The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Live2Sail who wrote (46399)	12/31/2005 9:56:22 AM
From: Cage Rattler	of 306849

I visit the lake area just south of Burlington (Ferrisburg) quite often. Perhaps I'm exaggerating, but as I recall, most lakeside homes started at about $3/4-million and went up from there. It seems that those nice old summer places are highly valued because they are grandfathered. They can be updated to the nines without adherence to all the restrictions that might apply to new construction. Of course, most of those older places have been scooped up by builders for spec renovation. About three years ago a friend showed me one or two lots on the lake that were for sale -- down by the less-desirable Port Henry Bridge. Those lots were relatively inexpensive at $35K -- but cheaper for a reason -- the shore was infested with tiger mussels. Frankly, I see no way to bring those damned things under control and the milfoil infestation seems to be a lost cause as well. Yep, I graduated from Middlebury. If you are familiar with the area, then you know why I might prefer the backside of the mountains -- Mad River area, etc. Frankly, I find the "Gold Coast" a bit pretentious and more than a few of the residents obnoxious; let me add that I'm not a "granola." Admittedly, Burlington does offer employment beyond dairy farming and good public schooling. Probably the best real-property bargains in New England is in inland Maine – if you can survive the native culture. :^) :^)

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