Greetings!
It's a beautiful, sunny and crisp morning in northern Wisconsin and the colors are terrific; we had a pretty hard frost in town last night.
Several folks have asked how things are going in our market so Chris (my colleague in the office) provided some quick “lake home” statistics.
- Sawyer County has had 122 lake home sales (condos and single family) over the past 12 months (10/2/07 – 10/2/08).
- The average sale price was $336,884 (93% of list price).
- The previous 12 months (10/2/06 – 10/2/07) we had 151 sales with an average sale price of $328,262 (94% of list).
- The number of units sold is down 19% and the average price is up 2.6% although the % of sale price/list price went down by a point.
This information is according to the local Multiple Listing Service so it provides pretty good data for properties that are listed on the MLS. Of course, there are sales occurring that aren't. The positive side of me sees this news from the perspective that average price and sale price to list price is holding pretty steady. In spite of all the bad news, this has been a very good year for many of us!
This weekend is Cranberry Festival in Stone Lake and Apple Fest in Bayfield so come on up and enjoy the fall colors and fun.
Life is Good…..Enjoy!
Gary A. Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad Street, Hayward, WI 54843
715-699-4040 Cell
715-634-2110 Office
715-634-2884 Fax
nathan@cheqnet.net
www.garynathan.com
www.haywardwaterfront.com
Friday, October 03, 2008
Thursday, September 11, 2008
I WANT TO SELL MY REAL ESTATE NOW!!
Times are tough but real estate is still selling; yes there are buyers out there but they are much pickier and somewhat spooked with what is going on in the housing market.
What do you need to do to help sell your property? I have some tips that may help you achieve success sooner than later.
1. Be realistic and price your property right the first time, this is a challenging market period! Sure we all want to get top dollar and not leave any money on the table but not selling early into the process means higher holding costs including real estate taxes, insurance, utilities, interest and upkeep. From my experience I recommend that you secure both a market analysis from your realtor and an independent third-party appraisal. Price the property no higher than 5% above the top value or no higher than 10% above the two blended values. Listen to the experts.
2. The first Offer is typically the best; work with that Buyer to get the deal done and don’t take too much time in replying to the Offer. Keep it simple and don’t muddy the waters with little details like who gets the microwave, the bench in the front hall or who pays what for the safe water test. Personal property pettiness often kills deals, don’t lose track of the BIG PICTURE.
3. Stage the property right from the get go; clean up your property whether it is a vacant lot or your million-dollar-home. Get rid of the clutter inside and out and update even if it means trashing your velvet curtains and changing the orange countertop to granite. I have always believed it takes spending some money to make money and getting your real estate ready is no different than running a business. Paint the front door, trade out the vinyl for tile or wood flooring and please get rid of the PETS….well at least during the showing! Clean it up, Spiff it up and give it that “Pottery Barn Look”.
4. Understand Buyers; most don’t want a project. SEE THE PARAGRAPH ABOVE. Most Buyers want to walk in, throw a log on the fire and put their feet up. Believe me there are not a lot of do-it-yourselfers out there and they expect your house to look like the “HGTV” finished house not “This Old House” project. Take away all the negatives you can; if a Buyer likes what he or she sees it will cut down on the negotiating.
There are no guarantees but I can tell you that if you don’t pay attention to the above you had best put yourself in “patient” mode and be ready to adjust your price down as your property gets stale from market exposure.
This weekend we are expecting 2500 riders in the Chequamegon Fat Tire Race. Next Saturday is the Birkie Trail Run and Trek (we are a sponsor) and don’t forget about Fall Fest next weekend as well! Plus the Hayward Library Fall Century Bike Tour is on Sunday, the 21st.
Life is Good….Enjoy!
Gary Nathan
Woodland Dev. Realty
What do you need to do to help sell your property? I have some tips that may help you achieve success sooner than later.
1. Be realistic and price your property right the first time, this is a challenging market period! Sure we all want to get top dollar and not leave any money on the table but not selling early into the process means higher holding costs including real estate taxes, insurance, utilities, interest and upkeep. From my experience I recommend that you secure both a market analysis from your realtor and an independent third-party appraisal. Price the property no higher than 5% above the top value or no higher than 10% above the two blended values. Listen to the experts.
