09-28-2008, 06:03 AM
we have a beautiful lot up at mauna loa estates that we chose not to build on because of tax consequences regarding another property that we were going to sell. we would have either had to sell that property and pay the capital gains tax or do a "like kind exchange" that would not work in our favor. in today's market, we would not qualify for a construction loan that would be enough to build our dream home on this lot.
therefore, we are making an offer on a property that was built in 2004 by a retired contractor. he obviously took pride in the construction. there is no way one could build this same house for the amount he's asking in today's market. or i should say, for what we are willing to pay.
the inventory for new to newer homes or ones that are less than 5 years old, are bountiful for whatever reasons. we were watching 2 properties that dropped 19k dollars in less than 2 weeks and are still on the market--brand new homes.
i would say then, if you are able to build your dream home on your beautiful lot--go for it! if not, there are homes that with little to some improvement, that would work into your plans. the one we made an offer on has everything we want except an improved street.
"chaos reigns within.
reflect, repent and reboot.
order shall return."
microsoft error message with haiku poetry
therefore, we are making an offer on a property that was built in 2004 by a retired contractor. he obviously took pride in the construction. there is no way one could build this same house for the amount he's asking in today's market. or i should say, for what we are willing to pay.
the inventory for new to newer homes or ones that are less than 5 years old, are bountiful for whatever reasons. we were watching 2 properties that dropped 19k dollars in less than 2 weeks and are still on the market--brand new homes.
i would say then, if you are able to build your dream home on your beautiful lot--go for it! if not, there are homes that with little to some improvement, that would work into your plans. the one we made an offer on has everything we want except an improved street.
"chaos reigns within.
reflect, repent and reboot.
order shall return."
microsoft error message with haiku poetry
"a great many people think they are thinking when they are merely rearranging their prejudices."
w. james
w. james