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Old 11-25-2008, 04:20 AM
 
Location: Punta Gorda and Maryland
6,103 posts, read 15,091,177 times
Reputation: 1257

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Quote:
Originally Posted by grandmallie View Post
we bought a lot in North Port in an undeveloped area about 5 years ago, where gonna sit on it and built in 10-15 years, well we bought in the over 55 park this year and we payed 24,000 fo the lot and we would be lucky to get 8,000 today ,so we sit pay taxes and wait
You mentioned it is in an undeveloped area, but is it a finished lot, meaning does it have utilities and streets to the lot? - Just curious. If you've always planned on building on it in 10-15 years then you probably didn't make a bad deal, you just didn't buy it during one of the worst deflationary periods ever. By the time you build the property value will most likely be restored. It sounds like you have a good plan.
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