2. The first Offer is typically the best; work with that Buyer to get the deal done and don’t take too much time in replying to the Offer. Keep it simple and don’t muddy the waters with little details like who gets the microwave, the bench in the front hall or who pays what for the safe water test. Personal property pettiness often kills deals, don’t lose track of the BIG PICTURE.
3. Stage the property right from the get go; clean up your property whether it is a vacant lot or your million-dollar-home. Get rid of the clutter inside and out and update even if it means trashing your velvet curtains and changing the orange countertop to granite. I have always believed it takes spending some money to make money and getting your real estate ready is no different than running a business. Paint the front door, trade out the vinyl for tile or wood flooring and please get rid of the PETS….well at least during the showing! Clean it up, Spiff it up and give it that “Pottery Barn Look”.
4. Understand Buyers; most don’t want a project. SEE THE PARAGRAPH ABOVE. Most Buyers want to walk in, throw a log on the fire and put their feet up. Believe me there are not a lot of do-it-yourselfers out there and they expect your house to look like the “HGTV” finished house not “This Old House” project. Take away all the negatives you can; if a Buyer likes what he or she sees it will cut down on the negotiating.
There are no guarantees but I can tell you that if you don’t pay attention to the above you had best put yourself in “patient” mode and be ready to adjust your price down as your property gets stale from market exposure.
This weekend we are expecting 2500 riders in the Chequamegon Fat Tire Race. Next Saturday is the Birkie Trail Run and Trek (we are a sponsor) and don’t forget about Fall Fest next weekend as well! Plus the Hayward Library Fall Century Bike Tour is on Sunday, the 21st.
Life is Good….Enjoy!
Gary Nathan
Woodland Dev. Realty
Friday, September 05, 2008
Information Overload? We're here to help!
Buyers and Sellers of real estate certainly have great opportunities and advantages in buying and selling real estate as compared to just a few years ago. The amount of information via the Internet on homes and other properties is plentiful, in fact seemingly infinite. The information is free and easy to access but searching through all of it can be pretty time consuming.
My work is much easier from the perspective of instant access but the amount of information is "overload". Buyers tend to agree that sifting through all the property data available on the Web can be quite daunting. Despite all the properties and information available there is much that you can't know or find out when surfing the sites. For example, you rarely know what the neighborhood is like, or the house on either side or you, or the "real" elevation of the lake lot. And how about the condition of the lakebed at the shoreline, mucky, sandy or what; until you take your shoes off and get your toes wet you really don't know. And "those realtors" are really good at taking just the "right angle" when it comes to pictures.
The Web is wonderful but until you actually walk on the property and see it, all the data in the world usually does not do a property justice. That's why real estate is such fun because we get the opportunity to help buyers find out "the real details" in their search for properties. In the future there will be more technology that will enable consumers to access even more data. Perhaps virtual tours will become "virtual experiences" and you will actually be able to feel the sand between your toes; now that would be progress!
So, happy wandering on the web. If you'd like some direction in your search, give us a call & we'll help you in any way we can!
This weekend is the Chippewa Flowage Musky Hunt and next weekend is the Chequamegon Fat Tire Festival so come on up and enjoy.
The weather today is sunny, dry, warm and wonderful.....Life is Good.....Enjoy!
Gary A. Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad Street, Hayward, WI 54843
715-699-4040
Cell715-634-2110
FAX 715-634-2884
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
http://www.haywardwaterfront.com/
Friday, August 29, 2008
Foreclosures & Ribs!
My work in real estate has been a real joy. For the most part, the sale of each property results in happy sellers and buyers; a win-win scenario!
But more recently I have had the difficult task of helping some homeowners through near foreclosure of their homes. These are not folks who were buying on spec to churn prperty or making poor decisions. For various reasons, they found themselves in a predicament none of us would choose to be in. It was a mind-expanding experience for me and I consider it a privilege to have been involved, albeit not what any of us would wish for.
Luckily we were able to work through the issues and avoid the loss of their homes. Working with owners whose loan is delinquent and facing foreclosure and whose loan service is nowhere to be found is daunting. Those involved easily feel helpless and hopeless.
But there is help through a coalition called HOPE NOW ALLIANCE. The Wisconsin Housing and Economic Development Authority (WHEDA) has partnered with 19 housing counseling agency locations along with lenders, investors, trade associations and others to help track down the loan servicer and explore options for the homeowner forcing foreclosure to hopefully find a solution.
