Ronald Charles Flynn, P.A.

I also agree with the other responses. This is a tough market if you need to sell now. What may help is obtaining three apraisals from three licensed appraisers. Basically, you throw out the high and the low appraisals and keep the middle for a basis. Ask the lender if this would be acceptable. This is the practice used by some corporate relo programs for establishing the value of employee homes of employees being transferred at company expense. I personally experienced this practice during my relo's when I worked for a large corporation (AT&T). It sets a fair market value based on current market conditions. This is worth the price of the appraisals when there is a large gap in price and value, and you need to make a financial decision as you are doing. It was alway my luck to be moved in a declining market. Another option is to sub-divide the 22 acres and sell off the parcels. That may require a rezone for density, but could be worth it. Sub-dividing and re-zoning may actually increse the value of the 22 acres on paper. Consult with a local commercial realtor who specializes in deveopment. - Wed Jul 2 2008, 09:31