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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: London Brian who wrote (46687)	1/5/2006 3:37:26 PM
From: Hank	Respond to of 306849

"Do you see the same problems?" No. As a matter of fact, part of our estate originally included a large piece of non-waterfront woodland on Long Island that we subdivided into building lots. It was up to the land purchaser to select a contractor and deal with the rest. We invested the money from that to create an investment fund that generates enough money to pay for the upkeep and taxes on the waterfront property.

To: London Brian who wrote (46687)	1/5/2006 4:16:12 PM
From: BWAC	Read Replies (1) \| Respond to of 306849

<It seems like builders/developers have greased(bribed) the local planning comission and council members with campaign contributions and perks and can work a development through the system. An individual will get hit with added fees for street improvements, undergrounding utilities, and such while the connected builder will get fees waived and the zoning density increased.> You left out my personal favorite. An "impact fee" of say $4,000 per lot for Farmer Ted to pay up front, prior to subdiv approval. 100 acres/.33 lot size/300 lots/$1.2 million cashola Farmer Ted doesn't have on hand. But big national builder has in pocket change. So Mr. Big gets Farmer Ted's land on the cheap (due to lack of capital and/or access to it). And then Mr. Big doubles the density and causes the city/county twice the "impact" headache in 1/10th the time it would have taken Farmer Ted to build it all out himself. Why oh why the city/county bitches and moans so much over turning 100 acres of property taxed at a $600,000 agricultural use base into 300 lots plus houses taxed at a $60+ Million base, I'll never understand. Ever been told to build a pond for the fire department water source as a prerequisite?