Ive said many times, Im in the better part of town.
Ah, Roger... you no longer live in a "better part of town"..... or maybe it is the term "better"..... better than what? I know I would have moved years ago, in fact, I moved from an area that was declining (slowly). No sense sticking around if you know what the result is going to be. I got out when real estate prices were high.
Better, meaning most desirable, best schools and neighborhoods, highest per capita incomes.
Those that met that 10-15 years ago in Columbus ; Upper Arlington, Pickerington, Bexley, Reynoldsburg, Dublin. Right now the only one still there is Dublin (where Muirfield Golf Tourn is). All the other nice homes and higher incomes have run away from the city into outskirts like New Albany. Lex Wexner and other society types are all up there now. Other areas like German Village and Victorian Village used to be pretty nice old neighborhoods....but now are cesspools of crime due to the people moving into them. I think both are in some national registries. Now you wouldnt walk your dog after dark. Most of those old brick houses there have barred windows and steel doors due to the number of burglaries and home invasions.
Ah, Roger... you no longer live in a "better part of town"..... or maybe it is the term "better"..... better than what? I know I would have moved years ago, in fact, I moved from an area that was declining (slowly). No sense sticking around if you know what the result is going to be. I got out when real estate prices were high.
Your right, I DID see the writing on the wall and put it up for sale. Its been for sale now over 10 years. Im stuck with it. No one else wants to move here. I did have a few offers a couple of years ago for like $50K for an appraised $450,000 property... So Im stuck with a piece of nearly worthless land I cant do a thing with. My hope is a tornado would wipe out the place sometime while Im down at the island. I almost got my wish last year when a tornado DID wipe out the car wash next door, mess up my roof a little and took down 3 big oak trees. Instead of being leveled, it was just another added expense. I did think Id just put a high fence around it with a powered gate....but city wont approve of ANY kind of fencing, and has a law against any kind of vicous dogs (or animal) in the city. A friend has a home business similar to mine, but hes in Columbus proper. Hes got a fence and some bad ass MFing German Shepards. Theyre huge and tear cars up for fun. Someone did break into his shop once because he found the door pried open, but there was a trail of blood all the way out of the back of the fencing. The victim def had to go to the hospital for all the blood he left. No ones been back.
Your right, I DID see the writing on the wall and put it up for sale. Its been for sale now over 10 years. Im stuck with it
No, you could sell it. You won't get what you want for it, but you are not stuck with it. The longer you hang on to it, the more the value drops, the more you have to monitor it, etc...
BTW, appraised doesn't mean a whole lot anymore. I think you know that though. In real estate, value is about location. ( I should add, that I looked up property in your area and houses are less than $100K and you have a house, which you do business out of. I can't imagine a business buying this house, so you need to find someone with similar interests, but they are not going to pay $450K. People looking for a home won't want it either, as it is surrounded by businesses. Just saying... it is about location). We have a house that was appraised at $1.5M, just down the road from me. It is still for sale... 3 years later and price is about $700K now. Sure, it is a nice house, but no one is going to pay that much for a house in my city. With that kind of money, people will move into the "country".
Is this the location? (from a picture you posted in a related topic)
[This message has been edited by jaskispyder (edited 04-08-2014).]
Roger what would have gone down if you told him to get out fo the car and lay on the ground, you call the cops and you both waited for the cops? Not saying the stuff was worth it, but if nothing gets reported or folks dont have consequences, nothing would change even for one person.
No I wont sell for 1/10th the appraisal...its part of my savings for retirement. Its zoned commercial so it has to be sold as commercial property. No one can live in it so it cant be a home if I move out (grandfathered). Would you sell your house for $10,000 ? Didnt you bother to read the other thread ? Sometime someone will need the land, almost 3 acres total. Thats where the value is, not the building that was built in the 60s. Maybe some black gang will buy it for their new hangout. My guess is the strip mall right next door will expand and have to buy it. Its either that or hope for a weather disaster to hit it and collect insurance. The car wash is gone now, that pics a few years old. Its just overflow parking for the guy with the auto repair shop next door now and seldom used even though its paved.
