Love Letters. Real Estate

[CoryB]

I got an offer letter just today. $26K for 41 acres.



Yeah, right.

 

[NorTracNY]

I got an offer letter just today. $26K for 41 acres.



Yeah, right.

OK, I'll give you $30K. I'm guessing that's your magic number.

 

[quicksandfarmer]

Ya, I wonder why they waste the stamps.

It must work often enough to be worth it.

 

[Jstpssng]

OK, I'll give you $30K. I'm guessing that's your magic number.

That was my first thought also, but I will offer him $32,000.

 

[check]

I had a waterfront renovated cottage that I bought as a repo.
Person got my number and started calling me every 1 1/2 weeks asking if I wanted to sell. I didn't.
I finally put a ridiculous price on it. They accepted.
Simple sale, lawyers only. No realtor.
Once the deal was signed including price, pending a building inspection, they asked me to reduce the price because
the inspector found some stuff. Their inspector spoke french. They assumed I didn't.
They lied their ass off about what the inspector told them.
Once I repeated what the inspector actually said, they shut up and paid for the house.
I did well on it compared to the repo price I paid. In only 5 yrs I made slightly more than double what I paid.

My elderly mother had a letter dropped in her mail from someone wanting to buy her house. She wasn't even thinking of selling at the time.
A couple months later she decided to sell to downsize.
Hours after it went on the market the person who left the letter was there looking at it. He ended up buying it at asking price with plans to gut
the inside redo. (wasn't necc, but I guess he had lots of money to play with).

We have been having a booming market in Canada. Bidding wars over house purchases. Most are getting 25% or more above market asking price.

Here in cottage country, prices have doubled. I wonder why?

 

[check]

OK, I'll give you $30K. I'm guessing that's your magic number.

$35k!

 

[Whidbey]

OK, I'll give you $30K. I'm guessing that's your magic number.

You beat me to it, you rascal!

 

[NorTracNY]

$35k!

I'm out...

 

[Pixguy]

$40k but you have to give me an answer within 60 seconds!

 

[Sigarms]

As long as the 40 acres is accessible and doesn't look like crap, 200k in my mind would be a somewhat reasonable offer.

That said, looking locally before I made this comment, the better pricing for larger tracts (30 to 50 acres) of land in my area are easily 6k an acre.

My wife actually asked me the other day if I would consider selling off my "shooting range" of 20 acres. Realistically I could get by on our side of the creek with 18, but the reality is I could still shoot on that 18 side and hunt as well. This was brought up because my MIL is actually thinking about selling her house to move closer to us, and from what her realtor told her, she could do pretty well, and she was actually asking if we had land we wanted to sell.

I hate to say this, but at this point in time, if (which I don't think could happen) if we could get 200k for 20 acres, I'd actually be inclined to sell. However, I think the house and land would sell better with the full 38 and change.