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Current Top-Rated Posters

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sue in el paso, TX0.001

Thanks to Mark and Elaine, I am getting a bigger house on a bigger piece of land in a much better area, instead of buying a smaller house on a smaller piece of land by a known builder here. I pulled back a $5,000 check I paid this builder after reading their book and bought a piece of land instead.
Shankar in Mountain View, CA



Posted by Mike & Carolyn in Smithville, MO on 11/14/2008 2:15:01 PM

Our neighbor to the west on 6.5 acres just sold their home and moved to Florida.  It sold for $289,625, which I have mixed feeling about.  Yes, it's a horrible real estate market right now and they needed/wanted to sell so they did it after attempting to sell for $350,000 with no success. It's a smaller, older home and if it wasn't on land would probably only sell for about $140K and their land would sell for about 15K per acre. Which leaves 50K for the large barn with concrete floor, heat and plumbing and the pond put in a few years back.

Our neighbor to the east just bought his 8 acres a little over two years ago and built a nice new home. Which he too has been trying to sell for the past 6 months or so.  He started just under $500K and is now at $485K. (which is still... just under $500K)  He bought the land about three months before we did for $139K. He is also the son of one of the area's larger builders and works for the building company and is a Realtor -- meaning he saved on the construction of the home and will save on the commission when selling.

The neighbor to the east called last night to say that he has someone interested in buying his home but they want to buy our place too..."Are we interested in selling?" 

We're not even done building yet!  Never thought about selling it. I told him that we plan on building another home on the property since all we have there now is our garage (guest house).  He said he wondered about that since it was so small and off to the side. We talked about it and left it that we would look at any offer they wanted to make... and they should make a serious offer with a seriously large price.

We haven’t heard anything back.


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