Chilhowee Lake Topics: lot values

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	Name:	boataholic -
	Subject:	lot values
	Date:	5/8/2006 2:02:18 PM

Just to mess with the $1500 ft theory, consider these: The Village, a new development near the Harbor in the Overlook area of the south side of the alke, is selling 1500-1800 ft homes on 50-60 foot lots for over $500,000. Even assuming a high price of $200,000 for the house and "amenities", that is $5000-6000 a foot. It isn't an aberration either, in Lake Martin RV Resort (old Bama Park), lots with semi-permanent mobile homes are going for $200,000. Assuming $35,000 for the mobile home and decks, etc, that is over $5000 a foot. We are getting close to the time when 2 bedroom cabins on 150 ft lots will be bought for $500,000, torn down, and divided up 3 lots.