Land's cheap - What's the catch? (Skagway, Thorne Bay: house, ferry, cottages)

[RayinAK]

Originally Posted by starlite9

Well "Cheap" is in the eye of the buyer.

No matter how nice of a description you read about the place, you need to step on it first. Just because it is remote, doesn't make it a good deal. Could be all bog, could be on a vertical cliff, could be subject to Avalanches and the list goes on!

Nothing really is any good unless you see it first! And there is a lot of really bad land in Alaska, as well as good, but the sellers don't always tell you the fine print!

I still see people from the lower-48 buying land in places in the flood plane of the Tanana and other rivers nearby. As you said, it's best to step on the land to be purchased, plus having geology reports of the area, and everything else. It may cost big bucks at the beginning, but will save a lot of bucks and headaches in the long run.

[AlaskaNana]

I bought land on the Kenai Penn and, not saying there isn't any, I didn't find anything even close to a thousand an acre. I have 2 acres and paid well more than that AND I live well outside of any town limits.

[roadfamily6now]

Fun thread to read. I used to see land for roughly $1000 an acre or less back in the 1990's. And it was usually well outside of town, and there were no utilities available.
Recently we were looking for land out of state and were shocked that things were so affordable! I guess the grass is always greener?

[starlite9]

Originally Posted by RayinAK

I still see people from the lower-48 buying land in places in the flood plane of the Tanana and other rivers nearby. As you said, it's best to step on the land to be purchased, plus having geology reports of the area, and everything else. It may cost big bucks at the beginning, but will save a lot of bucks and headaches in the long run.

You can buy good land for a thousand an acre, but it is so remote even God may have a tough time finding you!

But that is why you need to stand on it. Just because it's good land, if you can't afford access to it, it is a waste of your money.

[heathen]

In general, the only part of the state where buildable land is around $1k/acre, with road access, and power reasonably close by, is here in the eastern interior. Land that cheap on the Kenai is extremely suspicious to say the least.

[ghostrider42]

Yep 23 acres on Thorne Bay for $2750 an acre, I confirmed the price with the landowner and his realtor. My attorney and I are gonna fly over it next week. If it's legit, we hire a surveyor and go from there.

[starlite9]

Originally Posted by ghostrider42

Yep 23 acres on Thorne Bay for $2750 an acre, I confirmed the price with the landowner and his realtor. My attorney and I are gonna fly over it next week. If it's legit, we hire a surveyor and go from there.

Good luck! Most of the good land that is view or by the water the State sells in SE costs in the $30,000.00 an acre, so would be interesting to see what you'd get for that price. I would assume since that is "cheap", it will be part of the clear cut area and/or may be pretty barren or boggy. Course it is remote per-say as well so hard to tell what you'd be looking at, may be a good spot too!

[NomadicBear]

I'd recommend looking for some bank-owned land, if possible. I just paid cash for 4 acres of beautiful, completely useable land in western WA. The previous owner owed the bank $130k between the original purchase price, bringing in power, and permits. He lost it in foreclosure. Now, banks are not really loaning on raw land. Therefore, cash is king. I made what some would consider a stupid low offer, and they took it because it was all cash and quick close. I ended up getting the land for an 82% discount from the 2007 price. Patience pays.

[Metlakatla]

Originally Posted by ghostrider42

Yep 23 acres on Thorne Bay for $2750 an acre, I confirmed the price with the landowner and his realtor. My attorney and I are gonna fly over it next week. If it's legit, we hire a surveyor and go from there.

For some reason, some good land deals still exist in the Thorne Bay area. If this pans out, grab it -- the investment alone will pay off. Barren and boggy aren't really common on the island. Some regions have a lot of muskeg, and the whole place is basically a giant peat bog, but it's not nearly as swampy as other parts of the state.

[ghostrider42]

We bought it!