Florida Bayview Lot Sell/Hold Recommendations

Question by FloridaRonnie Reward: 25 Pond Points + 10 Knowledge Tokens Status: Pending a resolution
Florida Real Estate - 100ft by 150 ft 1st tier bayview lot on St. George Island located in a very pristine area with easy access from Tallahassee and / or Panama City Beach.

What recommendations would you have given this scenario:
1. The future of an investor buying my lot is uncertain.
2. It could take another 7 to 10 years before buyers are back in the market.
3. The lot is financed and I am currently paying about $22,000 per year inclusive.
4. My options are:
a. to sell another piece of FL real estate and use this money to pay off the lot mortgage and wait for the market to come back.
b. to do nothing and continue to pay the $22K annually for another 7 to 10 years and sell when a buyer meets my price.
c. try to trade the lot.
d. sell the lot and be prepared to bring $50K to $90K to the closing to eliminate my liability.


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