The Evolution of Atlas: A Breeding (and Chat) Thread

[speckledhen]

This Hemlock Lane home is owned by a trust in Port St. Lucie, FL. Here is a screenshot of the land. It sits at the end of a road next to six acres of wooded land that is probably not in the subdivision. I've never had to deal with a trust in my real estate career. This place was an estate, but not owned by a trust. After having this place, a 1.65 ac lot seems so small, LOL. That blue in the upper left corner is flood plain, but it's much lower than the house, I do believe, at a creek, if I remember that part of Blairsville correctly. The house is at 1999.78 feet, perfect elevation, but it says public water. I hate depending on public water and getting a bill every month. Maybe we could drill a well if the covenants are a "nothingburger" as they say. It sold in 2014 for just $105K.

 

[speckledhen]

Well, I hope I can get verification of the covenants on this one. It would be slightly more convenient in many ways, but still seems very private. Anne is no longer a full-time realtor now so I hope she can do what she needs to do. She works at a full time job for the insurance benefits during the week and shows property after 5 p.m and on weekends so I'm not sure how long it will take her to check out the covenant issue today. I think it's overpriced. A larger, newly renovated ranch sold there in June for less than $140K and a house that was over 2000 sf sold in March for $147, same subdivision. Seems it should be priced around $145K to me.

 

[getaclue]

I'd offer $125,000.00 no more. It's been on the market a long time, and they've had no offers at that price, or they would have already sold it.

 

[getaclue]

If they say no, go up by $5,000.00 if you want, but I wouldn't go any higher.

 

[h2oratt]

Interesting looking for property. My husband does it as a hobby. I would like to get out of calif but I can’t find another place I want to move year round. Our house is a dump but we could fix it up. My only issue is we need a remodel. I hate living through a remodel. Cynthia , where were you living when they did your rebuild?

 

[speckledhen]

I'd offer $125,000.00 no more. It's been on the market a long time, and they've had no offers at that price, or they would have already sold it.

If they say no, go up by $5,000.00 if you want, but I wouldn't go any higher.

One good thing is that the owner is out of state. That means leeway, IMO, same as an estate buy. But, no offer if there are restrictions against poultry. Since Anne is at work, I'm going to take a drive out there and see if it feels okay in the neighborhood or too claustrophobic. It's vacant, most furninshings included it says.

Interesting looking for property. My husband does it as a hobby. I would like to get out of calif but I can’t find another place I want to move year round. Our house is a dump but we could fix it up. My only issue is we need a remodel. I hate living through a remodel. Cynthia , where were you living when they did your rebuild?

We lived in a 30 ft RV in our driveway.

 

[h2oratt]

One good thing is that the owner is out of state. That means leeway, IMO, same as an estate buy. But, no offer if there are restrictions against poultry. Since Anne is at work, I'm going to take a drive out there and see if it feels okay in the neighborhood or too claustrophobic. It's vacant, most furninshings included it says.



We lived in a 30 ft RV in our driveway.

I think that is what we would have to do.

 

[speckledhen]

Well, I went to see the place, at least outside. Unlike my usual "break-and-enter" we've done hundreds of times (you'd be amazed at how many folks hide a key so they don't have to go into the lockbox to get one, or they leave a window unlocked), this place had a real security system, not a fake one. No matter, though,because all except the bathrooms were visible from the windows. House is small, not in bad shape, except the deck needs a lot of boards replaced on the hand railing and flooring. Seems odd to me, a house that is only 13 years old. The lot is heavily treed, but the next door neighbor would be quite visible in winter, too close. It is very "neighborhood-y". And the kicker was that the entrance sign, under the name of the place had burned into the wood "Restricted", a big turn-off. Dogs were barking constantly, no place to put a barn that I could see. The studio was really cool, separate heat pump system, very nice, but I don't think there was a washer inside the actual house.

Not a bad house, but most definitely way overpriced. The studio was the bomb, but other than that, I liked the Seabolt Lane house much better, though I'd want to offer less even with the full 4.76 acres attached to it. Yet, in lieu of that place that still needs an addition, I'd almost check out one of the expensive reverse mortgages to see if we could get enough to pay off the small mortgage, do our master suite addition, put in a lift and do a few other minor things here, then we'd have no house payment and my sons would have to sell the place to pay the mortgage off. By then, maybe it would have appreciated enough, especially being a 3 bd 3 ba rather than a 2/2, that there would be a little bit left after all the accrued interest was paid. But, that way, I'd be using my own money for us, not for them. Just a thought, though generally, I don't like reverse mortgages because they are more expensive, interest-wise. But, why should I care? I won't be paying it, not unless I sell the house eventually.

I realize that I sound all over the place, but I have to explore all these options. This house needs to be more elderly-friendly.

 

[speckledhen]

After double checking, a reverse mortgage would not do what we need, not enough cash, too high on closing costs, etc. We'd have to get a home equity line of credit or loan to put on an addition and a lift. Anne sent me five more listings, all of which I'd seen except one, which was a Palm Harbor home, which I immediately nixed. Tom rejected even seeing the inside of Seabolt Lane. He's pretty disgusted with 800 sf homes upwards of $150K. We'd rather not take a step down. I can fix my sons' wagons, so to speak, in other ways so they don't get this homestead, in ways that won't punish us.

 

[h2oratt]

Well, I went to see the place, at least outside. Unlike my usual "break-and-enter" we've done hundreds of times (you'd be amazed at how many folks hide a key so they don't have to go into the lockbox to get one, or they leave a window unlocked), this place had a real security system, not a fake one. No matter, though,because all except the bathrooms were visible from the windows. House is small, not in bad shape, except the deck needs a lot of boards replaced on the hand railing and flooring. Seems odd to me, a house that is only 13 years old. The lot is heavily treed, but the next door neighbor would be quite visible in winter, too close. It is very "neighborhood-y". And the kicker was that the entrance sign, under the name of the place had burned into the wood "Restricted", a big turn-off. Dogs were barking constantly, no place to put a barn that I could see. The studio was really cool, separate heat pump system, very nice, but I don't think there was a washer inside the actual house.

Not a bad house, but most definitely way overpriced. The studio was the bomb, but other than that, I liked the Seabolt Lane house much better, though I'd want to offer less even with the full 4.76 acres attached to it. Yet, in lieu of that place that still needs an addition, I'd almost check out one of the expensive reverse mortgages to see if we could get enough to pay off the small mortgage, do our master suite addition, put in a lift and do a few other minor things here, then we'd have no house payment and my sons would have to sell the place to pay the mortgage off. By then, maybe it would have appreciated enough, especially being a 3 bd 3 ba rather than a 2/2, that there would be a little bit left after all the accrued interest was paid. But, that way, I'd be using my own money for us, not for them. Just a thought, though generally, I don't like reverse mortgages because they are more expensive, interest-wise. But, why should I care? I won't be paying it, not unless I sell the house eventually.

I realize that I sound all over the place, but I have to explore all these options. This house needs to be more elderly-friendly.

I think out should make the improvements you need for your place so you can live in comfort til your last days.