RV resort lot sales booming?

[TJ&LadyDi]

165 ?

Yikes, I guess we'll need to clean up our act. Thanks for the heads up.

We'll be glad to see you, Renee.
TJ

 

[redbaron]

@TJ&LadyDi - I looked at the Polson website, and almost fell out of my chair seeing a 45 x 75 lot selling for $250k+ I assume on top of that there is a monthly/annual HOA fee.

Can you give a brief rundown of what is included in the resort? There wasn't a lot mentioned on the website other than a fully furnished fitness center.

Location Location Location I am aware of---and it is a great location at that, but I am still floored at the price per foot compared to what land sells for around the valley.
What additional value is there in the resort?

 

[TJ&LadyDi]

@TJ&LadyDi - I looked at the Polson website, and almost fell out of my chair seeing a 45 x 75 lot selling for $250k+ I assume on top of that there is a monthly/annual HOA fee.

Can you give a brief rundown of what is included in the resort? There wasn't a lot mentioned on the website other than a fully furnished fitness center.

Location Location Location I am aware of---and it is a great location at that, but I am still floored at the price per foot compared to what land sells for around the valley.
What additional value is there in the resort?

Well, Ronnie, I kinda have to agree with you. We're a bit surprised about the recent prices too. That said, "value" is in the eye of the purchaser. All I can say is that our lot appears to be "worth" quite a bit more now than we have invested in it. And, we didn't buy it as an "investment."

More to your point regarding resort amenities and costs, here's a brief rundown. First, what you are seeing in the lot prices reflects more than just raw land cost. They all have utilities (water, sewer and electric) installed. Most include significant improvements such as high-capacity (8* thick, reinforced) RV parking slabs, stamped concrete surrounding surfaces, underground propane tanks, full outdoor kitchens, patio areas with propane fire pits, etc. A few have some type of shade coverings for the RV as well.

There is a $140 per month HOA that covers common-area maintenance, water and sewer service (electric is paid by the lot owner), WIFI, daily garbage pick-up service, mail service (including private mailboxes) and more. Lot landscaping is either maintained by the owner, or done by a contract landscaper. And, of course, there are those pesky property taxes collected by the county.

I suppose the "value" of owning such a property depends on the viewpoint of the purchaser/owner. And, in the past few weeks at least, it seems like purchasers are seeing value in their eyes. We bought our lot back in 2016 and did so because we liked the area and the people in the resort. The ability to come here whenever we wanted was a value for us, as was being able to configure our space exactly as we wanted to. We have, periodically, rented our lot out when we were not here and received a fair amount of income. I think that is coming to an end for us as we want the freedom to have the lot available for our use whenever we want it. And, to some extent, having had a couple of renters this past summer that did not respect the property is reinforcing that decision. Rental use always comes with increased maintenance issues.

So, that's my best effort to answer your questions. Are the properties at Polson worth the price being asked? Only a potential purchaser can assess that.

TJ

 

[sheridany]

On the topic of lot sales, what’s really weird is I am not seeing that at MCC in Indio unless they are not updating the data or they are just overpriced to start.

 

[J&JD]

Well, Ronnie, I kinda have to agree with you. We're a bit surprised about the recent prices too. That said, "value" is in the eye of the purchaser. All I can say is that our lot appears to be "worth" quite a bit more now than we have invested in it. And, we didn't buy it as an "investment."

More to your point regarding resort amenities and costs, here's a brief rundown. First, what you are seeing in the lot prices reflects more than just raw land cost. They all have utilities (water, sewer and electric) installed. Most include significant improvements such as high-capacity (8* thick, reinforced) RV parking slabs, stamped concrete surrounding surfaces, underground propane tanks, full outdoor kitchens, patio areas with propane fire pits, etc. A few have some type of shade coverings for the RV as well.

There is a $140 per month HOA that covers common-area maintenance, water and sewer service (electric is paid by the lot owner), WIFI, daily garbage pick-up service, mail service (including private mailboxes) and more. Lot landscaping is either maintained by the owner, or done by a contract landscaper. And, of course, there are those pesky property taxes collected by the county.

I suppose the "value" of owning such a property depends on the viewpoint of the purchaser/owner. And, in the past few weeks at least, it seems like purchasers are seeing value in their eyes. We bought our lot back in 2016 and did so because we liked the area and the people in the resort. The ability to come here whenever we wanted was a value for us, as was being able to configure our space exactly as we wanted to. We have, periodically, rented our lot out when we were not here and received a fair amount of income. I think that is coming to an end for us as we want the freedom to have the lot available for our use whenever we want it. And, to some extent, having had a couple of renters this past summer that did not respect the property is reinforcing that decision. Rental use always comes with increased maintenance issues.

So, that's my best effort to answer your questions. Are the properties at Polson worth the price being asked? Only a potential purchaser can assess that.

TJ

Just to add a bit:
The views at Polson are gorgeous and the grounds are beautiful. The lots are also good sized. Just a really nice place. It is also not real large so there is a finite # of sites. If we were in the market for a site in that area, the prices wouldn’t seem out of place to us. And besides, where else will you get to to have a “fireside chat“ with TJ!