I got this email this morning. I had just had a converstion with my husband last night how it seems if something strange is in the air. People are acting odd, stressed etc. I was wondering if it is because of the time of year. Holidays are long past, the end of the school year is getting closer and things just don't seem normal.... then I get this.
Subject: Land
Hi
I live in NYC now & planing to move to FL. March 22 I
am planing to come to sauth FL to do land shoping. At
this point I want to get a low $/acre AG land with
investment prospect for future to subdevide (later). I
also like some lake/river/wetland in the acreage so
that I can do some fish farming. I also like tropical
fruit farming for particular ethnick group in a non
frost zone.
Can you please do a search with $200k( for cash
buying) & another up to $.5 M. You can send me some
link at this address. Let me look at them & will call
you soon.
Thanks
I might need a vacation.
posted by Sellrealest8 at 12:18 PM
3 Comments:
Hi I have been visiting your home page lately, and I really like this "blog" idea, almost like a livr chat...anyway, would you mind telling me with your real estate expertise, the pros and cons of two new developments I have been investing yet have not made my mind up on. A new phase of luxury homes in Keys Gate (Palm Isle Estates)with nice views (golf) or the various subdivisions in the Redland with bigger lots.
Greetings,
I put a response to your question, thank you for asking. Your blog is excellent and its funny how similar the market Miami is to Manhattan.
Grunt
I think investing in real estate in general is a good thing. Palm Isle will be a nice development. Just make sure they have larger lots than in Keys Landing. The Fairways have gone thru the roof in costs they are selling I mean listing at $575…not many have sold. The Shores where the lots are quite nice, the large 2 story is selling for $360 on the lake, where in December I was selling them for $325. There are going to be like 700 homes in the Shores. I can’t remember how many in the Palms. I think 300? They are going to build like a town center across from the Sales office were the bottom floor are shops and the top two floors are condos. The Chamber Group does not support this and are trying to stop it. I am on the fence. I live in the Redlands so it does not impact me as much. Now since I brought up the Redlands ANY THING ON LAND IS WORTH MORE THAN ANYTHING ELSE (same with water). Remember that. Land is a commodity. And we are running short of it. I sell Keys Gate and love the area. It has a great resort feel to it that no where else has. I also have several friends who live in Keys Gate. It works for them.
Homes on ½ acres or acres are few and far between making the economics course you took in High School come back…Supply and Demand. You are of course going to have people who do not want to “mow” or take care of land. And other who just want a vacation home on a small lot that the association takes care of. I hope I answered your questions…..just buy something. If you are planning on “flipping” it be sure you have about 6 months worth of cash to cover the mortgage should you have to sit on it. And then the backup plan would be to put a renter in it. Get great financing such as Quickens 0.03% mortgage where you pay like nothing for 6 months. Or get an interest only loan. Countrywide has “flex” saver loan and Elaine Lowy at WCI Mortgage has a program that is good as well she can be reached at 305-710-6642. But check on pre-payment penalty fees etc. Also there are taxes that will be due because you will have capital gains etc since it will not be your primary residence for 2 years. Should you decide to buy in Palm Isle build the Queen or the Alexander. These are two floor plans they have not built in the other developments. All the others they have.
OH one other point to mention. Don't walk in the Keys Gate Sales Office with your chest all puffed out saying your are a Real Estate Investor and want to buy a new construction home....they will escort you out.
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