If you know someone that needs help, please encourage them to contact their local non-profit counseling agency at: http://www.wisconsinforeclosureresource.com/cc.asp
On a more positive note: Don't forget that this weekend is the Rib & Brew Fest in Hayward. The weather forecast is: "another Chamber of Commerce weekend"! Come on up and see us!
Life Is Good...Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
Hayward, WI
715-699- 4040
nathan@cheqnet.net
http://www.garynathan.com
http://www.haywardwaterfront.com
But more recently I have had the difficult task of helping some homeowners through near foreclosure of their homes. These are not folks who were buying on spec to churn prperty or making poor decisions. For various reasons, they found themselves in a predicament none of us would choose to be in. It was a mind-expanding experience for me and I consider it a privilege to have been involved, albeit not what any of us would wish for.
Luckily we were able to work through the issues and avoid the loss of their homes. Working with owners whose loan is delinquent and facing foreclosure and whose loan service is nowhere to be found is daunting. Those involved easily feel helpless and hopeless.
But there is help through a coalition called HOPE NOW ALLIANCE. The Wisconsin Housing and Economic Development Authority (WHEDA) has partnered with 19 housing counseling agency locations along with lenders, investors, trade associations and others to help track down the loan servicer and explore options for the homeowner forcing foreclosure to hopefully find a solution.
If you know someone that needs help, please encourage them to contact their local non-profit counseling agency at: http://www.wisconsinforeclosureresource.com/cc.asp
On a more positive note: Don't forget that this weekend is the Rib & Brew Fest in Hayward. The weather forecast is: "another Chamber of Commerce weekend"! Come on up and see us!
Life Is Good...Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
Hayward, WI
715-699- 4040
nathan@cheqnet.net
http://www.garynathan.com
http://www.haywardwaterfront.com
Friday, August 22, 2008
Lake Turnover?
Not long ago someone asked me about Lake Turnover and quite honestly I did not have a good scientific answer for them. However there was a very good article in our Grindstone Lake Association newsletter which explains this affect in language that even I can understand. I have taken the liberty to paraphrase some of what was written.
Essentially “Turnover” is the term used to describe the mixing of the contents of the entire lake.
Reminds me of my stomach after dinner last night! Not long after ice-out, in early spring, winds create the wave action needed for considerable turbulence all the way to the bottom of the lake. At that time of year the water temperature and the water density is fairly uniform throughout the lake making it easier for the mixing to happen.
As springtime progresses and the spring winds decrease, (well, most of the time!) the sun’s radiation eventually causes the surface water of the lake to become significantly warmer (and less dense) as compared to the deeper water. The point where the temperature difference between the warmer and colder water is greatest is called the “thermocline”. Now there’s a word to put into your everyday vocabulary!
In many lakes, the thermocline is between 10 to 20 feet below the surface of the lake. Because of the density difference between cold and warm water, the thermocline acts like a barrier to prevent further mixing of the lake’s water.
As we approach fall the surface water cools to the point where its temperature and density once again is similar to the waters below resulting in the same mixing process that occurred in the spring. And yes we are beginning to see signs of fall and cooling, sunsets are much earlier!
Water is most dense at around 39 degrees Fahrenheit; because of this the lake water in the winter is actually warmer at the bottom of the lake as compared to the water immediately below the surface of the ice which is just above 32 degrees Fahrenheit. Essentially the warmer water of the lake shifts to the bottom in the winter and to the top in the summer. And there you have it!
Local News: Don’t forget that the Seeley Lions Club is hosting the Pre-Fat off road bicycle race this weekend and Rib and Brew Fest is next weekend. Come up and take in the fun!
Life is good….Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
Hayward, WI
715-699-4040
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Essentially “Turnover” is the term used to describe the mixing of the contents of the entire lake.
Reminds me of my stomach after dinner last night! Not long after ice-out, in early spring, winds create the wave action needed for considerable turbulence all the way to the bottom of the lake. At that time of year the water temperature and the water density is fairly uniform throughout the lake making it easier for the mixing to happen.
As springtime progresses and the spring winds decrease, (well, most of the time!) the sun’s radiation eventually causes the surface water of the lake to become significantly warmer (and less dense) as compared to the deeper water. The point where the temperature difference between the warmer and colder water is greatest is called the “thermocline”. Now there’s a word to put into your everyday vocabulary!
