JIM WELLER (1:123/140) wrote to STEVEN HORN at 23:06 on 30 May 2003:

 JW> Our market is really hot up to $300,000 and homes are selling over
 JW> list price in a week or less, over appraisal and close to brand new
 JW> replacement costs. But over $300,000 sales are slow and rarely come
 JW> up to appraisal. That home I mentioned the other day was just one
 JW> year old, and appraised at $600,000 replacement cost but sold for
 JW> $548,000. Now that a psychological barrier has been broken perhaps
 JW> future homes will go for closer to their true value.

So it had been empty a year?  I looked up its approximate location on the
City map and it did not strike me as a half-million location. 

 JW> We have the land. But it is rocky, hilly and expensive to develop.
 JW> Do you remember Niven Lake behind the Explorer Hotel? That's the
 JW> area we are building in now. It was passed over in the seventies
 JW> when Frame Lake South opened up, as being too rugged a terrain.

I knew the Niven Lake area reasonably well and take your point.  However, I
thought there was available land located beyond Kam Lake.  What happened to
that?
  
Take care,

Steven Horn (steven_a_horn{at}yahoo.ca)
Moderator, ALASKA_CHAT 
--- timEd/386 1.10.y2k+