Wednesday, March 16, 2005

For Sale: A Hole In The Water

Just when you think you've heard it all, check out the new waterfront "property" they are selling in Florida. Inman News has a link to the Dockominium Group where you can park your yacht for as little as $229,000.

"It's not an investment as much as it is a purchase of real estate," McDowell said. "I don't think people buy them expecting to make money on them. I think they buy them as a location for their second home."

But buyer beware, "developers in some cases do not own the submerged land beneath the dockominium boat slips..It's more of a long-term license agreement..There are no guarantees that the state will continue to renew the licenses."


Post a Comment

<< Home