1.2 million dollar dump
 

http://msnbcmedia.msn.com/j/msnbc/Co...5p.hmedium.jpg

Check out this article.

brilliant! Good for him - I hope he has the strength and endurance to live long enough to cash in.

Let's just hope he doesn't hold out so long so-one is interested in doing a deal with him.

LOL that's terrific

Someone will just kill him and the city will sell the land for half the price.. He has not family here left probably given he never married...

People actually want to live In Las Vegas?

lets hope he doesn't die first.

Someone will knock him off.

hehe looks comfortable:-)

real estate is the way to get rich without any skills...

hahaha thats some serious bling...

"Corchuelo?s home is one block off Las Vegas Boulevard and across the street from the future home of the Allure, a 41-story luxury complex under construction."

I wonder if the developer of Allure will have to buy him out to remove the eyesore?

I really hope he has a will, with strict conditions.

Maybe they will fix up his exterior for him.

I don't understand the appeal of Vegas. It's nice to visit for abot 3 days but why would anyone want to live there? Women? There's hotter women in Cali and Miami. Weather? Miami and Cali are just as good. Excitement? C'mon... I'm not repeating myself.

What's the appeal?

Just a guess but ...gambling.

Legal gambling. (Your internet poker games aren't legal under current federal law). Clean hookers. (That one girl your banging for $5 behind the McDonald's dumpster probably doesn't get checked at least once a week for gonoherpesyphilaids.)

dejavu....

That's wild.

Who is he kidding. If and when a major developer wants it they will 1- offer market value for it and/or 2- just use eminent domain and take it.

People who live and work there make a lot of money off the people who visit and play there :)

You can have someone killed for alot less than 1.5 mil.

damn not bad profit of 1,170,000 if he sells

looks comfy

Isn't eminent domain available only as a government process? Wasn't aware realty developers could claim eminent domain as well.

Is it really worth that much?

It's not like he's got land to go with it. He's pretty much just asking for a million bucks to get rid of an eye sore.

think of it like this... say he only owns 1 square foot of land... but that land is in the centre of an acre that a developer owns except that 1 square foot.. and the person who owns the land wants to build a billion dollar hirise... see now ?

The media needs to stop over hyping propperty and propperty sales.
It's pissing me off.

True. I now recall a few years ago that someone here got over $1million for their home and it couldn't have been worth more than $250,000 at the time. But she had some land to go with it. Noting big, but enough to build two homes on by today's lot size standards. Plus it was in the middle of their development.

Then just in the past 5 years several went up along a road and now Wal-Mart is building on that land. I wonder how much they got?

Seems like a good way to increase your odds of cashing in are to build on land that is right next to a large field. Eventually it'll be developed and they'll want you out.

yes sir, you are correct :)

owning a home where a big corporation wants to develop is like hitting the lottery

thats 30 years of waiting :winkwink:

There is a guy here in San Francisco that scored big. SFO airport was looking to expand and the surrounding areas are marshes. So enviromental laws require that if the marsh is destroyed another area must be perserved or made into a marsh. Not sure exactly how it worked but in short the airport had to buy this guy's land before they could do their expansion and they paid like 5 times the value of his sliver of land.

Yes that is the definition but if the developer could prove it was for the "greater good" of the community they would have a chance in taking it from him.

I am far from a legal expert. I have just been following a few cases in my area of private sectors trying this approach now.

This was a recent change right? It went to the Supreme Court a few months I think.

If the man lives he will get what he wants sooner or later. But best of luck to him...

This guy needs to be careful, and learn what has happened before in Vegas. The big guys will build all around him, and make his little postage stamp of land totally worthless, with access through some convoluted route and no more frontage worth mentioning. They might bury his house in the middle of a parking lot. Maybe stick it next to the garbage dumpsters and raw sewage processing plants... who knows?

He is taking a might raisk, playing a big ass game of poker... and he only has a pair of 2 in the hole.

Good luck to him, the odds went against him when he started to get greedy.

Alex

Damn that is pretty crazy.

This is why I own most of the real estate on the moon. Once the space travel costs are worked out to $99.95 per person ( 1 way ) I'll seriously be able to retire in style

Yes.. Here is a blurb about it from June of this year.

http://www.washingtonpost.com/wp-dyn...300783_pf.html

Hell, he could get 1.5 for that piece of shit around here.

That's what worries me as well.

Why did you bump this thread?