3 Darn Good Reasons to Sell Your Unrestricted Property

Have you ever heard of the

"Law of Diminishing Returns"???

When you own unrestricted property in the Greater Houston area,

sooner or later you must ask yourself if it is time to sell. 

THINGS CHANGE

Your life changes and your needs change with it.

Your community changes and it no longer feels like home.

When you see that it may be time to cash in the value of your unrestricted property, it may not be an easy decision.  After all, you may have inherited this property from family.  You may have raised your children on this land and it holds many memories for you. 

A move is never easy...but when it involves something as personal as your private estate in an unrestricted area of Houston...it may be even tougher.  The number of good reasons to sell are as endless as the number of people who are blessed with living in a place defined by them and their family - the UNRESTRICTED tracts. 

Below you will see 3 of the
most common reasons to sell:

• 
  
  The area is too Busy - Crowded - different than when you bought your property.  With the growth in and around Houston, things are changing rapidly.  However, one thing you can count on is the increase of traffic.  Many people who enjoyed the peace and quiet of a country lifestyle near their work are now spending twice the time making the commute and it begs the question about whether it is worth it anymore.  People are moving from the City of Houston into the outlying areas in large numbers.  In fact, these Ruralpolitans are creating many cottage industries providing fresh herbs, cheese, home-baked goods, etc at Farmer's Markets all over the area.
  
  
  
• 
  
  The Land is Worth More than the improvements.  If you have a piece of property that is worth more than the house and other improvements, you may be "throwing away" every dollar you invest in the tract.  It seems unfair that the fact you now own an extremely valuable piece of real estate may be the reason why you really MUST consider selling.  If you put a new roof on an old house located on a property located on a road with high traffic - it could be that every cent you spent would be better invested in a vacation or charity because it will never be recouped in the real estate market.
  
  
  
• 
  
  You have the desire to re-create the Laid-Back Lifestyle you used to enjoy.  People who own unrestricted property are a unique lot.  More often than not, they would abhor the experience of living in a nice, deed-restricted community.  The idea of having neighbors that are very, very close is offensive enough.  But when you add the fact that they use architectural control committees to dominate your decisions about what you do with your property - these hearty, independant souls will run the other way quickly.  These people want to do what they want on the property they have paid for - even if they have to drive some distance to have that lifestyle.
  
  
  

If you are considering your choices about the unrestricted property you own, remember that our team specializes in this specific type of real estate.  We can help you determine the HIGHEST and Best use for the property AND whether remaining owner is the HIGHEST and Best use of your assets.  You may have many more attractive options and we can help you explore them.  There is no obligation - just a conversation.

Get the Maximum $$$ by Deciding on Highest and Best Use

You cannot have great results in your garden until you decide what you want to plant. AND, likewise - You can't sell unrestricted property at the highest and best price and terms unless you first determine the highest and best use of the property.

This analogy may sound a bit facetious when it comes to marketing and pricing real estate - but I believe it rings quite true. Let me see if I can give you a few examples that may drive my point.

There is a piece of real estate currently on the market that I would love to get the opportunity to sell. It is listed by another agent so I cannot share specific information about this property. But it could be a dozen other properties that suffer from the same predicament. This listing has been on the market for more than a year - with two listing agents doing what they feel is right to sell the property.

Location is excellent because it is less than a mile from a highly restricted and highly desired community. It does not have frontage on a major road, but for the appropriate buyer that would be an advantage. It has more than 15 acres of unrestricted land with 5 acres of it a tranquil, scenic pond. The home was built more than 3 decades ago, so many prospective buyers would eventually pull down the house because it does not serve their purpose. The 6 rental units (mostly mobile homes) are very limited in value to most prospective buyers.

OK - I might get myself into trouble here, but I am going to say it...
These listing agents have done it all WRONG!

The way this listing has been presented to the market is only slightly different than it would be marketed if it were in a remote location, poor neighborhood with bad access issues. The descriptions describe the residential and current cash flow benefits of the property. Yet the price is far above the range that would justify purely residential use. The method they are using is like planting green bean seeds and hoping that someone will pay them the price of endive.

I remember 14 years ago when I was learning commercial real estate around the conference table with some of Montgomery County's greatest commercial agents. One of the basic principles that was repeated over and over again is that you cannot establish a price or a marketing strategy until you have determined the "highest and best use" of the property.

I invite you to share your opinions about what the highest and best use would be for this property. I am thinking corporate training center, spiritual retreat, holistic healing community. The most likely buyer will be someone that wants the peaceful surroundings, yet places a high value on the fact that it is very near the face paced lifestyle of the nearby community.

What do you think?

BTW: If you might need a property like this, I can represent you as a buyer. If you own an unrestricted property in the Greater Houston area, contact me for a comprehensive Highest and Best Use Analysis.