The state of Ohio's Department of Natural Resources' purchase of conservation easements on thousands of acres in Vinton County begs the question of its impact on land values, local economies, and tourism. The simplest answer might be that the Hocking Hills Region is moving a bit further south and east. The junction of Routes 93 and 56 will probably get busier, and we're likely to see much more use of less-known recreation spots such as Lake Hope State Park.
It's been said that at least a part of the reason for the purchase is the increasing price for land in Hocking County. When you find folks willing to pay upwards of $50,000 for a basic two-acre parcel in what are essentially log/wood vacation home "neighborhoods," something's certainly up. Clients of ours bought and sold acreage between 2005 and 2007 and saw very large double-digit appreciation over that time.
The Hocking Hills Tourism Association noted earlier this year that overnight lodging was up by about 18% over 2006, and it's also significant that the HHTA marketing budget is up dramatically....funded much by lodging taxes, of course. Looks like folks are staying closer to home, and when they rent for a few weekends and consider buying a second home or investment land, sticker shock can set in and they inquire about lower-priced options outside of the Hocking Hills Region. At that point they can also discover other vacation home options, such as the gated resort community of Hide-A-Way Hills....while you can't buy "big" acreage there, you do get access to a wide range of amenities.
Longtime local residents complain that speculation is making life difficult for them in various ways, but the fact remains that the demographic makeup of the region is changing.
©2008, Doug Parker, ikarensell Enterprises Inc. http://www.ikarensell.com
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