Real estate values in your area for mill/kiln/house/7acres?

[Jonsered2095]

Well here is the other side of residential/commercial.

I purchased my home as residential-commercial. Here in South NJ. The thought 10 years ago was that as the kids would finish up college and move out I would sell for a profit. The property around us has developed nicely and now we are ready to move on as planned.
I have been able to do as many LOUD activities as I want all because of the location. My original investment of @100,000 is now worth 400,000 commercial.

I couldn't have made that kind of money at a job and be home to raise a fine family. Now onto PA and my dream property...... all paid in full.

Congrats; well done!

As far as zoning. It was rural residential before they changed it. I don't believe the short / long term plans are the same here. Once its changed it stays that way until someone applies to change it again. Then the neibours are surveyed to ensure they do not object..... if council has no objections, you pay your fee and its changed.

That's interesting; sounds like a kind of 'ad hoc' approach though. I see the neighbours still have to be consulted and fair enough too.

We have rules to abide here for each zone designation but at different levels. Each zone has rules from 'Permitted Activities' through to 'Restricted Discretionary Activities' - with the former being 'as of right' through to 'at the councils complete discretion'.

In one to three years time the market will be completely different. We are coming off the real estate bubble here in the PNW, and prices are dropping for land and houses. I am looking at foreclosures for 60% of list. Banks are dumping houses in auctions. Supposedly this is just the beginning of the teaser rate housing loan scam inplosion, as rates fix at a higher rate after 2 years.

that may be true for areas that had huge upward price swings. but in markets like Okla. where didn't experience those spike. but raised slowly. the landing will be much softer here than other areas.

ditto for other parts of country that prices didn't raise much..

That's too bad for those who have lost their home... but most may have simply been overly negatively-geared investment portfolio's (risky game imo) but if it's happening (banks selling mortgagee's) it will have an impact depending on how wide spread.

I think here we are at the bottom of the cycle; the long (or short) wait and see before demand and prices rise again. The financial markets are becoming less risk averse also with the USD stabilising.

 

[Rowan]

Over due Update!

Their place sold for around 265K. The real estate agent didn't feel the kiln and crazy shop "added value".

I'm helping the father in law move approx 13,000 bdft of various lumber this weekend. The deal closes Sunday.

Cheers