Help me decide to do with some land

[RollingsFarms]

I won't clean out the trailer, it's way too risky to my health. It has everything from rat feces, mold, the plumbing pipes busted in it, the air quality is VERY poor inside the trailer. I had two men say they wanted the trailer and would clean it out. They worked on it a day and haven't seen them since. As for the house, it's all cleared out. The problem, with it is it's from about the 30's and it's riddled with termites. I have a friend who builds houses for a living and his advice was to tear it down or spend $30,000 fixing it and that was just a very rough estimate from a quick walkthrough. I even offered to give the house to several people to just burn for wood as long as they tore it down and hauled it off.

 

[yelbike]

OK, spend 30 to fix it than what's your return on investment? This is where a good Realtor can help.

Another option is the fire department. Would they be interested in either using it for training or "babysit" the a the fire? I've heard of people asking but I've never seen it done.

 

[RollingsFarms]

OK, spend 30 to fix it than what's your return on investment? This is where a good Realtor can help.

Another option is the fire department. Would they be interested in either using it for training or "babysit" the a the fire? I've heard of people asking but I've never seen it done.

I've already contacted the fire department and they won't touch it because it's too close to the road and too close to neighbors on both sides. They said if it were in a field out in the country they'd be happy to. Sinking money into the house wouldn't be smart for several reasons. The $30k was a very rough estimate(probably double that by the time all is said and done), the house is laid out badly and the rooms are so small that it would be a very hard sell at the price I'd need to get it at, the house is WAY to close to the road as all the other houses on this street sit back aways from the road. Back when this house was built there was no highway in front of it like it is now.

 

[RollingsFarms]

One question I forgot to ask. The tax assessor has the land valued at $12000. How far off that figure do you think I'd need to be to be realistic in selling it? This isn't exactly prime real estate but it is in town and comes with some features and is the only lot that can be built on that's on this road. Would asking $10,000 be too far off?

 

[yelbike]

One question I forgot to ask. The tax assessor has the land valued at $12000. How far off that figure do you think I'd need to be to be realistic in selling it? This isn't exactly prime real estate but it is in town and comes with some features and is the only lot that can be built on that's on this road. Would asking $10,000 be too far off?

Around here, tax assessments are typically low. So if assessed at $12000 you realistically expect $15000. Areas differ. This is where an agent can help you out. I probably sound like a broken record recommending an agent but trust me they have their place.
This comes from a guy who's father was an agent for 17 years, I sold my last house comfree. I see both sides of the coin. Straight forward real estate transactions don't necessarily need an agent but so situation do, I think yours does. That's only MY opinion though.

 

[bucktaker]

If the conditions are too bad for your health why not hire day labor ( you onsite to supervise) to empty the trailer and dismantle it? might even break even with scrap prices. Removing eyesores will increase the likelyhood of a quick sale.

 

[Country Geek]

Junk trailers can be a tough problem to get rid of, sort of like CRT TVs... a few years ago there was a problem with people dumping trailers on the roadsides, though that seems have stopped more recently.

 

[RollingsFarms]

If the conditions are too bad for your health why not hire day labor ( you onsite to supervise) to empty the trailer and dismantle it? might even break even with scrap prices. Removing eyesores will increase the likelyhood of a quick sale.

Thought I had that all taken care of when I gave it to two men who asked if they could have it. I told them sure as long as you clean it out and haul off everything. They worked for a day and haven't seen or heard from them since. Guess I'll just have to hire someone.

 

[tractorshopper]

Tax assessor in our area (Oconee County) only updates every 5 years or when a property is sold. Ours are way high currently. Bought a property 6 years ago at the peak of the bubble in 2009. Tax assessment in 2010 bumped it's value up another 10k which is my current tax basis. Recently refinanced the balance I owe on it and mandatory appraisal came in barely over half the current tax assessed amount (51.2% to be exact).

Talked to assessor about it and he said they don't change them except as listed above or if I had an appraisal from 2010 when they last did their assessment they would take that. (they will only take an appraisal from the same calendar year they do their assessments)

Now it's 2015 and the county's next re-assessment year; you better believe I'm having an appraisal done this calendar year to be able to challenge whatever the county comes up with this time in case they don't revise my base to where it's current true market value really is. Had I been able to update it last year when the appraisal was done, the difference in the tax would have paid for the appraisal and put another $200 in my pocket, just the one year alone.

 

[Country Geek]

There are some counties around here that appraise on an 8 year cycle, which is the longest cycle my state allows. Or they can be like mine, and change the cycle to whatever the commissioners at the time believe to be politically expedient. The real estate crash has definitely made it more interesting to set the cycles.