"Funny" Lakeside Village Sales

"Funny" Lakeside Village Sales

Posted in the Blairsville Forum

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AnotherOldTimer

Jasper, GA

#1 Sep 14, 2007
I've noticed in the tax records that many times John Kiernan bought a house in Lakeside Village and then sold the house the same day for tens of thousands in profit. Does anyone know what's going on in the community?

Since: Aug 07

Douglas, GA

#2 Sep 15, 2007
Well if it is the truth the 30% tax will kill him....
AnotherOldTimer

Jasper, GA

#3 Sep 15, 2007
misspms wrote:
Well if it is the truth the 30% tax will kill him....
It's true -- it's in the official tax records. I'd pay 30% tax on, seemingly, easy money.

Since: Aug 07

Douglas, GA

#4 Sep 15, 2007
Well 30% is just not on his profit, but the whole deal..... I am sure he gave Uncle Sam a chunk,lol
keepwishin

Fredericksburg, VA

#5 Sep 17, 2007
and your point? does it really even matter to you what hes doing?
AnotherOldTimer

Jasper, GA

#6 Sep 18, 2007
keepwishin wrote:
and your point? does it really even matter to you what hes doing?
It appears by the tax records that he has a real estate company that's operating at the community. If so, then there are ethical questions if there are misrepresentations. Maybe the covenants require the residents to sell to him. Does he turn the profits back into the homeowners association to keep the monthly dues low? Does he own the association? etc. etc. etc.
keepwishin

Charlottesville, VA

#7 Sep 18, 2007
he is doing what he is doing and he has done it for a loooong time now.so i dont see why all the sudden you think its any of your business, obviously he knows how to do it. I dont hear any complaning coming from the residents of LakeSide. They all must be pretty damn happy.
AnotherOldTimer

Jasper, GA

#8 Sep 18, 2007
keepwishin wrote:
he is doing what he is doing and he has done it for a loooong time now.so i dont see why all the sudden you think its any of your business, obviously he knows how to do it. I dont hear any complaning coming from the residents of LakeSide. They all must be pretty damn happy.
Maybe those that sold to him didn't know he made tens of thousands of dollars in a matter of hours. Maybe those that sold to him didn't know he had someone in the wings ready to pay tens of thousands more that same day and would have paid the tens of thousands to the first seller. Did the first sellers list their property with him? Did he properly represent those sellers?

Since: Aug 07

Douglas, GA

#9 Sep 18, 2007
Good point! we had somebody do it to us, we gave them a great deal on some property b/c we were told he was going to build a house for his family. Well..... He sold it for what we knew we could have sol it for the following month. We thought we were helping them build a home for their family, little did we know we were being lied to. Oh well lessons learned!!!
keepwishin

Charlottesville, VA

#10 Sep 19, 2007
yepp bunch of stupid fucks i guess. all i know is this topic needs to be dropped. jealousy gets you know where in life. from what i gather the LakeSide community couldnt be any happier they look up to and admire John Kiernan. too bad you guys dont have people looking up to you right? yea thats why you gotta bullshit on other people.
AnotherOldTimer

Jasper, GA

#11 Sep 19, 2007
keepwishin wrote:
... this topic needs to be dropped.
Wanting the topic dropped as opposed to changing the tone of the topic can imply that one doesn't want the community to know that there have been a lot of quick flips of houses where the sellers could have made tens of thousands more on their houses.
AnotherOldTimer

Jasper, GA

#12 Sep 19, 2007
It looks like he may have developed the subdivision himself and wrote into the covenants that everyone must sell to him. If that's the case, it gives him a lot of say-so in who gets to live in the subdivision. It also gives him a lot of say-so on how much you get to sell your house for. Does he get a commission in addition to making over 10% on each transaction?
keepwishin

Charlottesville, VA

#13 Sep 19, 2007
of course he gets to choose who lives in there. he isnt going to let a 19yr old come in a buy a house in the community just because thats not what it is for. when he was developing the community he developed it for a reason. so the elders would have a nice quite environment to live in. WHY do you care if he is getting commission and so on? sounds to me your jealous he thought of the idea first and hes the one with the money in his pocket. so stop bullshittin' on him and go develope your own community. because your approval isnt needed for anything, he has made it this far a long without you i promise he doesnt need you now!
AnotherOldTimer

