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Old 06-10-2007, 07:11 PM
 
Location: Comunistafornia, and working to get out ASAP!
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Ok, I'm looking for answers from financial people, bank officers, loan officers, mortgage brokers, or financially savvy folks, etc.

Here's my situation. I own 1.25 acres of land in Northern California smack dab in the middle of a metro area. It has two houses on it one is permitted one is not. I rent the one and live in the other. My wife and I are looking to get out of California. What would be the best thing to do with it? What would you do with it?

Thanks
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Old 06-10-2007, 08:29 PM
 
Location: Happy wherever I am - Florida now
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Selling it would come to mind.
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Old 06-11-2007, 09:33 AM
 
Location: Vero Beach, Fl
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What is the situation with the house that is not "permitted" ? What type of construction?
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Old 06-11-2007, 02:17 PM
 
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God's Messenger! ?????

subdivide the 1.25 acres into 2 lots with one home on each lot and sell.
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Old 06-11-2007, 08:05 PM
 
Location: Comunistafornia, and working to get out ASAP!
1,959 posts, read 4,727,737 times
Reputation: 934
Quote:
Originally Posted by jhlcomp View Post
What is the situation with the house that is not "permitted" ? What type of construction?
I inherited it from my Dad it was most likely built in the 80's good construction stick built we live in this one.
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Old 06-11-2007, 08:07 PM
 
Location: Comunistafornia, and working to get out ASAP!
1,959 posts, read 4,727,737 times
Reputation: 934
Quote:
Originally Posted by TimtheGuy View Post
God's Messenger! ?????

subdivide the 1.25 acres into 2 lots with one home on each lot and sell.
The two houses are about 10 feet from each other and the majority of the property is behind both houses.
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Old 06-11-2007, 08:16 PM
 
Location: Vero Beach, Fl
2,949 posts, read 12,180,656 times
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Would the county require you to demolish the house that is not permitted? Can you take the land and get it rezoned for -- oh, 4 houses? and then sell the land to a developer?
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Old 06-11-2007, 09:53 PM
 
Location: Comunistafornia, and working to get out ASAP!
1,959 posts, read 4,727,737 times
Reputation: 934
Quote:
Originally Posted by jhlcomp View Post
Would the county require you to demolish the house that is not permitted? Can you take the land and get it rezoned for -- oh, 4 houses? and then sell the land to a developer?
I'm sure it could be developed. Good idea.
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Old 06-12-2007, 03:08 PM
 
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what is the value of the bare land? what is the value of house #1 less the land value? what is the value of house #2 less the land value?
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Old 06-12-2007, 05:27 PM
 
Location: Comunistafornia, and working to get out ASAP!
1,959 posts, read 4,727,737 times
Reputation: 934
Quote:
Originally Posted by TimtheGuy View Post
what is the value of the bare land? what is the value of house #1 less the land value? what is the value of house #2 less the land value?
$680,000 all together
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