Pricing Residential Properties with Industrial/Commercial Zoning. Who is the buyer?

When a single family home is in an industrial zone.. who is the buyer?
In an older community like Fillmore and Santa Paula, located in the Santa Clara Valley of Ventura County, it is common to find industrial and commercially zoned properties adjacent to residential areas. It is equally common to find older homes on properties that have been up-zoned to higher uses.

When its time for the family to reallocate these assets, there is a challenge as to how to price it. The industrial/commercial zones are attractive to small business owners but financing is more difficult. Additionally, it is appropriate for the smaller size parcels to be priced reflecting the more intense use, but the buyer pool becomes smaller.

It’s a waiting game in many respects as larger developments in the area begin to appear. This activity heightens interest in the area and all ships rise with that tide, but the practical aspect is “how long”? Family members need to consider the highest and best use in the short run and evaluate how long the wait will be for the existing zoning to catch up.

If you are a property owner out of the area, be sure to connect with a local broker who can prove local market knowledge.

About Kay Wilson-Boltonhttp://www.kaywilsonbolton.netWith a full-time career in real estate, I can add to your bank of knowledge, not only in real estate but in many areas of life that deal with people and relationships and choices. My real estate career has taught me many lessons about planning ahead and looking forward. I believe in helping along the way so that they can be the best they can be in any situation. I serve as a Fire Department Chaplain and Coordinator for the Many Meals Project which serves homeless and hungry families in my community. The event is far more than many meals. As a result of my work with the homeless population in my community, I received the Good Neighbor Award 2017 from the National Association of Realtors and named as a Champion of Homes in 2015 by the California Association of Realtors. I make pastoral visits to the inmates in the County Jail System and offer them what God says about "all things being new" and His remarkable plan for our lives. I have served my community as Mayor and in many volunteer capacities. I serve others by serving God first. My husband is involved in prison ministry and is a graphic artist. We live a simple life in Santa Paula with an office cat named Scout, three rescued poodles and a cat named Tony Diane at home.

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