Offshoreonly.com - Should we sell waterfront property or keep it?

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Quote:

Originally Posted by THEJOKER (Post 2277989)

Sell it and buy a new boat , if you get enough make it an Outerlimits.

Now there's a great investment!!!:D

Quote:

Originally Posted by Semper Fi (Post 2278170)

Is anyone starting to build in this area? If so, I would hold out--it should only increase in value in the future.

My parents lot is the only vacant lot in the area. All the other lots have 1000 + sq/ft houses on them. The area used to be summer cottages and then people started tearing down the cottages and building brick year round homes My dad found out that one house about 8 doors down sold for $ 380,000 five years ago. If anybody is familar with the area. It is the lone vacant lot on the canadian side right near the mouth to the entrance of the Snye river next to whapool Indian reservation.

Well,, in my opinion, :D not one of you brain's have ask the correct question!!! Is the water deep enough to dock a boat ,, can you build a dock on the water front or not ,,, how much frontage will you be able to use ,, do you see a lot of activity from city hall making new regulations,, all of these things will effect the long range value of the lot,,, it looks like your Dad has the market comps for the area ,, do not sell to the man who has offered untill it has been exposed to the market for a higher price ,,, then you can help Dad make a good decision !! Just my 2c ,,,,, good luck, Oh,, can it be sub-divided or build a duplex so both you and your brother gets a share ???

RHC

Quote:

Originally Posted by RHC (Post 2278606)

They have 50ft of seawall. I think they can build a small dock ( about 10 ft out). The water last year was about 2 1/2 feet deep about 1 foot from the seawall. Other people have put pillings in front of their property for tying up their boats.

Quote:

Originally Posted by tanner (Post 2277986)

Easy answer... If the property is not gaining 12-15% a year in value, you need to sell it and invest in any decent Mutual fund. Any fund will gain 15% a year over a period of 7 - 10 years. The waterfront property is not in Florida or California where it will out perfrom averages. So just do the math calculations for yourself.

I'd sure like to know what you investing in.

Quote:

Originally Posted by 42MTI (Post 2278648)

I'd sure like to know what you investing in.

NY Davis "B" fund to start.

Quote:

Originally Posted by tanner (Post 2278895)

NY Davis "B" fund to start.

http://www.investorguide.com/mutual-...E0&ma=0&maval=

I bought "Waterfront" in the Hi-Desert in SoCal 3 years ago,
They say theres a BIG one every 300 years and its been 310
the end of this year.
My neighbor asked why I was putting in such a wide driveway
I said its a launch Ramp:rolleyes:
Mike J.

Thats what I was thinking. Lots of new waterfront sum day.

Quote:

Originally Posted by phughes69 (Post 2278598)

It is the lone vacant lot on the canadian side right near the mouth to the entrance of the Snye river next to whapool Indian reservation.

The big threat is unlike the US, Constitutional rights are not absolute, unless you are an Indian. Canada's native population has a "seperate constitution" they are governed under The Royal Proclamation of 1863. There is also no Provincial rights in Canada. In fact they are called provinces because thats the form of government. As Provinces they are in reality colonies of Canada. The Indians in BC for example have successfuly taken over entire real estate developments claiming its their land.

Royal Proclamation reads:

Quote:

Warrants of Survey, or pass Patents for any Lands beyond the Heads or Sources of any of the Rivers which fall into the Atlantic Ocean from the West and North West, or upon any Lands whatever, which, not having been ceded to or purchased by Us as aforesaid, are reserved to the said Indians, or any of them.

And We do further declare it to be Our Royal Will and Pleasure, for the present as aforesaid, to reserve under our Sovereignty, Protection, and Dominion, for the use of the said Indians, all the Lands and Territories not included within the Limits of Our said Three new Governments, or within the Limits of the Territory granted to the Hudson's Bay Company, as also all the Lands and Territories lying to the Westward of the Sources of the Rivers which fall into the Sea from the West and North West as aforesaid.

And We do hereby strictly forbid, on Pain of our Displeasure, all our loving Subjects from making any Purchases or Settlements whatever, or taking Possession of any of the Lands above reserved, without our especial leave and Licence for that Purpose first obtained.

And We do further strictly enjoin and require all Persons whatever who have either wilfully or inadvertently seated themselves upon any Lands within the Countries above described or upon any other Lands which, not having been ceded to or purchased by Us, are still reserved to the said Indians as aforesaid, forthwith to remove themselves from such Settlements.

In other words the only Person Indians cant try and take land from is the Monarch of England. Non Crown lands have become fair game. In the landmark 1997 case of Delgamuukw v. British Columbia, the Supreme Court expanded the definition of aboriginal land title to include the modern use of resources like forestry and mining -- in essence, full ownership. It determined that oral histories should be given as much legal weight as written evidence, and that the government should provide compensation if there was a compelling reason to infringe native land rights. The tsawwassen Indian band used the ruling to grab a major coal port and a BC Ferries terminal, plus 7.4 million acres surrounding their reserve! The landowners however got to keep their property, the Indians have ever collect all the property taxes for the reserves coffers. As a result buyers are very leary of lands in Canada that could be claimed by Indians.