Real estate reality

[thunderdownunder]

Would you consider 127 acres of city land with $55.7 million of improvements a good buy at $583,000. ????

or is it proof real estate is a costly item even when given away.


http://money.cnn.com/2009/11/17/news...uyer/index.htm

Personally I think it a bargain indicative of the desperate times you face. Marked to market in action
At least they can Tax it now.

[Jay]

Re: Real estate reality

Would you consider 127 acres of city land with $55.7 million of improvements a good buy at $583,000. ????

or is it proof real estate is a costly item even when given away.


http://money.cnn.com/2009/11/17/news...uyer/index.htm

Personally I think it a bargain indicative of the desperate times you face. Marked to market in action
At least they can Tax it now.

This is my favorite quote, "But the Silverdome's biggest event was Wrestle Mania III in 1987, when 93,000 fans packed into the stadium to watch Hulk Hogan body-slam Andre the Giant. That was the biggest turnout ever for an indoor sports event."

That is just perfect on many levels.

[BiscayneSunrise]

Re: Real estate reality

Kind of reminds me of those old castles and manor houses one can find in Europe. Steal a 50,000 square for mansion for only $400,000.

But, the taxes are around $40 million in arrears with an annual ongoing tax bill also in the 7 figures.

[GRG55]

Re: Real estate reality

Kind of reminds me of those old castles and manor houses one can find in Europe. Steal a 50,000 square for mansion for only $400,000.

But, the taxes are around $40 million in arrears with an annual ongoing tax bill also in the 7 figures.

Well at least they don't have to worry about a hurricane washing away the rockpile...

[jk]

Re: Real estate reality

Well at least they don't have to worry about a hurricane washing away the rockpile...

is this picture the latest one of the bunker, grg?

[BiscayneSunrise]

Re: Real estate reality

Yeah, I'd say that is pretty safe from any hurricane but isn't good ol' Mad Ludwig's castle another example of a useless real estate monument to one's self?

I've never been there but they tell me the building is an empty shell.

[Jay]

Re: Real estate reality

I've never been there but they tell me the building is an empty shell.

Perfect, I'm gonna buy it if it doesn't have any Chinese drywall in it.