Palmeira Villas, I'm Ready NOW!

In response to private messages:

The lot is 40x80. The buildout time is June '07. It appraised in October '05 for $549,000.

MLS # please.

I see 13 lot listings out there - but nothing for $380K

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Mls# 427786

I still have it on the MLS at $410,000. Trying to look out for the other sellers as much as I can.

Very good - thanks Spencer and best of luck. I will pass this on to my interested clients.
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I need some feedback. What is everyone's opinon on this property and the price?

Do you really think that offering a $5 commission to selling agents will produce the desired results?

I need some feedback. What is everyone's opinon on this property and the price?

Well, since you asked...

October '05 appraisal is "stale." Savvy buyers won't be fooled by this information; either reappraise and price accordingly or leave the information out--it's not helping.

If you'll look in agent notes, I stated that they can work out a commission from their buyer. I just dropped my price $25,000 on the MLS today. If someone wants to pay $395,000, the other agent can keep $10,000. I want the general public to see my asking price.

I think you're getting too 'creative' with the numbers - stick to the basics. I like the project and your agressive pricing, but for Pete's sake Spencer, take care of the selling agent who might otherwise be inclined to bring you an offer.
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It seems that things are starting to possibly move a little bit so I thought I would throw this back up here. 2% commission to selling agent.

I thought that typically selling agents charge 10% for lots? Am I wrong here?

Real Estate 101 - never talk about what others charge or imply there is a "norm". Didn't you see that silly movie in RE Class about antitrust issues and price fixing?

Good point, thanks for the reminder.

Normally, appraisals are good for at most 180 days. Some lenders max at 120 days.

I got a private message asking if there was a previous appraisal. That's the only reason it is up there. I'm not trying to say the lot is worth that in today's market by any means.

I have not seen a 10% comm. in a lonnnnnnnnnnnnnnnnnng time. It seems here on 30-A it varies from 3% - 6%. OCCASIONALLY you may see one higher...

I thought that typically selling agents charge 10% for lots? Am I wrong here?

For comparison, I've got a Cassine Village lot right next door, 60'x60', looks onto the pond, no build date, that I'll sell for $325K. I'm an agent/owner; the lot is not listed at present.

Besides being close to eachother, I wouldn't really say these 2 subdivisons compare to eachother.

Spencer is correct, the two are much different. Palmeira doesn't have commercial units, condos and townhomes in the development. I prefer Cassine to Palmeira, but that is just me.

I prefer being in the smaller, gated subdivision instead of a bigger, overcrowded one. It's a much shorter walk to the beach also.

I guess "overcrowded" is relative .... if one would measure cubic feet of building per acre of ground, the residential portion of Cassine is the wilderness compared to Palmeira.

I'm not going to argue about it. I hope you sell your lot.