Coffeeville Lake Topics: Confusion on My Part

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	Name:	Harborcon -
	Subject:	Confusion on My Part
	Date:	2/8/2007 11:53:48 AM

Ron has done two appraisals on my property. The first, when I bought into the property 10 years ago, came in at $125k. This is for just under one acre of land with a 1950's very basic Jim Walters 2 b.r. 1 ba. cabin and a concrete block boathouse which was barely big enough to hold a johnboat (and that would be a 1950's model - it's too short for the one I inherited from my brother a few years ago). The lot is gently sloping and has just under 200' of shoreline. I had Lakedog update the appraisal two years ago when we were thinking about remodeling/renovating the cabin. His value had increased to only $145k, the reason being that we had lots of trees between the cabin and the water, and the cabin itself (he originally said the value would go from $125k to $150k if we demolished the cabin). He said the first indicator for value is the view (!); second is the topography; third is the waterfront footage. We received an unsolicited offer of $400k for the land and a neighbor with only 50' of waterfront, same approximate acreage, has been offered $300k. Appraisals apparently have no practical relation to what someone is willing to pay for the property.