Cabin Names

[Teri C.]

The first cabin I saw when looking last weekend had this sign. It cracked me up so I thought you guys would definitely get a kick out of it.

 

[Teri C.]

I realize the guy's name is probably Cooter but around here cooter is a common name for a female part.

 

[Bob G.]

Teri,



I've heard lots of names for lots of things, but that is a new for me!!! Gee, I wonder which part that is....LOL



Bob G.

 

[TrepMan]

Bob - I can tell you are DEFINETLY NOT from the SOUTH!!! Cooter, just ROTFLMAO saying it!! LOL

 

[Scott Hammer TOXIC]

Hey now, let's not forget Cooter from the Dukes of Hazard!! He has a garage not too far from me (why -o- why couldn't it have been Daisy). Also has one of the General Lees (the Dukes car). Not that I watched that show mind you.



Teri, I've been thinkin about your cabin situation....I would buy the waterfront lot. As a matter of fact, I would buy as much waterfront lot as I could, even if it took the $$ that you were going to use to build the cabin. Then, I would use the lot and build when I could. JMHO.....



TOXIC

 

[Bob G.]

Trep,



Does it show THAT much that I'm not from the south?? And you blend in well? LOL



Bob G.

 

[Teri C.]

Toxic, the other lots are not waterfront. You can not build on this lake because it is surrounded by Hoosier National Forrest. I am thinking of buying a lot that backs up to the forrest so no one can ever build behind me and I can walk thru the forrest to the lake. Waterfront land here is too expensive for my pocket.

 

[Scott Hammer TOXIC]

So they are just "closer" to the water and the forrest? I would make sure that you get enough land that you have a "buffer" around you fron=m neighbors/development. Where you gonna keep the bananna boat? Are there any lakes with lakefront properties? Just a side note.....IMHO (you guys know I close Banks and S&L's), I think real estate is in for an "adjustment" nationwide here real soon. Prices have been on the upswing for too long. Just like the stock market, things are gonna change!! Mark my words. I'm looking at lakefront around Anna but I am waiting a bit since I have a gut feeling real estate will be going into the crapper here in the near future.



TOXIC

 

[Teri C.]

Toxic, what makes you think real estate is going to get cheaper? The interest rates are climbing right now and I read an article yesterday saying they are going to keep going up. As far as the land, it is divided into 1 acre chunks and most of the land along the forrest is sold. $24,900 per acre. Kind of steep if you ask me.

 

[Scott Hammer TOXIC]

Stop and think....higher interest rates makes 2 things happen, 1-Fewer people buy because the cost of $$ has gone up (interest rates). 2-Real Estate prices drop to entice people to go out and borrow at higher rates. If $$ is cheap, everybody can afford to buy (sellers market), when $$ gets expensive via higer interest rates, buyers dry up and it becomes harder to get loans and takes away more disposable income for payments so you get a buyers market and prices will drop to compete for those few buyers. Believe me, no market segment is isolated from exposure to this (commercial, residential, rental, vacation, etc) Now from my employment point of view....when interest rates go up and banks have all of these low interest long term loans on their books that don't make them any money (interest income) and people start to default (because the rise in interest rates will trigger other economic factors) and they have to liquidate the real estate (that is collateral) in a buyers market, they lose $$ which, if they lose too much, will push them over the line and I will show up at their door. Clear as mud?? I could ramble for hours on economic indicators that all come into play (gnp, hard goods orders, unemp., etc.) but suffice to say our economy is extreemly complicated and affected by a lot of things....that's why I rely on my 18 years of doing this somewhat nasty job and my gut. I haven't been wrong yet. It's all about economic cycles. And you thought economics was b-o-r-i-n-g!! Greenspan is though....LOL



TOXIC

 

[Teri C.]

I, too, prefer the lower interest rates. That's why I kind of want to buy now.

 

[David Hunt]

Teri,



Toxic may be right or wrong, but it you like the cabin and you want to do it and you will use it, then by all means go do it! I paid about 12,500 per acre for my land and if I have to sit through a cycle, then I will. As the waterfront around me gets cut up and sold someday, my land will only become more valuable. In my experience of owning waterfront in various places in the US and abroad, I have only seen the prices go up.



If Toxic is correct, then I just hunker down and enjoy what I have.



david.....

 

[Scott Hammer TOXIC]

Problem with that is that you are buying at inflated prices and run the risk of it losing value after you buy. Believe me, if you are ready to buy do it. Predicting this stuff is tough.



TOXIC

 

[Jim B]

wow an acre of land for 24k? in my part of the country an acre of buildable land you talking closer to 75k. if its in a desirable area it shoots to well over 100k.

 

[David Hunt]

If it is an investment and you can sit on it, then you should be ok. If you are purchasing with the expectation that you will need the money at a certain time in the near future, then you may want to put the money in a different vehicle. However, looking at all the fun toys that Teri has, I think she knows what she is doing.



The field behind my house in Maryland will probably go for 100K per quarter acre!



david.....

 

[Scott Hammer TOXIC]

Easy folks, that's the problem with opening your mouth about peoples investments......It is very personal. Like I said, there is no right or wrong thing to do but some people would freak if their property lost 1/4 of it's value in a year (like some 401K's and stock portfolios..lol). If you are buying to hold then you pay whet the market is at the time you want to buy. If you have the ability to buy in a down market, it makes your paper numbers look good and gives you that warm fuzzy to watch it appreciate.



David, I hesitated to include the DC area (DC,MD,VA)because there is no such thing as a down market here. We traditionally do not follow the national economic trend due to the overpowering government presence.My home in VA is a good example. I bought in the boonies so that I could stay away from development 10 years ago. Well, it has slowly been catching up and the good side is that my house has tripled in value in those 10 years. The downside is I have a lot more to deal with in commute, taxes, etc. Your lake purchase is exposed but like you said, if you are holding, you can, and will, go through ups and downs. It's like my financial planner tells me about my investments..."You don't lose a dime till you cash them out".



TOXIC

 

[David Hunt]

No problem Toxic. I'm not up in ire or anything. By the way - check your earthlink email. I sent a note earlier today.



david...

 

[Scott Hammer TOXIC]

Will do as soon as I get home. Didn't imply you were mad, also didn't want to imply you made a bad buy!! I don't know the details so I would never make an open-ended comment on your purchase. Real Estate has been a good investment....that scares me!!



TOXIC

 

[David Hunt]

a man (or woman) ain't nothin if he don't got land...

 

[Scott Hammer TOXIC]

Amen to that brother!!



TOXIC

ok, now what movie was that from?

 

[David Hunt]

Brother, where art thou?