Sounds like a great deal since land in the Portland area is going for $600,000-$900,000 an acre right now.
Buying Land.
I got in offer from my uncle to buy some land in Pocono Country Place - PCP Homes and Real Estate for Sale in Tobyhanna, PA For under 20k. Its 1/3 of an ac. Just want to know what you all think. Is this sound like a good deal?
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I think the question is why do you want 1/3 of an acre in Tobyhanna, PA? My understanding is that it is not generally a great idea to buy vacant land unless you have plans to use/build on it in the immediate future. If you are simply looking for an investment, you could find plenty that are more liquid with guaranteed rates of return. There are a lot of folks out there with lots they bought as investments that they now are unable to resell at any price.
I suggest you check out the land before you buy it if possible. It's not California, so it's not going to appreciate very quickly.....
I'm not so sure investing in any real estate is a great choice right now. Unless you are going to build something there for yourself, or you're in it for a long term (at least 5+ years) there are better options out there right now than real estate. Despite what all the realtor associations are trying to have people believe right now, the declining housing and real estate market has some more to go before it bottoms out.
I wouldn't buy any lot of land unless you see it for yourself. Take a look at how it's parceled, zoning, and any restrictions placed on it.
That particular {region} has a history of taint:I got in offer from my uncle to buy some land in Pocono Country Place - PCP Homes and Real Estate for Sale in Tobyhanna, PA For under 20k. Its 1/3 of an ac. Just want to know what you all think. Is this sound like a good deal?
The New York Times > New York Region > A Home Too Far: Blue Skies and Green Yards, All Lost to Red Ink
Google for more information (not to say that all deals are bad). Always see the lot first and confirm rates, fees, suitable for building etc.
{edited} buyer beware
I own 15 acres on Lake Wallenpaupack out there....prices have gone up precipitously. I am in the process of developing a subdivision there. I believe in the mkt out there with so much to offer. My land is on the largest lake, and they have ok'd a high-speed train from Manhattan AND gambling, so I think it is a great deal. But I am not sure about this particular piece you speak of and you should go there and see it personally first and do research on its history~I got in offer from my uncle to buy some land in Pocono Country Place - PCP Homes and Real Estate for Sale in Tobyhanna, PA For under 20k. Its 1/3 of an ac. Just want to know what you all think. Is this sound like a good deal?
wow so not ture....I suggest you check out the land before you buy it if possible. It's not California, so it's not going to appreciate very quickly.....
Manhattanites are tired of the traffic jam to the Jersey Shore and to the Hamptons....this is the next place. It is an hour and a half door to door for those of us that live in Manhattan, and trust me, my NYC apt has appreciated far more than Cali real estate....that is a bold statement,, but wrong
Take a look at the land, as the previous person said. Make sure the land is reasonably fertile and its not near a landfill or toxic waste dump, or that the land isn't covering something unexpected, like an old cemetary or something...Take a look at the weather in the area. Are there tons of trees, just a few or none at all? What is the history of the land/area? Just a few things you might want to consider checking out.
Not saying I have much knowledge about this, (we did get some major acreage and have seen its value morph at better than CA rates but we are not in it to sell or develop, so it is just #'s on a page, and more of a burden that way... can you say "real estate taxes") but going to my point:
if there are trees on the land, and you expect to do anything with them, the species and condition affects their value. Of course on 1/3 of an acre, this means less. And if you plan to build at all, there are many parameters to consider. Are you close to services? What about zoning? Water supply? Perk tests for leach fields (or is there sewer service)? Are there wet lands or any protected lands nearby (this has a huge effect on septic planning)? Is there power supply nearby? I know of younger folks who naively bought land with plans to build and then simply the cost of dealing with (i.e. developing) services made it undoable. And if this is so, the resale value of the lot is also affected. Again, my knowledge is limited, but I would do my homework.
if there are trees on the land, and you expect to do anything with them, the species and condition affects their value. Of course on 1/3 of an acre, this means less. And if you plan to build at all, there are many parameters to consider. Are you close to services? What about zoning? Water supply? Perk tests for leach fields (or is there sewer service)? Are there wet lands or any protected lands nearby (this has a huge effect on septic planning)? Is there power supply nearby? I know of younger folks who naively bought land with plans to build and then simply the cost of dealing with (i.e. developing) services made it undoable. And if this is so, the resale value of the lot is also affected. Again, my knowledge is limited, but I would do my homework.
And check for flood plain. I once looked at a beautiful 6 acres at a very reasonable price, only to find that most of the property was in the flood plain--you can't even build a barn in the flood plain. Would have only been able to build on the very front of the property. Needless to say, that's why it was priced so low!
Research comps on the last 12 months of sales in that area....will tell you a lot.
Does anybody no for sure if they going to build a train from, NYC to Tobyhanna, PA. The land is in a nice subdivision away from the entrance. Its the biggest piece land on that street. Its the last empty one, the rest have houses bulit on them. I hope they bulid the train, then I would but it.
I know for sure there is a train from Penn Station to Hoboken, then one is proposed to be constructed fro Hoboken to Scranton and Strausberg....We are looking at 2010 completion though if you include beaurocracy.... here is a link about the passing of congress and monies... NJ.com: Everything JerseyDoes anybody no for sure if they going to build a train from, NYC to Tobyhanna, PA. The land is in a nice subdivision away from the entrance. Its the biggest piece land on that street. Its the last empty one, the rest have houses bulit on them. I hope they bulid the train, then I would but it.
I stand corrected thenwow so not ture....
Manhattanites are tired of the traffic jam to the Jersey Shore and to the Hamptons....this is the next place. It is an hour and a half door to door for those of us that live in Manhattan, and trust me, my NYC apt has appreciated far more than Cali real estate....that is a bold statement,, but wrong
Apparently I don't know anything about real estate on that side of the state. I still stand by my suggestion to look at anything before you purchase it. Even if you get someone to take pictures.....You mentioned it's the biggest on the street, yet it's the only empty plot, and it's the last one......in my mind those are red flags saying "so what's wrong with it?"
I hear ya hooha....I agree....Something must be wrong if it is lingering. Get a perc test...is there a drainage issue? Get as much info as possible on it. It has to have been filed with the state since it is in an active subdivision.
No no, my uncle wanted to build a house for his family on this land, but his wife wont move from NYC, so he just wants to get rid of it. He bought it 10 years ago.
gabe,
if you buy it you need to understand that building a house on it will generally run $100k-200k depending on size and construction method. You can go cheap and rent it out, or go big and sell it (both assuming you stay in Japan).
if you buy it you need to understand that building a house on it will generally run $100k-200k depending on size and construction method. You can go cheap and rent it out, or go big and sell it (both assuming you stay in Japan).
hehehe out here it is 200 per square foot to build...unless you plan on a tiny house, it will run way more than that. I am paying 220 per sf on my development project and that is with the "volume" discountgabe,
if you buy it you need to understand that building a house on it will generally run $100k-200k depending on size and construction method. You can go cheap and rent it out, or go big and sell it (both assuming you stay in Japan).
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