Marketing a completed coast subdivision- developers or RE Agents?
This subdivision was originally built in 2012 70 (we own 39) lots in Pacific City- we bought it at a discount in 2014 and now looking to sell it. Originally a number a lots sold for over $100,000 each. We build a few houses, (have 3 listed) but really focusing on apartments. We are looking at listing it on Loopnet, and contacting the larger coastal builders- Oskenholt companies, (these guys are a well put together company!) or going directly to the real estate agents. I know a lot of development companies work closely with a few chosen realtors. They help sell the project and paint a vision of future sales as they typically are the ones driving the sales. This subdivision is unique that we are still the delclarant and could change the HOA/CCR to reflect the zoning change: (cue angry current home owners) (but allowed w/votes)
2) USES PERMITTED OUTRIGHT: In the PCW-R3 zone, the following uses and their accessory uses are permitted outright, and are subject to all applicable supplementary regulations contained in this ordinance.
- (a) One, two, three, or four-family dwelling, including townhouses, rowhouses, and condominiums.
We have also looked to the Portland business journal for the top developers- (I am not sure DR Horton is looking the hills of Pacific City to build its next project) The Oregon Coast is beautiful but odd, these lots would cost me over $70,000 each and 2 years to develop and trying to sell them at 2/3's of this price is hard. I think I need that big player who is connected at the coast and do a "Bella Beach" or Ross Chapin look. (Love Ross's Cluster subdivision). Can I get some feedback? - A few suggestions were to carry the contract, subordinate the loan if they have a qualified builder. Other suggestions?
Chris