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166 Panther Lane
Ellenburg, NY 12933
Daniel Tesini with Landvest, Inc., original listing - (518) 576-2297
$795,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
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Property Description
Panther Lane Forest offers an attractive 868+-acre early successional forest and recreation-oriented land investment with over a mile of frontage along town-maintained Bigelow Road (Panther Lane). The property includes an existing camp (On the Wing Grouse Camp) with an outdoor picnic pavilion and an extensive recreational trail network. The forest has been managed to maintain early successional and field edge habitat for upland bird species like grouse, woodcock, and turkey. Small field openings dotted with apple trees attract deer. The property has historically hosted the annual New York Grouse and Woodcock Hunt fundraiser sponsored by the Ruffed Grouse Society to raise money for grouse and woodcock habitat preservation. The timber resource offers a young, vigorous, well-stocked mixture of hardwood (cherry, birch, maple, aspen) and softwood (spruce/fir) species. A combination of good access, interior trail network, and gently rolling terrain support future use and enjoyment of the property with excellent long-term potential for timber growth and appreciation. Several small streams, headwaters of the North Branch of the Great Chazy River, provide a water resource and enhance wildlife habitat. The property is enrolled in New York's 480A forest tax program. On a clear day, views of the Montreal skyline are visible from the property. The area surrounding the property is composed of a mixture of forestland, farms, camps, wind energy, and rural residential uses. Public boat launches on Upper Chateaugay Lake and Chazy Lake are within a 15-minute drive. Proximate primary population centers include Malone (30 minutes), Plattsburgh (45 minutes), Saranac Lake (1 hour), and Montreal (1.5 hours).
Property Information
Lot Size
868 acre(s) square ft
Property Type
Land-Unimproved Land
Year Built
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MLS Number
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Location
Address
166 Panther Lane
City
Ellenburg
State
NY
Zip Code
12933
County
CLINTON
Listing
Name
Phone
(802) 881-5525
Office Name
Office Phone
(518) 576-2297
Agent Name
Daniel Tesini
Agency Phone
(518) 576-2297

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.