Three Tips to Help Get Your Madeline Island Vacant Land Parcel Sold
We receive phone calls from owners of vacant land parcels on a regular basis. This season, I'd say that vacant vacant land inquiries from owners wishing to sell are at the top of the list.
If you follow this blog, you've noticed that we write about real estate market conditions each month. The market for existing homes in the 54850 zip code has been brisk over the past nine months. By contrast, the market for vacant land appears to be stagnant.
When lots and land aren't selling, you have to get creative if you hope to succeed at selling your own parcel. There's a solution out there somewhere, but I see very few would-be sellers doing anything differently.
For starters, here are three crucial tips that may make a big difference in getting your lot sold:
1) If your parcel doesn't have a street address, get one NOW. Apply for a "Fire Number" from the Town of LaPointe, which will become your street address. Without that number, your real estate agent is forced to market your lot as "tax parcel ID number 014-xxxx-xxx-xx". Marketing your parcel by street address is vitally important, particularly on the Internet. Make it easy for buyers to find your vacant land listing on the Web!
2) Consider clearing a path from the roadway into your lot. A gravel driveway would be best, even if it only runs maybe 50 to 75 feet into the property. This is a major curb appeal issue. A roadway or path into your lot creates a welcoming gateway to the property, beckoning potential buyers to enter and take a look. Make it easy for buyers to come look at your parcel or you'll never sell it!
3) Clear a small area on the lot that could become a future building site. You don't need to go crazy cutting down trees or pulling stumps. You'll probably need something more powerful and professional than a string trimmer for this job (it would be best to hire a landscaping pro to do the clearing) but you don't have to spend a ton of money either. A clearing gives the prospect the ability to stand on your lot and say "this is where I can build my dream cabin". If you have a waterfront lot, clear a small path or walkway to the bank, overlooking the water. A waterfront buyer has to see your Lake Superior view if you expect them to write an offer! Make it easy for prospects to fall in love with your lot!
You can implement the above ideas affordably and you'll get results. You don't have to spend tens of thousands of dollars to make these improvements to your property.
When the snow finally melts on Madeline Island, just as trees begin to bud and things start to green up, that's a perfect time to visit your lot or parcel and assess what needs to be done. Ask yourself what induced you to buy your property in the first place, and what would make a buyer want to do the same thing. And then get to work on making your property more appealing and attractive to this summer's potential buyers.
Email MadelineIsland@Gmail.com or call 612.670.2539 to schedule a free, no-obligation consultation about what you can do to make your vacant property more saleable and marketable. We'll come out to your lot with you, walk the property and make specific suggestions about what to do and how best to do it.
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