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Started By
Message
Looking at homes on False River.
Posted on 5/16/15 at 5:47 am
Posted on 5/16/15 at 5:47 am
I've heard that property on false river isn't actually owned, instead it is leased. Can someone give me a little more info on this. Is it only certain parts of false river? Thanks
7
Posted on 5/16/15 at 5:52 am to ElleshooTGR
That's false
Posted on 5/16/15 at 6:41 am to ElleshooTGR
Do the homes really exist?
Posted on 5/16/15 at 6:59 am to ElleshooTGR
Maybe real estate on false river is all in your mind.
Maybe it never existed in the first place.
Maybe it never existed in the first place.
Posted on 5/16/15 at 6:59 am to RebelOP
quote:
thats false
Good one.
You may have heard that because most land around there was bought decades ago by folks that own 10+ lots and only lease because it's basically printing money.
There are places to buy though. My godparents bought a house ~ 5 yrs ago. Non-island south side.
Posted on 5/16/15 at 7:03 am to ElleshooTGR
Its boolean
Posted on 5/16/15 at 7:05 am to ElleshooTGR
You can buy any property you can afford. The ownership/management of the lake can be a pissing match b/t the state and Corps of engineers sometimes, but it doesn't affect the 'dry' property except the state and Corps do limit how far out you can build a seawall.
Posted on 5/16/15 at 7:12 am to ashy larry
I think I am being misunderstood. I was under the impression that when you buy the home, the lot is leased to the home buyer.
Posted on 5/16/15 at 7:18 am to ElleshooTGR
NO. You can buy the property. There isn't some restriction. That being said, that is legit some of the most expensive property in LA. Like French Quarter expensive. Get your check book out.
Posted on 5/16/15 at 7:20 am to jbgleason
(no message)
Posted on 5/16/15 at 7:22 am to ElleshooTGR
quote:
False River
Is a misnomer. It's really just Poo Poo Lake.
Posted on 5/16/15 at 7:22 am to jbgleason
This is what some of the homes for sale say in the description.
quote:
Home is located on leased land with lease paid through October 2015. Lease is $3000 year with a five year term.
Posted on 5/16/15 at 7:33 am to ElleshooTGR
Why are you looking at False River over the Diversion Canal?
Posted on 5/16/15 at 8:43 am to ElleshooTGR
$200k a lot will get you a lot of bones in rent
Posted on 5/16/15 at 8:45 am to ElleshooTGR
There are some instances of leased land but most of it is bought/sold these days b/t individuals. Now it is typically sold per linear foot of river frontage. Low end would be around $3k (no seawall, shallow lot) and I know some that have sold around 5k (deep lot in new roads) but I think the going rate these days for a decent lot is around $3,500 to $3,900.
Decades ago, the land was dirt cheap and no one wanted to own it so a handful of families owned large tracts it. A lot of these tracts have been subdivided and sold off by the heirs/owners.
Decades ago, the land was dirt cheap and no one wanted to own it so a handful of families owned large tracts it. A lot of these tracts have been subdivided and sold off by the heirs/owners.
Posted on 5/16/15 at 8:58 am to ElleshooTGR
That is because a lot of the homes/lots are leased as camps.
Not many people are willing to sell bc it is prime real estate. They really don't need to bc it'll lease all day long.
Not many people are willing to sell bc it is prime real estate. They really don't need to bc it'll lease all day long.
Posted on 5/16/15 at 9:16 am to jbgleason
quote:
That being said, that is legit some of the most expensive property in LA. Like French Quarter expensive. Get your check book out.
This is a wonderfully classic OT type declaration. Nice work. Have an up vote.
Posted on 5/16/15 at 9:21 am to ashy larry
Right after Katrina, the Island side was averaging $3500 per river foot and the New Roads side was $5500 per river foot. It took a value dump around 2009 but the largest realtor in PC Parish told me last week that values had come back up and getting back to those levels. Sea wall, pier, etc all play a roll in price. There are some minimum footage restrictions (total lot sq footage based on septic system restrictions) that usually work out to 50' river feet minimum.
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