Create an Email Alert
Alerts are a great way for you to stay up-to-date on things you care about. We will email you a list of the new items that match your criteria at a time of your choosing.
This alert is for the following:
- Topic:
- Land speculators are in the deep doldrums.
Land speculators are in the deep doldrums.
scott daniels, "floridalistforless"
Real Estate Agent
View my 351 listings
Contributions: 1194
View full profile
He`s not alone.Many of the major builders in this area, are faced with the same dilemma.
During 2000-2004 land in Florida was extremely cheap. I remember investors would purchase lots in Leigh Acres, Ft. Myers, Ocala, and Gainesville for less than $9K an acre. They drove the lots higher and in many cases tripled their investment.
With new construction slowing down and prices decreasing, those who are looking to sell their lots that were purchased for $25,000 are now looking at $11-15K.
There are not many buyers unless you`re prepared to take a loss.Many developers are waiting to see how this plays out, some are waiting on the sidelines anticipating another reduction, before it gets better.
In the case of our potential client. We discussed the possibilities of taking a loss, which he`s prepared to do. It`s hard to remain on the sidelines
If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.