Intel fab announcement bringing property buyers out of woodwork

[Brian Tymchak]

Geesh, just had another call, on my Do Not Call listed cell, asking if I had any property to sell. Normally I ignore unknown calls but I have an electrician scheduled for this afternoon, and am waiting for his call. I've been getting these calls maybe 1-2 times a week. But since the new Intel plant was announced here in Ohio, it's up to 2-3 a day. I live about 3-4 miles from where its going in.. I guess I better get used to it. There was a story in our local paper a couple days ago, that stated that there have recently been some good sized land transactions nearby at about 5x typical prices. Hope that translates thru to existing home values but I figure I would have to move quite a ways to take advantage of that. And I really like our neighbors. Lot to be said for that..

[Ron Selzer]

"And I really like our neighbors. Lot to be said for that."
Makes for a good neighborhood

[Derek Meyer]

That Intel site is going to be something. Their initial investment is something like $20 to $30 billion dollars, with a plan for $100 billion over the next 10 years. It will create thousands of jobs and new housing areas. I think they bought like 1600 acres for their site. I'd bet that land prices are going to skyrocket in your area. I hope you don't get taxed out of your home. That happened in Idaho in the Coeur d'Alene area. Property taxes went up so much the city had to put a freeze on increases to prevent long-time homeowners being forced to sell and move.

[Bill Dufour]

Silicon valley has the highest property values in the USA. No houses under one million or so. 1.5-2 for a 2/3 in a decent neighborhood. But think how much you save on heating.
Bill D

[Michael Schuch]

So nice of the callers to offer to take your property off your hands out of the goodness of their hearts while looking out for your best interests!

Time is definitely on your side, the longer you hold out the higher your property will go for. What ever you do don't short yourself! Those 5x sales will be chump change in no time.

[Brian Tymchak]

... I hope you don't get taxed out of your home. That happened in Idaho in the Coeur d'Alene area. Property taxes went up so much the city had to put a freeze on increases to prevent long-time homeowners being forced to sell and move.

Yea, 3k jobs going to 10k over time is going to require a lot of new schools, and they just love to pass school levies around here. Don't get me wrong, I support good schools, but they've gone crazy here. I have 21 permanent and long term school levies assessed against our property, making up 59% of the property taxes I pay.

Love the Couer d'Alene area, btw, at least the way it was 35-40 years ago. I had an aunt living in Spokane when I was younger, and we would go kokanee fishing on couer d'alene. Just beautiful. Good memories.

Ooops.....Well maybe not such good memory... we went fishing on Pend O'reille... but we did visit Couer d'Alene fairly often.

[Brian Elfert]

There won't be any advantage to selling unless you plan to move to another area. Another house is likely going to cost just as much if you stay in the area. It might be a good time to write to your state legislators to see if they will do some sort of property tax program to limit increases for those who already live there. The investmanet is great for the area, but not so much for current residents if they get taxed out of their homes.

[Alex Zeller]

They may say they are going to hire 10k people but put me in the I'll believe it when I see it camp. Most modern chip fabs are mostly automated. That means no people to load, unload, and move wafers. The jobs are in servicing the tools. Even that is limited. The older tools were cheaper but required lots of labor. The new stuff is much more robust. Even the designing phase has changed from lots of people to computers doing more of the work. That leaves the subcontractors. Lots will be needed to build the pant but once it's up and running that'll be cut back.

[Bruce Wrenn]

Same thing here. Bought five acres in 1979-1980 for less than 10K. Land is now worth over half a million. Every week get mail offers to buy us out, but none include an Earnest Money Check, so they aren't serious, IMHO! Property taxes are what will drive us out.

[Curt Harms]

Foxconn was going to build a huge facility in Wisconsin in 2017. Lots and lots of tax abatements and infrastructure improvements promised. It's not even started the last I knew. Foxconn has also announced other initiatives that never took root. Maybe Intel will be better about following thru with their plans than Foxconn has been.

https://news.wttw.com/2021/04/19/fox...-back-facility

[Bryan Lisowski]

I was talking to a friend about these calls, I told him he should throw out some completely outlandish number and if someone bites, time to book a moving van.

[Myk Rian]

Geesh, just had another call, on my Do Not Call listed cell,

That's because when you listed it as do-not-call, it was distributed to the ones that make the calls, so they wouldn't call you.
Well, you can see how well that worked.

[Dave Lehnert]

I live east of Cincinnati and been getting calls and post cards in the mail like crazy wanting to buy the place. One night I picked up the phone to make a call and there was someone on the other end asking to buy the place, Did not even ring.