Re: The dead horse saga.....

Posted by Goose on March 12, 2018 at 07:37:38 from (166.182.84.74):

In Reply to: Re: The dead horse saga..... posted by Traditional Farmer on March 12, 2018 at 05:00:29:

Not in our county. We basically have two opposing situations in the county. The eastern third is declared a water conservation district because of a shortage of ground water, and residences are limited to three per quarter section. Even at that density some houses experience an occasional water curtailment.

The western two thirds of the county taps into the Oglalla Aquifer and has ample water for center pivot irrigating. In that area some land is seen as too valuable as farm ground to waste on houses.

The dividing line is a river that runs north/south through the county. What compounds the problem is the east edge of the county abuts the county that contains Lincoln, the state capital. There is also a 1400 acre lake nearby. City folks flock out from Lincoln thinking they'll build an acreage near the lake. Some go ahead and buy property thinking to build on it, and then find our zoning regulations won't allow them to build. They then try to sue the county for "denying them the use of their land". We have three lawsuits pending right now. And our current zoning regulations have been in effect since 2007.

"Let the buyer beware" is the credo of the real estate business. The onus is on the buyer in any real estate deal to do his homework and determine that he will actually be able to do what he intends with a particular piece of property if he buys it.

One poor guy paid $480,000 for 80 acres of non-tillable ground, thinking he'd sub-divide it into eight 10 acre plots, sell six of them, and build houses for himself and his mother-in-law on the remaining two. After he'd bought it, he found out the adjoining 80 acres that make up the quarter section already had the entire quarter section maxed out on houses and our zoning regs wouldn't allow him to build even one house. A couple of hours of research ahead of time would have prevented him from making that blunder--but all he could see was all of the money he was going to make by selling the six plots.

The real estate business isn't for the faint-hearted. You can make big money overnight and you can lose your arse overnight.

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