looking for value of a lot - Pensacola Fishing Forum

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Old 06-30-2019, 12:29 PM   #1
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Default looking for value of a lot

I need real dollar value of a lot I own for sale not factoring some lots that were dumped to quick cash sale.. Problem is I can do comps. What I really need is the real value due to limited lots left in a growing area.
Not trying to get rich but not giving it away.
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Old 06-30-2019, 01:17 PM   #2
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since you can do comps, and only you know where it is, its size, interior, exterior lot, whats surrounds the lot... paved road, dirt path, cleared, sewer and other utilities close, if not will it support a septic system, dry, wetlands, a 60K neighborhood, or a 500K neighborhood..... is it commercial or residential. lord, the list goes on and on....

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Old 06-30-2019, 02:42 PM   #3
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Get a local realtor or two to look at it, they should be able to give a fair market value for it. Also, you can have it professionally appraised $$. Bottom line, it's worth what someone will give for it.
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Old 06-30-2019, 03:03 PM   #4
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I would get up with a realtor that knows about shark fishing.
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Old 07-01-2019, 09:25 AM   #5
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Quote:
Originally Posted by Realtor View Post
since you can do comps, and only you know where it is, its size, interior, exterior lot, whats surrounds the lot... paved road, dirt path, cleared, sewer and other utilities close, if not will it support a septic system, dry, wetlands, a 60K neighborhood, or a 500K neighborhood..... is it commercial or residential. lord, the list goes on and on....
I understand what should be factored in but the two realtors who wanted to sell my lot were $12,500 apart in their [ appraisal ] also a few lots close by were dumped for around taxable value. So how would you approach this ? Like any transaction for boats, house, guns ect I do realize it is what the buyer will pay for it.
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Old 07-01-2019, 09:35 AM   #6
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Comps, your future buyer will be looking at the comps.... (Possibility the same comps your Realtor(s) did...) if you were looking to buy the lot, you'd be looking at these comps as well. Then your negotiation skills enter the equation. unimproved property can be a bear to sell sometimes....

Like I said above, it all depends on the lot itself. Other than that there isn't really anything anyone can tell you, that you don't already know...
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Old 07-01-2019, 09:35 AM   #7
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Put it on the market 20% over the higher evaluation, then let the market decide, you'll find out if it's overpriced.
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Old 07-01-2019, 09:41 AM   #8
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Put it on the market 20% over the higher evaluation, then let the market decide, you'll find out if it's overpriced.
not super good advice. you only have one shot at being new on the market, after that you will blend into he rest of the noise in the RE market..... then you have to wait your turn and take your beatings as they come.... price it right and sell it.... it all boils down to the lot and the comparable lots....

example, the lot down the street (all things equal) is listed for 18,500 and has been sitting there for sale for 18 months...... don't price your lot at 30K..... besides your lot may back up to a mobile home park, or a temporary RV park.... only you know the details....
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Old 07-01-2019, 09:44 AM   #9
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If someone wants the property they will make and offer, people these days have no problem hurting your feelings about underbidding the property value.
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Old 07-01-2019, 02:55 PM   #10
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not super good advice. you only have one shot at being new on the market, after that you will blend into he rest of the noise in the RE market..... then you have to wait your turn and take your beatings as they come.... price it right and sell it.... it all boils down to the lot and the comparable lots....

example, the lot down the street (all things equal) is listed for 18,500 and has been sitting there for sale for 18 months...... don't price your lot at 30K..... besides your lot may back up to a mobile home park, or a temporary RV park.... only you know the details....
I have heard this before. I just sold a lot (if it closes) in 24 hours of it being on the market. Again, it's all about location.
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