my property literally has 3 sides adjoining new subdivisions being built. should i sell now or later? the land is worth more than the house.

Asked by Curious C, 23060 Mon Feb 13, 2012

developer is building oglethorpe park & dalton park...maybe he would want my land?

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Ryan Sanford, Agent, Midlothian, VA
Sat Dec 29, 2012
Hello, Curious:

I may be interested in the land if it is developable. Please contact me.

Ryan C. Sanford
REALTOR®, Associate Broker, CDPE
RE/MAX Commonwealth
Top 1% of REALTORS in Central Virginia
9401 Courthouse Road, Suite 200
Chesterfield, VA 23832
804-218-3409 mobile
804-777-9001 office
804-423-2392 e fax
0 votes
Maureen Schm…, Agent, Ashland, VA
Mon Feb 13, 2012
Hi Curious!

Before I can answer your question, I need to have additional info. Are the New Home Developments almost complete? Who is/are the builder/s? What price range are the new homes selling in? And is your home similar in design or completely different? Even though the land is possible more valuable than the house, it may not be advantageous for a builder to purchase your land for additional development. It will depend upon the size of the land and other factors. You may also visit my website to see homes that are listed for sale in your area to get an idea of what to expect, value-wise, for your home. For a more detailed analysis, or to discuss the pros and cons, feel free to contact me. I am also prepared to send you a Market Analysis via email if you like. Just way the word!
0 votes
Thank you for your helpful answer. It took me 4 months to contact the developer and he IS INTERESTED in my property. However, the offer left a lot to be desired on my part. It was 10% less on the $ and they want me to wait about 4 years!! I could use some advice and quidance, as I'm not real estate savvy, but not stupid either! Any info you could share would be greatly appreciated!
Flag Tue Jul 17, 2012
Tina Beasley, Agent, Saint Augustine, FL
Mon Feb 13, 2012

Your property could be desirable by the developer. You never know until you approach them. Give me a call and I would be happy to assist you with that. My dad was a builder, so I can defintely help you with your quest to sell and possibly to a developer or maybe a buyer that would like the lot.

Tina Beasley
Associate Broker, ASP
Envision Real Estate, LC
0 votes
Deborah Mill…, Agent, Durham, NC
Mon Feb 13, 2012
Home Owner, an easy way to do your homework and collect information to make this decision is to ask several agent to provide you a no cost comparative market analysis and ask them to include data about days on market to sell. This will provide you with information to know if there is a market for your home and if so what your home might bring in the market. As to the developer they may or may not be interested in your property. Most often if they are they usually approach you ahead of time as that is when they are getting their plans and their approvals and permits and such or their buyer's agent does if they have an interest in adding to their development. Of course you can always have your realtor or seller's agent inquire about that also. Hope this is helpful. You will likely have local real estate professionals in your market offer to do this for you.

Deborah Miller, Real Estate Broker, SFR
Coldwell Banker HPW - Southpoint - Durham
0 votes
Wes Atiyeh, Agent, Richmond, VA
Mon Feb 13, 2012
I\Depending on if the developer is interested in your home and land then it might be time to sell. If the land is worth more than the house combined and you get a buyer then sell.
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