?Vacant Land

[Katherine O.]

Is this a Deal? I found a property on the MLS for $96K. It's in an area where homes typically go for $1.1M. It's 0.3 acres with gentle slope. It's in a pricey subdivision (golf, club house, etc...). Depending on the amenities you could pay $4000 to $10,000 a year in home owner fees. My concern is that other lots near this one recently sold for $60K to $75K, but the real estate agent keeps telling me this is a deal because a developer would like to have a low lot price compared to home sales. I'm just not sure. What do you think?

[Katherine O.]

@Joel Owens

You are right. It was a case of letting the real estate agent talk me into the next bright shinny object. The numbers didn't make sense from the beginning, and I should have walked away earlier. But, at least I have BP to set me straight when I get distracted.