$14,900 for 2 Acre Interior Lot in Lake Keowee - Scam/Legit?

[Raj I.]

Hello - I had gone to a Liquidation sale in Lake Keowee in August. They advertised sales of $14,9/$19.9 and up. By the time we went there (late evening) all the lots were almost bought up and they had a few facing Lake Keowee at $159k/$169k and up.

I must say that it was exciting to watch. But is the land in Lake Keowee worth it for a buy and hold investor? 

What has your experience been and is it a pump and dump or the real deal?

Thanks!

[Chris Martin]

Comparable sales history will tell you part of the answer. I wouldn't call these parcels a "buy and hold" but rather a "speculative" investment. IMO, the time to pick up these type parcels was 6-7 years ago...  others can chime in, but unimproved lots in resort areas can be tricky. I've seen a lot of people overpay for their 'future retirement' location and end up regretting it later.