​​Karen Summers Realtor
​​​                             When Results Matter

The Colony Homes Specialist​

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Best Lake Elsinore Realtor For Buying and Selling Land

The Best Lake Elsinore Realtor for Buying and Selling Land

When you need results, Karen Summers is the best Lake Elsinore realtor for buying and selling land.  With my long years of experience in the industry and intensive land investment knowledge, I give you the best advice so you get the best return on your investment.

Why invest in Lake Elsinore?  From its early beginnings as a resort town in the late 19th century, Lake Elsinore has grown tremendously.  In 2016, it was ranked the 5th fastest growing city in California and 3rd fastest in Riverside County.  People are attracted to the area for its small town appeal and exceptional lakeside living.  

Lake Elsinore is an active real estate market.  And with the city’s move to update the East Lake Specific Plan, it is expected to show more growth. The plan is geared toward zoning the remaining undeveloped land for commercial and recreational enterprises.  Now is the best time to invest in land.

Why Undeveloped Land Make a Good Investment

When it comes to real estate investing, people often miss out on the potential investment opportunity of raw, undeveloped land. This is quite understandable because it is hard to put down precious investment money if there is really “nothing there”.  However, if you invest wisely and the conditions are right, undeveloped land can bring in major returns on your investment.

How is this so? It is precisely because “it just sits there”.  Unlike other investment properties where you need to pour in money to make improvements so they can sell, you do not really need to do anything to vacant land.  There are no tenants nor maintenance expenses to think of. In addition, it is a long-term, tangible asset which does not depreciate nor wear out nor break or get destroyed.  A major consideration when choosing a property is its suitability for future development and building.

This is why it is important to know exactly what you are looking at. It pays to do your homework before putting down investment dollars on undeveloped land.  A realtor who knows the ins and outs of land investment, specializes in Lake Elsinore land real estate, and who has established relationships with city planners makes a huge difference.

When looking to invest in a property, Karen Summers is the best Lake Elsinore realtor for buying and selling land.

Some Key Considerations When Buying Land

As mentioned above, the major consideration when choosing land for investment is its suitability for future development and building.  What makes a piece of property a viable investment?

Topography. The physical characteristics of the land you are considering have a major impact on what kind of structures it can support.  Is it on sloping land?  Does the soil drain properly or are there areas that flood when it rains?   Is it on rocky or sandy soil?  All these make a difference on how you can market your property come time to build or sell.

Required Building Setbacks. As important as looking at the exact dimensions of the land, it is important to know required setbacks for it.  Would you still be able to build a structure of suitable size once setbacks are considered?

Zoning and Usage Restrictions for the Property.  How the property you are considering is zoned and the restrictions on its usage will determine how viable it is as an investment.  You might want to market it as land for commercial use but if it is zoned as residential land, it might be of no use to you.

Easement or Access Roads. A piece of property may be ideally located, have the perfect size for building and is zoned appropriately but if it is hard to access and have no proper easements, it will not be worth investing in.

Connectivity to Basic Utilities (Electricity, Water, Sewerage, Gas, Cable/Internet, Phone).  If a property lacks these utilities, it would be considered not build-able and would greatly affect its marketability and value.

Junk, Garbage and Other Contaminants. It is important to personally do a visual inspection or otherwise have your realtor check it for you to ensure that the property you are considering is actually vacant.  It is an expensive undertaking to clear land that has been used as a junkyard or dumping ground.

Annual Tax Obligation.  If you intend to hold on to your investment property for a length of time, it is important to ensure that the annual tax will not be burdensome.  A reasonable tax would be 1% to 4% of the property’s full market value.

Advantages Of Working With Karen Summers As Your Lake Elsinore Realtor for Buying and Selling Land

An experienced Lake Elsinore land realtor can help you weigh the pros and cons of any piece of property you are considering.  I specialize in working with my clients/investors to find the land that would suit their needs and requirements at the right price.

With my knowledge of the Lake Elsinore area, my land investment know-how, city and county connections, city planners included, I can assist you in finding out zoning and usage restrictions, buildability of the land, annual taxes, availability of public utilities, long term city plans, and more.

If it’s results you need in buying or selling undeveloped land, I have the experience it takes to maximize return on your investment.

Call me at 951-333-8065 or click here to set up an appointment.

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