Greater Napanee

[Pfm1011]

any results and did anyone bid..

[worldjohn]

The result for the only worthwhile property was $16,356 for the 5 acre lot.
I was the second highest bidder at several thousand dollars below that.

Allow me a mild rant once more at the idiots who bid the assessed value.  There is another place where you can buy properties at assessed values, its called MLS.  Please go there and stop driving up the bids here, where we are supposed to be trying to get bargains!

[Pfm1011]

that lot is worth   20 retail absolutely max, It should taxsale at 10 to 11 max or it was a waste of money  ,..However if it was a local enduser. its cheap enough for a lot , who cares if you pay 10 or 16 ..the house will cost 300

[worldjohn]

Its stupid to pay 16 when u should have paid 10.  And if anybody out there agrees with PFM that 6 thousand dollars is nothing, feel free to contact me and give it to me.

My rant stands. The guy who bid 16 is one of too many idiots out there bidding assessed values at a tax sale.  Go to MLS and leave tax sales to the people who need a bargain. I doubt this guy is an end user, I'm willing to bet, I'll see this property on MLS overpriced and sitting there for the next year.

As for a house costing 300K? If you're filthy rich sure u can have a mansion built for that.  But I plan to build with eco-freindly methods and using my own hands and I plan to get a really nice house built for under 50k.  If you want to know how, google "cob construction" or "earthbag buildings" or "rammed earth" or "earthships" or 'Field stone houses" or "straw bale" etc.
And please no one respond with the construction industry propaganda that only a contractor can build a viable house. People have been brainwashed with their consumeristic crap for too long.  And yes, as long as its safe and sturdy I don't care if its up to code or not!

[Frank]

And please no one respond with the construction industry propaganda that only a contractor can build a viable house. People have been brainwashed with their consumeristic crap for too long.  And yes, as long as its safe and sturdy I don't care if its up to code or not!

The local building officials will have something to say about your building techniques...I'm pretty sure of that. 

I've put up several buidings personally, all up to code.  And, I work in the construction industry.  You are right in that anyone can build a house, it helps however, if you have an inkling of what you are doing.  Please call me over the grand opening, and we will put it to the test.  If it is still standing when the wolf blows, then the little pigs can stay inside.

[Pfm1011]

As for a house costing 300K? If you're filthy rich sure u can have a mansion built for that.

The most basic of cottage will cost 150 a foot to have built. Build it yourself for 75  a foot .

But you need a basement ..add 20 K , want it walkout add 10 K..need to blast , add 10.   Geotherm   add 15 ,
I want some acreage so add a driveway and a few hundred of hydro lines or solar ..add 30 ..  
Garage ..15    .. want to make it from steel so you skid steer isnt scooped in a week  25 to 30

oops ..need a tractor or skidsteer 25..or both 50

Oh wait..development charges and permits..add 10

300 wont buy a mansion..wont even buy a basic log cabin or viceroy with more then one or 2 bedrooms

As per your mud house..good luck with the town , the neighbours...and the wife.. ..want to be cheap and creative ..sea container houses..working in New York..good luck in muskoka


As per the winner paying too much..Everytime I lose I think the winner paid too much, Everytime I win .... everybody else thinks the winner paid too much

Dont get P*ssed when you lose..thats the fun of the game.. working your strategy ..when you lose..dont be a dick..give the winner a "well bought"  and try to beat them the next time

Almost every opening I go to has at least one dick who gets out of shape ..and makes an ass of himself

and to correct my earlier post..MLS makes that a 32k to 45k  lot so 16 is probably half price or less
, worse case 30% discount..still "well bought"

[worldjohn]

thanks for the bad karma pfm. Is it really that unacceptable to rant here after losing without getting called a dick? I prefaced it by explaining I was upset and going to rant. It wasn't the first time I lost by someone bidding over the assessed value and was accumulated anger.  Although you may not agree that bidding assessed value or higher is ruining the tax sale game there are many out there who do agree.  Where is left to get bargains?

"Dont get P*ssed when you lose..thats the fun of the game" 
Really??? anyone else agree with that?

"when you lose..dont be a dick..give the winner a "well bought" "
Really, You always maintain your gentlemen front? you've never gotten angry when some idiot bids a ridiculous amount, ruining your smart bid?
Then I congratulate u on being an enlightened being with amazing emotional control. but I doubt it, as an enlightened gentlemen would not imply someone is  a dick on a message public board.  I certainly wouldn't imply that about u though I may think it.

