Vacant land to build my forever home for my family

[Derrick O.]

I found a piece of property to build a house on for me and my family 5.44 acres . It is listed for $44,440 $8,100 and acre. Would $32,440 be a good asking price ? Prices in town are that for .25 - .50 acre $29,500 - $40,000 ........ but here is the kicker It was listed in 2010 for 25,770 for 6 months and went off the market Agin I 2011 for 5 mounts at 25,770 $5,000 an acre Now in 2018 on the market for $44,440 $8,100 acre are these people fishing , or has the property gone up in value the property is north of Nashville close the the Tn Ky line bethpage Tn 37022

[Amy G.]

First off, look at the comps in the area for parcels around 3-5 acres in a similar location. Is there anything negative about this lot?  Farther away from town, no city water/utilities, flood plain, RR, eye sores? All of those things can lower the price a lot. After looking at comps and also looking at any negative or positive aspects, what is this property worth TO YOU???

Offer what a property is worth (or less). If the property has been sitting for a couple of months (or years) do not even worry what the "price tag" is. Someone can be asking $900,000 for a property but if it has been on the market for a bit and I think it is only worth $650,000 I would probably offer $600k and go from there. 

Since this is property you will personally use, the lines are a bit blurred because then it is not 100% investment.