Andrew Mooers, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY)

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Rainmaker
2,465,317
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

If a property is well-priced, the sellers are reasonable and I can properly represent the listing -- why not?   There are many different ways to market a property

Mar 18, 2017 03:49 AM
Rainmaker
548,057
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Leesburg, VA
Full Service Full Time Realtor

Manys builders around here buy old ramblers just to get lot. Figure around $20,000.00 for demo, and price accordingly. Many time outside photo is enough since they don't care what's inside.

Mar 18, 2017 03:49 AM
Rainmaker
538,758
Thomas J. Nelson, Realtor, CRS
Big Block Realty 858.232.8722 - La Jolla, CA
Co-Host of Mail-Right's: Real Estate Agent Podcast

YES! Funny you should ask, I just posted on it and offered 2 photos of the disaster that sold in multiple offers! SEE 10,000 Ways

Mar 18, 2017 07:08 AM
Rainmaker
2,110,897
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I have listed many of these type of bank owned homes and still are getting some now and again. I like to include the pictures as is s it shows the truth. I have a good list of contractors and builders i will call, get them all there and ask for their highest and best offer, most will tear down, some surprisingly opt to fix. 

Mar 18, 2017 05:13 AM
Rainmaker
581,917
Jennifer Mackay
Keller Williams Success Realty - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

We have quite a few of those properties here still

Mar 18, 2017 05:10 AM
Rainmaker
2,986,458
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Yes, sold 2 last year.

Mar 18, 2017 01:36 PM
Rainmaker
2,991,364
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Andrew,

I agree with Michael Jacobs 

Mar 18, 2017 12:04 PM
Rainmaker
2,254,661
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

Like Michael Jacobs comments ... I work with what I've got to work with. I have sold homes that were boarded up from a fire and homes that were not habitable in their current condition ... major foundation issues.  They sell. 

Mar 18, 2017 09:39 AM
Rainmaker
666,454
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Often just a couple of photos will do.

Some shacks are sold just need a for sale sign.

A residential lot (5-6K sf) fetches $300,000 and up. Better residential lots start at $1,000,000.  A $10,000-50,000 whack is the least concern by the developers.

Mar 18, 2017 08:23 AM
Rainmaker
401,940
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & personality!

I have one now (that was the basis of an earlier Q&A about "how low will you go" re: a list price).  I took it and am marketing it as an "adult fort" for lack of a better phrase...  A place you'd like to hang out at and escape but would hesistate to really call it home.  My pics focus on the nice garage.  ;)

Mar 18, 2017 06:51 AM
Rainmaker
1,192,992
Lyn Sims
RE/MAX Suburban - Northwest Suburbs of Chicago - Schaumburg, IL
Schaumburg IL Area Real Estate

What happened to using the word tear down? Who does a video for a tear down?

I would take the listing & not worry about what other people were thinking just as long as the owner got the price they expected. Problem is with fixer's is they draw in the nuts just like squirrels.

Mar 18, 2017 06:26 AM
Ambassador
933,022
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I have a duplex close to downtown where the lot is worth what the house is, which is quite a bit. Pictures don't matter, value does and what's with too weak in the stomach remark?

Mar 18, 2017 05:33 AM
Rainmaker
2,133,093
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Not in my niche!

Mar 18, 2017 05:20 AM
Rainmaker
1,132,934
Marc Swartz, CPA, CA, Real Estate Broker
Royal LePage Vision Realty, Brokerage, Direct: (416) 737-9800, Office: (416) 321-2228 - Toronto, ON
Toronto, Durham & York Regions, Ontario, Canada

In some parts of my area, people buy properties for the land value, demolish the old house and build new houses.  It depends on the specific area.

Mar 18, 2017 05:02 AM
Rainmaker
261,352
Jim Paulson
Progressive Realty (Boise Idaho) www.Progressive-Realty.info - Boise, ID
Owner,Broker

I believe in full disclosure so I show it as it is.  If it is a tear down, consider buying it and donating to the fire department as a test burn and a tax deducion!

I know of a developer that bought a lot in the foothills that everyone thought was almost unbuildable due to the massive rocks on it.  He got it at a great price, excavated the rocks for a waterfront subdivision he was doing instead of buying the rocks from someone else, then resold the lot for a huge profit!

I have never turned down a seller in need that wasn't rational about their price.  Even if it was a low end price, they still needed my help.

Mar 18, 2017 05:01 AM
Rainmaker
511,245
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

It is prudent for every action agent to call the number on those bandit signs and get the information. It is this list of buyers who are trolling for investment opportunities AND building lots.

I would privately submit such property to this list and bypass the "how much will a new roof cost' that comes with the tire kicking public.

The question itself suggests this tire kicker is in over their head.

Mar 18, 2017 04:57 AM
Rainer
30,241
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

I do many construction loans based on the lot value. Have your buyer purchase the lot and use it as the down money for a new build. I do 30-40 of these deals every year. 

