Many people interested in buying or selling recreation or investment property need help addressing the unique issues that are relevant to those sales. Buyers and sellers benefit from clearly identifying potential investment opportunities and potential problems on properties as well as understanding the best timing and marketing of sales.
Recreation and Hunting Properties
The best time to buy recreation and hunting properties is during the off season. In late spring and early summer, hunting season is closed and owners have not yet started to prepare for the coming hunting season. Some good property sales occur in the early fall, as well.
Investment properties are a little trickier, especially if the investment is timber. The best time to buy these properties is when timber prices are low. At that point you’ll want to hold the property until timber prices rise and then harvest the timber. After harvest, replant and either sell the property or hold it for future harvests or selling.
Marketing Your Property
When it comes to marketing your investment property to sell, the major tasks that will benefit you include getting a current land survey, getting an estimated timber cruise, improving roads and trails, and doing any prescribed burns for pine timber.
Sellers often wonder whether it is best to sell their property as a whole or in parts. It is typically best to keep your property whole rather than dividing it up. Some exceptions to this rule include when the owner is planning to hold some of the property or if the owner wants to discover what interest there is in the property. Occasionally, landowners may choose to split the property and sell it in pieces for tax benefits.
This post was written by Three Sixty REALTOR® Brandon Fowler as the first of a series of blogs on this topic. Brandon will elaborate further in future posts and answer questions about what affects sales prices and how to identify investment opportunities and potential problems when buying/selling property.
Brandon Fowler grew up on a farm in rural Mississippi, where he learned to love the outdoors. This connection to land influenced his hobbies as well as his career choices. He has a background in landscape architecture and spent years in the private sector before seeking a career that better suited his passions. His favorite aspect of real estate is helping clients buy and sell land, especially recreation or investment property. Brandon’s unique expertise makes him an excellent resource for anyone buying or selling property. If you are interested in these types of land, stay tuned for Brandon’s entire blog series!