How Much Are 5 Acre Tracts In Your Area?
I am doing a survey. People are starting to buy them like crazy in this area. They are coming up here from Tampa etc.
I know it varies, and lately it changes from week to week with the FL land grab going on, but generally, if you have seen some sales in your area, I would be curious to know.
I'll start,
Sumter County FL: from $45,000 to $50,000 per 5 acres
Lake County FL: from $65,000 to $80,000 per 5 acres
Now these are not mobile home areas or commecial property areas either but are conventional home areas usually zoned agriculture. I do not own any right now but am wondering about the market for them around the Country and of course, the State of FL.
Thanks for your input,
Ricker
Ricker,
How about $100K to 200K in N. California. Here they are usually used for single family home subdivisions and mostly in unincorporated areas but within driving distance of major cities. I.e, where I live about 30 miles from Sacramento, there are many 5 acre high end subdivisions. Usually they are have 2K-3K sq ft. and can be quite popular for people who want to own animals (horses in particular).
HTH,
Robert
Ricker,
This is the type of REI that I do. Here in middle GA prices vary depending on location; 30k on the low end up to 75k closer in to Atlanta.
I am closing a 6 acre tract pn Fri. for 45k. This property is on a dirt road ten miles from the interstate and 50 miles from downtown Atlanta.
Holy cow! You guys have talked me into it. I can get 90 acres near a great area and shopping and golf just 2 miles away for 7,500 an acre. I think I can sell 5 acre tracts for $80,000 and double my money in no time.
Martin County FL is up to 15 k an acre for 5 acre agricultural zoned.
Outlying Orlando areas are doing even better at a rate of 21% increase each year for the past 2 years for lake front residential and rural, mainly between Daytona Beach and Orlando (Volusia County).
If you cant afford to lead the pack, then follow the developers. Anywhere they are going to build condos or a newer subdivision, the prices are guaranteed to go up in value because of the new sales of homes. Try to buy in the same month they start presales, to get the best benefit. Or if you dont have the staying power, put it under contract for 60 days and purchase at the tail end.
Good Luck,
Kyle
Hey there Ricker,
I'm gonna keep my promise to come up and have that cup of coffe and buy my small spread up there.
In my cozy little horse community here in Broward County 5 acres just sold for a "reduced" price of a cool 1 million.
Withe these prices the wife and I decided to say goodbye to our green pastures and move back into a real neighbourhood with schoolbusses, career-aspiring commuters and the sound of splashing swimmingpools and leave our green meadows in the hands of a succesful 2nd generation American, who will build his sprawling Mediterranean dreampalace on the spot where my Yorkies chased squirrels.
So let's keep buying the land...the way things are going the Chinese will be buying ten years from now LOL!
Keep well.
[addsig]
5 acre parcels in my area run about 1.5M.
Mike
In my area...
per building lot, not per 5AC: $250K-500K
Ricker,
Do you have enough existing road frontage to net all 5 acre lots? If not what are you going to do with the back land?
[ Edited by pspiers on Date 05/20/2004 ]
I am not sure I understand your question but I am planning on putting a road into the center of the propery to access all tracts.
In my area it is difficult to make the numbers work if you have to build roads for five acre lots. You need alot more density to justify the cost. Of course I would be hard pressed to get 80k for a five acre lot[ Edited by pspiers on Date 05/20/2004 ]
Quote:
On 2004-05-20 21:24, Ricker wrote:
I am not sure I understand your question but I am planning on putting a road into the center of the propery to access all tracts.
Have you checked zoning and for wetlands? Or made sure some sort of protected wildlife does not live there. Here in Martin County they are a real PITA about wetlands.
Quote:
On 2004-05-22 19:28, LoneGunman wrote:
Have you checked zoning and for wetlands? Or made sure some sort of protected wildlife does not live there. Here in Martin County they are a real PITA about wetlands.
Funny you should mention Martin County. Talked to a guy today whose company sold out of their 5 acre tracts in 17 minutes. His company is called FL Land Partners. Heard of it? Very interesting conversation with him today.