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Thread: The cheap land "Palmer Cr." in Hope, Alaska......???

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    Default The cheap land "Palmer Cr." in Hope, Alaska......???

    Well the bids for the cheap land in lower "Palmer Creek Valley" just closed at 6:00 tonight, as did the Turnagain Arm Bluff tracks. The bids were opened at 7:PM tonight. I sure hope some of you got that land for 52% off Market Value, 10% down, 20 year financing at 5.2% interest. Sweet deal.

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    I submitted several Bids, and am hoping to get lot # 10 on the Turnagain Arm Bluff with a 360 degree view of the mountains.

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    Is this still going on? Where can I look into this more?

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    Quote Originally Posted by AKNoob View Post
    Is this still going on? Where can I look into this more?

    No. The bids closed Jan. 15'th at 6:PM I posted two threads here over the last month, this being the third thread.

    http://turnagaintimes.com/current%20...d-auction.html

    Also:

    The community might be called Hope for good reason.

    Residents are hoping to keep the place alive, but some worry that a land auction approved by the Kenai Peninsula Borough Assembly - an auction originally meant to grow the community - will actually have the opposite effect.

    Four years ago, Hope community members approached the borough assembly with an idea that they thought could attract young families to the area. The idea was for the borough to sell plots of land cheaply to families who wanted to make Hope their full-time home.

    With full-time residents and young families, the Hope school could meet its enrollment requirement, a requirement with which the community continues to grapple, and keep its doors open. With a full-time school and stable population, the community could grow exponentially.

    The borough agreed, and over the course of four years it took the steps needed to prepare for a sealed bid land auction. And at the Oct. 26 meeting, the assembly approved an ordinance that puts 22 lots up for auction, with minimum bids set at about $25,000 per acre.

    The problem, says a Hope-based real estate agent, is that the price is too high for many young families and a steal for older couples in Anchorage who are looking for a second piece of property or a retirement home.

    If the latter move in, the intended effect of growing the full-time community won't be achieved, residents say.

    Hope residents are also miffed that the assembly amended the terms of the land sale. Residents wanted prospective buyers be required to travel to Hope on a specific day to submit their bids. They thought the requirement would attract people truly interested in the community.

    Instead, the assembly chose to allow bids by mail. The auction will close Jan. 15. Lots range from 1.77 acres to 3.26 acres.

    Long-time community member and a Hope-Sunrise Advisory Planning Commission member Jim Skogstad now realizes the original goal likely won't be achieved.

    "The thought that if the land were made available to families who might want to move in was a good thought," Skogstad said. "In reality, that's probably not going to happen just because there's a lack of an economy in Hope.

    "There are three young families right here in Hope that are renting that would love to buy," Skogstad said. "But they can't afford $70,000 or $80,000 for a lot and then build something on it, too."

    Marcus Mueller, the borough's land management officer, said the minimum bid price resulted from fair assessments.

    "Once we had the project put together, we had an appraisal. We had a projected budget of around $45,000 per lot, but the average turned out to be about $80,000 a lot," Mueller said. "Hope is a very attractive place."

    David Vaughn a real estate broker who has worked in Hope more than 30 years, says he talks often with young local couples who want to purchase property in the community, but the reality doesn't meet their expectations.

    "The ones that live here year round that are that age, they typically don't have much money," Vaughn said. "They are maybe living on food stamps, just above starving, but they have a passionate desire to live here and make this their home."

    Vaughn said bringing wealthy residents to the community could actually help grow the community. Those new residents might hire locals to mow their lawns, fix their homes, blow leaves out of gutters and take care of other odd jobs, he said.

    "This community needs an economic base. Hope needs people to come here with money and hire locally. That could lead to a gas station, maybe a real grocery store," Vaughn said.

    As for the notion that the borough would hand over land, and grow the community in the way that residents want to grow it? That's out the window, Vaughn says.

    "People in Hope think that they run the world. They want to hold onto what was and try to figure out some magic way that the government is going to make it better, and that isn't going to happen.

    "I think they are legitimately trying to do the best they can, but they are trying to do the best they can for the people of Hope, not for the Kenai Peninsula Borough. And in the end, the people of Hope are not going to win," Vaughn said.

    "Frankly, I think they are checkmated."

    Andrew Waite can be reached at andrew.waite@peninsulaclarion.com.

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    Well all 22 lots had offers. I bid on two tracks, but I was not high bidder on either track, bummer.

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    So much for selling them next year for twice what you paid and buying a fancy new truck.

  8. #8

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    Quote Originally Posted by AGL4now View Post
    Well the bids for the cheap land in lower "Palmer Creek Valley" just closed at 6:00 tonight, as did the Turnagain Arm Bluff tracks. The bids were opened at 7:PM tonight. I sure hope some of you got that land for 52% off Market Value, 10% down, 20 year financing at 5.2% interest. Sweet deal.
    So how many of the Parcels actually sold at 52% of Market Value? Did any bids exceed Market Value?
    "96% of all Internet Quotes are suspect and the remaining 4% are fiction."
    ~~Abraham Lincoln~~

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    Quote Originally Posted by Akres View Post
    So how many of the Parcels actually sold at 52% of Market Value? Did any bids exceed Market Value?

    All they will disclose is that all 22 lots received bids, and that I was not high bidder on any that I bid on. So I am stuck with my 15.5 acres.

  10. #10
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    I heard that one party, might be an organization, purchases a few contiguous parcels with the plans of "wildlife sanctuary / viewing" operation. Any truth to that rumor from ...kpb.

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