600k-1M for these shitty juxtaposed copy/pasted houses made out of carton in a random suburb where you have to have a car? USA you went too far, go back
I went through a Second Life land trading phase quite a few years back. Properties like this were very valuable to advertisers. Because of advertisers, it was possible to be a niche real estate mogul for weird useless little virtual properties like this that could earn you an actual meaningful real-world income. Second Life had (may still have, I've not been back in a while) its own advertising industry and multiple adtech networks. A despicable inevitability of having completely free content creation tools and also an economy that can trade with real money. People trying to sell their creations want people to pay in game currency to get their things, so they can extract the value to real money. They want people to know about their products, so they turn to people who will accept in game currency to blast awareness of their products everywhere. Those advertisers want land, which they need to buy. Probably from another player.
So, the first thing I thought of when I saw this plot was "BILLBOARDS!!!" and I hate it.
More or less? Actually it’s more like extortion as written, but generally speaking rent seeking is buying something that you can get others to pay you for regularly. Like “hey, this land has oil, I’ll buy it and lease the oil rights” or “hey, this land has a house on it that people like to live in, I’ll buy it and lease the habitation rights”.
I bet a real asshole could easily quadruple their money with this.
Just negotiate with the owners of the 6.1 houses to buy all or some of the strip. Tell Bob that if he doesn’t pay $10k for the strip behind his house, that Catherine is willing to buy it, and then her back yard will wrap around his.
In a friendly world where every neighbour trusted each-other, they could split the $25k and each pay a few thousand for a very slightly larger back yard. But, home-owners being the assholes they are, you could probably get them to try to out-bid each other to cause or avoid petty squabbles.
The reality is they’re almost certainly already using that land and buying it would give you nothing because they could claim it under adverse possession. Actually taking possession of that strip would be nearly impossible.
Adverse possession isn’t that simple, and laws regarding it vary by state. In this case, it appears to be Washington state, which requires a number of things that indicate an uphill battle for anyone trying.
Among other requirements, it needs to be uninterrupted (occasional activity doesn’t count), exclusive (the true owner doesn’t use it) for ten entire years, notorious (impossible to miss if you ever are on the property, we’re talking anywhere from fencing it off to building an entire house on it) and hostile (without permission).
So in reality, if I already owned this, avoiding adverse possession on this property is as easy as visiting it once every 5-8 years and telling them to quit the area if they’re trying to elbow their way in (which resets the 10 year clock).
So yeah, not as much a free land grab as one might think.
As a potential purchaser, the greatest concern is if it’s already been more than 10 years. In my mind this is exactly the kind of situation adverse possession is for.
Even if adverse possession doesn’t apply, trying to actually evict those home owners from the land is going to be a nightmare. The validity of the lot itself may even come into question. Generally I would expect the laws governing the creation of lots to try to prevent useless lots like this.
Honestly I don’t understand how lots like this even get listed. I looked at one in my city that was a little piece of a corner between two homes. It’s far too small to build on and you probably couldn’t even fence it off legally. Literally the only thing you could do with it is try to coerce the adjacent homeowner who’s been using it to buy it from you, but that’s just evil, and who wants to be evil?
Situated in a nice Renton, WA neighborhood this unique parcel stretches behind six homes and is accessed through the public right of way. Imagine the things you could do? Parking of vehicles and “toys” comes to mind immediately … or storage? How could you put a piece of property like this to use for yourself? Gardening? A place to hang out? It’s right next to a big green belt so you’ve got all that privacy at your feet. Recreation? Camping? And just strictly as an investment … can you think of any Real Estate in King County Washington that gone down in value over time? “A rising tide lifts all boats”! Tax ID# 7708201190. NE 4th St to N on Jericho Ave NE. Stop just before Road Curves left. Parcel is behind the houses straight ahead.
This is a Republican majority. It’s the new math they use to make it so that when the Senate vote is 51-49 and Republicans are the 49 they win, or when they lose the popular vote for president they still win.
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