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What I’m reading about land: APA closing boat launch and access to Upstate New York’s Eagle Lake?

Mirror Lake in Lake Placid, right in the heart of the Adirondacks

 

It’s been a heck of a year so far, with interest rates staying much higher, for much longer than many expected. Inflation continues to soar (What…gas you say is expensive? Why yes, which means I also can’t afford to fill up my combine to harvest the corn, etc, etc), and many real estate markets going negative (Austin, how are you?), with lots of multifamily real estate investors also blowing up (really, when were floating interest rates ever a good idea?).

While it’s not all bad, it’s a mixed bag across the board.

Mortgage demand from homebuyers drops to a 28-year low as interest rates soar – “Mortgage rates jumped last week to the highest level in 23 years, pushing mortgage demand from homebuyers to the lowest level in 28 years.” My take: the Fed has to cool down the economy in order to stem inflation. This is already heavily affecting commercial and residential, and in many places, it’s making it more difficult to sell land. I have no idea how this will turn out, but it’s not looking all that wonderful.

To spur affordable housing, the federal government is selling land for dirt cheap along these same lines, the government is doing all it can to drive down the cost of housing. Breaking the economy? Check. Flooding the market with some land? Check.

Scams, scams and more scams

The next articles harken back to the recent blog post we wrote about how scammers are fraudulently selling other people’s land. This is pretty scary – it worries me that, without some real vigilance by title companies, attorneys and agents, some folks could lose their land. Thankfully, there is recourse to get your land back, but it would be costly and time consuming.

A rising fraud: Scammers are selling other people’s real estate  – “Elizabeth Blosser, vice president of government affairs at the American Land Title Association, said the scam is not a common one but is ‘on the rise.’ She said members across the country are reporting the fraud.

Las Vegas auto dealer nearly becomes a victim of real estate theft in this situation, someone out of Nigeria attempted to sell this man’s land in Colorado. The title company (thankfully) sent the paperwork to the man and he immediately stopped the sale.

Connecticut landowner claims a $1.5 million home is being built on his vacant lot after a fraudulent sale

 

Lastly, the Adirondack Park Agency (APA) is trying to shut down the Eagle Lake boat launch for trailered boats. If you’ve ever been to the Adirondacks in Upstate New York, you know just how amazingly beautiful it is. Honestly, I think Upstate New York is the best kept secret in the entire United States – that’s why we love to buy land here.

Well, Eagle Lake is an almost 500 acre lake near Ticonderoga and Schroon Lake in the middle of the Adirondacks. The Adirondack Park Agency, or APA, has authority over much of the area – an area comprised of 10,000 lakes, 30,000 miles of rivers and streams and 6.1 million acres! It’s massive. And it’s beautiful. Places like Mirror Lake (where Lake Placid is),. Lake George, Tupper Lake, Saranac Lake – many, many beautiful lakes. Whiteface mountain in Wilmington, NY is also inside Adirondack Park.

Recently, we bought some vacant land there near Crown Point, NY, and as I drove through there last week, there were signs everywhere telling the APA not to shut down the launch. This is super unpopular with the people for obvious reasons. Even the Ticonderoga Town Board and the Essex County Board of Supervisors passed resolutions against closing it.

One thing is sure: residents aren’t going to go down without a fight. Folks are suing the Adirondack Park Agency to prevent it from shutting the boat launch down. Let’s hope the APA backs down, but it doesn’t look hopeful.

About Haystack Land Company

We buy land in Upstate New York, Texas, Georgia and around the United States. We started Haystack Land Company with the core value of “integrity above all else” in mind, and it reaches into everything that we do. Our goal is to do right by our customers, business partners and providers — and to treat them with the care and respect that every individual deserves.

If you own land and you’re interested in selling, please get in touch with us.

 

 

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