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Price of Land
Posted on 7/20/11 at 9:01 am
Posted on 7/20/11 at 9:01 am
Has the price of land generally experienced similar fluctuations as the price of housing? Or has it been steady?
I know there are a lot of variables, but what has been the general trend?
I know there are a lot of variables, but what has been the general trend?
9
Posted on 7/20/11 at 9:02 am to urinetrouble
Steady in the Huntsville area. Everywhere is different.
Posted on 7/20/11 at 10:08 am to urinetrouble
Varies tremendously with location, scarcity in the location, size of parcel, zoning, etc. There is a residential lot for sale a few miles from me listed at $750k which is up in the last two years. At a recent auction a guy bought 15 acres of land zoned residential well outside the city for $15k, it was acquired 4-years before for $185k for subdivision development. YMMV.
Posted on 7/20/11 at 10:10 am to tirebiter
quote:
At a recent auction a guy bought 15 acres of land zoned residential well outside the city for $15k
Where? And what kind of auction?
Posted on 7/20/11 at 10:38 am to urinetrouble
What type of land?
Posted on 7/20/11 at 11:31 am to tirebiter
quote:
a guy bought 15 acres of land zoned residential
quote:
well outside the city
Posted on 7/20/11 at 11:46 am to urinetrouble
Residential land tends to be about 4 times more volatile than house prices, depending on where you are.
Posted on 7/20/11 at 12:07 pm to urinetrouble
Water!
Lake front, ocean front, river front. People have a natural attraction to water.
When I was 9 yo I spent the weekend at my cousin's camp on Bay St. Louis, Miss. I was awestruck. Determined that I would live on a lake or bay someday.
Made it happen 15 years ago.
Lake front, ocean front, river front. People have a natural attraction to water.
When I was 9 yo I spent the weekend at my cousin's camp on Bay St. Louis, Miss. I was awestruck. Determined that I would live on a lake or bay someday.
Made it happen 15 years ago.
Posted on 7/20/11 at 1:39 pm to Zach
I bought the empty lot next to my house a few weeks ago for $60k. 3 years ago the builder was asking $150k for it.
Posted on 7/20/11 at 1:58 pm to bbvdd
We are looking at a bay front lot in Mobile that used to be 400,000. now asking 150,000 and probably going to low ball them. Land/lots are significantly cheaper here than they were 3 years ago.
Posted on 7/20/11 at 2:06 pm to lsaltee
Land in eastern Ohio has skyrocketed. Oil and gas companies paying $1200 a month, plus royalties, per month will do that though. 
Posted on 7/20/11 at 2:07 pm to urinetrouble
I'm looking at a couple of bank owned home lots. Anyone have any idea how far below the asking price they will go, as a general rule?
Posted on 7/20/11 at 2:14 pm to Tiger JJ
quote:
Residential land tends to be about 4 times more volatile than house prices, depending on where you are.
Very interesting factoid.
Do you have some kind of documentation? Not that I don't believe you, I would just like to read up on that.
Posted on 7/20/11 at 2:34 pm to TheHiddenFlask
quote:
Do you have some kind of documentation? Not that I don't believe you, I would just like to read up on that.
Not really. Google around and see what you can come up with. Basically, what you see is that when RE prices are really going up, most of the value flows through to the land - i.e. builders' margins stay more or less the same, but land guys get paid a lot more.
I've seen markets where lots were going for $250K at the peak, but now are only going for like $75K; but the house price is only down by 40-50%.
Posted on 7/20/11 at 6:15 pm to I Love Bama
quote:
well outside the city
I don't consider "cities" well outside the ATL metro perimeter to be in the city. Comprende'? Like Douglasville, Carrollton, Kennesaw, etc. Those towns are remote at best to ATL. Vinings, high dollar, D'ville, not so much.
Carrollton is really way out, but they did have a property boom, now cheaper than dung.
This post was edited on 7/20/11 at 6:19 pm
Posted on 7/21/11 at 4:03 am to tirebiter
In general much lower
Posted on 7/21/11 at 1:47 pm to urinetrouble
Land varies...
Dad bought some hunting property for 30k and he sold it last year for a little over 200k.
Dad bought some hunting property for 30k and he sold it last year for a little over 200k.
Posted on 7/21/11 at 4:22 pm to CajunFootball
Wow, sure seems like there is good money to be made in the appreciation of land if you time it right.
Posted on 7/21/11 at 8:11 pm to urinetrouble
In my area, prices are holding, but there are no buyers. Basically a stagnant market with nothing moving. Sellers are digging in their heels, knowing the value a few years back, while buyers are looking for a deal.
Posted on 7/22/11 at 8:38 am to Forgiving Morgan
Are there any online resources for looking at the overall value of land trends in certain areas?
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