I can’t remember if I told you all about the land in Carrboro that we made an offer to buy. We just got our rejection letter. Check it out on Toby’s
blog! I am still having a problem getting my jaw off the floor from reading the letter!!
I can’t remember if I told you all about the land in Carrboro that we made an offer to buy. We just got our rejection letter. Check it out on Toby’s
blog! I am still having a problem getting my jaw off the floor from reading the letter!!
Wow! $600k! I know that on most properties, the owner can expect to get 10-20% over the tax value, and if the property has not been tax assessed in a number of years, they may be able to get more depending on what the market will bear and the current appraisal of the fair market value of the property. If the property doesn’t appraise for anywhere near $600k, they may have trouble getting a buyer who can find financing for an inflated price — but then again, if you have $600k to spend on two acres of land, you may not need a bank to help you spend it! Land prices around here are just scary…
Oh MY! that is insane!! I don’t even think land sells for tham much here in our most expensive ,million dollar home areas.
Does this land border Lake Platinum, or Gold or something?
yikes! he sounds delusional
Ok, I realize you’re in NC and all, but even here in Colorado, where the Californians are coming in and inflating prices, the most I’ve seen in the gated communities is $20000 for 2 acres. And thought that was over the top.
Please tell me you are going to write him another letter!
I KNOW!! It makes me absolutely sick to my stomach!! This simple little college town with great family festivals and alternative thinkers has become affordable to only the very, very rich!! I was thinking of writing them another letter, but I don’t know what I would say except “But!!… you cant!!.. What kind of money grubbing???… How can you expect??… I can’t even talk to you anymore!!!!”
Sadly, they will probably wind up selling it to a developer who will put 20 homes on .10 acres lots on it and sell them for $350k each at a tidy profit. If you do a search on realtor.com for Orange County (and other surrounding counties), there are places outside the city limits with land that’s more affordable. But Chapel Hill and Carrboro just seem to be their own crazy markets.
But on the upside, good for you for at least asking. You never know if you don’t ask, and maybe the next property you inquire about will turn out to have owners who are interested in what you want to do and be at a price you can afford. (Fingers crossed!)
It would go for as much here too – the only reason we’re sitting pretty on our six acres (for 400!)is because we have the high tension power lines out in the pasture and the wetlands on our back corner make the land un-subdividable. Thinking of you – I know how frustrating this whole thing is! Oh, and not to mention we got a great house in the deal too. That’s insance for just land.
Wow! I have been thinking that land around here (Indiana) has been going thru the roof, but $600k would buy you quite a few acres (like maybe 200+ depending on location!)
Unfortunately developers have made it impossible to afford land anymore. Subdivions are growing like a fungus around here…
$600k is just wrong…but..er..i really wanted to tell you how freakin cool you guys are! i just found this blog and i cant tell you how happy it makes me and how inspirational you are to me. just so you know. 🙂