Leslie, Other/Just Looking in Connecticut

Is it worth approx. $3000 (back taxes and Probate)to keep a lot on Dakota Avenue in Port Charlotte FL?

Asked by Leslie, Connecticut Fri Jun 27, 2008

My Father in Law passed away without a will and left my husband and I a lot on Dakota Avenue. My husband is now the only living child. The property has back taxes and we would need to come down to FL fro CT to file probate, We were wondering if we should just let the property go or if it is worth the money to keep it. The lot is 10,000 ft. Any feedback anyone would have would be greatly appreciated. Thanks in advance!

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6
It would be worth it to me to keep it. Think of it this way, you get a lot for $3k. You may have to pay the little bit of taxes for a few years, but if you can afford, why not? Hey, maybe there will be another building boom and it will be worth $50k in a few years, doubt it, but you never know. Remember, they can make more of everything, except land. Take a vacation to FL, pay off your lot, and go see Mickey. If you want to give it to me, I would take it for $3k, haha. Good Luck.
1 vote Thank Flag Link Fri Jun 27, 2008
Leslie,

Since building has slowed so has the demand for lots. As you would guess, lot prices have declined along with home prices. The lot value for the area is in the $15,000 to $23,000 range. The fact remains that these lots are not selling and probably will not sell for a while.

Good luck,
The"Eckler Team"
1 vote Thank Flag Link Fri Jun 27, 2008
Keep it as long as you can, don't sell anytime soon! Great location. Good luck.
0 votes Thank Flag Link Mon Jul 28, 2008
she did say "Dakota Street in Port Charlotte". If you continue in CCAppraiser you will see there is a Dakota Street in Port Charlotte
0 votes Thank Flag Link Mon Jul 28, 2008
Dakota Ave is located in Grove City and the Charlotte County Property Appraiser has many of the lots on the street appraised at around 18K. It is doubtful that you would be able to sell the lot for this amount due to the lack of construction in this area. Additionally, if there was a home built on this street it would most likely need flood insurance.

It would probably sell in the range of 5K-15K, if you could find a buyer.
0 votes Thank Flag Link Mon Jul 28, 2008
Hoping the lot is not in a scrub jay habitat, the lot is worth $5-8K. The probate (you don't need to be here to complete) will run you close to a grand. The lot most likely will not appreciate for a minimum of 5 years. You make the call. Check my lots lists at http://www.askforjohn.com/lots to see available lots in the area of Dakota currently for sale. If you would like to determine if the lots is in a scrub jay zone go to http://www.askforjohn.com/scrubjay.htm
0 votes Thank Flag Link Mon Jul 21, 2008
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