How about those property taxes?

salukigirl · 08-23-2007, 01:43 PM

In regards to the loan idea....It sounds good in theory, but shaky loan practices are what got us into this whole real estate crumble. What we have been forced to do is sell off small lots over the years to maintain the cabin and pay taxes. Many people on the board want to rant about condos going up everywhere, but please remember that some of the people on the lake still are 'little guys' who do what they have to in order to maintain a piece of family history.

I do not have information on orginal purchase price, but do have a deed from the 1880's where a family member purchased our current property from the estate of another family member for around $400. I highly doubt they foresaw and could adequetly plan for what the value is now.

Also, in the late 1800's my family owned a huge swath (like half the island) of bear island...which was supposdly won in a poker match,

. The family member then turned around and sold during the same time period for a few hundred dollars! Can only image what that amount of property would fetch now!

08-23-2007, 01:43 PM	#11
salukigirl Member Join Date: Jun 2005 Posts: 22 Thanks: 0 Thanked 1 Time in 1 Post	In regards to the loan idea....It sounds good in theory, but shaky loan practices are what got us into this whole real estate crumble. What we have been forced to do is sell off small lots over the years to maintain the cabin and pay taxes. Many people on the board want to rant about condos going up everywhere, but please remember that some of the people on the lake still are 'little guys' who do what they have to in order to maintain a piece of family history. I do not have information on orginal purchase price, but do have a deed from the 1880's where a family member purchased our current property from the estate of another family member for around $400. I highly doubt they foresaw and could adequetly plan for what the value is now. Also, in the late 1800's my family owned a huge swath (like half the island) of bear island...which was supposdly won in a poker match, . The family member then turned around and sold during the same time period for a few hundred dollars! Can only image what that amount of property would fetch now!