[Tonu]

hi there is this offer from new vista properties with 1/4 acre of land at north port FL for $40,000. but i'm not getting any kind of information how much this lands might worth after 5-6 yrs. I want to build a house there after 5 yrs then put in rent to cover up the morgatge to build house. According to the agent building new home is around 250 k. also if i'm deciding to buy only land now sine i'm a student then build house later, they were saying they would see the price of the land then and automitacally deduct that from the house price then. So i'm wondering if someone knows how these lands may worth after 5-6 yrs. Is it worth buying it, and will the land price increase. I may even sell it. So how r the sellng condition there. i'm going to see the land next week, so some help will be really helpful.

[SoFLGal]

There are thousands of lots for sale right in North Port now and virtually no demand, at this point. I'm sure you've heard of supply and demand. When the demand goes down, so do the prices. It's hard to say what the real estate market is going to look like in 5 years or more. I actually own four lots in NP right now and would rather have my money on other investments. If it were me, I would not buy land in North Port for investment, it's just to uncertain. Of course, it all depends on what price you could get the land for. The average list price for land in NP is $5k and the average sales price for land in NP is $4k.

It seems like you are not ready to purchase at this point. You really need to do your homework and dig up some facts. Don't rely on what one or two people tell you. People are making some money right now buying homes and fixing them up and flipping them. But again, it takes time, money and some knowledge of the local market.

Good luck with whatever you decide.

[floridagirlforever]

$40,000 for 1/4 acre is too high. They went for $55,000-$70,000 during the boom, now more like $7- $13,000 for a nice lot.