Trent Hills Tax Sale Results

[Dave2]

Only 1 property bid on # 3 and winning bid was $7,300.

Only 2 bids but not a surprise because this is a longer term hold one.  

Big issue in addition to roads was the need to run in power.  My estimate was about 1,200 feet or about 7 hydro poles which is not cheap and is the main reason I decided to pass.  

I was a little surprised that the old Orange hall did not receive any bids from the contractors in the wolf pack.  Not that bad shape and you would have even picked up furniture and playing cards.  (see photos)

Personally I just have too much to tackle to take on another building project right now.  

[worldjohn]

I also am surprised at the lack of bids.  Ive noticed that with a few recent sales.  why do people think that is.  The $7300 seems like some smart bidding and a good deal (second place was $6100 and assessed value is $26,000). what do others think?

Dave you seem to automatically think of bring hydro in, sometimes, like in this case, alternative green energy like wind or solar is far more cost effective

[Dave2]

I also am surprised at the lack of bids.  Ive noticed that with a few recent sales.  why do people think that is.  The $7300 seems like some smart bidding and a good deal (second place was $6100 and assessed value is $26,000). what do others think?

Dave you seem to automatically think of bring hydro in, sometimes, like in this case, alternative green energy like wind or solar is far more cost effective

John:

I took a close look at the property that was bought and I agree that there is nothing fundamentally wrong with it. The best source of hydro is only relevant if you can build. You still need to upgrade that road to township standards before you can build.  I have property on the same road (allowance) that I bought last year; that is on a road portion maintained by the municipality and has hydro/bell/high speed internet at the lot line.  

First I don't know if you have being paying attention lately but there are a lot of opportunities currently out there.  If things keep going as they are and people like Frank can solve his last minute redemption problem, (which he will) there are going to be some very happy people here.

MOST IMPORTANTLY PRICES ARE STARTING TO GET TO BE MORE TAX SALE RATIONAL.

In fact if things keep going the way they are I expect the buyers here to get swamped and be like my picture below come the spring because they are so full.   A lot of them are close to Toronto so all the city boys and girls are staying close to home and letting us poor country boys to have all the local fun all by ourselves AT PRICES WE CAN AFFORD.  

I don't know with all of opportunities out there that you need the hastle to realize the gain that will come in time with this property (see below). I agree with you it is not a bad property especially with the rural residential zoning, but I expect it will take some time to realize the gain, thats all.    

My own personal basic problem is the need to decide priority of funds allocation. While I have been selling some properties, I also have been replacing them faster then I am selling them and I also need additional funds to get the new ones ready for sale.  (I have bought much more land through non tax sale purchase, the majority through regular real estate channels; of better quality and at better prices) then tax sale so far this year.    

Other regulars are also busy.  For example I talked to Bigfoot about this sale.  He is too busy right now trying to beat his eight point buck he got on the tax sale property he beat me on a couple of years ago. I caught him when he came home for lunch which is something you can do when the property is 10 minutes from your home. 
  
For example I have buildable waterfront (on Rice Lake) a dozen minutes from the new exit of the 407.   I have access to a cheap shell (1,700 sq. ft) that I can buy for $15.00 per sq. ft. and possibly use as a cottage.  I may want to allocate available funds to a project like that.

There are two options:

a) Organize the home owners to have everyone pay for road upgrade and hydro.  This takes time and is tougher then you think.

b) Just be patient and eventually things will work out both for the people who win a property and those of us who stayed on the side lines this time.  We will be back. 

My preference is to avoid going head to head against people like you,  or Netpred.  I have my strategy especially as this is my home hunting territory.  Now is not the time to play it.