With so much discussion on the SEV, fair market values, etc. etc... how does one set a price on beauty? WE know the camp property has value. The state determines a "value" and the market determines a value. As a cottage owner you get the benefit and "value" of the camp property but you can't sell it. The value is in "having it".
As Mr. Meyer worked (not) to put together his "instructions" for bidding and picked a starting bid (sort of out of thin air)...all we could do is try to persuade him that he wasn't "getting it". Remember, he was supposed to go up and take a look himself? Yeah. Well, I can tell you this. When we made the last trip to the cottage to get our things, he was there. He was "getting it". Too bad, too sad, too late. He got it. Course, he couldn't have been nicer then. Compared to the other two kooks..David and his counsel? He said they were acting like little boys.
Back to the story... we packed and went north. We scrubbed, hosed down and cleaned every square inch of the place. Windows, floors, inside and out. It looked mighty nice. We watched as a number of "interested" parties made their way through. We heard from our attorney from time to time about who had requested information etc. and we tried to enjoy what we thought would be our last time there. It was a bit tough. We had one last goodbye party. The Dinner Party from Hell. It was the day the power went out in the morning and we had about 100 people coming for supper. And..it was HOT. But of course we had a great time. We love to throw parties and we are already planning one up there sometime in July. Stay tuned.
21 comments:
Power or no power. It is nice to have a party and what better place to have one. After this blog has ended you should invite all the people that contibuted to this blog to a party. I can't speak for other people but I have learned a pant load of information regarding cottage ownership. What a way to say thank-you.
I just hope it never ends.(This Blog)
I don't think the state sees something as beautiful and taxable. If Granholm saw lakeside she would tax the hell out of it. She might want to spend her summers here.
Have you ever thought about going to CBS,NBC or ABC with this blog? What a great story that most people would be interested in. I'd watch it. Listen to it. Maybe slymons would get his due course
We hope that cottage owners are learning something. The "it won't happen to us" idea is not going to help when it does. Most of these cottages are tenancy in common arrangements. Talk to your family. Don't look away and hope it doesn't happen to you. Plan.
The funny thing about planning which I have to agree on totally is that I don't think anyone ever was really concerned about it since the day Lakeside was born. It was the way of our ancestors. Everyone got along because we are family. If you didn't want to come here you simply sold your share.Nobody ever got sued especially by their own brother/sister. It just was unheard of. This place IS magical and everyone wanted to share it. We just love our family and friends and look forward to every summer. It's never taken for granted.
Unfortunately it took one person to change all that.
We're sad
One person to change everything?....I think the person that changed everything should be considered a subspecies of what a person really is....he is not conforming to high moral standards at all.....or any moral standards.
He probably told his family he'd be famous one day. He's famous alright but not the kind I would wish on anyone.
"invite all the people that contributed to this blog to a party."
This blog is absolutely brilliant on so many levels! But with so many of the commentarians choosing to be anonymous-- it might be difficult to identify them in order to invite them to the party!
Maybe we could have a guessing game to unmask who is who?
"David and his counsel? He said they were acting like little boys. "
For real! I think David's suffering from some weird, late in life onset of the Peter Pan Syndrome. It's like he's got arrested development-- and regressed back to his childhood.
What does Josephine think about this? She knows him the best- would be interesting to get her insights.
PS: The Slymons boys also have the Peter Pan Syndrome!
"We watched as a number of "interested" parties made their way through."
Were these really 'interested parties' or just curiosity seeking gawkers looking for an excuse to view the latest trainwreck?
Who were some of these 'interested parties?'
"Remember, he was supposed to go up and take a look himself?"
The beauty of Lakeside is staggering indeed.
If Mr. Meyer never honored his own word, and make the rip-- this violation alone of his own protocol should be grounds for an appeal.
"As a cottage owner you get the benefit and "value" of the camp property but you can't sell it. The value is in "having it". "
This whole concept is a tad confusing. For example, if you own a co-op in Manhattan, you own shares in the building overall- and can sell it.
As an owner in Lakeside camp, you own your individual cottage, but also 1/35th ownership in the 'SEV' From Joey's posts, I'm getting the impression that when you sell outta Lakeside, you just simply forfeit your stake in the SEV! This seems horribly unfair, especially to a family who has been paying taxes and dues to the association since the late 18th century.
I would definitely mount a legal challenge to this!
Yeah, I absolutely LOVE this blog!
It gives voice to victims of cottage snatching everywhere by duplicitous tenants-in-common.
In regards to the "comparable" cottage that sold in Pinewoods for 620K, I can tell you that this was a real shithole. My husband and I went to look at it. It looked like the "Unibomber" Ted Kaczynski's little shack in the Montana woods.
The real estate agent, Nick Poindexter, told us that the 620K buys you the cottage and that's it. (probably the right drive on the main Pinewoods road to access the cottage) but no other association privilege's e.g. dining hall, tennis courts, etc. That would be an additional fee, and you'd have to suffer the potential embarrassment of the association not voting you in.
The point is, a cottage, and SEV ownership/participation are separate and distinct things.
"In regards to the "comparable" cottage that sold in Pinewoods for 620K, I can tell you that this was a real shithole."
It did have quite a larger lot than the Lee cottage, but it was also only one cottage~ whereas the Lee/Slymons/ Degues.Jenkins cottage has a back cottage.
I bet even Stuart J. Hollander, author of "Saving the Family Cottage" would be thrown for a loop with this one.
The fact is, these cottages, being located within Associations, makes matters all the more difficult and complicated to work out!
Mr. Meyer was in way over his head, that's for sure.
"It did have quite a larger lot than the Lee cottage, but it was also only one cottage~ whereas the Lee/Slymons/ Degues.Jenkins cottage has a back cottage."
Another point that I'm sure was absolutely ignored when analyzing the comp in Pinewoods was that there is absolutely no privacy in Pinewoods. The cottages are right next to each other, and practically edge up to the front path.
The Pinewoods lot may have been deeper than the Lee lot, but the lack of privacy~ and the much greater privacy afforded in Lakeside, by comparison- should have served to increase the valuation for team Lee/DeGues/Jenkins.
"620K buys you the cottage and that's it. No other association privilege's e.g. dining hall, tennis courts, etc. That would be an additional fee, and you'd have to suffer the potential embarrassment of the association not voting you in."
Just so you know dear, to be voted in, you've got to be a wasp, it really helps to be Republican, you can't be short of a buck, and we have to have known you for a very long time. Probably the same at Lakeside and CG.
"If Granholm saw lakeside she would tax the hell out of it. She might want to spend her summers here."
You know what? If half the Hollywood celebrities knew about Lakeside, it would become the Hamptons of the midwest.
"If Mr. Meyer never honored his own word, and make the rip-- this violation alone of his own protocol should be grounds for an appeal."
Make the rip? Freudian slip.
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