Vacant land or tear-down purchase

Buyers have some options with homes on high land values

Pettingell sets another Sarasota record
Congratulations from the Longboat Observer - The local paper had this advertisement on December 28, 2017

I hope your new year’s celebration was joyous and you were able to spend it with friends and relatives. We could see the fireworks from Bird Key and knew there were many celebrations around Sarasota with something for every member of the family. Happy new year! I have already set my goals for 2018 in luxury waterfront property sales and hope I can hurdle my $105 million record sales in 2017 for an individual agent in Sarasota.

Today I am going to focus my Home Showcase series on homes where the land value is more than the home on it. A wise investor can tear down the home and increase the property value for resale. I have also seen that the location of the home was more important so a buyer is content with living in the home. A third option is living in the home until the buyer has a financial comfort level to renovate in time. The three properties I selected today are in different stages of this process for my Home Showcase XIX article. Bargain hunters looking for a good value might be interested in these properties.


The value of a Gulf-front buildable lot on north Longboat Key

5809 Gulf of Mexico Drive on Longboat Key
Vacant lot at 5809 Gulf of Mexico Drive

The first home is a Gulf-front site ready to build upon! Buildable lots are wonderful because the cost of tearing down the structure has already been absorbed by the buyer. The property at 5809 Gulf of Mexico Drive on the northern end of Longboat Key is in a wonderful location to begin your dream. This quarter-acre property is steps to the beach. You can work from own plans, but this one includes existing plans for a designer, two-story beach home, ready for you to customize. The importance of this home is that you have your own beach to watch the brilliant sunsets over the Gulf of Mexico waters. It is listed at $1,195,000.


Home in Harbor Acres, close to everything in downtown Sarasota

1571 Hillview Drive in Harbor Acres
Choices - 1571 Hillview Drive

Located on an oversized, corner homesite in the exclusive community of Harbor Acres, this 5BR garden home is in a prime spot. Harbor Acres is a private gem, nestled just minutes from the bustling city lifestyle of downtown Sarasota, as well as pristine beaches at Siesta and Lido Keys. Welcoming you with lush tropical landscaping, pavered walkways, the 3,300+ SF open layout of this home can be a great home improvement project or wonderful space for new construction. This is a good value considering the average asking price in Harbor Acres is $2.08 million for a vacant lot. The only vacant lot sale in 2017 here was $2.65 million and the highest home sale in this community was $6 million. The home at 1571 Hillview Drive is listed at just under $1 million.


Recently updated home in Weston Pointe, with dock and lift

610 Weston Pointe Court on Longboat Key
Updated - 610 Weston Pointe Court

Fall in love with the ease of maintenance-free living in the rarely-available Weston Pointe community of Longboat Key. This lovely 3BR/3BA home has recently been updated, newly-furnished, and is now ready for you to enjoy. Recent renovations include two new air-conditioning systems, upgraded eat-in kitchen, freshly painted walls, and newer pergola on the open lanai. Weston Pointe residents adore this special neighborhood, featuring its own marina, with deeded access to private docks and lifts. This home at 610 Weston Pointe Court is specially priced at $999,000, a good value for its upgrades and community amenities.


The Weston Pointe home is a new listing last week. It is a good addition to my inventory for sale, adding to a good variety of homes, prices and locations. I also talked about a residence makeover project in the Beachplace community on Longboat Key, with before and after photos last week in my REALTALK™ #152 video. It shows what can be accomplished to increase the value with a little vision of what buyers are looking for. I discuss this topic also in REALTALK™ #50 when I talk about pricing waterfront property and REALTALK™ #54 in a discussion of tearing down a mansion for the value of the land. Have a good year in 2018. Please contact me at (941) 387-1840 for an exclusive showing or if you have a property to sell or buy.

 

Call us at (941) 387-1840 for an exclusive showing