Canaan Valley area land-expensive? (Parsons, Poca: renting, to buy, prices)

[vec101]

$20,000 an acre - depends on where in Canaan Valley it is. If it's right in the Valley near the popular/hot areas I think that is a superb bargain and you better grab it up right away. Tell me where it is and we'll go buy it just for investment. Also have friends who have been looking for a bargain. Seriously.

Now if the property is in a remote location and it's on the side of a steep hill, umm, not sure what that price would be going for.

We bought our cabin in Canaan a couple months before 9-11 hit. While prices were somewhat high, they weren't bad at all. It wasn't long after 9-11 that prices skyrocketed.

Here's my thoughts on what happened although others may disagree:
1. After 9-11 the stock market hit some rough times so a lot of people looked to invest in real estate.
2. From what we saw, there seemed to be a LOT of people from the greater DC area buying land and houses in Canaan for a second home. I couldn't help but speculate that some may have had an interest in looking for a home to escape to from the DC area in case of emergency. Right or wrong, that's my thought.

Friends had a lot for sale along the conservency in Old Timberline for $175,000 before 9-11. (I think it's about 3-4 acres). Last year they were asking $500,000. (I don't know if they really did not want to sell or just wanted to get every penny they could out of it. Seems like very time they got an offer they raised the price.) Last I heard you couldn't buy a lot in Old Timberline and a couple of the other developments for under $100,000.

I think the real estate market in the Valley has followed suit with the nation and prices are coming down.

[David Kennedy]

The lots over near Deep Creek are going for 1/2 mill..it's the market...

[snorpus]

A friend of ours is building in Canaan Valley; she paid about $80K for about 2.5 acres. While we were at her place, we picked up a flyer from a RE company offering 5 acres for $200K.

But location is everything. My guess is that property in Thomas, about a dozen mile away, is a lot cheaper than in the Timberline/CV State Park vicinity.

And prices will be lower away from developments. We paid $20K for 4.5 acres in Pocahontas County about 4 or 5 years ago.

[Rick Meloni]

I have a home for sale in Elkins if interesred let me know.

by owner real estate in WV @ For Sale By Owner.com

[vec101]

In the Tuscan Ridge development in Canaan, less than half an acre is selling for $169,000. http://www.findwvrealestate.com/index.php?option=com_cmsrealty&Itemid=2&cmsrealty= user&area[]=Tucker%20County&action=searchresults&pclass[]=2

Let me revise that, goto http://www.findwvrealestate.com/ click Lots and Land then Highlight Tucker County and hit Search.

[LovinTheMountains]

Originally Posted by quietlake

Well, we decided on the cooler mountain areas, somewhere around the Canaan Valley area of West Virginia to relocate to.

Land I find is hovering around 20 grand an acre. Is this usual? I used to hear that WV had relatively inexpensive land. Was this incorect, or is it just this price in the mountains? (I used to think that the price would be LESS away from the bigger cities)?

We were looking for two to twenty acres, depending on price.

Any ideas? Thanks!

20K an acre is about right, but it varies depending on where in Canaan you are looking. In the heart of Canaan there was property (Cortland Rd I think?) where it was around 40K/acre. Tuscan Ridge (along 32 near Davis) is crazy high (around 100K/acre). The further you get away from the heart of Canaan, it tends to get lower.

[LovinTheMountains]

Originally Posted by GottaHerdOn

Hmm, my grandfather has about 1,300 acres between Elkins and Canaan Valley... by the time I inherit my 1/3 of that... I wonder what an acre will be going for

That's massive acreage! I wish my great-grandparents never sold their Virginia farm to move to NY, then maybe I'd have some acreage

Oh well, I can just come visit you!

[vec101]

Originally Posted by vec101

In the Tuscan Ridge development in Canaan, less than half an acre is selling for $169,000. Find West Virginia Real Estate[]=Tucker%20County&action=searchresults&pclass[]=2

Let me revise that, goto Find West Virginia Real Estate click Lots and Land then Highlight Tucker County and hit Search.

Tuscan Ridge, like many other places, possibly is hurting right now - saw a sign today that they are having a sale on lots. Not sure if it meant "sale" or just selling promo today (lot of people in town for Leaf Peepers). Heard a couple rumor around town that lots are selling for about $45 - $65 K. However, one realty site still has a .52 acre listed for $124 K and a .62 acre listed for $160 so who knows - you know how rumors are.

Do know there is a nice looking clubhouse there - not sure if it is ever open. Also know every time we drive up in there you can't get back to the lots. There is a gate with a padlock blocking the road - not a pretty gate but a gate like you find on a farm or commercial lot. Gives me the impression there must not be any houses going up.

[LovinTheMountains]

Originally Posted by vec101

Tuscan Ridge, like many other places, possibly is hurting right now - saw a sign today that they are having a sale on lots. Not sure if it meant "sale" or just selling promo today (lot of people in town for Leaf Peepers). Heard a couple rumor around town that lots are selling for about $45 - $65 K. However, one realty site still has a .52 acre listed for $124 K and a .62 acre listed for $160 so who knows - you know how rumors are.

Do know there is a nice looking clubhouse there - not sure if it is ever open. Also know every time we drive up in there you can't get back to the lots. There is a gate with a padlock blocking the road - not a pretty gate but a gate like you find on a farm or commercial lot. Gives me the impression there must not be any houses going up.

You are right, I did see a sale on those lots. The one was half an acre for $44000. The ad said it was price reduced.

[snorpus]

Hmmm, let's see... Half an acre in Canaan for $44K, or 5 acres in Pocahontas County for $25K.

$90K an acre vs. $5K an acre.

I know which I'd pick (actually, I already did, several years ago).