I just put a bid on a 1 acre parcel on a small lake near Hayden, ID. I low bidded with cash offer and we are counter offering now. I got them to drop price about 20 per cent from their high a month ago. There is electric and sewer already hooked up to property. And 13 k in sewer fees -hookup already paid by the seller.
There is timber to be cleared out and it slopes down to the lake. Front half of property 25 ft from road slopes about 5 to 7 feet in the general building area. So some extra costs in building. Thinking of a day light basement type build and a smaller 1800 to 2000 sq ft house.
According to all of the realtors in area there are a lot of inquiries in this area despite the economy. If I get property probably sit on it til next year until economy sorts outs out. Spoke to a few local builders and advised building costs are very high now.
Any input on buying property now?
You can't go wrong buying that parcel. Anything near Pend Oreille, Hayden, or Spirit Lake will be gold. I wish I still had property there.
