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Old 03-25-2008, 10:00 AM
 
Location: Horseshoe Bend, Arkansas
24 posts, read 82,239 times
Reputation: 34

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My wife and I are moving near Horseshoe Bend this summer after buying land there last summer in 2007. In our research of the city and surrounding areas we noticed that there are many "lots" and small parcels up for auction/for sale all the time from a seemingly big realestate broker. Rumor has it that around 7,000 lots were bought by this real estate company and now they are selling off lots in Horseshoe Bend, CV and probably other areas. My question to any folks out there that have been living in or near Horseshoe Bend, Cherokee Village, etc...are you noticing new construction of homes from the result of these lots selling? OR is it a guess that the lots are just being bought up cheap for "investment" and just being sat on by the owners and NO new construction is happening? Has anyone noticed any change in the area since the flood of these cheap lots being spilled on the market?

Any observations appreciated....

 
Old 03-25-2008, 12:26 PM
 
1,661 posts, read 4,357,591 times
Reputation: 1282
I'm in the area, and I've noticed that also. The most prominant that I've seen is some company called, "The American land Company", selling off lots from $1,000 to $3,000 in HB.

Now, I have no idea what the heck is going on there, but I'm going to find out when I go to HB for recycling the next time.

There are some subdivisions selling lots that are very upscale, the biggest one right across from the WalMart in Ash Flat. They're set up for "big" houses.

On those cheap lots, I don't know how much building is going on, there are name turning up on the transactions that are foreign. Like, other countries foreign, and I got to think they're certainly not going to build around here. There's virtually no ethnic population around here save one chinese buffet.

As far as Cherokee Village, I can't imagine "investment" buying. I inherited a lot over there years ago, and it ain't worth squat. Check the prices on house in CV and you'll see what I mean. I heard on the radio yesterday of a 2 bedroom, 2 bath, with all appliances over there. They're asking $52,000 for it.
 
Old 03-31-2008, 02:37 PM
 
Location: Denver
113 posts, read 561,287 times
Reputation: 69
Default American Land Co.

I don't know anything about this company, American Land Company, whose main location is in Honolulu. However; I've heard that in Honolulu several years ago that the Japanese sent people door to door to solicit home owners to sell their homes to Japanese investors. These investors thru their agents were offering the people who owned Hawaiian real estate many more times what their property was worth, if they would sell to these Japanese investors.., possibly ten or more times what it was worth. However, living there is extremely expensive!

I spent time in Hawaii back in the l960's when I was stationed at Pearl Harbor and I had friends there that lived inland from Waikiki, behind the University of Hawaii. One of these was a very nice old lady I dearly respected, who owned a very nice house she shared by renting rooms to college students who were going to school at the University of Hawaii. In Hawaii you buy the house and you sign a 99 year lease on the land.

I suspect that this land company's interests are to hold this land and sell it for much more than they paid for it by dividing it up into very small parcels which they can easily sell and in the mean time they seek restrictions on how this land is used or developed. The main interest here is long or short term return on investment.

I also own an undeveloped "cheap" lot in Izard County which is zoned for single family use, if it passes a perk test. Restrictions on use, septic, build a house on the lot or m/h must be w/in 5 yrs. of being new at the time it is brought onto the lot, city permit is required. I bought my lot sight unseen thru Bid4Assets €“ the online auction marketplace for buying and selling high-value items about July 2006. The company I bought my lot from is California based and is not American Land Company. It is a government surplus land auction company that sells remote land in many states. Only recently have I seen pictures of my lot, which were graciously sent to me by the City of Horseshoe Bend. I was somewhat disappointed when I saw the lot I had purchased. My lot isn't bad, but not extremely good either. I I still have many unanswered questions about it. I had planed on retiring on and developing that parcel by placing a manufactued home on it, which I am allowed to do.

Hence, if possible, I may be interested in trading properties, if I can. However, since there are no time restrictions on developing my lot, I haven't made any decisions.

I used to live in Hot Springs Arkansas many years ago. Back than, if your lot was flat, next to Lake Hamilton, or was very slightly graded, it went for a better price than if you owned the side of a cliff.

I was a marketing major in college and I have a fully accredited B. S. in marketing degree.