In many lakes, the thermocline is between 10 to 20 feet below the surface of the lake. Because of the density difference between cold and warm water, the thermocline acts like a barrier to prevent further mixing of the lake’s water.
As we approach fall the surface water cools to the point where its temperature and density once again is similar to the waters below resulting in the same mixing process that occurred in the spring. And yes we are beginning to see signs of fall and cooling, sunsets are much earlier!
Water is most dense at around 39 degrees Fahrenheit; because of this the lake water in the winter is actually warmer at the bottom of the lake as compared to the water immediately below the surface of the ice which is just above 32 degrees Fahrenheit. Essentially the warmer water of the lake shifts to the bottom in the winter and to the top in the summer. And there you have it!
Local News: Don’t forget that the Seeley Lions Club is hosting the Pre-Fat off road bicycle race this weekend and Rib and Brew Fest is next weekend. Come up and take in the fun!
Life is good….Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
Hayward, WI
715-699-4040
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Thursday, August 07, 2008
Market Timing
RISMedia, a real estate news source, recently reported that at the top of the most frequently asked questions list is, “How will we know when the market has bottomed out and we should buy a home”? We have experienced that question many times and I concur it is on the front of most buyer brain lobes. Buyers want to buy right at the bottom; who wouldn’t?
The answer does not appear to be all that difficult and I agree with the report in that there are two major factors that one should consider and watch. When you see an increase in listed sales and sold prices and a decline in inventory you can be reasonably sure we have hit bottom, right?
Nationally it appears we have started to see a decline in listing volume; it is however much more difficult to gauge the sold price data. Sale prices will be affected by some of the discounted foreclosure sales; hence lower average prices.
Locally we have been far less affected by foreclosures but inventory remains high compared to three years ago. Buyers still have, in my opinion, a great deal of opportunity because of listed volume and interest rates that continue to be historically low. That all could change if rates increase and inventories shrink.
Personally I was never any good at stock market timing, too many variables! Timing the real estate market isn’t that easy. It's made up of more than inventories, sales prices and sales volume. The overall economy and other factors such as buyer confidence, location, population growth, job growth and more, has an affect on the real estate market. Oh, and don’t forget about the fact that this is an election year. What’s your opinion; I’d like to hear from you?
On the home front - we've had just outstanding summer weather. Each morning when I leave the lake to go to work I wonder why? Go back to the beginning of the above paragraph….I never was good at market timing, hence I work. Thank God I am able!
Life is Good…..Enjoy!
Gary Nathan
cell 715.699.4040
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
The answer does not appear to be all that difficult and I agree with the report in that there are two major factors that one should consider and watch. When you see an increase in listed sales and sold prices and a decline in inventory you can be reasonably sure we have hit bottom, right?
Nationally it appears we have started to see a decline in listing volume; it is however much more difficult to gauge the sold price data. Sale prices will be affected by some of the discounted foreclosure sales; hence lower average prices.
Locally we have been far less affected by foreclosures but inventory remains high compared to three years ago. Buyers still have, in my opinion, a great deal of opportunity because of listed volume and interest rates that continue to be historically low. That all could change if rates increase and inventories shrink.
Personally I was never any good at stock market timing, too many variables! Timing the real estate market isn’t that easy. It's made up of more than inventories, sales prices and sales volume. The overall economy and other factors such as buyer confidence, location, population growth, job growth and more, has an affect on the real estate market. Oh, and don’t forget about the fact that this is an election year. What’s your opinion; I’d like to hear from you?
On the home front - we've had just outstanding summer weather. Each morning when I leave the lake to go to work I wonder why? Go back to the beginning of the above paragraph….I never was good at market timing, hence I work. Thank God I am able!
Life is Good…..Enjoy!
Gary Nathan
cell 715.699.4040
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
Friday, August 01, 2008
Housing Stimulus
Greetings from sunny, warm Hayward!
President Bush just signed into law the Housing and Economic Recovery Act of 2008. This is a major action that certainly affects consumers, REALTORS®, and our nation. As a result homebuyers will soon have access to more affordable financing, and first-time homebuyers (those who have not owned a home for three years) will receive a tax-credit to help them enter the market. Some may say "too little too late" but I believe we needed the action.
H.R. 3221, the “Housing and Economic Recovery Act of 2008 signed the bill on July 30, 2008. The bill includes the following provisions:
- GSE Reform – including a strong independent regulator, and permanent conforming loan limits up to the greater of $417,000 or 115% local area median home price, capped at $625,500.
