nhbourne, Home Buyer in Port Charlotte, FL

The home at 51 Hoffer St. , is that a fare price for a waterfront home with an extra lot ?

Asked by nhbourne, Port Charlotte, FL Sat Jun 22, 2013

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6
Kessel Holdings LLC

http://www.kesselholdings.com

571-330-3531
0 votes Thank Flag Link Thu Aug 15, 2013
This house is in the middle of nowhere. Look at the map here: http://goo.gl/maps/z0yGR The house has a spare lot because the lots nearby are also very far from the harbor. There is little demand for these lots even though they are located on a canal. You have to consider that since many canal houses there do not have seawalls, and none of the vacant lots, the canals have a tendency to fill themselves in with dirt. Many of these canal lots are not built upon for over 30 years. Homeowners will have to pay to have the canals re-dredged. If most of the homeowners do not want harbor access, you will be stuck with the bill. The vacant lot owners will vote no on chipping in on paying for dredging as when they want to build when they retire in maybe 40 years, it will need dredging again.

I would examine the canal water depth at low tide with a north wind. Allow for the fact that the time of day for low tide will be way off of published sources; usually the tides run late. Notice how high above sea level the land is located.

Look at the nearby blocks. Dozens of these blocks have no houses. This is because there are so many lots with houses built on them for sale at far less than the cost of building a new house with today's codes which may be on stilts by building time depending how far the lot is above eight feet above sea level. Hurricane codes change. My house was 100% protected in 2010. Then the county changed the protection codes and my skylights dropped my house to 0%. I need a few more storm shutters before I re-new my hurricane insurance in December.

At only 1518 sq. ft. but 17 years old, I would appraise it at $50 per sq. ft. plus MAYBE $50,000 for the lot or $126,000. I would buy a bigger house off water and rent boat storage nearer the harbor for my boat. There are too many unknowns about the canal, and whether the whole canal needs expensive work.

If you buy a train ticket, you pay a FARE. If you do not want to pay too much, you want a FAIR price.
0 votes Thank Flag Link Sun Jun 23, 2013
It appears to be a fair price but I would do a CMA if you really want a great indicator of the value.
I would be happy to show this house if you would like to see it.




Thanks,
Leonard Hughes-Realtor 941-786-8487
Fax, 941-870-9233
Green Lion Realty
493 Barger Dr, Port Charlotte, FL 33954
Leonard@GreenLionRealty.com
http://www.GreenLionRealty.com
0 votes Thank Flag Link Sat Jun 22, 2013
Although this is a saltwater canal home, it is quite a distance to get out to the Myakka River. You can view it on Google Maps. There is also no seawall. The home is on a double lot with a pool and fence and it is a fair price. I would be happy to send you the MLS sheet, County Report and Comparables on the home. If you would like to see the home, you can contact me and I will set up an appointment to show it to you. It is being sold as is. The side garage door has wood rot and the sprinkler system is manual.

Tammy Hayes, Realtor
RE/MAX Palm Realty
tammyhayesre@gmail.com
941-276-6185
http://www.tammyhayes.remax-florida.com/
0 votes Thank Flag Link Sat Jun 22, 2013
An updated block home, on a double lot, with a pool, on a saltwater lot for $189,900 is fairly priced. There is quite a distance to open water, which is probably considered in the price. If you would like me to forward you comparable sales to give you a better idea of our market, please contact me at 941-286-4173 or goldmann3@comcast.net.
0 votes Thank Flag Link Sat Jun 22, 2013
I would say that it is a fair deal. Have you been looking in the are for some time now? I have to pass by there tomorrow. Would you like to schedule a showing? If so feel free to contact me.
0 votes Thank Flag Link Sat Jun 22, 2013
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