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Author: Subject: Buy Butch's house

Peach Head





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  posted on 3/24/2008 at 07:49 AM
In Fridays WSJ weekend section: Butch Trucks has cut the asking price on his Palm Beach home from $4.8 million to $4 million. he purchased the home in 1999 for $1.325 million. He and his wife plan to spend more time in their country house in France.
 
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Peach Extraordinaire



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  posted on 3/24/2008 at 07:56 AM
and why do some act like I am crazy when I mention that all band members are Multi-Millionaires!!!!! Congrats to all. Terrell Owens is still trying to sell his place too poor soul. Nothing is selling anywhere!!!! I'd like to see the shore houses drop another 50% then I'm in.

 

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Zen Peach



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  posted on 3/24/2008 at 08:02 AM
When you consider that the band has a nearly 40 year career going, and at one time was the biggest band in the land, it doesn't surprise me. I'm sure some of the guys managed to spend most of what they made, but maybe some of them invested their money wisely and have built themselves a nice estate. By the way, the mortgage on a 4 million dollar home is merely $29,000 a month, +/-.

 

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  posted on 3/24/2008 at 08:14 AM
considering he only paid a little over 1.35 million I doubt his mortgage is too high! HA!

Even if they spent most of the cash they made the first 30 years, they've done well for themselves the last 10 years on touring, merchandise, Instant Lives, etc. Good for them. They deserve everything they have.

 

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True Peach



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  posted on 3/24/2008 at 09:00 AM
You never know the finances of folks. He may have paid cash for it. I wish him luck in selling and hope he gets what he wants for the place.

 

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  posted on 3/24/2008 at 10:10 AM
Good god, a nearly four hundred percent rise in value over less than a decade (regarding the initial asking price). Good for Butch. I'm sure all these guys have done quite nicely since their resurgence back in the early nineties...including Dickey. Good for them.
 

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  posted on 3/24/2008 at 10:20 AM
And everybody gets on Dickey for the Kid Rock thing. I could live a few years on the money he's making from it.

 

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True Peach



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  posted on 3/24/2008 at 10:29 AM
quote:
Good god, a nearly four hundred percent rise in value over less than a decade (regarding the initial asking price). Good for Butch. I'm sure all these guys have done quite nicely since their resurgence back in the early nineties...including Dickey. Good for them.


$1.325MM to $4MM is really only a 200+% increase(still not bad over 9 yrs, if he gets it), and who knows if he did any renovations or additions. Further, nobody's stepped up for the $4MM; maybe it's pie in the sky hopings. Anyway, good luck Mr Trucks.

 

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True Peach



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  posted on 3/24/2008 at 10:40 AM
Waterfront lots have gone through roof.................

The little house beside ours on the intracoastal waterway on Oak Island NC was sitting on two lots. It was your typical NC beach cottage with around 1200 square feet. The house was for sale off and on for the last few years. I remember it was around $89000.00 back in the mid nineties.
Huge shady yard, fishing dock in a secluded area. About a two years ago a real estate guy bought the house and tore it down. Then he built two houses, one on each lot. I saw in the Real Estate ads he has both houses for sale for 1.25 million each. The agent is living in one, and the other is sitting empty. I am glad my dad bought our house there in the mid 70's for $42,000.00 dollars. Its shocking to see the tax value on it.

I remember the old cliche about land, "Their not making it anymore", same goes for the waterfront lots too. Folks are even building on the end of the island near the inlet. I have seen water cover that area years back. What a risk these folks are taking building out there.
I bet their insurance is sky high, I know the state of NC backs insurance with some sort of rider coverage.

 

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