Adverse Possession

Recently, I read an article reprinted from The News Herald in Panama City Florida, about a case in Colorado involving a vacant land parcel that was taken from the owners in an adverse possession claim. The owners had owned the land and paid taxes on it for more than 20 years; however, the neighbors had been using part of the land - walking their dogs, holding fund-raisers, and creating trails. The owners were unaware of this activity and did not prevent the neighbors from trespassing on the land. The neighbors were successful in bringing an adverse possession claim on the land and won the suit.

The moral of this story is that if you own vacant land, put up a no trespassing sign. Walk the land regularly, if you can, and inspect it. According to the article you should "know your individual rights and guard them fiercely".

IT'S A BUYERS MARKET!

Now is the time to buy! The inventory is high and prices are low. If you are looking for a deal in homes or land, we can find it. Pine Island is a very unique location off the southwest coast of Florida. It has no traffic lights, light traffic, low crime, beautiful palm farms and enjoyable nature. It's off the beaten track and has quiet rural areas and more developed communities.

If you are interested in real estate on Pine Island give us a call at 866-768-2895. You can also visit our website at www.MargaretBirdsong.com.

A look back at 2007

In 2007, there were 147 residential listings and 70 vacant land listings that sold on Pine Island. These numbers are down from 2006, when we had 169 residential listings and 88 vacant land listings that sold. As in most problemmatic real estate markets, the inventory is too high and buyers are too few.

At the beginning of 2008, we have 343 active residential listings and 393 active vacant land listings on the market. If we divide the current number of residential listings (343) by the number of residential sales in December (14), we get 24.5 months or 2 years of inventory. If we do the same for lots (393 current listings divided by 4 sales in December), we get 98.25 months or a little over 8 years of inventory.

Our downturn began in October, 2005, and has still not leveled off. A few realtors are posting price increases on properties in the MLS in an effort to change the course of this market, but there are many more price reductions. When will this valley end? Some experts predict by the latter part of 2008 or early 2009. We'll have to wait and see!