For Sellers
If you don't need to sell now, I advise you to wait a couple of years. Prices are down 60 to 85 percent from their mid-2005 highs and sales rates are at least 90 percent slower. Prices are being influenced by sellers that are highly "motivated" and have to sell because of debt, foreclosure, divorce, death, etc. However, those lots that are very competitively priced and well-marketed are getting sold.
There is more than eight years of "inventory" for sale of building lots. That means it will take at least eight years to sell all the 8,500+ lots on the market in Charlotte and Sarasota Counties at the current sales rate. If your lot is not priced to be one of the best priced for it's location and category, it won't attract any offers.
If you have a standard, non-waterfront, 10,000 square foot lot with no central water or sewer, your listing price should be between $6,000 to $8,000. If you need to sell your standard lot at a higher price, you should probably wait 5 to 10 years when prices should recover. Lots with central water or sewer usually get premiums of $1,000 to $2,000. Oversized lots and corner lots also get premium prices. Lots in the best zones of North Port and in deed-restricted communities sometimes get substantial premiums. Lots with scrub jay problems sell at a significant discount from non-scrub jay lots. If your lot is is in a zone without electric access, such as eastern North Port, it will be hard to sell even at a discount. If your lot is in Rotonda, please go to www.RotondaLots.com to get recent selling prices. If you have a waterfront lot with access to the Gulf of Mexico, go to www.GulfAccessFlorida.com to check recent sales prices.
Making the move of choosing a specialist in building lots and investment property is your first step to insuring that you get the highest possible chance of selling in this challenging market. My marketing programs and experience will allow you rest easy knowing I'll get you the best price and quickest sale possible.
The first step in the process is to send me sufficient information about your lot or house ( Tax ID, street address, owner's name ) so I can identify and calculate a selling price for the property. You can contact me at 941-661-2577 or at abroslat@ureach.com . I will then recommend a selling price to you. Assuming we agree, I'll send you a listing agreement to sign and we'll start selling your property.
Note: Most Sarasota and Charlotte County lots usually have a market value much lower than their taxable appraised value due to the severe market price decline since the beginning of 2006.
Offering owner financing can help. Normally, sellers will offer three year financing with a 20 percent downpayment. The seller gets a first mortgage on the property until the loan is paid.
If you have lot on a canal or other waterfront, it is a good idea to get the lot cleared so buyers can see the water. I can help you find a company to get your lot cleared.
My marketing effort includes heavy advertising on Realtor.com, Re/Max.com, Google, Yahoo, and the local newspapers. In addition, Re/max is the largest real estate advertiser in the USA.
Your closing costs will be:
-The real estate commission. My commission rate is 6 percent for lots or houses worth $100,000 or more, if I am both the listing and selling agent, I reduce my rate to 5 percent. For lots worth less than $100,000 but more than $50,000, my commission rate is 8 percent. For lots that are worth less than $50,000, my commission is 10% with a $2,000 minimum. My rates are negotiable for multiple lot deals.
-Documentary stamps which are $0.70 per $100.00.
-Title Insurance and closing cost which usually are less than 1 percent of the selling price.
-Your pro-rata share of the current years property taxes.
-The payoff of any financing you have on the property.
Call me at 941-661-2577 or e-mail me at abroslat@ureach.com and we'll get started selling your real estate.