 

Mar 20, 2017 03:41 PM
Rainmaker
3,351,565
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I have not

Mar 19, 2017 10:37 PM
Rainmaker
781,737
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I know of one or two of these in our MLS.  They are accurately described as such.  "Do not enter without a hard hat.  House severely damaged by fire"   or    "Value is land only, house is red tagged and should be demolished."

Mar 19, 2017 09:37 AM
Rainmaker
3,779,100
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Yes. The buyers can do as they please.

Mar 19, 2017 08:54 AM
Rainmaker
253,581
Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

Im listing one right now! All the buyers think it needs to much work but the structure is easily worth $150,000 and could be renovated and in tip-top shape for $100,000. All told, they could have a great place for $700,000 and valued at $1,000,000. But it's hard to find someone with the cash and vision.

Mar 19, 2017 07:36 AM
Rainmaker
1,185,669
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Allison James Estates & Homes & Realty One - Carlsbad, CA
Presence,Persistence & Perseverance

Years ago when we did lots of foreclosures there were many of these homes to move. We told the clear story rather than waste anyone's time

Mar 19, 2017 05:43 AM
Rainmaker
698,769
Troy Erickson
Diverse Solutions Realty www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Andrew - I believe that it more common in other areas, not necessarily where I conduct my business.

Mar 19, 2017 12:12 AM
Rainmaker
425,057
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
RE/MAX Valencia, Stevenson Ranch, Santa Clarita

I don't like taking unsaleable listings or those that will take way too long to sell.  Life's too short to be miserable.

Mar 18, 2017 11:28 PM
Ambassador
3,173,022
Praful Thakkar
Keller Williams Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Andrew Mooers - one thing we all know - there is a buyer for every home if there is a meeting of mind!

Mar 18, 2017 08:55 PM
Ambassador
2,907,568
Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I post a photo of the lot and house and make remarks that the value is in the lot.

Mar 18, 2017 05:58 PM
Rainmaker
2,883,972
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Kist it and work with what you have! It will work!!

Mar 18, 2017 05:11 PM
Ambassador
1,461,324
Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

put it on the market and someone will offer

Mar 18, 2017 03:25 PM
Rainmaker
516,171
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

In Sedona, we are getting to the "built out" stage. I have a 5 acre parcel with a double wide trailer on it.  I never even went inside. No pics of the outside other than an aerial of the property. The trailer is a haul away cost not a plus in my opinion.

Mar 18, 2017 02:07 PM
Ambassador
1,637,017
Fred Griffin
Frederick Griffin, Exclusive Buyer's Broker - Tallahassee, FL
Licensed Florida Real Estate Broker

      The only thing I would add to the video, is the cost of a demolition permit from the County, and an estimate from a contractor to tear it down and haul it away.

Mar 18, 2017 01:51 PM
Rainmaker
125,796
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

You sell it "as is" with the disclaimer that the value is in the lot. It is up to the buyer what they ultimately will do with the property, assuming they can get a loan on it - may be limited to cash buyer only.

Mar 18, 2017 11:46 AM
Ambassador
1,793,259
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Beauty is in the eye of the beholder - Dirt doesn't photo well to some but, to others who have a vision, it's pure gold!  It's about getting the word out and marketing the heck out of the property, regardless of the appearance!  

The last one of those that I had, I included an exterior shot and in the description, referred to rehab or wrecking ball - I got a great response and multiple Offers.  Good luck, Andrew Mooers!  

Mar 18, 2017 08:18 AM
Rainmaker
3,529,151
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

I would love to take a listing that's a teardown....and market it for what the lot is worth.... and that would depend on the price of the end product that could be built there in that area....

that's my kind of listing....I market to find those...

Mar 18, 2017 08:11 AM
Rainmaker
417,639
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise, Meridian, Ada/Canyon/Gem/Boise Counties

Barbara Torado just posted about a tear down listing the other day that her team has.-Kasey

Mar 18, 2017 07:51 AM
Rainmaker
2,070,974
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The Agents remarks & property description; this is where they earn their pay

Mar 18, 2017 07:40 AM
Ambassador
2,999,602
Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Never had a listing like that but have seen a few

Mar 18, 2017 07:14 AM
Ambassador
2,669,804
Bob Crane
Woodland Management Service - Stevens Point, WI
Forestland Experts! 715-204-9671

Not a wasteful person so I chose to fix things rather than fill landfills.

I have purchased many homes that others would have torn down, I fixed them and gave them a new life.

Mar 18, 2017 06:55 AM
Rainmaker
2,031,024
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Not something I normally deal with in my market!

Mar 18, 2017 06:45 AM
Rainmaker
3,484,548
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I believe in showing it all.  The good, bad and ugly.

Mar 18, 2017 05:51 AM
Rainmaker
1,693,301
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

I've never sold a property like this in 25 years.

Mar 18, 2017 05:48 AM