When the market was going really hot potatoes down here Nestor decided to move into Commercial Real Estate with land development. We transferred over from years of Residential experience into finding land for the major players in this area like Centex homes, Lennar Homes and Pulte Homes.
Nestor would search out the land use and zoning spots where these developers would want to build new single family home and townhouse developments. We then would go to each of the landowners, some of them would have houses and some did not. The houses of course would be torn down. Usually it was a group of 3 to 5 landowners that we would need to all get on the same page. Once we got them all to understand the terms we would then meet with the land acquisition managers of each of the major developers to see who would be interested in purchasing the property. One of the areas that we do not negotiate on is our fee. The builders happily paid our fee because of the intense involvement Nestor undertook in the planning stages. They are always impressed with his thoroughness and attention to detail. I am not just saying this because he is my husband either! We also double ended this entire project.
The very first deal that we put together was a group of 3 landowners that owned a total of 15 acres together. The City of Greenacres in Palm Beach County Florida was very aggressive in annexing in the County parcels to increase their tax base. They were what we considered to be a 'friendly government'. This means that getting a project through of 200 townhomes would be very easy to do.
Now in many parts of our nation 15 acres does not sound like a lot of land and certainly would not fetch the prices we can fetch here in South Florida. Buildable land is scarce down here especially with being so close to the Florida Everglades.
This land deal got us into the door in this niche. But when the gold rush was coming to a halt Nestor could feel it. He came to me and said that no matter how much we enjoyed this part of the business that the builders were going to stop buying land because the prices had skyrocketed to the point where the cost per door would no longer be profitable. Nestor saw and felt the end coming and decided we needed to jump back into our expired market niche in the residential arena once again.
Here is the project we put together for Pulte homes. It is called Pinewood Lakes in Greenacres Florida. Here are some photos of what these 15 acres with 3 homes turned into:
But boy, I gotta tell you, that gold rush was mighty fine living and fun! We did some great and exciting projects with developers and builders. Of course, one of the great laws of the universe is that what goes up must come down, eventually!
If you are a buyer looking to buy a resale you can buy one in here for under $200,000 now in this peaceful hideaway very close to Jog and Forest Hill Blvd, call our office and our buyer's agent will be happy to help you find the perfect townhome for you and your family. There are only 5 townhomes for sale in here, that means that this is a very well liked area. There is not a high turnover. The new townhomes sold very fast at $250,000.
We are currently looking for land bankers who would like to buy land in Florida and be able to hold on to it for at least 5 to 6 years.
Contact Nestor Gasset and Katerina Gasset, CIPS, Realtors®, International Properties and Investments, Inc. Licensed Realtors® in Florida at 561-753-0135 to list your property for sale or to purchase a property in Wellington, Royal Palm Beach, Loxahatchee, Lake Worth, Hypoluxo Island, Lantana, West Palm Beach and the rest of Palm Beach County Florida. We are accepting referrals.
Copyright © 2008 By Katerina Gasset, All Rights Reserved.*Land Development Project With Pulte Homes, A Feather In Our Cap.*
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To view all the Wellington Florida Luxury Homes For Sale Click here and then click on Multiple Listing Search where the globe is on the right side of the screen that opens up. We know Palm Beach County and will help you get your home Sold if you need to Sell your home and help you buy your Wellington Home or Land ; call us today.
Disclaimer:The information provided herein is supplied by several sources and is subject to change without notice. Wellington Homes Blog does not guarantee or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Wellington Homes Blog represent the opinions and ideas of the author(s). Wellington Homes Blog does not express the views of International Properties and Investments, Inc or those of the broker.
P.S. If you are listing your home as a short sale in Palm Beach County Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 561-753-0135 to find out more about Palm Beach County Short Sales.
Magnolia Bay
