Vacant Land W/ Pool

[Kevin A. Spellman]

I’m surprise the municipality allowed a pool to appear on a separate lot. In MA it would be illegal; you can only have a pool with a home and not on a vacant parcel. Identify the building envelope with respect to the setbacks. Does the building envelope area allow the construction of a typical home or will the pool constrict the future development. New house with an old pool would it be aesthetically appealing?

 

[Ted Martin]

What you have is a concrete lined sink hole.

I've got to agree with Kevin, "New house with an old pool....", contributory value would be doubtful.

Even if they kept the hole in the ground it's probably wired your subject house and would need new utility connections.

 

[Wendy]

What you have is a concrete lined sink hole.

I've got to agree with Kevin, "New house with an old pool....", contributory value would be doubtful.

Even if they kept the hole in the ground it's probably wired your subject house and would need new utility connections.

Good point about the utility connections.

 

[hglenbetts]

You didn't mention... A pool of what

 

[hglenbetts]

I’m surprise the municipality allowed a pool to appear on a separate lot. In MA it would be illegal; you can only have a pool with a home and not on a vacant parcel. Identify the building envelope with respect to the setbacks. Does the building envelope area allow the construction of a typical home or will the pool constrict the future development. New house with an old pool would it be aesthetically appealing?

Most of my Michigan market is the same. No improvement to residential land without a residence.

Had a guy with house and Pole barn on 3 acres that was splittable. Muni wouldn't allow it because the barn would have been on the split w/o the house.

 

[incognito]

Boy have I got some comps for you! On one, an investor in Melbourne bought an old house on a river front site, which had a sound pool shell. He cleared the improvements, and successfully re-marketed the cleared site with pool for new construction.

On the other, in Merritt Island, the vacant site was narrow, homes on both sides. It actually is not uncommon to build a dock and pool before building the house, due to access issues to the rear yard, before the house is constructed (in situations like this). Well, something happened, and the house was never built. It sold 5 years later, with pool.

In both situations, the buyers found that it was not economically feasible to have the existing pool shells incorporated into new pools. It just is not that expensive to put in a pool shell, especially when you are talking about relative to a $750,000 chunk of land, and probably $500,000+ in improvements.

So I would say no value, and perhaps a small knock for removing the intact shell, to make way for a new, more modern one.