Head Property

[bobs]

Results:

1-$12666 Dignam Properties
2-$12300 Pat Cloutier

10 or so bids in total

[MELRAY]

Just got back. It seems I under bid again, or did I? Property assessed at 11 grand. Nice area, tonnes of crown and water ways. Was hoping to build my dream fishing camp. Well the hunt continues. I understand the fellow next door who owns both strips of land along each side of the road was top bidder. At least he can put a driveway in where he wants.

[bobs]

I agree, bid was higher then I expected.  Top bidder was Dignam properties.  They are a firm that buys and sells property, from what I have seen, always vacant and in the middle of nowhere.  Check them out on the internet.

[Dave2]

I agree, bid was higher then I expected.  Top bidder was Dignam properties.  They are a firm that buys and sells property, from what I have seen, always vacant and in the middle of nowhere.  Check them out on the internet.

Brady/Melray:

Was there something unusually valuable about this property.  I am shocked at the price Dignam paid.  They certainly buy and sell a lot of real estate but they usually bid low and to bid above assessed value I view as a major change in pattern for them unless they are saying now that Ontario land is going to get more valuable. 

Could you describe features of the property.

Dave2 

[bobs]

I agree, Dignam usually bids low.  The property was near Driftwood Provincial Park, down Mackey Creek which is off the Ottawa river.  Not on water, public road accessable in an area with a couple of nice houses but mostly shacks.  Five and a half acres mixed bush (mid aged) rolling area with several open areas.  Crown land around the corner for miles then Algonquin Park.

There must be something I do not know as this bid by Dignam does not match there pattern.

Sombody might know more about it as at least three other people had recenly walked it when I was there.

[netpred]

Based on D's business model you can expect the property to be listed at 29k with the standand reduction for an all cash deal. Is it worth 5k an acre? I dunno, but if it is, then we got some rich folks on this board.

Keep in mind the fact that it is on a road (probably with hydro & phone) and it doesn't sound like a swamp. Still, 5k an acre sounds steep to me. What does everyone here think what small rural acreages are worth a few hundred km from GTA?

[cityhunter]

Based on D's business model you can expect the property to be listed at 29k with the standand reduction for an all cash deal. Is it worth 5k an acre? I dunno, but if it is, then we got some rich folks on this board.

Keep in mind the fact that it is on a road (probably with hydro & phone) and it doesn't sound like a swamp. Still, 5k an acre sounds steep to me. What does everyone here think what small rural acreages are worth a few hundred km from GTA?

depends where they are.... Cottage Country vs ontop of algonquin makes a huge differance.... smaller market for a property like that... for Dignam thats nothing .. im sure they will make a decent profit on it eventually.

[Dave2]

Based on D's business model you can expect the property to be listed at 29k with the standand reduction for an all cash deal. Is it worth 5k an acre? I dunno, but if it is, then we got some rich folks on this board.

Keep in mind the fact that it is on a road (probably with hydro & phone) and it doesn't sound like a swamp. Still, 5k an acre sounds steep to me. What does everyone here think what small rural acreages are worth a few hundred km from GTA?

In southern Ontario you can't find another location that far from a major center, 6 hours driving (one day) from Toronto, and 3 hours from Ottawa.  Its got nothing special that I can't find much closer for the same price; no waterfront, just road access and reasonable rural land.  

Anyone else seen signs of aggressive bidding by Dignam on other tax sale properties.  God if this is a sign of things to come I hate to think what I will have to pay for local chequerboard.   .  

As expected with someone as knowledgeable as the Dignam folks their bid was not overpriced.  

One final postscript of course if the Dignam folks want to eliminate competition for their retail priced properties one way to do it is to bid up tax sale property prices.