Town of Sebastian is on the mainland approx. 8 miles from Sebastian Inlet and 6 miles from Wabasso Beach via Wabasso Road. At it's peak, my taxes were 1,200 per year but now they're only about 300, so that's a good thing. Builders in the area when I bought were charging around 250k to build, now it appears as though they're around 160k, and yes, even lots have decreased, so for 300 a year, I guess I'll just wait it out and hope for the best. In retrospect, it was probably a rash move on my part to buy it, but live and learn. It's just a matter of how long it will take to come back, but I've got time, and like I said, they're not making anymore land the last time I checked.
Man so many of us did that same thing. I bought a 4 acre lot near the high school, right next to the middle school in Berlin Md. Pure speculation now waiting for the market to recover so I can get my money back.
It looks like you will have to sit on it for a few more years until all of the foreclosed properties are of the inventory list. My place in Avon has lost 35% of what I paid if I were to sell it today. Hopefully the real estate tax your paying yearly isn't too burdensome. Johnxyz hit it on the head . Look at zillow to see where your at .
Not likely the next Greece by a long shot, in fact, things are coming back, in fact in 2005 I thought land was a safer bet than the market, but the market has come back for me and then some, so it's all good. As bad as anything may seem, it could be a whole LOT worse, so maybe it's not so bad afterall. I know I'm better off now than I was 4 years ago, and I think the country is too, the wars we started in the last decade are finally winding down, and that alone is cause for hope.
The economy has come back slightly. God forbid if Israel bombs Iran gas will spike to $8.00 per gallon and our economy will collapse with the stock market leading the way. Arm yourselves it is a matter of time.....be ready for total chaos. Anyone comes near my shet forgetaboutit. You sound like a Obama supporter
eh i can't stand obama. i don't like gwb or the republican clowns right now running[i don't consider paul a republican]
obama is bush's 3rd term and has continued his foreign policy, and economic policy like devaluation of our dollar, bailouts, etc. not to mentio obama signing ndaa which is patriot act part 2. when bush signed the patriot act people were irate, and they rightly should have. this guy goes ahead with some even more controversial and it's looked away. if you really think obama is a great president i feel sorry for you. at the same time if you want more of the same, but don't want obama vote for newt or mitt.
i don't wanna tak off topic, but things aren't getting better. the numbers are screwed in favor of obama about things getting better.
on topic if i were older, and ready to retire i wouldn't mind negotiating with you on that property. 4 years ago i almost moved to florida so who knows maybe you were too late. i was gonna be up in jacksonville though things went to hell with the girl i was with at the time who lived there, and the year before i was just about ready to leave for ormond beach, but didn't. someone handy who can do a lot of work to build a house themselves would give you the most for it. that or a desperate contractor who can make loads of profit on it.
Last edited by eatswell; Feb 13, 2012 at 08:16 PM.
Loads of profit building a house on that lot??? Those days are over pal. You must still be in a time warp. There is no more profits building homes. Our ocmd surfer is gonna have to sit on it for many years to come. Take $20,000 cash and right off the loss on your tax return. Otherwise I am taking the money and buying a fishing boat
the housing market hasn't been good in the florida for years. not even the market, but just a boom in building, so when i said that it was a LONG SHOT.
up in north jersey a lot of that was going on, and it's still going on surprisingly. they aren't buying up whole blocks knocking the houses down, and building two duplexes anymore like they were 5-10 years ago, but i know a few who are. the ones who were lucky, and ran their business, and money wisely. of course this has nothing to do with florida.
when i say profit i mean buying a house for $330k grand[which is a steal in north jersey] knocking it down, building a duplex, each half goes for $600k so they make a profit. i don't think they've had a lot of success for those in florida.
like i said years ago whole blocks were being built up. they would run to peoples doors offering 20% more of what the house was worth sometimes even 30% to buy it, knock it down, and build a duplex there. it's still going on to a much lesser extent. this is something you won't find in florida though.