Yankees and halfbacks jacking up land prices

#1
Rasputin_Vol

Rasputin_Vol

"Slava Ukraina"
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#1
Inquired about a piece of land on Highway 70 (Kingston Pike) about 2 miles west of the Knox Co/Loudon Co line (right where 11 and 70 split).

The property was on a corner of a small damn near dirt road. On one side of the property, there was woods that was seperating it from a pretty nice sized cowpasture. Across the road was a trailer/mobile home. Across the other street was woods that seperated the property from one of those new mcmansion subdivisions...

$173,000 for 4 acres...

I nearly gagged when I the agent told me that. :no:
 
#2
#2
Rasputin_Vol said:
Inquired about a piece of land on Highway 70 (Kingston Pike) about a 2 miles west of the Knox Co/Loudon Co line.

The property was on a corner of a small damn near dirt road. On one of the property, there was woods that was seperating it from a pretty nice sized cowpasture. Across the road was a trailer/mobile home. Across the other street was woods that seperated the property from one of those new mcmansion subdivisions...

$173,000 for 4 acres...

I nearly gagged when I the agent told me that. :no:
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What's a "halfback?"
 
#5
#5
Rasputin_Vol said:
Someone that moved to Florida from up north, then ended up moving halfway back (half back) by settling in East tennessee/western NC/North georgia, or NW south carolina...
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first time I heard that my brother in law who lives in Clarksville, told me about it
Said they we're alot moving into Clarksville

My neighbor in Fayetteville is one. He retired, moved from Chicago, to Florida, stayed a few years, then moved to Fayetteville.
 
#6
#6
vol_in_ar said:
first time I heard that my brother in law who lives in Clarksville, told me about it
Said they we're alot moving into Clarksville

My neighbor in Fayetteville is one. He retired, moved from Chicago, to Florida, stayed a few years, then moved to Fayetteville.
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If you go anywhere between Clemson, S.C. and Highlands, N.C., you would see Florida license plates all over the place. They're like cockroaches.
 
#7
#7
I used to never understand why people moved from up north down to my home town and built these amazing, huge homes that were so out of place. That was, until I moved up here myself and realized that to own your own home - you will invest at least 400,000 are probably more like 500,000-800,000. There is no way that I would want to eat the taxes by not investing that all back into a home - but my god, that can build quite a house back home.
 
#12
#12
I agree that 45,000 an acre is crazy for that location. I don't want to hijack the thread, but something interesting is happening across the street from me that I wanted to mention. There is a little 1/4 acre lot or so across the street. I live in a small town a few miles outside Boston - so we're not talking Beacon Hill here. A small, one-story single family home sat on that lot, and it sold late last year for about 400,000. This summer, the owners tore it down and have built in it's place a larger, two-story two-family home. I don't know what their investment in the new home is ... but, still....that essentially means that bought the plot of land - ALONE - for 400,000. The fact that this seemed like a reasonable purchase - and a good idea for building the home you want is astounding to me. That's about 1.5 million an acre!
 
#13
#13
Rasputin_Vol said:
Still though, 2 miles away from the 11/70 split... no way 4 acres should cost $173k, with a trailer across the dirt road and a cowpasture bordering you.
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That sounds like a very peaceful area, and its very very close to Knoxville. Like you even said, its in the middle of McMansionville, so you know the prices will be inflated. Plus the housing glut isn't hitting ET as hard as other areas, and land values could go hand-in-hand with that.
 
#14
#14
TennTradition said:
I agree that 45,000 an acre is crazy for that location. I don't want to hijack the thread, but something interesting is happening across the street from me that I wanted to mention. There is a little 1/4 acre lot or so across the street. I live in a small town a few miles outside Boston - so we're not talking Beacon Hill here. A small, one-story single family home sat on that lot, and it sold late last year for about 400,000. This summer, the owners tore it down and have built in it's place a larger, two-story two-family home. I don't know what their investment in the new home is ... but, still....that essentially means that bought the plot of land - ALONE - for 400,000. The fact that this seemed like a reasonable purchase - and a good idea for building the home you want is astounding to me. That's about 1.5 million an acre!
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Actually the purchase price was higher if they had to demolish and remove a house, you have to include that cost as well.

