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Old 09-27-2020, 02:57 PM   #1
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Real Estate Adventures

A number of things RE related lately - we sold an old set of apartments on contract, we are trying to figure out, based on weather and Covid-19, when we want to go south for the winter, and it dawns on me that Oregon has an estate tax that kicks in at about 1 million dollars. The fires here in Oregon and California make me feel like climate change really is happening, and those few extra degrees are resulting in fire and water/weather changes that are taking place at an accelerating rate. Population keeps climbing and I'm not in love with crowds. So maybe it is a good time to look at someplace other than Oregon as a primary residence, and SoCal isn't it. Prescott Arizona is pretty nice, but fire, water, cold...

Thinking outside the box I thought Idaho. Sure enough, I found a spot on the edge of a little town. Kind of a fixer, but cool garage and a big butte to stare at. Gotta say, I've seen places sort of like it, but nothing close to it. Ever. Whole series of pictures here:
https://www.realtor.com/realestatean...-82438?view=qv
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Old 09-27-2020, 03:27 PM   #2
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A number of things RE related lately - we sold an old set of apartments on contract, we are trying to figure out, based on weather and Covid-19, when we want to go south for the winter, and it dawns on me that Oregon has an estate tax that kicks in at about 1 million dollars. The fires here in Oregon and California make me feel like climate change really is happening, and those few extra degrees are resulting in fire and water/weather changes that are taking place at an accelerating rate. Population keeps climbing and I'm not in love with crowds. So maybe it is a good time to look at someplace other than Oregon as a primary residence, and SoCal isn't it. Prescott Arizona is pretty nice, but fire, water, cold...

Thinking outside the box I thought Idaho. Sure enough, I found a spot on the edge of a little town. Kind of a fixer, but cool garage and a big butte to stare at. Gotta say, I've seen places sort of like it, but nothing close to it. Ever. Whole series of pictures here:
https://www.realtor.com/realestatean...-82438?view=qv
Nice but a bit of a mess inside. But, then again, it's all about location. This place will keep you busy!

Oh, a friend of mine quit HP a couple of years ago and moved to Idaho and he loves it. He's divorced and just got tired of the traffic, congestion, etc of our Houston area.
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Old 09-27-2020, 03:28 PM   #3
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Made me look. Wow!

I like the property description -
Quote:
Gut it out or burn it down... The choice is yours. Great city lot with all utility connections. Detached garage. A photo is worth a million words!
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Old 09-27-2020, 03:39 PM   #4
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Before you make a move based solely on Oregon's estate tax consult with an attorney with estate planning experiance. A lot of Oregonions have more than $1m in assets, doubtless they have constructed their estates to minimize its impact.

There is a poster on CityData who boosts Stevenson, WA. In southern WA Ridgefield deserves a long look.

You really need to consider health care availability in Idaho. Boise vacinity, Cour d'Alene (near Spokane) wouldn't be an issue.
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Old 09-27-2020, 04:47 PM   #5
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Made me look. Wow!

I like the property description -
When I got to picture #6 I thought it was a recycler operation. #15 reminded me of a place called Montezuma's castle in NM back in the late 70's-early 80's that advertised 3 feet of highly valued guano in one of it's attics as a selling feature.
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Old 09-27-2020, 05:52 PM   #6
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Did you notice there is a sale pending? You better jump fast if you want this!
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Old 09-27-2020, 06:00 PM   #7
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Yeah just kind of a fixer.
You could bring all the recyclables to town for a few extra bucks.
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Old 09-27-2020, 07:00 PM   #8
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in Oregon you get 1 million per person in a Married situation. Just went through this with my late wife. We transferred in 1 million to her trust just days before her passing. That exclusion passes on to me. Then we have money in a Trust for me. So 2 million total. IIRC you are well beyond that. A lawyer may have other strategies

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Old 09-27-2020, 07:04 PM   #9
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When I got to picture #6 I thought it was a recycler operation. #15 reminded me of a place called Montezuma's castle in NM back in the late 70's-early 80's that advertised 3 feet of highly valued guano in one of it's attics as a selling feature.
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Old 09-27-2020, 07:27 PM   #10
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Did you notice there is a sale pending? You better jump fast if you want this!
Sheesh - that pending popped up after I posted I think! Right on the outer edge of the little 2500 pop. town (shrinking) and at the 5500' elevation there are a few other little concerns - like a 1.5 hour drive to Costlyco and a lack of sunshine. But with vision, a scoop shovel and a big honking dumpster... Strip the interior out, replumb and wire, new rock - it's a satisfying challenge.
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Old 09-27-2020, 08:01 PM   #11
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Well, at least nobody will be asking "So what do you DO all day"?
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Old 09-28-2020, 10:45 AM   #12
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I would want to know the history: previous ownership. any bank mortgage, taxes owing?
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Old 09-28-2020, 10:58 AM   #13
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+1 but it looks like it may have good bones, especially the house... total gut job at best, in which case it may be better to just demolish and rebuild... at least that way you'll know what you have (that's what we did and no regrets).
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Old 09-28-2020, 11:12 AM   #14
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'Fessing up here - too many other negatives as far as the area goes and no compelling view or "soul" to showcase. Pretty amazing ad to just run across though, and I think gutting it and maybe even stripping the siding one could end up with a new house for way fewer bucks. It looks straighter than our house did back when we started the re-do in '94.
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Old 09-28-2020, 12:18 PM   #15
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Population keeps climbing and I'm not in love with crowds. So maybe it is a good time to look at someplace other than Oregon as a primary residence, and SoCal isn't it. Prescott Arizona is pretty nice, but fire, water, cold...

Thinking outside the box I thought Idaho.
I don't know how "outside of the box" you are thinking as I have heard that a lot of folks from Cali (especially those with lots of $$) visited Idaho and have decided to stay. So, staying away from the crowds could be quite the challenge in the not so far away future.
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Old 09-28-2020, 02:38 PM   #16
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'Fessing up here - too many other negatives as far as the area goes and no compelling view or "soul" to showcase. Pretty amazing ad to just run across though, and I think gutting it and maybe even stripping the siding one could end up with a new house for way fewer bucks. It looks straighter than our house did back when we started the re-do in '94.
Wow! To me, it looked like a total nightmare. I would not touch that with a ten foot pole, even if you gave it to me for free along with $100K for starter money to fix it up, and also paid the taxes and insurance on it for the first ten years.

But that just illustrates the saying, "Different strokes for different folks", I suppose. That house would be perfect for the right, project-oriented person. It would give such a person plenty of projects to work on for the next several decades. Just not my cup o' tea.
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