On a postcard.
What makes folks believe that they were just lucky enough to be one of the chosen few (or current residents) to receive the magical purchase options on beautiful yet undiscovered land that needs immediate liquidation?
And if they hurry to make their “priority appointment,” they can purchase waterfront estate property for less than the value of a used Honda Civic?
Ever wonder why the postcards often don’t mention the location?
Anyone notice that when the postcard urge comes to fruition and folks arrive to the magical meeting point (high school parking lot) near the magical property (part of a hastily developed area harvested of hardwood trees), the used Honda Civic prices are gone but the new Farrari prices are flying off the shelves?
Here’s a very simple word of advice from REALTORS with 30 years of lake experience in development and sales: If you can figure out where the postcard property is located, check REALTOR.com, or Zillow, or Trulia, or Google, or just call a REALTOR before you get enthralled. If you go to the land rush sale, go armed with market knowledge and know the prices of comparable property nearby in already successful communities.
With the exception of a few lost leader lots, every postcard sale we’ve seen has sold waterfront lots at or around market value. Interior lots, sadly, often sell for more than better lots in proven neighborhoods right next door. This is the most painful aspect of the process because interior buyers are usually stretching just to be a part of what they perceive to be a good investment. Hearing from these owners interested in selling afterwards makes for a hard and sad conversation.
It’s the frustration we’re left with after these conversations that compels us to warn you about the reality of these postcard sales.
Postcards that seems too good to be true, generally are. If you’ve received one that seems to be referring to Lake James or Lake Rhodhiss, give us a call. We’ll tell you the whole truth about the whole market.