[sunrico90]

Maybe one of our Realtors my DM you with an offer

[TampaKaren]

I shouldn't be the party pooper, but there are over 100 properties on the retail market in Plant City that are between 2 and 5 acres. I hope you can price it right and sell it fast!

Good luck!

[macguy]

Originally Posted by LewLew

With all that land, you need to advertise the value is in the land, and it's sellable later (unless I misunderstood your thread). List at 300K, and say you are motivated. While realtors don't like to do that for fear of low ball offers, I say you can always say NO to anyone (It's your house), but it gets the traffic through the door....traffic can't be a bad thing in this market. I agree with Sunrico...advertise nationally (Canada for SURE!)...it should sell...be patient, give it 60 days at 300, then go to 275 for another 60 days. If it hits enough people, and you can hit the right demo for your property...it will sell. DO get it appraised again however...if you can. Show that to the buyers if it's well above what you are selling it for. You can also advertise as RELOCATING..priced below appraisal value..great land investment with gorgeous home included!

All that land can be a draw back. Except for those looking for specifically that, it excludes a hugh percent of the market who otherwise may be interested. Most people don't want to be bothered with maintaining that much land. Also you usually can't sell it off because they have building restrictions and you need road frontage. It's like a pool, many people don't want a pool but otherwise may like the house and you can't make a deal.

[CJFlorida]

Originally Posted by TampaKaren

I shouldn't be the party pooper, but there are over 100 properties on the retail market in Plant City that are between 2 and 5 acres. I hope you can price it right and sell it fast!

Good luck!

I was thinking the same thing. She is a very nice person looking for some support. We need to be careful throwing numbers at her, $275,000, $300,000, etc. And advising listing for 60 days at this price, then dropping for 60 days if it does not sell...no offense, in a falling market that will only chase prices down and you will end up losing a ton. 120 days from now that market will most likely be much lower than it is today.

You have to look at the potential buyers for a property like that. Most likely not a baby boomer retiring, they want low maintenance condos or small single houses on small lots. Not really the set up for a 2nd home for NE snowbirds. The most likely buyer is probably a young family, in an area where the median income is $42,000. Multiply 3 times $42,000, which is about what lenders today are approving, and you see the dilemma we have with her property. The pool of buyers that can get approved and afford to spend more than $150,000 for that sort of property with today's tighter lending standards is very small.

We are entering a very bad time for Florida real estate and none of us can even fathom how low prices will go. She had that appraisal done at the peak of the bubble. This thing is just getting started down hill, appraisals done back then could be 50%, 60%, 70% inflated. Many real estate people are thinking that no one has a clue the true values of Florida and California properties due to all the nonsense since 2000. It is very likely an appraisal done at peak bubble is totally worthless. That means she needs to start with a fresh mind, and realistically find out what her starting asking price should be.....based on today's reality.

I hope she posts what she eventually sells for, but my gut says it won't be anywhere near what some are suggesting in this thread. I won't list my guess, but it is a lot lower than $275,000, a whole lot lower. I hope I am totally wrong though, she seems like real decent folk.

Anyway, best of luck to her.

[MrTudo]

Has the bidding started yet??

[MrTudo]

TampaKaren, you are without a doubt the exception to the rule. Just gave you a positive

[Petertherock]

Why anyone would want to move to MA is beyond me. I lived there almost all my life (moved to Maine in 2000) and as bad as Maine is MA sucks worst than any other state I have been in. They couldn't pay me enough to move to MA. Unless you are a bleeding heart liberal/communist MA sucks.

To give you an idea, the City of Cambridge made the boy scouts remove collections baskets for supplies for the troops from the voting areas on election day because one person complained saying this was promoting the war. The communism in that state is beyond moronic.

[LewLew]

Originally Posted by CJFlorida

I was thinking the same thing. She is a very nice person looking for some support. We need to be careful throwing numbers at her, $275,000, $300,000, etc. And advising listing for 60 days at this price, then dropping for 60 days if it does not sell...no offense, in a falling market that will only chase prices down and you will end up losing a ton. 120 days from now that market will most likely be much lower than it is today.

You have to look at the potential buyers for a property like that. Most likely not a baby boomer retiring, they want low maintenance condos or small single houses on small lots. Not really the set up for a 2nd home for NE snowbirds. The most likely buyer is probably a young family, in an area where the median income is $42,000. Multiply 3 times $42,000, which is about what lenders today are approving, and you see the dilemma we have with her property. The pool of buyers that can get approved and afford to spend more than $150,000 for that sort of property with today's tighter lending standards is very small.