Last edited by in_the_gloaming; 03-31-2008 at 04:03 PM.. Reason: additional info
 
Old 03-31-2008, 06:42 PM
 
Location: Horseshoe Bend AR
3 posts, read 20,142 times
Reputation: 16
Default Horseshoe Bend/CV lots being sold

Wow - you could really get some wrong info here. Even from people who claim to, and may well live in the area. The simple answer to your question is that in 2007 approx a dozen new homes were built in HSB and I'm not sure but would assume about the same in CV. I live and work in HSB. Best way to get your question answered is to call HSB City hall (870-670-5113) and ask how many building permits for new home construction were issued. I don't have the number for CV handy or I would give it to you. CV is approx 22 miles from HSB. Moderator cut: advertising Yes, your figure of 7000 is pretty accurate and Am. Land is a Cherokee Village based corp. and quite reputable. The majority of the lot selling and purchasing in HSB and CV over the past several years has been done by investors on both parts or those who aspire to get a bargain. When someone from out of state sees a 100x150 lot for sale for $1000 to $2000 they automatically think bargain. It could be a bargain but you should never compare prices from one market to another market - just doesn't work that way. And you should never buy property sight unseen. You get what you ask for. If it sounds too good to be true - it is usually is! All those cliches are true. Do a little research and find out for yourself. There are plenty of good lots to be purchased here at good prices from reputable individuals and real estate cos. but you need to find out which are which and what the property looks like before you do. Moderator cut: edit

Last edited by Sam I Am; 04-01-2008 at 02:46 AM.. Reason: no realtor advertising on City Data
 
Old 04-01-2008, 10:04 AM
 
1,661 posts, read 4,357,591 times
Reputation: 1282
Nicsan, where are these lots that I'm seeing all the transfers for in the paper from American?

I'll see 20-30 at a time sometimes, all for beween $1000-3,000. I've been meaning to jog over and find it, but I'm thinking it's the undeveloped area that's to the south of the Hillhigh?
 
Old 04-01-2008, 10:12 AM
 
1,661 posts, read 4,357,591 times
Reputation: 1282
Quote:
Originally Posted by in_the_gloaming View Post
Igraciously sent to me by the City of Horseshoe Bend. I was somewhat disappointed when I saw the lot I had purchased. My lot isn't bad, but not extremely good either. I I still have many unanswered questions about it.
What didn't you like?

Most of the lots that I've seen are wooded, brush covered, undeveloped. However, I look at this as a guy that actually carved out a 4 acre "yard" out of heavily overgrown forest, and landscaped the 70% rock, 30% clay stuff we jokeingly call "dirt' on this hill.

There's certainly no shortage of heavy equipment workers here, and they work much cheaper than anyplace else I've seen because of the abundance.

Point being, you can make a heaven out of just about anything, as long as you're in the area you want to be in, and HSB and surrounding area is very accomodating.
 
Old 04-01-2008, 03:31 PM
 
Location: Denver
113 posts, read 561,287 times
Reputation: 69
Quote:
Originally Posted by RogMar View Post
What didn't you like?

Most of the lots that I've seen are wooded, brush covered, undeveloped. However, I look at this as a guy that actually carved out a 4 acre "yard" out of heavily overgrown forest, and landscaped the 70% rock, 30% clay stuff we jokeingly call "dirt' on this hill.

There's certainly no shortage of heavy equipment workers here, and they work much cheaper than anyplace else I've seen because of the abundance.

Point being, you can make a heaven out of just about anything, as long as you're in the area you want to be in, and HSB and surrounding area is very accomodating.
Personally, I don't disagree with you, however, the pictures I saw at the time I bid on my lot and the pictures of the actual lot itself were completely different! When I bid on my lot, I didn't know exactly what to expect, nor did I feel that, I wanted to just jump in my car, drive two thousand miles to look at it before bidding on it! Maybe you would, that's a matter of personal discretion. My reasons why I bid on that lot are personal and private. I thought about it many times since, however; to get there from here isn't all that easy for me.

You would have to actually see the pictures of this property, vs. those in the advertisement from the land auction company which were on the internet at the time of that auction to understand what I am talking about! I had expected to have more trees on my property than I have. I'm very happy to learn from you that the people there are very accomodating. Thank you.