- FHA Reform – including permanent FHA loan limits at the greater of $271,050 or 115% of local area median home price, capped at $625,500; streamlined processing for FHA condos; reforms to the HECM program, and reforms to the FHA manufactured housing program.
- Homebuyer Tax Credit - a $7500 tax credit that would be would be available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest-free loan).
- FHA foreclosure rescue – development of a refinance program for homebuyers with problematic subprime loans.
- Seller-funded downpayment assistance programs VA loan limits – temporarily increases the VA home loan guarantee loan limits to the same level as the Economic Stimulus limits through December 31, 2008.
- Risk-based pricing – puts a moratorium on FHA using risk-based pricing for one year.
- GSE Stabilization – includes language proposed by the Treasury Department to authorize Treasury to make loans to and buy stock from the GSEs to make sure that Freddie Mac and Fannie Mae could not fail.
- Mortgage Revenue Bond Authority – authorizes $10 billion in mortgage revenue bonds for refinancing subprime mortgages.
- National Affordable Housing Trust Fund – Develops a Trust Fund funded by a percentage of profits from the GSEs.
- CDBG Funding – Provides $4 billion in neighborhood revitalization funds for communities to purchase foreclosed homes.
- LIHTC – Modernizes the Low Income Housing Tax Credit program to make it more efficient.
Loan Originator Requirements – Strengthens the existing state-run nationwide mortgage originator licensing and registration system and requires a parallel HUD system for states that fail to participate.
For more information, visit http://www.realtor.org/governmentaffairs.
The weather has been superb and Sawyer County has been buzzing with tourists and second home owners. Come on up and see us! Enjoy.....Life is Good!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
Hayward, WI
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
President Bush just signed into law the Housing and Economic Recovery Act of 2008. This is a major action that certainly affects consumers, REALTORS®, and our nation. As a result homebuyers will soon have access to more affordable financing, and first-time homebuyers (those who have not owned a home for three years) will receive a tax-credit to help them enter the market. Some may say "too little too late" but I believe we needed the action.
H.R. 3221, the “Housing and Economic Recovery Act of 2008 signed the bill on July 30, 2008. The bill includes the following provisions:
- GSE Reform – including a strong independent regulator, and permanent conforming loan limits up to the greater of $417,000 or 115% local area median home price, capped at $625,500.
- FHA Reform – including permanent FHA loan limits at the greater of $271,050 or 115% of local area median home price, capped at $625,500; streamlined processing for FHA condos; reforms to the HECM program, and reforms to the FHA manufactured housing program.
- Homebuyer Tax Credit - a $7500 tax credit that would be would be available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest-free loan).
- FHA foreclosure rescue – development of a refinance program for homebuyers with problematic subprime loans.
- Seller-funded downpayment assistance programs VA loan limits – temporarily increases the VA home loan guarantee loan limits to the same level as the Economic Stimulus limits through December 31, 2008.
- Risk-based pricing – puts a moratorium on FHA using risk-based pricing for one year.
- GSE Stabilization – includes language proposed by the Treasury Department to authorize Treasury to make loans to and buy stock from the GSEs to make sure that Freddie Mac and Fannie Mae could not fail.
- Mortgage Revenue Bond Authority – authorizes $10 billion in mortgage revenue bonds for refinancing subprime mortgages.
- National Affordable Housing Trust Fund – Develops a Trust Fund funded by a percentage of profits from the GSEs.
- CDBG Funding – Provides $4 billion in neighborhood revitalization funds for communities to purchase foreclosed homes.
- LIHTC – Modernizes the Low Income Housing Tax Credit program to make it more efficient.
Loan Originator Requirements – Strengthens the existing state-run nationwide mortgage originator licensing and registration system and requires a parallel HUD system for states that fail to participate.
For more information, visit http://www.realtor.org/governmentaffairs.
The weather has been superb and Sawyer County has been buzzing with tourists and second home owners. Come on up and see us! Enjoy.....Life is Good!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
Hayward, WI
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Wednesday, June 25, 2008
Sunset on Grindstone Lake!
