UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: FoolinSC Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127680  
Subject: land zoning question Date: 9/29/2012 8:47 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I've been presented with information and a possible opportunity to purchase a property for sale (3 acres with a 2400 sq ft modular home)that has supposed commercial potential in approx 5-10 years even though it is currently residential. The property is basically half of a street. It's located in an area of town that's growth has been exponential over the years. The seller is an ex gf of a friend of mine and I'm told she's desperate to sell it for personal reasons. The friend is telling me this with no expectation other than she believes this would be a great investment opportunity because it is sure to be worth a lot in 10 years because it's likely to be a commercial area at that time. It might be but who knows? I don't. Do planning commissions forcast these areas based on commercial growth? My question is, if I were to purchase this property, how does land like this go from residential zoning to commercial zoning? Would it be a scenario where someone could potentially want to purchase it years from now and then apply for a commercial rezoning for it or does the purchase of land in the area for commercial purposes change the zoning of the property due to there being other businesses around it and thereby the zoning commission rezones the property? I had a conversation about this with a friend of mine who's a realtor but he tells me that the planning commission is difficult to get answers from. Any information on this would be helpful.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement