One acre. By a lake. But I still feel it’s ridiculous. I hate the idea of what’s market value. To me it’s what is decent as a human being.
Somebody you know is selling an acre of land on a lake, not a shed. This land is probably worth that much with no improvements at all
It’s always land value plus house value. A friend of mine bought an old farm house on a large piece of land for less than a used car’s worth. Why so cheap? The land would be worth a fortune alone, but the farm house was a few hundred years old (take that, USA!), in a bad shape, and listed as a protected building, i.e. he had to do any kind of “making it habitable” under close scrutiny of bureaucrats and historians. The family worked their asses off every weekend for over a decade and spent a fortune on historically correct materials.
Land where I live runs about $1M/acre.
Decent’s got nothing to do with it.
What does morality have to do with it? Couldn’t it be considered immoral to your family to sell for less than fair market value?
“Owning” land isn’t moral, but we’ve normalized it over the past few millennia so it isn’t going anywhere anytime soon.
80% of that value is in the land, assuming the lake is somewhat desirable to live by. 1 whole acre?? These are 2013 prices