Frustrated in Maryland

[Sparks45]

Thanks. I've been to Westminster twice for meetings with the county. It looks like a nice town - and it has a couple of stores my wife likes so I suspect we'll be regular visitors.
Charlie

 

[radioman]

Its really tough to deal with zoning, thats for sure. Did you ask what does it take to become a subdivision developer yourself? maybe take some of frustration out?

 

[Sparks45]

Its really tough to deal with zoning, thats for sure. Did you ask what does it take to become a subdivision developer yourself? maybe take some of frustration out?

I'm actually listed as the developer on the subdivision application (which cost $3,041 just to file ) We have a great builder/GC that is dealing with the county on an almost daily basis. I hear from him 3-4 times a week or more often if something comes up. I can only imagine what he's dealing with. Building codes are changing almost constantly...now we have to have fire sprinklers in the houses, to the tune of ~15k per house, county wants 8.5k per house to hook up to public sewer - and they will put water meters on the wells so they can charge us for whatever goes down the drain. Fortunately, they gave us a variance on bringing public water ~1,000' to the property from a nearby subdivision. That would've cost ~40k. The driveway will be only about 300' long but they say it has to have a name and road sign. I get to pay for the sign and installation...
BTW, I've noticed your user name "radioman". I'm a retired USN Radioman (Chief), thus "Sparks", and have wondered if you were a RM?
Charlie

 

[Coyote machine]

You're doing right by your son/dil, grandkids. Especially today with the economics given us by the greedy wall street bums/banks.
And counties and municipalities/states are mostly all broke and seek any way to squeeze more revenue out of taxpayers. You are a golden goose for them- they just throw every possible outrageous bill at you and dare you to not comply. Jeeze, no wonder you got your land for nothing, they use it as their loss leader to entice you to spend every last dollar until you have no place to go and no way to get there. Good luck- be careful- they'll tap a main vein if they can.

 

[PoorPlowboy]

We did look around, a lot. We'll be about 45 mins to an hour west of Baltimore and don't want to go any further west. Both son & DIL work in B'more - or "Balmer" as the locals pronounce it - so we're at the edge of their comfort zone for commuting. The other possible locations we looked at (Baltimore County and Howard County) are even worse than Carroll for bureaucracy. Not to mention that we got a really good deal on the land. Even after subdividing and developing it, I'll have less into it than the market value. The appraisal the bank did for the loan values the land, once subdivided, at more than double what it cost me and the completed project about 40% over their investment. That's why the bank is so ready to give us the construction loan. If I default, they can foreclose and easily recoup their money.

The appraisal is nothing more than a number the bank uses to keep their books looking good. The only "value" is what someone would be willing to pay. Virtually all properties that are not in foreclosure sales will appraise currently for more than asking price. Those behind the scenes are doing everything they can to keep the ship afloat, but they're bailing water. Those properties I just described are the only ones that look good to a potential buyer. All the rest owe much more than appraisal on existing homes. What happened? The price per acre hasn't changed anywhere. The appraisals have inflated to extreme levels though. That's due to that number setting the tax rate. You won't be taxed on what you paid for it, you will pay tax based on a number brought by someone who is paid to cater to someone's interest. If you aren't the one paying the appraiser, then they're working in someone else's interest.

Sorry for the rant. I recently bought some land and learned some lessons.

 

[Sparks45]

You're doing right by your son/dil, grandkids. ...


Jeeze, no wonder you got your land for nothing, they use it as their loss leader to entice you to spend every last dollar until you have no place to go and no way to get there. Good luck- be careful- they'll tap a main vein if they can.

Thanks for the encouragement. I figure that this way I not only get to see what my money will buy but I'll get to enjoy it - and spoil the heck outa the boys at the same time...houses will be ~100' apart...

That explains the pain I feel in my femoral artery...

Charlie

 

[Sparks45]

The appraisal is nothing more than a number the bank uses to keep their books looking good. The only "value" is what someone would be willing to pay. Virtually all properties that are not in foreclosure sales will appraise currently for more than asking price. Those behind the scenes are doing everything they can to keep the ship afloat, but they're bailing water. Those properties I just described are the only ones that look good to a potential buyer. All the rest owe much more than appraisal on existing homes. What happened? The price per acre hasn't changed anywhere. The appraisals have inflated to extreme levels though. That's due to that number setting the tax rate. You won't be taxed on what you paid for it, you will pay tax based on a number brought by someone who is paid to cater to someone's interest. If you aren't the one paying the appraiser, then they're working in someone else's interest.

Sorry for the rant. I recently bought some land and learned some lessons.

Sounds more like the voice of experience than a rant. I just got the tax bill and the appraised value dropped 32% from a year ago. it's still taxed at agricultural use rates, so it isn't much money. That'll skyrocket when the houses are built. Since I already live in Maryland, I'm used to the nanny state's taxes. Doesn't mean I like it but I couldn't convince my son to move to Texas.
Charlie

 

[Coyote machine]

Thanks for the encouragement. I figure that this way I not only get to see what my money will buy but I'll get to enjoy it - and spoil the heck outa the boys at the same time...houses will be ~100' apart...

That explains the pain I feel in my femoral artery...

Charlie

You're welcome! Let's not forget the 'old saying: no good deed goes unpunished!
So aside from the main vein being tapped, my advice is don't try sitting down for the next few years! I've heard the horror stories from my 'couzins' in Easton, MD, you know on the Eastern SHORE! Wow! they can't cut down a tree without an act of Congress, and then if they ever do get a permit to cut one down- then they have to plant an exact replica in it's place. Gives new meaning to the term: CRAZY!:confused2::confused3:

 

[LHS Inc]

You're welcome! Let's not forget the 'old saying: no good deed goes unpunished!
So aside from the main vein being tapped, my advice is don't try sitting down for the next few years! I've heard the horror stories from my 'couzins' in Easton, MD, you know on the Eastern SHORE! Wow! they can't cut down a tree without an act of Congress, and then if they ever do get a permit to cut one down- then they have to plant an exact replica in it's place. Gives new meaning to the term: CRAZY!:confused2::confused3:

If you live on the Eastern Shore or just about anywhere in the State you are feeling the effects of "Saving the Bay". For those that don't know it's the Chesapeake Bay.

You don't want to know what the farmers have to go through.

Even still I wouldn't want to live anywhere else.

 

[MasseyWV]

Welcome to TBN.