What would you do with a 10 acre resort property you can’t sell and can’t use?

[Greg Christensen]

I bought the land in 2006 and like many others I have been licking my wounds after the crash in 2008. I pay $1400 a year in taxes, $1250 a year in resort dues, and have it financed on a HELOC at about 2% interest only (I currently owe about $125k). It has been listed since 2010 and has never had an offer. Price drops from $350k to currently $175k. I learned that the area sold 2 lots last year and they have about 500 on the market. This is honestly a great little resort town in New Mexico with skiing, golf, biking, etc. but I am living in Asia and can't use the property even if I'd like to. It's still listed, I regular post it to Craigslist, I am offering owner financing, but I've still yet to receive an offer.

What would you do?

MODERATOR:  NOT AN OFFER TO SELL THIS PROPERTY. ANY POSTS TRYING TO BUY THIS PROPERTY WILL BE REMOVED.

[Jay Hinrichs]

@Raju Pothuraju

  10 acres of timber in New Mexico unless it was some unreal OLD growth stand would not have much stumpage value... like 10 acres of CA redwoods can be worth multi millions and 10 acre of prime doug fir in ORegon or WA could be worth north of 500k just for stumpage.

pretty rare an individual has much marketable timber in an area of resort properties.

very typically especially in Idaho and Montana the timber companies logged the timber then platted the parcels and sold them off for rec. use.