King Oaks 2 acre lot - cant seem to sell it, thinking I should build a home because the houses out there sell.

My Realtor says no.

Which lot is it?

dubi said:

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PaulTony said:

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King Oaks 2 acre lot - cant seem to sell it, thinking I should build a home because the houses out there sell.

My Realtor says no.

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Houses are very personal and I would
Prefer to design and build my own. I agree 100% with your realtor.

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Many people aren't interested in waiting around for a home to be built. You have 6 of one and half a dozen of the other.

First I would look to see if your lot is priced right. If you are pushing the top of the market, you might have to wait a while. If you have it priced a little low, it will move.

You could have the same problem with a home. If you are wanting to maximize the sale price, you might have to be patient and hope the market doesn't drop in the meantime.

Best of luck selling it, but I would recommend against building a house just to sell. What happens if a house doesn't sell? That's a lot of money to be over levered on. And the only one making money on a new build in this situation is the builder.

King oaks takes a specific person to buy in. I would want the opportunity to have a house exactly like I want it if I'm going to live out there vs closer into town.

Just my two cents.

What are the comps for 1+ acres being sold out there ?

Would much rather have the lot, than your house on the lot.

Has your realtor tried to market to any of the local builders? You might find one who can build a spec home or who has a client looking for a place to build.

A well known local realtor who has closed an average of 200 contracts per year for the last decade told me he has never sold a house in that subdivision. It's a great place but seems like a final home location/hood; for what it's worth.

We thought about building out there 5 years ago but between his comment and the ISD it's zoned for we opted not to.

I wouldn't build either.

Also, what do you want for it?