Virginia Beach Topics: What is Value of this Lot??

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	Name:	Maverick -
	Subject:	What is Value of this Lot??
	Date:	8/25/2006 1:18:23 AM

Trying to figure FMV of a lot. Here are the details, and lets be serious here as I value others opinions on the forum:

End of Point View Lot (sloughs on both sides of property)
Lot on main channel
Lot has 700+ feet of waterfront
Lots of nice tall trees
Lot faces Southwest on water side
No Seawall (would probably cost about $70k for rip rap seawall)
No dock, etc.
Year round water
Deep water and big water view on both sides
Right side view about 4 mile view towards Wind Creek
Left side view about 2 miles towards Bay Pines

Moderate slope on water and street side (not steep), so you could grade down the lot or build house on top of lot.

Could build a nice size house on the top, so footprint not a major issue. If house built on top about 50 yds to water, but no steps required as slope is moderate.

Not in a Russell or others subdivison

Has old cabin on property which would need to be torn down to maximize the true property. So no value added for existing dwelling.

5 minutes to Hwy 280 and 15 minutes to town.

Lot is an old APCO lot, so no Russell restrictions.

So what does eveyone think todays FMV is, lookig for serious opinions here.

Wind Creek State Park

Point of Interest - Park