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Spanish Fork : Real Estate Advice

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  • Home Buying1
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Activity 3
Sat Aug 3, 2013
Todd Watson answered:
The property you are asking about is 0.20 acres. Comparing it to your neighbors land values that are 0.21 acres it comes in at $49,000. However, because all the properties around this property are developed I come up with a sale price of about $70,000. I would suggest listing it for about $85,000 if you are considering selling it. ... more
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Tue Jul 30, 2013
Derek Seal answered:
Well a lot of factors go into the price of a lot - location, topography (which side of the street its on), improvement costs, etc. All of these go into the marketability of the property.

This information will help give you a ball park and over view but consult an expert like me to interpret the data for your time frame of selling or buying as we can let you know how the time of year affects the price.

Within a 5 mile radius there are 14 active properties for sale. The median list price is $79K with a range of $65 to $95K.

In the last year there have been 29 lots sell from $22K to $90K with the majority of those lots $60-$70K range. Average DOM varied but overall was 120+ days.

The market is healthy and will be for the foreseeable future and if you would like to sell it there are some specific strategies you can use to make a vacant lot sell faster.

I have purchased and sold many vacant lots over the course of my career and if you need more information or ideas you can contact me directly.
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