, etc, before plunking their money down. They are in it for the long haul and are well aware of the market's ebbs and flows. They also have the patience to wait for the market to come to them instead of furiously running after it with the crowd and have the wherewithal to occasionally take profits along the way.
.

I wish life was that way. I bought a apartment building in 1985 with great research. The tax increase of 1986 removed tax benefits for investment property. The property was underwater in months.

I guess if you want a 5% return you buy a gov't security. But if you want bigger returns, no matter how much you research, you are still gambling. Hence our current market and the situation that most of us are in.

Regardless of the 'dry powder' that someone has, this is a tough market that many people wouldn't do again if they knew the current situation -well researched or speculator.

[hnooe]

Price reduction --- now asking $275,000
with possible owner financing!

Lot 14 Surfside Drive West
MLS# 450186

I love the Pines, I think that is a great price, great location as well....BIG question though--is there going to be a major assessment for the owners to fix all the messed up roads in there? Or are the roads County owned?.