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Selling Wooded, Hilly Acreage

I recently bought a home that comes with two additional parcels of land (each is 8 acres) about a half hour north of Charlottesville, VA.  They have spectacular views, but they have a couple setbacks as far as trying to sell them.

(1) The lots are heavily wooded, so that in the summer you can't automatically see the great views they have.  

(2) There are currently no access roads, and b/c the lots are somewhat steep (and wooded) it's not as if an SUV could drive through them as one could do on a flat pasture with no trees.  So, this means potential buyers couldn't access the lots except by hiking them. (The actually steepness isn't a problem for building, since on the lots next to these ones houses have been built on land that's even steeper).

*So, my big concern is that the lots will be on the market forever and I won't get as much as I could because they don't have an access road for people to get up there, and then once they're up there, they won't be able to see the views because of all the trees.

That leads me to my question--Should I see about getting a loan to put in rough gravel roads and clearing of some of the timber in a few areas to showcase the views, or is it not worth the expense?  In other words, would I probably not even get a higher sale price or sell the lots faster if I did these things?

Thanks for any advice or input.

  • May 21 2013 - Charlottesville
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