Tim Duncan Lake House For Sale

[littlecoyotecoin]

Maybe he's outta here. The way he's been playing, it sure looks like he could go another year or three.

Or...maybe he is just tired of it?

Or, maybe part of the divorce settlement?

Anyway, FWIW, he's selling his ewood home. And, he's willing to take at least a 300-400k haircut on it. Maybe he overpaid, initially, but hill country prices are doing well. Curious as to his willingness to take the loss, not that he needs the money, but unless you just want out, why start there?

925,000, paid 1.25.

Anyone interested in a showing?

Spurstalk home base?

[jARS mEsH sEt]

Not a bad deal considering he paid 1.25 for it. I'm tempted to consider it as a quick investment property, but the property taxes on that house are upwards of $20,000/year and it's not really in a rentable location. That house isn't terribly far from where I live (Westlake Hills, Austin TX). But I already pay $20,000/year for property taxes on my primary residence, so I'm not in the mood to hemorrhage another $20k/year unless I got a really good deal on it or I was looking to move into that house as my new primary residence, neither of which are feasible

[DMC]

Yeah... not really lake front these days. More like dry creek front with weeds growing up in the boat stalls. Probably why Tim is dumping it, cannot access water from it.

[DPG21920]

Exactly. Most of the area has taken somewhat of a hit because of the drought and the fact it's not a constant level lake.

[apalisoc_9]

Can you fish in that lake?

[littlecoyotecoin]

Yeah... not really lake front these days. More like dry creek front with weeds growing up in the boat stalls. Probably why Tim is dumping it, cannot access water from it.

That seems [a] reasonable conclusion.

[littlecoyotecoin]

Can you fish in that lake?

Easily, from the reports. You just walk out there and pick them up.

[Dex]

Easily, from the reports. You just walk out there and pick them up.

[jARS mEsH sEt]

Easily, from the reports. You just walk out there and pick them up.

I had no idea Lake Travis was so anemic in his area. http://virtualglobetrotting.com/map/...use/view/bing/

[RD2191]

Easily, from the reports. You just walk out there and pick them up.

I'm done.

[DesignatedT]

Having his type of money you might as well just sit on it until the water rises again (it will eventually). Values are still holding pretty good but it's a lot easier to sell lake frontage lots when there's water in the lake . Guessing it has something to do with the divorce though which makes sense.

[ElNono]

Damn, property is cheap down here

EDIT: relatively speaking, obviously

[jARS mEsH sEt]

Damn, property is cheap down here

EDIT: relatively speaking, obviously

No state income tax either. However, property taxes are generally quite high in this particular area to make up for that fact.

[Mikeanaro]

Damn, property is cheap down here

EDIT: relatively speaking, obviously

Really cheap, south american type of price far far away from NY prices or those californian mansions like that 13 mil one owned by Kid Rock.

[ElNono]

No state income tax either. However, property taxes are generally quite high in this particular area to make up for that fact.

I see. IIRC, NJ does have the highest property taxes in the nation anyways

[Mikeanaro]

I guess he is not using it and doesnt wanna spend useless money on taxes, smart move anyway I´ve heard Tim will leave SA by the time he hangs it up.

[Sasha]

Anyone know if there's a HOA for Duncan's property?

[ElNono]

Really cheap, south american type of price far far away from NY prices or those californian mansions like that 13 mil one owned by Kid Rock.

Yeah, there's some mansions under 2000 sq ft around where I work that go for 2m-3m easy...

[jARS mEsH sEt]

I see. IIRC, NJ does have the highest property taxes in the nation anyways

New Jersey is high but it doesn't hold a candle to Texas

Texas has the highest average property tax rate in the entire U.S. @ 2.57%

http://www.nytimes.com/2007/04/10/bu...ates.html?_r=0

But again we have no state income tax so it more than balances out (in most cases).

[littlecoyotecoin]

I had no idea Lake Travis was so anemic in his area. http://virtualglobetrotting.com/map/...use/view/bing/

Yeah. Most of our lakes are low. I should have thought of that. I know boat ramps are closed at other area lakes for the same reason, but real estate is doing well in at least one area despite that. Wish we had as much water as oil.

[littlecoyotecoin]

Having his type of money you might as well just sit on it until the water rises again (it will eventually). Values are still holding pretty good but it's a lot easier to sell lake frontage lots when there's water in the lake . Guessing it has something to do with the divorce though which makes sense.

Those were my initial thoughts exactly. Just wait for rain. Not hurting for the money. Who knows.

[elemento]

It's crazy how cheap it is. All houses in SA are cheap like that?

The prices in Brazil are hilarious right now. There's a massive inflation going on. Our case is different compared to the sub-prime case in US, but things will look ugly here in a few years here. People with no financial knowledge are buying expensive houses/apartments committing more than 50% of their income for the next 30 years because they believe their prices are going up forever. All indications are showing pretty much the opposite and a lot of people have started to lose their houses because they can't afford it.

A house like that in Brazil would probably cost U$ 5 million quite comfortably in most states of BR.

[ElNono]

New Jersey is high but it doesn't hold a candle to Texas

Texas has the highest average property tax rate in the entire U.S. @ 2.57%

http://www.nytimes.com/2007/04/10/bu...ates.html?_r=0

But again we have no state income tax so it more than balances out (in most cases).

Had no idea. The problem in NJ is that it's very low in the poor areas, but anywhere you'd like to live, it's a ripoff. Especially in light of the average house price...

[RD2191]

Let's all pitch in and buy it. We can make it a timeshare.

[littlecoyotecoin]

I guess he is not using it and doesnt wanna spend useless money on taxes, smart move anyway I´ve heard Tim will leave SA by the time he hangs it up.

20k x ? = 300-400k? I don't think he sells at that loss to avoid 20k tax cost.