I didn’t take it that way. I just hired an appraisal company to do the appraisal… I don’t think they took the shopping center into consideration, because I don’t know that there was knowledge of it at that time.. they looked at comps mostly.
I guess there was a bidding war of sorts, mostly between two buyers.. they kept raising their offers and yeah it sold for a good chunk more than we listed it for.. I guestimated what that difference was in an earlier post so I don’t want to guess gain incorreclty. I wasn’t sure I wanted to sell it.. I just wanted to list it and let the offers come in over 6 months and see what the market thought about the land, but after being on the market for about 20 days I decided to accept an offer because it sounded good to me.. especially since LA times started publishing real estate slowdow type stories.
There wasn’t a whole lot of skill invovled.. I was just posting this as a positive experience with buying and selling land, and a few of the techniques I used.. if it were a sure pattern I’d already have done it again by now. Lately I’ve been investing in energy options as reccomended by some of the newsletters I subscribe to.. it’s scarier than the buying land, but the gains have been smiliar so far… I’m going to lower my options positions a little bit tomorrow if they aren’t going up.. sure oil is up and everything, but I don’t like owning stuff at record levels or during the begginigns of a possible new world war 🙂
