Well, unfortunately, it looks like our camp is going to come to an end, one way or the other. 3 of the 5 members want out. It looks like my dad and I will be buying them out, providing they are not unreasonable with their $ demands.
Any idea on how to place a fair market value on a camp? The last comp in our area sold in Castle Garden for $30,000. It was much larger and on an acre and a half, but I don't believe it was in as good of condition.
Our camp is right on what I call "Front Street", which is what is actually 2nd street in Driftwood, Cameron County. We are waterfront to the Driftwood branch of the Sinnemahoning, so there is excellent river access. We even have steps down the bank to the stream.
Any idea how to determine a realistic market value? Any idea how long it would take to sell if we could not reach an agreement and have to put it on the market?
Some property details:
2 large rooms downstairs
@ 1200 square feet
New paint in 2010, 2 sides vinyl sided
Propane heater new in @ 2008
Here are a couple of pics
A view from the front door (water was really low!)