The Keith & Rozella Ruggles Home
Major Property Characteristics
The Ruggles property is comprised of 6.6 acres in close proximity to Tulsa, OK. All 6.6 acres, save the 2636 sq foot home and the 2292 square foot barn are perfect for equestrian use. The land is zoned agricultural with one single family residence on the property. 75% of the property is fenced. In addition, the land backs up to the Arkansas River with access to the water via two seperate rock stairs built into the trail down a beautiful bluff. The home is fully updated, with an impressive amount of storage space and represents pride of ownership .
Upon visiting with the family, it was observed that the family wished to get top dollar for the property and saw the value in making neccessary preparations to get the best possible deal. The desire was to sell the property in the fall/winter of 2018.
The property could have been marketed in several ways. First, as an estate with land suitable for horses, barns, etc., or second, as land subdivided into lots. The first option is the simplest. The second could involve approaching the appropriate planning commission to subdivide the land. This particular property could also be presented to several area home builders and developers. Although going this route would get you higher per acre price on the property, it would include moving and/or removing the existing home to make it attractive for new construction. However, marketing it as vacant land makes it less valuable as a whole.
We took a unique approach to valuing the land and home. To value the home, we compared the property to similar homes in Bixby School District that rest on .75 to 1.25 acres with similar interior and exterior finishes and square footages. Secondly, we compared the land to vacant land in the area which sold in the last year between 6 and 15 acres. This land sold primarily to developers wishing to build new construction on the land. We excluded the acre of land in our valuation that the home stands on as its value is included in the square footage of the home. We valued the barn at 15k. We offset the additional value of land backing up to the river with the negative aspects of the power plant and power lines. The power plant/rail tracks would impact a developer’s goals more than a home owner since the home is on the other side of the property.
We work hard and have incredible marketing resources.
We Rethought Everything
Sale Ready Assessment
Attached in a link below is the sale ready assessment of the property. The end goal of this assessment is to achieve 110 per square foot on the value of the home and to make the land attractive.
Square footage amounts are based on estimates only. Our valuation will change based on appraiser measurements and surveys.
Included in this listing
Appropriate valuation for every improvement
Professional Photography and Drone Footage
Timely improvements and a timely marketing available on every kind of screen
$465,000 – $499,000
Marketed as a Ranch/Equestrian Property near Tulsa, Oklahoma
At Shea Fite, Realtor, we take more time than necessary to value properties. Predicting who the buyer will be on a property and appropriately pricing the estate is the most important aspect of marketing. We look at it all. The location, the price, how we are going to get the word out to the marketplace and in the end, the product itself. We know that a fully ready home sells for top dollar, and more quickly.
Based on the information that we have available to us right now, we believe this property to be valued at $465,000 to $499,000 and should be marketed as a small farm/ranch estate. This valuation is subject to change based on many factors, primarily, the square footage appraisals.