[This message has been edited by rogergarrison (edited 04-08-2014).]
Roger what would have gone down if you told him to get out fo the car and lay on the ground, you call the cops and you both waited for the cops? Not saying the stuff was worth it, but if nothing gets reported or folks dont have consequences, nothing would change even for one person.
I have a feeling he would have ran for it if he knew cops were going to come. I think he realized he got off easy. It wasnt worth it to me to shoot at anything for a waterhose and bucket. The time I did hold some guys at gunpoint and called the cops, they took them to jail. There were bailed out by parents before I even got dressed and drove the block to the police station to fill out the report. They were minors so got off without anything.
$450k for your land? Just down the road is a lot of open land. You can keep hoping or cut your losses and find someone to sell it for you. But looking at commercial and residential property values around you.... you won't get appraised value. Most people don't get appraised values for their home or property.... it is what people will pay for it. I know our know that. In another thread you talk that you lose money on stuff and that you are wealthy... so if this is your retirement, you planned wrong. But I don't think that is the case. You have a RV and a place in Belieze and I think you are a pilot also...
As for selling my home for $10K, nope, I moved out before the decline and saved myself about 30%. People in Detroit said the same thing as you... yet the houses are practically free now. Same for a few other declining cities in MI. Location is king and if your area is declining, you wouldn't want to wait to sell.
quote
Originally posted by rogergarrison:
No I wont sell for 1/10th the appraisal...its part of my savings for retirement. Its zoned commercial so it has to be sold as commercial property. No one can live in it so it cant be a home if I move out (grandfathered). Would you sell your house for $10,000 ? Didnt you bother to read the other thread ? Sometime someone will need the land, almost 3 acres total. Thats where the value is, not the building that was built in the 60s. Maybe some black gang will buy it for their new hangout. My guess is the strip mall right next door will expand and have to buy it. Its either that or hope for a weather disaster to hit it and collect insurance. The car wash is gone now, that pics a few years old. Its just overflow parking for the guy with the auto repair shop next door now and seldom used even though its paved.
You know what Hudini is saying has the ring of truth to it. You might have to decide if there is any prospect of your property returning to any part of it's original value at all. There can come a time when you have to cut your losses. It would be a bummer if you lost your life to a crime ridden neighborhood while waiting for property values to return. With the RV, plane, and Belize property you have some really attractive options.
That was my reasoning with the Belize thing and the RV. I think it will come back up if any business picks up after the knucklehead gets out of office. Ill just have to play cowboys till then. This is right off the main intersection of the city...someone will want it sooner or later for a more reasonable price. Id take $180-200K. I think the Korean guy who owns the strip mall is a prime interest. Hes got nowhere else to go. 1/2 of it is already paved so that saves him $50K if he just wants a bigger parking lot. It would be great to even use the building and make it a bar, and change the current small bar into a shop for whatever. I have absolutely no interest in doing anything with it except get rid of it. Some people a few years ago only offered about $50K because thats all they had to put in a dog and cat rescue. They even tried to up their offer but found out from the city what they wanted couldnt get a permit for the location anyway. It was really nice here when I moved in. 2 lane road with only a few custom built houses along about a mile and one gas station on the corner. I could even leave cars unlocked or convertibles tops down overnite outside. The worse thing I had going on was people coming by just to hang out and I couldnt get anything done. Hard to chat with air compressor, grinders going. In the summer there were always 1 or 2 of the girls laying out back on the grass sunning. Now its the ghetto with all kinds of abandoned businesses around. I do know the week it is sold, the RV goes into indoor storage and Im staying at the island except for visits here where Ill stay in it wherever I happen to go. Might get to go to more big races in the summer and no more cold winters. The nice thing about down there is I can leave for a month with no locks and no one messes with anything. I did worry a bit about the plane setting there with all the supposed drug things. I dont see that much around there...some kids there like to wash it for a few bucks...every day if they could. The downside to flying around there is your either over water or jungle all the time. I really would like the cash from here to buy a nice big ocean going cabin cruiser like that old Chris Craft the two tv private eyes had they lived on. That would be sweet. My uncle from Key West came down once last summer with his 40' or 50', 2 mast sailboat. I think it would be fun to take tourists out diving or fishing all day.
