Remember the "good deals" and the "flipping frenzy"?

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Real Estate Agent with Real Estate Firm of Orlando
Just a few short years ago, acreage could be found for $10,000-$15,000 per acre. Horse people seemed to be coming in by the thousands and constructing their dream ranchers.  However, within a couple of years, we watched the "boom" of 2004-2005 bring those prices closer to $50k per acre.  Now, here we are in late 2007 trying to use our most creative marketing to get $25k per acre....For example, I have a beautiful 10 acre parcel in Umatilla FL (approx 15 minutes from The Villages and bordering the Ocala National Forest) with a solid brick 1800 sqft home listed for $350K.  We've had several "lookers", but no offers.  At $25k per acre ($250,000 total), we're only valuing the house at $100k.  Sure, it needs a little "updating", but at this price, a savvy investor could buy it, put a few thousand into it, and hold for 2008-2009 "recovery" period and make a nice profit.  Does anyone know of an investor looking for this type of property? 

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