For those who don't understand or want halfbacks, don't come to my side of the mountains.
 
#15
#15
volinasheville said:
Actually the purchase price was higher if they had to demolish and remove a house, you have to include that cost as well.

For those who don't understand or want halfbacks, don't come to my side of the mountains.
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That's true. I'm not sure how much that was - but it probably wasn't too high. They did it over about 3 days work. But, still ... it should be factored in.
 
#16
#16
The Dude said:
That sounds like a very peaceful area, and its very very close to Knoxville. Like you even said, its in the middle of McMansionville, so you know the prices will be inflated. Plus the housing glut isn't hitting ET as hard as other areas, and land values could go hand-in-hand with that.
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$173,000 is steep... way too steep for a piece of land near a trailer and seperated from the subdivison by about 1/4 mile worth of trees... on a backroad.
 
#18
#18
Call the tax assessor's office in Lenoir City or Loudon County, find out who the landowner of the mobile home is, and if it is the same as the mobile home owner, a cheaper route could be just flat out making an offer to the landowner of the mobile home location.
 
#19
#19
TennTradition said:
I agree that 45,000 an acre is crazy for that location. I don't want to hijack the thread, but something interesting is happening across the street from me that I wanted to mention. There is a little 1/4 acre lot or so across the street. I live in a small town a few miles outside Boston - so we're not talking Beacon Hill here. A small, one-story single family home sat on that lot, and it sold late last year for about 400,000. This summer, the owners tore it down and have built in it's place a larger, two-story two-family home. I don't know what their investment in the new home is ... but, still....that essentially means that bought the plot of land - ALONE - for 400,000. The fact that this seemed like a reasonable purchase - and a good idea for building the home you want is astounding to me. That's about 1.5 million an acre!
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Not surprising. The most ideally located properties here are all being bought as tear downs. $250,000 off the rip, plus the cost of removal and rebuilding. The town is doing a fair job of fighting such things, but the money will win eventually.
 
#23
#23
Rasputin_Vol said:
$173,000 is steep... way too steep for a piece of land near a trailer and seperated from the subdivison by about 1/4 mile worth of trees... on a backroad.
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Plus they are getting ready to develop a Turkey Creek type area out that way so things are going to be even pricier in the future.
 
#24
#24
Yep. You see it everywhere. Some "poor white trash" in a trailer with about 15 acres hits the motherlode by selling his land to some developer turning it into 3/4 acre lots for those "halfbacks".

Most of these little mountain towns have turned into Yankee oases. Blue Ridge, GA is now revived with antique shops, art galleries, etc. all because of either halfbacks or those from up north coming directly there.
 
#25
#25
I understand why you guys are upset with these developments, but don't paintbrush Yankees I'm from a small New England town that had 2,000 people and a dozen or so dairy farms when i was a kid, not theres over 5,000 with McMansions filling fields i hunted, trapped, and hayed as a kid. Just because someone is from New England doesn't mean that we're subdividers and bulldozers.

We currently have 2 small time grocers and one independant pharmacy here. The yuppies moving in and building want a CVS and a major chain supermarket, because they don't want to have to drive 10mins to Middletown to get their prescriptions on Sunday, or their produce after noon on Sunday.

My advice to you: Fight back. Look at the mil rate, and look at the cost per student of your local schools. Odds are, the property taxes from the new homes will pale in comparison to the cost of their students attending the schools, and therefore the "Tax income" is garbage, on the Net. Fight tooth and nail against City Sewer and Water. It will lead to overdevelopment.

The developers and the "Yankees" and "Halfbacks" have money, and won't let it drop. Nor should you, fight it out. But use facts and reason, and get folks on your side, not just by saying "they aren't from here".
 
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