if you got the money and can wait it out, the depression we are in, you will get a better price Roger, its all a matter of how long it takes for the economy to recover and how much worse the area you are in gets. problem is no one with money wants to pay a reasonable price for a home/place, they want a steal and have the money and time to wait you and I out. you and I and the rest of us poor folks need to be able to pay all the bills for our possessions. taxes, licensing and anything else related to owning things and rich people will always have the money to pay for that, if not they will lie cheat and steal from the rest of us to make sure they do for the most part.
Yup, Im going with the wait it out plan. Maybe the next presidential election will help. This guy is killing small businesses and not helping big ones either. I have enough as is to not be a problem. But getting rid of the taxes, upkeep, worry plus buying a BIG boat will be nicer. Its even nicer if Im down there more or less permanently. $100 is like $1000 or more down there and stretches what you have a lot more. My electric here even in summer with no AC is $50 a month. I havent had an electric bill down there yet over $5. Bananas, Guavas and cocoanuts grow in the yard for free. Guava jam on bread or crackers is awesome.
I have seen ads on TV. Looks like a nice place (based on the marketing). They would LOVE your money. I would be concerned about hospitals and other "life" services. Unless, of course you have a helicopter to fly you back to the US
Oh, I found they have a "retirement program"... Qualifying Process
Anyone forty-five years and older can qualify for the program. A person who qualifies can also include his or her dependents in the program. Dependents include spouses and children under the age of eighteen. However, it can include a person up to the age of twenty-three if enrolled in a university.
INCOME FROM PENSION OR OTHER SOURCE
1. Qualified Retired Persons To be designated a Qualified Retired Person under the program, applicants must receive a monthly income of not less than US $2,000 through a pension or annuity that has been generated outside of Belize.
2. Certification i) When a company grants a pension, that company has to prove that it has been in operation for at least 20 years by submitting proof of registration.
ii) The company that grants the pension shall certify that the pension of no less than US $2,000.00 per month will be forwarded to a reputable financial institution within Belize. This letter must be signed by the manager, president, or by a legal representative of the company.
iii) Certification by a Certified Public Accountant independent of the company:
Stating the date the company was established Verifying the authenticity of the above mentioned letter Certifying that the obligation signed in favor of the beneficiary is not less than US $2000.00 per month.
iv) The applicant must present two (2) bank references from the company that is sending the pension. ??v) The company granting the pension must present a document outlining its pension scheme.
Requirement ii, iii, iv could be omitted where the company sending the pension is considered to be a Fortune Five Hundred Company.
3. Background Check All applications are subject to a background check to be carried out by the Ministry of National Security.
[This message has been edited by jaskispyder (edited 04-09-2014).]
I get free care already, including prescriptions. I have my own plane, so I dont need a helicopter. I took it down there last summer. Its at a local airport that has limited airline service via prop plane. When I go down, I just fly commercial to Tegucigalpa and hop a local air taxi or take a ferry. Most of my funds are in a bank there. Im get SS too. All I keep here is the SS check and any odd jobs I do for living expenses. I have no need for their retirement program.
[This message has been edited by rogergarrison (edited 04-09-2014).]
I get free care already, including prescriptions. I have my own plane, so I dont need a helicopter. I took it down there last summer. Its at a local airport that has limited airline service via prop plane. When I go down, I just fly commercial to Tegucigalpa and hop a local air taxi or take a ferry. Most of my funds are in a bank there. Im get SS too. All I keep here is the SS check and any odd jobs I do for living expenses. I have no need for their retirement program.
I think you get VA health care, which is not honored there, correct? You would have to travel to the states, or use a local service and pay, correct?
For some reason, that retirement program is pushed. I wonder if they are trying to keep out the people with less money (they want retirees).
