Church spends $350,00 on land; develo...

Church spends $350,00 on land; developers buy property for $1.6 mil...

There are 12 comments on the The Gaston Gazette story from Sep 17, 2010, titled Church spends $350,00 on land; developers buy property for $1.6 mil.... In it, The Gaston Gazette reports that:

Real estate transactions represent transfer of real property recorded with the Gaston County Register of Deeds.

Join the discussion below, or Read more at The Gaston Gazette.

TELL ME WHY

Gastonia, NC

#1 Sep 17, 2010
I can NOT belive that someone paid 1.6 MILLION DOLLARS for EAGLE PARK!!!

WHY????
lazy eyed sue

Gastonia, NC

#2 Sep 17, 2010
don't you know it's so worth it?

Since: May 09

Location hidden

#3 Sep 18, 2010
TELL ME WHY wrote:
I can NOT belive that someone paid 1.6 MILLION DOLLARS for EAGLE PARK!!!
WHY????
The original buyer paid that for the raw land. Most of the development costs have already been incurred. The new buyer got a bargain.
Local Yocale

Gastonia, NC

#4 Sep 18, 2010
Robert Stowe wrote:
<quoted text>The original buyer paid that for the raw land. Most of the development costs have already been incurred. The new buyer got a bargain.
Pray tell who is going to buy one of those once they are built? Is it really a deal if you can't sell them. Perhaps a long term investment at best.
Joe

United States

#5 Sep 18, 2010
It's just how developers operate. They buy some overpriced land and borrow all they can borrow and pay themselves and their other businesses a boat load of money for doing nothing and watch the whole thing get repossessed. When it fails, they blame it on the economy and they laugh all the way to their big house on the lake or in a country club while riding in their $150,000 car.

Since: May 09

Location hidden

#6 Sep 18, 2010
Local Yocale wrote:
<quoted text> Pray tell who is going to buy one of those once they are built? Is it really a deal if you can't sell them. Perhaps a long term investment at best.
This is a nice piece of land. Most of the infrastructure is already in. The real estate depression will end eventually and these folks will make some money. You may not like the style of the existing development but everyone is different.
Stopik

Charlotte, NC

#7 Sep 19, 2010
Robert Stowe wrote:
<quoted text>This is a nice piece of land. Most of the infrastructure is already in. The real estate depression will end eventually and these folks will make some money. You may not like the style of the existing development but everyone is different.
I'd say most people don't care for the train waking them up during all hours of the day or night.

When one buys a home/condo, they generally like to be free of trains from sight and sound.

Since: May 09

Location hidden

#8 Sep 19, 2010
Stopik wrote:
<quoted text>
I'd say most people don't care for the train waking them up during all hours of the day or night.
When one buys a home/condo, they generally like to be free of trains from sight and sound.
If someone doesn't want to hear trains they should skip Belmont.
Dow Jones

Charlotte, NC

#9 Sep 20, 2010
Robert Stowe wrote:
<quoted text>This is a nice piece of land. Most of the infrastructure is already in. The real estate depression will end eventually and these folks will make some money. You may not like the style of the existing development but everyone is different.
I look at investments base on their potential. The community is intrinscially flawed based upon it's initial design. For that amount of money there are much higher return investments out there in the this market. Overall poor investment due to limited potential.
Redneck Yankee

Charlotte, NC

#10 Sep 20, 2010
You are right Robert. They got a good deal.
slags1

Belmont, NC

#11 Sep 20, 2010
Eagle Park is a bust. Train track noise ruined the idea. Pre-existing/occupied Homes already for sale by owner. Unless they drop a pool to put Pinebrook out of business you won't sell anything. The original plans and business/retail layout was great - too bad it was all a hoax.
Fireman Policeman EMT

Gastonia, NC

#12 Sep 20, 2010
slags1 wrote:
Eagle Park is a bust. Train track noise ruined the idea. Pre-existing/occupied Homes already for sale by owner. Unless they drop a pool to put Pinebrook out of business you won't sell anything. The original plans and business/retail layout was great - too bad it was all a hoax.
and what about the one lane roads, limited parking, and lack of egress? think emergency vechicles, garbage trucks, moving trucks, landscaping trailers and monster trucks. What a nitemare!

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