Dear George,
I'm sure the pricing is all relative. That cornfield along the Delaware is worth about $ 300.00 - $ 500.00 an acre as a corn field. Five acre recreational lots at $ 89,000.00 seem like a bargain when compared to central NJ but you have no utilities and no services and you'd have $ 150,000.00 into it easy with a well and sand mound septic and electric service.
To give you an idea about the real value of real estate in upstate NY I sold a 10 year old 3 bedroom, 3 full bath finished walk-out basement ranch that was 12 years old in 2001. It had central a/c, an oversized 2 car garage, a stocked pond, and it was riverfront but out of the flood plain on the Susquehanna only 25 minutes from Deposit, NY. Editied to add - It sat on 6 acres. I got $ 86,000.00 for the house and it needed no work at all. That was $ 3000.00 less than I paid for it in 1997 but I had to sell it because I relocated for a job.
Dear cdog,
How about that house in Cedar Run, the stone and cedar one for $ 800,000.00 down from $ 895,000.00. It's right on the flood plain and has no gas service and no central a/c and it's 25 years old. You could build a nicer larger house for well under $ 200,000.00 turn key, I know because I've been in that house I know people who have rented it.
You're right though, someone will buy it and soon enough the Pine Creek Valley will be ruined by a Starbucks and a bagel shop and a beauty salon. When money get's it in it's head that it wants to ruin everything it always does, just look at the West Bronx, I mean Monroe County. :-D
Regards,
Tim Murphy 🙂