We are entering a very bad time for Florida real estate and none of us can even fathom how low prices will go. She had that appraisal done at the peak of the bubble. This thing is just getting started down hill, appraisals done back then could be 50%, 60%, 70% inflated. Many real estate people are thinking that no one has a clue the true values of Florida and California properties due to all the nonsense since 2000. It is very likely an appraisal done at peak bubble is totally worthless. That means she needs to start with a fresh mind, and realistically find out what her starting asking price should be.....based on today's reality.

I hope she posts what she eventually sells for, but my gut says it won't be anywhere near what some are suggesting in this thread. I won't list my guess, but it is a lot lower than $275,000, a whole lot lower. I hope I am totally wrong though, she seems like real decent folk.

Anyway, best of luck to her.

I do agree with you. I did advise the OP to get another appraisal done. However, every house doesn't appeal to the masses, and you have to capitalize on what it does have for a certain demographic. Someone mentioned a pool. Well, you do want to advertise you have it...the folks who don't want a pool aren't going to be fooled that it's not there if you don't mention it. The OP has a lot of land...not going to go away if she doesn't mention it. The OP has to identify the appropriate buyer, and cater to them. You can mass advertise a property hoping not to turn off some buyers. The home is what the home is, and the right person will buy it. The price will be what is mutually agreed upon by the seller, the buyer and the market. Truly, if you want to do what is best for the OP, tell her to talk to an expert in her area, and don't give them any advice. Just telling the OP that the market is horrible, and not improving, and overwhelmingly awful, etc. isn't helping the cause either.

[macguy]

Originally Posted by LewLew

I do agree with you. I did advise the OP to get another appraisal done. However, every house doesn't appeal to the masses, and you have to capitalize on what it does have for a certain demographic. Someone mentioned a pool. Well, you do want to advertise you have it...the folks who don't want a pool aren't going to be fooled that it's not there if you don't mention it. The OP has a lot of land...not going to go away if she doesn't mention it. The OP has to identify the appropriate buyer, and cater to them. You can mass advertise a property hoping not to turn off some buyers. The home is what the home is, and the right person will buy it. The price will be what is mutually agreed upon by the seller, the buyer and the market. Truly, if you want to do what is best for the OP, tell her to talk to an expert in her area, and don't give them any advice. Just telling the OP that the market is horrible, and not improving, and overwhelmingly awful, etc. isn't helping the cause either.

Your right, something like horses allowed would be a plus for someone looking for that. It's interesting how few posable buyers you really have when you come down to it. When I have something for rent I hate to miss a call because you never know if that may have been the one. Here's what I mean. You place an ad in a paper with a circulation of 100,000 and you think you are really out there. The reality is, of those who see you ad only a very few are real prospects. You may get say 40 calls on the ad. Some it may be too far from their work.

Other have kids and you may not want take kids. Some will find it a little to high for them. Others after seeing the place want something nicer. another likes it but wants to negotiate the price or is short on move in money. Another you would not rent to at any price. When you are done out of those 40 calls you may have 3 or 4 real possible prospects. If I paid $125.00 for the ad, in a sense I paid around $30.00 each to talk to the possible renters the rest were a waste of time.

It is so hard to find the right renter and same with a buyer except harder. It is a real crap shoot hoping to find that buyer that would jump on your property in a second, but they "are" out there even now. Figuring out who your possible buyer really is and being sure you advertise it to them, gives you a much better chance of finding that right buyer.

I sold a business years ago before the internet. I had it for sale for over a year with no real serious interest. I took a shot and put ad's in the WSJ and NY-Times. This was not cheap. In one week I had a buyer a retired tire store owner who was moving to Florida in my area and wanted something to do for him and his son and a little bar sounded like what they might like. I actually got a lot of calls but this guy flew down and we had a deal in a week. Go figure, one year and not one serious offer and I sell in a week putting it in a different market. It just goes to show you, you never know. A property can be in the MLS with zillions of possible buyers but who really is your buyer and how do you find them? You need to do more then leave it to chance.

[LewLew]

Originally Posted by Petertherock

Why anyone would want to move to MA is beyond me. I lived there almost all my life (moved to Maine in 2000) and as bad as Maine is MA sucks worst than any other state I have been in. They couldn't pay me enough to move to MA. Unless you are a bleeding heart liberal/communist MA sucks.

To give you an idea, the City of Cambridge made the boy scouts remove collections baskets for supplies for the troops from the voting areas on election day because one person complained saying this was promoting the war. The communism in that state is beyond moronic.

How about the Santa crap, and the banning of "Miracle on 34th St"? Wouldn't live there if you paid me.