Saturday, March 10, 2007

Hopes, and Researching Sales Values

Hopefully, tomorrow we can drive to J's property he's hoping might be useful in doing a 1031 exchange so we can expedite a move outside the city limits.

According to him, first we need to figure out how much we might get for his existing lot in order to determine how much we'll be working with. There is a realtor who knows the vacant properties in a certain area, and she's sending us listings of ones we're guesstimating might be in our range....IF.

IF we can get what's necessary price-wise from the sale of our lot. The real estate demand here suffered greatly in the past year (I'm sure that's the case many other areas of the country, too) since the two prior bad hurricane seasons. I'm not sure they're selling at all right now, or anywhere near what we could have gotten had we tried to sell at that time.

But we're hopefully going to drive out there and see what's been built and sold since we were there a few months ago. It's a waterfront property, so at some point, it should sell. We're not sure if that time frame will be soon, or years down the road. But here's hoping it might be sooner than later.

We'll go do our legwork, and then see what opportunities might be available. Here's hoping! :)

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