Monday, February 15, 2010

Ted Wants to Know About Your Vacant Lot

As a Buyer's Agent, I am dedicated to finding my customers/clients the best location at the best price.  That includes locations that are not on the market.  I would like to include your lot in my inventory of prospective locations if you think you have a great location and would sell it. 

I do not want to list your lot or promote your lot, and will not make public the possibility of it being able to be purchased.

Cleared lots in particular are in demand.  Check out this article:

Vacant lots become hot property

TALLAHASSEE, Fla. – Feb. 15, 2010 – Vacant residential lots are looking better and better to real estate investors.

The cost of a finished, ready to build lot, can cost a developer about 25 percent of the finished home price. There are a number of these ready-to-go lots on the market at about half what they actually cost to prepare. Investor groups are snapping them up, figuring that the time will come soon when they will be in demand.

“The country needs 1.2 million new units for the next 10 years just because of population growth,” says Scott Clark, president of American Development Partners, which has bought thousands of vacant lots all over the West. “[U.S. builders] built about 500,000 units in 2009 and 600,000 units in 2008, so there eventually will be pent-up demand. We want to get as many of those finished lots as we can because as demand begins to rise, the need for housing will become painfully obvious. The delta (ratio of change to value of underlying asset) in this investment will be significant.”

Source: Inman News, Steve Bergsman (02/12/2010)
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