I congratulate the one who revamped their land to make it into a heaven for themselves! Here, one is only limited by their imagination and their disposable money. One of my brothers did that with a lot he bought, relandscaping his 5 acre lot, putting a nice house on it with a split, tri level garage under his house for fifteen cars.., all vintage automobiles he enters in the National Auto Competition. Today, his investment is worth much more than he paid for it because he never gave up trying to improve what he has!
The area where he lives has grown tremendously and property values have skyrocketed since he bought that property.

Last edited by in_the_gloaming; 04-01-2008 at 03:36 PM.. Reason: additional info
 
Old 04-01-2008, 05:42 PM
 
Location: Denver
113 posts, read 561,287 times
Reputation: 69
Default reply to RogMor

Please pardon me for doing this because my time to edit my last reply has expired.

Earlier, you had asked why I might be disatisfied, or have some disatisfaction with my purchase. A couple or reasons:

1. the way the auction company had listed the property, in that they said that all utilities were nearby and were readily accessible. Yes, in a way that's true, in a way it isn't. I was unaware until very recently that I'd have to install a septic system when I was led to believe that city sewer was available and I knew nothing about what a perk test is.

2. that there is a restriction on the age of m/homes being brought in.., and that is 5 yrs old at the time they are being brought in.

Earlier, I had inquired about a piece of property in Holdenville Ok., which has a l5 year limit on the age of m/homes being brought in and Holdenville is in a very beautifull part of Eastern Oklahoma overlooking a very nice lake.

I went to Holdenville in person after looking at property near Hudspeth Oklahoma that was being auctioned and property in Stonewall Oklahoma I had purchased thru the internet. I also wanted to see property near Poteau Oklahoma I was interested in. Pronounced with a long 'o' sound..., as in po..., taaa...., u.

I was also interested in small parcels of land on one or more of the Blue Mountains that are in both Oklahoma and Arkansas. One of which is near Fiddlers Creek Arkansas. Another is in Latimer County Oklahoma. One is slightly north of Latimer County and the other is north of Fiddlers Creek and east of Greenville Ark.

Last edited by in_the_gloaming; 04-01-2008 at 05:44 PM.. Reason: additional info.
 
Old 04-01-2008, 05:50 PM
 
Location: Denver
113 posts, read 561,287 times
Reputation: 69
Sory.., I didn't mean to mis spell your name RogMar. No offense intended. It was an unnoticed typo I didn't notice until it was too late to correct it. ref. my last reply to your question.
 
Old 04-02-2008, 08:37 AM
 
1,661 posts, read 4,357,591 times
Reputation: 1282
Quote:
Originally Posted by in_the_gloaming View Post
Sory.., I didn't mean to mis spell your name RogMar. No offense intended. It was an unnoticed typo I didn't notice until it was too late to correct it. ref. my last reply to your question.
Not to worry about that, you won't believe names I've answered to in my life.

Nobody can beat my ex-wife

I can understand your dissatisfaction with that lot. Unexpected hassles and expenses can dull the dream.

Any city is going to have restrictions to some point, and that is one of the reasons I avoided cities. Everyone has their priorities as to what they want as an environment when they move here, and thankfully that can still be found withe the range from back-woods rural to urban contemporary and upscale.

I had to put in both well and septic, there were certain people that I wanted to do it, and it wasn't cheap, but I only wanted it done once.

I believe my septic system ran about $3,800, from ground breaking to dirt dozed back over. That's with a 1000 gallon tank.

Trees....ahh, yes. I have red oaks in my yard, which provide no shade, so the remainder of the truck *full* of shade trees are waiting for the ground to be something other than soaked fom our rains. With all the timber I have, going out and buying trees felt just a little odd.

Bidding on unseen property is a common thing here right now with these lots. I suspect that most sales are going to "investment" buyers, not actually people who are planning to build on them.

I inherited a lot like that from a deceased relative. It's in Cherokee Village and was purchased by them in the early 60's. To this day, there's still not a house even remotely close to that lot.

That could be good news if one was actually planning to build, as one could have peace & soltitude until others started building, thereby increasing the original builder's value.
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