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ieatwings

Beach Comber
Feb 18, 2008
12
0
Not sure if this is the right place to post? I am desperately trying to sell my property in Heritage Plantation in Laurel Hill, Fl. Can anyone offer any advice that could help me? We have been through 2 realtors in the past year with no results. It is an interior lot across from the 9th fairway. Any help is greatly appriciated!
 

traderx

Beach Fanatic
Mar 25, 2008
2,133
467
Unfortunately in this market, price.

What feedback did the agents give you?
 

ieatwings

Beach Comber
Feb 18, 2008
12
0
We purchased it in Jan. 2006 for $130,000 and currently have it listed for $120,000. At that price, we will still have to bring a good chunk of money to the closing table. Realtors have not given us much feedback, just the same old "the market is slow right now" which we already know.
 

Matt J

SWGB
May 9, 2007
24,643
9,496
Can you afford to hold it? If so do that, because otherwise your looking at a huge loss.
 

ieatwings

Beach Comber
Feb 18, 2008
12
0
Can you afford to hold it? If so do that, because otherwise your looking at a huge loss.


We're already into it for $175,000 with all the interest, fees and property taxes. My fear is that if we hold on to it, it will never appriciate enough to make up for the money we've already put into it.
 

Matt J

SWGB
May 9, 2007
24,643
9,496
We're already into it for $175,000 with all the interest, fees and property taxes. My fear is that if we hold on to it, it will never appriciate enough to make up for the money we've already put into it.

Okay so the loss is already there. Have you shopped lots around you that are comparable? If they are selling you may need to match their price.
 

ieatwings

Beach Comber
Feb 18, 2008
12
0
Okay so the loss is already there. Have you shopped lots around you that are comparable? If they are selling you may need to match their price.

We have shopped around. The interior lots in Heritage Plantation are priced from $120k to $140k so we priced ours at the very bottom of that range hoping for results. So far, we havn't had any interest at all. We're willing to accept the loss at this point, we just don't want to lose any more than we have to. If we could, we would be better off building on the property ourselves and moving there, but we are a military family and are stationed in Ohio. We bought it as an investment, but boy, did that backfire!
 

Matt J

SWGB
May 9, 2007
24,643
9,496
We have shopped around. The interior lots in Heritage Plantation are priced from $120k to $140k so we priced ours at the very bottom of that range hoping for results. So far, we havn't had any interest at all. We're willing to accept the loss at this point, we just don't want to lose any more than we have to. If we could, we would be better off building on the property ourselves and moving there, but we are a military family and are stationed in Ohio. We bought it as an investment, but boy, did that backfire!

Brace yourself, there's a local contractor feverishly typing up a response or PM. I'm assuming you have it financed so finding someone with less than stellar credit who might want to owner finance is out of the question?
 

ieatwings

Beach Comber
Feb 18, 2008
12
0
Brace yourself, there's a local contractor feverishly typing up a response or PM. I'm assuming you have it financed so finding someone with less than stellar credit who might want to owner finance is out of the question?


We do have it financed. Owner financing is not completely out of the question. With the right down payment amount, I would definately consider it.
 
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