I have a friend who is 70, and has a monthly SS payment of $685, her sole source of income. Her home is paid for, but with the way prices are going up, things are getting pretty tight for her.

She has a single huge cedar tree with a 7-foot diameter. I am wondering if that is any kind of asset she could sell.

I know the large hardwoods can be used as veneer wood, and you can get a pretty penny by the 'each'.

But is there a market for anything similar with cedar?

And if there is, what kind of person/business would be the one to contact?

Any info would be most welcome.

Sue

A very unfortunate situation for a senior. Lots of people are cash-flow-poor these days, even if they have decent assets.

Cedar is certainly worth something; but I don't think it's anywhere near the scale of hardwoods. There may also be restrictions in cutting a mature tree in certain areas.

I do know that many sawmills are leery of residential trees. They tend to accumulate nails, wire, bullets, you name it, over their lifespans. These things play merry hell with the super-thin bandsaw blades used to cut lumber these days.

Still, I'm no expert in this area. I hope someone has more positive and authoritative news for you.

Luck!

I'm pretty sure old growth of most any kind is valuable. Unfortunately, I don't know what kind of company would be most likely to offer a fair price. A housing developer would likely know as it is common practice for them to sell the trees from a property before building.

You might give Crosscut Hardwoods in Seatlle a call. They deal in unique pieces and might be able to point you in the right direction.

-john

One thing to consider is to what extent the removal of the tree would affect the value of the property.

Trees certainly can be seen as assets. A popular plan in the south is to plant pines and have them culled and block harvested for regular income. Pulpwood is a high turnover crop. Cull and wait and you get more money as they get large enough to be used for lumber. Most counties have an agricultural extension office that can give you information on selling trees or hook you up with someone who can can.

Singular trees can certainly be sold if the tree is worth enough to justify the truck and crew to cut it and get it to a lumber mill or broker. Some trees are in such high demand that they have become victims of 'midnight lumbering'. Hickory is so valuable, tens or thousands of dollars for a single unimpressive tree, that out of work tree men have been known to back up their truck, cut the tree and be down the road in just a couple of minutes.

I would caution that with the building boom gone bust the demand for wood is down and even exceptional trees can have their worth fall below the price of harvesting and shipping. If you sell now you could get a fraction of the payoff you might otherwise receive. The good news is that trees generally store well and if left alone, with minimum protection and coddling, only grow in worth.

Owning a tree worth x amount of dollars is one thing. It's another to harvest and transport. Talk to a logger and see how much it will cost to drop it and haul it to the mill. You might find their overhead in terms of set-up and transport costs take out a huge chunk of the profit she might see. Her net at the end may not be worth losing the tree. YMMV

Her cash flow situation looks grim, and even if she sold the tree, it would only be a one time boost. As her home is paid for, maybe she could look into a reverse mortgage from a reputable firm to improve her monthly income.

https://www.onereversemortgage.com/hecm/...a3MN.dynamicd3C

Hmm, without an adequate cash flow, isn't remortgaging a slippery slope? I would worry about that.

A reverse mortgage is not a refinancing per se. A reverse mortgage makes payments to you every month and the loan balance increases with each payment. The loan is paid off when the house sells. It still may not be ideal but they were designed for seniors in exactly this position by allowing them get some liquidity from the equity in their house without having to sell it.

"One thing to consider is to what extent the removal of the tree would affect the value of the property."

I doubt it in this particular case. She has had her 2+ acres up for sale for three or four years now (the house itself has no resale value). Due to location, it is most likely to end up as high-density dwellings, and the people who build those tend to clear the land completely for ease of building.

Thank you for all the replies.

Sue