cprice, Home Buyer in Lakewood Ranch, FL

Is it better to sell my lot at The Lake Club, Lakewood Ranch or develop and potentially sell once finished?

Asked by cprice, Lakewood Ranch, FL Fri Feb 22, 2013

Help the community by answering this question:

Answers

5
This is a great question! The way I look at it, it all comes down to which way is more profitable for you.

I would start with getting an idea of what prices the different builders are currently offering at this time. Compare apples to apples.

I checked MLS and currently there are 8 lots available on the market in Lake Club. 7 range from 1/2 acre-1 acre with prices of $199,00 up. One larger lot is listed at $499,000 that is 1-2 acres.

Click link below to chk out the properties. See how they measure compared to your lot.
Next. If you are interested I can give you the current homes on the market in Lake Club & the price ranges as well as the time frames listed. Contact me and I can offer a free CMA with what has sold updating you on the market activity in that comunity. All these things need be considered.

VAC - Customer Report

All of this can give you a better idea if its worth investing into building out at this time.

It than is a matter of motivation for the build out or just desire to move on and sell off the lot.

Hope this brings insight!


Stacey LaRosa
LaRosa Realty Team
Atchley International Realty

(941)539-1596
larosateam@gmail.com
0 votes Thank Flag Link Fri Feb 22, 2013
The problem with selling once it is finished is that you will need to find a buyer who wants your exact house. Why would someone buy the house you built rather than just buy a lot and built a home exactly the way they want it? I am running into this very problem with sellers who had a home built in a new construction area, then had a change of heart a decided to sell just as the house was completed...now we need to find a buyer who wants that exact home rather than just build it themselves...
0 votes Thank Flag Link Fri Feb 22, 2013
Thanks for your responses.Ultimately, probably looking to realise the best return - never an easy decision either way.
0 votes Thank Flag Link Fri Feb 22, 2013
It will depend on your lot size and location. The good news is that in the past 12 months there have been 3 lots sold on the MLS. One on Topsail for $249K, and two on Clearlake for $270K and $349K. The bad news is that there are 7 more on MLS waiting for a buyer plus another one pending. These range from $199K to $499K so, obviously, the size and location means a lot (no pun intended!) There were 7 homes sold in Lake Club on MLS in the past 12 months with a range from $206/sf to $350/sf. Again, a big range there. There are only 2 on the market right now, though....one with $223/sf and one with $350/sf. If you can build an attractive house with a competitive resale price, I suppose you could do it but I wouldn't. But, I'm probably too conservative when it comes to these things. :-)
Flag Fri Feb 22, 2013
It depends! - Your goals, your financial where-with-all for the build option and the agreement language in your lot purchase contract - Right now the market seems reasonably healthy for either a building lot purchase or the finished product, but 12 months down the road is likely to be different one way or another. Pat and Randy Lyon 941-228-6448
0 votes Thank Flag Link Fri Feb 22, 2013
I suppose it depends on what you mean by "better". If you are asking what you need to do to no longer have the lot, the first question I'd have for you is does your lot have anything going for it that makes it unique compared to all the other lots being offered? If it does, I think you can probably sell the lot. If it is unlikely that anyone would buy your lot because they can find the same thing thru the ambassadors, I have a feeling that you will need to offer the lot at a much lower price to attract a buyer. If THAT is not an option, then I would consider building but that would be a last resort for me.
0 votes Thank Flag Link Fri Feb 22, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer