Property for Sale? Yours, Mine, Anyone's... tips and tactics

[T&C]

I'm Really hoping that some conglomerate buys out my area... went from  a 2 lane road with cow pastures to nothing but commercial. I'm on a half an acre just 600 feet from this. Somehow my house is zoned for a daycare or something similar. Any stories would be great.

 

Here is an oddball kind of sale going on:

 

https://www.wfla.com/news/ranch-bordering-area-51-for-sale-including-black-mailbox-famous-with-the-alien-obsessed/

[Saxum]

Only thing I can suggest is make sure you show up in an zoning hearing meetings.

https://planning.rctlma.org/Public-Hearings/Planning-Commission/2020-PC-Meetings

 

I have 2.38 Acres next to me which was original house on farmland whose owner sold rest of land to developers.

It was resold in 2005 (I think owner died) and has appeared uninhabited since.

Heard someone want to rezone land from 3 single homes per acre to clustered housing to cluster housing likely townhomes like across the street.

Had someone who wanted to buy strip of my property along main road enough for an additional lane of traffic which I said I had no interest.

 

Key thing is keep your ear on news and do occasional search so no surprises. 

I'd look to see when area was rezoned if it was not zoned for it when you purchased it.

 

 

[T&C]

15 hours ago, Limeaid said:

Only thing I can suggest is make sure you show up in an zoning hearing meetings.

https://planning.rctlma.org/Public-Hearings/Planning-Commission/2020-PC-Meetings

 

I have 2.38 Acres next to me which was original house on farmland whose owner sold rest of land to developers.

It was resold in 2005 (I think owner died) and has appeared uninhabited since.

Heard someone want to rezone land from 3 single homes per acre to clustered housing to cluster housing likely townhomes like across the street.

Had someone who wanted to buy strip of my property along main road enough for an additional lane of traffic which I said I had no interest.

 

Key thing is keep your ear on news and do occasional search so no surprises. 

I'd look to see when area was rezoned if it was not zoned for it when you purchased it.

 

 

If I'm reading this right, you want to stay in the home you currently reside in. Me, I would have sold the strip and also be glad for the build up around me. Either way, with everything that Has gone on around here it has turned my property/house into a very unique place as far as proximity to seemingly everything now within walking distance. I really want to get on a few acres in the mountains, N.C, PA, somewhere like that. I'd love to move back to WNY but the taxes are pretty stupid.

[Saxum]

It would have moved the road closer to my bedroom and make the lot next door easier to develop which I certainly did not want.

[T&C]

21 minutes ago, Limeaid said:

It would have moved the road closer to my bedroom and make the lot next door easier to develop which I certainly did not want.

In a case like yours, how much would your land/home go up in value? Or a buyout from a developer?

[Saxum]

The person was looking to develop property said he'd pay $40K for a strip of land along main road and this was 2005 or 2006.

He would only pay though if he got rezoning proposal so he wanted rights option.

 

Do not remember exactly tax bill but estimates were skyrocketing at time; +94.3% in 4 years.  I think there was anticipation of deal for then next 2 years it dropped 16.9% & 28.4%.  Highest tax assessment was $531,260 in 2005 and in 2019 it was $472,040.  There was a luxury townhome development put up across street which raised taxes as well and likely that is what developer was likely wanting to develop on that 2+ acre lot.  My property is 0.235 acres.

 

Any money I got would probably affect estimate to change but if price per square foot on land was more than what government was assessing they would likely raise my estimate of my remaining parts of property at that rate which might mean that my taxes going up more than it was before sale.  

[Saxum]

One tip I will suggest to selling property is to be willing to hold the mortgage.

By doing so you gain additional potential customers and potential collect more interest than you can in other investments.

I have done so on house I own.  First I rented it and then after a long period a tenant was not able to pay rent so I told her she needed to move out and so she destroyed interior requiring a full remodel so I sold it in 10 year balloon mortgage with agreement I would hold mortgage with decreasing penalty for paying it off early.

Almost end of period and if he decides to pay it off will need to look for new investment for remaining balance.

[US Egg]

Maybe not pertinent to the thread but:

 

Bought a house with a 4 acre parcel on a cul de sac that borders a creek in a populated area.

 

Didn't need flood insurance to buy it when I did.

 

Now if I sell new buyer needs to get flood insurance. 

 

Never was informed of the change.

 

 

Edited February 16, 2021 by I am the egg man