Looking At Some Dirty Work

Glasshousebltr

I've found 5 acres in pretty prime location. The fella wants 50k out of it, power on site, no structures, mostly wooded, 10 miles from 21,000 pop but mostly rural and 20 miles from metro.

Oh ....also let me add 6 miles from half to 3 quarter million $ homes in 2 sub divisions and it's growing my direction, one of which is resort classified. I'm about crapping my pants to get my Bobcat out there and start cutting.

Maybe we need a developers section on CTalk.

However, this question needs to be shot out to some of you who do septic.

I'm thinking three lots, I think I've already got one sold to another builder for spec. Three lots works out to a little over an acre and half each and I'm kind of concerned about septic layout. Also, The lots perked at 5 acres. I know I'll need another perk after the divide so here's my question.

Joint septic/water, who knows about it and would ya fish me some info, or is it even worth kicking threw the regulations involved.

In advance, Many thanks fellas

Bob

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Bob

jmic

Bob,
That sounds like a hell of a deal, at least compared to prices around here for 5 acres. Do you guys have zoning out there? What zone are you in? Can you get 3 lots out of the 5 acres? What is the soil like? Contours of property, flat, slightly sloped, need a frikken mtn. goat steep? I've seen a couple of conservation subdivisions around here where they did a community septic system, but where they did the system was in open flat pasture land with bank run gravel you would die for. The house sites were ledgy and rough. Still an expensive proposition by the time you have an engineer design it get it passed, install it, run the main and all the laterals to the homes (20 I think). I would think you'de be further ahead to do individual systems. Now the well issue is a whole nutter cluster. Around here you'd have to apply to the State for a special permit, set up a water co.,it goes on and on. What makes you think it would not easily support 3 septic systems and 3 wells? Do you have to go before a planning commision there for subdivisions? Don't understand what you meant by the lot perked at 5 acres. What was the perk ( how many in. drop/min.?

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Joe

rino1494

10k per acre for land is just a tad too high for around here. For undeveloped land, around here you are looking at around 5-8K.

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Glasshousebltr

Jmic, I Haven't got the perk report from the realtor yet so I'm unsure and was just throwing this out in advance.

Rino, When I did some research I discovered because of the development sprawl in that direction it's tough to find any thing this close at less than 20k an acre, most much more. The area is actually just inside a sprawl that incorporates about about 2,500 new homes at an average 250k to 300k in 2006. That average is the just my guess from viewing many .....many listings.

Also ....that 2500 incorporates the whole county....the sprawl being the center and the property is on it's leading edge.

Bob

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Bob

PipeGuy

Joint septic is a county by county thing around here Bob. Some do allow and most don't. The one's I've seen are enormous and served about 15-25 lot subdivisions. The subdivisions used both gravity and pressure sewer systems (individual ejector pumps) to move the wastewater to a large distribution field that was situated on an undeveloped parcel some distance from any developed lot.

Update: I went back and looked at the (2) quotes (they were '04 jobs). One was a 34 lot subdivision, half of which had ejector basins. The septic system was just under $250K, the sewer system was just over $200K.
The other job was a 7 lot subdivision with one lot being served by an ejector basin. The septic system was about $220K and the sewers were about $70K.
That's the sum of my knowledge of the topic.

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Mike Finley

Can you just option the land for 5 years, hold it and sell it at your leisure? From your description that land is only going to be more valuable as time goes by, probably a minimum of 30% over the next 5 years.
Or does the seller want to cash out?

jmic

It's more like Glass wants to DIG IN,
with his skid steer that is.

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Joe

Wolf

Why not just buy it and flip it?

mdshunk

Joint water and septic puts somebody in the position of being a water and sewer company.

In any event, I have a regular customer who is a developer. We've talked in the past about small parcels, such as the one you've found. In my area, joint water or sewer makes no economic sense until you've got at least 15 lots, so I'm told. If you've got a sufficient number of lots, you can construct your water and sewer infrastructure in such a way that you can "donate" it to the local government so that you don't have to provide for its operation into the infinate future.

Driftwood

Shared driveways lead to heartaches.

You'll be causing problems for folks in the future.

Bad kama all around ! Get all perks 1st.

Glasshousebltr

Thanks for the valuable input fellas. I'll wait on the perk.

Bob

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Bob

LNG24

WOW, I don't even think I was born when they were getting those prices around here. A 1 acre building lot (which is required to support a 4 bedroom house by the Board of Health standards) will go for betweek $175- $200k This is RAW land. If it needs a ton of bankrun, you might pick it up for $100- $150k

ruskent

Thats a hell of a deal. In my town 5 acers would go for around 175-225k depending on how nice the land was. A couple towns over it be 500k!

LNG24

We have a few communities (large sub-divisions) that did this, however the builder did retain the sewer and water system. He is making more money off the operation of the sewer district than he did off the sub division. The owners are sewing him to try to regain control of it and reduce their water and sewer bills now. There is BIG money in crap.

nitrox2595

try $300,000 per acre in NY!!!!!!!!!!!!

Wolf

So where is a good place now to buy land, for investment purposes. I want something that is going to go up, that I don't have to do anything with right now, but has development coming up close to it sometime soon.