My mother bought the farm.

[NewWaveChick1981]

Literally. :) She's been haggling with my uncle (her brother) for over a year about what to do with my grandmother's farm. Granny passed away in 1991, and Mom and my uncle were the heirs to the property. When my grandfather died in the late 1950s, Mom, Granny, and Uncle inherited a third of the property each. When Granny died, they each got half of her third. At the time, the property was in a semi-rural area of upstate SC without a lot of growth. However, that area is growing VERY fast as a bedroom community for Charlotte. My uncle is just interested in the money---he cares nothing about the long-term growth and just wants money NOW. (Or should I say that his wife wants the money now??? :P) They finally settled on a price, and they will close in just a few days.

It's 45 acres in a prime location, and Mom may eventually decide to develop the property. A friend of hers she's known since childhood took her out to the really rural areas there and told her what property was selling for. Even the undeveloped land with no sewer, water or electrical access currently is selling for astronomical prices. Mom's making a great investment, although it will tap her resources for the near future, and it's going to do nothing but grow in value. Meanwhile, Uncle will have to pay capital gains taxes and rollback taxes on his part, so he'll get a lot less than the selling price. :) No problem, though---that's his own fault.

[idgiehkt]

1. sounds wonderful, nwc

45 acres, wow. I'm envious! :hi: I'm curious where it is; I am only a few miles from SC and areas like that really are considered 'close' to Charlotte, especially by people moving from much larger cities who are used to commuting. Sounds like a fantastic investment. My parents' land is situated inbetween two properties, one of which has just been sold for development and the other one on the other side was bought by the state of NC to put a bypass on. So I hope their investment will pay off as well. You can't go wrong buying land in the surrounding areas of Charlotte right now.

[NewWaveChick1981]

4. Thanks, idg!

:hi: York County, SC. Mom's sure the land will do nothing but go up in value, and I'm sure she's right. My money-grubbing uncle wants quick cash, and so he will get it. :) Mom's definitely doing the smart thing.

[idgiehkt]

7. yes she is

wow. The property next door...I am not sure how much land they have but they are selling 15 acres of it. I can't remember how much it is going for, possibly they will zone the front acres commercial and the rest residential. Damn straight she's doing the right thing, that land could be worth millions one day if it isn't already. Around here (1 county outside of Charlotte), you see all these little neighborhoods where the homes are on like 1/2 acre, if not less, and the homes are worth at least a couple hundred grand...your mom is a smart lady.

I just looked at it on a map to get an idea where it is...yep, she's got a good deal. A lot of folks moving in there don't think anything about an hour, hour and a half commute...and charlotte is just growing and growing. I think the town I am in is just a suburb of charlotte now, it has very little 'heart' of it's own left. (which is fine by me).

[av8rdave]

2. You scared me for a sec...that expression has a different meaning in the aviation business

[av8rdave]

3. Congrats to your mom, btw

[NewWaveChick1981]

6. Thanks!

:hi: :)

[NewWaveChick1981]

5. I know...

:hi: :P Thought that would be a catchy opening... Sorry to scare you. :hug: :)