Small waterfront home in Graford, TX--- $285k USD

[clinebarger]

The US Army Corps of Engineers (USACE) manages land in Graford, Texas, including areas around the Grapevine Lake. While the Corps does not explicitly offer land leases in the traditional sense, they do allow adjacent landowners certain privileges and require permits for various activities on government-owned land.

Here's a more detailed breakdown:

• Grapevine Lake:
  The USACE manages land surrounding Grapevine Lake, including fee land and flowage easements.
  • Permitting: They may need permits for certain activities like mowing, placing waterlines, or constructing fences.
    
    
  • Pedestrian Access: They can have unrestricted pedestrian access to public land, except for restricted areas.
    
    
  • Gate Installation: With permission, they can install gates in the boundary line fencing for pedestrian access only.
• Fee Land:
  The Corps manages fee land, which is land they own outright, and may have specific restrictions or procedures for leases to provide services on this land.
  
  
• Flowage Easements:
  These are privately owned lands where the Corps has acquired the right to flood, but the land can still be used, subject to certain restrictions.
  • Mowing: To reduce fire hazards, but with restrictions.
    
    
  • Waterlines: To withdraw water for private use, requiring permits from the Dallas Water Utilities and the USACE.
    
    
  • Structures: They can generally construct structures on flowage easement land, but not for human habitation, and all structures require approval from the USACE.
• Contact Information:
  For more information, you can contact the Fort Worth District Water Management at the Sam Rayburn Project Office.

In essence, the USACE does not offer land leases in the way a private landowner would. Instead, they manage the land and provide permits and regulations for adjacent landowners to access and use the land, while protecting the natural and recreational resources of the lake and reservoir.

Graford isn't anywhere near Grapevine Lake, It's near Possum Kingdom Lake.

 

[SC Maintenance]

I was going to say - land lease on waterfront resevoirs is pretty common, and generally renewed unless they have plans to expand the resevoir. I would not buy one for $300K, but its unlikely to need liquidation when the lease is up - will just be renewed, albeit at a higher rate.

Only an hour or so from Fort Worth. Would be a nice getaway.

 

[gfh77665]

You'll get soaked good on property taxes

People LOVE to jab at TX like that, but once again you need to calculate the overall tax load, not just "property taxes". If you don't thats really skewed. TX has no state income tax, for starters. Do all the math, don't just cherry pick something.

 

[Zee09]

People LOVE to jab at TX like that, but once again you need to calculate the overall tax load, not just "property taxes". If you don't thats really skewed. TX has no state income tax, for starters. Do all the math, don't just cherry pick something.

Yeah like reading further down the thread before commenting

 

[edyvw]

People LOVE to jab at TX like that, but once again you need to calculate the overall tax load, not just "property taxes". If you don't thats really skewed. TX has no state income tax, for starters. Do all the math, don't just cherry pick something.

Which is irrelevant. Real estate tax, especially in popular areas is, of course, unpredictable. The values of the house could skyrocket one year and owner is on the hook for much higher tax next year.
I own primary property in Colorado Springs, and rental properties in Chicago, Las Vegas and San Diego (was also primary property). While CA income tax is high, bcs. of various regulations, property tax is very stable, regard that property gained like 300% value since 2012. Income tax is set. It is what it is, so there is predictability.
On other hand, in TX you have horror stories of older owners, who are now on the hook for insane property taxes bcs. suddenly their area is hot.

 

[BMWTurboDzl]

People LOVE to jab at TX like that, but once again you need to calculate the overall tax load, not just "property taxes". If you don't thats really skewed. TX has no state income tax, for starters. Do all the math, don't just cherry pick something.

Outside the top income earners it's about a wash vs states which have income taxes. The biggest issue I see with states like TC and Fla is that residents who have changes in income can get squeezed badly because their property tax amount is essentially fixed vs fluctuating with income earned.

 

[Speedbird001]

Single family home on 0.34 acre and waterfront view for that $ is amazing

Double check insurance and taxes, be sure

No HOA and older houses... Might be a problem with the neighbors... Suggest park the car nearby and just hang out a while. Try to introduce yourself to a few potential neighbors. (I had a bad experience with real trailer trash, lazy, hoarder, bums)

~75 years old? Better have a cash reserve for repairs. Defiantly spend the $ for a good 3rd party inspection

 

[gfh77665]

Yeah like reading further down the thread before commenting

Yeah I read your 2nd post, which was literally one minute after the first one. Plenty of time to edit and modify the first one, but you chose not too. You left it, and I responded to it.