Jasper, GA

#14 Sep 19, 2007
keepwishin, it sounds like you know him and the arrangement. Let's see, he develops and sells the original property. He gets to buy the houses at a below-market price. He gets to sell the houses (and most of the time, immediately) at a market price. The real estate company he owns gets a commission from the seller that sold him the house at the below-market value. I guess you're right -- "hes the one with the money in his pocket. "
AnotherOldTimer

Jasper, GA

#15 Oct 1, 2007
It would be interesting to see the covenants of Lakeside Village.
What-kinda-deal- is-this

Jasper, GA

#16 Oct 2, 2007
keepwishin wrote:
of course he gets to choose who lives in there. he isnt going to let a 19yr old come in a buy a house in the community just because thats not what it is for. when he was developing the community he developed it for a reason. so the elders would have a nice quite environment to live in. WHY do you care if he is getting commission and so on? sounds to me your jealous he thought of the idea first and hes the one with the money in his pocket. so stop bullshittin' on him and go develope your own community. because your approval isnt needed for anything, he has made it this far a long without you i promise he doesnt need you now!
I'll post what someone posted on another thread. The post said the article was in a Dept. of Federal Housing newsletter:
"Georgia Commission on Equal Opportunity Obtains
$20,000 Settlement from Homeowners’ Association
Levan v. Lakeside Village Association
In May 2005, Terris Levan and his wife sought to
purchase vacation property for themselves and their two children, who were ages 10 and 13. The Levans offered to purchase a parcel in Lakeside Village, a lakeside community in Blairsville, Georgia. However, the Lakeside Village Homeowners’ Association (LVHA) had a policy that prohibited persons under 16 years of age from residing in Lakeside Village. As a result, LVHA denied the Levans’ application.
Under the federal Fair Housing Act and the Georgia Fair Housing Act, it is unlawful for housing providers to exclude families with children, unless the property qualifies as housing for older persons, as defined by the
Fair Housing Act. Lakeside Village did not qualify as housing for older persons.
In August 2005, the Levans filed a complaint with the State of Georgia Civil Rights Department - Georgia Commission on Equal Opportunity (GCRD-GCEO), an agency that participates in the Fair Housing Assistance Program, alleging that LVHA violated the federal and Georgia acts when it denied their application. As required by the acts, the GCRD-GCEO attempted to reach a voluntary resolution of the matter. In February 2006, the parties agreed to resolve the complaint by entering into a conciliation agreement. As
part of the agreement, LVHA agreed to pay the Levans $20,000 and undergo fair housing training. "
He can't keep 19 yr olds from living in the subdivision. He DOESN'T get to choose who lives thers.
GoodInfoThanks

Jasper, GA

#17 Oct 4, 2007
Good info. It's too bad that most of the people that are selling for less than they could have don't use a computer to find out how they could have made more money. Hopefully, someone will spread the word in that subdivision.
hereigoagain

Murphy, NC

#18 Oct 9, 2007
Old folks, retiring and living in trailers.

Looking down their noses at poor folks, working and living in trailers.

Oh, I forgot, if you pay more for it, it is considered a "manufactured home"
AnotherOldTimer

Jasper, GA

#19 Oct 9, 2007
hereigoagain wrote:
Old folks, retiring and living in trailers.
Looking down their noses at poor folks, working and living in trailers.
Oh, I forgot, if you pay more for it, it is considered a "manufactured home"
Very good observation.
Lakeside Resident

Canton, GA

#20 Mar 2, 2008
I know there is freedom of speech in this country,
but it would be nice if you had the facts before
you said anything about a situation.

Very few of us are well off, many residents are
still working because the cost of living is more
than their social security checks/pension (if their lucky to have one). I feel sorry for all of
you that have nothing better to do than dis
something/someone you know nothing about.

As for the age requirement, we are a 55 and over
adult retirement community. Get the facts guys.

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