Vacant lots for sale on St. George Island
The sleeper deals on St. George Island right now are vacant lots.
Well, for one thing, the list prices are at a 4-5 year low, and asking prices are still soft in many cases. Cash is king, because financing lots right now is a little more difficult than financing homes - banks are asking for larger downpayments on lots, which cuts lots of people out who would normally gravitate to them as investments.
Lots can be tucked away in a portfolio of investments - you owe taxes on them each year, and that's it - and at our current 7 mils, that is not bad at all.
Inventory? Yes, we have inventory. Currently there are 119 lots for sale to choose from on St. George Island, priced from $115,000 to $1,600,000. They are located all over the island, from beach front to bay front, and everywhere in between.
I just put one on the market for one of my customers that I believe is one of the best values on the island. It's a nice high and dry piece of St. George Island, measuring 110'x150' which is 1/3rd acre. It has gorgeous mature pines on it, as well as fragrant rosemary, native grasses, scrub oaks, and palmettos. You can see the bay from the front of the lot, standing at street level. The beach is just a 5 minute walk away, and even zippier by golf cart.
Email me or call me if you are interested in exploring this target-rich environment for investing.
And you can always have in the back of your mind that *you* might build a house there one day, and be able to have your very own place on St. George Island....