By Eileen and Paul Goldfinger, Editors of tropicanaforum.com
As we reported, some homeowners in the park will be selling and hoping for prices to be heating up.
So now, we see one of the first post-tornado shot-cross-the-bow sales occurring quickly. From the outside and interior photos, it would have been worth this price before the tornado. but the tornado ironically has caused some turmoil in the Tropicana home market.
This Lantana sale is an attention grabber for a few reasons besides the price including that it sets the stage for more higher price sales.
It is now reported that a Trop home is for sale at $149,500.00 The photos show that it was completely remodeled and redone.
However, since we are talking about prices for trailers in Tropicana, some have sold for as little as $10,000 and a few for over $100,000.00. Some are being sold because they were broken in the tornado. And some will be bought so that the buyer can bring in a new house or fix up the wrecked house in order to flip it.
One person was approached by a buyer ; his home was not for sale. But a conversation quickly turned into a sale at $94,000 even with a destroyed lanai.
So market comparisons won’t do in Tropicana. The scene is too crazy right now.
However, you have to realize that MUREX wants to turn Tropicana into a showcase among ugly duckling parks in the neighborhood. And they will succeed, and when that becomes evident, the prices will rise further, and perhaps 16635 Lantana will go up in price by 20% or more by next year.
Note that new construction is nearly impossible in this area of Florida, and someone might have to wait months or years to get a project done.
An immobile home park like Tropicana is becoming very desirable for its pricing as well as its location. It is the most affordable market in Florida where the average price of housing is over $350,000. And we are within minutes of one of Florida’s most beautiful resorts—Sanibel Island.
The demographics are already stepping up in Tropicana. You can see the new homeowners, how they dress, how they speak, what interests them, and what cars they drive. This means money, and they will be able to buy something here at a price which would have been unthinkable 6 months ago. And they create demand, and currently supply is limited, so prices will rise more.
I am not a realtor although I play one in our house. What do some of you real estate speculators think about all this? Even Murex will be looking to own more homes here. Anyone who vacates their home after tornado destruction, will create an opportunity for Murex as they try to upscale this park.
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