Land can be a valuable asset for an investment portfolio yet is one of the most underutilized investment vehicles. The competition for bargains in raw land sales is not nearly so fierce as in the Fort Myers housing market, and these bargains are waiting for you!
While investors can flip land, typically, investors in the land have the financial ability to hold the land for a great deal of time. Raw land can be a low maintenance investment that can generate long-term passive income to allow for the retirement of your dreams when done right. It is also possible to increase your current cash flow through creative uses of raw land. By educating yourself on land, its uses, and how values are determined, you can feel confident in the decisions you make about such a significant investment.
History has proven that land value in Fort Myers is exceptionally stable and increases over time. Whether you have decided to buy or sell land, the next step is to determine the value of the land, if you are a buyer seeking property, you certainly do not want to learn later that you overpaid, and if you are selling, you do not want to take a loss on the sale. So how do you determine the value of your land in Fort Myers?
Recent Sales
By looking at recent sales of similar properties closest to your desired plot, you can gain valuable insight into the going rate for land in that specific area. This provides a starting point for negotiations and helps you determine if the asking price for your land is within a reasonable range. However, it’s important to remember that not all land parcels are created equal, even within a close proximity. The value of your land in Fort Myers can be significantly impacted by various factors beyond just the general area. The most influential factor is likely the precise location of the property itself. For example, a piece of land with direct access to a main road or overlooking a scenic view will naturally command a higher price than a plot nestled away from amenities or with limited accessibility. Considering these additional factors alongside comparable sales will give you a more comprehensive understanding of your land’s potential value.
Potential for the Land
Raw land can hold the potential for many uses. However, investors should factor the highest and best use of the land into the investment. The value of your land in Fort Myers will increase by utilizing the property to its full potential. Wise investors seek out parcels with potential at bargain prices to realize the most return on their investment.
Appraised vs. Assessed Value
Appraisal values of real estate can vary depending upon determining factors in the local market. However, the assessed value of your land in Fort Myers is highly stable and is the amount upon which you pay property taxes. While these values can vary greatly, a lower assessed value does not necessarily mean a lower appraisal value.
Demand
Investors must do careful analysis to determine land value in Fort Myers. This analysis should include a deep dive into understanding demand. Generally, land closer to the city center tends to be more densely populated. This density translates to a smaller amount of raw land being available, which in turn drives up demand and price. Conversely, land on the outskirts of the city might be cheaper because it’s currently in lower demand. However, a savvy investor with knowledge of Fort Myers‘s market trends and future growth plans can potentially find bargains in these areas. By understanding the city’s development trajectory, an investor can anticipate where future population growth and urban expansion will occur. This foresight allows them to purchase land at a lower price point now, knowing its value will appreciate significantly as the city grows and demand for that land inevitably increases.
Buying?
Are you ready to unlock the potential of the booming Fort Myers market? Core Real Estate Properties boasts an incredible land inventory, offering a diverse range of properties perfectly positioned for your next big investment. Whether you’re a seasoned developer or just starting out, our vast selection caters to a variety of needs and budgets. Imagine owning a piece of prime real estate in Fort Myers, a city on the rise with exciting possibilities. With Core Real Estate Properties‘s land inventory, that dream can become a reality.
Don’t let the process of finding the perfect parcel hold you back. Our team of experts at Core Real Estate Properties is here to guide you every step of the way. They can help you develop a comprehensive investment plan that takes into account your goals and risk tolerance. Even if you already have a vision in mind, their knowledge of the Fort Myers market can be invaluable in securing the ideal property to turn your plans into a success story. Partner with Core Real Estate Properties and unlock the true potential of your next investment.
Selling?
Whatever your reason for selling your land, Core Real Estate Properties will help you sell at the right price! Working with Core Real Estate Properties makes it easy to determine the actual value of the land. Core Real Estate Properties has investors looking for land like yours! Call Core Real Estate Properties at 239-360-3176 or send us a message today!