PS I have told people "well bought" when I'm beaten by 500 or 1000 dollars.

[Pfm1011]

You may want to ponder this..the odds that the man who paid 16 for the lot is on here is fairly good  (you forget that we are just a few posters but there is a Sh*tlocker of lurkers )  He comes home all happy after winning a bid and is called an idiot by a stranger on a forum after he got a five acre building lot for a meager 16K..a good deal anywhere on the planet..

Assessed value..Who cares about assessed value..On most taxsale pieces  the assessed value is completely wrong..either extremely low or extremely high and anyone who uses that number will lose their shirt ( or lose the bids)  in this game. Keep using it as a benchmark and you will simply keep losing bids or even worse ..winning bids

Where is left to get bargains?  I can assure you theres bargains galour..ask Dave2 how his year is going

Karma..you don't have me to thank for that one

As per ranting....I have been known to do so an multiple occasions and can assure you I will again


 

[g2020]

 :)PFM1011 has just gained my respect. The chap who bid the 16K called me after the sale to say, he had no sooner got off the telephone with the treasurer finding out that he and was the winner, that someone on this site was calling him an idiot. I recall nearly 20 years ago he came in second on a farm in Grimsby and I had paid 1k per acre which by conventional wisdom was the going price for farms in that area. We met at another sale and he did not call me an idiot. He was curious and keen to learn. Even though he did not know who I was, he congratulated me on being no. 1 to his second high tender so many times in the past. I had a reason for bidding 100k on the farm. He was correct about the value except for the fact that there was a leasehold interest on one acre of the property. The owner was assured by his solicitor that his lease would survive the tax sale. His solicitor later had to admit that he did not fully understand that area of the law and that I was correct. He happily paid me 150k and I let the previous owner rent the large brick bungalow and 50 acres for a modest rent until she could get her life back in order. The chap who paid 16k is no idiot but we all occasionally overpay. I will sometimes walk away on my 20% deposit. Sometimes it is not obvious just who the idiots are but I recognize a true professional like you when I see one.
G2020

[netpred]

Small world.

Good post. Why don't you stay awhile? We could probably learn a thing or two from you.

[worldjohn]

g2020 and the person who won, have been doing this for 20+ years??? And this is your first post?? I guess you would be considered some the the " sh*tlocker of lurkers" PFM mentioned.  Why dont u post something usefull.
So this chaps feelings were hurt by being called an idiot? And he called u to complain? Did he cry on his husbands shoulders too?
I stand by my little rant.
Ive been doing this 5 years and I cant tell u how many times I've come in second where the winning bid was 30% to 50% higher than mine. Probably about 5 times and its beyond annoying. All this overbidding is creating inflationary pressures so to speak and going to cause to to bid more than I want. Keep your bids reasonable people!!
And just to let you know, I was actually really hoping that the winner would read that I was calling him an idiot.  Can you guess why?

[twinn1]

I have been at this game for a while, but no where near 20 years.  I do not bid often but when I do am either very close or totally blown away.  In the scheme of things 6K is not that much in relation to building a cottage.  However, on a 16K bid 6K is approx 40% of the bid.  Everyone has a different use for land, and a different value propostion regarding what true market value of the land.

Some people see value others see junk, it really depends on what your using it for, a good example is the EA land that is non buildable, to 99% it is junk and nothing more then a campsite but to the adjoining landowners its value is much greater.

One great example of this on this board is Frank, there is a waterfront property that he won at tax sale many years ago, I think he blew away everybody with his bid,  if i recall correctly it was by at least 20K if not more, I was'nt even in the running.  He either currently is or has finished a building on it, even with his high bid and his total cost to build (i have never seen the property) I am sure that he could turn a nice profit on it.