In my last Blog I wrote that this has been a very busy quarter. Well, it has continued and for that we are most thankful.To take a break, weather permitting, we try to get out on the lake. This past week Shari & I had the pleasure of watching a spectacular sunset from the middle of the lake. Sunsets along with wonderful sunrises are special times for us; it’s what so many people are looking for when they search for their “escape cabin” in the Hayward area. We feel truly blessed to have the opportunity to work and live where we can enjoy such beauty. We wish the same for you!
Come on up and enjoy all that the area has to offer. If you need an events calendar just let me know and I will email, mail or fax you a copy. Life is Good…..Enjoy!
Friday, June 06, 2008
Blessing and Curse
The past few weeks have been both a blessing and a curse; mostly a blessing. Forgive me for not blogging for two weeks; actually that is probably a blessing. It has been the busiest month I can remember in my years of real estate.
Now before you quit reading I promise to keep this short; it's Friday and I want to actually leave by 5:00 pm for the first day in I don't know how long...that would be a curse.
There is a bunch of action; not just people looking but people buying....yes buying despite all the stuff you hear otherwise. I'm not one to boast but I must tell you that this past quarter will probably be a record for us; that would be a blessing.
For those of you who are kind enough to list your property with us and have not received an Offer to Purchase this week I sincerely apologize. BUT, keep the faith because Hayward real estate continues to sell and why not? This is the greatest place in the world to live and we invite you to come and see us....soon!
More blessings than curses! Life is Good....Enjoy!
My boat is in and the lake beckons.
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
Now before you quit reading I promise to keep this short; it's Friday and I want to actually leave by 5:00 pm for the first day in I don't know how long...that would be a curse.
There is a bunch of action; not just people looking but people buying....yes buying despite all the stuff you hear otherwise. I'm not one to boast but I must tell you that this past quarter will probably be a record for us; that would be a blessing.
For those of you who are kind enough to list your property with us and have not received an Offer to Purchase this week I sincerely apologize. BUT, keep the faith because Hayward real estate continues to sell and why not? This is the greatest place in the world to live and we invite you to come and see us....soon!
More blessings than curses! Life is Good....Enjoy!
My boat is in and the lake beckons.
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
Thursday, May 15, 2008
The Barn...
This is a great story we found circulating on the Internet.
A recently retired New York man wanted to use his retirement funds wisely, decided to buy a home and a few acres in Portugal . The modest farmhouse had been vacant for 15 years; the owner and wife both had died, and there were no heirs. The estate was being sold to pay back taxes.
There had been several lookers, but the large barn had steel doors, and they had been welded shut. No one wanted to go to the extra expense to see what was in the barn, and it wasn't complimentary to the property anyway... so, no one made an offer on the place.
The New York gentleman bought it as is, paying just over half of the property's worth; moved in, and set about to access the barn... curiosity was killing him. So, he and his wife bought a generator and a couple of grinders... and cut thru the welds. What was in the barn...?
A recently retired New York man wanted to use his retirement funds wisely, decided to buy a home and a few acres in Portugal . The modest farmhouse had been vacant for 15 years; the owner and wife both had died, and there were no heirs. The estate was being sold to pay back taxes.
There had been several lookers, but the large barn had steel doors, and they had been welded shut. No one wanted to go to the extra expense to see what was in the barn, and it wasn't complimentary to the property anyway... so, no one made an offer on the place.
The New York gentleman bought it as is, paying just over half of the property's worth; moved in, and set about to access the barn... curiosity was killing him. So, he and his wife bought a generator and a couple of grinders... and cut thru the welds. What was in the barn...?
The doors were welded shut, but a grinder took care of that.
A warehouse full of vintage high performance cars!!!
Aston Martin, Opel GT, Lotus Elan FHC, Lotus Super Seven Series IV, Lotus Elan DHC, Porsche 356, Austin Healey Sprite MkII, Volvo PV 544, Ford Y, Giulietta Sprint, Giulia Sprint Speciale (SS), Nash Metropolitan, Alfa Giulietta, Lotus Europa, another Lotus Elan FHC, Matra Djet, Lancia Flaminia Coupé, BMW V8, Formula racers, Chryslers, Mercedes, Austin A30, Formula racers, Chryslers, Mercedes, Austin A30… and the list goes on.Amazing…
Total value of all vehicles… over 35 Million!
The man and his wife had full title to the complete lot of vehicles. They're having a great retirement!
So you see real estate really is a good investment....sometimes a "great" investment.
Life is Good. Enjoy!
Gary Nathan & Amanda Mavis
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