 

[gfh77665]

On other hand, in TX you have horror stories of older owners, who are now on the hook for insane property taxes bcs. suddenly their area is hot.

Seems these alleged "horror stories" of "insane taxes" must be far and few between, because people are voting with their feet and moving vans and leaving many states for a better life in TX. If these TX "horror stories" and "insane taxes" were so bad, older and younger people alike would be leaving.

TX is wonderfully managed. TX has a $25 Billion dollar budget surplus, which portends lower total tax loads into the future. Contrast our fiscal health and budget surplus with the states whose budgets are deep in the red. People in those states will have to bear that stress into the future.

 

[edyvw]

Seems these alleged "horror stories" of "insane taxes" must be far and few between, because people are voting with their feet and moving vans and leaving many states for a better life in TX. If these TX "horror stories" and "insane taxes" were so bad, older and younger people alike would be leaving.

TX is wonderfully managed. TX has a $25 Billion dollar budget surplus, which portends lower total tax loads into the future. Contrast our fiscal health and budget surplus with the states whose budgets are deep in the red. People in those states will have to bear that stress into the future.

TX also takes $1.12 from federal government for every dollar it pays in taxes. So, maybe those $25bln should go back to CA or CO that pay more than what they get back? I mean, talking about mooching off.

You do understand that such high taxes are driving people who live 30-40 years in their homes, away? That they cannot sustain such high pace of increasing values bcs. their retirement cannot sustain those prices. Same thing is happening in FL that is actually losing population because of such high burden (among other problems). It is not uniquely TX problem, but it is amplified there with such high taxes. We have similar issues in mountain towns where during COVID hedge fund managers literally chased away locals who lived there all their life. The skyrocketing prices of real estate became too much tax burden even though real esters taxes here are fraction of those in TX. But, when your home suddenly jumps 300-400% in value over 5yrs, well, it is not hard math.

 

[GON]

TX also takes $1.12 from federal government for every dollar it pays in taxes. So, maybe those $25bln should go back to CA or CO that pay more than what they get back? I mean, talking about mooching off.

I can't comment about TX and federal government funds take and give, but I have started to research why New Mexico appears to have taken more than it receives in Federal funds.

In New Mexico, the vast majority of land is not owned by private individuals, but owned first by the Federal Government itself, and next by native tribes. BLM is the primary custodian of much of the land in New Mexico. This land is essentially ineligible to generate funds to the federal government but requires substantial federal funds to maintain. Next take a very small population of New Mexico. New Mexico has one of the highest percentages of residents in the nation living on native reservations. The residents have federal government paid entitlements by statute, that nonindigenous Americans do not. These entitlements are very costly, especially in a state with a low population.

Maybe you should post gross federal funds paid to each state. That just might be a supplemental number that better draws a holistic picture of federal spending per state. It would also be beneficial to know what federal funds are included in dollars paid from the federal government to states, and what is not included.

 

[edyvw]

I can't comment about TX and federal government funds take and give, but I have started to research why New Mexico appears to have taken more than it receives in Federal funds.

In New Mexico, the vast majority of land is not owned by private individuals, but owned first by the Federal Government itself, and next by native tribes. BLM is the primary custodian of much of the land in New Mexico. This land is essentially ineligible to generate funds to the federal government but requires substantial federal funds to maintain. Next take a very small population of New Mexico. New Mexico has one of the highest percentages of residents in the nation living on native reservations. The residents have federal government paid entitlements by statute, that nonindigenous Americans do not. These entitlements are very costly, especially in a state with a low population.

Maybe you should post gross federal funds paid to each state. That just might be a supplemental number that better draws a holistic picture of federal spending per state. It would also be beneficial to know what federal funds are included in dollars paid from the federal government to states, and what is not included.

The payment process between states and federal government is complex, to say the lest.
But, since it was thrown into mix how well run is, without having anything to do with topic, just saying.

 

[Zee09]

Yeah I read your 2nd post, which was literally one minute after the first one. Plenty of time to edit and modify the first one, but you chose not too. You left it, and I responded to it.

I'm sorry I don't live to appease you.