Back at the time I thought his bid was crazy, I know that mine was low but his was somewhere around 2X what i put in.  Now with more experience I see the logic behind his thinking.  Live and learn

[Pfm1011]

I don't understand why you care what you lose by, losing is losing . It doesn't matter if you get steam rolled or simply beat by a dollar ..you lost ..you have been defeated

loser
Part of Speech: noun
Definition: person, thing that fails
Synonyms: also-ran, deadbeat, defeated, disadvantaged, down-and-outer, dud, failure, flop, flunkee, has-been, underdog, underprivileged 

defeat
Part of Speech: verb
Definition: conquer in military manner
Synonyms: ambush, annihilate, bar, bear down, beat, best, block, butcher, crush, decimate, demolish, discomfit, drown, entrap, finish off, halt, hinder, impede, lick, mow down, obliterate, obstruct, outflank, outmaneuver, overpower, overrun, overthrow, overwhelm, parry, prevail over, quell, reduce, repel, repress, repulse, roll back, rout, route, sack, scatter, shipwreck, sink, slaughter, smash, subdue, subjugate, suppress, surmount, swamp, torpedo, trample, trash, upset, vanquish, whip, wipe out 


There is no second place in this game.

I have two category's of bids..One where I want to win so I bid high. and others where I could care less if I win so I lowball and hope I luck out.

In most cases where I am beat, I can see where the people are coming from. If a piece has a special value for me IE adjacent etc I will pay a premium ( still way below market).  I personally prefer to get my ass kicked then to lose by only a buck or two. If someone bids 30 or 50% over me it means I am bidding in the conservative region and not overbidding. Clearly the land is worth as much as I thought or more.  I also take it as learning to adjust my land values for the next bid.

However If I lose by only a small amount I am pissed since I was so close and clearly a fool being so cheap.

fool
Part of Speech: noun
Definition: stupid or ridiculous person
Synonyms: ass, birdbrain, blockhead, bonehead, boob*, bore, buffoon, clod, clown, cretin*, dimwit, dolt*, dope*, dumb ox, dunce, dunderhead, easy mark, fair game, fathead, goose, halfwit, idiot, ignoramus, illiterate, imbecile, innocent, jerk*, lamebrain, lightweight, loon, moron, nerd*, nincompoop, ninny, nitwit, numskull, oaf, sap*, schlemiel, silly, simpleton, stooge, sucker, turkey, twerp, twit, victim 

[Dave2]

My problem in reviewing a property for tax sale purchase is my own shortcomings in seeing what it is truly worth in the resale market.  I tend to take an engineering approach and worry more about the likely costs involved then potential value for reuse or resale.

Assessed value is just one measurement of value.  Not all assessed values are up to date.  I had one property for years (not a tax sale property) that was way underassessed.  Did I complain to MPAC, for some reason no.   

I was not involved in in Napanee but if you read the recent posts in Trent Hills the engineering approach and related concerns of myself are obvious.  On the other hand the limitations are also there.  A piece of property on a hill means an expensive approach road but does give you a great view that some people are willing to pay more for. 

My big problem always has been in finding those people who are willing to pay more. 
Try as I might in saying how good the lot is for construction; level and flat etc. the people I seem to deal with always want a lower price.

At the end of the day any price is justifiable if you can find a buyer who will pay your price.  I have done enough ranting myself about coming second if your follow my posts and having to deal locally with someone who is obviously a better reseller then me.

WorldJohn I won't rant and rave; I would get even. I would look on someone who overpays as a potential customer of your marble.  Obviously  if they lost their marbles once they may do it again.
Be optimistic. Maybe they have a suitable model to create a statute like the Greeks and Romans did. 
AS I noted earlier the ladies who want to spend your money tend to be not bad to look at for an old geezer like me. You as the marble supplier will have to make certain that the model is suitable for the high quality marble you supply.
 
There is a person who hangs out in this board from time to time who appears like this. He has this image for a reason.  He appreciates the finer things in life but does not want to appear obvious doing it. Sooner or later I will probably have to go head to head against him.  He is so smooth I won't realize what happened to me. I can feel the stiletto now. 

[Frank]

One great example of this on this board is Frank, there is a waterfront property that he won at tax sale many years ago, I think he blew away everybody with his bid,  if i recall correctly it was by at least 20K if not more, I was'nt even in the running.  He either currently is or has finished a building on it, even with his high bid and his total cost to build (i have never seen the property) I am sure that he could turn a nice profit on it.

Back at the time I thought his bid was crazy, I know that mine was low but his was somewhere around 2X what i put in.  Now with more experience I see the logic behind his thinking.  Live and learn

Not quite correct.  I have won three bids, and none by the margin you refer to.  The property you are talking about was won by only 1k.  It may have been double yours, and was in fact double most bidders, but there was one right behind me.   Some folks thought I was crazy, but I got a minor variance through so I could build within view of the water, and it is now under construction.