When I first saw this property listing, it didn’t seem to have much going for it. No photos on the property listing page. Far from major cities it didn’t appear to have any roads or a history of development. It looked as fresh as the new fallen snow, which is not a good thing when you drop half a mil on some land and can’t drive to it.
But then I took a closer look, not at the property but at the surroundings. Here is the next door neighbor on Zillow (link). It appears to have been sold for $3,384,500 in December 2012, and is just 8 acres smaller. That’s a pretty big vote of confidence on the quality of the life in the area, and the quality of the land.
As I looked at it in other tools like Google Earth and the county assessor’s map, I noticed that there were power lines running through the property. Not high-tension, but the good 240 volt kind. Seeing 10 or so surrounding houses indicates there is likely phone/cable/internet possible.
When I finally looked at Google Street View, it appeared that there is a paved road, government maintained, running through the property. As far as wish list, it’s starting to hit all the right notes.
Then make it about 2.5 hours from my home, and it’s pretty close to perfect.
It looks like selling this property has not been easy. It’s been on the market almost five years now, and the history of price reductions from Zillow looks fairly dramatic:
Of course, nothing comes easy. First, the price is close to $1400/acre and $500k is a lot of money for a property with no house. Also, the entire property appears to be mid to steep grade. With no existing infrastructure it might be expensive to build roads and all the necessary amenities. While it’s nice to have paved road access, it looks very narrow and might preclude the installation of a manufactured home.
The only red flag is the acreage discrepancy, with some listing it at 480 acres, while Zillow states 360. The assessor’s map looks closer to 480, so the Zillow number is probably just a mistake.