
Can you imagine this view from your new waterfront home in St. Petersburg, Florida? You can watch dolphins and manatee playing in the water. You can watch cruise ships, cargo ships, and occasionally Tall Ships as they pass under the Skyway Bridge. You can build a dock for your boat or yacht; you can catch fish from your seawall.
Why aren't people seeing this? Because they're seeing the 3 bedroom 2 story house already on the property, and the detached garage, and the pool. They don't see the wonderful building site (nearly an acre, at 100 ft wide by 350 ft deep) in an area of estate homes. But - the 2,700 sq ft house really needs to be torn down. Because the house is there, we can't list is in the MLS as a lot - we have to list it at a house.
Yes, in the comments, of course we say that this is a "tear down" and is priced at only the lot value. Yes, when a prospect or an agent calls, we tell them that this is not a home for a remodel, it's really a tear down and only suitable for someone who wants to build a new house there.
More times than not, the prospect or agent will say, Yes, I know, I still want to see it. And every one has said, "Yes, you're right, it's a teardown. We really don't want to build, we want to renovate." It's a record that's stuck (for those of you who remember records).
Many prospective buyers just can't see beyond the house. Why can't they just see the lot? Well, what is, is.
We've suggested to the ssellers that they tear down the house, so that we can market it as a building site. We just got an estimate for the demolition: to remove the house, the garage and the pool, is only $11,500. Perhaps they will. That worked for a multimillion dollar property in Palm Beach - we think it will work here, too.
Waterfront home site in St. Petersburg, Florida with open water view - million dollar lot, multimillion dollar view.
16 Comments on Fanstastic waterfront homesite in St Petersburg Florida - what's missing?
I like the way you think and hopefully the right Buyer who really wants to capitalize on the site and create a home that is worthy of this marvelous view.
I fell in love with your photo, and as I started to read asked the question, why not just tear it down? The price seems reasonable, much less than what I would have expected. Hope to read a new post soon - advertising this piece as an awesome waterfront lot!
William - I'm sure the right buyer will find it.
Debbie - buyers generally think that tearing down a home costs much more money and takes much more time (two days and it's down and carted off).
Hi Sharon,
O.k. the obvious, did I miss the price? What would a water front lot like this go for? And yep, I remembere records, even 78's.
Hi, Lynda - the million dollar lot is priced at .... ta da .... $1,000,000.
We have our share of those little cottages that are being held together with spider webs just waiting for someone to back into them with a car and knock 'em over. :)
Sharon, I listed a home on Thursday for a mother of a gal that lives in St. Pete. She was in town helping her mom get her home spruced up. I told her if she ever needed help selling I knew a great agent in St. Pete !
Morning Sharon,
Like those before me, I love the photo!
Would it be in the best interest of your client to have the home, garage and pool removed? spending the $11,500 up front may well bring them a quicker sale. You didn't mention the asking price. It well enough in line with "Priced Right" concept that the removal cost could be added to the asking price?
Sharon,
Depending on the area...you have to look at the land if it's a valuable asset in that area...the home might be a tear down and not worth much but the land could be worth more than the actual structure.
Hi Sharon - Very strange that people can't see beyond the house. It sound like the wrong clientele has been viewing the property.
Sharon -fabulous site, and what a clever way to present the opportunity to buyers. It's not unlike how buyers can't see beyond the ugly decor, bad paint colors, etc. in a home. Seems like a pretty good price for waterfront, just for the lot.
Jeff
Chris - I guess that's why they're called also called Knockdowns or Kickdowns.
Missy - thanks for keeping me in mind and referring me!
Hal - I have been advocating levelling the buildings. The list price is $1,000,000. I wouldn't want to add the $11,500 to that as having it at the round million mark increases the potential buyers finding it - those who are searching up to $1 Million and those who are searching from $1 Million up.
Neal - that's exactly what I think - that the land is more valuable without the house than with it.
Bill - that's why I'd like to list it as a lot - which requires that the house be removed first.
Jeff - send me some of your California buyers who might want this great waterfront site.
Sharon, That photo is lovely. Wish you all the best in getting the lot sold. Keep us posted!
Tanya - thanks.
SHARON - People have a hard time seeing past bad decorations in a home, so most of them will not be able to look past an entire home. However, you are absolutely correct about selling it as land. If the owners won't tear it down, you might be better off putting only view photos on the listing and then write "teardown" home in the comments. The view is amazing, and I'm sure that someone could build a beautiful home on that lot.
Adam - I can do that on my website and in blogging, but unfortunately I can't do it in the MLS. The owners were considering tearing it down, but now are concerned that if they do, they'll lose out on the tax benefits from living there 2 out of the last 5 years.