I think you get VA health care, which is not honored there, correct? You would have to travel to the states, or use a local service and pay, correct?
For some reason, that retirement program is pushed. I wonder if they are trying to keep out the people with less money (they want retirees).
Correct...but Ive never checked. I know you can get emergency care done and the VA will reinburse them, but dont know about outside the US. Ill have to remember to ask. I just got my annual physical a few weeks ago...Luckily I have only a few very minor problems and dont take any meds. I have to think if your a US citizen in a foreign country, you should be able to get the same care.
As far as local care, no hospital per se' on the island, but a doctor has a home office down the road from me. Im sure hes cheap enough to not matter.
[This message has been edited by rogergarrison (edited 04-09-2014).]
To my point of view against holding that property is that the value of the dollar is going to continue to tumble. Holding property in a declining area is a hard bet. Say that in 5 years, someone is ready to give you $100K. In 5 years, has milk doubled in price, has stock in your favorite 10 companies doubled? My guess today is that you would be better off holding an equity that will increase in value as fast of faster than inflation. I also would concern myself with the on going cost, minimum payment for power, water, and trash services. Here, they will put on your property tax bill basic trash collection service. You said before that the f-en county assessor would not revalue your property for tax purposes even tho it clearly has a market value of less than 50K. If you could, sell it to one of your kids for $10K, it gets reassessed, and rent it back from them until it sells at what you think is a fair price.
To my point of view against holding that property is that the value of the dollar is going to continue to tumble. Holding property in a declining area is a hard bet. Say that in 5 years, someone is ready to give you $100K. In 5 years, has milk doubled in price, has stock in your favorite 10 companies doubled? My guess today is that you would be better off holding an equity that will increase in value as fast of faster than inflation. I also would concern myself with the on going cost, minimum payment for power, water, and trash services. Here, they will put on your property tax bill basic trash collection service. You said before that the f-en county assessor would not revalue your property for tax purposes even tho it clearly has a market value of less than 50K. If you could, sell it to one of your kids for $10K, it gets reassessed, and rent it back from them until it sells at what you think is a fair price.
Yea, they dont want to re appraise anything because they lose more revenue. Ive thought about doing what you suggested before. You are correct that any assessment changes to a price you sell it for. The catch here, is that they call foul if you sell it for too much under its appraisal. Works the same with cars. Ive sold and bought a lot of cars the DMV sent me letters requesting paperwork to verify what I bought or sold a car for to make sure your not cheating them out of sales taxes. I got one and the dealer got one (friend) when I bought my Sebring. BBV was like $20K and I bought it for $5000. We both had to reply under penalty of perjury that I did pay $5000. If I sold it to a relative, it would look even fishier to them, so I didnt mess with it. They dont like these car deals where you sell your car to your brother for $1.
Yea, they dont want to re appraise anything because they lose more revenue. Ive thought about doing what you suggested before. You are correct that any assessment changes to a price you sell it for. The catch here, is that they call foul if you sell it for too much under its appraisal. Works the same with cars. Ive sold and bought a lot of cars the DMV sent me letters requesting paperwork to verify what I bought or sold a car for to make sure your not cheating them out of sales taxes. I got one and the dealer got one (friend) when I bought my Sebring. BBV was like $20K and I bought it for $5000. We both had to reply under penalty of perjury that I did pay $5000. If I sold it to a relative, it would look even fishier to them, so I didnt mess with it. They dont like these car deals where you sell your car to your brother for $1.
thats terrible in Florida you can put 1$ or gift no hassle
The nice thing about down there is I can leave for a month with no locks and no one messes with anything. I did worry a bit about the plane setting there with all the supposed drug things. I dont see that much around there...some kids there like to wash it for a few bucks...every day if they could. The downside to flying around there is your either over water or jungle all the time. I really would like the cash from here to buy a nice big ocean going cabin cruiser like that old Chris Craft the two tv private eyes had they lived on. That would be sweet. My uncle from Key West came down once last summer with his 40' or 50', 2 mast sailboat. I think it would be fun to take tourists out diving or fishing all day.
