Trying to sell Lake Carolina land (days on market, for sale, lenders)

[Marie Stover]

We purchased a huge, gorgeous piece of lake property in Lake Carolina thinking we would be moving here a few years ago.. well sadly, that didn't work out and we've been trying to sell it ever since-both FSBO and with several agents who don't return phone calls, provide promised marketing or even alert us to vandalism! I hate to ask anyone to suggest an agent (i've seen those threads!!) but what is the deal with property sales here- and the lack of service from these folks? (it was for sale long before the market crashed). Is it true we need to start building something-a spec home-to get any interest? I've heard this is a big area for transient folks. Any suggestions on working any deals with a builder? We do hope to move here eventually, but cannot afford to sit on this property forever... thanks so much for any advice

[jlboney]

In my expirience, land sales for the most part have truly been hit and miss without the greatest pattern to why or when they sell. Spec homes seem to sell better with most communities that I have personally delt with than a lot for people to build on. Though, people do sometimes choose to purchase build jobs, as opposed to an already standing new home for various reasons. As to why you have a hard time keeping agents in touch with you, I'm sorry, but I'm not sure what the problem is there.

If you were planning on attempting to sell your land to a builder, you can always begin contacting local builders and see if they have any intrest in purchasing the land. How much land is there. A large builder like Mungo, Essex, Shumaker, and Great Southern Homes, tend build entire neighborhoods. However, if it is not large enough for that, you may have better luck contacting smaller builders such as Kerry Lee builders, Berry Builders, or Bugsy Graves. Best of luck to you with whatever you decide to do.

[Brandon Hoffman]

Originally Posted by Marie Stover

We purchased a huge, gorgeous piece of lake property in Lake Carolina thinking we would be moving here a few years ago.. well sadly, that didn't work out and we've been trying to sell it ever since-both FSBO and with several agents who don't return phone calls, provide promised marketing or even alert us to vandalism! I hate to ask anyone to suggest an agent (i've seen those threads!!) but what is the deal with property sales here- and the lack of service from these folks? (it was for sale long before the market crashed). Is it true we need to start building something-a spec home-to get any interest? I've heard this is a big area for transient folks. Any suggestions on working any deals with a builder? We do hope to move here eventually, but cannot afford to sit on this property forever... thanks so much for any advice

First-DO NOT INVEST MONEY IN BUILDING A HOME TO SELL! It's too risky to invest money on a spec home when you don't want to deal with the cost of the land. Ultimately the right marketing and right price will sell the land but I don't know what you can afford to sell it for. A builder may buy it from you direct but I don't know if they'll pay what you want.

What you should focus on is hiring the right agent. There are about 1800 agents left (roughly 500 have quit but they weren't good anyway) and of the 1800 I'd estimate that 250-500 are good Realtors. You need to ask the right interview questions to make sure you get one of the good ones. For a listing agent the right questions are:

1-Are you full time?
2-Google the agent and look at hits and web marketing they do.
3-How many properties did you list last year?
4-How many of your listings sold?
5-What was the list to sales price ratios?
6-What was your average days on market compared to the market average?
7-What do you do market a home?

[wberry]

Originally Posted by Marie Stover

We purchased a huge, gorgeous piece of lake property in Lake Carolina thinking we would be moving here a few years ago.. well sadly, that didn't work out and we've been trying to sell it ever since-both FSBO and with several agents who don't return phone calls, provide promised marketing or even alert us to vandalism! I hate to ask anyone to suggest an agent (i've seen those threads!!) but what is the deal with property sales here- and the lack of service from these folks? (it was for sale long before the market crashed). Is it true we need to start building something-a spec home-to get any interest? I've heard this is a big area for transient folks. Any suggestions on working any deals with a builder? We do hope to move here eventually, but cannot afford to sit on this property forever... thanks so much for any advice

Marie, my name is Wayne Berry of Berry Builders, we are one of the custom home builders in Lake Carolina. Unfortunately, we are not in the market for purchasing a lot for a spec. home. I really do not know of any custom home builders currently building spec. homes due to the poor market conditions and the lack of funding available from lenders for spec. home construction. If you would like to forward the information on your lot I would be more than happy to share it with potential custom home clients that I encounter.

[Brandon Hoffman]

The post is 3 years old.

[Marie Stover]

Thank you Wayne. I sent you a direct email and I appreciate your consideration.
We do still own the lot and would part with it at a very reasonable price. ( I was in town about a week ago and the street is as beautiful as ever! )