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Tbd E C 478
Webster, FL 33597
Connie Mahan with CONNIE MAHAN REAL ESTATE GROUP, original listing - (352) 569-0233
$15,000,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
--
Property Description
We feel this is an appropriate time for a Field of Dreams movie quote “If you build it, he will come.” We would like to suggest it read, “they” will come, because we feel they would. There is no question development is all around us in Sumter county. Growth and change is hard in a rural community but Florida is at an all time high demand for housing, especially in central Florida. This particular parcel offers easy commute to Tampa or Orlando within an hour, The Villages community within 25 minutes, and everything else that the heart of central Florida gets to brag about. Wesley Chapel, Zephyrhills, Dade City, Groveland, Mascotte, Lakeland, etc are all busting at the seams and putting pressure our way. Here we have 300 acres (302 to be exact) that is prime for development. Close to existing city limits. Already included in the joint planning area of Webster. With access to city water and city sewer across the street which is a huge benefit for a property this size and not easy to come by. It’s gorgeous, flat, dotted with towering oak trees, paved road access, and for what it’s worth it has a beautiful spring fed pond. Imagine a 5 or 10 acre ranchette community or maybe a deed restricted community with 4 units per acre. A higher density is not out of the question but that would require much deeper conversations with the planning and zoning department for the city. Any zoning changes would require city of Webster annexation and a land use change. Comparable sales for properties in the south end of the county come close to the asking price and those were without the benefit of access to city services. The seller is open to offers but like they say, price goes with vision and the seller has a big vision. Site visits by appointment only. There is currently livestock on site, please do not open any gates. Pictures, drone footage, and renderings coming soon. Call today.
Property Information
Lot Size
302 acre(s) square ft
Property Type
Land-Other
Year Built
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MLS Number
--
Location
Address
Tbd E C 478
City
WEBSTER
State
FL
Zip Code
33597
County
SUMTER (COUNTY)
Listing
Name
Phone
(352) 569-0233
Office Name
Office Phone
(352) 569-0233
Agent Name
Connie Mahan
Agency Phone
(352) 569-0233

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.